Underwriting Submissions for BIC Health Plans

BY: Daniela Sartori
Director of Sales Operations, Benefit Indemnity Corporation
Phone: 443-275-7401
Email: daniela.sartori@benefitindemnity.co

SUCCESS STARTS WITH YOU
Taking the time to meet with your client and thoroughly discussing the necessary steps to finalize the rates for the Revolution & Precision Health Plans is key.

There are three methods available to obtain final rates:

1. Automated Risk Assessment (ARA) Tools
For groups with 15 to 150 full-time enrolled employees, the ARA Tools are the best option. No IMQs are required for this process! Here is what you will need to proceed:

The group must currently have in-force coverage (no virgin groups).
Current and Renewal Benefits are required.
Checklist Form: This form contains critical data for the quoting process, so please complete it as accurately as possible.
ARA Documentation and Census Form:

Include all full-time eligible employees (FTE) with the proper coding.
Only include dependents who will be covered under the plan.
Employee home zip codes are required.
Coverage codes and fields in your submission must match our template.
Ensure the work location zip code is included in column I (Employee Only).

ARA Questionnaire: Answer all questions as thoroughly as possible. Incomplete or vague responses often result in follow-up emails from our team gathering the necessary details for underwriting.

2. Application Process
If your group does not have current coverage or has fewer than 15 enrolled employees, you will need to use the application process. BIC offers this service for free to our dedicated brokers:

Full-Time Eligible employees (including those waiving coverage) must complete an IMQ with all required medical data from the past 5 years.
A comprehensive census in Excel that matches the applications received.
Current and renewal rates, if available (including plan designs).

3. Experience Underwriting
For groups with more than 150 enrolled employees, use the Experience Underwriting process. You will need the following:

A census of all eligible employees.
At least 2 years of claims experience, including large claims reporting.
Current and renewal rates, as well as plan designs.

When working with your client, always focus on recommending the plan(s) that best suit their employees' needs based on final underwriting. Avoid suggesting a specific plan until you have received the final rates. Pushing the richest, most comprehensive plan is not always the best choice for the client.

Remember, incomplete cases create unnecessary stress for both you and your client. By following these steps, you will help avoid delays and prevent "laundry lists" from coming back on your case—setting us all up for success!

Daniela Sartori
Director of Sales Operations, Benefit Indemnity Corporation
Phone: 443-275-7401
Email: daniela.sartori@benefitindemnity.co

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Underwriting Submissions for BIC Health Plans

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