As of Sunday, June 18, 2023, the Centers for Medicare & Medicaid Services (CMS) are requiring agents selling Affordable Care Act (ACA) insurance plans in the Federally Facilitated Marketplace (FFM) to record and keep documents for all sales.
As a result of the 2024 Marketplace Final Rule agents must obtain and document consumer consent before providing services or assisting clients with enrollment. Documentation stating that a client has reviewed and verified that the eligibility application is accurate is also required.
Ritter has created a form to make this process easier for agents selling marketplace plans to clients. Continue reading to learn about these requirements and how Ritter can help you.
Consumer Consent
Effective June 18, 2023, agents and brokers must document consent from all consumers who enroll in a marketplace plan. This consent must be received before aiding consumers with their enrollments. The consent form must provide the date consent was given, the name of the consumer or their authorized representative, and the name of the agent, broker, or agency being granted consent. Clients are allowed to rescind this consent at any time.
Effective June 18, 2023, agents and brokers must document consent from all consumers who enroll in a marketplace plan.
This consent may be obtained in writing, electronically via email, or recorded voice and remain on file for 10 years. Agents must be able to produce this documentation upon request to stay compliant. Learn more about these changes in an FAQ produced by CMS.
Eligibility Application
Also as of June 18, 2023, agents and brokers are required to document that eligibility application information has been reviewed and confirmed to be accurate by the consumer or the authorized representative before their application is submitted. This document must include the date the information was reviewed by the client, the name of the client or their authorized representative, an explanation of the attestations at the end of the eligibility applications, and the name of the agent or broker.
Ritter Makes It Easy
These new requirements do not have to be as stressful and confusing as they may seem. Ritter has created a Consumer Authorization Form to help agents document this information. Our form allows you to document consumer consent to utilize personal identifying information (PII), consent to conduct a marketplace search, consent to review and complete an eligibility application, and allows consumers to make exceptions or limitations to their consent. All these attestations are required by CMS and are covered in one document when you use our form!
Follow our blog for more information about the most current updates to the ACA marketplace. Register with Ritter to have access to our supportive Under-65 sales team that’s available to help with any questions you may have.
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