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Broker Licensing Procedures and Information:
It's easy to become an Exec-U-Care broker. Just complete the Application for Licensing Appointment and send it to our administration office: Exec-U-Care P.O. Box 4540 Iowa City, IA 52244 If you prefer, you may submit this application with your first Exec-U-Care case. When you enroll a new company in the Exec-U-Care program, the employer must complete a Participation Agreement. Please specify an eligible class of employees on item 10 on the Participation Agreement. Do not list the individual name(s) of the employee(s). Examples of an eligible class are Senior Vice Presidents, Owners or Board of Directors. If the participating employer elects the Exec-U-Care Gold prescription drug discount card, the employer must complete the Exec-U-Care Gold Participation Agreement. Each proposed individual must complete an Employee Enrollment form* and list a beneficiary for the Accidental Death and Dismemberment benefit. Coverage will be made effective the first of the month after the company approves the employer's Participation Agreement. Coverage will not be retroactive. Along with the Participation Form(s) and the Employee Enrollment Forms, you should collect one check for the initial quarter premium of $62.50 per proposed insured. The initial premium will be prorated at a monthly rate of $20.83 per proposed insured if not effective on a calendar year quarter. Quarterly premiums will begin the following quarter. If commissions are to be paid to your firm, enter your firm's Federal Tax ID number on the Participation Agreement. If commissions are to be made directly payable to you, enter your Social Security Number. Submit: An employee may be added to a company's Exec-U-Care coverage effective the first of any month after he/she becomes eligible. We will be happy to work directly with the participating employer to add new insureds, so feel free to ask them to call us directly when they want to add new insureds to their Exec-U-Care programs. Of course, if you choose to handle all transactions for your participating employers, we welcome your participation. A completed Employee Enrollment Form for each additional insured, along with a check for $62.50 per quarter per additional insureds (prorated if not effective on calendar year quarter), should be sent to our office with the proposed plan entry date. Coverage will not be retroactive. Exec-U-Care will process the enrollment materials and issue a certificate(s) directly to the participating employer. If you prefer, we will send the certificate to you, and you can deliver the certificate to your participating employer. Your participating employers will receive a small supply of Exec-U-Care claim forms* in the Administration Kit sent at enrollment. Claims should be submitted to Exec-U-Care by completing a claim form and attaching an explanation of benefits from the base plan and an itemized bill to substantiate each expense listed. Canceled checks will not be accepted in place of itemized bills from the provider. The employee (or the employer) should keep a copy of the claim form and send the original to Exec-U-Care. We must have a separate claim form for each claimant (each person who has eligible expenses), and each year's expenses must be filed separately from other year's expenses. All eligible expenses incurred in a calendar year must be submitted to Exec-U-Care within 90 days following the close of the calendar year. Claims will be processed on a monthly basis. No money should be sent when claims are submitted. Claims received by the 14th of the month will be processed and reflected on the premium statement sent to the employer on or around the 20th of the month. Companies will be billed for 111% of claims received each month. Payment is due from the company upon receipt of the premium statement. Reimbursement checks are then processed, made out directly to the employee, and sent to the employer. The employer is responsible for distributing checks to individual insureds. These checks will be mailed to the employer five business days after we receive premium payment from the employer. The selling agent will be paid $9.00 per quarter per employee. Commissions are paid quarterly. |
Exec-U-Care is underwritten by The Lincoln National Life Insurance Company, 8801 Indian Hills Drive, Omaha, NE 68114.
800-552-1213
http://www.LincolnFinancial.com/
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Exec-U-Care is not available to small employers in MD, MA, and NJ. Small employers are defined as any organization with fewer than 50 employees. Exec-U-Care is not licensed in AL, CT, KS, ME, NH, NY, ND, SD, VT, WA, and WV.
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