Approve or Deny Volumes for a Product Pending EOI

Note: If you're more of a visual learner, watch a video on this topic.

At times, carriers will request evidence of insurability (EOI) for voluntary products when the plan participant chooses a coverage amount that is over the guaranteed issue amount (the amount that is pre-approved by the carrier). The carrier will also require EOI when if the plan participant is a late entrant. (Learn more about evidence of insurability here.)

You'll need to wait and find out if the EOI has been approved by the carrier. Once you have that decision, you'll process the EOI product separately from the voluntary product per the instructions below.

This article covers:

Approve additional volume for a product pending EOI

In this example, Jim Halpert, Pam, and Cece are currently enrolled in the voluntary product with effective dates 9/1/2016 - 2/28/2017.

Both Jim and Pam went over the Guaranteed Issue amount for this voluntary product. You got word from the carrier that both of their additional volumes were approved effective 10/01/2016. Now, you want to reflect that approval in Maxwell.


Follow the steps below:

  1. Process the voluntary product (which will contain only the volume up to the original guaranteed issue amount) either individually or with all other products using the bulk process tool.
  2. Go to the "Eligible Products" tab of the employee's profile. Click Edit/Process next to the EOI product. (You may need to select "Administrative Change" as the change reason.)
  3. Update the "Effective Date" to be the date the volumes were approved by the carrier. (NOT the same "Effective Date" as the voluntary product.) In our example, the date would be 10/01/2016, NOT 09/01/2016.
  4. Click Process Elections. A message will let you know it was processed successfully.
  5. Head to the "Enrolled Products" tab to see both the voluntary and EOI product listed.

 

Deny additional volume for a product pending EOI 

In this example, Jim Halpert, Pam, and Cece are currently enrolled in the voluntary product with effective dates 9/1/2016 - 2/28/2017.

Both Jim and Pam went over the Guaranteed Issue amount for this voluntary product. The carrier denied both their additional volumes effective 10/01/2016. Now, you want to reflect that denial in Maxwell.

 Follow the steps below:

  1. Process the voluntary product (which will contain only the volume up to the original guaranteed issue amount) either individually or with all other products using the bulk process tool.
  2. Go to the "Eligible Products" tab of the employee's profile. Click Edit/Process next to the EOI product. (You may need to select "Administrative Change" as the change reason.)
  3. Change the "Shopping Status" from "Confirmed" to "Closed." Click Save. By closing the EOI product, you've successfully denied the additional volumes for this employee. 
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