Orlando Harmon
If you're interested in becoming an insurance agent for the federal marketplace, there are several steps you need to take. Firstly, you must register and create an account through the CMS Enterprise Portal. After that, you'll need to complete the required training and sign agreements. The training can be done through the Marketplace Learning Management System (MLMS) or via a CMS-approved vendor, with some vendors offering continuing education units (CEUs). Once you've completed the training, you'll need to electronically sign the CMS Privacy and Security agreements. It's also important to ensure that you have the necessary licensure and appointments with insurance carriers to receive commissions for your enrollments. Additionally, you can utilize resources such as HealthSherpa, which offers a referral program and provides tools to enroll, track, and service your clients.
| Characteristics | Values |
|---|---|
| Registration | Sign up for an account on the CMS Enterprise Portal at https://portal.cms.gov/ |
| Training | Complete the required training on the Marketplace Learning Management System (MLMS) or through a CMS-approved vendor. Training covers topics such as health insurance plans, regulations, and sales techniques. |
| Agreements | Sign the necessary agreements, such as the CMS Privacy and Security agreements. |
| Licensing | Obtain a valid license from the relevant state authority, such as the Department of Financial Services for the NY State of Health Marketplace. |
| Certification | Complete any required certification training courses, which may be offered online or in a classroom setting. |
| Carrier Appointments | Get appointed with insurance carriers to receive commissions for your enrollments. |
| Resources | Utilize resources such as the HealthSherpa Referral Program, which offers bonuses for referring clients, and the Getting Started Guide for Agents. |
| Support | Reach out to support teams, such as the NY State of Health Broker Support Center, for assistance with technical issues or questions about the process. |
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What You'll Learn
Register and complete required training
To sell health insurance plans through the federal Health Insurance Marketplace (FFM) on HealthCare.gov, you must register, sign agreements, and complete the required training.
Firstly, you need to create an account through the CMS Enterprise Portal at https://portal.cms.gov. If you already have an account, you just need to renew it.
In the CMS Enterprise Portal, you will need to complete the following set of selections: Request Access Now, FFM/Training – Agents/Brokers/Assisters as the title, and then FFM Agent. You will then need to navigate to Complete Agent Broker Training. Select the 'Access Training' link next to the Marketplace Learning Management System (MLMS). Select the Individual Market curriculum and then 'Complete Enrollment'. You will then need to complete all required training. You can complete this training through a CMS-approved vendor. Many of these training courses are paid courses, and they may also offer continuing education units (CEUs). The MLMS training from CMS is free, but it doesn’t offer CEUs.
After you’ve completed the training, the final step in your CMS Enterprise Portal is to launch and electronically sign the CMS Privacy and Security agreements. To do this, go to ‘Current Learning’ and select ‘Curriculum State’. From there, you’ll click the ‘Actions’ link to the right of a completed curriculum.
If you are a resident of New York State, you must have a valid NYS Department of Financial Services License, and be trained and certified to work on the NY State of Health Marketplace. You will receive free training through an online classroom while registering for a new broker account. To learn how you can become a NY State of health certified Broker, follow the steps on the NYSOH website, or contact NY State of Health Broker support at [email protected].
If you are a licensed FFM agent, you will need to get appointed with insurance carriers. Without carrier appointments, you cannot receive a commission for your enrollments. You can run a few quotes for zip codes in your region(s) of focus and then create an Agent account and fill out a form.
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Get appointed with insurance carriers
To become an insurance agent in the federal marketplace, you must get appointed with insurance carriers. This involves entering into a contract with an insurance company, which authorises you to sell their insurance products to your customers in the states where you're licensed.
Before applying for an insurance carrier appointment, it is important to do your research. Carriers will do their due diligence on you and your agency, so you should make sure they are a good fit for your business. Check that the carrier is taking on new agencies and that their products align with your business plans. Research their reputation, financial stability, and ease of doing business.
You should also review the carrier's requirements and make sure you qualify before applying. Carriers may ask for proof of relevant licenses, background checks, banking information, credit history, and criminal record. They may also require certification.
To find carrier appointment opportunities, keep an eye out for carrier reps at conventions or training sessions, and look on LinkedIn for people you could approach. Start networking with carrier representatives and ask what they are looking for in agents.
Once you have found a carrier you want to work with, follow their specific appointment process. Many carriers will ask you to create an Agent account and fill out a form.
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Receive commission for enrollments
To receive a commission for enrollments, you must first become a licensed FFM agent. You will then need to get appointed with insurance carriers. Without carrier appointments, you cannot receive a commission for your enrollments. To get appointed, you can search for directions by Googling ' [Carrier] Marketplace Appointments'. Many carriers will ask you to create an Agent account and fill out a form.
If you are selling FFM insurance plans during the Open Enrollment Period (OEP), you will need to create an account through the CMS Enterprise Portal. If you already have an account, you will need to renew it. In the CMS Enterprise Portal, you will need to complete the following selections: Request Access Now, FFM/Training – Agents/Brokers/Assisters as the title, and then FFM Agent.
You will also need to complete the required training. You can complete this training through the Marketplace Learning Management System (MLMS) or through a CMS-approved vendor. The MLMS training from CMS is free, but it doesn't offer CEUs. After you've completed the training, the final step in your CMS Enterprise Portal is to launch and electronically sign the CMS Privacy and Security agreements.
You can also receive a bonus for referring a client who wants a plan outside of your carrier appointments.
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Refer clients for bonuses
The HealthSherpa Referral Program offers a bonus whenever you refer a client who wants a plan outside of your carrier appointments. After enrolling, you can follow up with your client, and their details will be visible under the 'Clients' tab in your HealthSherpa account. The bonus rate for the Special Enrollment Period (SEP) is lower than the Open Enrollment Period (OEP).
To get started, you can set up a free HealthSherpa for Agents account. HealthSherpa is an approved alternative to healthcare.gov, and you can use it to directly enroll your clients with Enhanced Direct Enrollment (EDE). Through your HealthSherpa account, you can enroll, track, and service your ACA clients all year round.
To activate the Referral Program, follow the directions provided in your HealthSherpa account.
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Complete annual registration and training
To sell health insurance plans through the federal Health Insurance Marketplace, you must complete annual registration and training. This process involves several steps, including creating an account, selecting the appropriate training curriculum, completing the required training, and signing agreements.
Firstly, you need to create an account through the CMS Enterprise Portal at https://portal.cms.gov. If you already have a CMS Enterprise Portal account, you simply need to renew it for the current year. Once you have an account, navigate to the “Complete Agent Broker Training" section and select the 'Access Training' link next to the Marketplace Learning Management System (MLMS).
Next, select the appropriate curriculum. If you are selling individual plans, choose the Individual Market curriculum. If you plan to sell only small business group plans through the Small Business Health Options Program (SHOP) Marketplace, registration and training differ slightly. After selecting your curriculum, click "Complete Enrollment."
You will then need to complete all required training. This training can be completed through the MLMS, which is free, or through a CMS-approved vendor, which may offer continuing education units (CEUs). Paid courses may be required for these external training options.
After completing your training, the final step is to launch and electronically sign the CMS Privacy and Security agreements. To do this, navigate to 'Current Learning' and select 'Curriculum State'. From there, click the 'Actions' link to the right of a completed curriculum.
It is important to note that agents and brokers who do not have an approved health-related Line of Authority (LOA) from their resident state are not permitted to assist consumers with Marketplace enrollment. Therefore, ensure that you meet the state licensure requirements and have an approved health-related LOA before completing your registration and training.
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Frequently asked questions
To become an insurance agent for the federal Health Insurance Marketplace (FFM), you need to register, sign agreements, and complete the required training. You can create an account through the CMS Enterprise Portal at https://portal.cms.gov/ and select "Request Access Now" followed by "FFM/Training – Agents/Brokers/Assisters". After completing the training, you will need to electronically sign the CMS Privacy and Security agreements.
Agents and brokers must have an approved health-related Line of Authority (LOA) as determined by their resident state. They also need to have completed Marketplace registration and training. State licensure requirements vary, so be sure to check the specific requirements for your state.
The federal Health Insurance Marketplace offers competitive commissions for agents and brokers. Additionally, HealthSherpa, an approved alternative to healthcare.gov, offers a bonus for referring clients who want a plan outside of your carrier appointments.
