Big changes are on the horizon for insurance brokers in Virginia as the state gears up for its upcoming Open Enrollment Period. Virginia is making a significant shift by transitioning to its own State-based Exchange Platform, known as the Virginia Insurance Marketplace (VIM). This change promises a smoother experience for both brokers and consumers. Here’s what you need to know to prepare for this exciting transition:
1. Agent Information Form Deadline:
To ensure a seamless transition, make sure to fill out the Required Agent Information Form by no later than 5:00 PM on September 7th. This crucial step will not only set up your account on the VIM platform but also link your agent and consumer data.
2. Your Book of Business:
Agents who submit the Required Agent Information Form before the September 7th deadline can expect their book of business to be loaded and ready for them in their agent portal account on the VIM platform around October 10th. However, if you miss this deadline, you’ll need to manually build your own book of business in the system.
3. Existing FFM Certification:
For those currently certified with the Federally Facilitated Marketplace (FFM), VIM has already created an account for you. You should have received an email with your login ID. You can access the Learning Management System at marketplacelms.scc.virginia.gov.
4. Certification Deadline:
To receive your November 1st Exchange Certification, it’s essential to complete agent training and pass the exam in the VIM Learning Management System by October 10th. This certification will enable you to assist your clients effectively during the Open Enrollment period.
The transition to the Virginia Insurance Marketplace promises a more streamlined and efficient experience for both brokers and consumers. By following these key steps and deadlines, you can ensure a successful transition and be well-prepared to assist your clients in the upcoming Open Enrollment period. Stay informed and stay ahead of the curve in Virginia’s evolving insurance landscape.
