Medicare Broker of Record Change
There is more than one name for Medicare Broker of record change forms, some people also refer to them as (BOR). Some agents also refer to these forms as agent of record change forms. Agents can use these forms with a number of carriers to change the servicing agent on an account. If a client signs a BOR, the new agent will inherit the commission when the client renews the plan. Some companies will not accept BOR forms. The most notable carriers that will not accept the forms are United Healthcare Medicare Advantage and AARP Medicare supplement plans. Although, most other companies will accept the Medicare Broker of Record Change form.
It is also important to remember that a company will usually not accept a BOR on a case that is not currently paying commission. Direct cases (also called “house” accounts) will not start to pay out commission if an agent submits a BOR on them. Links to multiple forms are provided below with additional carriers available upon request. You can send completed and signed broker of record letters either to our office or directly to the carrier.