- 9,744
Of course they never, ever lie do they?
Difference Between MIB and Script Check?
- Thread starter Klutch
- Start date
- 544
I wondered the same thing so I called a couple of carriers and I asked them point blank how the process worked. This is what they told me on the phone.
It was said earlier about MIB...that is/was an organization that was originally organized by insurance companies and for insurance companies to gather and disseminate information about people applying for insurance. It was created mostly because insurance carriers were tired of getting defrauded by unscrupulous applicants who would lie about major illness/diseases on applications in order to get insurance. The MIB is similar to a credit report in the financial world for people who are applying for a loan or credit card. Not every person has an MIB report. Usually it only exists if any one insurance carrier has reported any derogatory information about an applicant. If you have lots of bad things on your MIB then if you apply for coverage with one carrier they will see it and you'll get rated up or declined.
Script checks are a different thing altogether. Carriers usually have a membership with one of two main prescription drug national databases...Intellisctipt and MedPoint. Usually when you have a client do a PHI or POS interview with the carrier then the interviewer on the other end of the line will look this up on the computer while they have the applicant on the phone. They will then compare any RX they find against the carrier's RX knockout list, and usually either approve or decline right on the spot.
It was said earlier about MIB...that is/was an organization that was originally organized by insurance companies and for insurance companies to gather and disseminate information about people applying for insurance. It was created mostly because insurance carriers were tired of getting defrauded by unscrupulous applicants who would lie about major illness/diseases on applications in order to get insurance. The MIB is similar to a credit report in the financial world for people who are applying for a loan or credit card. Not every person has an MIB report. Usually it only exists if any one insurance carrier has reported any derogatory information about an applicant. If you have lots of bad things on your MIB then if you apply for coverage with one carrier they will see it and you'll get rated up or declined.
Script checks are a different thing altogether. Carriers usually have a membership with one of two main prescription drug national databases...Intellisctipt and MedPoint. Usually when you have a client do a PHI or POS interview with the carrier then the interviewer on the other end of the line will look this up on the computer while they have the applicant on the phone. They will then compare any RX they find against the carrier's RX knockout list, and usually either approve or decline right on the spot.
- 6,134
Here is my question. If I am 60 and perfectly healthy and apply for insurance, nothing is on my MIB except that I applied for abc insurance? Then at 75 I apply and I am on insulin, copd, stents, ect ect ect it would not show up right? This just confuses me is why I am asking.
- 9,744
Close.
They report underwriting outcomes. Some are derogatory, some positive. If they issue super preferred, they report that. That's not "derogatory".
- 31,322
The meds you're on for those conditions should show up on the script check.
