Contract with different IMOs at the same time

[JJ2713]

Some IMOs don't have all the necessary carriers for MAPD .

WIll it be an issue to contract with several IMOs, and then with different carriers for each IMO?

 

[goillini52]

Some IMOs don't have all the necessary carriers for MAPD .

WIll it be an issue to contract with several IMOs, and then with different carriers for each IMO?

As an Independent Agent, you can use as many different FMO's as you want to.

It's not a good idea to put all your eggs in one basket anyway.

 

[johntrice]

As an Independent Agent, you can use as many different FMO's as you want to.

It's not a good idea to put all your eggs in one basket anyway.

I couldn't agree more! If an IMO or FMO wants all of your contracts, then run. I know there are a few like that and those IMOs are also very hard to get a release from should you want to move to another IMO in the future. If an IMO pressures you to keep all of your carriers with them, do your homework and find out if it's in your best interest or theirs. IMOs should attract great agents by their value to us, not enslave an agent through a contract.

There is one exception: I have a friend that worked for a Medicare Advantage FMO in Tennessee. That FMO provided leads, office space and a receptionist plus they also helped him recruit. In that case, it's understandable that they wanted all of his MA contracts because they are investing a lot of money in his success.

Unless you are getting something of real and unique value from your IMO, you should explore all of the possibilities.

 

[Packerland]

It really depends on your individual situation. Like a poster above stated your fmo meat be giving you additional things and he surely wouldn't want you to sell another mapd product if he's providing you leads excetera.

I do have two basic NMO's that I use. But I have the majority of my business with one of those organizations. I am and FM fmo for all carriers and some of the agents contracted with me have some of their contracts and or all of their contracts. What I provide depends on what contracts they have so in effect I provide more services to a agent that has all of his or her contracts with me.