Having endured the abuse from CMS over administration of MA plans for the past couple of years, I have made a business decision to move on to other products.
I suggest to all MA agents on this forum, that you consider doing something similar.
CMS is a government bureaucracy. They can get away with doing things a commercial enterprise would be sued for. If they decide to eliminate MA plans next week, there is no recourse. Consider how they have treated agents trying to serve the senior market over the past several years. A rational person would think they are planning on eliminating independent agents all together if you think about their past actions. They use the excuse that they are trying to rid the program of "unethical" agents, while making unethical edicts themselves. Cutting commissions after the sale and making the cut retroactive cannot be done in the commercial world. Only a government bureaucrat can do this and get away with it. They can publish "ethical" guidelines and do unethical things themselves because being called a hypocrit doesn't affect their pay one cent.
If you believe that the government is "here to help you", you are a lost cause. Others will realize that the effort to rid the MA program of "unethical" agents is a ruse to rid the program of ALL agents. From a management perspective, they have no idea how to lead. They have a hammer, and that's the only tool they know how to use. If you continue under their hand, don't complain of their abuse. If you are independent, make a decision to stay independent.
My suggestion is to begin now to change your business model that will serve a greater market segment than just Medicare. Even Med Sups are going to experience some changes shortly. Some of you already have made some business changes. Others just getting into this business need to carefully examine the aspect of putting your career in the hands of a government bureaucracy.
I don't mean just selling other health insurance, either. In my case, I am expanding into Life products as well, in order to diversify my business so that I will not be subject to the whim of government bureaucrats. It doesn't matter what other products you decide to sell, just diversify. Don't put all your eggs in one basket. The current administration is going to play havoc with that basket.
If you continue to sell MA plans until they no longer exist, AND you have diversified, then their demise won't put you out of business. In the meantime, if some government bureaucrat puts the screws to you, you can tolerate them without the pain you will suffer otherwise.
Just my opinion.... your mileage may vary.
I suggest to all MA agents on this forum, that you consider doing something similar.
CMS is a government bureaucracy. They can get away with doing things a commercial enterprise would be sued for. If they decide to eliminate MA plans next week, there is no recourse. Consider how they have treated agents trying to serve the senior market over the past several years. A rational person would think they are planning on eliminating independent agents all together if you think about their past actions. They use the excuse that they are trying to rid the program of "unethical" agents, while making unethical edicts themselves. Cutting commissions after the sale and making the cut retroactive cannot be done in the commercial world. Only a government bureaucrat can do this and get away with it. They can publish "ethical" guidelines and do unethical things themselves because being called a hypocrit doesn't affect their pay one cent.
If you believe that the government is "here to help you", you are a lost cause. Others will realize that the effort to rid the MA program of "unethical" agents is a ruse to rid the program of ALL agents. From a management perspective, they have no idea how to lead. They have a hammer, and that's the only tool they know how to use. If you continue under their hand, don't complain of their abuse. If you are independent, make a decision to stay independent.
My suggestion is to begin now to change your business model that will serve a greater market segment than just Medicare. Even Med Sups are going to experience some changes shortly. Some of you already have made some business changes. Others just getting into this business need to carefully examine the aspect of putting your career in the hands of a government bureaucracy.
I don't mean just selling other health insurance, either. In my case, I am expanding into Life products as well, in order to diversify my business so that I will not be subject to the whim of government bureaucrats. It doesn't matter what other products you decide to sell, just diversify. Don't put all your eggs in one basket. The current administration is going to play havoc with that basket.
If you continue to sell MA plans until they no longer exist, AND you have diversified, then their demise won't put you out of business. In the meantime, if some government bureaucrat puts the screws to you, you can tolerate them without the pain you will suffer otherwise.
Just my opinion.... your mileage may vary.