Strictly Medicare FMO's

[senior-advisor-indiana]

Tex, there are a few agents on here that offer better than street contracts for most MA plans. No need for an FMO.

Anyone offering better than street for Pyramid and Coventry?

 

[theinuranceguy]

If Ive said it once, Ive said it a million times...

A true independent agents mind set should be on High commissions, release at anytime, and paid direct from carrier.

I would never take a cut or even accept street for leads or home office support.

GA contracts for Indy Agents and I never want to talk to the FMO PERIOD.

FMO's will promise you the world… and 99% of the time will not work out… Leads suck, they don't answer the phone, or there is something going wrong.

I have only found a handful of FMO that have looked me in the eyes and said I will give you high contracts, a release at anytime, pay direct from the carriers and that's it. I will not give you leads, and we cant afford to field your carrier questions, just call the carrier direct.

May sound nuts, but that's exactly what I look for!

 

[GreenSky]

If Ive said it once, Ive said it a million times...

A true independent agents mind set should be on High commissions, release at anytime, and paid direct from carrier.

I would never take a cut or even accept street for leads or home office support.

GA contracts for Indy Agents and I never want to talk to the FMO PERIOD.

FMO's will promise you the world… and 99% of the time will not work out… Leads suck, they don't answer the phone, or there is something going wrong.

I have only found a handful of FMO that have looked me in the eyes and said I will give you high contracts, a release at anytime, pay direct from the carriers and that's it. I will not give you leads, and we cant afford to field your carrier questions, just call the carrier direct.

May sound nuts, but that's exactly what I look for!

If I said it once, I've said it a thousand time. You're not as dumb as others say you are. (And when I say "others" I specifically mean SAI).

You state my position better than I do. I have found only a handful of FMOs that I trust with my business. They work for me, not the other way around.

Rick

 

[Bob_The_Insurance_Guy]

Really?

So, in other words, Humana and Coventry both lied to me when I asked if I could go direct, as an independent agent. I was told by both that, to sell Medicare Advantage, I would have to go through an FMO.

What you're saying is that they were wrong, and lied to me. I have been licensed to sell the individual and group product for each company, and was told by both that Medicare Advantage sales is handled differently, and that I had to go through an FMO.

Interesting.

 

[senior-advisor-indiana]

I do have some of my contracts through FMO's. One of them being Coventry. YOu might be right about them making you use an FMO with those companies.

 

[theinuranceguy]

If I said it once, I've said it a thousand time. You're not as dumb as others say you are. (And when I say "others" I specifically mean SAI).

You state my position better than I do. I have found only a handful of FMOs that I trust with my business. They work for me, not the other way around.

Rick

SAI is a hater...

But honestly, I talk to newly licensed agents all the time, and I am surprised how some of these GA's stay in business. Just the other day I spoke to a newby who was coned in to a 50% FE contract with free telemarketed leads (recorded message press 1 for more info).

Id rather double that commission and buy my own telemarketed leads.

Only reason why anyone should be captive or take a cut in commission would be to get training, in my opinion. (maybe if they needed group health or couldn't afford leads right away, I guess)

Oddly enough, there are actually people out there that pay above street and still answer the phone when you call to help you through cases. Sadly, most of these people are not FMO's.

 

[senior-advisor-indiana]

Oddly enough, there are actually people out there that pay above street and still answer the phone when you call to help you through cases. Sadly, most of these people are not FMO's.

I remember when you worked for an FMO and you would not answer your phone. NOw that you left you answer your phone most of the time and always return calls. it's either because you do not get paid to sit around and play poker anymore, or you got tired of me busting your chops about it.

 

[theinuranceguy]

I remember when you worked for an FMO and you would not answer your phone. NOw that you left you answer your phone most of the time and always return calls. it's either because you do not get paid to sit around and play poker anymore, or you got tired of me busting your chops about it.

Haha! Its a mind set with people that work for FMO's. We gotta make ourselves look busy. Im a thousand times more busy now, but I still make time to return phone calls.

As for the poker thing... lets just say I still miss a couple phone calls here and there because I got a pocket pair.

 

[Guest]

the main problem with NOT appointing under as FMO
is the damn delay in Pay. I know that's a non issue
for all you guys, but I'm a disabled Iraq Veteran and
I have good days and bad days so far as getting around
goes.

When I write an App., I need to get paid quicker than
1 to 2 months in worst cases...

I mean if I can't work but a couple days in a week ( sometimes )
I need to have some peace of mind that I can pay bills & eat.

That means getting paid within 1 week or by-monthly,
I think that's fair... And I don't think going direct will get that.

 

[honestagent]

the main problem with NOT appointing under as FMO
is the damn delay in Pay. I know that's a non issue
for all you guys, but I'm a disabled Iraq Veteran and
I have good days and bad days so far as getting around
goes.

When I write an App., I need to get paid quicker than
1 to 2 months in worst cases...

I mean if I can't work but a couple days in a week ( sometimes )
I need to have some peace of mind that I can pay bills & eat.

That means getting paid within 1 week or by-monthly,
I think that's fair... And I don't think going direct will get that.

My advice (take as you wish) is if you plan to do Med. Adv. (assuming that still will be in the works for 09 - PFFS) then do NOT make that your sole gig if you're wanting the 'peace of mind' to pay bills and eat.