FMOs/Brokers & Med Advantage

[chigal]

So I am a licensed rep and have been selling MAPD SNP plans as an employed agent for the past 5 years. I've been thinking recently about expanding my options to include other sales and leaving the health plan to work as a broker. However, I want to keep selling the MAPDs, specifically the SNPs, that work with brokers and I cannot find anywhere how exactly this works when you sell through an FMO. I know the plans do not send leads, but could anyone explain how exactly the process works? Are there many brokers out there who sell this insurance, and how exactly do they go about it? Not asking anyone to give up their secrets, but just from doing the SNP sales for the past 5 years I know how grassroots and time consuming it can be, so I wouldn't think many brokers wouldn't have much luck or even bother with it. And their typical clients for other insurance probably wouldn't qualify for a SNP (low income or chronically ill).... so how would they even find any leads withuot putting in all the effort in the field? Is there a ballpark average of how many MA plans (stand alone, PD, or SNP) a broker would sign in a month? Do any FMO's have brokers who "specialize" or focus solely on this sector of insurance?

Thanks!

 

[midwestbroker]

If I am reading your post correctly, you sell plans now for a carrier (captive) and want to go indy to continue to sell what you do now, and expand to other plans. Correct?

 

[Stephen]

Go to medicare.gov and review the plans available in your area. Call them and ask for someone in agent marketing and they will be able to point you in the right direction.

 

[chigal]

If I am reading your post correctly, you sell plans now for a carrier (captive) and want to go indy to continue to sell what you do now, and expand to other plans. Correct?

That is correct. I guess my main question was do brokers really sell that much SNP business? Since I know how labor intensive it is to find these people, and especially the dual eligibles, they likely aren't that involved with an FE, or other insurance types. So having all these other options, why would a broker worry about SNP business unless they happen to come across someone? Despite the ability to sell outside AEP, it would seem like there is easier money made selling straight MAs and med supps to age ins. Thoughts?

 

[GreenSky]

I've sold hundreds of SNPs and am 100% independent (mainly because I don't play well with others).

Obviously it can be done but you need to know how to solicit the business.

Rick

 

[SportsNut]

I've sold hundreds of SNPs and am 100% independent (mainly because I don't play well with others).

Obviously it can be done but you need to know how to solicit the business.

Rick

No kidding... who would have guessed this startling news

 

[VolAgent]

No kidding... who would have guessed this startling news

I hear it all started when he came in second for Most Likeable in high school. He just snapped or something.

 

[Todd King]

When does AEP end anyway? I've got a few apps I took at the end of December that I need to get in.

 

[bpenn9]

When does AEP end anyway? I've got a few apps I took at the end of December that I need to get in.

I think you have 24 day window to get those in so you should be fine.

 

[Bill_Kiray]

We only deal with independent agents, and we have a lot that sell SNP's. Most of our agents work to make extensive contacts in the community (Senior Centers, Churches, Subsidized Housing, Soup Kitchens, etc.), and those contacts then start routing potential applicants to them.

Additionally, some of our carriers will schedule community events and allow our agents to come and work them. This has usually resulted in 2-3 sales per event. Referrals from these are also very common.

Direct mail leads have not usually been very successful, although we are trying a new piece from one of our vendors that they are claiming pulls very well. The jury is still out on that, but that hasn't been a method that a lot of our agents have used to great success over the last few years.
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When does AEP end anyway? I've got a few apps I took at the end of December that I need to get in.

You are kidding, right?