Just broke overrides gone Anthem. I’m owed an apology

[Special Agent]

Yes if overrides truely taken away . Won't matter if first yr or renewals

Ouch! no wonder the FMO are filing lawsuits.

 

[goillini52]

Yeah, pretty much.

Essentially, a street contract, is an "agent" level. First tier above that would be GA (general agent), then MGA (master general agent), then I believe it's NMO, then a couple more tiers.... FMO/IMO typically is used in conversation to refer to the top level tier, but sometimes others use it to describe all the levels rolled into one.

I think these terms originate in the traditional insurance side, and were naturally used in the MA side as well.

One party could have all the levels, or just one level, above the agent level.

For an agent to be lower than the street level, typically, they would be an LOA (licensed only agent), and commissions on their sale are paid to a different party, then paid to the agent. In an LOA contract, the direct upline could be at the street contract "agent" level, or any of the levels above, but they set the commission amounts for each product. This is pretty common in business where you might be paying a base salary, benefits, leads, etc to the LOA agent. The LOA structure wouldn't be impacted by these changes. But that setup is generally frowned upon by the agent community.

The way it looks now, is all those levels above street will be eliminated, and the agent level will get a boost.

But, the carriers dont want to provide all the duties the FMO has been provided, some of that is just general HR type of stuff like contracting and licensing management....for 100k agents

I think NMO is at the top.