Medicare Advantage FMO Overrides

[Todd King]

IMO / FMO can pay the writing Agent what ever they wish out of their spread . . .

Only if the agent is LOA to the FMO.

 

[wehotex]

Only if the agent is LOA to the FMO.

Break it down, please. What is "LOA"?

 

[GoPokes]

I'm under an agent (who was granted FMO status, it's what he told me) who gets about this amount . I suspect that he keeps any leads that come from his upline instead of passing them down. This business is full of crooks. He's not even the worst that I've seen.

My contract is above street, and I dont get any leads that could even be passed on. If I remember you correctly, didnt your upline agent promise you some perks when you signed up, that he never delivered on? I can you your reasoning for being generally disappointed if that's the case.

 

[Todd King]

Break it down, please. What is "LOA"?

Licensed Only Agent. That just means that you assign all of your commissions to the upline and they pay you out of pocket.

 

[wehotex]

My contract is above street, and I dont get any leads that could even be passed on. If I remember you correctly, didnt your upline agent promise you some perks when you signed up, that he never delivered on? I can you your reasoning for being generally disappointed if that's the case.

he told me that he would pay me MORE than street, but then said that he couldn’t because of carrier rules.
Another up line informed that I could get above street IF I get 1 (one) agent under me. If true, he could have mentioned it. Current up line has also been excruciatingly slow with sending business cards which he promised. The one that I’m considering seems more on “top of the game” than current one who seems more interested making his $500 MAPD sales than helping out.. I’m not sure why he even works. He must have more money than Gawd.
I have been selling the products for a long time, don’t need training or guidance. He needs to put up or get the hell out of the way.

 

[myinsurebiz]

Only if the agent is LOA to the FMO.

Nothing stopping an Agency sharing their over-rides and marketing money with their Agents . . .