Medicare agents - 2025 - CMS Rule Changes

[LostDollar]

Personally, I do think there is a lot of extra expense paid out which realistically should be spent on healthcare. Not trips, bonuses and other fluff that these so called "FMO's" hand out based on what they collect in overrides etc.

Thank you very much for making that statement.

I am not an agent so I have no way to judge, but comments by other agents about what they might consider reasonable compensation suggested that to me.

 

[MedicareAgent]

[EXTERNAL LINK] - US health insurers Humana, Cigna in talks to merge -source
to tired to start a new thread.

 

[Fisher]

If all of that disappears it will be that much harder for anyone to break into the business. I took the time to learn the products starting back in May and have had decent success my first year with this with almost no marketing cost to me. I think that is any agent's dream. To take that away would really suck.

To be fair, those of us who have been in the trenches for a certain period of time built our book with NO marketing help. It didn't exist (as far as I knew, anyway). I can see how it would suck if receiving marketing assistance is all you have ever known, but I can't work up any sympathy for your situation.

Either you buckle down and find a way to make it work or you throw in the towel because it's too hard and you don't want to do hard things.

 

[sshafran]

To be fair, those of us who have been in the trenches for a certain period of time built our book with NO marketing help. It didn't exist (as far as I knew, anyway). I can see how it would suck if receiving marketing assistance is all you have ever known, but I can't work up any sympathy for your situation.

Either you buckle down and find a way to make it work or you throw in the towel because it's too hard and you don't want to do hard things.

100% agree.

I sometimes sound old (will hit 40 in 2024, so maybe I am) and cranky when I get annoyed at new agents who ask 500 questions in Facebook groups.... We used to read underwriting guides and actually learn how these things worked. Granted I did have the forum when starting but it was much slower to get help... Had to figure it out most of the time.

I think there is value in figuring it out, just like there is value is spending your own $ on marketing. Skin in the game.

 

[renee15]

FMO's do as little as possible

 

[renee15]

Starting with...I'm not an FMO and don't really get their value since most of the time they don't know the answer to my questions, anyway.

This is a BAD idea.

There will be no one left to train agents. It will eliminate FMO's. Which will lead to captive agents. That is NOT what is best for the country.

Nope- I started selling in the beginning-2005. The carriers had training meetings. There were ZERO FMO's in my state. That came later when carriers decided it was easier to send info to the FMO to disseminate. It all worked out.

 

[Rossat]

So you think it is ok to just take away money from Medicare Beneficiary healthcare funding to pay for whatever you think you need for your own personal business development?

Perhaps this isn't the case for all, and perhaps you wouldn't know this since you're not an agent, but in order for me to get any "marketing support" I'm required to provide how/when those dollars are being spent and how they support business growth. The FMO and/or carrier then decide how its dispersed. I'm required to keep receipts and can be audited at any time for proof.

Just reiterating what I put in another thread.... this in NO WAY saves money for the Medicare program. There's no "taking away money from" here. It's already been paid from the pot to the carriers.

It keeps the money in the hands of the carriers who will in turn use it how they see fit. What I foresee is a huge influx of captive agents. Which, ironically, creates the situation CMS is trying to avoid with admin/marketing dollars swaying individuals to a plan/carrier based on compensation to that agent.

 

[LostDollar]

Perhaps this isn't the case for all, and perhaps you wouldn't know this since you're not an agent, but in order for me to get any "marketing support" I'm required to provide how/when those dollars are being spent and how they support business growth. The FMO and/or carrier then decide how its dispersed. I'm required to keep receipts and can be audited at any time for proof.

Just reiterating what I put in another thread.... this in NO WAY saves money for the Medicare program. There's no "taking away money from" here. It's already been paid from the pot to the carriers.

It keeps the money in the hands of the carriers who will in turn use it how they see fit. What I foresee is a huge influx of captive agents. Which, ironically, creates the situation CMS is trying to avoid with admin/marketing dollars swaying individuals to a plan/carrier based on compensation to that agent.

So the legislation being discussed does not reduce the outflow of Medicare dollars from the government to the insurance carriers?

 

[InsuranceGuy29]

Perhaps this isn't the case for all, and perhaps you wouldn't know this since you're not an agent, but in order for me to get any "marketing support" I'm required to provide how/when those dollars are being spent and how they support business growth. The FMO and/or carrier then decide how its dispersed. I'm required to keep receipts and can be audited at any time for proof.

Just reiterating what I put in another thread.... this in NO WAY saves money for the Medicare program. There's no "taking away money from" here. It's already been paid from the pot to the carriers.

It keeps the money in the hands of the carriers who will in turn use it how they see fit. What I foresee is a huge influx of captive agents. Which, ironically, creates the situation CMS is trying to avoid with admin/marketing dollars swaying individuals to a plan/carrier based on compensation to that agent.

I don't see how this will lead to captive agents. For one, most brokers would not stand for that and would move on. I know I would. I'm not going to be anyone's employee ever again. Whether they like us or not, brokers are VERY much a necessity for this industry. As it is right now, the carriers provide most of the training anyway, so what would change? This also doesn't mean FMO's will go away....their margins are just gonna get slimmer and they will take more from the agents, of course. I can see some of them going away, but FMO's will always need to be around in this industry because carriers don't want the extra huge financial burden and regulatory burden of taking on millions of more agents. Mark my words...it'll work itself out, but I don't think making FMO's go away completely is a good thing for the industry, government's interest, or carrier's interest.

 

[axeman462]

FMO's do as little as possible

how is that different from literally anybody else, in any other industry.

This is America.