sarasotareverse
New Member
I am from Sarasota Florida. good luck
New Agent
- Thread starter Nice
- Start date
718_Pete_727
New Member
- 2
PM and let me know how it's going with them, I'm new to this whole FMO thing too. I'm in the TampaBay area as well, I chose to go with Network Insurance. Will start with them soon, I'll let you know how that works out.
Brian F 11
Expert
- 92
I'm new to this forum myself. I have years of industry insider experience and years of sales experience, just like you, I am going out on my own this year. Looks like you are running into resistance because you are expected to run searches in the forum for that information instead of asking someone how to or where to. I wish someone would just tell you that instead discouraging you right off the bat lol. That's one of those unwritten forum rules.
First, you are starting at the right time. There are a ton of training and certifications that mist be completed before you can sell anything for any carrier and they do take a lot of time.
Second, many agents have established book of biz that was hammered out the long and hard way. For example, you may see some of them sitting near the front entrance of a pharmacy, for hours and hours, awaiting a Medicare recipient to walk by. Most people can't handle that and throw in the towel early. That's no longer necessary in 2015. There are other, much more effective ways to build your business.
Third, you ARE going to be successful. You can not allow any weak thoughts or doubt to enter your mind or you are already on your way out. You have to decide to make it happen and your ONLY option is success.
As far as an FMO, look into MA Plan Services. Here is where you can get into trouble, make sure that you read the contracts thoroughly, do not contract with agencies that will hold your book of business or commissions captive. Once you sign a contract like that they will own you and your license, forever in some cases.
You can appoint directly with each carrier but that may not be the smartest way to go.
You have to do a lot of homework before you can make any moves in this business.
Good Luck
First, you are starting at the right time. There are a ton of training and certifications that mist be completed before you can sell anything for any carrier and they do take a lot of time.
Second, many agents have established book of biz that was hammered out the long and hard way. For example, you may see some of them sitting near the front entrance of a pharmacy, for hours and hours, awaiting a Medicare recipient to walk by. Most people can't handle that and throw in the towel early. That's no longer necessary in 2015. There are other, much more effective ways to build your business.
Third, you ARE going to be successful. You can not allow any weak thoughts or doubt to enter your mind or you are already on your way out. You have to decide to make it happen and your ONLY option is success.
As far as an FMO, look into MA Plan Services. Here is where you can get into trouble, make sure that you read the contracts thoroughly, do not contract with agencies that will hold your book of business or commissions captive. Once you sign a contract like that they will own you and your license, forever in some cases.
You can appoint directly with each carrier but that may not be the smartest way to go.
You have to do a lot of homework before you can make any moves in this business.
Good Luck
MA Plan services, from personal experience, is a waste of time-too many initial promises that have no basis in fact.
Most experienced agents, like myself, will tell you getting into health insurance now is a formula for failure as commissions are way too low and selling season way too short to ever build a large enough book but it's your choice.
Michgad
New Member
I just got my 2-15 in October as well. I am still waiting on appointments...has been very frustrating. I am working with a financial advisor who feeds me leads. It has been challenging being an independent agent and trying to get training on the logistics of getting appointed, selecting an FMO and getting needed materials and learning how to enroll clients for each company....anyone having better luck on getting started? I sold in the medical field for over 14 years but the insurance lingo from the policy side is new to me....
Brian F 11
Expert
- 92
A few other captive agents and went the independent route last year. I will share my experience so far with you. I am not saying that you will or will not have success, just sharing how it's gone so far. Take what you want out of it. Before you continue reading on, be warned;
rant coming.
I agree they are big waste of time.
Feel a little better knowing I am not the only one who feels that way. They are there for? So far have done nothing for me except help with appointments that we could have gotten on my own. We are already looking for another GA, one that at least offers some guidance that has some value to it. Carrier Reps that we spoke to said they do provide them with leads and retail locations for AEP for them to pass on. Apparently, they don't share those. From what I gather from research and reading through posts in this forum, that is a common practice. Let me know if you disagree. Before going independent, we were great at selling/closing MAPD and supplements, but didn't know needed much guidance with marketing Medicare, or getting in front of the clients. Learned the lesson that marketing is probably 80% of this business. Shame we had to learn what works and what doesn't the hard (and costly) way when there was someone that should have and could have guided these efforts, did very little. No technology offered, nothing. I'm not holding my hand out asking for gimmies, but what the hell do they get paid an override for exactly?
We were also advised that we would do great, excellent, by offering ACA Plans. The market was very underserved in this area, so we were told. So we geared up and focused primarily on ACA Plans. We were formerly captive agents and were great, top ACA producers in the past. We knew how and who to sell it to. It all sounded good to us, so we rolled with it. Big mistake.
The problems started immediately and nothing worked out like it should have. Not having the right game plan can be fixed quickly, shift your focus and move on. There have been so many issues that we did anticipate, as some others on this forum have been able to foresee, that we have not been able to maneuver our way around it all.
There was an insurance company that promised the moon and the stars this OEP, leading us to believe that their plans are going to be very competitive, offering free self enrollment tools we could embed on our website, best support, and so on. We drank the cool-aid. Committed a lot of time and spent a lot of money marketing their brand, only to have them cancel all commission to agents less than a month into OEP. They were also nice enough to charge back hundreds of dollars in appointment fees, wiping out my first commission check. Thanks for that.
We also did not expect to have to compete with (our own) insurance carriers we contracted with and now the mafia, um, excuse me, marketplace, and the insane amount of call us now marketing, enroll now, marketing that is going on. We were looking at retail space in the center of the local shopping malls. The price was too much during Christmas time, so we told the manager we would be interested after the first of the year. We were quoted one price at first, but when we decided to jump in and rent it, the price had went waaay up. Why? Because many of the kiosk spaces were already rented by 'insurance guys' and only had one or two spots open. Who were those insurance guys? One of our insurance carriers holding enrollment events. Since when do Fortune 100 Insurance Carriers rent out mall space and have ACA enrollment events!???
Isn't that the kind of they hire us to do?
We had the rug pulled out from underneath us to say the least.
We were not aware of the shady health insurance carrier and fed govt partnership. Healthcare.gov breaks state insurance laws without any hesitation. Only California has even mentioned anything about what they have done to insurance agents. They still fall short of mentioning all of the high pressure sales tactics and unlicensed transactions that goes down in the marketplace. They call and email people non-stop, sometimes several times a day, putting pressure on them to enroll. Navigators who are only supposed to walk someone through the process or act as the hands of someone who doesn't have a pc, plainly give out insurance advice without ever mentioning to the customer that they do not have an insurance license for the state (or any state) the caller is from. Most consumers just don't know any better and are lead to believe the one size fits all on-market plans are their only option.
The consumer loses out on expert advice and will only learn of mistakes once it's too late, if at all. They have made EVERY effort to do away with agents, the only people who look out for the consumer with their best interest in mind.
Why should insurance carriers pay a licensed agent, including their own captive agents, when they partner up with big government, grease some wheels, and just have unlicensed hourly paid government employees do it all on tax payer money, at no cost to the insurance company?
They no longer have to pay any appointment costs, marketing materials, or commissions to anyone. All while leading you to believe they are so hurt by Obamacare, will not be profitable and losing money. In reality, fact is that most of the large health insurance company stocks have doubled, tripled, or at a minimum showed HUGE Donald Trump like gains since 2013 Marketplace Inception.
All while the marketplace authorities look the other way while these companies cut or cancel all compensation in the middle of enrollment season.
How is any of that legal?
I invest in and make preparations based on the contract I have with each carrier, how can that contract just be changed at any time?
How is this ethical? Integrity is a one way street.
What really makes me angry is that they have the balls to notify us by writing a letter that starts of with a condescending statement like 'We highly value the relationship we have with our agents and deeply appreciate our partnership'. We appreciate it so much that we have decided not to pay you anymore. It should have included something like; 'Additionally, we appreciate you so much that we will work hard to find any way that we can to screw you out of future commissions that we already owe you'.
If you don't see it coming, comp for group plans are in the works and Medicare is soon to follow. One carrier already tried this year, even reversed commissions on already paid MAPD. With some time and bribes, meant to say lobbyists, they will probably succeed.
Don't we have any rights? I guess I only have the right to vent my frustration, and I'm sure someone here will have a problem with that very soon.
My advice, sell real estate or P&C, cars, t-shirts, something the government doesn't have their hands on.
After all that, if you still insist on selling health, join an existing agency that already does very well, does not take too much of your comp and has a straight forward contract.
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Brian, why don't you put this in the general forum in the health care reform forum? I think most carrier's know how we feel about them, but I don't think everyone reads the Florida forum. But good post.
- 795
If any one in Florida needs contracts and training, I can surely help. I am very well versed on Medicare and my agents are all writing business regularly.
Give me a call if you want to chat:
941-786-3822
Penny
Give me a call if you want to chat:
941-786-3822
Penny
