Stay Captive or Go Independent- Please Advise

[hlb96]

I am a career (captive) agent for a large Medicare Advantage company. I am going on my third year with them and it is getting more difficult each and every month with all the directions they are wanting us to go in. I make around 100k a year. I am trying to decide and start planning now for the possibility of being independent this AEP. Our Med Supp rates are high and our other products are very limited. I know I want to stay primarily in the Senior Market. I will be making this jump with another career agent. I will get paid more commission and a higher perpetuity as an independent agent. Also I could probably switch a large number of my members to my competition, since there plan is better. I am hoping to write 4-500 MAs this AEP if I go independent versus 100-150 staying career.

We would be in Lower Alabama, Mississippi, Louisiana, South East Texas and possibly Arkansas.

I would like to use our experience and training to have agents under us so that we would get overrides off of their sales. I know some companies require 5 agents and some 10 to get this.

I have looked at Quotit for our website but am open to any and all suggestions. I need some good companies and contracts for Med Supp, Final Expense, Dental, Life, Health and Cancer or anything else anyone suggest. Also a good place to purchase list from. I have our company name picked out also. Just looking for some guidance on what to do and not do.

 

[moonlightandmargaritas]

Just looking for some guidance on what to do and not do.

I would be very cautious about making any big commitments in the Medicare Advantage arena. After the $8 billion subsidy evaporates at the end of this year, there's bound to be changes.

The companies will start to cry poor-mouth, and guess what the first expense they claim they have to cut in response will be?

That's right...agent comp. What's your plan if it's cut in half like IFP has?

 

[hlb96]

I would be very cautious about making any big commitments in the Medicare Advantage arena. After the $8 billion subsidy evaporates at the end of this year, there's bound to be changes.

The companies will start to cry poor-mouth, and guess what the first expense they claim they have to cut in response will be?

That's right...agent comp. What's your plan if it's cut in half like IFP has?

That's part of the reason to go independent and diversify. Any suggestions on what market to be in?

 

[bpenn9]

I am a career (captive) agent for a large Medicare Advantage company. I am going on my third year with them and it is getting more difficult each and every month with all the directions they are wanting us to go in. I make around 100k a year. I am trying to decide and start planning now for the possibility of being independent this AEP. Our Med Supp rates are high and our other products are very limited. I know I want to stay primarily in the Senior Market. I will be making this jump with another career agent. I will get paid more commission and a higher perpetuity as an independent agent. Also I could probably switch a large number of my members to my competition, since there plan is better. I am hoping to write 4-500 MAs this AEP if I go independent versus 100-150 staying career.

We would be in Lower Alabama, Mississippi, Louisiana, South East Texas and possibly Arkansas.

I would like to use our experience and training to have agents under us so that we would get overrides off of their sales. I know some companies require 5 agents and some 10 to get this.

I have looked at Quotit for our website but am open to any and all suggestions. I need some good companies and contracts for Med Supp, Final Expense, Dental, Life, Health and Cancer or anything else anyone suggest. Also a good place to purchase list from. I have our company name picked out also. Just looking for some guidance on what to do and not do.

I worked for that same company for nearly 6 years. I know exactly what you are going through. I made the leap in Aug of last year and never looked back.

 

[hlb96]

I worked for that same company for nearly 6 years. I know exactly what you are going through. I made the leap in Aug of last year and never looked back.

Not enough post to answer your PM, but the answer is yes. PM your email address if you want so I can respond. If not I understand and will work on getting my post count to 20 so I can respond through PM.

 

[TylerDurdan]

That's interesting I am meeting with a MA company pretty soon.

 

[bpenn9]

Not enough post to answer your PM, but the answer is yes. PM your email address if you want so I can respond. If not I understand and will work on getting my post count to 20 so I can respond through PM.

My email address is [email protected]

 

[hlb96]

My email address is [email protected]

Thanks, sent you an email to the one in your PM.
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That's interesting I am meeting with a MA company pretty soon.

Which one are you meeting with?