Walmart AEP: Independent Agents are out!

[Ali y]

We’re hiring !

 

[DonP]

So now it's changed again and FMOs have gotten back some of the Walmarts for Independent agents BUT Walmart wants a cut of commissions FOR LIFE! $100 per MA or MS written during AEP and $25 for PDPs. $50 for life of MA and MS policies and $6 for PDPs. Doesn't Walmart already make enough money then to try to take almost a third of agents commissions? I've been at the same store for 14 years, originally with Humana, but this is so wrong of Walmart to do and I can't figure out how it's even legal since you can't split commissions for MAs and PDPs.

You’d have to be an loa for them to reduce your comp . No doubt Walmart is the fmo making the $250 override . But thinking about it Amerilife has a way to structure 18 month advance and small renewals . I’m suprised Walmart doesn’t put loa agents in stores yr round as they have Ins agency .

 

[DonP]

We’re hiring !

Open your books. No way your persistency over 60-65% first yr writing 90% duals/lis over the phone . I replace 30-40 call center apps a month .

 

[senioradvisor60]

You’d have to be an loa for them to reduce your comp . No doubt Walmart is the fmo making the $250 override . But thinking about it Amerilife has a way to structure 18 month advance and small renewals . I’m surprised Walmart doesn’t put loa agents in stores yr round as they have Ins agency .

They are using regular FMOs so the FMOs are still making their override and Walmarts cut is coming out of the agents pocket. No thank you. Plus they are rushing to get contracts signed due by 10 am tomorrow and just found this out last Friday. I'll figure out somewhere else to be and let clients know where to find me. PLUS there is not info on rapid dis-enrollments or changes during OEP or AEP. So if an app is written and the agent gets charged back or that plan is not the last one by Dec. 7 does the agent still have to pay the fee to WM? Greedy Greedy Walmart

 

[DonP]

They are using regular FMOs so the FMOs are still making their override and Walmarts cut is coming out of the agents pocket. No thank you. Plus they are rushing to get contracts signed due by 10 am tomorrow and just found this out last Friday. I'll figure out somewhere else to be and let clients know where to find me. PLUS there is not info on rapid dis-enrollments or changes during OEP or AEP. So if an app is written and the agent gets charged back or that plan is not the last one by Dec. 7 does the agent still have to pay the fee to WM? Greedy Greedy Walmart

They are using regular FMOs so the FMOs are still making their override and Walmarts cut is coming out of the agents pocket. No thank you. Plus they are rushing to get contracts signed due by 10 am tomorrow and just found this out last Friday. I'll figure out somewhere else to be and let clients know where to find me. PLUS there is not info on rapid dis-enrollments or changes during OEP or AEP. So if an app is written and the agent gets charged back or that plan is not the last one by Dec. 7 does the agent still have to pay the fee to WM? Greedy Greedy Walmart

Unfortunately when you write a lot of duals / lis and Walmart will be a lot you’ll have disenrollments . Im sure in disenrollments only your part paid back

 

[goillini52]

You’d have to be an loa for them to reduce your comp . No doubt Walmart is the fmo making the $250 override . But thinking about it Amerilife has a way to structure 18 month advance and small renewals . I’m suprised Walmart doesn’t put loa agents in stores yr round as they have Ins agency .

They're charging agents $1,200 each.

 

[DS4]

You're missing out. You'd love Walmarts meat

Do they cut and wrap their meats in the automotive Department?

 

[senioradvisor60]

Unfortunately when you write a lot of duals / lis and Walmart will be a lot you’ll have disenrollments . Im sure in disenrollments only your part paid back

Thankfully I don't write a lot of duals. Being at the same Walmart for 14 years my current clients come there to find out about their plans for next year and pick up catalogs etc. I'll just have to find another place to be. There is a little walk up business but will have to try some alternative locations.

 

[senioradvisor60]

At $1500 last year, I almost didn't do it at all. This year it's going to be a charge per app set up. Not sure what that charge will be but if it's $50 per app, would've cost 4k-5k. I'd load up on co op mailers instead, along with a handful of other options.

$20 would have been just ok. It won't be lower than that and with many agents opting out at $1500, I'd bet this is not going to go well.

With that said, I was reimbursed more than what I put it by Humana directly, dressed up as marketing money for my hard work. So who knows. Not too worried about doing one last year and not doing it this year.

For the store I've had for 14 years it's $100 per MA and MS app and $50 for life. $25 for PDP and $6 for life plus $600 up front. Not going to do it.

 

[somarco]

Thankfully I don't write a lot of duals. Being at the same Walmart for 14 years my current clients come there to find out about their plans for next year and pick up catalogs etc. I'll just have to find another place to be. There is a little walk up business but will have to try some alternative locations.

If you have a CRM with all their contact info, and are not using a monthly newsletter (shame on you), then do an email blast letting clients know how to reach you.

You might even try handling everything by phone & email vs F2F

Or, you can look for local office space near "your" Walmart and see if you can rent an office for 3 months.