WellCare Contract

[GreenSky]

I recall a few years ago having a similar conversation about overrides with my former FMO for Secure Horizons. (Another asshole who would not release - AGA in Orange County, CA).

His override was something in the neighborhood of $200 for a PFFS plan. I was told that because I submitted through him, he tracked the submission and made sure commissions were paid, it was worth it. My response was that was worth about $25 per application - and no more. He did not provide me with leads, supplies were ordered directly from the carrier, and basically there was minimal added value.

After not writing for 6 months and move my contract, to show me how much his services were really worth, he refused to pay me renewals on my other MA business. Since the carriers woudl not tell me who of my clients renewed, I could not prove any loss. Going to court was the only option and my expenses would likely exceed my return.

While this is a very general observation, FMOs are rarely worth a dime. Yes, there are some good ones. Ritter is terrific and both FMOs who post on this thread seem to be honest.

But once again, get the up-front release. FMOs will promise the world but the reality is nothing like the promises. This is my hard and fast rule...Any FMO that will not provide a guaranteed release (pre-nup) is dishonest and not someone worth my time.

Rick

 

[theinuranceguy]

I recall a few years ago having a similar conversation about overrides with my former FMO for Secure Horizons. (Another asshole who would not release - AGA in Orange County, CA).

His override was something in the neighborhood of $200 for a PFFS plan. I was told that because I submitted through him, he tracked the submission and made sure commissions were paid, it was worth it. My response was that was worth about $25 per application - and no more. He did not provide me with leads, supplies were ordered directly from the carrier, and basically there was minimal added value.

After not writing for 6 months and move my contract, to show me how much his services were really worth, he refused to pay me renewals on my other MA business. Since the carriers woudl not tell me who of my clients renewed, I could not prove any loss. Going to court was the only option and my expenses would likely exceed my return.

While this is a very general observation, FMOs are rarely worth a dime. Yes, there are some good ones. Ritter is terrific and both FMOs who post on this thread seem to be honest.

But once again, get the up-front release. FMOs will promise the world but the reality is nothing like the promises. This is my hard and fast rule...Any FMO that will not provide a guaranteed release (pre-nup) is dishonest and not someone worth my time.

Rick

I agree 100% but I would just add a guaranteed release subject to charge back... I know thats what you meant

 

[The Brokerage Resource]

I have learned "WellCare FMO"...

Complete Solutions is an FMO with many carriers, WellCare being one of them... So maybe it takes your receptionist 10 seconds to tell them to call the carrier and check on the status.. big whoop, thats why their should be minimum override...

IF an independent agent wanted the FMO to process bussiness, provide customer support and so on... then I agree, that costs money, take more of the cut....

But for an FMO to recruit a brokered agent, and never talk to them again (which most do anyway) it costs the FMO nothing...

The problem is... FMOs like you think its costs a 20% override or a $200 override on MA's to answer simple questions like...

Whats United Health Cares Phone Number...

By No Means has Complete Solutions adopted this mindset...

But I have been independent and I now sit on the executive board of our very large FMO...

I see both sides.... But I tend to be more agent Friendly...

Unlike many people who work very closely with FMO's, I still go out in the feild and service my book of business...

I know the feeling of being an agent, many marketers have lost that touch...

You have just proved my point.. When you work with a good FMO we do
not just give you United Health Cares number we fix the problem for you.

So maybe it does not cost your company anything to work with and agent because your giving such bad service.

 

[senior-advisor-indiana]

You have just proved my point.. When you work with a good FMO we do
not just give you United Health Cares number we fix the problem for you.

So maybe it does not cost your company anything to work with and agent because your giving such bad service.

Any decent agent takes care of the problem themselves. We can do it in half the time it takes a FMO to do it. That is not a good reason to give up any amount of commission.

 

[theinuranceguy]

You have just proved my point.. When you work with a good FMO we do
not just give you United Health Cares number we fix the problem for you.

So maybe it does not cost your company anything to work with and agent because your giving such bad service.

Independent agents dont want help... They want the highest commission paid directly from the insurance carrier with a release when wanted PERIOD.

There is ZERO value with any FMO helping any Independent agent...

I would rather get a higher commission than have the luxury of getting an insurance companies phone number from your help...

WellCare FMO you have no idea what independent agents want...

Now for capitive agents... agents who need help... agents who need their hand held... take the commission, hell take 3/4 or it... its expensive to pay for leads, training, customer service... trust me WE KNOW...

But for me to recruit an agent... and for him/her to be competant enough to go out and do it themselves with no help... its costs us nothing...

Every FMO's Dream

Get a CLUE!

 

[The Brokerage Resource]

Ramiz,

Which WellCare contract do you have? PFFS or HMO.

 

[GreenSky]

There is another "issue" with the FMO system. My former WellCare FMO (RBI-Bob Bever) has blacklisted me with WellCare. The company cancelled my contract at his request and now refuses to issue a new one with another FMO.

FMOs have WAAAAY too much power with some carriers.

Rick

 

[MedSuppPro]

My former WellCare FMO (RBI-Bob Bever) has blacklisted me with WellCare. The company ...now refuses to issue a new one with another FMO.

Rick,

I don't doubt your post. But, how do you know this?

Is it possible that WellCare is the reason for your blacklisting?

 

[GreenSky]

Rick,

I don't doubt your post. But, how do you know this?

Is it possible that WellCare is the reason for your blacklisting?

That is likely but the reason for the issue is that Bever canceled my contract a few days before I would have been able to re-contract.

I made a VERY big fuss about my request to be releases and obviously WellCare was not happy with that. I told WellCare that the need for a release (hidden from me when I signed the contract) was and is dishonest. And I made this statement public on this forum (probably did not help my cause).

I always speak the truth and speak my mind. I don't like the way the Duet plan is marketed and that may have ticked off the company as well. But if Bever had not demanded the contract cancellation - an entirely unnecessary demand - this would not have been a problem.

The funny thing is that my issues with Bever were primarily caused by their company's own marketing representative who gave me incorrect information as if it was gospel. I argued with Bever based upon this information. Why Kim Ashley, the WellCare representative would not take responsibility for her statements and help me is beyond me.

So the bottom line is WellCare won't issue a new contract even though the termination is "without cause." No other company has ever treated me this way.

By the way, officially they give no reason for not offering another contract. Very honest! NOT.

Rick

 

[MedSuppPro]

Rick,

So… your passionate and will defend yourself. And you'll defend your way to make a living. And it sounds like you have integrity.

So… who was the FMO that should have helped you get your 2nd attempt to contract through WellCare? They should have acted like a real FMO and made it happen for you.