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Should CMS end the FMO contracting level for agents selling MA and PDP’s?
How would I then get my over ride?
How would I then get my over ride?
CMS Proposal to End Multilevel FMO Marketing
- Thread starter MedSuppPro
- Start date
No way that will happen, it would destroy the entire structure of the industry
The only things that will change is the agent will no longer be allowed to split the FMO's override, get reimbursed for marketing, gas etc.., and will no longer be allowed to get bonuses from their upline if they produce X amount of MAPD policies in X amount of time.
If anything, this will only benefit the FMO levels and up. The independent agent gets the shaft
@Todd King still waiting on that email...
If anything, this will only benefit the FMO levels and up. The independent agent gets the shaft
@Todd King still waiting on that email...
Your snapped if you think any good agents going to allow a greedy ass fmo that does very little to make $250 and the agent has to pay all his marketing . Bs . Why would the fmo be allowed to make overrides and not the ga , mga and imo ?
I may have misspoke when I said FMO, what I meant was, in general, any entity that has a contract higher than a street level agent does.
It sounds like CMS is going to crack down on FMOs handing out GA contracts to agents that don't have any type of a downline.
I wouldn't be surprised if certain level contracts (such as GA, MGA, SGA etc..) get eliminated as a result. Some agents will probably be forced down to a street level contract.
National FMOs will use the excuse "we are just complying with new regulations" when they force an independent agent down from a GA or MGA contract down to street level.
At the same time, bonuses are stripped, marketing incentives are gone, but the profits of Neishloss and Flemming, Integrity, Senior Market Sales and the rest grow.
If you haven't read the proposal from CMS, you should. It almost looks like it was written from by national FMOs
I read every word and I’ve listened to several fmo podcasts . It’s saying no commission above the $642 national comp period . . Please show me were it says anything about any fmo making an override . Matter if face on several fmo podcasts there saying if this passes the override model is over . Only agents and agencys with loas can survive
Override model to the selling agent.
FMOs like Todd King, and several others on this forums will still be able to collect an override.
What CMS is trying to stop is all the incentive money flowing to the field agent in an attempt to stop the field agent from steering people to products that ain't right for them.
This incentive money includes HRA fees, marketing money, and overrides shared by the FMOs.
Many street level agents that don't have a downline have higher paying contracts like GA and MGA even though they don't have the requirements met for these contracts
Your incorrect . It specifically beats up fmo overrides . 4 fmo’s I listened to said game over for fmo’s if this passes . Your interpreting this wrong . I for one will cut my Medicare business at least 50% without marketing money . I’ll go back to fe mostly . Lol I’m not paying $70 for a direct mail lead we’re in July you make $150 .
I suppose it's possible I'm wrong. Don't matter much, I ain't going nowhere, and if it thins the herd, so much the better. The market is totally saturated, less agents to compete with would be great
InsuranceGuy29
Guru
- 410
I'm still trying to figure out where all this "incentive money" is. Can I get in on this?? I'm a normal broker....I don't see a red cent extra from my FMO(s) or the carriers, aside from the one-time-peanuts-payment to do an HRA that I can go buy a few packs of gum with. Is this the "incentive money" people and CMS thinks us brokers are "ballin'" with and buying imaginary Lamborghinis?
If that's what they're referring to as "iNcEntiVe MonEy," to "sTeeR" a person onto MAPD's, then these bureaucrats are absolutely f*cking clueless and lost. Let's also not forget (and this is something that NEVER gets mentioned), the FMO's take an extra 25% from me (us), per policy, on average, right off the top as their commission from us. That's a HUGE chunk of money, especially when you factor in the huge taxes we all pay.
I easily make WAY more on a supplement, with bonuses, extra D/V/H policies, and extra PDP policy. What's happening right now is what happens when government starts meddling in things they know absolutely nothing about.
They all think people are being "heavily incentivized" to "steer" people to MAPD's. Excuse me for a second..... LOLOLOLOLOLOLOLOLOLOLOLOLOL! Okay, I'm back now. Nothing but misinformation. The way this is all shaping up, pretty soon we're all gonna be better off saying "Would you like fries with that?"
The more clownish f*ckery I see in life from the government, the more I understand why the Mafia was formed and exists.
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