First Year agent wrote 40 MA plans

[MatchINS]

So this is my first year being a Medicare Agent, I was able to write 40 plans all MA. Not sure if this is a decent amount to write as a single agent, but I hustled it. That being said, my FMO (AP) seems like they can care less about the work that I have done. I received one phone call this entire AEP, basically patting me on the back to say good job. Got a call this morning from my rep at Agent Pipeline saying that I was his top agent.....thanks! There has got to be more than a thanks??? I realize that I get paid my commissions from the carriers, but seriously shouldn't I get some kind of bonus from my Upline, or is that not a thing in the Medicare Ins world?

That being said, what is the process for switching FMOs?

 

[Midlevel]

You got a thanks? They aren't allowed to pay bonuses, take you on trips, etc for MAPD plans. Been making my FMO tens of thousands of dollars for 25 years and most I get is an offer for reduced lead cards that have been sent out 50 times before. The carriers are the ones that kiss my butt and throw money at me to use for advertising, promotional items, etc. FMO's are a worthless middle man that the companies make us use that get filthy rich off of us.

 

[alldaytuesdays]

Sorry to say but get used to it! I've written 200+ MS policies a year for 14 years and have just gotten a few 'thanks' via email, very few and far between and minimal bonuses (to be fair, I did win an iPad one time from an FMO), "discounted" mail drops, and the occasional junk from an insurance company. Unless you are a new agent in need of training/support, FMOs don't offer much of value.

 

[Travis Price]

If you're looking for more than an attaboy in this industry, you're going to be disappointed.

You are a business owner, your the one that engages and congratulates you. FMOs are only there for contracts. They may have other perks, but that's just "in addition to.."

As for bonus.. you get those at renewal or if there's an agency level event. You could ask for marketing dollars, but that's all you should expect.

 

[Travis Price]

You got a thanks? They aren't allowed to pay bonuses, take you on trips, etc for MAPD plans. Been making my FMO tens of thousands of dollars for 25 years and most I get is an offer for reduced lead cards that have been sent out 50 times before. The carriers are the ones that kiss my butt and throw money at me to use for advertising, promotional items, etc. FMO's are a worthless middle man that the companies make us use that get filthy rich off of us.

They us FMOs because they don't want to handle 1000000000 agents that could rationalize they're employees. It's not to make FMOs money, it's to save the companies money.

 

[DonP]

50’s good but to get perks you need to be at 125-400 . By perks I mean $25 k of marketing money from the fmo and carriers . Carriers giving non taxable “ marketing “ reimbursement. But you’ll find out as the yr goes by after your first aep the sting of chargebacks especially during oep . You have no renewals to absorb chargebacks . So you’ll be writing some weeks in oep to absorb chargebacks and you’ll make nothing . Your going to find out writing apps easy part . Keeping them on the books the hard part . It takes tremendous contact and touching clients many times a yr . You must build relationships to have good retention.

 

[goillini52]

It takes tremendous contact and touching clients many times a yr .

Where do you recommend they be touched?

 

[Chazm]

I personally hate when my FMO reaches out to call me. Stop wasting my voicemail space during AEP. It’s a real thing.

 

[sshafran]

So this is my first year being a Medicare Agent, I was able to write 40 plans all MA. Not sure if this is a decent amount to write as a single agent, but I hustled it. That being said, my FMO (AP) seems like they can care less about the work that I have done. I received one phone call this entire AEP, basically patting me on the back to say good job. Got a call this morning from my rep at Agent Pipeline saying that I was his top agent.....thanks! There has got to be more than a thanks??? I realize that I get paid my commissions from the carriers, but seriously shouldn't I get some kind of bonus from my Upline, or is that not a thing in the Medicare Ins world?

That being said, what is the process for switching FMOs?

Sorry but 40 just won't get you a ton of extras. @DonP is right you need to be over 120 to really start making noise.
It's hard to get over that in pure new business during AEP. I was over it this year and did not get more than a phone call. One way agents (myself included) can write 100 or even 150 plus is there is some internal replacing going on. Not to pad numbers but it just happens.

40 is a good start and while they may not make noise about it, be patient. These carriers will track it - and FMOs track it. Next year in July/August they may say, "You did 40 in '22. What do you think you'll do in '23? If "X" we can support that with $$ upfront."

This year I got a bunch up front then mid-way thru AEP got a call saying I hit a metric and another deposit was coming.

Keep pushing and write during "lock out" and keep building and the $ will be there.

Then, if not, then look for a new FMO. But wanting to jump ship because you "only" got a call (and you only wrote 40) doesn't look too good.

 

[DS4]

40? I do 10x that and get a birthday card. I do have strong contracts though and don’t require any hand holding.