Medicare Renewals

[Melo5457]

If an Independent Agent goes Captive, will they continue to receive their Medicare renewals, on their past policies that were written prior to becoing Captive? Thanks for your response.
Melo

 

[Todd King]

You should, yes. As long as you were vested.

 

[wehotex]

If an Independent Agent goes Captive, will they continue to receive their Medicare renewals, on their past policies that were written prior to becoing Captive? Thanks for your response.
Melo

I actually experienced this. Whatever you do, BE SURE TO GET IT IN WRITING as part of your job offer. I would NEVER do it again since my BOB was large enough to sustain me, but I wanted to try it.

Other agent managers from other companies would tell me that their companies would NOT allow it, but there were NONE who had my particular situation since they had basically never sold before or if they did, the BOB was small. The company that I worked for was dysfunctional to say the least. I had to regularly check to see if I was paid its renewals from my previous Indy status with said company.

 

[vic120]

I actually experienced this. Whatever you do, BE SURE TO GET IT IN WRITING as part of your job offer. I would NEVER do it again since my BOB was large enough to sustain me, but I wanted to try it.

Other agent managers from other companies would tell me that their companies would NOT allow it, but there were NONE who had my particular situation since they had basically never sold before or if they did, the BOB was small. The company that I worked for was dysfunctional to say the least. I had to regularly check to see if I was paid its renewals from my previous Indy status with said company.

Wait are you saying you lost your renewals from being indy and going to agency?

What are the details were you LOA with FMO before hand or did the new agency actually get your renewals ?

How did this actually work

 

[wehotex]

Wait are you saying you lost your renewals from being indy and going to agency?

What are the details were you LOA with FMO before hand or did the new agency actually get your renewals ?

How did this actually work

Wait are you saying you lost your renewals from being indy and going to agency?

What are the details were you LOA with FMO before hand or did the new agency actually get your renewals ?

How did this actually work

That’s not it. I was being paid directly through the carrier that I worked for, but they would miss me occasionally. It resulted in doing extra work with Acctg Dept to get paid for the renewals. I received what I was owed.
It was also difficult to manage my book and do that job- it wasn’t worth it in retrospect.

 

[Melo5457]

Thanks for the replies, so I dont cancel my contracts with the other Carriers just leave them open..or is there a certain status I need to request for the other Carriers ?
thnks

 

[wehotex]

Thanks for the replies, so I dont cancel my contracts with the other Carriers just leave them open..or is there a certain status I need to request for the other Carriers ?
thnks

It’s not the other carriers to be concerned with. Those stay payable to you. If you are receiving renewals from the carrier that employs you, you need to clarify how you will get paid for those and get it in writing. If they f* that up, then RUN!!