Where to hire LOAs

[Newby]

I think it might be evolving to be slightly more common in the Medicare space. Salary + some type of commission, work in an office with the agency owner.

There is a very successful agency in my town that just hires people like bank tellers or retired school teacher type people. And pays them minimum wage and probably around $100 bonus for each Medicare plan they sign up. The agency owner keeps all the commissions and all the renewals. But he does a good job of driving traffic to the office with television advertising and other media. He has been making bank many years. And those employees are not the type that really think of themselves as agents. They are just clerks.
It’s a great model for the agency owner.

 

[UKTX]

Can you say more about "Even worse, if they are traditional style agents they will churn your book and all you will be left with is debit balances" Specifically what do you mean by "traditional style agents" and churn my book?..

By "traditional style" I mean the ones that think that they are building their own business, independent etc etc. Not like W2 employees for example.

By churn you book, what I mean is you LOA the agent. Pay their leads, office etc etc. They enroll a client. They believe it to be their client, rather than one for your agency (even though they were sat in your office, using your leads etc) When they leave they roll all the clients they enrolled. They don't care because they are generating all new commmissions that are paid directly to themselves. Meanwhile, the plan that they enrolled while they were LOA cancels, you are left with chargeback, after you paid the agent whatherver the comp was you agreed while they were LOA. They are free and clear.

I would never LOA a "traditional style agent". You couldn't pay me enough to do it. That doesn't mean you can't have LOA's. I have turned many CSR's in my office to LOA agents.