Florida Appointment Help Needed

indmedins · 04-10-2008, 06:36 PM

I live in Florida and was wondering whether to go direct with these health carriers or through an FMO or GA.

Here are the companies I want to sell for:

Aetna
Assurant
Avalon
AvMed
Blue
Celtic
Golden Rule
GTL
World
Humana

If I should go direct, then please list who I should go direct with. And if I need a GA or FMO for some of these carriers, then please point me in the right direction as to who I should contract with as I am confused at which FMO or GA are well respected.

I was reading on the forum about how some GA or FMO offer free E&O which sounds good to me too. Any and all help is appreicated.

PS If you recommend any other carriers, please let me know. Just trying to get my business off the ground and want to offer more companies than I currently offer.

moonlightandmargaritas · 04-10-2008, 06:42 PM

Didn't you believe me on the last round of posts (on a different thread) about Blue Cross Blue Shield of Florida?

healthagent · 04-10-2008, 06:43 PM

Well you need a small book. Do you need commission advances or can you go as-earned? Makes a difference.

indmedins · 04-10-2008, 06:49 PM

Quote:

Originally Posted by moonlightandmargaritas

Didn't you believe me on the last round of posts (on a different thread) about Blue Cross Blue Shield of Florida?

I did. I am looking to sell group with Blue if possible. And, I compiled the list from a while ago when I was searching for the best companies in Florida.

indmedins · 04-10-2008, 06:52 PM

Actually a mix of as-earned and advances would be great. Right now I am on a year advance from Assurant at my GA, but if a client cancels within the first year I lose all my commish which I don't like. I was hoping I could keep my commish pro-rated based on however many months they were on board.

healthagent · 04-10-2008, 06:54 PM

What? You only get charged back the portion of unearned advance. So if you take an Assurant advance of $1,200 and the client cancels after 6 months of premiums were remitted you get charged back $600 - not $1,200.

moonlightandmargaritas · 04-10-2008, 06:55 PM

About half of the companies on your list are worthless from a competitive standpoint (Celtic would be a prime example). No need to waste your time.

Geography makes a HUGE difference, it's a big state. Where are you located in Florida?

indmedins · 04-10-2008, 06:57 PM

No. I get charged back for the whole year advance. But, I have heard from some people they get a pro-rated chargeback. I thought this was possible.

healthagent · 04-10-2008, 06:59 PM

The only carrier that makes life very hard on your is GR - horrible appointment system.

If you want an advance they've so determined that you can't get paid direct. If you NEED a GR advance then your it's Health Choice One with Scott since it's 20% and he'll release you with a 30 day notice.

If you don't need an advance go direct with GR. Then they put you on 15% (why? Dunno) until you write 12 apps....then they grace you with 20%.

Don't go direct and change your mind though - they won't release you.

healthagent · 04-10-2008, 07:00 PM

Quote:

Originally Posted by indmedins

No. I get charged back for the whole year advance. But, I have heard from some people they get a pro-rated chargeback. I thought this was possible.

I'm lost. Who are you through where you get charged back an entire commish advance if the client cancels at month 11?

indmedins · 04-10-2008, 07:01 PM

I am on the west coast. Aetna, Assurant, Avalon, AvMed, UHC (GR), Blue (for group), and Humana are who I am most interested in selling for. Unless you have other sugesstions.

indmedins · 04-10-2008, 07:09 PM

Quote:

Originally Posted by healthagent

What? You only get charged back the portion of unearned advance. So if you take an Assurant advance of $1,200 and the client cancels after 6 months of premiums were remitted you get charged back $600 - not $1,200.

To answer...No. I would get a $1,200 chargback in this instance.

healthagent · 04-10-2008, 07:15 PM

NEVER heard of that - ever. How are you contracted?

indmedins · 04-10-2008, 07:33 PM

I have only been there for three months, but this is what I hear. I have to verify this to be sure before I mis-speak. I have to check my contract (which I don't have a copy of) and will get back to you. However, I am certain the verbal statements I have heard, this is true.

healthagent · 04-10-2008, 07:37 PM

I can assure you there is no system in place through any Assurant channel where you're charged back the entire premium. The only way you're charged back the entire premium is if the deal lapses before the 4 month mark. After that you'll only get charged back for the unearned advance.

100% positive.

indmedins · 04-10-2008, 07:44 PM

Ok, now let me ask you...I know Assurant pays 20-25% commish, but I currently receive only 15% commish which will be increased to 17% tops. Concerning overrides, do you think management is taking my additional 5-10% commish plus overrides or is the additional percentage the override.

healthagent · 04-10-2008, 07:50 PM

You're getting hosed. Your management is from 25% to 33% depending on if they're a GA (25% to 30%) or MGA - however in all fairness MGA need their own admin so they have expenses GA's don't have.

At 25% they're stroking 10% off you so in return you'd better be getting something like free leads. Absolutely you are NOT charged back from Assurant if a deal falls off the books - only the unearned advance.

Do you get paid direct from Assurant or from your agency?