Insurance Agent Forum

[jman1237]

I need some advice on getting out of my contract? They told me when I started that I would be independent but a "career" agent. Which I found out later meant no leads and half or less commissions than everyone else.
I was promised the moon and made it to the light pole. I am barely surviving
Despite having 8 years experience and writing a ton of business last year.

Does anyone think they would release me from my contracts with the medicare advantage plans. Or do they have to release
Me, I don't want to ask if I don't have to, so how do I know if there is not some 6 month waiting period or something?
Call all the companies myself and ask? Won't they pass on to my broker that I am asking these questions. Getting $120 for MAPD's is BS when I see 400 and 500. I know of plenty agents in this area that make 300 with leads. The leads I got were so bad last year that they didn't pay for my gas to get there, while the guy who was a broker got everything across the street.

[Kimber]

Wow! What an awful deal. Each carrier has it's own requirements for non production. Unfortunately, you will have to get info on each one separately. If you want to private message me with the carriers you want to know about, I will let you know on any I have the info for. I am really sorry this is happening to you, there are pleanty of us in the marketing end of things who DON'T treat people like that, but I can really understand why so many agents have a hard time believing that, since so many people don't seem to have respect for those of you who are working so hard in the field.

[Cenla Agent]

Originally Posted by jman1237

I need some advice on getting out of my contract? They told me when I started that I would be independent but a "career" agent. Which I found out later meant no leads and half or less commissions than everyone else.
I was promised the moon and made it to the light pole. I am barely surviving
Despite having 8 years experience and writing a ton of business last year.
I have a negative account (so no renewals) and if I quit it is due and payable within 7 days. Also, I can't touch my clients directly or indirectly for 5 years.
Does anyone think that if I pay off my account they would release me from my contracts with the medicare advantage plans. Or do they have to release
Me, I don't want to ask if I don't have to, so how do I know if there is not some 6 month waiting period or something?
Call all the companies myself and ask? Won't they pass on to my broker that I am asking these questions. Getting $120 for MAPD's is BS when I see 400 and 500. I know of plenty agents in this area that make 300 with leads. The leads I got were so bad last year that they didn't pay for my gas to get there, while the guy who was a broker got everything across the street.

Who is this with? Parker?

[honestagent]

I would not be surprised; but if it's not, hey could you post the fmo so we can abstain. tx.

[IFS_Edge]

I was about to sign with Parker, but I had spoke with another agency like two days before and Long Story Short, they told me I COULD NOT have two FMOs.

So, I called the woman who sent out the recruitment letter directly. And I asked her, "Before I sign on with you guys..."

And I asked her if I could have more than one FMO/IMO. She said no. I said, "ReallY?? Because I called the Texas Department of Insurance and they told me if I could find 100 different FMOs selling 100 different products, I could sign up with all of them."

And she started correcting herself immediately. She said, "Well, it's not a LAW -- it is the preference of most FMOs." She then told me I would not get any contracts that were worth having if I was not getting all my contracts for MAs from one FMO.

Well, I have to say, don't ever tell me that I cannot do or get something. I immediately deleted all the emails, never turned in any contracts with them, and contacted four IMO/FMOs directly (only one that I found on this website). And told them I did not want to work with anyone who was going to manipulate me, that is why I am an independent agent. So in all, I spoke to five FMO/IMOs.
I got their "top dollar" offer on all the MAs I wanted to sell and then contacted the two I liked the best and told them I would be paying for my own leads, that my family's needs would always come first and that I would have five contracts with each company.

I got top dollar, two FMOs and an incredibly strong sales team because I am able to provide them higher rates because of the rates I was able to negotiate.

I am not manipulative, I am completely straight-forward with them and what I am doing. It seriously is about how much you think your time is worth. I got screwed last year being captive with one company. I did learn a lot and it was probably the best way yo have my virgin year in the MA industry, but I now know how hard I will work and what I expect in return.

But, I agree with HonestAgent, Parker would not be a surprise to me either. They were offering me about $250-300 a contract.
Only thing they had going for them I have not been able to get is they have a Humana contract. It is my understanding that Humana is decreasing their field force by one third so it will be difficult to get a contract with them this year. Let me know if anyone knows who to contact and/or if I should even try to contact anyone with Humana.
Thanks guys!
~IF

[Cenla Agent]

Originally Posted by IFS_Edge

I was about to sign with Parker, but I had spoke with another agency like two days before and Long Story Short, they told me I COULD NOT have two FMOs.

So, I called the woman who sent out the recruitment letter directly. And I asked her, "Before I sign on with you guys..."

And I asked her if I could have more than one FMO/IMO. She said no. I said, "ReallY?? Because I called the Texas Department of Insurance and they told me if I could find 100 different FMOs selling 100 different products, I could sign up with all of them."

And she started correcting herself immediately. She said, "Well, it's not a LAW -- it is the preference of most FMOs." She then told me I would not get any contracts that were worth having if I was not getting all my contracts for MAs from one FMO.

Well, I have to say, don't ever tell me that I cannot do or get something. I immediately deleted all the emails, never turned in any contracts with them, and contacted four IMO/FMOs directly (only one that I found on this website). And told them I did not want to work with anyone who was going to manipulate me, that is why I am an independent agent. So in all, I spoke to five FMO/IMOs.
I got their "top dollar" offer on all the MAs I wanted to sell and then contacted the two I liked the best and told them I would be paying for my own leads, that my family's needs would always come first and that I would have five contracts with each company.

I got top dollar, two FMOs and an incredibly strong sales team because I am able to provide them higher rates because of the rates I was able to negotiate.

I am not manipulative, I am completely straight-forward with them and what I am doing. It seriously is about how much you think your time is worth. I got screwed last year being captive with one company. I did learn a lot and it was probably the best way yo have my virgin year in the MA industry, but I now know how hard I will work and what I expect in return.

But, I agree with HonestAgent, Parker would not be a surprise to me either. They were offering me about $250-300 a contract.
Only thing they had going for them I have not been able to get is they have a Humana contract. It is my understanding that Humana is decreasing their field force by one third so it will be difficult to get a contract with them this year. Let me know if anyone knows who to contact and/or if I should even try to contact anyone with Humana.
Thanks guys!
~IF

Advocate Health is a much better way to go with Humana, but they are exclusive (unless it's changing for 08) meaning you can't write any other MA. My understanding is that they are basically Humana's preferred delegated partner, but I suppose it may vary depending on what area you're in. What you were offered by Parker is probably double what they normally offer, from what I've heard. My understanding is that Humana would like their delegated agents to be exclusive, which makes sense since it is senseless to give company leads to someone who is contracted with other carriers. Other than Parker, I don't know of anyone else that has Humana contracts.

You referring to Humana reducing their delegated field force or captive? They are hiring captives in many areas. It wouldn't surprise me if they are looking to tighten it up a bit with their delegated agents.

[IFS_Edge]

LOL. RIGHT after, I mean, RIGHT after I posted that post, I checked my mail and I have a postcard from Humana trying to recruit me to be a delegated agent with car allowance, etc., so maybe that was an agent (He used to be a Top Dog with Humana, now he is a state trainer with CIP) that was trying to steer me from Humana because he wanted me and my agents to only work CIP.
So, I am glad that I said, "it is my understanding". Thanks for the info CE. I do not know your actual name, but I may just call you "Guru".

[jman1237]

Humana did have almost complete control over what we did last year until the end do March and we got Coventry and Unicare. They put some agents in Wal-marts (not me) and most of them did real well. I was running all over the state chasing their company telemarketed leads that were much better the first year when part D came out, Humana looked like a genius with their $1.87 drug plan and you could get PFFS in almost as easily. Seniors knew they had to do something. But for 2008 their plan doesn't look as good the $20 premium (midwest) plan looks marketable. But Unicare $29 security Enhanced plan with a separate PDP makes it look like a joke.

[Cenla Agent]

Originally Posted by jman1237

Humana did have almost complete control over what we did last year until the end do March and we got Coventry and Unicare. They put some agents in Wal-marts (not me) and most of them did real well. I was running all over the state chasing their company telemarketed leads that were much better the first year when part D came out, Humana looked like a genius with their $1.87 drug plan and you could get PFFS in almost as easily. Seniors knew they had to do something. But for 2008 their plan doesn't look as good the $20 premium (midwest) plan looks marketable. But Unicare $29 security Enhanced plan with a separate PDP makes it look like a joke.

The plans I was selling in Central Louisiana for Humana were way higher than that from the start, about 4x.

[Cenla Agent]

Originally Posted by IFS_Edge

LOL. RIGHT after, I mean, RIGHT after I posted that post, I checked my mail and I have a postcard from Humana trying to recruit me to be a delegated agent with car allowance, etc., so maybe that was an agent (He used to be a Top Dog with Humana, now he is a state trainer with CIP) that was trying to steer me from Humana because he wanted me and my agents to only work CIP.
So, I am glad that I said, "it is my understanding". Thanks for the info CE. I do not know your actual name, but I may just call you "Guru".

You sure it's delegated and not captive? If so than I guess I am getting screwed. I've never heard of any company that pays with a 1099 in any industry give a car allowance since you are considered self employed.

What is CIP?

[policy doctor]

CIP is Care Improvement Plan which is a SNP (special needs).

Is a delegated agent same term as Meca-broker for Humana?

Anyway, another FMO that has Humana contracts is senior mkt sales.

[jman1237]

NIBI

[MIBizInsurance]

"Is a delegated agent same term as Meca-broker for Humana?"

My Wife just went through an interview with Humana here in MI.

There are 2 agent types she was offered and this is how it was described to her-

Career/employee- Salary (23 or 24k) Car and cell phone allowance. Standards to meet.

MECA- 1099. No set standards to meet. No Salary, car, phone allowance. Can only sell Humana MA PDP and Sup plans. Can sell any other company and product as long as its not one of the 3 listed.

If they are offering a car allowance I would take it that its as a employee and not the MECA. I've been wrong before thoe.

[IFS_Edge]

Stink. I threw away the postcard.