Medicare Advantage Broker Referral Programs

michellea · 07-13-2007, 02:32 PM

Hi there! I have been on here for just a little bit. I am new to the business and got started in the MA plans. A friend of mine was doing a broker referral program getting paid so much money for each appointment she set and that was closed. It was a great opportunity for me as a mother to two sets of twins to work at home and make money. Once I got into the business I realized that it was not the "easy money" I thought it would be, but I love it. Since I started my fiance has gotten his license and he works the field closing the appointments that I set, which works wonderfully, because I am better on the phones and he is better in front of the customer. We will eventually branch off into other forms of insurance dealing but for right now while we learn the business and figure everything out we are happy doing what we are doing.

I say all of this because if anyone knows of any other MA companies that offer a broker referral program please let me know. If their are any, I am willing to research the area and market and other plans and get my non-resident license so that I could set appointments for an agent to work.

When I set appointments I make sure of what the person is currently on (or try my best to figure out - sometimes they are unsure), I make sure their doctor is covered, and right now I make sure they are dual eligible, I set a time and give them the name of the agent that will be helping them. When working my area, I give them my phone number that way if they have any questions they can call me at any time and I will help them as well.

tommyk · 07-13-2007, 05:01 PM

Are you currenlty briokering MA plans? Are these the PFFS plans or PPO?

senior-advisor-indiana · 07-13-2007, 05:38 PM

Hook me up with some appointments.

michellea · 07-13-2007, 05:45 PM

Originally Posted by tommyk

Are you currenlty briokering MA plans? Are these the PFFS plans or PPO?

Yes that is what I do now. I am brokering for 2 companies right now. They are the only 2 plans in my area (lower Alabama). They are both HMO plans. I have not done anything with PPO or PFFS plans.

Slick · 07-13-2007, 05:48 PM

Are you soliciting as a appointment setter?
Cause we'ver already decided that most of us are lazy and would really enjoy someone else doing all the cold calling.

michellea · 07-13-2007, 05:52 PM

Originally Posted by Slick

PFFS plans don't have a list. All services are approved on a case by case basis. The burden is passed to the beneficiary. Most lists that you see are not a guarantee of a doctor or hospital that accepts the PFFS, instead it is a list of doctors and hospitals that have done business with that insurance company in the past.

Yea PFFS are not even available in my area so I have never really looked into them but everything I have seen so far with those plans they do not seem to be all they are supposed to be. I am still very new to all of this, so I may be totally wrong. So all I have "experience" in thus far are the HMO MA Plans!

michellea · 07-13-2007, 05:56 PM

Originally Posted by Slick

Are you soliciting as a appointment setter?
Cause we'ver already decided that most of us are lazy and would really enjoy someone else doing all the cold calling.

Basically yes, but I am interested only if the MA Plan company has a broker referral program. Currently I get paid $100 with one company and $250 with the other company for each appointment that closes. I do not get paid hourly.

Say you are an agent with ________ MA Plan, whether you are captive or not, and that company offered a broker referral program, I would sign a contract with that company and would get paid by the company but would give all appointments to you. That is what I do now.

Slick · 07-13-2007, 06:05 PM

So what companies are you setting for?
I'll look at their product.

michellea · 07-13-2007, 06:16 PM

Originally Posted by Slick

So what companies are you setting for?
I'll look at their product.

The program that would be possibly in someone else's area is Secure Horizon the other company only caters to Alabama, Tennessee (which they have lost 4 counties) and a few counties in Mississippi. I know Secure Horizons is located around the country.

salpro22 · 07-13-2007, 06:24 PM

Originally Posted by michellea

Basically yes, but I am interested only if the MA Plan company has a broker referral program. Currently I get paid $100 with one company and $250 with the other company for each appointment that closes. I do not get paid hourly.

Say you are an agent with ________ MA Plan, whether you are captive or not, and that company offered a broker referral program, I would sign a contract with that company and would get paid by the company but would give all appointments to you. That is what I do now.

Interesting way of conducting business. What's the average AV and commission on MA plans??

michellea · 07-13-2007, 06:40 PM

Originally Posted by salpro22

Interesting way of conducting business. What's the average AV and commission on MA plans??

Sorry not sure what "AV" means, but on my end with one company I get paid $100 per lead that is closed and $250 with the other company. On the agent side, my fiance gets paid on a tier system with the pay being $250 for the first 15 for the month, they all turn to $300 when he hits 16 and then they all turn to $400 when he hits 31 for the month. The other company he gets paid a straight $420 for each that closes.

Frank Stastny · 07-13-2007, 06:52 PM

I haven't heard of any of the PFFS plans doing that, only HMO's.

Slick, I'm not sure there are any available around here. I checked a while back and wasn't successful in getting any information. My brother-in-law does that in Florida and claims he is very successful. But then, he is an insurance agent you know. LOL

Salpro, there is no AV. Commissions vary all over the board. $150 to $350 and higher. Just depends. Success is only measured by how many apps you write, not on AV.

There is no renewal or very little and for the most part it is just a one shot deal and it's done.

A good portion of it is, ready for this, Zero Premium! The few agents I know who do this seem to have the best luck in the poor areas of the city where people only have Medicare and nothing else. I understand that most of them don't even know that there is something else available for them like the HMO.

Michellea, has this been your experience or are you working more of a middle class prospect?

It brings in money but doesn't "build a book of business". However, these people are good prospects for final expense also.

Michellea, is your fiance is also going after final expense insurance while he is there.

salpro22 · 07-13-2007, 06:53 PM

Originally Posted by michellea

Sorry not sure what "AV" means, but on my end with one company I get paid $100 per lead that is closed and $250 with the other company. On the agent side, my fiance gets paid on a tier system with the pay being $250 for the first 15 for the month, they all turn to $300 when he hits 16 and then they all turn to $400 when he hits 31 for the month. The other company he gets paid a straight $420 for each that closes.

AV = Annualized Volume

It sounds like you have a nice tag-team approach to conducting business. Are those commissions competitive with what he could get outside of those two companies?

Frank Stastny · 07-13-2007, 07:19 PM

Originally Posted by michellea

Sorry not sure what "AV" means, but on my end with one company I get paid $100 per lead that is closed and $250 with the other company. On the agent side, my fiance gets paid on a tier system with the pay being $250 for the first 15 for the month, they all turn to $300 when he hits 16 and then they all turn to $400 when he hits 31 for the month. The other company he gets paid a straight $420 for each that closes.

It sounds like a "marriage made in insurance". It's kind of like, "you can't have one without the other". LOL He is doing very well with his commissions.

I wish I could get into a program like that around here. Good luck to both of you.

salpro22 · 07-13-2007, 11:21 PM

Salpro, there is no AV. Commissions vary all over the board. $150 to $350 and higher. Just depends. Success is only measured by how many apps you write, not on AV.

Thanks for the clarification Frank.

I disagree with you about success being measured predominately by the number of apps you write vs. AV. I think it is a combination of the two and then some including the "quality" of business. AV is VERY important to me because it determines how much I'm paid. If and when I sell companies who pay a flat fee then the AV won't matter as much except for inner pride of reaching specific goals.

senior-advisor-indiana · 07-13-2007, 11:29 PM

Originally Posted by salpro22

Thanks for the clarification Frank.

I disagree with you about success being measured predominately by the number of apps you write vs. AV. I think it is a combination of the two and then some including the "quality" of business. AV is VERY important to me because it determines how much I'm paid. If and when I sell companies who pay a flat fee then the AV won't matter as much except for inner pride of reaching specific goals.

There is usually no premium for these plans, that is why you cannot measure your success on AV. The companies pay a flat fee per enrollee. For instance my pyramid contract pays me $330 first yr and $110 for renewals no matter what the premium is The premium is not adjusted by age either. Everyone in the same county pays the same price for the same plan.

Slick · 07-14-2007, 12:22 AM

Hey Frank, whenever somebody says that got horses that can run, I'll stand by and yell "giddyup", but that don't necessarily mean I'll be sitting in the saddle.

Michellea,
Sounds like you two have a nice deal going on.
The PFFS 1 and 2 don't look too bad, but I don't think I would chose to write more than 1 or 2 per month.

But if you get tired of dialing for HMO's, hang a sign to set supplement appointments and we'll find you plenty to do.

Slick · 07-14-2007, 12:28 AM

One more thing...
Are United Healthcare and United Health Group the same thing?
Because United Health Group is part of the voluntary freeze, but Secure Horizons refers to United Healthcare.

michellea · 07-14-2007, 12:31 AM

Originally Posted by Frank Stastny

There is no renewal or very little and for the most part it is just a one shot deal and it's done.

A good portion of it is, ready for this, Zero Premium! The few agents I know who do this seem to have the best luck in the poor areas of the city where people only have Medicare and nothing else. I understand that most of them don't even know that there is something else available for them like the HMO.

Michellea, has this been your experience or are you working more of a middle class prospect?

It brings in money but doesn't "build a book of business". However, these people are good prospects for final expense also.

Michellea, is your fiance is also going after final expense insurance while he is there.

You are totally correct Frank. Most of my clients are low income individuals. For the most part many of them do not understand anything. I can't tell you how many times I talk to people and they tell my someone came out from some company and did something and they have NO IDEA WHAT THEY SIGNED UP FOR. It is really sad some of the stories I run across. I do run across many people who are very low income but yet they are still paying their monthly premiums for BCBS when they are dual eligible and qualify for medicaid to pay their Part B premiums and for them to enroll in a MA Plan, but they are too scared to do so.

The area I am in has been hit very hard before I got into the business. Everyone that I deal with knows that there is additional help and almost everyone is signed up on a MA Plan, but it is sad how many individuals do not realize they are on something else. I am successful in getting clients by being honest with them and I take the time to explain to them how everything works. I break it down for them to where they can understand it and I may have to say it 12 times. My fiance and I take pride in that we are not the type of people who just switch over anyone for no reason and we are still able to close enough to pay our bills.

And YES YOU ARE SO RIGHT in that this does not offer good renewal rates. That is one of the reasons I am thankful I found this site. Yes we got into this thinking it would be a great way to make quick money, but we learned different, are really interested in the business and we want to make this our career so for right now, yes the MA Plans are paying the bills, but we are seeking out experience, and are greatful for the opportunity that we have by "getting our foot in the door" so that we may branch out and actually have a career to retire from one day.

And No he is not going after final expense at this time. I had never heard about final expense until I found this site. So if you have any suggestions on that end, feel free to fill us in!!!

THANKS FOR EVERYTHING!!!!

michellea · 07-14-2007, 12:34 AM

Originally Posted by Frank Stastny

It sounds like a "marriage made in insurance". It's kind of like, "you can't have one without the other". LOL He is doing very well with his commissions.

I wish I could get into a program like that around here. Good luck to both of you.

Thanks so much! It works for us. I am much better on the phone and he is much better in front of the client. He has that skill of keeping them from getting sidetracked without being rude, whereas I end up on the phone with some people for over an hour and can't get off the phone with them no matter what! But that is ok, the ones that keep me on the phone that long are usually lonely and very old and I hear very interesting, wonderful stories about the "good ole days", haha.