Rate Increases and Med Supp Sales

[jmarkk1]

Ok. Would love to hear from all of you guys on what you would do....

I have FMO that really wants me to sell MA plans, etc., on the supp front we only have Anthem and AARP. I've been told by them to not sell Anthem unless I have to because their commissions are all screwed up. So, if you have a client that wants a plan G....you can't do AARP, and Anthem's G is $122/month.

My FMO is convinced that if a client wants a Plan G, they should go with Anthem and AARP if they want another plan because client should see value in stable rate increases.

So, in their scenario, I sell the more expensive plan...get paid an advance of $125 (regardless of supp) and then month or two later goes by...client gets call from another agent with lower rate plan, etc., and they are to just buy into the fact that it's better to pay more each month because rate increases are more stable.

Keep in mind FMO does provide leads....if client is MA client we have great plans.....if lead wants supp....FMO really stinks...either we sell them a plan that gets replaced by probably one of you guys....or I sell them plan that fits their needs and budget.

 

[senior-advisor-indiana]

You don't have much of a choice if you are depending on someone else for leads. Be prepared for chargebacks if you stick with that FMO.

 

[billyg]

Sounds like a bad deal to me. Why not go Indi (handle your own leads)?

 

[jmarkk1]

I'm planning on going Indy...issue I have is I'll have to wait 6 months to write any MA business I'm guessing and I do like to have MA plans so clients can choose.

Also, I've been working the leads they've been giving me and I have quite a few that are lined up for business in next couple of months. (both for supp and MA plans)

 

[Chazm]

How many MA plans are you contracted through with him?

 

[SportsNut]

So, if you have a client that wants a plan G....you can't do AARP, and Anthem's G is $122/month.

You don't typically get clients who "want a Plan G"... they don't usually know what the heck a Plan G is until it is explained to them, and what the benefits are, and why they should have a Plan G. At least I've never run into one that was targeting Plan G from the start of the convo. Has anyone else...?

 

[jmarkk1]

How many MA plans are you contracted through with him?

Two plans....AARP and Anthem for MA
Two plans for Med Supp....AARP and Anthem
Two plans for PDP.....AARP and Anthem
- - - - - - - - - - - - - - - - - -

You don't typically get clients who "want a Plan G"... they don't usually know what the heck a Plan G is until it is explained to them, and what the benefits are, and why they should have a Plan G. At least I've never run into one that was targeting Plan G from the start of the convo. Has anyone else...?

I've had people that are seriously looking at a plan G and other plans. I've noticed that the people who are searching for information on med supps generally aren't looking to pay the most money with a particular company even if it is AARP or Anthem, etc. Those that are looking for best priced plan are very open to Plan G and Plan N.

 

[Chazm]

Two plans....AARP and Anthem for MA
Two plans for Med Supp....AARP and Anthem
Two plans for PDP.....AARP and Anthem
- - - - - - - - - - - - - - - - - -


I've had people that are seriously looking at a plan G and other plans. I've noticed that the people who are searching for information on med supps generally aren't looking to pay the most money with a particular company even if it is AARP or Anthem, etc. Those that are looking for best priced plan are very open to Plan G and Plan N.

If you're only contracted with 2 MA's and 2 med supps with him it's not too hard of a solution to get out. Contract with ALL of the other companies in the area and after 6 months you're good to go with the other 2 you couldn't write with.

The faster you do this the better.
I waited like 4-5 months after I first thought of it and all it did was delay my residuals 5 months later than I should have been getting them

 

[G.Gordon]

Yea, you are in a LOSE LOSE situation... (the client suffers because you can't present all options, you lose because you can't present all options).

You will NEVER sign such contract again.

Own your business, your efforts, your legacy. READ.

 

[Frank Stastny]

You are in a less than ideal situation. I really don't see you having any kind of future where you are. Neither immediate or long term.

You don't have the companies you need nor are you getting paid fairly for your efforts. I think you are being taken advantage of.

Become independent and learn how to generate your own leads.