The Medicare Agent Blog

How to Know You’re Joining an Outstanding Medicare FMO

As a new independent agent coming into the game, you may not know what you’ll need in this vast world we call Medicare. Obviously, you want to become the best agent you possibly can be. You may have even heard that you can get the guidance you’ll need through a Medicare FMO. However, do you really know what to look for? Fortunately for you, we’re here to let you know!

What is a Medicare FMO?

A Medicare field marketing organization (or, Medicare FMO) is a valuable partnership for agents like yourself. You will be able to work with a team that has the experience and the knowledge in everything Medicare. You will be offered support, marketing, products, and even contracts to make your life and career much easier. Think of a Medicare FMO as the middleman between you and an insurance carrier, and the assistant between you and your clients.

Why work with an FMO?

Well, most well known and competitive insurance carriers may actually require you to work through an FMO to be able to receive their products. In general, a Medicare FMO also offers agents contracts that they may have never been able to obtain on their own. This is because successful FMOs have a wide array of relationships that they have established with carriers over the years. Typically, agents who work with these organizations enjoy a higher commission as well and this is due to the useful resources that FMOs provide. If you’re lucky, some will even offer you full, vested commissions on your sales.

What should I look for when considering a Medicare FMO?

It’s not so rare that a Medicare FMO will say that they are a top of the line company. (All FMOs usually will.) However, what’s important to know is if they truly live up to what they claim. A few signs that can let you know if a Medicare FMO is really looking out for you are:

  • Medicare-based marketing that focuses on branding your business, not theirs
  • Quoting engines and/or tools that allow you to quote Medicare with ease
  • Real sales training that can truly improve your ability and work experience
  • A frequently updated website full of useful content
  • Great customer service

A Medicare FMO that has outstanding customer service with agents will:

  • Always be available
  • Help you with casework, such as filing claims
  • Develop business plans
  • Process applications
  • Develop a community
What should I be aware of?

Once you think you have found a Medicare FMO that may be the right fit for you, you should be aware of these essential aspects:

1) Release policies

FMOs can offer agents an open release policy, meaning you can stop working with the company at any time and still keep hold of your book of business. On the other hand, some FMOs may have a limited release policy in which leaving the company may not be so easy.

2) Specialty

As an insurance agent who sells Medicare, you, of course, would want to work with an FMO that specializes in Medicare. Many FMOs offer different types of insurance so it’s important to know what they specialize in so you can consider if the FMO is suitable for your business.

3) Uniqueness

What makes this FMO different? Why pick this one?

4) Structure of Commission

How and how often will you get paid?

5) Age of the FMO

How long a Medicare FMO has been in business can actually tell you a lot about the company. The longer that they have been up and running can reflect how much experience they have. A Medicare FMO that has been in the insurance business for a long time typically have better resources and a lot more carriers.

Trusted American Insurance Agency has helped more than 6,000 agents find success in the Medicare marketplace. We offer Medicare expertise, personalized marketing, 1-on-1 business plan coaching, top-level commissions, and so much more. Plus we don’t require a release policy! Don’t even hesitate… Join the team today!

Trusted American Insurance Agency is a National Marketing Organization (NMO) headquartered in Roseville, CA. Trusted American provides a full range of insurance and financial services products across all 50 states for all major and niche carriers, with a specialty in the Senior Marketplace.

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