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Medicare Advantage FMO

Here at Crowe and Associates, we like to consider ourselves humble. However, as one of the premier field marketing organizations (FMOs) in Connecticut, we do have strong opinions about what makes a Medicare Advantage FMO successful and, especially, what agents should look for when joining one. The right FMO can help you create success, and the wrong one can hinder your career. Take it from us: here are five things you should consider when joining an FMO.

Their product expertise

Different FMOs will have different areas of expertise, like Medicare Advantage, annuities, term and whole life insurance policies, and even more niche specialties like dental or disability. If the FMO you’re considering doesn’t have deep knowledge about your area of focus, it’s probably not a good fit.

Medicare Advantage FMO Relationships with carriers

Length of relationship matters, as does depth of relationship, when you’re talking about the relationships between a Medicare Advantage FMO and the insurance carriers. The quality of the connection matters because those strong connections can help you with sales connections, strategic partnerships, and business opportunities that you may not otherwise have access to.

How they support agents

Is the FMO timely in managing and facilitating support requests? Do you like their customer service policies? Are they prompt, respectful, and efficient? All of these traits matter, especially when you join an FMO and connect your agency to their organization.

Technology use and access

The insurance industry is undergoing a digital renaissance, with technology playing an ever-growing role in every aspect of the enrollment process. Medicare Advantage FMO s should have tech platforms and apps that make your life as an agent easier, whether that is by streamlining service or cataloging data in one place. Do they have an easily accessible comparison tool customized to their organization, and do they provide in-house tech support for their agents? These are just some of the questions you should consider asking before joining an FMO.

Compliance, compliance, compliance – Medicare Advantage FMO

CMS delivers new compliance regulations every year, and everyone in the industry needs to adapt to them quickly and efficiently. It is vital that the FMO you choose as an agent meets those compliance codes without any gaps, providing legal and ethical service for their clients.

Choosing whether or not to join an FMO can be a hard decision for an agent – particularly if they have found success on their own. The right FMO, however, that can fulfill all five of the above requirements, can provide essential support and guidance for growing an agent’s career in exponential ways.

Licensed Medicare Agents

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Medicare AHIP Training

The AHIP Exam, or America’s Health Insurance Plan Exam, is the most widely-recognized Medicare training certification in the health insurance industry. Over 100,000 brokers and agents take this exam every year. The exam covers Medicare, details of how the industry works, and the Fraud, Waste, and Abuse training. Together, all of this information is referred to as MFWA Training.

The Medicare side of this exam will cover the following:

• Basics of Medicare

• Eligibility and coverage

• Anti-discrimination training

• Marketing and enrollment strategies

The Fraud, Waste, and Abuse side, on the other hand, will include:

• Identifying fraud, waste, and abuse

• Some of the industry efforts to detect fraud

• How legal tools can combat fraud, waste, and abuse

• The human and financial costs of fraud, waste, and abuse

• Compliance requirements for brokers and agents

• How to report fraud, waste, and abuse

• Loopholes and obligations

The AHIP exam itself consists of 50 questions, all of which are taken randomly from the five different portions of the training in order to cover all the topics. Each participant has three chances to score a 90% or higher. While agents have reported that they can get through the exam in an hour or less, the time limit for taking the final exam is two hours per attempt.

Here are some tips for taking the AHIP exam successfully:

1. Use Google Chrome as the browser.

Since this is an online exam, some agents have reported errors with submission when they used different browsers. To be on the safe side, Google Chrome is typically a good bet.

2. Study the review questions.

It is not unusual for the final exam to include between 30 and 40 questions taken directly from the exam study guides. Module quizzes are helpful for practicing and readily available online.

3. Be able to apply the knowledge from the training.

It is not enough to memorize facts for this exam. The test will ask participants to apply that knowledge to real-life situations, like examples of which plan would be best suited for a fictional beneficiary.

4. Set a sustainable pace.

With 50 questions and two hours to complete the test, the participants should allot about two minutes per question on the exam in order to finish in a reasonable timeframe.

Taking time to study, practice, and apply the knowledge learned in the training modules will set agents up for success when they become some of the 100,000 who take the AHIP Exam each year.

Click here to take AHIP at a discounted rate. 

Medicare Marketing

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Medicare Seminars in Connecticut

Crowe and Associates is offering Medicare Seminars in Connecticut.  We are an independent agency contracted with all Medicare companies in the state of Connecticut.  We conduct seminars to educate consumers on Medicare Advantage plans (also called Part C or Managed Medicare), stand alone part D RX plans and Medicare supplement plans (Also called Medigap plans).  Meetings run about 1 hour with the primary goal focusing on four main areas:

1)Explain how Original Medicare works as well as coverage provided by Medicare A and B.  It’s important to understand how Medicare benefits work so that you can make the most informed, best decision for you and your family members.

2)Detailing the difference between a Medicare Advantage and a Medicare Supplement plan.  They are distinctly different plans. Understanding the difference between them allows the Medicare beneficiary to make a more educated decision.

3)Explaining the strengths and weakness of both Advantage and Supplement plans.   How a Medicare beneficiary should use their own situation to determine which is better for them. (There is not a “best plan” or “best option”.)  Personal health/medical needs will be the biggest determination when it comes to finding the right plan.

4)Once the right type of plan has been determined (Medicare Advantage vs. Medicare Supplement) we will then provide a review of the company offerings for 2016.  It’s important to learn the differences between the companies that offer Medicare plans.  Understanding the details between companies and plans is vital to having proper coverage.

The primary goal:

will be for attendees to leave the meeting with the confidence to pick a plan that suits them best.  If interested in attending a meeting, please call our office at 203-796-5403 or email admin@croweandassociates.com.

Crowe and Associates is a full service brokerage offering clients not only Medicare, but regular health, dental and life insurance.  We also offer property and casualty insurance as well as investment advice.  We do not charge any fees.  If you have questions or need additional information, please give us a call at 203-796-5403.