Plan Advisors

Helping you choose the right health plan

How To: Request a Release

Selling

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You may be in a situation where you no longer wish to remain with your current FMO or upline agency. This could be for a variety of reasons. If you are looking to relocate to a new FMO or agency, it’s important to be aware that cutting ties is not as simple as merely walking away. To make this change, you must request a release before you can move on to your next endeavor. Ready to initiate the process with your FMO or agency? Here’s what you need to do:

Understand Your Current Contracts

Before requesting a release, it’s essential to understand what you’ve agreed to in your current contracts. Whether with an FMO, upline agency, or carrier, terms will be laid out in your agreement regarding what you need to do to secure a release. Understanding your contracts helps you know what is expected of you and what your carrier, upline agency, or FMO has agreed to cover.

Timing Matters

With carriers, you will find that there is an immediate release request as well as a delayed release option. If you request an immediate release but don’t hear back, it may be in your best interest to fill out a delayed release form. If your current FMO responds after initiating a delayed release, you can submit the release letter, which will supersede the requested delayed transfer.

There are certain times during the year when releases are unavailable to be requested. This is typical during AEP since releases can sometimes be a major interruption to your daily responsibilities. During these blackout periods, carriers often want to focus their resources on helping agents with sales and support rather than onboarding and offboarding agents. Many carriers will allow a hierarchy change once every 12 months. If you have questions about a specific carrier, don’t hesitate to contact our Plan Advisors team at info@myplanadvisors.com. 

Consider the Implications

Whatever your reasons for leaving your current carrier, make sure you’re aware of the aftermath for your business. Whether you’re leaving a carrier or your FMO, you may be receiving resources and support that you don’t fully recognize until it’s gone. So be sure you have everything you need to succeed once you’ve moved on to your next venture. 

If you have other agents you’re partnered with, it’s also important to consider your downline. For example, is the release you’re requesting just for yourself or your entire downline? Make sure you have these types of questions answered before submitting a release.

Submit a Request

When filling out your request for release, check to see if your FMO has a form template that you can use. Many carriers have a carrier-specific release form they require (some won’t accept a release on an FMO letter). If not, you can write your own request and submit it to the proper contact(s). Simply make sure your request is direct and to the point.

Rejection is a Possibility

Be aware that depending on the situation, your request may be denied. This is often due to financial reasons. For instance, if an FMO invests thousands of dollars into an agency to help them market themselves, but ultimately that agency never sells any plans, they may not release that agent. There are options for FMOs to make agreements with other FMOs to recoup costs incurred by an agent, but that is less common.

If you need a release from your current carrier, FMO, or upline agency, contact us with any questions at info@myplanadvisors.com. We are here to walk you through the process and ensure you have everything you need to get approved!

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It can become easy to find yourself in a lull when it is not the annual election period from mid-October to early December. We are here to remind you that Special Needs Plans (SNPs) are here for you year-round!

Further, it becomes important to note that many of your senior clients qualify for a Special Needs Plan. We want you to be ready to enroll them in the best plan.

[Read more…] about Special Needs Plans Are Here For You Year-Round!

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It is time to book a getaway to Las Vegas, Nevada on June 21 – 23, 2022 to experience and gain professional connection at the AHIP Conference!  Since the conference is just over a month away, we motivate you to prepare with all of the need-to-know information.

What To Expect At The Conference

At Plan Advisors, we encourage you to seek out opportunities to connect—in person—with experts and leaders from within and outside of our industry. At the AHIP conference, you will engage with leadership from health insurance provider organizations, both big and small, while diving into focused learning experiences relevant to your organization and the amazing work that you do. Throughout the conference, you are welcome to enjoy a mixture of educational Q&A sessions, meaningful networking breaks, exhibit hall time, and downtime with colleagues from coast-to-coast. As a result, you will learn how AHIP can help you do your job even better!

How Will Making Connections Benefit You? 

Finally, we encourage you to set aside time to experience and gain professional connection at the AHIP 2022 Conference. By doing so, you will discover breakthrough ideas, research, and products in sessions and the exhibit hall. The conference will additionally inspire you to take time from the daily grind and fresh thinking. If you are feeling stuck or in a stand-still professionally, you will find solutions that would take you months to find on your own. Click here to view the list of talented, featured speakers from organizations of all sizes. 

Helpful Links And Resources To Visit

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Every Medicare Sales Specialist dreams of that day when they no longer concern themselves with marketing because they are receiving so many Medicare client referrals.

As you probably know, this dream does not come true overnight. In the meantime, there are practices we can implement to increase our chances of receiving referrals from clients.

In an industry where referred prospects must first reach out to the broker, obtaining referrals can feel like an uphill battle.

We’ve got 6 tips to reduce the challenge of receiving referrals from your Medicare clients.

1. Create (and Deliver) Your Pitch for Medicare Client Referrals

Nearly every Medicare sales appointment will offer a seasoned broker the opportunity to discuss referrals. This typically starts by verbally prepping the client or prospect. Here’s an example:

Broker: Is there anything else I can help you with today, Ms. Smith?

Ms. Smith: Not that I can think of at the moment.

Broker: Do you feel comfortable with the decision you made today?

Ms. Smith: I do. I appreciate your help with everything.

Broker: This is the level of care I show to all my clients. If you have any friends or family that need Medicare advice, please let them know I am here for them. Do you know anyone that will be needing help soon?

This is just one way to help a client think of who they know that may need your services. And this works even if you didn’t get an enrollment. You still helped the prospect decide on the right Medicare choice, and you can still help their friends and family make informed decisions about their Medicare options.

2. Bring Extra Business Cards to Sales Appointments

Yes, this is simple and obvious. But sometimes it is the simple and obvious things we let slip.

Whether you obtain a Medicare enrollment or not after you’ve helped a prospect, leave an extra business card or two that the prospect can share with others. Consider the rest of the conversation in the example above:

Ms. Smith: I can’t think of anyone currently.

Broker: No problem. If anyone comes to mind, feel free to give them my card. Here are a couple of extras for you in case you run into someone who needs help with their Medicare decision.

3. Follow Up with New Clients

Completing 30/60/90-day calls with new clients are not just providing good service, they’re also providing opportunities to receive Medicare client referrals.

A broker doesn’t have to outright ask for referrals after every call. But keeping the idea of referring you in the client’s mind is important. Here are a few easy one-liners:

“If you run into anyone that needs help, please give them one of my cards.”

“Remember I’m just a phone call away, and that goes for your friends and family also.”

“Always a pleasure, Ms. Smith. If there’s anyone I can help, please send them my way.”

4. Follow Up with Older Clients

Clients will refer brokers when they know the broker cares. If you haven’t contacted your Medicare client in over a year, how do they know you care?

Just like following up with new clients, routinely calling older clients shows your concern and allows you to plant the referral seed all over again. Many seasoned brokers contact their clients up to four times per year. Consider implementing this into your activity schedule.

Not sure how to manage contacting all of your clients multiple times per year? Here’s a sample call schedule.

5. Go Above and Beyond in Customer Service for Existing Clients

Beyond simply keeping in touch with your clients, there are other ways you can show you care and provide exceptional service. Here are a few examples:

By going above and beyond enrollments and annual check-in calls you’ll make a lasting impression that will not only help you retain clients but will also encourage them to pass your information along to friends and family.

6. Thank Those who Refer You

Be appreciative of the referrals you receive from clients. A nice handwritten note, a considerate phone call, any gesture to show your gratitude can go a long way with a prospect or client.

Obtaining Medicare client referrals takes discipline and skill. It is a slow growth process. Think of it like a tree. You must first plant the seed.

Then it takes continual watering and nurturing for proper growth. But with enough time and effort, your referral tree will bear fruit. Then you too can save those marketing dollars for other uses.

Looking for more helpful tips for growing your book of business? Learn more about our Medicare marketing support opportunities.