FAQ
The carrier release process varies depending on any contract(s) or agreement(s) with your FMO and the specific carriers that you are contracted with.
Overall, the release process is standardized.
There are two types of methods to being released:
Immediate Release - Requires signed paperwork from your upline
Notice of Intent to Transfer (NOI) - If your FMO will not sign your release, you can initiate a self-release which does not require their approval. There is a waiting period for the self release (typically 90 days) so if you are considering this option it is important to act quickly! Please keep in mind that there are carrier "Blackout" periods that may apply. Also, depending on the carrier, there may be internal restrictions on submitting and NOI if you have been contracted for less than 90 days with your current upline,
If you are a new agent or contracting with a new carrier, you will not need to be released.
Yes! This is a common process and many uplines will sign your releases. It is best to coordinate with your new FMO before initiating the release process. Executive FMO can help you determine the appropriate process and paperwork.
If your upline will not sign your releases, you can initiate a Notice of Intent to Transfer (NOI), AKA- self release. This process varies depending on the carrier.
A self-release starts a waiting period that requires no action from your current upline. Once the waiting period passes, you are automatically released. Please keep in mind the carrier "Blackout" periods.
Carrier "blackout" periods are the times of the year that carriers will not process new releases. This varies depending on the carrier. These "Blackouts" typically start in September, but some carriers start as early as July.
Example: If the carrier "Blackout" period beings on July 1, your Notice of Intent to Transfer to a new upline would need to be submitted before 3/31. Your new appoint application would need to initiated and submitted before 7/1.
If you are reviewing FMOs, you should initiate the release and contracting process quickly as you don't want to miss AEP at your new commission levels!
Executive FMO proudly services all 50 states and Washington D.C with top level contracts.
We contract with leading national and regional carriers for:
Medicare Advantage
Medicare Supplement
Prescription Drug
Ancillary (Dental, Vision, Hearing; Heart Attack, Cancer and Stroke; Hospital Indemnity)
Final Expense
Don't see a carrier that you work with listed? Executive FMO routinely updates and adds carrier contracts to our catalog. Contact us for more information.
The CMS final ruling was a sweeping update to industry regulations that were announced in April 2023. Specifically, the ruling is CMS-4021-F which implemented changes to Medicare Advantage marketing and sales communications.
These changes are effective for AEP 2023. There is a lot of misinformation and misunderstanding regarding the scope of these changes and their impact. Review our guide to understanding this ruling here.
The marketing and communications regulations are effective September 30, 2023 for contract year 2024 plans - this means these changes are in effect for AEP 2023!
Other regulations and conditions were made effective June 5, 2023 unless otherwise specified in the ruling.
The FCC proposed changes refers to a series of proposals that are currently in discussion and review stages.
These regulatory changes are targeting lead generation, specifically consumer consent for contact and the 'lead generator loophole.'
It is important to note that these proposed changes were discussed in another (un)related ruling: "Targeting and Eliminating Unlawful Text Messages Report and Order and Further Notice of Proposed Rulemaking" (DA/FCC #: FCC-23-21. Document/RM: 21-402, 02-278).
Executive FMO offers several lead solutions including:
LeadStar - Access exclusive, on-demand warm-transfer leads on your time.
Digital Self-Lead Generation - Our marketing division will work with you and your budget to develop targeted, compliant ads to generate direct leads to you or your agency harnessing networks on Facebook, Google, and Bing.
We also offer innovative solutions and support to field agents utilizing local referral networks and facilities for face-to-face meetings.
Yes! This is a key fundamental to your business operations.
The post sale journey can vary, but the main purpose is to help promote client retention.
Our post sale journeys include:
Customized and automated emails on policy submission, issue and strategic follow-up cadences
Content distribution at key times of the year, also called content "dripping"
User friendly data management and storage
Call cadences specific to your business model
And many more customizable features to help you build your brand
CRM standards for Customer Relationship Management and refers to a database or internal website that is used to track your clients and their information.
Most FMOs offer their clients the use of a CRM but not all are created the same.
Executive FMO offers fully customizable CRMs that are encrypted, HIPAA-compliant and built with custom text messages and email campaigns.
Most FMOs offer the use of a CRM but not all are created equal. We believe that your CRM should include:
HIPAA-compliant and encrypted with legal Business Associate Agreements (BAAs) in place
A post sale journey that is customized to your specific business needs and processes
Customizable automations for text messages and email campaigns that input client, agency and agent information automatically.
Customizable fields and data inputs based on your business needs
Automated reminders and other triggers to manage follow-ups
Encrypted cloud storage to store call recordings and other client data.
Analytics to track client engagement
Tailored website development
Executive FMO is proud to offer all of these features and many more technology solutions.
Depending on the level of technical options and customization, CRMs can be expensive. Many FMOs charge a monthly fee for their CRM or charge an override fee on each application submitted.
Executive FMO does NOT charge for our CRM and technology services. This includes:
HIPAA-compliant encrypted CRM
Unlimited cloud storage (HIPAA-compliant and encrypted)
Custom-built automations for text message and email campaigns using your company branding
Initial website with branding and agency information
MarX stands for the Medicare Advantage Prescription Drug interface that is available from the CMS Enterprise Portal.
MarX provides agents with critical data including:
Beneficiary demographic information (address, MBI, DOB)
Future, current and past plan enrollment history
Low Income Subsidy status and history
Part D prescription drug creditable coverage penalties
Executive FMO provides all clients with access to MarX. There is no fee or charge for this service!
Whether you're selling in-person locally or over the phone, we provide several tools to easily quote and enrollment your clients electronically in a safe, fast and compliant manager.
These tools are available at no cost to our clients.
Tracking and managing your commission payments is no easy task, especially when factoring in delayed payments for AEP and HRAs.
As the transparent FMO, we do not act as the middleman in your commissions.
All of our clients are directly established with the carrier or Third Party Administrator (TPA) for direct payments. We never touch your commissions so you can easily and transparently view your commissions directly from the carrier or TPA portal.
CPA standards for Cost-Per-Acquisition which is an important metric in assessing your agency's overall financial health.
LTV stands for Life-Time-Value which refers to the estimated or projected total value of a policy.
This metric accounts for the estimated payments and renewal rate.
Whether your an independent agent or an agency owner, there are several critical metrics to monitor:
Media Cost
Media Cost-Per-Acquisition (mCPA)
Fixed Cost-Per-Acquisition (fCPA)
Total Cost-Per-Acquisition (tCPA)
EBITDA - Earnings before Interest, Taxes, Depreciation and Amortization
"I knew that I needed to move my agency off of HEAP payments but wasn't sure how. The finance team at Executive FMO helped prepare my agency for acquisition while determining cash flows needed for AEP"