Choosing a Medicare FMO

What is an FMO?

FMO is an acronym for Field Marketing Organization which is a company approved to distribute health insurance plans on behalf of various insurance companies.  An FMO will help you get appointed to sell with multiple insurance companies.

Once contracted with a wholesaler (FMO), these are the products you will be approved to sell:

  1. Medicare Advantage
  2. Prescription Drug Plans
  3. Medicare Supplements.
  4. Final Expense Insurance
  5. Hospital Indemnity Insurance

When you get your health license, simply sticking a “I sell Medicare Insurance” sign on your office window won’t get you off to a fast start.

You must become “appointed” with various insurance carriers to be able to sell their products, negotiate commission agreements, and get the marketing support from an experienced team to help you maximize your results.

Below are some questions I always suggest you ask before committing to any FMO:

  • What kind of Medicare sales training do you provide (e.g. face-to-face, online, ride-alongs, etc.)?
  • What carriers are you appointed with?
  • Will I be paid directly from the insurance company or will my commissions be assigned to the FMO?
  • Do you provide E&O insurance?
  • How can you help me with Medicare leads and getting in front of interested prospects?

If you’re looking to build an agency with a team of medicare agents, we highly suggest the team over at Medicare FMO.