Field Marketing Organizations- Medigap and Medicare Supplement Companies
In the attached spreadsheet are examples of field marketing organizations (FMOs) or insurance marketing organizations (IMOs) serving the carriers listed in rows 2 – 22. Unfortunately, details regarding the commission rates these FMOs or IMOs charge, as well as the states they serve, are unavailable in public. These FMOs include Gordon Marketing, Senior Benefit Services Inc., National Contracting Center, and TR King Insurance Marketing.
- Aetna uses Gordon Marketing as its FMO, which offers Medicare-advantage commission rates from $510 — $636, and enrollments and renewals commission rates from $255 — $318.
- Transamerica runs an internal marketing and distribution division dubbed, Transamerica Brokerage, which supports independent marketing organizations (IMOs). More details regarding this unit are unavailable as a sign-up is required to access information on Transamerica Brokerage.
- Aetna, Cigna, Combined Insurance Company, Mutual of Omaha, Transamerica, and United American are examples of carriers using the services of Senior Benefit Services Inc., a field marketing organization (FMO).
- National Contracting Center, a field marketing organization, serves several insurance carriers, including Aetna, Cigna Medicare, Combined Insurance Company, United American Medicare, and UnitedHealthcare.
- Gordon Marketing, which services Aetna provides its agents with Medicare-advantage commission starting from $510 — $636, while enrollments and renewals rates vary from $255 — $318.
- TR King Insurance Marketing, an FMO, serves Aetna, Combined Insurance Company, Mutual of Omaha, Transamerica, and UnitedHealthcare.
Extensive searches through the websites of the ten Medicare providers in the attached spreadsheet uncovered little information regarding the FMOs and IMOs they work with. It turned out that none of the carriers listed their FMOs or IMOs on their websites; therefore, your research team had to search for FMOs or IMOs in the U.S. to discover the carriers they work with. Thus, to fill up the spreadsheet, we searched for FMOs and IMOs in the U.S., then checked which carriers they serve. Through this approach, we identified four examples of FMOs, namely Gordon Marketing, Senior Benefit Services Inc., National Contracting Center, and TR King Insurance Marketing, along with the carriers they serve.
Despite deep searches through numerous industry databases, FMOs & IMOs reports, Medicare reports, as well as the annual reports of the ten carriers listed in the spreadsheet, we did not find FMO or IMO details for AARP Medicare, United Healthcare Insurance, USAA Medicare, and State Farm. Thorough searches through their websites, including x-ray searches specific to the terms "FMO or IMO" did not return any positive results. On the other hand, AARP and United Healthcare claims that UnitedHealthProducers.com supports their Field Marketing Organization (FMO) and downline agents. Unfortunately, UnitedHealthProducers.com requires one to sign up to access the information on the site, but an x-ray search of the website did not show any mention of FMO or IMO.
We found little information on the average commission rates FMOs and IMOs take from their agents. According to research, the payments are dependent on several factors, including serving many carriers, different contract terms, etc., which would likely make the rates vary. On that note, we entered N/A/ into the cells where the required data is unavailable. Unluckily, none of the FMOs identified announce their annual revenues; hence, we used estimates provided by third-party business intelligence vendors like Rocket Reach. Overall, there is little information regarding the FMOs and IMOs serving the top-rated Medigap/supplement companies listed in the attached spreadsheet.