insurance brokerLicensed Brokers Can Help You Find A Medicare Plan
Are you struggling to choose a Medicare plan after comparing different plans from various private insurers? Well, a health insurance broker can help make things easier for you so that you make the right decision when approaching the insurance company.
What Is A Health Insurance Broker?
A health insurance broker is an agency or person working for a company that assists consumers identify and sign up for insurance coverage. Most insurance providers offer or sell their products, but the health insurance brokers will have several insurance policies from different insurance companies, and this gives the customer a wider variety of options and broader freedom of choice.
A number of brokers may sell plans such as group health coverage to companies that provide the option of health insurance to their staff. With Medicare coverage, only licensed brokers are authorized to sell the policies to consumers, not the insurance providers. As such, you need the services of a broker to find suitable coverage (if you are the consumer) and sell the Medicare plans (if you are the provider). Some of the Medicare plans the broker will offer you include the Medicare Supplement, the Medicare Part D Prescription Drug, and the Medicare Advantage plan.
Regarding the licensure, all brokers selling Medicare plans are obligated to be licensed in their respective state. Also, CMS (Centers for Medicare & Medicaid Services) mandates that every broker should undergo strict training and be tested annually to ensure they stay current about the Original Medicare, existing eligibility criteria, and the different plans available. Also, the CMS expects every health insurance broker to have an in-depth knowledge of the Medicare marketing guiding principles.
Different marketplace plans offer different Medicare health plans which offered on the federal exchange, state exchange, or on the Healthcare.gov website. A quality insurance broker can help you find various Medicare health plans such as the Medicare Supplement plan or the Medicare Advantage plan. However, this is not the direct approach, and the benefits of the policy will not pass through the broker or agent but the Medicare plan you enrolled in. If you do not have Medicare covered by your employer, marketplace insurance plans provide the coverage you can buy.
How Can A Broker Help Me LOCATE A Medicare Plan?
The availability of options when choosing Medicare plans is one of the most notable advantages of hiring the services a broker, and this increases the likelihood of finding a policy that accommodates your requirements. You are likely to be given the company’s Medicare plan when you approach a private insurance agency contracted to offer Medicare policies. Finding suitable coverage is possible, but it will require some intensive searching as you jump from one website to the next in search for an affordable plan that fits your needs. You can avoid such hassles while also broadening your range of options if you enlist the services of a broker.
Many of the services offered by brokers are free, meaning you do not have to pay for consulting with a licensed agent about the Medicare plans available, even if you opt not to sign up for any of the options offered to you. More often than not, the broker makes a commission from the private company contracted to offer Medicare policies for every plan the agent manages to have a customer enroll.
However, the insurance broker is expected to work professionally; not pushing or pressuring consumers into buying a Medicare policy; nor should the agent exercise prejudice by endorsing or recommending a particular plan. Instead, the licensed health insurance broker should provide precise information about the various Medicare options that will help a consumer make a knowledgeable choice.
Most Medicare insurance brokers have websites containing informative articles about Medicare plans and online tools that can be used to find and browse various policies. This means you can do your research while at home and even enter your prescriptions to help narrow the search to only Medicare plans that fit your needs. Some of these individual health insurance agents provide call center help for personalized assistance and to answer any questions or inquires concerning Medicare coverage.
The benefits of enlisting the services of a
licensed broker include:
- You get a greater number of options surrounding Medicare policies than you would when dealing with private insurance agencies contracted to offer Medicare plans.
- The service is a single-stop opportunity that offers the comforts of finding the best deals at the most affordable rates or prices.
- The health insurance brokers are experienced in finding health plans tailored to accommodate your wishes.
- You are not charged any fee for the service.
- You get clear, unbiased information about available Medicare plans.
If you have any questions about Medicare we are happy to help! Contact Senior Services today. We are here for you.