While shopping around for health insurance, you’ve probably heard the term Medicare broker or Medicare agent. MedicareFAQ’s team of independent Medicare insurance brokers can give you quality customer care during consultations.
Medicare Brokers and Medicare Agents
Independent Medicare insurance brokers provide unbiased opinions about health insurance plan options. Using a Medicare broker to consult about healthcare plan options is a completely free service. Clients pay nothing to call a Medicare agent and inquire about coverage options.
Most individuals expect to pay a fee for the broker’s services. Either up-front or in the form of a higher monthly premium.
But the fact is, working with a broker usually costs less than working with an insurance company directly. There are two reasons for this.
- A broker doesn’t cost you anything. There are no up-front fees, and your premium will be the same as if you had bought the same policy from the insurance company directly.
- A broker can save you money on your monthly premiums.
An independent broker can quickly get quotes from many insurance companies. Thus, helping you get a better price than you might be able to find on your own.
Agents Employed by Insurance Companies
Unlike agents receiving employment through one insurance company, Medicare insurance brokers aren’t on an insurance company’s payroll. They don’t get insurance company bonuses for meeting sales targets or selling the most expensive policies.
That means that a Medicare broker can focus on helping you get the policy that works best – no matter which insurance company provides you the coverage.
Benefits of Working with Medicare Supplement Brokers
Medicare is full of jargon, similar-sounding plans, deadlines, and hidden costs. If you’ve never dealt with it before, you have a steep learning curve ahead of you.
A Medicare broker can quickly and efficiently search dozens of plans from different insurers, saving you time. Many enrollees don’t realize that although Medigap plans are standardized, different insurance companies charge different premiums for the same policy. A broker can find the best rates more easily.
Medigap insurance brokers can help you decide which level of coverage is best for you, based on your needs and your budget.
Medicare Supplement brokers do this every day. This means a broker can spot issues and can give you advice based on experience. When you contact a reputable broker for a quote, you’ll never be pressured to buy, and your quote comes without any obligation.
Each Medigap plan sets its own premium pricing. This means, one Medigap insurance company can charge a higher premium rate than another. Medical underwriting allows insurance companies to determine premium costs, according to the client’s health condition.
Medigap insurance brokers work with many different insurance carriers. Giving them the proper tools to determine whether a client can pass medical underwriting for a certain insurance company.
Choosing a Medicare Broker
Thousands of Medicare beneficiaries complain every year about the overwhelming amount of information, pure frustration of not understanding their Medicare handbook. Medicare insurance agents offer an easy-to-understand and simple education about how Medicare works.
Medicare insurance brokers can help solve these issues. By providing information in a more digestible way; breaking down the confusing parts and answering your questions. Our team of Medicare insurance agents provides excellent care, priding themselves on your satisfaction.
Mostly, using a reputable broker for quotes and plan suggestions is vital. Many insurance companies offer their agents bonuses when they meet certain sales goals.
Therefore, agents are more likely to sell more expensive policies, even if the consumer doesn’t need it. Due to this, Medicare agents have a reputation of being all in the same, but that’s not at all true.
If a policy is the right policy for you, our team of Medicare insurance agents will be sure to suggest it, no matter what insurance company.
Zero Dollar Charge for Services
Working with a Medicare insurance agent is the most beneficial route when picking a health insurance plan. The biggest perk, consumers don’t pay a dime extra when using these services, they’re completely free!
Clients don’t have the same access to certain data. Medicare brokers have access to a collective database including insurance providers and plan prices. Making comparing options much easier for Medicare agents.
Independent Medicare insurance agents provide multiple healthcare options without pushing you towards a certain type of plan. However, our main goal is to give you all the information you need to make your own decision on coverage.
What to Look For in a Medicare Broker or Agent
Searching for ‘Medicare Advantage brokers near me’ or ‘Medicare Supplement insurance brokers near me’ on your search engine is always an option, but the results aren’t always accurate.
The generic search for ‘Medicare brokers near me’ or ‘Supplemental health insurance agents” can also become problematic, due to misinformation.
Make sure to get facts about health coverage options from a credible source. Working with a Medicare broker is the best way to avoid misinformation.
Medicare Supplement Brokers & Medicare Advantage brokers must be licensed in the state where they sell policies, and they must complete additional training related to Medicare. But a license doesn’t ensure that the broker has experience and will put your interests first.
Some brokers and agents handle all types of insurance, including auto and property insurance. This “one-stop shopping” sounds convenient, but really it means that you’ll have a broker who knows a little bit about everything, not a true Medicare expert.
Some brokers work with only one or two insurance companies. This means the broker will only offer you plans from those insurers, even if another insurance company offers the same coverage at a far lower price.
To get the best coverage at the lowest price, look for an independent broker who specializes in Medicare. They can shop rates from multiple insurance companies.
Working with Different Insurance Companies
Medicare Supplement Brokers and Medicare Advantage brokers must have a license in the state where they sell insurance policies. In addition, brokers must complete extra training pertaining to Medicare.
It’s important to do some research before choosing a Medicare Supplement Insurance broker to consult with. Just because they have a license doesn’t mean they have experience. Moreover, not all brokers have your best interests in mind.
Some Medicare supplement agents work for insurance companies that handle all kinds of insurance, like auto coverage, property, and medical insurance. Sounds convenient right? Using the same insurance company for all your insurance needs. Unfortunately, it’s not that simple. This suggests the agent/broker knows a little bit about many subjects.
Similarly, some Medicare Supplement brokers work with only one or two insurance companies. Resulting in, a more bias plan suggestion. Medicare Supplement Insurance brokers ONLY provide plan quotes for companies within their small circle. Agents have no requirements to inform you of a lower plan option outside their company.
Therefore, finding a true expert for discussing your Medicare coverage options is best. However, Medicare brokers working only with Medicare have more knowledge on about different plans.
We’re Here to Help!
Independent Medicare insurance agents, like us, are perfect experts for all things Medicare. Our team goes through extensive training, and we require agents to remain up to date on Medicare’s constantly changing policy.
Our team at MedicareFAQ focuses only on Medicare. We work with ALL the top-ranking insurance companies in your area. You can sign up from the comfort of your own home, no need to look for a Medicare broker office near you. Contact us for free, we’ll give you a no-obligation quote. If you rather, you can fill out online compare rates form!