In its simplest definition, a health insurance broker (also commonly known as an agent) is a person who is licensed to sell health insurance. However, there are many other services that they provide to you that fall under selling health insurance. Here are some of the most important:
- Perhaps the most important fact to know about working with an agent is that it is free. Insurance agents are paid by insurance carriers, not consumers. So don’t worry about paying some service charges to sign up for a plan with an agent, as it won’t cost you anything more than if you do it yourself.
- Health insurance is confusing, and an agent will explain it to you until it makes sense. Ask all the questions you want, that’s what they’re for. Want to know what your coinsurance would be on a certain plan? Do you want to know what is meant by coinsurance? Ask!
- An agent can help you compare the plans that interest you. When you tell an agent what you’re looking for, they’ll narrow down your possibilities and explain the benefits of each. They can check to see if your doctors and preferred medical facilities are in-network, and they can only see if any prescriptions you take are covered (and how much).
- Your agent is your agent as long as you have your policy. This means you have someone you can contact when you have questions or want to shop around for a new plan. You’ve got someone in your corner, not just promoting him and picking a plan on your own.
Because I’m sure you won’t want to read here all day, these are some of the biggest benefits of using a licensed agent to buy health insurance. This doesn’t even include how much time and frustration an agent can save you (we’ll save that for another article!).
To make it more convenient for you, many brokers have the ability to access plans that are both on and off-exchange (the government-run marketplace for health insurance). This gives you even more options. Additionally, for those agents who can access on-exchange plans, they can also determine your subsidy eligibility which can reduce your premiums and out-of-pocket costs. Again, saving you another headache.
Keep a licensed agent in mind the next time you need to enroll in or change a health plan – it won’t cost you anything, but it will definitely save you a lot.
Source by Angela Duck
