In its most simple definition, a health insurance broker (also commonly known as an agent) is somebody who is licensed to sell health insurance. However, there are various different services they provide you that fall under the umbrella of selling health insurance. Here are a few of the most important:
Maybe an important reality to know about working with an agent is that it’s free. Insurance agents are paid by insurance carriers, not by consumers. So don’t be concerned about having to pay some service payment for signing up for a plan with an agent, because it will value you nothing more than in the event you have been to do it your self
Health insurance is complicated, and an agent will explain it to you until it makes sense. Ask all of the questions you need, that is what they’re there for. Wish to know what your coinsurance will be on a sure plan? Wish to know what coinsurance even means? Ask away!
An agent may also help you evaluate plans that you’re interested in. Once you let an agent know what it is you’re looking for, they will narrow down your possibilities and clarify the benefits of each. They’ll check to see if your medical doctors and preferred medical facilities are in-network, and they can just to see if any prescriptions you take are covered (and how much).
Your agent is your agent so long as you’ve your policy. This means that you’ve someone you can contact when you could have questions and even once you want to shop round for a new plan. You’ve got obtained somebody in your nook, as opposed to just winging it and picking out a plan in your own.
Because I’m certain you do not wish to be here reading all day, these are only a few of the biggest benefits of using a licensed agent to purchase health insurance. That is not even together with how a lot time and frustration an agent can save you (we’ll save that for another article!).
To make it even more convenient for you, many brokers have the ability to access plans which are both on and off-change (government-run Marketplaces for health insurance). This provides you with even more options. Additionally, for agents who can access on-exchange plans, they’ll additionally decide your subsidy eligibility that may lower your premium and out-of-pocket expenses. Once more, saving you yet one more headache.
The next time that you must enroll in or change a health plan, keep a licensed agent in mind- it won’t cost you anything, but it will definitely prevent a lot.
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