In its simplest definition, a health insurance broker (additionally commonly known as an agent) is somebody who is licensed to sell health insurance. Nonetheless, there are various other services they provide you that fall under the umbrella of selling health insurance. Here are a few of the most vital:
Maybe the most important truth 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 charge for signing up for a plan with an agent, because it will value you nothing more than if you happen to had been to do it yourself
Health insurance is complicated, and an agent will clarify it to you till it makes sense. Ask all the questions you need, that’s what they’re there for. Want to know what your coinsurance will likely be on a certain plan? Want to know what coinsurance even means? Ask away!
An agent may help you compare plans that you simply’re interested in. If you let an agent know what it is you are looking for, they are going to narrow down your possibilities and explain the benefits of each. They’ll check to see in case your medical doctors and preferred medical facilities are in-network, and so they can just to see if any prescriptions you take are covered (and the way a lot).
Your agent is your agent so long as you’ve got your policy. This means that you’ve someone you’ll be able to contact when you’ve got questions and even whenever you want to shop round for a new plan. You have received somebody in your nook, versus just winging it and picking out a plan on your own.
Because I’m sure you do not want to be here reading all day, these are only just a few of the biggest benefits of using a licensed agent to buy health insurance. That is not even together with how much time and frustration an agent can prevent (we’ll save that for another article!).
To make it even more handy for you, many brokers have the ability to access plans that are each on and off-trade (authorities-run Marketplaces for health insurance). This provides you with even more options. Additionally, for agents who can access on-trade plans, they can additionally determine your subsidy eligibility that can decrease your premium and out-of-pocket expenses. Once more, saving you one more headache.
The next time it is advisable 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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