Medicare can be a daunting task. Most people go through their lives not giving much thought to Medicare, except the taxes that come out of our paycheck. Then the time comes when the use of Medicare will soon begin, and that’s when it becomes apparent of how confusing it can be.
How Can a Medicare Insurance Broker Help Me
Most people nowadays will turn to the internet to collect information of what they can expect from Medicare. Many people start at Medicare.gov; while Medicare.gov is a great source of the basics of Medicare, more often it prompts even more questions than it answers.
You start to read about Part C, Part A, Part B, Part D and all kinds of different enrollment periods. You read about donut holes, not the kind you eat but the kind that cost you a ton of money if you reach that point.
After hours of trying to find out how you are going to be covered you are now more confused than you started because of all the different variations of options and because they all work differently.
Ultimately, you come to a conclusion that speaking to an expert will be the best thing for you, but who? Your neighbor is on Medicare, but does he really know everything? He likes his plan, but is it the best for you?
You can call and insurance company direct, but will they be completely honest about their competitors, after all there are many insurance companies out there that boast that they top choice for you.
What is a Medicare Insurance Broker
According the Free Dictionary by Farlex – A Broker, independent of any insurance company, who represents the interests of the buyer in searching for insurance coverage at the lowest cost and providing the highest benefit to the buyer.
Using a broker instead of ad agent direct with a insurance company, allows you to get objective information about many insurance companies without bias towards one or the other.
They are generally compensated about the same from the insurance carrier so there should be no cost to you for their services. If you speak to an agent or broker and they have a service fee you may want to think twice about using that broker.
Can a Broker Help Me Find and Enroll Into My Medicare Plan
Absolutely they can; Not only that they can look at your situation and provide options to help you make a decision, and then enroll you to the plan you choose.
There are several advantages of choosing a broker instead of an agent for the insurance carrier directly.
For example, if someone has access to multiple options versus offering coverage through only one carrier such as Humana, United HealthCare, or any other company directly. You will have an accurate comparison with up to date prices.
If you were to speak to a carrier direct they have their accurate price, but the price they may give you for their competitor may not be accurate as they are not contracted with the other carrier.
This can result in you making a decision to go with them over their competitor based on inaccurate information.
Another advantage is that since different companies offer different styles of plans and have different rules, you will only get the rules and specifics for their plans, and they may not have, and in most cases don’t know the rules or plan styles available for their competitors.
A broker will have precise information of all of the companies that are represented giving you the proper information needed to make an informed decision.
They will also have a better idea of which carriers have more conservative rate increases as they see all the prices, allowing them to guide you to a decision that will not only be good for your current situation, but also benefit you in the future by keeping your increases at a minimum.
Do I Need a Medicare Insurance Broker Near Me
With today’s technology, you don’t need to waste your time by driving down to a local insurance office to meet with a local broker. Today, agents are licensed in multiple states, if not all states, to make it more convenient for beneficiaries.
I am sure you have heard about priceline.com for your travel costs. In their commercials, you see how they shop the rates to different companies to ensure you get the best rate. By using a broker like Elite Insurance Partners and MedicareFAQ it works the same.
The broker will collect some information to see what is important to you, find out your needs and wants are, and then provide all the information to help you decide what is best for you. This will give you the fact-based information you need, which carriers fit your needs, and coverage you want.
In summary the benefits of going with a Broker instead of a direct contracted agent, or the company themselves are:
- A customized comparison that fits the needs and desires of the coverage you are seeking.
- A more comprehensive range of Medicare Plan options compared to the Medicare-contracted insurance company or agent.
- A positive and time effective experience that allows transparency of the plans comparative features, benefits, prices and options from different health insurance companies.
- The ability to not only get all your information in one place, but also can complete the enrollment at one time. Less time consuming.
- No additional charges, the cost of a broker is $0. The plans are government regulated so the prices are the same no matter where you enroll.
- Clear, concise and unbiased information for your Medicare Options.
Still have questions? Call us today to speak with a Licensed Insurance Broker. Or you can complete our online rate form to have an agent contact you now.