In its most straightforward definition, a health insurance broker (additionally commonly known as an agent) is someone who’s licensed to sell health insurance. Nevertheless, there are a lot of different services they provide you that fall under the umbrella of selling health insurance. Listed here are a number of the most vital:
Perhaps crucial 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 fee for signing up for a plan with an agent, because it will cost you nothing more than in case you were to do it your self
Health insurance is complicated, and an agent will clarify it to you until it makes sense. Ask all of the questions you need, that’s what they’re there for. Need to know what your coinsurance can be on a certain plan? Want to know what coinsurance even means? Ask away!
An agent can assist you compare plans that you’re interested in. While you let an agent know what it is you’re looking for, they are going to slim down your possibilities and explain the benefits of each. They will check to see if your medical doctors and likered medical facilities are in-network, they usually can just to see if any prescriptions you take are covered (and how a lot).
Your agent is your agent as long as you’ve gotten your policy. This means that you’ve got somebody you possibly can contact when you could have questions and even when you wish to shop round for a new plan. You have obtained someone in your corner, as opposed to just winging it and picking out a plan in your own.
Because I’m sure you don’t need to be here reading all day, these are only a number of of the biggest benefits of using a licensed agent to buy health insurance. That is not even including how a lot time and frustration an agent can save you (we’ll save that for one more article!).
To make it even more convenient 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-exchange plans, they can also decide your subsidy eligibility that may lower your premium and out-of-pocket expenses. Again, saving you one more headache.
The next time you must enroll in or change a health plan, keep a licensed agent in mind- it won’t value you anything, but it will certainly prevent a lot.
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