Have you begun to look into your Medicare coverage options and discovered a vast number of options to choose from? Similarly, are you seeing the ocean of advice online and finding it difficult to wade through the good from the bad when picking your Medicare insurance plan? Don’t worry. You are not alone in this predicament.
In fact, there is an entire career avenue dedicated to helping you, and others like you, to weigh the pros and cons of different plans, answer questions you may have, and assist you with enrolling in a medicare health insurance plan.
Medicare brokers know the ins and outs of Medicare plan options. Their business is to understand the explanations and complexities and to assist you. But there are so many insurance agents available, and some are better and more helpful than others. How do you know how to find an agent that is best for you?
Here are a few considerations to make and questions to ask when choosing a Medicare Broker.
What’s the Difference Between Agents and Brokers?
It is actually quite common to hear the terms agent and broker used interchangeably. But technically, these two terms have a distinction. Every insurance company has employees who represent them and sell their plans directly. These are insurance agents. These agents specialize in knowing all that their plans encompass and are available to answer specific questions and help you with specific scenarios their plans can cover.
Independent companies who employ individuals to help you find insurance plans among several different insurance companies are called Brokers. They help to broker a relationship between you and a service that you are seeking. Brokers are often less specialized in the specifics of one plan but know the pros and cons of many different plans across many different companies.
There are benefits and drawbacks to working with an agent vs. a broker and vice versa. The choice depends on you and your individual circumstances.
Questions to Ask Medicare Insurance Brokers
When you choose to work with a broker, you want to ensure that you are receiving the best information and customer service possible. It can be challenging to know which medicare insurance agent is the best, though. Below are a few questions to ask to help you begin your search in the right direction.
How long have you been selling Medicare?
This is a great question to ask before you select a broker. However, you do not necessarily need to look for a specific answer. The way that the broker answers the question is a better indicator for you of whether you should be working with them or not.
You would think that longevity in the industry is the best way to know if a broker is worth your time, and in some cases, it is. But sometimes, a person may lean on their long-term experience as a crutch to avoid learning about new plans and opportunities. You are looking for a broker who is interested in staying up-to-date and knowledgeable. Therefore you should not work with a broker simply because they have been selling Medicare for a long time, but you should also not be turned away from a new broker that is eager and continually learning.
How many insurance companies do you work with?
Typically, brokers will have an agreement with different insurance companies to help bring in new clients. These insurance companies will pay them a fee based on the enrollments they bring to the company. Because of this, each broker will have a different number of plans that they can assist you with. It is best to find a broker with a wide variety of options because they are not specifically tied to one or two companies. You will know better that you are receiving the best plan for you in your broker is not biased towards one company or another.
Do you offer support outside of enrollment?
Brokers are available to help you sign up for a Medicare health plan, but it is best if you can find a broker who can answer additional questions and help with other services of Medicare. For instance, you should find a medicare broker who understands the differences and complexities of Original Medicare vs. Medicare Advantage Plans. Also, can your broker assist in finding Medicare supplement plans such as a Part D prescription drug plan?
Additionally, is your broker available to assist you outside of the enrollment period, such as if you decide that you do not like your plan and would like to look for something different, if you are having billing or communication issues, or if you have had a change in your family or life that affects your coverage.
Choosing Patriot Insurance Brokers
At Patriot Insurance Brokers, we have a team that will pass your question test with flying colors. We are not only in the insurance business to make money but to help people. Our team is dedicated to helping you find the best plans for you and your budget. If you need assistance choosing a Medicare broker, our company offers the best options you can find. Call us today!