A Medicare insurance broker is an independent agent who should give you an unbiased opinion based on your Medicare plan options. Because they are appointed with many different insurance companies, they are able to find the right fit for your specific needs and budget. You pay exactly the same rate for your insurance whether you enroll directly with the insurer or you consult with an agent/broker. You pay ABSOLUTELY NOTHING for their help – NO BROKER FEE. The biggest difference is the phenomenal back-end service you should receive from your broker, not just during the initial appointment but on a year-round basis.
You pay exactly the same rate for your insurance whether you enroll directly with the insurer or you consult with an agent/broker. You pay ABSOLUTELY NOTHING for their help – NO BROKER FEE.
Why Then Work With A Medicare Insurance Agent?
The benefit to you is enormous, really. An on-call dedicated Client Service Team for our existing clients created to tackle common Medicare hiccups which are otherwise extremely stressful for you. These hiccups can include things like…
Solving billing errors. Helping you with referral issues. Solving pharmacy exceptions when you can’t get your medications.
Medicare agents/brokers should also provide simple and easy education to you about how Medicare works. Every year, thousands of Medicare beneficiaries experience the frustrations of trying to read through their respective Medicare handbooks. Your broker should break Medicare down into pieces that are easy enough to understand.
You should first understand Medicare’s original moving parts. In turn, you will be able to use that knowledge to make a sound and well-informed decision on your Medicare insurance options.
Working with Your Local Medicare Insurance Broker
The rates you pay for your insurance remain exactly the same
Access to collective data about insurance carriers that you may otherwise not have, such as: rate trends and local network information
Offering of a variety of plans, so there is no bias when a recommendation is given of which Medigap, Medicare Advantage or Part D drug plan is right for you.
It’s of even greater benefit for you to choose an agent/broker that specializes in Medicare insurance products, so that s/he can be as educated as possible in the healthcare space. It is difficult for your broker to be up to speed with the latest trends and knowledge of the industry when s/he also sells group health insurance, disability insurance, auto insurance, life insurance, etc. Sometimes Medicare insurance agents try to offer too many different insurance products. They are pulled in too many directions and can’t be as knowledgeable about any one line of insurance.
Outside of specializing in Medicare, your agent/broker should also have the following core values in place.
Understanding your insurance options and healthcare system is the basis of what matters most. If you understand all your options and how they operate in the healthcare system, then you will choose confidently, take increased personal responsibility in navigating your care and know your rights when dealing with others who are responsible for your care.
Everyone’s life and needs are unique. For this reason, we believe each individual should be known by name and by need. Time should be taken to understand you and your healthcare needs so that you can be best supported with the education and service necessary to help you achieve positive results with your healthcare.
Power of Choice
One of Medicare’s biggest principles is that everyone gets to have a choice in their options. Seniors may need a little more time to understand the complex system, but it doesn’t mean they are void of choosing wisely. You should be presented to with zero pressure, a delivery of accurate responses as well as time to consult with family before choosing the healthcare option most fit for you. The decision is always yours to make because the results are yours to bear.
Common Questions about Medicare Insurance Brokers
Do I pay a fee for the help of a Medicare Insurance Broker?
No, you don’t. The price you pay for your insurance is exactly the same whether you buy it direct from the insurance company or through a Medicare insurance broker.
How is a Medicare insurance broker paid then?
Independent Medicare brokers are insurance agents and are paid by the insurance company you choose to enroll with. If you enroll through an agent (Medicare broker), the insurance company pays him/her a commission on your behalf. You get all of the support provided by that agent, while s/he is compensated with an annual commission as long as s/he is the “broker of record.” If you enroll directly with the insurance company, the company keeps the commission that would have been paid to the broker, and you lose all of the free, extra services that we listed above. You pay the same price, but get much less value.
How much does an insurance broker make on Medicare?
It depends on the type of policy you choose to enroll. If you choose a Medicare Advantage plan, the agent/broker will earn the same flat commission regardless of the insurance company you choose. This allows for the least amount of bias when helping navigate an option fit for your specific needs and budget. If you choose a Medicare Supplement plan or a Standalone PDP, the agent/broker will make a percentage of your monthly premium for each policy. This percentage of premium is negotiated when the broker or agency contracts with the insurance company.
Trust is earned, not given
We can help you from step A – Z, walking you through each part of your education and enrollment process. We are confident in our ability to provide you excellent service, but we also understand that we first need a chance to earn your trust.
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By clicking submit on this form, you agree to having a sales agent call to discuss the types of products you selected above. Please note, the person who will discuss the products is either employed or contracted by a Medicare plan. They do not work directly for the Federal government. HRBC works with various Medicare health plans. Each one has a Medicare contract. Enrollment in a Plan depends on their contract renewal. This individual may also be paid based on your enrollment in a plan. Submitting this form does NOT obligate you to enroll in a plan, affect your current or future enrollment, or enroll you in a Medicare plan.