What are the benefits of using a broker?

Question Jennifer: My Advantage Plan was terminated and I need to choose a new one for next year. When I turned 65, I called the company I have now directly to sign up and didn’t use a broker like you, but I’m thinking of doing that this year. What are the benefits of using a broker?

Answer: It’s important to understand that plan premiums and benefits are the same no matter who enrolls you, or how you enroll, in a plan be that through an independent broker, online, or directly through a company.

Let me explain why it’s never a good idea to call a company directly to get a plan. 1) You’re not going to have that company’s plans compared side by side to others on the market. Millions of people enroll in plans that aren’t competitive because they just called the company they had their health insurance with prior to turning 65 and didn’t shop all available companies. 2) You’re not going to be given the Supplement option, just Advantage Plans. If Jennifer would have had Supplements explained thoroughly in an unbiased manner, including the pros and cons, risks and rewards of both Supplements and Advantage Plans, it’s likely that she would have chosen a Supplement. The biggest mistake people going on Medicare for the first time can make is not having both types of plans explained properly and not understanding the risks of Advantage Plans, which include never being able to enroll in a Supplement the rest of one’s life.

If you choose the right broker, there are lots of benefits. Unfortunately, there are plenty of untrained and unscrupulous agents out there.  Here are a some of what you need to look for and avoid in a broker, especially in Jennifer’s situation where she is losing her Advantage Plan and has Guaranteed Issue (GI) rights that allow her a once in a lifetime opportunity to enroll in a Supplement without being denied for any current or previous health issues. 1) Run away from any broker who won’t explain the Supplement option to you or tries to talk you out of one. The reason this happens is we get paid very little, or nothing at all, to enroll people in a Supplement who are using their GI rights. Agents who won’t talk about Supplements or discourage them are only interested in their commission and not what’s best for you. 2) Don’t work with brokers who aren’t appointed with every competitive Advantage Plan and Supplement on the market. You can’t get unbiased advice if they don’t represent and can’t compare all plans side by side.

The Health Insurance Store is licensed in more than 20 states, and we encourage everyone to reach out to see if we can help you.  With a simple phone call and couple minute talk with an agent, or email to me, we can determine if it’s wise we schedule a meeting to go over and compare other plans or companies, or if you’re fine to stick with your current plan for 2027.  If you want to work with a local agent in your area, or we’re not licensed in your state, what you want to look for in a broker is what we provide our clients. 

First of all, having an office with a staff is very important. It means the broker takes their job seriously and is willing to invest so their clients have the best experience. The Health Insurance Store has two offices with 9 agents and 4 administrative staff who are in the office a minimum of 40 hours per week. We’re open 9 to 5 all year long. We don’t just work during the Annual Enrollment Period. Being a good broker is a full-time job and doing it right consists of much more than helping someone pick out a plan and enrolling them. That’s the easy part. At The Health Insurance Store we advocate for our clients, make sure they’re getting everything entitled to them as stated in their policies and don’t ever pay any erroneous bills. The following are some of the services we provide our clients. 

• We assist with any issues and make all necessary phone calls to medical providers, the pharmacy, the insurance company or Medicare to resolve billing discrepancies, claim delays or denials, unexpected prescription costs or denials, and anything even remotely related to their policies. 
• We mail a letter to each client every year prior to the Annual Enrollment Period (AEP) to make them aware of any changes to their plans and provide our recommendation if they should remain on their current plan(s) or consider moving to another and meeting with those who want to compare plans. 
• We send out several emails each year with important updates on Medicare or their plan, reminders of their medical or prescription benefits, tips and advice on how to save money, and more. 
• Determine Eligibility and apply for Medicare related programs that help clients save money such as Medical Assistance, PACENET, Extra Help, Patient Assistance Programs, and others we have discovered over the course of 19 years in the Medicare insurance business. 

And we always make calls for, or with, our clients! We never just give them a phone number to call themselves. It’s our job to ensure the right questions are being asked and proper answers are given to ensure each problem is solved with an outcome that’s 100% satisfactory. 

If you don’t use The Health Insurance Store, interview as many prospective brokers as necessary until you find one you’re comfortable with. Ask what companies they represent and if they sell and explain both Supplement and Advantage Plan options. I don’t recommend any who are biased towards Advantage Plans. Ask what services they provide after the enrollment is complete and if they have any administrative staff to help them. You represent a significant commission and deserve honest advice and excellent service. 

If you have any questions regarding today’s topic or would like to set up an appointment for a no-cost consultation, give the office a call, 724-603-3403, or email me personally, Aaron@GetYourBestPlan.com.