If you’re comparing your Medicare options, you may feel overwhelmed by the number of choices facing you. Should you stick with Original Medicare or try a Medicare Advantage (MA) plan? What type of MA plan is the best? Which Medicare Part D drug plan is the best? Does it include your prescriptions? What about Medicare supplement insurance? Is it worth the cost? This is where a Medicare insurance broker can help. This post describes everything a Medicare insurance broker does (like the licensed agents at Medicare Solutions) and how one can assist you.
What Is a Medicare Insurance Broker?
A Medicare insurance broker helps you compare your Medicare plans and options. Just like a regular insurance broker, we represent multiple carriers. That means you get to review plans and costs from a broad range of providers instead of a single insurer.
The agents at Medicare Solutions undergo rigorous training to earn their license to sell Medicare products. However, their training doesn’t end once they receive that license. Throughout our careers, we continue learning until we can answer just about any question, not only about Medicare but about all of the plans available from each of the carriers we represent.
Medicare insurance brokers typically sell Medicare Advantage plans as well as Medicare Supplement Insurance (commonly known as Medigap) and Medicare Part D plans. Both the broker and the plan providers, i.e. the insurance companies that offer the actual policies, must be licensed to sell Medicare in every state where they sell plans.
Medicare Insurance Broker Benefits: Expertise
There are numerous benefits to using a Medicare insurance broker, but the greatest may be their expertise.
The comment we hear most often from clients is how confusing and overwhelming the Medicare program is. There are so many choices, so many guidelines, that many beneficiaries tell us they just gave up trying to understand it. When you work with a broker, though, you’re working with someone whose only job is knowing Medicare inside and out.
At Medicare Solutions, your licensed agent walks you through the program, explaining each part and how it works. He or she also asks you questions. Your answers help us guide you through your options so you can make the right choices for your unique needs.
Medicare Insurance Broker Benefits: One-Stop Shopping
Once you understand your options, it’s time to choose your plan. Depending on your level of choice, that can be incredibly time-consuming. You can’t just look at costs (or at least you shouldn’t). You may find a great plan, but if its network doesn’t include your providers, or its drug formulary doesn’t include your prescriptions, it’s not the right plan for you.
Because your Medicare insurance broker works with multiple carriers, he or she can help you compare plan benefits and costs from each of those insurance companies. Instead of calling each insurer, or visiting multiple web pages, you talk to one person: Your broker. And, since your broker doesn’t work for any of those insurers, he or she isn’t biased. You get straight answers about what’s best for you, not the insurance company.
Medicare Insurance Broker Benefits: Upcoming Changes and Trends
Because we live and breathe Medicare, licensed agents both recognize trends and know when big changes are coming. For example, at Medicare Solutions, we’ve been recommending Medigap Plan G for a while a now. This surprises some folks, because Plan F is considered the Cadillac of Medigap plans. What those folks may not know is that Medicare is phasing out Plan F (check out our post, Plan F vs Plan G, for the details).
Now, you may be able to keep your plan, even after it’s phased out. But history tells us that your rates will rise and keep right on rising. If you decide to change plans, you’ll have to undergo medical underwriting. That could result in you being denied a Medigap plan at all, or being forced to pay higher rates. Your broker’s insider expertise helps you avoid all of these pitfalls.
How Much Does it Cost to Use a Medicare Insurance Broker?
You pay absolutely nothing to work with a Medicare insurance broker. Your rates won’t be any higher, and we don’t charge you any commission. When you work with a broker, you get all of the benefit and none of the cost.
What You Get with Medicare Solutions
The licensed agents at Medicare Solutions help you compare and evaluate your plan options. Our experienced agents are licensed in all 50 states and have access to thousands of plans. We can help you find the right one to meet your needs.
What’s more, we continue supporting you as long as you remain enrolled in your plan. That means if you need to file an appeal, have an issue with a claim, or just a question about your coverage or enrollment, your agent is only a phone call away.
If you’re new to Medicare or have questions about enrollment or your coverage, call us toll-free at 855-350-8101 (TTY 711). You can also read through the Medicare Solutions blog. It’s chock-full of educational articles about Medicare and common health issues for seniors.
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