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✅Learn The Medicare Basics You Need To Know –
A Medicare insurance broker is an independent agent who represents multiple insurance carriers. This means we can work to give you an unbiased opinion when it comes to your Medicare plan options. An independent broker is different than a captive agent. Captive agents are agents that work for an insurance company, and so they can only sell you one product or one insurance company typically. We recommend avoiding these types of agents during the Medicare process.
So how do independent brokers get paid? As an independent insurance brokers, we get paid directly from the insurance company – there is no additional fee to you to use a broker for your enrollment, and the rates you get from a broker are the same exact rates, by law, as you would get directly from the insurance company itself.
You see, all the monthly insurance premiums you pay include a certain amount that is allotted for administrative fees, and for agent and broker commissions. That’s just something that’s automatically built into your monthly premium whether you use a broker or not, and there’s nothing we can do about that. So when you do use a broker for your insurance plan enrollment, that broker gets paid his or her commission directly from the insurance company. Whereas, if you go direct to the insurance company to enroll, they don’t have to pay the broker. Either way, the rate you pay is the same. However, you get a much greater value usually if you use a broker. A good independent broker will usually offer free services to you, like policy renewal assistance, rate shopping, and back-end claims assistance that you simply miss out on if you enroll directly through the insurance company.
When it comes to choosing a Medicare broker, I recommend you work with someone whom you feel you can trust, who is committed to being in the business long term with you, and who provides value to you. Please call with with questions at any time!