A Medicare Agent is a health insurance professional who helps people navigate the complexity of Medicare coverage options. The best Medicare agents take the time to understand their clients’ unique health needs and budgets. They are able to find the best value from multiple insurers and offer options that may not be available directly from Medicare. A Medicare agent also reviews current coverage to ensure that it meets the client’s goals and is the most cost-effective.
When choosing a Medicare agent, make sure they are licensed in your state. You can do this by contacting your state insurance department or checking the license number on their business card. Also, ask about any plans they specialize in (if any). For example, some Medicare agents only sell Medigap Plans, while others only work with Medicare Advantage Plans.
What to Look for in a Trusted Medicare Agent
Medicare agents and brokers are paid a commission when they help people enroll in a health plan. This commission varies by plan, and it is typically higher for first-time enrollments than for renewals or switches.
Captive agents receive a salary from the insurance company they represent plus a commission on their sales. This can create a conflict of interest because captive agents may be less likely to look at all Medicare options available to their clients.
Independent Medicare agents have contracts with many different insurance providers, allowing them to offer more choices to their clients. The best Medicare agents will review all the different options and compare them to recommend the right coverage for their clients’ individual needs. They will also help their clients complete the enrollment process and answer any questions or concerns that they might have.…