Using a Health Insurance Broker to Buy Insurance


If you are thinking about getting health insurance, it is a given that you would wonder how to find the best policy that would meet your requirements. There are different health insurance companies that you can find in the market and each of them offers different coverage levels and plans. Therefore, shopping for a new policy can be complicated and confusing. So, how do you make the process simple? You seek the services of a health insurance broker.

Who is a Health Insurance Broker?

Licensed at the state level, health insurance brokers aim to assist customers in finding the best individual health insurance policy from a range of insurance companies. This means they will offer you information about the different types of plans, the pricing of each and the coverage you would get in them. Furthermore, the health insurance broker can also help in finding information about a particular kind of policy you are after.

What Services can you Expect? 

When you opt to use the services off a health insurance broker, they will be able to provide you with all the information you need for making an informed decision on the kind of health insurance policy to buy and what company to buy it from. These brokers usually represent a number of health insurance companies and can provide you accurate information regarding coverage and their prices. They will ask you to provide some basic information, such as age, the kind of coverage you are after and your budget. Using this information, they will help you buy health insurance that meets your requirements.

What is the Difference between Broker and Agent?

The term broker and agent are often used interchangeably, but there are some differences that you need to know. As mentioned above, an independent health insurance broker works with several insurance companies at a time whereas an agent will only work with a single company at a time. Thus, using the services of a broker will provide you with better services as compared to an agent.

Why Buy Health Insurance through a Broker?

Using a broker to find the most affordable health insurance policy ensures that you are able to compare all the options at your disposal and go over their prices before you select one. If you are interested in investing in a cheap health insurance policy, but you don’t want to sacrifice the level of coverage you have come to enjoy, working with an independent health insurance broker. They assist you in understanding the terms and conditions of the policy, including the co-pays you may be responsible for and the deductibles. In this way, you can avoid any unpleasant surprises in the future when it is time for you to use your insurance.

Is there Any Fee Involved? 

No, you don’t have to pay any fee to the broker because they usually work on a commission basis. They receive these commissions from the health insurance company, but you do indirectly pay for them as their cost is incorporated in the calculation of your monthly premium. 

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