6 Benefits of Using a Health Insurance Broker

Navigating through health insurance options is like navigating through the dense tropical jungles of Brazil. Well, maybe trying to find the ideal health insurance plan is not as dangerous as coming face to face with an anaconda.

But it is still a highly frustrating process.

First, we have to deal with public policy changes every four years that dramatically alter the healthcare industry landscape. Second, the sheer number of health insurance options, especially if you include cheaper online policies, is enough to make your head spin. Finally, consumers have to deal with health insurance companies that try to sell them products they do not need.

What is the solution to finding the best health insurance policy? The answer lies in working with a health insurance broker.

What is a Health Insurance Broker?

A health insurance broker works as an independent agent who provides customers with all the information they need to make an educated decision concerning what type of health insurance policy to purchase. Independent health insurance brokers usually work with a group of health insurance companies, which means they give customers the most accurate information about terms, pricing, and coverage. After consulting with you, a state-licensed health insurance broker can match you with the policy that meets your healthcare needs, as well as ensures you pay what you can afford each month in premiums.

Why Working with a Health Insurance Broker Makes Sense

You might be thinking, “Why should I pay someone to do something I can do on my own.” Let’s take a look at the eight benefits of using a health insurance broker that should explain why paying one makes sense.

More Health Insurance Options

When you consider a health insurance company, the company can offer you policies that only it offers. This limits your health insurance options, which can mean you end up paying more than you should in monthly premiums. An insurance broker represents several insurance companies that give you considerably more policy choices that might save you money.

Objective Advice

Health insurance brokers are much more than sales professionals. They also provide customers with helpful advice when it comes to policy coverage and how to address changes in national healthcare laws. A health insurance broker works in your best interests to ensure you buy the policy that matches your healthcare needs. You get exposure to more health insurance products, as well as a comprehensive and objective risk assessment to determine how much coverage you need.

One Point of Contact

Having to deal with several insurance companies means you have to deal with several company representatives. By working with a health insurance broker, you communicate with one person who handles the interactions with each representative from every insurance company the broker represents. Trying to organize the information given to you by a half-dozen health insurance companies can be overwhelming.

Save Money

This benefit might seem questionable. After all, you are paying a broker to find you the best option for your health insurance policy. However, whatever you pay a health insurance broker can pale in comparison to how much the broker saves you in monthly premiums. Health insurance policyholders that go through a broker tend to make fewer unnecessary claims, as well as obtain health insurance for the right amount of money.

The bottom line is insurance companies offer brokers lower monthly premiums because the companies benefit from the expertise of a professional that matches the right insurance company with the right consumer.

Understanding Different Policies

Let’s face it: Cutting through health insurance industry jargon is an exercise in futility. It is not just the confusing terms; it is also the tedious descriptions of each type of health insurance coverage. A health insurance broker can help you understand the fundamentals of each policy that makes sense for your healthcare needs. Without the expertise of a broker, you might purchase the wrong policy that fails to provide you with the coverage that you need.

Assistance with Claims

We already talked about how a health insurance broker can prevent you from filing frivolous claims. You also benefit from a health insurance broker’s understanding of the claim filing process. It is in the best interest of both the broker and the insurance company to settle a legitimate claim quickly and accurately.

One bonus benefit of using a health insurance broker: a broker saves you time. Brokers specialize in different types of health insurance plans that include coverage for individuals and coverage for employees that work for a business. Consumers no longer have to spend hours online researching companies and policies.

All that work now falls on the shoulders of a state-licensed health insurance broker.