Trying to find a health insurance provider on your own comes with many challenges. This is where a health insurance broker can guide you to make the most informed decisions for your future health. Some people believe a broker is like a matchmaker who finds you the perfect health insurance partner. The best Texas health insurance broker should listen to your needs and concerns to help guide you through the complicated journey of finding a health insurance plan that fits you.
Why do I need a health insurance broker?
Comparing insurance policies on your own? Understanding the coverages, networks, exclusions, and differences between policies can be difficult. Choosing among the many options may require lots of time and research.
The cheapest Bronze health insurance plan may wind up costing more than a Silver or Gold plan, depending on your situation. If you take a brand-name medication, it may not be covered on one plan’s formulary or be very expensive on another. It would help if you had an advocate looking out for you – that’s the role filled by a broker.
For health insurance in Texas, a broker helps you find the best coverage year in and year out as plans and your needs change. There are nuances you might not be aware of, limitations on coverage outside your city, or other considerations. If you call an insurance company, their agents will only discuss the plans they offer, whereas an insurance broker is independent and represents you.
What does an insurance broker do?
Did you know that a broker’s services are free to clients? Their role is to find you coverage. Then, the insurance broker is paid a commission from whichever insurance company issues the policy they sold.
Brokers work closely with clients to research their needs, then recommend the best options – from both a coverage and price standpoint. Insurance brokers know their market. They provide a wider range of policies and prices because they can offer clients options from multiple insurance companies. For businesses, they can help you develop a benefits strategy to attract and retain staff.
Furthermore, your relationship with an insurance broker doesn’t end with the sale. An insurance broker continues to perform regular service work for clients, such as resolving claims, letting you know about policy changes and newer options, and providing advice.
Finding the best broker
Before starting your search, recognize that most brokers specialize and get licensed in specific insurance areas, such as Property and Casualty (e.g., fire and auto), Commercial, or Health/Life (for individuals or employee benefits). Specializing ensures they tailor their knowledge and professional development. For clients, there is satisfaction in knowing you are dealing with someone who has expertise in that type of coverage.
Obtaining recommendations from others is one way to find a reliable insurance broker since you know the broker was helpful to them in the past. You can ask those in similar fields or situations, such as seniors if you are looking for help with Medicare, or other business owners if you are seeking benefits plans. You can search on Google or turn to a firm you have read about.
Remember, however, when weighing options, experience and reputation count. You want to rely on a broker who is respected and viewed as a leader in the field. For group plans, you also want to find a broker who is adept at plan design and will base recommendations on your employee population and benefits budget.
Additionally, you want a broker who is there for you all year long. Insurance companies and agencies often add staff during open enrollment. Look for a broker with a dedicated staff who will be available year-round to service your policy and act as an advocate for you or your employees if issues about coverage arise.
If you are looking for health insurance in Texas, a broker like Custom Health Plans can help! Custom Health Plans, a full-service health insurance broker in Plano, offers the experience, reputation, and support that individuals, families, small businesses, and those who are self-employed need.
Custom Health Plans markets alternatives to Marketplace or Obama Care that are in most cases less than 50 % less expensive than Marketplace. Most people do not know that these off-exchange plans are even available and in many cases cheaper and a better option than going to the Marketplace.
It has served the Texas market for more than 20 years and has over 40 years of combined experience in Health Insurance and Benefit Design. Being responsive to clients throughout the year is a priority.
Custom Health Plans has experts in individual, Medicare, and group medical, dental, and vision options. Health insurance is a necessity to avoid outrageous medical bills. Custom Health Plans can help you find the best health insurance.