According to a recent survey, 21.3% of Americans are underinsured. What’s more, the survey results also revealed that those who were underinsured were at a much higher risk of carrying medical debt. Are you in need of more or better coverage? If so, the best way to beef up your coverage and get the best plan for your needs is to find a health insurance broker.
A good health insurance broker can get you the most bang for your buck because they know the market, the current products and understand the fine print of plans. They can give you a comprehensive range of options to choose from and advise you on what is best for your needs.
If you are a business owner, they can also assist in setting up plans for your employees and walking them through the onboarding process.
However, it’s very important that you find a good health insurance broker who is experienced, transparent, and focused on meeting your needs.
Not sure where to start looking? Keep reading as we outline how to find a trustworthy health insurance broker.
Why You Need a Health Insurance Broker Not an Agent
Before we get into how to find a reliable health insurance broker, it’s important that we talk about why you need to look for a broker rather than an agent.
Health insurance brokers are independent parties that are licensed to sell health insurance plans to their clients. They sell plans from a variety of providers.
Health insurance agents, on the other hand, typically work directly for one provider. This means that they will only offer you plans from their provider. They won’t compare plans from different providers, which means you have less chance of getting affordable health insurance that’s also comprehensive.
In contrast, health insurance brokers compare plans from numerous providers. By doing this, they can offer coverage options that are truly the best deals for your needs and not just plans from one provider.
So, whether you are looking for individual health insurance plans or ones for your business, do yourself a favor and make sure you look for a health insurance broker and not an agent.
Ask Friends and Family
If you are looking for health insurance assistance, one of the first places to ask for recommendations is from friends and family.
Seeing as health insurance is something everybody needs, chances are some of your relatives or friends may have found their coverage through a broker.
However, before you pick up the phone and call the first broker someone recommends, be sure to research them online. Maybe they have some reviews that can give you an indication of how good their overall service is.
Ask Other Businesses
Are you a business owner looking to take out a health care insurance plan for your employees? If so, a health insurance broker is the person you want to speak to.
A great way to find out about available brokers in your area is to ask surrounding businesses. Did they work through a broker, and if so, who? Were they happy with the service?
If you can, try to talk numbers with your fellow business owners to gauge whether they got a good or mediocre deal on their insurance packages.
Ask Any Trusted Advisors
If you have a trusted advisor, such as an accountant or attorney, they could also be a good person to ask for health insurance broker recommendations.
Ten to one, they might have their own insurance broker they can recommend or be able to get recommendations from their network.
Look For Brokers Online
Besides asking people you know for health insurance broker recommendations, you can also look online. Start by typing in a search like “Texas Health insurance brokers” or “health insurance brokers near me.”
As mentioned above, make sure you check any available reviews for the brokers or services that come up.
Get Clear on Fees
Once you have lined up a few potential brokers, set up appointments with them. The next step after this is to get 100% clear on the fees they charge, if any, so you can make comparisons.
In many cases, Health Insurance Brokers do not charge any fees to use their services because this is paid for by the health insurance carrier. So, for all intents and purposes, there is typically no cost to use a Health Insurance Broker.
Get Potential Brokers to Outline Their Services
Besides asking about their fees, you should also ask potential brokers to outline what services you get. For instance, if you are taking out a health insurance plan for your employees, then you’ll want to know whether the broker is going to help you explain the plan to your employees.
Ask About Experience, Licensing, and Qualifications
When choosing a health insurance broker, you also need to make sure they carry the proper licensing and qualifications. Firstly, you can ask them what coursework they have done and what their professional certifications are.
You can also check their license with your state’s department of insurance.
Lastly, you should ask them how long they have been licensed and selling health insurance.
Looking For a Health Insurance Broker? We Can Help
If you’re underinsured, this can be a recipe for financial disaster. Unfortunately, the US has the most expensive health care system in the world.
The best way to get the coverage you need is to find a reputable, experienced health insurance broker.
Fortunately, you won’t need to look far. We are a full-service Texas health insurance broker and provide solutions to individuals, businesses, families, and the self-employed.
Shop for health insurance in Texas now and get the best coverage for your needs.