A Medicare broker is an advisor who represents several insurance companies and can help you evaluate plan options, as well as help you enroll in a plan. No, working with a Medicare agent is solely up to you. Additional guidance is useful for many people, but it depends on their needs. If you know what you're looking for and don't have a lot of questions, you can search for Medicare Insurance Plans near Nexton SC and sign up for them directly.
You don't need an agent or broker to find the best Medicare coverage for you. You can do the research on your own. However, a Medicare agent or broker can guide you through the often confusing process of finding the best Medicare plan or combination of plans available for your needs. You should choose an insurance broker or agent who is licensed and has strong experience selling Medicare plans in your state. Ask your family and friends to recommend you. When you interview an authorized sales agent or broker, ask them about the types of plans they manage and the type of customer they usually work with.
Given the wide use of brokers and agents and the potential impact of their guidelines on beneficiaries' coverage options, the Commonwealth Fund partnered with public opinion research firm PerrYundem to learn their views on the state of coverage options, the challenges their clients face when choosing an option, and the ways in which their financial incentives align or conflict with the interests of beneficiaries. According to brokers and agents, the commission structure of Medigap plans encourages the sale of plans that charge high premiums. According to brokers and agents, rising Medigap premiums are leading some beneficiaries to choose Medicare Advantage. It is not clear if the evaluation performed by the brokers and agents is given to the beneficiaries' primary care physicians, or if it serves to inform the management of the beneficiaries' care or if it helps to expedite obtaining additional resources and benefits. All of the participating brokers and agents sold Medicare plans at the time and lived across the country, and many sold plans in multiple states.
When comparing Medicare agents and brokers, it's important to understand the two types of agents: independent and captive. Marketing efforts have created confusion among beneficiaries and have helped boost enrollment in Medicare Advantage, according to brokers and agents. Brokers don't sell all the plans in their geographic area; they say they choose the plans they offer based on how quickly insurers respond to their questions, customer feedback and, sometimes, the benefits of the plan. Some brokers and agents said that, based on relative commission rates and information provided by CMS, it seemed to them that the federal government wanted more people to sign up for Medicare Advantage.
Brokers and agents said that some Medigap and Medicare Advantage insurers offer “substantial additional fees” when enrollment objectives are met. As several brokers and agents have pointed out, beneficiaries are often unaware of the potential subscription of Medigap insurers, and advertising seems to confuse and mislead beneficiaries into believing that information about coverage options is incorrect. Authorized insurance agents or brokers are employees of health care companies or have a contract with companies to sell their plans. You can check with Medicare to find agents and brokers and with your state's insurance department to check the license status of someone claiming to be an insurance agent or broker.
According to agents and brokers, it's important to find the right coverage for their clients the first time, because changing coverage can be difficult. Many state insurance department websites allow you to check the license status of someone claiming to be a licensed insurance agent or broker.
