Many people wonder if they need a Medicare broker at all to get medicare insurance or sign up for Medicare. Medicare brokers are simply independent agents that are appointed with many different insurance carriers to find you the best plan for you.
This means you can can find the best plan for unique needs and price point by working with someone who really will find you the best deal.
In this article, we are going to go over all of the details about working with an independent Medicare broker and wether or not you should use one.
Table Of Contents
- How Do Medicare Brokers Get Paid?
- Medicare Brokers Near Me
- How Do I Find A Medicare Broker?
- What Is The Difference Between An Agent And A Broker?
- Do You Need A Broker For Medicare?
- Are Medicare Brokers Legitimate?
How Do Medicare Brokers Get Paid?
You do not pay for a Medicare broker. Their services are completely free. The insurance companies pay the broker directly.
Medicare Brokers Near Me
Most Medicare brokers work in all or nearly all 50 states. Chances are if you contact a Medicare brokerage they will work in the state you’re in. If you want to find someone to work with in person you’ll have to look in your area.
We recommend working with a national insurance brokerage to find which plan and company is best for you at the very least.
How Do I Find A Medicare Broker?
We at Seniors Mutual are a Medicare brokerage, however there are many independent brokerages out there. You can look online or try to find one in your metro area.
The biggest difference to consider when choosing a Medicare broker is what they offer and how many companies they work with. A broker that only works with a few companies might not be able to find the best deal for you.
We work with all of the top Medicare insurance companies in all 50 states.
What Is The Difference Between An Agent And A Broker?
Most of the Medicare insurance agents out there are captive and can only offer one company, a few at most. They also usually get paid higher commission.
Independent agents are also known as brokers because they offer many different companies. That is the only difference between an agent and a broker.
Do You Need A Broker For Medicare?
It is not required to work with a broker to buy Medicare insurance or sign up for original Medicare. You pay the same either way however.
If you sign up for a plan with a Medicare insurance company they will assign an agent to your policy either way. Working with a broker will make the process significantly faster and give you peace of mind that you have the best policy.
Are Medicare Brokers Legitimate?
Medicare brokers are licensed agents just like any other Medicare insurance agent. Furthermore, in the Medicare health insurance sector, the plans and companies that offer them are heavily regulated and well known companies like Aetna, Cigna, Humana, etc.
You can sleep easy knowing that the company a broker helps you choose is a legit company and that the broker helping you is licensed like any other agent.
No matter who you are, when you are first getting into Medicare or are looking for some third party advice about which company and plan to go with, a Medicare broker like Seniors Mutual can help you make an informed decision.
Medicare changes every year and so do the plans and their benefits, the prescription drugs you may have to take down the road, and your health conditions.
It is always a good idea to review your current policies are give you peace of mind about the decisions you are about to make. If you want to speak to a licensed independent broker, give us a call or fill out our quote form. We can help steer you in the right direction and answer all of your questions, for FREE!
We look forward to speaking with you.
About Kelly Maxwell
Kelly is the owner and founder of Seniors Mutual, the insurance agency designed to help seniors find the lowest cost life insurance, Medicare supplement, Medicare Advantage, and annuity insurance to give them financial peace of mind. Seniors Mutual is an independent insurance agency that works with all of the top insurance companies to find the best deal and product for you.
I turned 65 a couple of weeks ago and did not sign up for Medicare or any supplementals because I am fully employed with health insurance benefits. However I am thinking I need to consider getting onto Medicare and retire before I lose my mind.
I am located in California, Pacific Time Zone, available by phone 8 am to 7 pm daily.
Hi Emily, we will be in touch with you ASAP! Thanks for reaching out.
November 28, 2021 at 4:53 pm
I love that you talked that the insurance agency would assign an agent to your policy. My uncle told me yesterday that he wanted to be enlightened about his Medicare insurance coverage and benefits, and he asked me if I had any idea what would be the best option to do. Thanks to this helpful article, I'll be sure to tell him that we can consult Medicare advisors as they can help us provide a more detailed explanation of his insurance plan.
April 15, 2022 at 5:28 am
Glad you liked it, John. Let us know if you or your uncle have any questions.
April 16, 2022 at 2:26 pm
Thank you! We are happy you liked it. Let us know if you want to work with us or want any more information! We work with over 15 different Medicare carriers.
April 19, 2022 at 8:33 pm
I am retired from Humana where I was the marketing executive for Southern California. When moving to Texas and retiring I did obtain my Texas life and health license but I'm not actively using it nor appointed with any carriers. I just want to comment that I was very impressed with your website. I ran across it on Facebook. Part of my job as the marketing executive for Humana was working with brokers and I saw so many websites and advertising that was non-compliant. I couldn't find a thing on your website that CMS would have a problem with nor me. Great job. Thank you for helping seniors . That was the favorite part of my job – setting up and doing events where seniors would have all kinds of questions. I hope you love your job as much as I did.
April 29, 2022 at 3:19 pm
We appreciate the kind words, Sue!
April 29, 2022 at 3:24 pm
It's great that you talked about Medicare insurance agents and brokers and their main difference. My mom's interested in exploring her Medicare insurance options, so she's looking for a specialist to help her. I think your tips will help my mom know who she should consult about her insurance questions, so I'll share them now. Thank you for the advice on Medicare insurance brokers and their broad range of affiliated companies.
May 17, 2022 at 8:25 pm
Happy to be of service Eli! We sent you some more info to your email.
Thanks for reaching out Tex. We reached out!
May 27, 2022 at 4:37 pm
How often do medicare plans increase their premiums, and do they increase them for everyone of do they raise premiums based on how much the client uses the insurance (for medical issues etc)?
September 19, 2022 at 12:04 pm
Hi Kathy, Medicare plans do not increase premiums ever due to health issues (using the actual plan). However, some do raise rates due to older age as you get older, and some are community rated which do not increase due to age. That being said, all Medicare supplement rates go up every year due to inflation and medical costs. So non of them will stay the same.
September 19, 2022 at 12:06 pm