An insurance broker is a professional you can work with to help you shop for insurance policies. In this video we will focus on health insurance brokers. It’s important to point out that there is a distinct difference between health insurance agents and health insurance brokers. Agents are contracted with insurance companies to sell specific policies. Brokers are independent and can help you shop policies from various insurance carriers. Here at Mountain View, we are brokers, so we can shop various plans to best suit your needs.
Your first question is likely to be, what will it cost to work with an insurance broker? I’m happy to tell you that working with a broker is FREE. You get access to the same plans, for the same price as you would working directly with the insurance carrier, and get to work with a professional at no additional cost.
The primary services that an insurance broker provides are: to find various insurance policies available to you, compare those policies to your insurance needs, and complete enrollment in the selected policy.
The first step in working with an insurance broker, is for them to get to you know you and your insurance needs. The intake process will include discussing your personal details, such as where you live, your age, and your income. This information helps your broker identify policies in your geographic area and project the cost of those policies. Your health insurance broker will also get to know your healthcare usage, such as how frequently you seek medical care, who your doctors are, and if you take regular prescriptions. This information helps your broker analyze which of the available plans may be a good fit for your needs.
Once your broker has a good understanding of your personal situation, they will shop for available plans and review the specific benefits of each option with you. This involves teaching you the basic terminology and concepts of health insurance, such as premiums, deductibles, copays, and out of pocket maximums, so you can make an informed decision about which plan is the best fit for you.
And of course, once you’ve chosen a plan, your insurance broker will handle your actual enrollment in the plan for you!
