5 Reasons You’re Not Working With A Medicare Insurance Agent
1- I can just sign up by myself online.
2- I do not want to share my personal information.
3- I cannot afford to pay an agent.
4- The agent is biased to sell me a policy that pays out the highest commission.
5- I am already on Medicare for years, what else is there for me to do?
1 – I can just sign up by myself online
Some things can be done yourself. Medicare should not be one of them. There are so many nuances making it easy to make lifelong mistakes. From deadlines to coverage options, there are many considerations to keep in mind.
2 – I do not want to share my personal information
We get it, privacy is important to you. We feel the same and make it our priority to keep all personal information confidential. Additionally, Medicare agents are bound by the same HIPAA laws as your doctor.
3 – I cannot afford to pay an agent
Here is the good news: We do not charge for our services! That is right… you can leave your checkbook at home. Independent agents are compensated by the insurance carrier in form of a commission. When an agent makes a sale the agent receives a commission. Your rates are the same regardless if you utilize an agent.
4 – The agent is biased to sell me a policy that pays the highest commission
This is why it is so important to research the agent before you get involved. Things to consider: only work with an agent who is independent; this ensures you are getting an objective view of the Medicare landscape. Captive agents only represent their own company plans. Additionally, see if there are reviews left by other customers. Feel out if the agent is a salesperson or an educator.
5 – I have been on Medicare for years. What else is there for me to do?
This is an unfortunate misconception. Everyone needs an annual Medicare checkup to ensure their prescription drugs are in the best plan with the best formulary. In addition, Advantage plans change every year. Last year’s plan may have been the best, but this year the plan lost benefits or other plans added benefits. Maybe you need a new doctor this year or your current doctor dropped your plan’s network.
Finally, Supplement plans should be reviewed annually to ensure you are not overpaying on your Supplement premium. Every year new carriers and charters come to the Medicare space with more competitive rates for the same plan G, N, OR F. If you can answer health underwriting questions you can save on your monthly premium.
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Disclaimer: Views expressed by the writer are not a representation of CMS/ Medicare/Medicaid or any government entity. Never cancel current coverage until you are fully approved for the new rates.