Why Have an Agent?

By Marc Manor

With all of the1-800 numbers and websites loaded with forms and automation, why would someone need an agent to assist them with their Medicare or healthcare related insurance? When it comes to Medicare or healthcare related insurance, having an independent agent may be one of the best values in the universe!

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Where else can you get someone to research, analyze, and educate you on benefits as well as sort out the options across the vast horizon of the healthcare and Medicare insurance options? And all this without charging you a fee for these services! Now that’s value!

Of course, there may be a cost associated with insurance premiums and benefit schedules. However, independent agents almost always work to get you the best insurance plans that specifically meet your needs and budget. And yes, I realize there may be a few unscrupulous bad apples out there trying to “steer” or “up-sell” customers; but, there are several ways you can sift out these bad apples to improve your changes for a great agent experience.

Licensing and the State Department of Insurance

Every state has a Department of Insurance and most states make agent information available to the public through their website. Insurance shoppers should always ask their agent for their license credentials.

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Not all agents carry their license on their person. However, they know their agent license number which can be easily verified. States regulate agents and require them to complete ongoing continuing education.

Centers for Medicare and Medicaid Services (CMS)

CMS strictly regulates and monitors the compliance of insurance companies as well as agents in the field. CMS is a real “guard dog” and advocate for seniors and other Medicare beneficiaries. Today, there is a great deal of fraud, waste, and abuse to be on the lookout for. Information on how to guard against Medicare fraud can be found on the CMS website: https://www.medicare.gov/forms-help-resources/help-fight-medicare-fraud.
CMS publishes star ratings for every Medicare plan on an annual basis. Your agent should be able to show you these ratings without hesitation. The star ratings are one way to see how the plan you are interested in stacks up.

Internet and Social Media

These days if you want to know about just about anything you just “google” or ask “Siri” (or “Alexa”). This is another good way to see what’s out there regarding your agent. Some agents have their own websites, others are attached to an agency that have a company website. Checking out reviews on sites like “Yelp”. Facebook, Twitter, and the like are also good ways of finding information on agents.

Up-selling vs. Filling in the Blanks

Supplemental Insurance helps fill in the blanks for consumers in certain situations and these policies can be very appropriate depending on the situation. If your Medicare or Healthcare insurance plan has high deductibles or co-insurance for certain things, supplemental insurance can help offset these out of pocket costs.

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Another consideration is how will sickness or injury effect one’s income. If there is a diagnosis of cancer, will chemotherapy treatments take you off the job and effect your income? If you are laid up after an auto accident will you be able to support your family? On the other hand, if you are retired, maybe those things are not such a big risk. Just be smart and do your due diligence on the risk and return. Is the supplemental plan affordable? A good agent will help you make a decision that is in your best interest.

More advantages of using an independent agent

An independent agent usually has access to a number of insurance companies/carriers. This helps the consumer in many ways. An independent agent is able to access information on many doctors/Primary Care Providers (PCPs), prescription drug requirements, and level of coverage to determine how best to help their clients choose a Medicare or Healthcare insurance plan that works for them.

The agent can also be a resource throughout the year to answer questions and provide advice on how to use benefits. Often times, the consumer has to absorb so much information during the selection and enrollment process that some things may get lost or forgotten. Agents can also be a useful resource each year as insurance plans change or prescription drug formularies are modified. I always recommend an annual review to make sure my clients are still in the best possible insurance plan.

In the vast majority of cases, the agent can provide this help throughout the year at no additional charge to the consumer. The insurance company pays the agents and in most cases, there is no difference in the insurance premiums whether the consumer uses the agent or not. As I see it, having an agent is a real win/win for the consumer. As long as you find an agent you like, trust, and feel comfortable with, it should be a great value-added resource to your insurance plan.

Marc Manor is a 30-year military veteran who is now dedicated to teaching his fellow Americans how to make the most of their Medicare and healthcare benefits.  As an independent agent, Marc has access to a wide variety of carriers with an abundance of resources to find tailored solutions.  There is no charge for a consultation so call 904-222-0698 or visit http://www.manormedisource.com/www.manormedisource.com today to stay on course with Medicare education and insurance solutions.