Before you jump into Medicare and purchase a policy that you think might work, you may want to talk to a licensed Medicare consultant about your options. Medicare consultants are experts in the Medicare insurance market. They know the ins and outs of Medicare Parts A, B, C (Medicare Advantage), and D and all of the positives and negatives regarding Medicare Supplement Plans. Licensed consultants are regularly tested on these subjects, and their insights can save you time and money while also ensuring that you get the healthcare coverage you deserve.
This article is here to help you learn just what Medicare consultants do and why using their free services is a smart choice.
What is a Medicare Consultant?
A Medicare consultant provides up-to-date information about all Medicare options in your area. You may not know this, but using their services is free of charge, meaning that you can save time, money, and stress by allowing a licensed consultant to work with you. Consultants are familiar with all the different carrier guidelines, current and historical carrier rate increases, plan limitations and more. Much of the information that consultants know is not easily found on the web if it’s publically available at all.
A good deal of carrier information is provided only to consultants. Carriers are not trying to hide anything, but they know that plan specifics can be overwhelming to folks that do not work in the industry. Also, Medicare’s rules and regulations are constantly in flux, and carriers don’t want you reading out-of-date information and then choosing a plan based on this old information.
As an added token of good faith, consultant’s services are free to use. Not only will you not spend money by working with a licensed consultant, you may actually save money.
Do I Really Need a Consultant?
While there is a great deal of Medicare-related information out on the web, there are still numerous reasons why you might want to work with a Medicare consultant. Medicare is full of jargon and legal-speak, not to mention coverage plans that sound the same and even hidden costs if you file incorrectly. Going at Medicare alone usually comes with a steep learning curve, but if you use a consultant, you will come away with a plan that fits your needs and saves you money.
Licensed consultants can quickly sort through dozens of plans from numerous carriers, which will save you a lot of time. You may not know this, but different carriers will charge different premiums for the same plan, so it helps to look at a full picture of plans before making your choice.
Consultants can help you decide what coverage level suits you best based on your needs and your budget. Using their experience and expertise, consultants can spot issues and give you advice that you cannot get anywhere else. And if you are working with a reputable agent, their services will come with no strings attached.
A good Medicare consultant is an expert in the field, and you can trust their judgement.
So How Do Medicare Agents Make Money?
If Medicare consultants are truly experts at their job, and yet their services are free, then there must be a catch, right? Nope! Medicare consultants have contracts with insurance carriers, so that is how their services remain free to use. This relationship between consultant and carrier is what allows the consultant to get so much information about carrier plans. If you meet with a consultant and they ask you for a fee, you should reconsider using their services. You should never have to pay a penny to work with a licensed Medicare consultant.
Can’t I Just Bundle My Medicare Insurance?
Some Medicare consultants will work for insurance companies that handle many types of insurance such as auto, property, and life. Wouldn’t it be nice to take care of all of your insurance needs with one company? In theory, that may be so, but in practice, it is just not that easy. When a consultant has to work across multiple insurance fields, it typically means they know only a little bit about a lot of subjects.
Medicare is a complicated, specialized market, but more importantly, Medicare insurance is quite literally ensuring your long-term health is taken care of. Also, if you initially enroll in the wrong program or forget to enroll in a certain Medicare Part, you can face stiff penalties that can sometimes last for life. For something so important, you should work with a dedicated expert. Oh, and did we mention using a consultant is free?!
Are there Rules for Consultants Who Sell Medicare Health Plans?
Consultants that represent Medicare plans are governed by a strict set of rules in order to maintain good standing with the Center for Medicare and Medicaid. For one, a consultant will never contact you unless you seek them out first; a consultant will not show up to your door uninvited, and they will not cold call you. Additionally, a consultant will not ask you for personal information such as your Social Security Number or your health history unless it’s to verify membership, determine eligibility, or submit an enrollment application on your behalf.
Also, consultants will not offer you cash or gifts worth more than $15 to join their plan. Lastly, an agent cannot enroll you into a plan during an educational event. Everything listed in this section is something to be aware of when meeting with a consultant.
Enrolling in Medicare
Enrolling in Medicare may seem like a tall task, but our licensed consultants are here to make the process as easy as possible for you or your loved ones. There are numerous options for Medicare insurance packages, but when you give our experts a bit of information about your health needs and your budget, they will use their valuable expertise to narrow down plans and packages that suit your personal situation without breaking your bank.
Our job is to help people just like you find plans that fit them best. We love what we do, and we’d love to help you! Give us a call or send us an email and let’s work together to find a Medicare plan.