You have a lot of choices when it comes to finding a health insurance broker in Houston. Whether you need individual or family health insurance, short term health insurance, a health savings accounts (HAS), Self Employed Health Insurance, or life insurance working with the right broker can make all the difference. In you need Houston health insurance, affordable options are out there, but you want to make sure you’re getting the coverage you actually need.
What is a Health Insurance Broker?
A professional health insurance broker has the expertise needed to find custom healthcare plans for your business or family. Health insurance brokers are licensed experts who:
- Know the market: They can differentiate mediocre products from excellent products.
- Know the law: They are versed in the state and federal regulations that may expose your business to serious liabilities.
- Know the industry: Their licensing requirements ensure they are up-to-date on the insurance markets.
Agents vs. Brokers
A broker is a professional who can direct you to products offered by a range of companies. A health insurance agent on the other hand, works with only one company and promotes that company’s products. Both are professionally licensed but their a some differences that make them different.
What do Health Insurance Brokers Do?
A health insurance broker helps you:
- Find the right plan for you, and provide you with multiple premium quotes
- Discusses your options so you can get clarity on what’s available with different plans
- Implements the plan you choose
- Services your account, solves issues with billing, eligibility, and claims
- Eases the burden on your time by doing the legwork
- Helps you fully utilize the coverage you purchased
- Assist with the renewal process
Health Insurance Broker Commissions and Fees
Brokers earn a basic commission for their services. They may at times charge extra fees depending on what you need. Commissions are usually based on a percentage of the annual premium and are included in the premium you pay. Make sure to check on what additional fees are changed when working with a broker.
Finding a Choosing Your Houston Health Insurance Broker
You can find an insurance professional in your area in a number of ways:
- Contact associations that focus on health insurance or small business. Often they can direct you to brokers. Your state or local association of health underwriters or chamber of commerce are just two examples.
- Ask trusted advisors, such as your accountant or attorney.
- Check with other business owners about their experiences.
- Check for brokers online. We discuss online brokers below.
When making a decision on whether to use a certain broker, be sure to keep the following in mind:
- Ask about the dollar amount of any fees or commissions that you will be charged, and ask if any separate fees will be added to the premium by the agent/broker.
- Clarify the services that you will receive. For example, some will assist you with explaining the plan to your employees; others will not.
- Remember that an agent or broker becomes an extension of your staff. How well does this person work with your staff on a day-to-day basis?
- Discuss how the agent or broker will assist you during the year. Will your representative be your primary contact, or is another person responsible for servicing your plan?
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