In 2017, experts estimated that there were more than 900 health insurance companies in the United States. Each one of these companies is a middleman that acts as a gatekeeper between consumers and health coverage.
If 900 seems like a head-spinning amount, consider this additional fact: About 44% of the market in the U.S. is controlled by just five health insurance companies.
Those brands include:
- Anthem
- Centene
- United Healthcare
- Humana
- Health Care Service Corporation (HCSC)
The Affordable Care Act’s health insurance marketplace creates another layer of complexity. Not all health insurance providers operate within the market. In 2020, about 30 new insurers introduced market plans. But the total number is still relatively low, with an average of about five insurers per state.
It may seem like there are only two options: Too much to choose from or not enough!
Even the most informed consumers would have trouble narrowing down their options among hundreds that may be present in their state. And many Americans, especially entrepreneurs and business owners, have realized that ACA health insurance options are simply not suitable for them.
With all that in mind, it is a wise idea to have a trusted advisor to guide you in health insurance selection. Making the right choice of policy is essential, since you have limited options for changing or upgrading your health insurance once a health issue actually arises.
A local health insurance broker can help you make the best decision for you.
A Local Health Insurance Broker Is There To Help You Find The Best Health Insurance
Families, individuals, and businesses can all benefit from the insight of a local health insurance broker.
A health insurance broker is a specialized insurance professional who is not associated with any one health insurance brand. The broker diligently researches all of the health insurance options in a community as part of a commitment to help each and every client connect with the right insurance for them.
A local health insurance broker can act in the client’s best interests because they have no sales quotas imposed by an insurance agency. Insurance brokers are also not required to recommend insurers’ specialized products and will only do so if those products genuinely meet a client’s needs.
In short, a local health insurance broker is someone who is always on your side.
Your local health insurance broker opens doors to as many policies as possible within your area, giving you options that would be impossible to initiate from the insurance marketplace. Many of these plans cannot be accessed by an individual looking for insurance on their own – they must have a broker to enjoy the benefits.
Using a local health insurance broker, you can find:
- Health Insurance
- Dental Insurance
- Vision Insurance
- Life Insurance
- Medicare Prescription and Supplemental Medicare Insurance
- Supplemental Ancillary Insurance
- Major Medical
A local health insurance broker reaches out to health insurance companies and negotiates agreements to make different plans available, but does not agree to prioritize any one type of plan over the other. A broker may work with public, private, MediShare, and union-affiliated health insurance plans, among others.
The Advantages Of Using A Local Health Insurance Broker Over A Health Insurance Agent
If you call up a health insurance company directly, they will be glad to put you in touch with an agent. Agents have deep knowledge of the product portfolio of that particular company – and their principal job is to sell you a policy. They know few details about their competitors and never admit when they are not a good fit.
Because health insurance is so important, it is crucial to get unbiased advice. Your ability to get the care you need without going into debt – or even risking bankruptcy – may depend on your ability to get factual, accurate health insurance information unclouded by any sales agenda.
Beyond this, there are other good reasons to choose a local health insurance broker:
1. You Have Access To All The Best Health Insurance Options In Your Community
Health insurance companies have millions upon millions of dollars to advertise their services. But when it comes down to your health or the health of your family, a persuasive pitch is meaningless. You need concrete facts about how well each company can be expected to perform when it really counts.
With a local health insurance broker, you can be sure that an expert in the field has curated the best policies. You will be able to truly compare your options across a full spectrum of trusted health insurance firms. That is what the “choice” everyone is always talking about really looks like!
2. You Can Make A ConfidentDecision About Health Insurance Much Sooner
There may be any number of health insurance options available to you. But in any given search, you will only be able to find a few of them. While it’s true that large urban areas generally have a broader range of health insurance plans than rural areas, it is impossible to know until you look.
Through assistance from a local health insurance broker, you don’t have to spend weeks or months trying to reinvent the wheel. If you have lost your insurance or are not comfortable with the level of protection that your current insurance grants, you could move forward with a better policy within just a few days.
3. You Can Leave Affordable Care Act Marketplace Plans Behind If You Wish
Business owners, entrepreneurs, and contractors – there are many things that tie them together. One of those things, sadly, is that Affordable Care Act health insurance does not always work for them, leaving them seeking ACA alternatives. Many successful people have found themselves paying back thousands in ACA subsidies.
Partner with a local health insurance broker and you can leave behind the uncertainty of ACA plans. You also have the opportunity to expand your search for health insurance beyond what ACA standardized policies offer. It’s much easier to find excellent vision, dental, and other forms of insurance.
4. You Have A Knowledgeable Health Insurance Advisor In Your Corner
What happens when you leave your current health insurance policy behind? If you are used to discussing your needs with a health insurance agent, it’s “goodbye and good luck” – if even that. You have to start all over again simply because your needs have changed.
Not so with a local health insurance broker. As long as you are still in the area, your broker can help you find new, expanded, or updated coverage to meet the needs you have now. A good broker gets to know you and understands what you are going through!
When it comes to the choice between an insurance agent or a local health insurance broker, the bottom line is simple: You should do what’s best for you, not what’s best for Big Insurance. Choice Health Insurance Brokers will help. To see the difference that a local health insurance broker can make, contact us today.