What To Consider When Looking For An Individual Health Insurance Broker

An individual health insurance broker is a person who can help you choose a good insurance company and tell you about all the insurance plans available. Insurance brokers will help in sifting through the insurance plans and to located one that fits your personal budget and needs.

The brokers understand that each individual has a different needs. Therefore, a good broker will let you know that there is no specific insurance plan that is designed to suit all persons. The main duty of the health insurance broker is to ensure that you get a cover that is compatible with your needs.

While some people locate a health insurance plan on their own, others know how daunting and frustrating this can be and seek professional help from a health insurance broker. Deciding what insurance broker will help you select the right insurance plan that will satisfy your needs.

Things to consider when looking for an individual health insurance broker


When looking for an individual health insurance broker, it is important that you choose one with a good reputation within the industry. A good way to do this is asking for references from the health insurance broker and their registration paperwork and license information.

Keep in mind that agents and brokers have to pass an exam to be licensed by their state. They must also be licensed by the National Association of Security Dealers or Security and Exchange Commission (SEC) if they are going to sell mutual funds, variable annuity or variable life.

You can easily check the disciplinary record of an insurance broker by calling the consumer hotline of your state insurance commissioner office. This will enable you to find if the insurance broker has any claim against them.

Even though there is no central clearing house where you can get all this information, searching on the internet including online forums and the Better Business Bureau’s official website will help you find important information about a health insurance broker.

Look for a broker with comprehensive knowledge about the type of insurance you need

There is no standard type of broker services in the market and is important that you get assistance from a broker who understands your unique needs. For example, someone with a specific ailment like cancer will have to look for an insurance company with the best coverage for cancer treatments.

Find out if the broker will be your dedicated account manager or not

At times, it may be a good idea to work with one professional broker instead of working with many people. Working with one health insurance provider who understands the ins and outs of your medical history is a very good idea.

Inquire how the insurance broker handles the renewal process

This will help you avoid being caught off guard with a last minute renewal notice from your insurance company. A professional broker will start the renewal process at least 90-120 days before the actual date of renewal.

This will give you and the broker time to discuss the current plan, if it covers all your health needs, things you want to change in your current plan or if you want to switch to a new health insurance company for various reasons.