Should you use a broker to get health insurance?

Health insurance application form with pen, calculator, and glasses

If you can find your own insurance company and quickly set up a plan over the phone or even online, why invest in a broker? The reasons to do so may surprise you.

As your policies, benefits, and employers shift, figuring out new health insurance plans can be become that check-list item you never quite get to. While trying to figure out a proper plan can indeed be a paperwork hassle and logistical, time-consuming nuisance, insurance is, innately, something that is meant to protect you and your staff. As such, might using a broker be the most plausible route?

Going Through the Insurer Directly May Not Be the Best Option

Myriad avenues toward securing a high-quality plan exist; you can buy straight from insurance companies, work with agents who will sell insurer’s plans on their behalf, or there are brokers who window shop for the best deals and most customizable plans for your company’s needs. It might seem most efficient to go through the insurer directly, but that road can be full of potholes: for one, going straight to an insurance company means you are at their whim and may be charged for a less cost-efficient plan if you are not savvy in the insurance marketplace. On top of that, strenuous hours, research, compliance issues, and phone calls go into locking down a plan that is best for you and your team.

Utilizing an Insurance Agent Also Has its Drawbacks

Similar gripes can come with agents who, though seemingly independent in their work, indeed collaborate with companies to hawk their product and make its case. Might an independent broker be the more solid, trusted, and cheaper option?

Why You Should Use an Insurance Broker

It often is: for one, brokers are external workers, kind of like freelancers, and thus easily disposable. So it is very much in their best interest to discover and activate the most affordable and individualized health insurance plan for your company. As an experienced point person with a foothold in the insurance world, they can also act as advisors and guides for employee questions around doctors’ disputes about deductibles and co-pays. And since no insurance company employs a broker, their advice is sound and impartial. Plain and simple, they are their own employer working for your best interest.

Looking for a broker, or perhaps in need of a consultation about best practices and your company’s unique insurance needs? Let’s set up a call today!