Health insurance broker and agent
The Health Insurance Shop is a health insurance broker serving Angola IN, Auburn IN, Bluffton IN and Huntington IN. Whether and agent or broker your consultant should be licensed and knowledgeable. Any many ways a health insurance broker acts as a Sherpa and helps you navigate the complex and pitfalls of health insurance.
Most people use the term agent and broker interchangeably. When it comes to health insurance agents you get captive agents and independent agents. Captive agents work for or represent a specific insurance company. An independent agent acts more like a broker and connects consumers and business clients with appropriate health plans.
So for all intents and purposes a health insurance broker is the same as an independent agent. They review and compare plans from different insurance companies and advise their clients accordingly. They get paid a commission or flat fee by the carrier for plans sold.
Sometime you can get a better deal from a captive agent. However, a health insurance broker has access to several carriers and could find you a better fit. It does not make sense though to work with multiple captive agents, as then you are trying to be a broker yourself.
Both captive agents and health insurance brokers make their money in the form of commissions received from one or more carriers. The advantage of using an insurance broker is that you get informed and professional advice and you will get a plan from a carrier that is the best fit for your needs.
Health insurance is a complicated field and your policy generally tends to be long-term. It makes sense to get expert advice to make informed decisions when buying expensive long term products such as health insurance plans and policies.