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Utah Health Insurance Broker: A Friend or Foe?
By Bret Harding MBA
If you own a small business and provide health insurance to your employees, good for you! Many of your peers do not. But if you do, chances are good that you use a Utah health insurance broker. This licensed professional helps you sort through your options year to year, explaining the differences between plans and helping you purchase a policy. The best health insurance brokers also provide lots of assistance to you after the fact, helping nudge insurers who don't pay claims promptly and answering questions about your policy. A recent story in the New York Times spent a good amount of space explaining how helpful a health insurance brokers can be to self-employed folks as well. (New York Times)
If you are considering using a health insurance broker to help you find a new health insurance policy, here’s what to look for:
Good Reputation
Ask everyone you know, including brokers you use for other insurance, for referrals. If you can’t find names through your friends and family, use the Internet and search for a Utah health insurance broker.
It's also important to find out if any complaints have been filed against a broker, contact your state’s insurance department. The most typical complaint is about someone who isn’t really a broker but claims to be one. “If you see a sign on a telephone pole about insurance and call the number, the odds are that the person calling you back isn’t a real broker,” Harding said. “And the coverage may not be real insurance.” You can find the phone number for all 50 states at the National Association of Insurance Commissioners’ Web site.
Experience and Knowledge
Even if a broker comes well recommended, ask a few pointed questions. Find out if he or she belongs to a professional organization like the health underwriters association, the National Association of Insurance and Financial Advisors or the Independent Insurance Agents and Brokers of America. Though membership in a group does not guarantee the broker will be a whiz, it’s an indication that he or she takes the job seriously and is interested in staying on top of changes in the industry. Harding, for instance, belongs to three professional organizations.
Also ask if they are familiar with government plans like Medicare or the Children’s Health Insurance Program. “We do not make money enrolling people in Medicare, but we do it all the time,” Harding said. According to a recent study published in Health Affairs, 4.7 million children are eligible for Medicaid or CHIP but are not enrolled. Good brokers will know about all policies, even those that don’t make them a dime.
Ask Good Questions
Listen, also, to what the broker asks you. Brokers should try to identify your needs and desires for coverage and find out what you can truly afford. If a broker tries to steer you to a pricey plan without laying out the options in a comparative spreadsheet, be very wary of his advice. Another good piece of advice when working with a Utah health insurance broker is knowing what you want in a health insurance plan. Do you want a high medical deductible plan to cut costs? Do you care about “office co-pays” or do you not mind paying for office visits?
Customer Support
Some brokers will come to your house or office, others will hold meetings in their office. However, most brokers now days use the Internet, email, and phone to help individuals with the majority of their health insurance needs without meeting in person. Many times this can be the most effective method for the broker and the individual to purchase an affordable health insurance plan.
Ideally, you want a broker who remains attentive to your queries — not just before you buy a policy but after you seal the deal. Ask a potential broker how he handles complaints about a policy. “The correct answer is, ‘Call me and I will help you with any questions that you have,’ ” said Harding. According to a recent survey of her group, member brokers spend half their time helping clients after they’ve purchased a policy.
And remember, you can always drop a broker if he or she turns out to be a dud. Once you have your policy, you are free to transfer it (and the broker’s commission) to a new representative who may be better at helping with problems and ensuring that the policy you signed up for remains the best deal for you and your family.
Summary
At Utah Individual Health Insurance we’re local insurance brokers so we know the Utah health insurance market inside and out. We have years of experience to help you make the best possible decision.
Start Saving Today on Your Utah Health Insurance Visit: http://www.UtahHealthInsuranceBroker.com
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