Medicare is unbelievably confusing to a new beneficiary. Stacks of mail arrive daily from both the goverment and from insurance carriers hawking their medicare supplement or medicare advantage plans, making it hard to figure out which plan is best suited for you. Your Part B open enrollment window only last 6 months from its effective date, so many people feel pressured to make a choice quickly, which can have terrible consequences if your doctor or preferred hospital does not accept your chosen plan. Independent insurance agents specializing in Medicare supplements can help you sort through the clutter so that you fully understand the insurance plan that you ultimately choose.
How do you choose a credible person to work with who will care about your best interests? Here are a few tips for scouting out an ethical, honest, experienced agent.
First, beware mail that you receive directly from an insurance company. If you call the number listed on these solicitations, you will reach a worker who offers only that one carrier’s products. Does this individual have your best interest in mind? Probably not, since he only earns his living if he can convince you that his product is better than the rest. Instead, you want a broker that represents various different insurance carriers so that they are not biased when explaining your choices, and won’t try to direct you to any product that doesn’t fit your needs or give you access to your physicians.
Next, find a broker who has chosen to make Medicare supplements and other medicare-related insurance plans a specialty. In today’s world, there are literally scores of different types of insurance to sell, ranging from group health insurance to disability insurance. Medicare-related insurance plans, however, are very detailed and will demand alot of time to be spent by an agent before he or she can offer each carrier’s medicare plan. Agents who solicit too many kinds of insurance sacrifice being really experienced in any one type of insurance. So if an agent sells group health insurance along with individual health insurance, cancer plans, and also Medicare supplements, it’s a fair bet that he or she won’t have time to really be an expert in Medicare and knowhow it works. Ultimately, the agent may not know all the rules and regulations that affect you under Medicare.
Third, try to spot the signs that demonstrate experience. Does the agent have an actual website with an email at that website’s domain, or does his business card say that you can email him at joeinsuranceagent@yahoo.com? Does he have an office location where you can walk in the front door if there’s a problem with a claim? An agent’s office is a good neutral zone where you can obtain the information you need and leave whenever you want to if you’d like to think about the information before choosing. In today’s day and age, you don’t want a stranger asking to come into your home to “sell” you on an insurance policy because that agent doesn’t have an office. Meeting with this person in your home puts considerable pressure on you to “buy” something.
Finally, does the agent have other employees available to help you with concerns when he or she is tied up in an appointment or on vacation? A meeting with a new client can take from 1 – 2 hours, especially if the consumer is new to Medicare and needs extra time learning the basics. Solo agents can sometimes be in back-to-back appointments all day long. This means that it could take awhile before the agent gets around to returning your phone call. If you can find a well-established agency where multiple staff members are available to help clients with their questions, you’ll feel comfortable that you’ll be able to get the information or assistance you need in an emergency situation.
By employing these tips in your search for the right agent, you can certainly find a credible, established agent who has no need to push you into quick decisions. Expert agents like these will be more concerned with whether you fully understand everything you are being told, and that eventually you will be able to use this knowledge to make your own decision on which policy is right for you. In doing so, the agent knows that he or she can be your agent not just today, but for many years to come.
In summary, consult an independent agent who specializes in Medicare-related products and is contracted with numerous carriers and plans. He or she should have an agency location with employees trained in Medicare-market products to respond to urgent questions. The agent should offer to conduct meetings in his or her office conference room, or by phone if you prefer that. Finally, don’t hesitate to ask for references. Any agent worth his salt can allow you to speak with several satisfied clients who can share with you whether that agent was helpful to them when they were going through the same learning process that you are.
Before you decide on a Texas Medigap agent, make sure you read about the incredible team at Boomer Benefits.