What Are the Benefits of Working with a Broker for Your Medicare Benefits?

Posted by Bryce Korngold
Estimated Reading Time 1 minute 34 seconds

When it’s time to sign up for Medicare, should you take a DIY approach or talk to an insurance broker? As you start learning more about coverage and the different types of plans that are available, it can be overwhelming to navigate your options.

The Initial Enrollment Period is a critical time because you have a short period when you can sign up for Medicare coverage. Instead of making a mistake with a DIY approach, a better solution is to talk to an insurance broker about your individual needs.

What Is a Medicare Broker?

Original Medicare doesn’t cover everything you need for healthcare services later in life. But there are options to sign up for private insurance, and Medicare will cover most of the costs for these plans.

A Medicare broker is a professional who partners with different insurance companies. So, when working with a broker, you have various options to choose from various policies that meet Medicare requirements.

How a Medicare Broker Can Help

There are undeniable benefits to working with a broker when you are choosing a Medicare plan. This broker (or agent) discusses your unique needs to understand the type of coverage that is necessary. Then, they can help you narrow down the different insurance options, helping you select the ideal healthcare coverage for retirement.

Not only will your broker ask questions about your health goals, but they will address your budget to ensure the monthly premiums fit your financial constraints. Additionally, these plans may offer extra services that aren’t available through Original Medicare.

Finally, when you’ve chosen the right Medicare plan that suits your needs, your broker can assist with the enrollment.  You can always follow up with the broker each year to review your Medicare coverage and determine if you should change plans in the New Year. Medicare offers an annual open enrollment period when you can make these changes.

Review Medicare Plans to Find the Right Fit

Monarch Benefits is here to help when you need assistance with your Medicare options. We offer a personalized approach to addressing your unique needs for healthcare coverage in retirement.

If you are approaching age 65, contact us to speak with a licensed agent for a no-cost, no-obligation consultation.