3:32 AM
John Kumar
10 Apr
Posted by: Cobra Help Center in: Individual Health InsuranceIf you're new here, you may want to subscribe to the RSS feed to keep up to date on all new posts and information. If your COBRA is within 63 days of expiring, your ability to get guaranteed major medical insurance is running out! Contact Cobra Help Center today!
There are three main ways to get health insurance. The first is directly to the source, from an insurance carrier. The second is from an agent, who basically works for a insurance company. The third is from a broker or underwriter.
An insurance carrier has their best interests at heart. If you went a car dealer, and asked them what car you should get, their first recommendation would be their best car, of course! They make the most off of this and you pay the most for it. Insurance carriers are the same way. Insurance is not a mini-van, and one size does not fit all. Insurance carriers would love for you to think of it like that though, as they can and will only recommend their own product, and most times their most expensive product first, hoping you will take it.
Agents are really just employees of the insurance carriers, but don’t get a salary most times. In that case their even worse! Agents get paid on commission, so the person at the insurance carrier you talk to isn’t really going to care what plan you buy as much as an agent as they get paid no matter what (in most cases). Agents want you to buy from the company their represent, because they are not allowed to sell elsewhere. This makes an agent a bad choice as they cant give you all the options you need to me the right choice.
Broker or Underwriters, like Cobra Help Center or Planning Financial Futures can give you the best choice and selection for your money. A broker represents not just one carrier, but every carrier in your state. This not only allows you the widest choice of options, but the best price for your coverage. Each person insurance needs are different, and change with time. One company may be good for you while you single, but when u get married another might provide you better coverage at a lower cost.
An agent or insurance carrier can not provide you with all the information that you need to purchase the right plan for you. They are interested in which plan is best for them. A broker can lay every plan in your state, that fits your needs, in front of you and guide you to the best benefit options and health coverage that suits you. Don’t be fooled by the crafty agents saying they represent the best company, compared to a broker who represents every company.
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