Published by: PGIA
When the time comes to enroll in a Medicare plan – whether for the first time, at age 65, or each year during the Annual Election Period or Open Enrollment – you might feel as though you face a confusing array of options. Having choices with regard to your healthcare plan is a good thing! But the amount of work required to sort through them might not feel so great. The good news is that you are entitled to receive help with this part of your enrollment process, by consulting with a licensed insurance broker.
After hearing this good news, many Medicare beneficiaries still pause and ask, “Okay, but with that cost me anything?” The answer is no! All assistance with selecting a Medicare plan is available to you absolutely free. You will never have to pay a fee for consulting with a broker, whether or not you select a plan through them. And no matter which plan you select, you will pay the same premiums as you would have paid without seeking this advice.
This is because brokers receive their commissions from the health insurance companies that manage Medicare Advantage plans, and those commissions are already built into the price of plans. You will pay the same price for that plan as someone who did not seek assistance in selecting their own plan.
And here’s another way to look at it: Since payment to brokers is handled by the insurance companies anyway, we’re all paying (in a roundabout way) for this type of assistance. You might as well take advantage of the service everyone is paying for through their premiums!
Consulting with a broker can save you time because they are already familiar with all of the Medicare plans available in your area.