Do You Need A

Health Insurance Broker?

Health insurance brokers are sought by people who do not belong to a group insurance policy, such as the self-employed or those with pre-existing medical conditions. A broker acts as a sort of matchmaker. The broker's responsibility is to match up those seeking health insurance with health insurance companies that most closely match that person or group's needs.

A health insurance broker will also work with the coordinators of group insurance benefits in much the same way he works with an individual. The broker is given a list of desired benefits, either by an individual or a group coordinator, and the broker shops around to find the best match. The health insurance broker then presents what he feels is the best plan based on the list of needs, and if the person or group benefits coordinator agrees, the broker usually works to get a contract signed by both parties.

Who Does the Broker Work For?

It's important to understand that a health insurance broker does not work for a health insurance company. Instead, a broker makes it his business to know all about the different health insurance companies in the area, including their reputations, their frequency of rate increases, and even such things as the way they treat policy holders who submit a lot of medical claims. But even though the broker does not work for any health insurance company, it sometimes happens that a broker is given an incentive (usually monetary) to recommend 1 insurance company over another.