Do You Need A Health Insurance Broker - Part 2

Will it Cost More to Use a Broker?

That's difficult to answer in general terms. A health insurance broker might be able to get an individual included in a group plan that is offered by the state or a trade union or organization. In such a case, an applicant might find the rates are lower and the coverage better than if he had attempted applying directly to a health insurance company. Most health insurance brokers work on commission and make money only when they've matched up insurer and insured. That means that the broker's fee is paid by 1 party or the other, and in some cases, both parties.

Why Are Brokers Hard To Find?

Because the rates and the rules regarding health insurance are continually changing, health insurance brokers are few and far between. Most states do have licensing requirements that brokers must meet before they're allowed to work as a health insurance broker. And because these requirements are issued at the state level, they differ from state to state.

But if you find yourself lost in the tangled web of health insurance red tape, consider working with a health insurance broker. The broker may be able to lead you to your best health insurance deal.