You might feel proactive attending open enrollment meetings at work and calling health insurance companies on your own, but how much do you really know about picking a medical insurance policy? If you choose the wrong plan, you might end up without the coverage that you need during an emergency. Fortunately, independent insurance brokers can act as your guide along the way. Here are two ways an insurance broker can provide you with excellent service:
1: Help You To Find A Customized Plan
Wouldn't it be great if you had access to an insurance insider who could explain different policies and help you to find the perfect plan? Because independent insurance brokers don't work for one insurance carrier in particular, they have the opportunity to offer valuable, objective advice that can help you to find the best plan.
In addition to being able to compare complicated policies side by side and explain the particulars, insurance brokers can also take the time to understand your personal situation and customize a policy just for you. Here are a few things your broker might take into account before recommending a medical insurance policy:
- Budget: What good is an insurance plan that you can't afford? To keep you covered, insurance brokers can carefully evaluate your budget so that enroll with the right company. They can even walk you through hypothetical insurance situations so that you understand which types of expenses you might be faced with.
- Special Situations: Do you have a large family or several pre-existing conditions? Special situations might require additional insurance riders. Fortunately, your broker will know which carrier to use and how to amend your policy.
- Network: Where do you live? Which hospitals and clinics do you have access to? Insurance brokers can evaluate each plan and decide which policy would cover the doctors and medical facilities in your area.
- Customer Service: Insurance companies might seem the same until you need a little help. However, since your insurance broker works with carriers day-in and day-out, he or she can help you to track down a company that you will enjoy working with.
Although most people assume that they couldn't possibly afford this level of customer service, the fact of the matter is that working with an insurance broker is typically free of charge. Customized plans can even drive the price of your insurance premium down. Because insurance brokers help people to find the right plan, people typically find they have coverage for what they need—which means less risk for the carrier. Because of this fact, policies purchased through an independent insurance brokerage are typically lower than policies purchased directly from an insurance company.
2: Help You With Claims
Have you ever received a medical bill that you knew wasn't correct? Although it might seem like an anomaly, medical billing mistakes are incredibly common. In fact, one study found that 30-40% of medical bills contained errors, although some research suggests this number could be as high as 80%. Unfortunately, if you spot a mistake, you might find yourself contacting insurance companies, verifying coverage, and arguing about contract rates.
However, you don't have to resolve billing problems on your own. In addition to finding the perfect policy for you, independent insurance brokers also help you with claims issues. If you receive a bill that doesn't seem right, you can simply contact your broker who will start working on the problem. Because your broker understands the intricacies of your policy and maintains relationships with each carrier, your bill might be straightened out before you know it.
By working with an independent insurance broker, you can enjoy an insurance plan tailored to your needs, without spending more than you need to.