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How Medicare Agents Are Paid

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A Medicare agent is an independent Medicare insurance broker who offers a balanced opinion about your choice of coverage. Medicare agents partner with various insurance companies to help find the best Medicare plan and provider for you, depending on your budget and healthcare needs.

If you decide to consult a Medicare agent, you will pay the same insurance rate as when you enroll directly with any insurance provider. In addition, you do not need to pay any broker fee when you consult an agent.

However, if you decide to enroll directly, you may miss the numerous benefits of consulting a Medicare insurance agent. Therefore, before we explore how Medicare agents are paid, we’ll consider the benefits of working with an insurance agent.


BENEFITS OF WORKING WITH MEDICARE AGENTS


First, a Medicare agent will help you avoid and navigate common problems associated with Medicare, such as billing errors, referral issues, and pharmacy exceptions.

Medicare agents also provide more information about Medicare plans and how they work. They help to break down the terms and information into bits that are easy to understand. A professional agent will help you make a well-informed decision on which Medicare plan to choose and your coverage options.

When working with Medicare agents, you pay the same rates as when you buy the Medicare policy directly from an insurance company.

 

HOW AGENTS GET PAID

Insurance companies pay independent Medicare agents rather than Medicare enrollees. However, if you choose to enroll with an insurance company through a Medicare agent, the insurance company will pay the agent a fee or annual commission.

If you enroll directly, the insurance company will keep the fee. Also, you’ll lose the extra services offered by the Medicare agent.

With Medicare agents, you get access to data about insurance policies and carriers that you may not usually have. As a result, you get more information about various plans to help you choose the right plan.

The amount the Medicare agent makes depends on the policy you choose.

For example, if you purchase a Medicare Advantage plan, the Medicare agent will earn the same flat commission regardless of the insurance provider. For Medicare Supplement plans, the agent makes a percentage of your monthly premium.
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Dale Wondisford

MEDIGAP INSURANCE AGENT

13 Years experience helping hundreds of families ge the best insurance policy to meet their needs.

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laina roy
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I have had the opportunity to have meet Dale approximately 7 years now. I have never had someone take the time to check what’s the best way to insure myself. He does a very in depth review of what was going on with health issues and the medications, in order to place me with an insurance that’s going to save on my costs
Mark Poff
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Dale is very knowledgeable and experienced working with the many offered medicare plans finding the best plan that benefits his clients which he did for my wife and I. I highly recommend Dale as I totally respect his judgement of which plan is best for the client.
Richard Hibbard
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Dale is really helpful he will get you a answer to any questions you may have. He even got on a three way call so we could hear what was going on. He always returns your call promptly. Dale is very knowledgeable about all types of insurance. Very friendly and no pressure tactics to buy. Would highly recommend Dale.