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What Is a Medicare Broker and Why You Should Consider Working with One

While all eligible seniors get access to traditional Medicare (Part A and Part B), there are multiple plan options to choose from. Enrolling in the right Medicare plan(s) is very important because it affects access to health care services and out-of-pocket costs. In addition to choosing the right plan(s), it’s important to understand the differences between Original Medicare with Part D and Medigap versus Medicare Advantage. A Medicare broker or Medicare agent can help with all these questions.

Because there are so many options to choose from, signing up for Medicare can be confusing. We highly recommend that kupuna seek expert advice from a qualified Medicare insurance agent as they get ready to transition to Medicare or if they are considering switching plans because of a change in coverage, costs, or personal health care needs. Premier Benefit Consultants is an independent insurance agency with over 60 Medicare agents throughout Hawaii so we can serve you where you are.

What is a Medicare Broker?

A Medicare broker is an advisor who represents multiple insurance companies and the plans that they offer. Local Medicare insurance agents provide free Medicare advice to kupuna who are getting ready to transition to Medicare or who want to make sure they are still on the best plan to fit their needs. Medicare brokers who sell health insurance products related to Medicare have to pass a test on their knowledge of Medicare every year, which means they are up to date on the latest plans and rules.

Why You Should Consider Working with a Medicare Broker

There are many reasons that kupuna benefit from working with a licensed Medicare broker. The first reason is that they will listen to you and give you information about your Medicare coverage options based on your needs and preferences. Second, working with a trained broker can help save time and money, and give you the confidence that you have chosen the right plan. Specifically, your Medicare agent will help you to:

  • Evaluate Medicare plan options based on your needs, budget, and location

  • Answer questions about eligibility and how Medicare coverage works

  • Review coverage and costs for individual plans

  • Enroll in plan(s) within appropriate enrollment windows

  • Review eligibility and apply for programs such as Extra Help that offset the cost of prescription drugs

  • Ensure chosen doctors are “In-network”

  • Check drug formularies on drug plans to ensure current prescription medication is covered as affordably as possible

One of the best things about all of this help is that it is absolutely free!

How are Medicare brokers paid?

If Medicare brokers don’t charge seniors for their services, how are they paid? Typically, brokers are paid by the insurance companies they represent and there is no extra fee or cost to their customers for enrolling in Medicare through them.

How to choose a good Medicare broker

Choose a local broker who represents multiple insurance companies so they can offer unbiased advice on the Medicare plans available to you in your area. We also recommend reading reviews or speaking to your friends and family about their experiences with a broker to see what others think of them.

Our independent insurance agents are dedicated to assisting people on Medicare and those who are ready to transition from employer coverage to personal retirement coverage. We help kupuna understand their benefits options and apply for additional coverage, as needed. We are the only insurance agency in Hawaii contracted with EVERY Medicare Advantage plan, which means we are able to offer unbiased advice; all at no cost to our clients.

At PBC, our clients are our number one priority and we look forward to getting to know you and your needs. Call us today at (808) 738-4500 to see how we may be of assistance.


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