What's the difference between a Medicare agent and a Medicare broker?
Asked by: Kadin Gerlach | Last update: September 2, 2025Score: 4.3/5 (12 votes)
Do Medicare brokers charge a fee for Medicare?
Typically, brokers are paid by the insurance companies they represent, with no extra fee or cost to you for enrolling in Medicare through a broker.
What are the disadvantages of using an insurance broker?
For instance, brokers might not have access to every insurer on the market, potentially limiting your options. They may also charge a fee for their services, which might not be cost-effective if your insurance needs are relatively straightforward.
Who is the best person to talk to about Medicare?
- Call us at 1-800-MEDICARE (1-800-633-4227). Help from Medicare is available 24 hours a day, 7 days a week, except some federal holidays. ...
- Contact your local State Health Insurance Assistance Program (SHIP) – Get free personalized health insurance counseling.
What are the duties of a Medicare agent?
As a Medicare agent, you review your clients' health care plan and help them evaluate their needs against the services and coverage they are eligible to receive. You make recommendations about obtaining supplemental insurance and help people understand their options for prescription drug, vision, and dental policies.
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How do Medicare agents get paid?
Medicare agents are paid by insurance providers who offer Medicare plans. The insurance providers contract with Medicare agents and agencies to find and enroll beneficiaries, and they compensate the agents by paying commissions on the plans they sell.
What are the benefits of using a Medicare agent?
Licensed Medicare agents have experience and familiarity with all the options out there. Seeking their help will allow you to quickly sift through the most viable options and save you enormous amounts of time and energy as you make your decision and select a Medicare Advantage plan.
What are the 6 things Medicare doesn't cover?
- Eye exams (for prescription eyeglasses)
- Long-term care.
- Cosmetic surgery.
- Massage therapy.
- Routine physical exams.
- Hearing aids and exams for fitting them.
How much does a Medicare advisor cost?
Medicare brokers such as Boomer Benefits get paid by the insurance companies they represent. And you pay exactly the same rate for your insurance if you use a Medicare consultant (broker). There is no extra fee or cost for enrolling through a broker. You will never pay a fee for our help.
Does everyone have to pay $170 a month for Medicare?
Most people pay no premiums for Part A. For Medicare Part B in 2025, most beneficiaries will pay $185 per month. Certain factors may require you to pay more or less than the standard Medicare Part B premium in 2025.
Does using an insurance broker cost more?
You may have to pay a small fee to use an auto insurance broker. However, some brokers are paid a commission from the insurance company based on the price of your policy instead. Ultimately, working with an insurance broker can be worth it if you save more money than the fee you pay.
What are the disadvantages of using a broker?
- Cost. Engaging a business broker comes at a cost. ...
- Lack of Control. ...
- Conflicts of Interest. ...
- Compatibility and Understanding. ...
- Lack of Alignment and Understanding. ...
- Confidentiality Concerns. ...
- Dependency on Broker Performance. ...
- BONUS RISK: Poorly Written Broker Contract.
What is the difference between an insurance agent and a broker?
Insurance agents and insurance brokers can both help you buy an insurance policy. But insurance agents represent the insurance provider that employs them and help sell policies from that single provider. Insurance brokers represent the consumers who use them and can help them shop for policies from multiple providers.
What is the final rule for Medicare in 2024?
Beginning January 1, 2024, this change will provide the full low-income subsidy to those who currently qualify for the partial subsidy. This implements section 11404 of the IRA and will improve access to affordable prescription drug coverage for approximately 300,000 low-income individuals with Medicare.
Do Medicare agents come to your house?
People representing Medicare plans aren't allowed to:
Come to your home uninvited to sell or endorse anything. Call you unless you're already a member of the plan or you've given them permission to contact you. If you're a member, the agent who helped you join can call you.
Who pays my Medicare premiums?
For most beneficiaries, the government pays a substantial portion — about 75% — of the Part B premium, and the beneficiary pays the remaining 25%.
Why do agents push Medicare Advantage plans?
Why do brokers push Advantage plans so hard? It's money. Sorry, that's the honest truth. The commission for an Advantage plan can be roughly double that of the most popular Medicare supplement plan and it's paid all at one time.
Do I need an insurance broker for Medicare?
It's up to you whether you want to work with a licensed Medicare insurance agent or broker. Using a knowledgeable and ethical licensed sales agent or broker can make your search for a health plan significantly easier and faster.
Why are people leaving Medicare Advantage plans?
Key takeaways: People leave Medicare Advantage plans because out-of-pocket costs vary between plans, network restrictions can cause frustration, prior authorization requests can delay care, and it can be difficult to use the additional benefits they provide.
How much commission does a Medicare agent make?
Medicare Advantage Commissions
2023 commissions for most U.S. states are $601 for persons new to Medicare and $301 for renewals. Commissions are even higher in some U.S. states like California. Commissions are paid in advance. Renewal commissions stay level for the life of the policy.
Is Medicare Advantage really better?
Many Medicare Advantage plans offers as much, if not more, coverage than Original Medicare—at a lower cost. However, Original Medicare provides greater flexibility when it comes to finding doctors to work with.
Can you change Medicare brokers?
The resounding answer is yes, you can absolutely change your insurance broker.