What is the difference between an insurance Broker and Agent?

There is a difference between working with a health insurance Broker like Deborah of Hilgerman Insurance Solutions and buying health insurance direct from a sales Agent. While both are experts in benefits, an Agent represents just one insurance company, sometimes called a “Captive Agent”, and a Broker is an independent, neutral, third-party producer. That means that as a Broker, we are not tied to any specific health insurance carrier and our focus is on providing quotes, reviewing plans, comparing pricing on premiums and medications, and examining a mix of insurance companies to help you find the best overall product, pricing, and value for you or your organization.

What are the benefits of working with a Broker to buy Individual, Group, or Medicare Health Insurance?

The best part is that collaborating with a Broker does not cost you anything extra as the rate of the plan does not increase or decrease by using a Broker. The insurance carrier pays commission once you purchase the product.

Does it cost extra to work with an insurance Broker?

The short answer is no. When you work with me as your Broker, I can provide more personal service that most insurance companies can’t provide. As a Broker, I will spend the time before you purchase a plan researching, analyzing, and comparing plans considering your specific needs. This can equate to many hours of work. That is why, when it comes time to pick the plan and enroll, the expectation is that you will enroll with me. This gives you a more personalized service.

As an example, I have had a situation in the past where I have spent a considerable amount of time with a client only for them to go ahead and enroll directly with the insurance company I recommended. Then later, when they needed help, they called me, but since I was not their Broker of Record, I was not able to help. This does not happen often, but when it does it is upsetting. 

Questions to ask your health insurance Broker

How long have you been in the business?  Experience matters! Avoid “newbies” unless they are working under the guidance of an experienced Broker. I have been a Broker in the health insurance industry for 14 years. 

How many insurance companies do you represent? Brokers representing a few health insurance companies are limited in the value they can offer and their ability to connect clients to comprehensive market solutions I represent.

• 11 Organizations in Ventura County and 64 plans
• I am licensed and certified to sell in 11 states currently:

CA, AZ, NV, OK, TX, NC, SC, MO, CO, ID, MA

What do you do to stay on top of the latest industry news and trends? With the health insurance marketplace constantly shifting, you want a Broker who stays up to date on the industry. This is what I do:

• Attend sales presentations, Medicare seminars and Medicare Summits, carrier trainings, webinars, zoom training and conference calls.
• I Belong to the National Association Benefits Insurance Professional (NABIP), which provides ongoing training and keeps us up to date on the current events surrounding our industry. I belong to the County, State and Federal divisions of NABIP.
• I am appointed with every carrier for most every product they sell. The certification process begins in June and ends in October every year. This equates to well over 60 hours of training annually and could be more. There are volunteer organizations out there that can assist in completing the application, however they are not licensed or certified.
• I also am trained on fraud, waste, abuse, and ethics annually.

What additional support do you offer to your clients, outside of shopping for rates? I am an advocate for my clients. This means I do not just enroll them in a plan and disappear. I am their “Broker for Life”.

• When a need arises where they have an issue with an insurance company, they know they can call me and together we will find a solution to their problem. I know who to call and if I do not, I have resources that help me find answers. 

• Every year during the Annual Enrollment Period for Medicare, I concentrate on my current clients. Some Brokers only work on obtaining new clients during this time. I do not focus on this. I reach out to all my clients to obtain their current medications so I may process a plan Review for them to show them the changes in their current plan. Often, this saves my clients quite a bit of money on their medications and costs for the following year.  The changes in the insurance company coverage, their formulary and the pharmacies can be astronomical. I had a lady this year that we saved $2000 by moving her from her current plan to a more reasonable one. There is no reason to not have the review done each year.
• I also review my individual client’s insurance plan for the coming year during the enrollment period to be sure their income is correct on Covered CA, so they are not in danger of a tax penalty for understating their income thus giving them more of a tax credit and subjecting them to a tax penalty. This is what sets me apart from many Brokers. 

• I am available to meet with, conference with, or zoom with clients to go over any questions or concerns they may have. I pride myself in being available for you.

Hilgerman Insurance Solutions of Camarillo is an independent insurance agency that specializes in the senior market, while offering health insurance solutions for small businesses and individuals. We are contracted with most of the top insurance providers to offer you plans that best suit your needs, all with personal hands-on service and support. 

Our commitment is to provide expertise, friendly service along with a timely response. Please feel free to contact us today for a quote and/or no-cost consultation.   

Hilgerman Insurance Solutions
(805) 279-5482
deb@hilgermanins.com  
www.hilgermanins.com