What Are Medical Insurance Brokers?

2007-03-08 10:33:40

( Insurance )



The range of products offered by health insurance coverage is very broad. To an ordinary consumer, the choices are staggering and often confusing. Understanding the differences between the products offered and getting coverage that suits you best can be difficult. An alternative to choosing your own health insurance coverage is to procure the services of medical insurance brokers.

Medical insurance brokers are also known as health insurance intermediaries. Medical insurance brokers are those who can arrange health insurance for you. Most medical insurance brokers select from a wide array of products offered by a range of health insurance carriers.

Insurance brokers are not in any way limited to health insurance. The intermediaries who specialize in other types of insurance like car and home insurance also call themselves insurance brokers. However, those brokers who offer financial coverage like life and investment insurance are often referred to as financial advisors.

If you choose to purchase your health insurance coverage through a health insurance broker, you are guaranteed specialized knowledge and experience when it comes to health coverage. They can provide help when you are dealing with claims and they can give you sound advice if some aspects of your coverage seem complicated. Health insurance brokers also make sure you do not have duplicate coverage and you are adequately covered by your health insurance.

As convenient as going through medical insurance brokers may seem, there are several disadvantages. There are a lot of products still not available to insurance brokers like international health insurance. An insurance broker may not deal with your preferred carrier and vice versa. Another disadvantage is that they may charge steep fees in exchange for their services and some do not deal with individuals.

So if you want to avail of intermediary services, choose one that is a member of a professional organization. You can also meet with the broker personally to clarify any questions you may have.


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