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Is A Medicare Insurance Broker The Best

Updated: Oct 28, 2023

Medicare Insurance Broker The Best

Choosing insurance can be complicated, especially when it comes to Medicare. With all the different plans, benefits, and costs, it's easy to feel overwhelmed. Many people consider working with an insurance agent or broker to help navigate their Medicare choices. But how do you know if a Medicare broker is your best option? This article will explore what a Medicare broker does, key factors to consider when working with one, and ultimately whether a broker is the right choice for you.

What Does a Medicare Broker Do?

A Medicare broker, also known as an agent, is a licensed professional who can advise you on Medicare Plans and help you enroll. They act as an intermediary between you and insurance companies. Some key services Medicare brokers provide include:

  • Consulting with you to understand your specific needs and situation related to Medicare insurance. This helps them recommend plans that are a good fit.

  • Researching, explaining, and comparing different Medicare Plan options on your behalf. This includes parts A, B, C, and D, as well as supplemental Medigap Plans.

  • Acting as your representative in discussions with insurance companies. They can answer questions and facilitate the enrollment process.

  • Assisting with paperwork, applications, and any issues throughout the process. Their expertise helps ensure everything is done correctly.

  • Staying up-to-date on Medicare changes, updates, and requirements. This keeps you informed of anything that affects your coverage.

How Brokers Get Paid

Medicare brokers typically earn commissions from insurance companies after you enroll in a plan. The insurance company pays this percentage of the premium cost. Some key points:

  • Brokers may be "captive," meaning they only work with plans from a single insurance company. Others are "independent" and can represent multiple companies.

  • Independent brokers may have access to more plan options to find you the best fit. Captive brokers are limited but may have more in-depth knowledge of their company's plans.

  • Ask upfront how a broker is compensated to understand if they receive incentives to sell certain products.

  • Brokers must disclose their commission to you if you request it.

  • Some brokers charge fees for their services instead of or in addition to commissions.

Are Medicare Insurance agent the Best Choice? Key Factors

When weighing whether to use a Medicare broker, consider these key factors:


A good broker has extensive training and understanding of Medicare and the different plans available in your state. They save you time researching everything yourself. Look for certification from organizations like the National Association of Health Underwriters.

Choice of Plans

Independent brokers have contracts with multiple insurance carriers. This gives you access to a wider range of plan options, increasing your chances of finding the optimal fit. Captive brokers work with only one provider so they present fewer choices.

Impartial Guidance

Because independent brokers work with multiple companies, they can give unbiased advice on which plan best meets your needs. There are no incentives to steer you toward a particular insurer. Captive brokers only represent products from their contracted company.


Working with a broker is typically free to the consumer. They earn commission from the insurer after you enroll. But some do charge fees, so clarify any costs upfront.

Ongoing Support

A broker provides continuing support after you enroll. This includes help managing billing questions, paperwork, and issues that come up. They act as your advocate, saving you time handling healthcare plans.

Alternatives to Brokers

If you decide not to use a Medicare broker, here are some other options:

  • Do it yourself - You can research plans, compare costs and benefits, and enroll directly through without a broker's help. This requires more effort but avoids any broker commissions.

  • Medicare consultants - Medicare consultants provide personalized advice and recommendations on plan selection but do not actually enroll you themselves. Fees apply.

  • State health insurance assistance programs (SHIPs) - Every state has a SHIP that provides free Medicare counseling, information, and enrollment assistance. They do not sell or earn commissions on plans.

  • Doctors and healthcare providers - Your doctors may have insight into which Medicare Plans they accept and recommendations based on your health profile.

  • Friends and family - People you know who have Medicare Plans can share their experiences and advice. But take it as just one data point.


Working with a Medicare broker has advantages thanks to their expertise and ability to simplify the complex process of choosing and enrolling in a plan. They provide valuable support through the transition onto Medicare. Independent brokers who represent multiple carriers may provide the most unbiased guidance. Just be aware that brokers earn commissions from your enrollment, so conflicts of interest are possible. Thoroughly vet any broker you consider and clarify their compensation structure. Understand there are also alternatives like state Medicare assistance programs if you wish to avoid broker commissions. Overall, a broker can provide significant help navigating Medicare options, but ensure you find one who will represent your best interests.

We’re Here to Help

You do not have to spend hours reading articles on the internet to get answers to your Medicare questions. Give the licensed insurance agents at Lane Financial Strategies a Call at (804) 897-2170. You will get the answers you seek in a matter of minutes, with no pressure and no sales pitch. We are truly here to help.


Is a Medicare insurance broker the best?

Choosing a Medicare insurance broker or agent can be a beneficial decision when it comes to finding the right Medicare Plan for you. Brokers and agents have expertise and knowledge about the various Medicare options available and can help guide you in making an informed decision.

How can a Medicare agent or broker help me?

Medicare agents and brokers can assist you in understanding and navigating the complex world of Medicare. They can provide you with information about Medicare coverage, Medicare Advantage Plans, prescription drug plans, and Medicare Supplement insurance. They can also help you enroll in Medicare and find the best plan that suits your needs.

What is the difference between a Medicare broker and a Medicare agent?

The terms Medicare broker and Medicare agent are often used interchangeably. Both refer to professionals who are knowledgeable about Medicare and can assist individuals in finding the right Medicare Plan. Whether you work with a broker or an agent, their goal is to help you navigate through the various options and find the best coverage for your specific needs.

Can a captive agent and brokers help me with Medicare?

A captive agent is an insurance agent who works exclusively for one insurance company. While they can help you with other insurance needs, they may not have access to a variety of Medicare Plans from different insurance companies. It is often recommended to work with an independent broker or agent who can provide you with options from multiple insurance companies.

How do I find the right Medicare Plan?

Finding the right Medicare Plan involves assessing your healthcare needs, budget, and preferences. A Medicare broker or agent can help you evaluate different plans and coverage options based on your specific requirements. They can provide you with information about the insurance companies they represent and guide you in selecting the plan that best fits your needs.

What is the role of brokers and agents in Medicare?

Brokers and agents play a crucial role in enrolling people in Medicare Plans such Medicare Part A B D and Medicaid services. They act as intermediaries between individuals and insurance companies, helping people understand the different options available, enrolling them in Medicare, and ensuring they have the right coverage.

How do brokers receive compensation?

Insurance brokers receive compensation in the form of commissions from insurance companies when they successfully enroll individuals in their Medicare Plans. This commission is typically based on the premium paid by the individual for the selected plan.

Can a broker help me find the best Medicare Plan?

Yes, a broker can help you find the best Medicare Plan for your needs. They have access to information about different insurance companies and the plans they offer. By understanding your specific requirements, they can provide you with options and guide you in selecting the plan that provides the coverage you need at a cost you can afford.

Should I work with an insurance broker or agent?

Whether you choose to work with an insurance broker or agent depends on your personal preferences. Both brokers and agents have the expertise to assist you in finding the right Medicare Plan. However, according to centers for Medicare brokers may provide you with more options as they can work with multiple insurance companies. It is advisable to consider your specific needs and discuss with both brokers and agents to make an informed decision.

Can a Medicare broker or agent sell Medicare supplement insurance?

Yes, Medicare brokers and agents can sell Medicare Supplement insurance, also known as Medigap. Medigap Plans are designed to fill the gaps in Medicare coverage, and brokers and agents can provide you with information on various Medigap Plans and help you choose the one that suits your needs.

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