How to Choose a Medicare Agent or Broker

Choosing Medicare coverage is an important decision. Choosing the person who helps you make that decision matters, too.

A Medicare agent should do more than show you a few plans and ask which one sounds good. The relationship should start with learning about you: your doctors, prescriptions, budget, current coverage, travel habits, concerns, and what you want from your healthcare coverage.

So, how do you know whether you're talking to the right Medicare agent?

Here are some things we think you should look for, whether you're considering working with us or anyone else.

Start With an Independent Medicare Agent or Broker

You will see the words "agent" and "broker" used somewhat interchangeably in Medicare conversations. In general, an agent is licensed to represent one or more insurance companies, while "broker" is commonly used for an independent agent who works with multiple companies and can compare their options.

There is a simpler and more meaningful question to ask:
Does this person represent one insurance company, or can they compare coverage from multiple insurance companies?

An independent Medicare agent or broker works with multiple insurance companies rather than being limited to one. That can give them a broader range of options to consider, but independence alone doesn't tell you whether someone is thorough, experienced, or a good fit for you.

Pay Attention to the Questions the Agent Asks You

This may be one of the easiest ways to evaluate a Medicare agent.

If someone starts recommending coverage before they know much about you, how could they possibly know whether that recommendation fits?

Before making a recommendation, an agent should be asking questions such as:

• Which doctors and specialists do you want to continue seeing?
• What prescription medications do you take?
• Which pharmacies do you prefer?
• Do you spend significant time away from home or travel frequently?
• Do you have coverage through an employer, retiree plan, VA benefits, TRICARE, or another source?
• What healthcare expenses are you comfortable paying yourself?
• What matters most to you about your coverage?

Not every conversation will involve exactly the same questions. That's the point.

Your situation should lead the conversation. The recommendation should come later.

A Good Medicare Agent Should Be Willing to Explain Why

Getting an answer isn't enough. You should understand why the agent arrived at it.

If an agent recommends a particular direction, ask why. What did they learn about you that made that option worth considering? What alternatives did they evaluate? What tradeoffs should you understand before making the decision?

You don't need to become a Medicare expert.

That's one of the reasons you're talking to an agent in the first place.

But you should understand the reasoning well enough to make an informed decision for yourself. A good agent should be able to explain complicated Medicare subjects in ordinary language, answer your questions, and clearly connect the recommendation back to the things you told them matter to you.

Be Careful When the Recommendation Seems to Come Before the Conversation

People sometimes ask why Medicare brokers "push" Medicare Advantage or another type of coverage.

We think there's a more useful question:

Did the agent decide what you needed before learning enough about you?

There isn't one Medicare coverage strategy that fits everyone. An agent shouldn't approach every appointment determined to steer every person toward the same type of coverage.

Listen to the order of the conversation.

Questions first. Evaluation second. Recommendation third.

If it seems to be happening in the opposite order, it's reasonable to ask why.

How Much Does a Medicare Agent or Broker Cost?

For Medicare plans, you generally don't pay an agent or broker directly for helping you compare coverage and enroll. Agents are typically compensated by the insurance company when they assist with an enrollment.

At Simple Retirement Benefits, there is no broker fee to you for our Medicare services.

Compensation is also a fair subject to ask an agent about. Someone you're considering working with should be willing to explain how the relationship works.

Find Out What Happens After You Enroll

Choosing coverage is never the last time you'll have a Medicare question.

Ask what happens after enrollment.

Will you be able to contact the same agent again? Will they still answer questions when you aren't shopping for new coverage? Can they help you review your situation when your needs or available options change?

There is a big difference between someone who helps you complete an enrollment and someone who intends to remain available afterward.

This is also a good place to ask how involved the person you're speaking with actually is in the day-to-day operation of the business. Has the relationship been handed off to a service department, or are you still able to reach the person who earned your trust in the first place?

At Simple Retirement Benefits, Mark is still directly involved in the daily operation of the brokerage and personally handles client enrollments. When questions come up later, that relationship doesn't disappear because the application has already been submitted.

Does Your Medicare Agent Need to Be Local?

Not necessarily.

We built Simple Retirement Benefits in Austin and regularly work with people throughout Central Texas, including Round Rock, Cedar Park, Georgetown, Pflugerville, Leander, Hutto, Taylor, Manor, and the surrounding communities. We also work with clients by phone across the 18 states where we're licensed.

A local agent can bring useful familiarity with the healthcare environment in your community. But proximity alone doesn't make someone the right agent.

Whether your agent is five miles away or five hundred, look for someone who is properly licensed where you live, understands the market available to you, asks thorough questions, communicates clearly, and remains accessible when you need help.

How Do You Know You've Found the Right Medicare Agent?

You should feel like the agent knows more about you at the end of the conversation than they did at the beginning.

You should know why a recommendation was made. You should have had opportunities to ask questions. You should understand whether the agent represents multiple insurance companies. And you should know who you'll call if you need help later.

Most importantly, you shouldn't feel rushed into somebody else's answer.

If you're approaching 65 and aren't ready to speak with an agent yet, our Turning 65 Medicare Review Kit can help you organize the questions and information you'll want before that conversation.

And when you're ready to talk, Mark and Simple Retirement Benefits are here to help.

No call center. No broker fee. Continued support long after your enrollment is complete.