Deciding whether to use a broker when getting a health insurance plan is personal. If you want to purchase Obamacare from the Affordable Care Act (ACA) Marketplace, you don’t have to use an agent or broker. The Marketplace allows anyone who is eligible to shop for insurance coverage on their own, without any broker.
However, some people might want to use an insurance broker or agent to help them compare plans or coverage’s to determine the best health insurance coverage.
When To Use A Broker
You need a health insurance broker to buy coverage or plan outside the Marketplace. You’ll need a broker if you want to purchase a non-Obamacare plan. You will also need an insurance broker or agent if you want to buy a non-ACA-compliant insurance plan. A health insurance broker has contracts with different health insurance companies to help them sell plans.
Remember that you won’t be eligible for cost savings if you purchase a non-Marketplace plan. Therefore, when getting a non-Marketplace plan, it’s crucial to read through the fine print before buying. Whether you are buying through private or Marketplace insurance, reputable brokers do not charge policyholders for their services because they earn a commission on the health insurance plans they sell.