Experience Brokers Are The Key Component For Medicare Information

Most seniors looking at the Medicare market, whether they are new to Medicare or not, are confused by the sheer number of plans offered in each market and their lack of knowledge of Medicare.

Let’s face it, Medicare is complicated. The choices are many and very confusing to seniors. Having a knowledgeable broker to explain the different plans is a needed option. Yet, the insurance companies are always looking for ways to eliminate the broker or agent. Their reasoning is simple; if I don’t pay a broker or agent I can make more money for the company. The major player in our market just tried it and four days later pulled the ad directing seniors to seek answers directly from the carrier.

Look at it from the senior’s point of view. In Clark County, NV there are 84 different options. Medicare brokers and agents must comply with extensive training which in my case consumes at least a couple of weeks each July. Brokers and independent agents must take courses each year to prove their knowledge of Medicare first by taking a test from AHIP (American Health Insurance Plans) that cost the brokers about $185.00 annually. Once we pass with a 90% score or better, we then must go to each insurance company and read their material and pass their tests with an 85 or 90% depending upon the insurance carrier. Then we are ready to sell Medicare.

If Medicare was so easy to understand why are there so many tests to take and pass to sell these plans? No other plans have that amount of testing and review, except Medicare. Life or underage health insurance doesn’t. Property and Casualty have testing but not as severe. Yet, Medicare does and that is because the government wants it that way as these requirements are government led. No one in the government will admit it but it is the truth. So, Medicare brokers live with this annually to serve the senior community.

Insurance carriers are doing everything they can to eliminate brokers, and independent agents form selling their products because they save the commissions and increase their bottom line. Corporate greed at its finest.

First, they stop paying commissions on standalone drug plans. Then they try to eliminate a series of MAPD plans from paying commissions, yet they fail to understand the average senior cannot comprehend the complexities of Medicare and need the help.

Having a broker or independent agent helps the insurance carrier by not placing a client in a plan that will not work for them due to doctors not in network or medications not on the plan.

Almost all independent brokers or agents talk to the senior to understand their needs both from which doctors they use and what medications they take so we can find the best plan for them. With 84 plans in Clark County, the broker or independent agent must know each plan benefits so they can place the senior in the best plan for them. Since the commissions are the same for all MAPD or standalone PDP plans the broker is not swayed by higher commissions. There are some standalone drug plans and a couple of MAPD plans that do not pay commissions. I will place the client in a plan with no commission if it is in their best interests. I also will not tell them I’m not getting paid. The frequency of this happening is admittedly low, but it does happen. As a committed broker for over 23 years, I will not compromise my integrity by only placing seniors in a plan with commissions versus plans without commissions. If I do place a client in a non-commissionable plan, I will not tell them that.

Being a broker has been an enjoyable profession, and I cannot help seniors if I am not honest with them by finding them the best plan for their medical needs. I do not like, not getting paid by that’s life and if carriers are paying commissions, I can make a living.

I hope this information is useful and if anyone has questions, please contact me via phone or email and I will respond quickly.

Also, you may want to take a look at Medicare 2025 Information. 2026 Medicare Information coming soon.

The Barend Agency Inc.

Len Barend, Broker

Cell:702-250-2200