What does a Health Insurance Broker do?

A health insurance broker works to match a party who is in need of health insurance with an insurance policy. A person in this field typically has contracts with a range of insurance companies that allow him to sell their insurance. Since the broker does not work for an insurance company, he may be able to help his clients choose the most suitable policy rather than offering only those available from a single insurance provider. An individual in this field may not only help his customers secure traditional policies, but also find alternative options.

A person who becomes a health insurance broker may work with both individuals and businesses. He may help an individual find the right insurance policy for himself or for himself and his dependents. Typically, a health insurance broker helps an individual choose insurance that meets his needs not only in terms of the types of coverages that are included, but also in terms of cost. He may also help an individual decide how much of a deductible he can afford.

In many cases, a health insurance broker will also help an individual decide on the type of health insurance he prefers. For example, some people may prefer preferred provider organizations (PPOs), while others may opt for health maintenance organizations (HMOs). A person in this field may also help an individual choose the coverage he wants for prescriptions and dental care. In the event that a person has a pre-existing condition that makes it hard for him to secure insurance, a health insurance broker may help him to consider his options as well.

A health insurance broker also helps businesses select insurance policies to offer their employees. He may answer questions regarding various types of policies and even offer side-by-side comparisons of different types of policies. Additionally, a health insurance broker may help employers understand the steps required to set up employee health insurance plans.

The requirements a person has to meet to become a health insurance broker may differ from jurisdiction to jurisdiction. Typically, however, a person who wants to purse this career has to prepare for and pass a licensing exam. In many cases, an aspiring broker can take a course or use study guides that prepare him for taking the exam. Some jurisdictions, however, have specific pre-licensing education programs a person must complete before he is eligible to take the required insurance exam.