While searching for Marketplace plans, you may often wonder if it’s cheaper to get health insurance coverage through an agent. Here’s what you should know.
Purchasing health insurance through an agent is not cheaper than shopping the ACA’s Marketplace and comparing prices on your own.
The difference between brokers and agents
First, it’s crucial to understand the differences between a health insurance broker and an agent.
A broker will sell health insurance plans to consumers by partnering with several insurance companies. This often includes programs available through Marketplace health insurance.
On the other hand, a health insurance agent only works with one insurance company and sells its products and services.
When it comes to enrolling in the Marketplace plan, a broker or agent will not be able to offer you lower rates than what you can get on your own by visiting the health government portals or InsuranceShopping.com. Consumers can often obtain low-cost health insurance directly through the ACA’s Marketplace. Whether you shop for health plans independently or with an insurance agent, you’ll see different cost savings options available to you. These cost savings on Marketplace plans are due to Obamacare subsidies and premium tax credits readily accessible to those who qualify. As a result, the individuals who buy the Marketplace plans alone can obtain low-cost health insurance coverage. In reality, most individuals we enrolled at InsuranceShopping last year paid $36 per month or less. Click here to read our free step-by-step guide to enlisting in Marketplace health insurance.
When to shop for Marketplace plans
You can purchase the Marketplace health plan during the Open Enrollment Period (from November 1 to December 15). You can also register in a health plan outside the open enrollment window if you have a qualifying life event, such as moving, having a baby, or losing coverage that triggers the Special Enrollment Period.
Through InsuranceShopping, you can shop for health insurance plans, compare prices, and check your eligibility for subsidies. You can also contact our insurance agent at +1 855-913-1570 or enter your postal code here to see what health options are available in your state.