Did You Know That All Medicare Brokers Are Agents, But; Not All Agents Are Brokers? What Is A Medicare Broker?

Michael T. Braden, August 27, 2024 BRADEN MEDICARE INSURANCE

What is a Medicare Broker? And how are Medicare Brokers different from Medicare Agents?

MEDICARE BROKER VS MEDICARE AGENT

There are two types of Agents. A Captive Agent is contracted with only one Insurance company, meaning they are not permitted to market or discuss any other Medicare plans from any other company. The second type of Agent is an Independent Agent, typically contracted with only 1-3 companies. While a Medicare Broker, who is still technically an Agent, can represent multiple Insurance companies.

Most brokers work with 4-8 companies. At the same time, here at Braden Medicare, we are contracted with over 40 of the Top-Rated and most respected Medicare Insurance companies in the United States. This means we have access to more plans, and, beyond giving consumers more choices, it also gives you access to the lowest premiums.

Because of the relationships we have created and nurtured over the years, we have the ability and obligation to help you find the best Medicare plan to meet your needs.  We do this by listening to you, then we research and prepare quotes based on the information and insights you provide.  Our interest is to put your interests and desires front and center. We hope to earn your confidence and your trust so that we will have the honor of serving you and your family today and for the rest of your tomorrows.

HOW DO BROKERS GET PAID?

The good news is that Medicare brokers are paid by the insurance companies they represent, so there is never a cost for our help, advice, services, or expertise. You pay the same rate for your insurance if you use a Medicare Broker or if you contact any insurance company on your own.  Every company builds commissions into its premiums. There is no additional fee to enroll through a broker like us.  This means you pay nothing and receive all the benefits of our years of experience and the Training we must complete every year.  So, then everything I get from you at Braden Medicare is free? Yes, our service is completely free to you.   

WHY IS CHOOSING BRADEN MEDICARE INSURANCE THE SMART CHOICE FOR YOUR MEDICARE INSURANCE NEEDS? 

The benefit to you is enormous. Braden Medicare includes all of the back-end policy support that you cannot get directly from an insurance company, and the dedicated personal touch that our competition simply cannot or will not offer. We are here to assist you whenever you need help. Whether you are shopping for a new policy or looking for ways to reduce your premiums without losing any of your benefits, you have questions about billing or researching your Part D Prescription Drug Plans every year. We are dedicated to serving all of our clients as if they were members of our extended family. Family sticks together, and family looks out for each other's best interests.  

We happily put you and your interests first, above all else; serving you and your family is what it is all about for us.  At Braden MSI Insurance and https://www.bradenmedicare.com, we are not just passionate about what we do; we love helping our clients however we can.

Most Medicare Brokers can write a policy for you; some give you information, but I know from experience that no one else can deliver as we do at Braden Medicare Insurance.  We will always do our best to break Medicare down to simple terms and will never try to dazzle you with BS! We take pride in providing you with Tips and Insights about Medicare that make it easy to understand.  

At our core, we are teachers, mentors, and advisors. We are happy to take the time you need to understand Medicare and all its moving parts. You will also be able to help your friends and family with the knowledge and confidence you gain by working with Braden Medicare Insurance. 

HOW DO I KNOW YOU AREN'T JUST RECOMMENDING COMPANIES WITH THE HIGHEST COMMISSIONS FOR YOUR OWN GAIN?

This question is asked quite a bit; it is not only a great question, but also an honest one.

I have found that a new broker is more likely to be swayed by writing a policy with a 1% higher commission than another policy, as they are trying to build a business and maximize their revenue.  However,  when you are working with an experienced broker like www.BradenMedicare.com and Braden MSI Insurance, you will find out in short order that we are completely transparent in our approach.  We share quotes directly from the Insurance companies with you so you can see the rates for all companies.  

We understand our role as your advisors, and our goal is always to ensure you are 110% satisfied with us.  I honestly could not tell you what the commission structures are for each company we are duly licensed and contracted with.  This is because of two primary factors:

1. Medicare is a Government Program, so there needs to be complete transparency and

2. It is a very competitive market and, as such, is highly similar; each company knows what the other companies are paying. It is a very level playing field.

I can confirm that commissions for Medicare Advantage policies are roughly double those for Medicare Supplement plans.  I can further disclose that our business is about 70% Medicare Supplement/Medigap policies and 30% Medicare Advantage plans. 

Our role is that of an advisor; we listen to your wants, needs, and goals regarding your Healthcare plan.  We present the full, unedited quotes, then continue answering your questions honestly and straightforwardly. We share our thoughts and ideas whenever you call upon us, but we have no hidden agendas.

Because Medicare Supplement plans are standardized, each Plan offers the same benefits and coverage in every state.  We know from experience that price is the deciding factor for 90% of our clients, and we recognize that each private Insurance company sets prices in every state where it operates. No Broker in America can offer lower rates, as they are set by each state, not by us.  

Please feel free to contact us anytime by phone at (480) 225-1393, by text message at (480) 225-1393, or by email at mike@bradenmedicare.com. At Braden Medicare, you can see for yourself what it means to work with a company that not only cares, but they honestly do whatever they can to save you money, while always being honest, answering all of your questions, and busting their butts off to earn trust.  We are a humble group. We listen first and ask questions, and you will never feel pressured to do anything. We believe Insurance, especially Health Insurance is a personal decision. We will never speak negatively about any other Agents or Brokers. We think we have put in the time, the work, and the ongoing study hours to be better prepared than anyone else for Medicare Insurance.

BRADEN MEDICARE INSURANCE IS LICENSED IN 12 STATES

We are based in Chandler, Arizona, the 4th-largest city in Arizona and a suburb of Phoenix. In addition to servicing our awesome clients across the state of Arizona, we are also licensed in the following states:

• Florida

• Indiana

• Iowa

• Nevada

• California

• Colorado

• Michigan

• Ohio

• Oregon

• New Mexico

• Pennsylvania

• Texas

• Wisconsin

Braden Medicare Insurance Poster Describing the differences between Medicare Agents and Medicare Brokers. And, why working with a licensed independent Medicare Broker makes good common sense.