What Is a Medicare Broker and Why Should You Consider Talking to One?

If you're ready to enroll in Medicare, understanding the plan coverage and prices, and even what Medicare is going to cost you can seem complicated. And even after enrolling into Medicare, perhaps you want to ensure that the current plan you've selected is still the best fit for you.

If you're feeling decision overload, you're not alone. And that's why NCOA's Age Well Planner offers guided Medicare resources available to help. There are two options you can consider that have helped older adults thrive: State Health Insurance Assistance Programs (SHIP) and licensed Medicare brokers are two options you should consider.

What is a Medicare broker?

A Medicare broker is an advisor who represents multiple insurance companies and can help you evaluate plan options, along with helping you enroll into a plan.

What is the difference between a SHIP and Medicare broker?

SHIPs are funded by the federal government to provide free, local, objective insurance counseling and assistance for people to review Medicare coverage and plans. Unlike a broker, a SHIP counselor cannot actively enroll you into a Medicare health or drug plan. SHIPs can also help you find out about financial assistance programs you or your loved one might be eligible for.

Why should I work with a Medicare broker?

The Medicare process can be overwhelming. A licensed Medicare broker will listen to you and give you information about your coverage options that is based on your needs and preferences. Working with a trained broker can help you save time and money, ultimately helping you find the right plan.

NCOA only partners with Medicare brokers who meet our Standards of Excellence, so you can feel confident knowing that you will receive unbiased education, practical decision support, and trusted activation options.

How are Medicare brokers paid?

Typically, brokers are paid by the insurance companies they represent, with no extra fee or cost to you for enrolling in Medicare through a broker.  

The brokers we partner with are NOT compensated based on which product you choose. Their goal is to educate you on the plan(s) that best meet your needs. Because they aren’t paid based on the plan you choose, they won’t try to pressure you to purchase a specific Medicare plan.

How do I connect with a trustworthy Medicare broker?

Learn more and connect with a licensed Medicare broker that meets NCOA’s Standards of Excellence. These broker options are committed to serving your Medicare selection needs and priorities at no cost to you.