How to Medicare Brokers Make Money? – Insurance Magazine
Describe how they earn their income. Watch the YouTube video “How Medicare Brokers Make Their Earn Money?” describes the process by which they are independent Medicare brokers get paid for the services they render.
Indepedent Medicare brokers provide impartial opinions about the various options that are available to customers who have Medicare insurance. They are not licensed only by one particular company. Therefore, they’re able offer an assortment of insurance options for medical their clients.
Independent medicare brokers receive direct payments by medicare consulting companies. They are not required to add additional fees to their customers. They offer the same rates like the insurance provider because they get commission and administrative fees included in the premiums for insurance.
Customers who use an unaffiliated Medicare broker to buy the insurance plan will be paid commission. If they go direct to Medicare but they do not receive a commission, there is no kickbacks for independent brokers. But, they miss the advisory assistance that an independent broker may typically provide.