It’s challenging for anyone who isn’t covered as an employee to find affordable health insurance, and it’s one of those things every real estate agent hates to pay for and research. Finding the right health insurance plan can be an aggravating experience, so we decided to break down the different places you can look for healthcare options.
Affordable Care Act
When looking at ACA plans, many real estate agents face a challenge: On one hand, ACA offers health insurance where agents might otherwise be unable to find coverage. On the other hand, rising health insurance rates and less available subsidies—especially those who surpass a certain income level—make it challenging to find affordable health insurance options. The Affordable Care Act site offers a quick start guide and allows you to see medical plans and prices, telling you how much you can save on real estate health insurance.
The most important thing to pay attention to through this provider is the metal rating. For example, Platinum plans will pay for roughly 90% of your costs, while Bronze plans will only pay for approximately 60%. The more out-of-pocket costs covered by the insurance companies, the higher the monthly premiums tend to be.
Association Group Insurance Plans
If you are a member, the National Association of REALTORS is a great place to look for several different healthcare options, including…
- REALTORS® Vision Insurance provides a PPO and non-PPO option for NAR members and their families.
- Members Supplemental Health Plans can be combined with other major medical health insurance plans to provide financial aid for out-of-pocket expenses and other services that traditional insurance might not cover.
- Short-term insurance ranging from 30 days to 6 months can serve as coverage to avoid gaps between long-term policies.
- Qualified Health Plans that meet the mandates of the Affordable Care Act through major insurance carriers.
- Supplemental Medicare insurance options for Medicare-eligible NAR members.
- REALTORS® Dental Insurance that provides coverage for dental expenses exclusively for NAR members and their families.
These can be found here.
Private Market Insurance
If an agent wants to, they can talk to whoever provides them their car or home insurance. With bundling, you may be able to save money. One perk of using the private market to find health insurance for real estate agents is the high level of control you have over your plan. In most cases, you’re not locked into a time frame of when you have to purchase private insurance.