Sometimes people believe that they can get a better deal by purchasing their insurance directly from the company. With many products this idea works. When you buy furniture or shoes directly from the factory, you may get a lower price than you would otherwise.
Insurance is different. The rates for individual health insurance in Connecticut are filed with the state. This is true of other types of insurance and other states as well. The insurance company cannot give you a discount if you purchase directly from them. However, if you purchase directly from your insurance company, you may pay more because you may fail to shop around.
Buying your policy directly from Anthem Blue Cross or Connecticare will more likely result in your paying a higher price than you would have if you purchased from a broker who works with several companies. A good broker will automatically shop around for you and suggest plans that offer you the best value.
An independent insurance broker is not an unbiased source of information. However he or she is a less biased source of information. A broker is likely to get a similar commission regardless of which company’s policy you purchase, so long as you purchase from him or her. This removes much of the incentive to steer you to one company over another based on the broker’s self interest.
Insurance policies, especially medical insurance policies are complex and comparing them is even more complex. None of the health insurance policies in Connecticut offered by different companies are exactly the same. Making an apples to apples comparison is difficult. It is more like comparing apples to applesauce. A broker can help you here. He or she can save you a lot of time and aggravation.
I hope that you will consider our agency if you are in the market for health insurance in Connecticut. We work with all of the insurance companies offering this type of coverage in our state. This includes all the PPO, HMO, POS, HDHP, HSA and major medical plans offered by all companies approved by the state of Connecticut for private health insurance.