How to Be a Health Insurance Broker
A health insurance broker is a qualified professional who is able to represent different health insurance providers. Having access to more than one provider allows them to offer their customers the best policy for their needs. As a health insurance broker, you can authorize and write policies for traditional and alternative health care coverage. There are several things to consider in becoming a health insurance broker.
Other People Are Reading
Instructions
-
-
1
Research your specific state to determine what licenses, and possible exams, are required to receive your credentialing to be a health insurance broker. Each state might require a specific health insurance license. You can locate your state's secretary of state by going to "SOS.YourStatesInitials.com." (For example, for California, go to SOS.CA.gov.) You can also check your state's Department of Insurance page. Once you find the proper site, you can search for a broker license to sell health insurance.
-
2
Check with local schools to see if there are online, physical classes, or exam books you can study from to ensure you're successful if you need to take a test to become licensed in your state. You can check out schools in your local area by visiting your state's Department of Insurance page or sites like AbTrainingCenter.com. Also, check with your local community colleges as they may offer continuing education classes for licensing preparation as well. UsCollegeSearch.com is a good resource to locate colleges in your area.
-
-
3
Research and apply to any health insurance providers you would like to represent. Make sure the insurance companies you decide to work with have a solid reputation--and a wide variety of policies to choose from. Alternative medicine and treatments like holistic medicine and acupuncture, as well as behavioral therapies like life coaching, are becoming increasingly popular. Make sure you offer this as well to your customers. Each carrier could have a different process of approval and time constraints, so take that under consideration when applying.
-
4
Establish your business successfully. Research establishing your business as a corporation, LLC, or sole proprietorship. Speak with a certified public accountant and/or a lawyer to determine which business entity is best for you. Many shy away from being a sole proprietor, because if you are ever sued, your personal assets may be seized.
-
5
Purchase any equipment needed for the start-up. This can include a computer, high-speed Internet, comfortable chair, desk, fax machine, and printer.
-
1
Tips & Warnings
Advertise to your customers. Sometimes your insurance carrier will advertise your business to your local customers. Consider setting up a website to showcase your services. You can also place ads in local publications and places where people would most likely be interested in insurance. Network and join your local Chamber of Commerce. Locate any trade organizations that allow you to collaborate with other health insurance brokers to determine new ideas to expand your business.
Always stay up-to-date with new changes in the health care industry. The wider variety you can offer to your customers, the more successful you will be in meeting their needs. Also, college seniors getting ready to break into the workforce make a great target market for insurance.
