How Do Realtors Get Health Insurance

A realtor’s life is fast-paced, with frequent interactions and networking, but health insurance can be a concern without corporate benefits.

Realtors often seek health insurance options.

Choices in health insurance for real estate agents

Consider your personal circumstances to see what types of realtor health insurance may be available to you.

Some common options in realtor health insurance are listed below.

Health insurance for realtors
Health insurance for realtors: Photo source (Reddit)

Agency-sponsored group health insurance for realtors

If you work at a real estate agency, they might offer group health insurance.

Check if the agency provides health coverage for realtors and gather details if it’s available.

  • Check enrollment timing: Group health plans typically allow new employees to enroll within 2-4 weeks of employment. Annual enrollment happens at a set time each year.
  • Assess plan benefits: Evaluate the realtor health insurance based on your healthcare needs. Does it cover most medical services, prescription drugs, dental, or vision care? Consider if you’ll utilize these benefits and check for factors like deductibles and network types (PPO or HMO).
  • Determine monthly costs: Find out your monthly premium for coverage.

Agency-sponsored group health insurance can work if you meet enrollment criteria and it meets your needs and budget.

If you’re uncertain about pricing or prefer independence, consider other health insurance options for realtors. eHealth can assist in comparing coverage and costs.

Association health insurance for realtors

Realtor associations might offer health insurance to their members.

If available, assess these plans with the same factors mentioned earlier.

While convenient for members, be aware of the plan’s terms and funding.

Association-affiliated health insurance can be less stable due to frequent insurer changes, as participation can be unpredictable.

Individual health Insurance for realtors

Consider individual or family health insurance as an alternative to group coverage. It offers cost control and flexibility.

You can buy ACA-compliant plans on marketplaces, state exchanges, or through private platforms like eHealth.

These plans provide comprehensive coverage, with potential tax subsidies if purchased on the marketplace.

Open enrollment is typically from November 1st to December 15th for January 1st coverage.

Outside open enrollment, you can get an ACA-compliant plan if you have a qualifying life event like marriage, divorce, childbirth, or losing insurance involuntarily.

Purchasing ACA-compliant individual plans offers several benefits:

  1. Diverse plan options tailored to your needs.
  2. Plans are categorized by metal (platinum, gold, silver, and bronze) for easy comparison, with silver and bronze being popular for affordability.
  3. Flexibility to switch plans annually as your needs change, and during special enrollment periods for specific circumstances.

However, if you can’t afford individual marketplace plans and don’t qualify for subsidies, consider other realtor health insurance options.

Contact an eHealth agent for information on subsidies and finding the right plan for you.

Short-Term Health Insurance

Consider short-term insurance in your state.

These plans often have lower premiums than ACA-compliant ones and can cover you for 1 month to 3 years based on state rules.

Short-term policies offer less coverage and may have wait periods or deny pre-existing conditions.

They’re useful during transitional phases like job changes or agency switches.

Medical Indemnity Insurance

Medical indemnity plans offer fixed cash benefits for specific illnesses or injuries but lack comprehensive coverage.

They are cost-effective but not ACA-compliant, making them a temporary realtor health insurance option.

Note that some states impose penalties for not having ACA-compliant insurance, even though the federal penalty has been repealed.

Check your state’s regulations if you’re considering short-term or medical indemnity plans.

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