The majority of real estate agents are independent contractors of their real estate firms. As an independent contractor, many typically don’t have access to traditional employer-provided benefits, such as health insurance.
Finding affordable health insurance can be a challenge for many self-employed real estate agents. Some have the opportunity to buy into health insurance through their brokerage, a family member’s plan, or the professional organization, National Association of Realtors. However, others turn to the Affordable Care Act (ACA), which provides health coverage for those with low to moderate incomes.
Affordable Care Act
People who aren’t eligible for insurance that is provided by a large group employer, individual health insurance is a type of policy individuals can purchase for themselves for their family.
The ACA aims to provide cost-effective, quality individual and small group insurance coverage (plans for small businesses or startups) for many who had previously been uninsured.
Provisions included in the ACA were intended to do the following:
- Expand access to insurance
- Increase consumer protections
- Emphasize prevention and wellness
- Improve quality and system performance
- Expand the health workforce
- Curb rising health care costs
As a result of the ACA, more health insurance options are available to independent contractors like Real Estate Agents.
Health Insurance Options
People can purchase health insurance that complies with the Affordable Care Act (ACA) at ACA health exchanges referred to as the Marketplace. They can choose from a range of government-regulated and standardized health care plans offered by the insurers participating in the exchange. You can find a marketplace in your state at healthcare.gove or contact us directly at Group Plans Inc by calling (623) 889-7600 to learn more information on how you can obtain comprehensive and affordable insurance in Arizona as a realtor or real estate agent!
Short Term Medical plans and Group plan options would be another route to obtain Health Insurance as a realtor.
It is always a good idea to get a second opinion from an independent insurance broker. They are impartial, and they may be able to connect you to other group insurance plans. At a minimum, you will know if the insurance plan you choose is right for you.