Being self-employed certainly has its perks and privileges. Still, when it comes to finding Health Insurance for Real Estate Agents, it can often mean having to be extra creative and opt for alternative healthcare coverage solutions, which has lead to agents being adequately covered today more-so than in the past. Yet, with multiple options, it’s not always simple to find the right solution for you without guidance from an insurance professional.
National Association of Realtors Insurance Marketplace (NAR)
Most brokers in the US will inform their self-employed clients, like real estate agents, to be on a local Realtor® board. If you are a member of the NAR, you can use your NAR ID to get through to the Realtors Insurance Marketplace, created to help agents find and purchase healthcare insurance.
Advantages of Using the Realtor’s Insurance Marketplace
- Affordable plans
- No contract
- Guaranteed Acceptance
- You can select the provider
- Obtainable PPO network options in qualifying states.
The Affordable Care Act Marketplace Plans for Real Estate Agents
Finding affordable insurance is often a challenge with the available Health Insurance options for Real Estate Agents, and other self-employed professionals through the Affordable Care Act (ACA). Although the ACA may have helped many self-employed agents acquire health insurance, the rising cost of premiums and tighter restrictions on federal tax credits sometimes forces an agent to forgo or delay medical care for themselves and their families in order to manage or lower costs.
Alternative Health Coverage Solutions
Group Health Plans
One alternative approach many real estate agents and other self-employed individuals are using are Group Health Plans. Expanding “Association Health Plans” or AHP allows small businesses to band together as a group to purchase health insurance coverage in the large group market, similar to larger employers. Expanding AHPs allows more small businesses to take advantage of the benefits of Group Insurance and can sometimes avoid some of the ACA regulations and potentially bring down the cost of coverage significantly!
Short Term Medical
Another option that many self-employed workers turn to would be Short Term Medical Insurance (STM). Designed to be a standard temporary medical policy, can now last from just a couple of months and up to 3 years minus 1 day. Some states still only allow 6 months of coverage at a time, however you can guarantee renewal if you choose. Short Term Medical policies offer quality insurance for those who need coverage outside of Open Enrollment, those who are looking for temporary coverage, or those who would like a lower-cost option.
If you are a Real Estate Agent or another king of Self-Employed Professional and are interested in hearing more information about the options you have to obtain quality Healthcare Insurance, please contact one of our local licensed agents! We will be happy to assist you in navigating your best options and make the process much easier!
Call us today at (623) 889-7600 or fill out the form below! You can also find our information through the National Association of Realtors website HERE.