In general this is 2-Fold: First, an agent, especially an independent agent, typically has access to products from multiple companies and that flexibility accompanied by their knowledge can help you pick the right plan for your needs. Secondly, after the sale and when coverage is secured, there are often times that a client needs help with policy service issues and/or claims and your agent can be invaluable in these cases.

This is a great question and the short answer is, it depends. Most common enrollment into a Medicare plan is related to one’s 65th birthday, but there are exceptions. Some individually become eligible prior to age 65 due to disability – typically an individual must be on disability 24 months before they obtain Medicare. Also, some individuals who continue to work past age 65 may voluntarily delay part of their Medicare coverage.

A Medicare Supplement helps cover the ‘Gaps’ (deductibles and co-insurance) that are present in Original Medicare Parts A&B. Medicare Supplements do not provide Part D (Rx) coverage. Medicare Advantage plans, often known as Medicare Part “C”, are plans that serve as a substitute for original Medicare Parts A & B and they often include the Part D (Rx) coverage. They are offered by private/commercial companies that must meet strict guidelines of CMS (Centers for Medicare and Medicaid Services). Medicare Advantage companies receive compensation from the federal government to provide all Part A and B benefits to enrollees.

An HMO is a Health Maintenance Organization and typically requires members to go to a specified list of ‘In-Network’ providers only; a PPO is a Preferred Provider Organization and its members must also go to a specified list of ‘In-Network’ providers, but the members can also go to providers out of network for higher out of pocket expense.

This is highly variable and it depends entirely on the individual’s needs and more importantly the family needs. Certain questions must be addressed, such as: How much is my mortgage and how long will I have a mortgage? Do I have children that will need to go to college? Do I have to be concerned with protection for my business if I were to die? Do I simply want coverage for my final expenses, etc. A discussion of these types of needs will be addressed before a good decision can be made. A good agent can help to take the guesswork out of this process.

If you are under 65, you have a couple of options depending on your circumstances. If you only need coverage for a short time prior to the time another insurance plan takes effect (age in to Medicare, new employer coverage, etc.) you can enroll in a Short Term plan to fill your coverage gap. Penalties can occur with these plans, so discussing this option with an agent is very beneficial.

A HSA is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a high-deductable health plan (HDHP). The funds contributed to an account are not subject to federal income tax at the time of deposit. If you are well under 65 and do not employer benefits, your coverage will fall under the Affordable Care Act (ACA also known as Obamacare). There are plans that offer essential benefits and they do cover pre-existing conditions.

With the Affordable Care Act, you have to get health care coverage unless you qualify for an exemption. However, you may be eligible for financial help to pay for your insurance. This help would be in the form of tax credits toward your monthly premium on all plans, except Catastrophic Plans, or cost-sharing subsidies on Silver Plans when you buy on the Health Insurance Marketplace. The amount and type of financial aid your receive is based on your income, family size and where you live.

When you put off enrolling in a health plan, you may have to pay a penalty – unless you qualify for an exemption. Penalties are based on your income and increase each year for inflation.