Why agents end up shopping for their own plan
Many real estate agents work as independent contractors under a broker. In that setup the brokerage usually does not hand you a company health plan, and at tax time you get a 1099 form (the form that reports what you were paid as a contractor) instead of a W-2 (the form an employer sends an employee).
If your spouse has a job with a health plan, you may have already looked at joining it. Sometimes that works well. Sometimes the family option is more than you need, or it does not include your doctors. Compare it with a plan of your own before you decide.
When your pay arrives in lumps
Real estate pay follows closings, and closings slip. A buyer's loan takes longer, an inspection reopens the deal, a sale falls through the week it was supposed to close. When income is uneven, a plan that feels right in a strong quarter can feel heavy in a slow one.
So look past the monthly payment. Ask about the deductible, which is what you pay for care before the plan starts sharing costs. Ask about the out-of-pocket maximum, which is the most you could pay for covered care in a plan year. And ask about copays, which are fixed amounts for things like a doctor visit. A plan with a smaller monthly payment often asks more of you when you use care. Decide which one you could handle in your slowest month.
Private plans can be applied for at any time of year, so you do not have to wait for a big check to clear before you start. The carrier still decides whether to approve you, and the date coverage begins depends on the plan.
Showings, open houses and the drive between them
Your calendar belongs to your clients. Weekend open houses, evening showings and a lot of time in the car do not leave room for a weekday appointment at an insurance office. We are open on weekday evenings and on weekends, so you can talk after a showing, by phone, WhatsApp or video, or visit our Sunrise office.
If you work in more than one county, or you split your time between Florida and another state, check where a plan's network reaches. Some plans have networks that also work outside Florida. Others do not.
How a private PPO plan works
A PPO (preferred provider organization) is a plan with a network of doctors and hospitals it prefers you use. Staying in the network usually costs less. Whether a plan pays anything for out-of-network care depends on the plan, so ask. Our plans are private and medically underwritten, not ACA Marketplace plans.
Medically underwritten means the carrier asks about your health on the application. It may approve you, decline you, or approve you with certain conditions excluded. Every plan has exclusions and limitations, and it may not cover every benefit. Answer every question truthfully, because leaving something out can cause trouble with a claim later.
Who this fits, and who it may not
A private plan tends to fit agents under 65 who are in reasonably good health and have no employer plan to join. It may not fit if you or someone you want to cover has an ongoing health condition, since the carrier can decline an application or exclude that condition. Tell your advisor early and we will talk through your options before you apply. It also may not be the right move if a spouse's employer plan already fits your whole household.
Taxes: a general note
Some people who work for themselves can claim a federal tax deduction for health insurance premiums. The IRS calls it the self-employed health insurance deduction. You figure it on IRS Form 7206 and report the result on Schedule 1 of Form 1040. Whether you qualify depends on your net profit, whether you or your spouse could join an employer plan, and other facts. This is general information, not tax advice, so talk with a tax professional about your situation.