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How do real estate agents get health insurance benefits?

Daniel Walker
Licensed Insurance Agent for 15 Years

UPDATED: Mar 19, 2020

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The lowdown...
  • There are several different ways that real estate agents can get health insurance benefits.
  • The most common options include getting health insurance through an employer, buying a private health insurance policy, and getting on their spouse’s health insurance.
  • The costs of health insurance for real estate agents vary depending on the option they choose.
Many aspiring real estate agents, and even some current real estate agents, are wondering how they will get a good health insurance policy. Many health insurance policies are not geared towards people who are self-employed, as many real estate agents are.

However, there are several different easy ways that a real estate agent can get a good health insurance policy. These include working for a real estate agency, buying a private policy if you’re self-employed, getting government health insurance, or getting on a spouse’s health insurance.

To learn more about how to get a good health insurance policy as a real estate agent, read on. Keep in mind that the methods discussed in this article are only some of the ways that you can get a policy if you’re a real estate agent. If there is another option works better for your situation, do not hesitate to take it.

The Importance of Health Insurance Benefits

adobestock_55566404-1600x1600Health insurance benefits are just as important for real estate agents as they are for everybody else. In this day and age where medical costs are so expensive, it is absolutely essential to have health insurance coverage.

Also, it is currently the law that everyone must have health insurance coverage. It may be a pain trying to figure out how to get coverage if you’re working as a real estate agent, especially if you’re a freelancer, but it is absolutely necessary. Don’t try to go without health insurance coverage.

Getting Benefits Through a Real Estate Agency

While most people think of real estate agents as being self-employed, a large percentage of them are actually employed by real estate agencies.

Most of these real estate agencies will offer health insurance benefits to the agents that work for them.

The number of new agents that work for real estate agencies is very high. Most of the agents that work freelance are at a period of time in their careers when they can afford to purchase a health insurance plan privately. To learn more about purchasing health insurance privately as a real estate agent, see below.

Self-Employed Real Estate Agents

While many real estate agents are actually employed by an agency, there is a large percentage of agents that are self-employed. These real estate agents may have a bit of a harder time finding a health insurance policy.

However, it can still be fairly easy to get a policy for the self employed. All you have to do is compare health insurance quotes online and purchase a policy yourself. If you meet certain income requirements you may even qualify for a federal tax credit that will partially subsidize your plan.

Purchasing Health Insurance Online

Dollarphotoclub_82337319-1600x1600These days, it is fairly easy to purchase health insurance online. All you have to do is compare quotes and find the policy works best for you. Remember, you should not just get the cheapest policy. You want to make sure that you get good coverage as well.

There is a wide selection of plans available online, so you should be able to find the plan that meets your requirements for both budget and coverage. Keep in mind that you may be eligible for large tax credits on your health insurance policy due to the Affordable Care Act.

To get these tax credits, you have to meet certain income restrictions. Make sure to check and see what these income restrictions currently are, as they change frequently.

Getting Government Health Insurance

If getting insurance through a real estate agency or purchasing private insurance yourself are not options, you may want to look into getting government insurance. Medicaid is the most common type of government insurance that real estate agents choose. Keep in mind that Medicaid has very strict income requirements. It is best for

It is best for young real estate agent that are just starting out and who are not making a great deal of money yet. Most real estate agents that go with Medicaid look at it as a temporary solution until they can afford a more comprehensive health insurance policy.

Getting On Your Spouse’s Health Insurance

AdobeStock_65977052-1600x1600 (3)The best option for your situation may be to get on your spouse’s health insurance. Obviously, this is not an option if you are not married. However, if you are married and your spouse has health insurance through their job, you can always go on their policy.

The cost of their premiums will go up once you are added, but it will be cheaper than having two health insurance policies. Many real estate agents that are offered health insurance through their agencies still choose to go on their spouse’s policy if they can get a good deal. Do not rule out this option.

Costs of Health Insurance for Real Estate Agents

The cost of health insurance for real estate agents can vary widely, just as they can for people in other occupations. Generally, people who are able to go on their spouse’s health insurance have the lowest premiums.

People who get insurance through their agencies usually have affordable health insurance as well. Those that have to buy a private health insurance policy have higher costs on average, but good deals can be found if you do your research when comparing health insurance quotes online.

Planning for Your Health Insurance Situation If You’re an Aspiring Real Estate Agent

Many people aspire to be real estate agents, and some quit jobs that offer health insurance benefits to pursue a career in real estate. If real estate is your dream, then you should follow it. However, you should also have everything planned out before you do so.  One of the most important things to plan for is your health insurance situation.

Keep in mind that it is not only fiscally responsible but also legally required to have health insurance coverage at all times.

If you quit your job, you cannot keep receiving health insurance benefits like you could if you were laid off. Make sure you have another health insurance policy ready and waiting if you quit a job to try and become a real estate agent.

Final Thoughts

In conclusion, there are several different ways for real estate agents to get health insurance benefits. The right option differs depending on your own personal situation, but if you are intelligent and do your research you’ll be able to find a good health insurance policy. This is the case no matter whether you’re self-employed or work for a real estate agency that offers you health insurance benefits as part of your compensation package.

Make sure to do comparison shopping with our free insurance comparison tool below!

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