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Posted by Barb Gavitt, CDEI, ITP, SILA-F ● April 4, 2016

What Can I Sell with a Health Insurance License?


What can I do with a Health (Accident and Health) insurance license?

An insurance license is required for individuals to transact, or solicit and sell, health insurance products. The term “accident and health” refers to a health insurance license. By obtaining a health insurance license, an individual becomes authorized by a state to discuss and sell a variety of policies that will provide protection for medical expenses, loss of income due to a disability, and the need for long term care.  These plans may sold to individuals or eligible groups.

What types of products can I sell with a health insurance license?

Disability Income – Insurance that pays weekly or monthly income benefits if an insured is unable to work due to injury or sickness.

Medical Expense – Insurance that provides coverage for medical, hospital and surgical expenses associated with an accident or illness. These plans may be sold or administered by commercial insurers or service providers such as HMO’s and PPO’s.

Dental Expense – Insurance that provides coverage for the costs associated with dental care including preventive care (cleaning) and additional services such as fillings, crowns, root canals, implants, or dentures. Dental plans can be sold individually or as part of a group plan.

Plans for the Senior Market

Medicare Supplements (Medigap) – Insurance that provides medical expense coverage to seniors enrolled in the federal Medicare program. This coverage will help fill-in the coverage gaps left by the federal Medicare program.

Medicare Advantage Part C – Insurance sold by private insurers to seniors eligible for Original Medicare Parts A and B. Medicare Advantage is a service plan (think HMO) that provides the same coverage as the federal government, plus additional benefits, for a monthly premium which is subsidized by the government. Part C provides care based on a geographic location.

Medicare Part D – Insurance sold by private insurers to seniors to provide limited prescription coverage if no other coverage is available.

Long-Term Care Expense – Insurance designed to provide coverage on a daily basis for skilled nursing and personal care services in a setting other than an acute care unit of a hospital, such as a nursing home, assisted living or one’s own home. This type of care is not provided under Medicare or Medicare Supplement Plans and is often necessary coverage.

To become licensed, you will need to demonstrate minimal knowledge of these products, as well as general insurance and contract concepts, policy provisions and applicable riders, the application and underwriting process, federal and state programs such as Medicare and Medicaid, federal acts such as COBRA, HIPAA and the ACA, as well as federal taxation ramifications.  Additionally, there are state specific topics you will need to know. All A.D. Banker learning solutions will deliver the content needed to successfully complete the education requirements for licensing. Now is the time to become a health insurance agent!

Topics: Prelicensing, Health Insurance, Insurance

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