First, the agent-vetting process can occur as the retiree is approaching Medicare eligibility age (typically 65), and a good agent should be familiar with the pros and cons of starting Medicare at the age of eligibility if the retiree has other options (e.g., a workplace retirement plan). Also, a good agent will also guide the retiree through the process of applying for Medicare Parts A and B, even though they will not earn a commission for doing so (as Medicare specialists are typically only compensated for Medigap supplemental policies, Medicare Part D prescription drug plans, and Medicare Advantage plans).
Next, agents should be able to explain how the retiree’s Medicare premiums will be impacted by the Income-Related Monthly Adjustment Amount (IRMAA) based on the income.
Finally, the agent can then help the retiree choose among Medigap, Medicare Part D, and Medicare Advantage plans for their specific state. For example, if the retiree is considering a Medicare Advantage plan, having an agent that is familiar with the insurance carriers and hospital networks in the retiree's state can help choose a plan that includes the best medical providers for the individual situation.