Broker (Health Care) Law and Legal Definition
A broker in the context of health care refers to a person who is a health insurance salesperson working to match applicants with a health insurance company or plan best matched to their needs. A broker must have obtained a state license to sell and service contracts of multiple health plans or insurers. S/he is ordinarily considered an agent of the applicant, though they are paid commission by the health insurance company. Insurance companies offering health plans always maintain good relationship with brokers, since each party's profits depend on a strong partnership. Some insurance companies pay brokers flat fees rather than commissions. The term broker is used as a synonym for agent.
Legal Definition list
Related Legal Terms
- Accelerated Benefits (Health Care)
- Accumulation Value (Health Care)
- Actual Age (Health Care)
- Actuarial Equivalent (Health Care)
- Acute Care
- Additional Health Services
- Adequate Parental Care
- Adequate Veterinary Care
- Admitting Privileges (Health Care)
- Adoption and Foster Care Analysis and Reporting System (AFCARS)
