{"id":302,"date":"2024-06-05T14:01:23","date_gmt":"2024-06-05T14:01:23","guid":{"rendered":"https:\/\/ferraro-zugibe.com\/?p=302"},"modified":"2024-06-05T18:00:38","modified_gmt":"2024-06-05T18:00:38","slug":"health-insurance-for-realtors-overview-tips-providers","status":"publish","type":"post","link":"https:\/\/ferraro-zugibe.com\/index.php\/2024\/06\/05\/health-insurance-for-realtors-overview-tips-providers\/","title":{"rendered":"Health Insurance for Realtors: Overview, Tips & Providers"},"content":{"rendered":"
Starting a career as a real estate agent is like starting your own business. You need a solid business plan that includes your marketing budget, financial safety net until you seal your first deal, tax strategy, and ensuring you have the right benefits, like health insurance. <\/p>\n
The National Association of REALTORS\u00ae<\/a> (NAR) reported that 28%\u201333% of its members were uninsured in any given year. Agents may choose not to get insured for many reasons, such as cost or lack of information. So, you may have wondered, do real estate agents get health insurance or even need it? Well, I’m here to help you explore all the health insurance options for realtors so you can take care of yourself while staying on top of your business.<\/p>\n Let\u2019s face it: in today\u2019s world, stressors surround us. If it\u2019s not the demands of the job, it\u2019s the screen time; if it\u2019s not the screen time, it\u2019s the household to-do list. The list goes on. However, one of the things we can do to combat stress and take care of our overall well-being is to have secure health insurance. Here are some reasons to consider: <\/p>\n Unlike traditional 9\u20135 jobs with benefits like a 401K, paid time off, and health insurance, real estate professionals are independent contractors and, therefore, essentially self-employed. This status means that these benefits are not provided to agents, which many see as a con of the profession<\/a>. <\/p>\n It\u2019s an industry that demands a great deal of resilience and self-reliance. Some real estate companies and associations offer health insurance for realtors, but independent contractors are generally responsible for arranging their healthcare coverage. It\u2019s important to note that there is no longer a tax penalty<\/a> for not having health coverage. However, California, the District of Columbia, and Maryland all have their own exemption processes. <\/p>\n You now know how important health insurance is for real estate agents. But I bet you’re still asking, \u201cHow do real estate agents get health insurance?\u201d I’ve compiled some tips to help you navigate your search and find the perfect option.<\/p>\n Do real estate agents get health insurance from their brokers? Brokerages don\u2019t typically offer health insurance for real estate brokers and agents<\/a> unless you\u2019re an employee, such as the managing broker of an office. Still, they may provide options that include a slight discount for their agents. Check with your managing broker or office manager to determine what health insurance options your brokerage provides. At the very least, get the information and use it to compare with other options you\u2019re considering. <\/p>\n Real estate associations are good places to look for health insurance options. Part of our association dues pays for benefits that most agents never use. These benefits can include discounts on gym memberships, health insurance options, access to different apps or training, and more. Reach out to your local association to see what they offer, or use the REALTORS\u00ae Insurance Place<\/a> through NAR to find an option that could work for you.<\/p>\n Realtor health insurance cost can be a burden for some agents. Working another job to secure health insurance may be the route some need to take temporarily. Although working as a part-time real estate agent<\/a> is not ideal when you want to grow your business, plan to transition to a full-time real estate agent, which includes how you will invest in your health insurance coverage. <\/p>\n Companies like Mira<\/a> or Lemonaid Health<\/a> don\u2019t require health insurance to assist with some medical needs. Although this is not traditional health insurance, it is a way to access health care when you may be on a more limited budget or need care while saving for conventional insurance. Weigh the pros and cons of using an alternative option instead of investing in traditional health insurance.<\/p>\nThe Importance of Health Insurance for Realtors<\/h2>\n
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Do Real Estate Agents Get Benefits? <\/h2>\n
Tips on How to Find Healthcare Options for Realtors <\/h2>\n
Tip 1: Check With Your Brokerage <\/h3>\n
Tip 2: Ask Your Real Estate Associations <\/h3>\n
Tip 3: Work Another Job <\/h3>\n
Tip 4: Use Alternative Options <\/h3>\n