No benefits
It’s no surprise that most Realtors do not receive benefits through their real estate firm, but one in four Realtors actually do, according to the National Association of Realtors (NAR). Although some are outraged at this statistic, it should be noted that many Realtors receive benefits through their spouse or partner’s benefit package from their non-Realtor employer.
When people hear the word “benefits,” what often comes to mind is retirement funds or 401k accounts, but today we’d like to focus on health insurance in the era of Obama health care, legislation that the NAR ended up neither supporting or opposing.
The lack of an official position by NAR dates back some time, but in 2009, they outlined how the health care bill could be improved including making sure the guidelines for coverage were less subjective, and allowing for insurance to be carried across state lines which would make insurance rates affordable for the self employed (aka Realtors). But NAR’s suggestions didn’t exactly catch the President’s attention.
How can Realtors get insurance?
Insurance is costly. Extremely costly, especially when going it alone. Some brokerages don’t offer full benefits but do offer health insurance, but most do not. NAR has offered Realtor Core Health Insurance for a while and has recently added Realtors Dental Insurance.
Many Realtors have health afflictions ranging from cancer to cardiovascular problems and the self pay program can drain finances. Most doctors in this down economy will make payment arrangements and if asked will honor Medicare prices, but we are hearing more and more that Realtors simply aren’t treating their health issues. Some are waiting for Obama care to kick in, but others don’t believe that it ever will and are being proactive.
How do YOU receive benefits?
With 75% of Realtors receiving no benefits, some are taking advantage of NAR plans/discounts, others rely on a spouse, while others are paying for their health care out of pocket.
Some believe opening state lines would make private insurance competitive and affordable and that tort reform would lower costs for medical practitioners thus consumers, while others maintain that government health care is the best option. Tell us in comments which path you have chosen and what options you wish you had.
