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75 percent of Realtors do not have benefits through their brokerage

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.

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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.

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  1. Ben Fisher

    June 2, 2011 at 11:39 am

    Or marry a girl who works at Starbucks 🙂

  2. Arn Cenedella

    June 2, 2011 at 11:59 pm

    I am surprised even 25% receive benefits. I pay 100% of my health insurance cost, about $4500 a year high deductible plan just for me. Let's not forget 13.4% for self employment tax – both sides of social security payment – employer share and employee share.

  3. Linda Iwaiw

    June 3, 2011 at 7:11 am

    I've checked into this. It is very expensive and it covers very little. $300 a month for a MAXIMUM of $1500. Your are better off NOT having insurance and saving the $3600 a year. Another 'Let's make the INSURANCE company RICHER' program. We need MEDICARE for all. Everyone has to pay into it based on their income. All employers have to pay in for each employee. When you hit 70 don't have to pay anymore. If all the hundreds of BILLIONS of dollars of insurance company profits went directly into paying doctors, hospitals, etc. we would have a better system.

  4. Foreclosures

    June 4, 2011 at 2:10 pm

    and everyone thinks real estate agent got everything and want discounts when they buy a home thru one LOL

  5. Short Sale Queen

    June 9, 2011 at 8:49 am

    I have been watching the Insurance programs for years-comparing my Insurance, (Anthem Blue Cross) with anything and everything the NAR can offer me as an Independent Contractor. No dice. They charge too much for too little. Why not have an umbrella Insurance program that works for Agents? It is already so costly to be a about a little help?

  6. stephanie crawford

    June 10, 2011 at 12:52 am

    I have good insurance that I pay for myself through Farm Bureau & Blue Cross. I've had the plan in place since I was 25 years old and that is the only reason it remains affordable at 33. I can never leave it. If I ever left and tried to come back, the fees would likely triple… I am hopeful to see a national plan in my lifetime.

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