medicare and Medicare Advantage
If you are shopping for Medicare coverage, you need to know that Medicare alone is not enough. Original Medicare is made up of two parts: Part A covers hospitalization and inpatient services. Most people receive Part A at no cost because they have worked for at least 10 years. Part B covers outpatient services, like office visits, lab tests and preventive services. Part B requires a premium which is based on income. For most people, the premium this year is $115.40 per month.
Original Medicare works like a lot of health plans in that there are deductibles and co-pays. These can be significant for hospital stays and diagnostic testing. Most people want to reduce this out of pocket expense by purchasing additional private medical insurance.
There are two options for additional medical insurance: Medicare Supplements and Medicare Advantage plans. Here are the differences between them.
Medicare Supplements are also referred to as Medigap plans. Medicare Supplement plans provide secondary insurance that helps to offset some if not all of the expenses Medicare does not cover. Each type of plan is identified with a letter designation, like C, F, G, etc. The plans do not vary between carriers, so a plan F is the same coverage with any carrier who offers it. What does vary is the cost of the plan with each carrier. It is important to shop not only on price but on the AM Best rating of the carrier.
Medicare Advantage plans are also referred to as Medicare Part C plans. These are also private insurance plans which are approved by Medicare. They work differently from Medicare Supplement plans because the insurance company assumes all claims liability for each enrollee. Unlike Medicare Supplements, there are co-pays and other out of pocket expenses with this plans. There also may be additional benefits offered that are not covered by Medicare, such as dental, vision and hearing coverage. Some Medicare Advantage plans also include prescription drug coverage and are referred to as "all in one" plans.
Whether you are shopping for a Medicare Supplement, Medicare Advantage plan or a standalone Part D plan, we can help you to determine which is the right plan for you. Just contact us. We can provide you with easy to understand information to help you select the coverage that works for you.
Part D Plans
Original Medicare (Part A and B) does not cover prescription medications so most people look for a Part D plan. Medicare Part D is legislation that allows for private insurance coverage on outpatient prescription drugs. Medicare has a standard model under which all of these plans work and the insurance company can offer richer benefits than the standard Medicare model. Premiums and benefits vary between carriers, but the key to the right plan for you is based on the prescriptions you are taking.
There is a penalty associated with Part D plans if you do not buy the coverage when you are first eligible. Even though you are not using a lot of drugs, it is a good idea to go ahead and purchase coverage to avoid a future penalty.
We can help you to find the right Part D coverage if you contact us.
Travel Medical Insurance
Medical insurance, even when it is for people over 65, only covers emergencies when you are out of the country. For that reason, we recommend always purchasing Travel Insurance that includes travel medical as well as trip interruption. It also covers bringing you home in the event that you die outside of the United States.
We represent two carriers that offer this coverage. Click on the links below to get quotes and purchase coverage for your next trip. It is easy and affordable.
Global Underwriters coverage: Global Underwriters
Travel protection: Travel insured
final expense plans
Families have to make several important decisions after the death of a loved one.
Along with these decisions, expenses from burial planning, debt balances and out of pocket expenses on health care bills can quickly add up. Survfivors could find themselves not only grieving but left in debt.
The overwhelming majority of U. S. health costs occur in the final phase of life. Fatal chronic illnesses have the most intense costs associated with treatments and many times the bills come well after the person has died.
Early planning can give you peace of mind, knowing that you have taken care of of your final expenses and minimized the financial burden that your death can have on your family. These are life insurance plans with limited underwriting and guaranteed non-cancellable as long as the premiums are paid on time. Contact us today to find out more.
Dental & vision for retirees
We represent several carriers who now offer dental and vision for retirees. This is typically not covered by regular Medicare insurance. To learn more, please contact us.
long term care
What would happen to your family if something happened to you? Do you have the right protection if you:
—need assistance with daily activities
- —have a serious accident or illness
- —become disabled or die?
Long term care planning allows families to avert a crisis and have a choice about the quality and location of care. It also opens up a family discussion so others know what your wishes are. What is your plan?
We are your resource for all of the options for Long Term Care planning. To learn more about long term care, please visit Alta Vista University.
If you would like to take a short survey on long term care, please click here.