Medicare is an individual policy or plan. Your choice of coverage is your personal choice based upon a thorough needs analysis. Everyone who enrolls in Medicare Part B will pay a premium. Part A is normally free if you or a spouse worked the required 40 quarters.
There are 3 choices: Original Medicare, Medicare Supplement or Medicare Advantage.
Original Medicare: Medicare pays 80% of all approved costs, you are responsible for 20% co-insurance and deductibles.
Medicare Supplemental Insurance: Policies purchased from an insurance company, works with Original Medicare. Plans A, B, C, D, F, G, K, L, M and N are standardized by CMS (Centers for Medicare and Medicaid Services.) With purchase and acceptance you are issued a policy that is guaranteed renewable as long as the policy premium is paid.
Medicare Advantage Prescription Drug Plans. These are insurance plans through private companies. These plans are network based where a member should first seek coverage. There may be out of network benefits and may have out of service area benefits. These plans can also include dental, vision, hearing, over the counter benefits as well as Silver Sneakers or other fitness membership.
Prescription Drug Plans are stand alone and are purchased to work alongside of a Medicare Supplement Policy. Each plan has a deductible and formulary for tier levels and pricing.
INDIVIDUAL & FAMILY
These insurance options are not employer sponsored or a group plan. ACA Health Exchange Marketplace, www.healthcare.gov, is where to begin learning about plan offerings. The plans are comprehensive and will include preventative care as well as pre-existing conditions. ACA plans are not underwritten and enrollment is per member or per household members.
Other options for Individual and Family insurance are short term plans. These plans are designed to provide coverage in times of transition and change, for those who do not qualify for a special enrollment period, or are in an employment probationary period awaiting employer coverage. You may be transitioning to Medicare and need coverage for a short period before turning 65.
These plans can be combined with Supplemental/ Ancillary Insurance Products for more comprehensive coverage. Ancillary Insurance can include, indemnity policies for Cancer, Hospital confinement, Accident, Heart attack or Stroke, Dental and Vision. Dental PPO plans are also available.
LIFE & LONG
Life Insurance with an added Long Term Care Insurance Policy. Designed to allow you to stay in your home or care facility of choice for receiving care. A Cash indemnity benefit policy provides flexibility. Typical uses for benefits might be: Home Healthcare, Adult Day Care, Assisted living, Nursing home care, Alternative care services, and care from immediate family members. A policy purchase can be tailored to suit your needs best.
MORE INFO COMING SOON