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Why Medicare Beneficiaries Should Consider Standalone Dental and Vision Plans

Wed, 07 Jan 2026 13:26:56 GMT

Standalone dental and vision plans fill the biggest gaps in Medicare by covering routine care, preventive checkups, and essential treatments that traditional coverage leaves out.
These plans bring financial stability, reducing surprise expenses from exams, glasses, crowns, or major procedures by turning unpredictable bills into manageable, planned costs.
Better dental and vision care directly support overall health, independence, confidence, and long-term quality of life, making standalone coverage a practical investment for aging well.

Most people entering Medicare are surprised by a detail that no one really talks about: the moment you turn 65, you get great medical coverage, yes, but not the full picture. Dental and vision care quietly slip through the cracks, even though they’re some of the most common and essential needs as you age. The result is that many beneficiaries only realize the gap once they need a crown, or new glasses, or a root canal, and suddenly the costs feel like they came out of nowhere. Standalone dental and vision plans fill this gap in a clean, simple way that Medicare by itself cannot.

Here is why Medicare beneficiaries should consider standalone dental and vision plans, and what makes these plans genuinely worth exploring.

1) What Traditional Medicare Covers

Here’s what you need to know about what Medicare covers and where the gaps begin.

a) What Parts A and B Actually Cover

Traditional Medicare provides strong medical coverage , but it focuses almost entirely on hospital and medical needs. Part A handles inpatient care, hospital stays, skilled nursing facility care, hospice, and some home health services. Part B covers doctor visits, outpatient care, specialist appointments, preventive screenings, diagnostic tests, durable medical equipment, and medically necessary treatments.

It’s comprehensive when it comes to medical events and emergencies, but its coverage stops short the moment you step into anything considered “routine care” for your teeth or eyes, which is exactly where many retirees spend the most out-of-pocket.

b) Medicare Leaves Out Most Dental Care

Medicare does not treat dental care as medically necessary unless it relates to a larger medical procedure. That means everyday essentials like exams, cleanings, fillings, extractions, dentures, and crowns are not included. For many seniors, a single unexpected dental visit can create a large, unplanned bill that feels completely disconnected from the security Medicare usually provides.

Standalone dental coverage brings order and predictability to these costs, turning what would be surprise expenses into manageable, planned care.

c) Vision Care Isn’t Fully Covered Either

Just like dental care, routine vision services are not part of Medicare’s structure. The program will cover medically connected eye exams for glaucoma, diabetes, or other diagnosed conditions, but it will not pay for standard checkups, glasses, frames, or contact lenses. Even after cataract surgery, certain lenses or upgrades can still come with out-of-pocket costs.

A vision plan closes that gap, allowing beneficiaries to keep prescriptions updated and eye health monitored without financial hesitation.

d) Medicare’s Gaps Often Lead People to Delay Care

When routine dental and vision services aren’t covered, many beneficiaries start postponing checkups or cleanings because the costs feel unnecessary in the moment. But delayed care almost always leads to bigger problems, more decay, worsening gum health, shifting prescriptions, or preventable eye strain. These conditions become harder and more expensive to fix when they’re ignored for too long.

Standalone plans help people stay consistent instead of waiting for problems to become urgent, which keeps health stable and costs easier to manage.

e) How Supplemental Insurance Fills the Gaps Medicare Doesn’t Cover

Many beneficiaries assume Medicare’s coverage is complete, but it leaves major areas uncovered, especially dental and vision. This is where supplemental insurance becomes valuable. These plans are designed to add the benefits Medicare excludes, giving you predictable coverage for routine appointments, larger procedures, and ongoing vision needs.

A supplemental plan removes the guesswork around what is paid for and what isn’t, ensuring you always have structured support even when medical and routine care overlap.

2) The Financial Reality Behind Dental & Vision Care After 65

Here is how standalone plans bring stability, predictability, and long-term savings in a way Medicare alone cannot.

a) Routine Care Adds Up Faster than People Expect

Most people don’t realize how quickly everyday dental and vision costs pile up once they’re no longer covered by Medicare. A simple eye exam, new frames, lens updates, two annual dental cleanings, and the occasional filling can add up to hundreds of dollars within a few months.

These aren’t luxury expenses; they’re maintenance. When you’re on a fixed income, even predictable care starts feeling unpredictable without something in place to manage it.

b) Major Procedures Become Financial Shock Events

The real financial stress shows up when something bigger is needed. A crown can cost more than a weekend vacation. A root canal or periodontal treatment can feel like a small financial crisis. And advanced vision expenses, cataract follow-ups, retina monitoring, specialty lenses, come with equally steep price tags.

Standalone coverage provides breathing room in these moments, turning what would have been a financial hit into something structured and manageable.

c) Standalone Plans Turn Unpredictable Bills Into Predictable Monthly Costs

Without dental and vision coverage, expenses hit at random. Standalone plans give structure to something that otherwise feels chaotic. A steady monthly premium lets you plan ahead instead of bracing for the next unexpected bill.

It shifts you into a mindset of control, where care happens regularly, budgets stay steady, and you never have to choose between your health and your wallet.

d) Medicare Advantage Allowances Don’t Stretch Far Enough

Some Medicare Advantage plans offer dental or vision benefits, but many beneficiaries discover too late that those benefits only go so far. A small cleaning allowance doesn’t help much when a tooth cracks.

A discount on frames doesn’t cover lens upgrades. Standalone plans fill the gaps that Medicare Advantage leaves behind, especially for people who want stronger preventive care and realistic coverage for real-life needs.

e) Plans Reduce Long-Term Costs by Catching Issues Early

The financial value doesn’t stop at coverage; it shows up in prevention. When cleanings, exams, and checkups are easy to schedule and affordable, problems get caught early. This avoids the expensive crises that happen when untreated issues build over time. A plan becomes a simple way to lower long-term healthcare costs without even thinking about it.

3) Health, Aging & Quality-of-Life Benefits You Can’t Ignore

Here is how strong dental and vision habits support comfort, safety, and independence as you age.

a) Good Dental Health Strengthens Your Whole-Body Health

Dental care goes much deeper than teeth. Gum inflammation is linked to heart conditions, diabetes complications, sleep disruptions, and immune challenges. When you keep up with regular exams and cleanings, you’re not just protecting your smile, you’re supporting core parts of your overall health. A standalone plan makes it easier to maintain this consistency without hesitation.

b) Clear Vision Protects Mobility, Confidence, and Independence

Vision changes happen slowly, then all at once. A slight prescription shift can affect balance, driving, reading medication labels, navigating stairs, cooking, and even recognizing faces. Updated lenses and regular checkups keep you safe, confident, and independent. A vision plan ensures you don’t put off care simply because new glasses feel “too expensive this year.”

c) Regular Checkups Catch Hidden Issues Before They Become Serious

Many dental and vision problems develop quietly. Tiny cavities, gum pockets, cataract progression, macular changes, or pressure buildup are easy to miss without regular screenings. A standalone plan encourages consistent checkups that catch issues early, long before they interrupt your lifestyle or require complex treatment. You get the benefit of early action and fewer surprises.

d) Oral and Eye Health Impact Daily Comfort and Energy

Dry mouth, tooth sensitivity, outdated prescriptions, and eye strain all affect your day more than you realize. Chewing becomes less enjoyable, reading becomes tiring, and little tasks feel heavier. When dental and vision care are part of your routine, your energy rises, meals feel enjoyable, and daily activities become more comfortable. It’s a quality-of-life upgrade you genuinely feel.

e) Strong Dental & Vision Health Support an Active Lifestyle

Whether it’s seeing your grandkids clearly, eating comfortably at social gatherings, driving with confidence, or simply enjoying the world around you, good oral and eye health shape your entire experience of life. Standalone plans keep you connected, engaged, and able to participate fully in the things that matter most while aging with control and ease.

The Missing Piece to Confident Medicare Coverage

Standalone dental and vision plans are more than “nice-to-haves.” They close real gaps in Medicare, protect your long-term health, and keep costs predictable so you can age with confidence instead of uncertainty. When your eyes and dental health are supported, you feel it in every part of daily life. Because when your smile stays strong, and your vision stays clear, the rest of life becomes a lot easier to enjoy, and that’s exactly what your coverage should protect.

The Insurance Office is your trusted partner for Medicare guidance and the right dental and vision coverage that keeps your health fully protected. Get in touch for clear comparisons, personalized support, and help choosing a plan that fits your needs without confusion or overwhelm.

Medicare Made Easy: How to Choose the Right Plan in Peoria

Fri, 28 Feb 2025 13:40:52 GMT

Medicare has multiple parts—Part A covers hospital stays, Part B covers medical services, Part C bundles A and B, Part D covers prescription drugs, and Medigap supplements out-of-pocket costs.
Pre-retirees should note that Medicare has coverage gaps and that enrollment is not automatic, with late enrollment carrying financial penalties.
The Insurance Office in Peoria can help navigate Medicare complexities with expert guidance, cost-free consultation, ongoing support, and local expertise.

Medicare can feel overwhelming, especially with the different plans and enrollment rules. If you’re in Peoria, Illinois, and nearing retirement, understanding your options is crucial. Choosing the right Medicare plan helps you get the coverage you need while avoiding unnecessary expenses.

Let’s break down Medicare into easy-to-understand sections, helping you make the best decision for your healthcare needs.

Medicare Basics

Medicare is a federal health insurance program primarily for individuals aged 65 and older. It also covers certain younger people with disabilities and those with end-stage renal disease (ESRD). Medicare isn’t a one-size-fits-all solution. To make the most of your benefits, it's important to learn how it works.

Medicare is divided into five major parts. Each part serves a different purpose and offers unique benefits.

Part A (Hospital Insurance)

Medicare Part A covers inpatient hospital stays, skilled nursing facility care, hospice care, and limited home healthcare. Most people qualify for premium-free Part A if they or their spouse have paid Medicare taxes for at least ten years. However, there are deductibles and coinsurance costs associated with hospital stays.

Part B (Medical Insurance)

Part B is more like insurance for your regular maintenance needs. It covers medical services like doctor visits, preventive care, outpatient care, medical supplies, and some home health services. Unlike Part A, Part B comes with a monthly premium, which is $174.70 for most people in 2024 (though this amount can vary based on your income).

This part also has an annual deductible (around $240 in 2024) and coinsurance options, typically around 20%.

Part C (Medicare Advantage)

Medicare Advantage plans (also known as MA plans) are offered by private insurance companies approved by Medicare. These plans bundle Part A and Part B coverage and often include Part D prescription drug coverage. Many MA plans offer extra benefits, such as vision, dental, hearing, and fitness programs. However, it's essential to understand the specific plan's network of doctors and hospitals, as your choices may be limited.

Part C plans also include premiums, deductibles, and coinsurance like Part A and Part B. But these plans can also have other costs, such as copayments and monthly premiums.

Part D (Prescription Drug Coverage)

Part D is Medicare's prescription drug program. It helps cover the cost of prescription medications. Like MA plans, Part D plans are offered by private insurance companies. You'll typically pay a monthly premium, and there may be deductibles, copayments, or coinsurance. Choosing the right Part D plan is vital to ensure your medications are covered and affordable.

Medicare Supplement (Medigap)

Medigap plans are designed to help fill the "gaps" in Original Medicare coverage (Parts A and B). They can help pay for things like deductibles, copayments, and coinsurance. Medigap plans are standardized, meaning the benefits are the same regardless of the insurance company you buy them from. However, premiums can vary based on the options you choose. Medigap plans do not include prescription drug coverage; you would need to enroll in a separate Part D plan.

How To Choose Medicare Coverage When You Retire?

You have two main ways to receive your Medicare coverage:

Original Medicare (Parts A and B)

This is the traditional Medicare program offered directly by the federal government. You can add a separate Part D plan for prescription drug coverage and a Medigap plan to help with out-of-pocket costs. This option offers flexibility and allows you to see any doctor or hospital that accepts Medicare patients.

Medicare Advantage Plans

These plans are offered by private insurance companies and combine Part A, Part B, and often Part D coverage. They may offer additional benefits but often have network restrictions, meaning you may need to see doctors and hospitals within the plan's network.

Health Maintenance Organization (HMO) Plans: HMO plans require you to choose a primary care physician (PCP) who coordinates your healthcare. You’ll generally need a referral from your PCP to see specialists. These plans often have lower premiums and out-of-pocket costs, but you must use in-network providers except in emergencies.

Preferred Provider Organization (PPO) Plans: PPO plans offer more flexibility by allowing you to see any doctor or specialist without a referral. While you can see out-of-network providers, it will typically cost more. PPOs tend to have higher premiums than HMOs but provide greater freedom in choosing healthcare providers.

Critical Medicare Facts for Pre-Retirees

As you approach retirement age, understanding Medicare becomes crucial for your healthcare planning. Unfortunately, many pre-retirees in Peoria discover too late that Medicare isn't as straightforward as they assumed. Here are some essential facts you need to know to navigate this complex system successfully and avoid costly mistakes that could impact your retirement.

Enrollment Is Not Automatic

Many people believe enrollment happens automatically when they turn 65, but this is only true for those already receiving Social Security benefits. For everyone else, active enrollment is necessary during specific periods. Your initial enrollment period spans seven months, including the three months before your birthday month, your birthday month, and the three months following. This timing is crucial—missing it can lead to serious consequences for both your healthcare coverage and financial well-being.

The Financial Impact of Delayed Enrollment

The penalties for late Medicare enrollment can be surprisingly severe and long-lasting. For those who need to pay Part A premiums, late enrollment can increase monthly premiums by up to 10% for twice the number of years enrollment was delayed. Part B penalties are even more stringent, with a 10% premium increase for each 12-month period you could have had coverage but didn't enroll. These penalties don't just last for a few years, continuing for as long as you have Medicare coverage. Part D prescription drug coverage also carries penalties, calculated at 1% of the national base beneficiary premium for each month without coverage.

Medicare's Coverage Limitations

Many retirees are caught off guard by what Medicare doesn't cover. Long-term care is perhaps the most significant gap—Medicare won't pay for extended stays in nursing homes, assisted living facilities, or ongoing home health aide services. Dental care is another major exclusion, with routine cleanings, fillings, extractions, and dentures all falling outside Medicare's scope. Vision care, including routine eye exams and glasses, isn't covered unless specifically related to medical conditions like cataract surgery. Hearing care, including tests and hearing aids, also falls outside basic Medicare coverage.

The Importance of Annual Reviews

Medicare coverage changes every year, and your healthcare needs might change too. Every September, you'll receive an Annual Notice of Change detailing modifications to your coverage, costs, and service area for the coming year. The Annual Enrollment Period, running from October 15 through December 7, is your yearly opportunity to reassess and modify your coverage. During this time, you can switch between Original Medicare and Medicare Advantage, change prescription drug plans, or make other adjustments to ensure your coverage continues to meet your needs.

Special Circumstances and Enrollment Opportunities

Life changes can create special enrollment opportunities outside the standard periods. Moving out of your plan's service area, losing other health insurance coverage, or your plan leaving Medicare are all situations that might qualify you for a special enrollment period. These periods provide flexibility to adjust your coverage when significant life changes occur, ensuring you maintain appropriate healthcare coverage despite changing circumstances.

Financial Planning for Healthcare Costs

The financial aspects of Medicare require careful consideration in your retirement planning. Beyond monthly premiums, you'll need to account for deductibles, copayments, and expenses for services Medicare doesn't cover. Higher-income beneficiaries may face additional costs through Income-Related Monthly Adjustment Amounts (IRMAA). Consider setting aside specific funds for healthcare expenses or exploring supplemental insurance options for gaps in Medicare coverage, such as long-term care insurance, dental insurance, or international travel health insurance.

How The Insurance Office Can Help

Navigating Medicare doesn't have to be a solo journey. As your local Medicare specialist in Peoria, we at The Insurance Office can help you. Our team brings over two decades of experience in helping residents make confident Medicare decisions. We understand that each person's healthcare needs and financial situation are unique, which is why we offer:

Expert Guidance: We guide you through every step of the enrollment process, ensuring all paperwork is completed accurately and submitted on time. Our team helps you understand how different plans work with any existing coverage you may have. We also provide guidance on Medicare savings programs and available subsidies.
Cost-Free Consultation: Our team will save you time and effort by searching through national and locally recognized companies' plans on your behalf. And we will do it all at no cost to you. This helps you identify the right coverage for your needs without spending countless hours comparing plans.
Ongoing Support: Once your enrollment is complete, we will help you update your plan and answer any questions or concerns. You can count on us for prompt, knowledgeable assistance throughout your Medicare journey.
Local Partner with a Personal Touch: As your neighbors in Peoria, we understand the local healthcare landscape. We're familiar with the area's hospitals, medical groups, and healthcare providers, which allows us to recommend plans that provide the best access to the healthcare services you need.

Don't let Medicare confusion keep you from getting the coverage you need. Our team at The Insurance Office can help guide you. Whether you're approaching 65, retiring soon, new to the area, or simply want to review your current coverage, we're here to help you make informed Medicare decisions with confidence. Book a consultation or call (309) 267-0439 for more detail!

Should I Work with a Medicare Agent or Broker?

Thu, 17 Oct 2024 13:30:00 GMT

VIDEO: What's the difference between an agent and a broker?

Choosing the right Medicare plan is important to maintaining continued good health. A Licensed Agent or a Licensed Broker can help with your search – but they operate differently.

An agent can match you with an appropriate Medicare program, but only those offered by a single insurance provider. That is called a “captive agent.” You may find a program that meets your needs, but your choices are limited to only those offered by that one carrier. A Licensed Broker can provide a choice of programs from a variety of carriers, providing you with more coverage options. A Broker is not tied to one provider’s offerings, so there’s a greater opportunity to find a program more precisely tailored to your medical needs.

An independent Insurance Broker can provide you with more choices, more personalized coverage, and the objective guidance you need… all at no cost to you.

To take advantage of a year-round, personal guide through the maze of Medicare, call us today.

When is the Medicare Annual Enrollment Period (AEP)?

Wed, 09 Oct 2024 21:33:41 GMT

VIDEO: How do you enroll in Medicare?

When is the Medicare Annual Enrollment Period… and why is it important to you? The Medicare Annual Enrollment period runs from October 15th through December 7th each year. The Annual Enrollment Period is only extended beyond December 7th when FEMA declares an emergency or a major disaster in your area that would make sign up difficult.

Each September - before the AEP period begins - you’ll receive an Annual Notice of Change letter detailing the changes in your coverage for the following year. Being aware of the Annual Enrollment window is important, because it gives you the opportunity to reevaluate your current coverage and decide whether to change it. Any changes you make during the AEP go into effect on January 1st of the following year.

For example, you can switch from Original Medicare to a Medicare Advantage program that may provide additional coverage that Original Medicare does not. You also have the option to switch from one Medicare Advantage program to another for increased benefits. If Original Medicare coverage changes, you can even switch back to Original Medicare, or just update your Part D drug plan to take advantage of price changes in prescription drugs.

As you can see, there’s a lot to know about Medicare Annual Enrollment. Let us help you with your important Medicare decisions. Call to speak to a licensed insurance agent.

Why You Need Travel Insurance

Fri, 25 Aug 2023 19:50:13 GMT

VIDEO: What if you have a medical emergency during your trip?

International travel can be an exciting, memorable introduction to new cultures and foods. But what if you have a medical emergency during your trip?

Original Medicare or Medicare Supplemental Insurance will cover very little of the cost - if accepted at all - outside the U.S.

Even corporate employer policies may not provide sufficient coverage to meet all your medical needs… or be accepted by a foreign medical facility.

Before your next trip, consider purchasing medical travel insurance to supplement your current medical coverage.

At The Insurance Office, we’ve partnered with GeoBlue and the Travel Insurance Center, leading providers of international medical travel insurance. An International Medical Travel Policy can provide you the comprehensive coverage you need… and the peace of mind you deserve.

Whether you’re a missionary, an ex-pat living overseas, or just enjoying a long overdue vacation, a policy from our Travel Insurance Center gives you access to elite overseas medical care - whenever you need it - from trusted companies like GeoBlue.

And with GeoBlue and the Travel Insurance Center’s easy-to-use online portal, you can choose a plan and sign yourself up in minutes.

Make sure that your medical coverage travels with you on your next trip out of the country.

To find out more about purchasing travel insurance, go to my website and click on the Travel Insurance Center today.

Final Expenses

Thu, 10 Aug 2023 00:37:37 GMT

VIDEO: End-of-life insurance policies provide financial peace of mind

Have you thought about how your passing will affect your family’s financial life? During this time of grief, you want to make sure that loved ones won’t have to worry about paying for your final expenses. Funeral expenses alone can exceed $10,000 in most states and final medical expenses can add thousands more. Final expense or so called “end-of-life” insurance policies can provide you and your family with peace of mind. These “end-of-life” policies cover your final funeral, legal and medical expenses, and they are a type of whole life policy. They offer affordable premiums, fixed interest rates, and can never be terminated due to age. You will have to answer a few – or in some cases no – health questions to qualify and most offer a free “Accelerated Death Benefit Rider” that allows you to access up to 50% of the death benefit while alive. To find out more about final expense insurance, call us today.

Medicare Basics – Part D

Thu, 27 Jul 2023 00:08:07 GMT

VIDEO: Medicare Part D helps you cover the rising cost of prescription drugs

To get the most out of your Medicare coverage, it’s important to understand what the different parts of the Medicare program provide and what the cost is to you. The Medicare program consists of three parts: Part A - Hospital Insurance, Part B - Medical Insurance and Part D - Prescription Drug Coverage.

Let’s talk about Medicare Part D – Prescription Drug Coverage. Medicare Part D helps you cover the rising cost of prescription drugs after age 65. Premiums may vary depending on what plan you choose and may change each year. You may also have to pay an extra amount each month based on your income, if your adjusted individual gross income from the two years prior exceeds preset earnings limits for filing single or if married filing jointly. Social Security will tell you if you must pay this extra amount to Medicare - not to your plan – and the amount will be adjusted each year based on your most recent IRS return.

You might pay a penalty if you don’t join a drug plan when you first join Medicare and go 63 days without coverage similar in value to Part D coverage. Most plans do charge a deductible, and the amount that you pay out-of-pocket before the plan begins to pay, as well as the payment amount, will vary. Your actual costs will also depend on the drugs you take, what drugs the plan covers and the pharmacy.

As you can see, there’s a lot to know about Medicare, so why not get some help with your Medicare plan? Call us today to make sure you get the all the benefits from Medicare that you deserve.

Medicare Open Enrollment Period & Coverage Changes

Fri, 21 Jul 2023 22:57:31 GMT

VIDEO: What is the Medicare Open Enrollment Period?

What is the Medicare Open Enrollment Period… and what coverage changes can you make? If by Open Enrollment you mean the Medicare Annual Enrollment Period, from October 15th through December 7th each year, you can make changes to your current Medicare Advantage Program or Part D drug plan.

However, if you’re already enrolled in a Medicare Advantage Plan, your Open Enrollment window is from January 1 to March 31. During this period, you can switch Medicare Advantage Plans, leave your plan to return to Original Medicare with or without drug coverage, or just change your Medicare Advantage Drug Plan.

Finally, there is the Medicare Supplement or Medigap Open Enrollment Period that occurs once in a lifetime, unless you are collecting Social Security Disability Benefits. It begins on your Medicare Part B effective date, usually the first day of the month after you turn 65, and you don’t have to answer any health questions to qualify. Choosing a Medicare Supplement Plan during the Medigap Open Enrollment Period offers you the best chance to find a plan in your area that offers the coverage you need at the lowest cost. After six months, your window of opportunity closes, and you’ll have to answer health questions if you want to apply.

Navigating all these different Open Enrollment Periods can be confusing. There are also special circumstances that can affect the SEP timelines - and your eligibility - that your advisor can make you aware of.

Let us help you with your important Medicare decisions. Call to speak to a licensed insurance agent.

Medicare Basics - Part B

Fri, 30 Jun 2023 00:25:14 GMT

VIDEO: Part B covers outpatient care like doctor visits and lab tests.

To get the most out of your Medicare coverage, it’s important to understand what the different parts of the Medicare program provide and what the cost is to you. The Medicare program consists of four parts: Part A - Hospital Insurance, Part B - Medical Insurance, Part C – Medicare Advantage, and Part D - Prescription Drug Coverage.

Let’s talk about Medicare Part B - Medical Insurance. Part B covers outpatient care like doctor visits and lab tests. The premium for Part B Medicare is determined by your income. The amount can change each year and you pay this premium monthly, even if you don’t receive any Part B services. You pay a Part B deductible once a year before Medicare begins to pay. Once you’ve met your deductible, you’ll pay 20% of the cost of any Medicare-covered services or items.

If you don’t sign up for Part B coverage when you first become eligible for Medicare, usually at age 65, your monthly premium could go up 10% for every 12-month period without Part B coverage. You’ll have to pay this late enrollment penalty each time you pay your premium for as long as you have Part B, and the penalty increases the longer you go without Part B coverage.

As you can see, there’s a lot to know about Medicare, so why not get some help with your Medicare plan? Call us today to make sure you get all the benefits from Medicare that you deserve.

Not connected to the Federal Medicare Program. This is a solicitation for insurance.

Medicare Basics - Part A

Mon, 19 Jun 2023 20:00:00 GMT

VIDEO: Most people pay no premium for Part A hospital coverage

To get the most out of your Medicare coverage, it’s important to understand what the different parts of the Medicare program provide and what the cost is to you. You become eligible for Medicare coverage when you turn 65. If you’re younger and disabled for 24 months or have certain illnesses, you can also qualify.

The Medicare program consists of four parts: Part A - Hospital Insurance, Part B - Medical Insurance, Part C – Medicare Advantage, and Part D - Prescription Drug Coverage. Let’s begin with Part A – Hospital Insurance. For most people, you pay no premium for Part A hospital coverage, because you’ve been working at least 10 years and paying Medicare taxes.

You pay a deductible each time you’re admitted to the hospital per benefit period before Medicare begins to pay. The benefit period ends after you have received no inpatient treatment for 60 consecutive days. While there is no limit to the number of benefit periods you can have, you must pay the inpatient hospital deductible each time a new benefit period begins.

The costs for inpatient hospital stays are calculated this way: For Days 1-60 you pay $0… after you pay your Part A deductible. For Days 61-90 and Days 91-150, you pay an increasing amount for each segment, while using your 60 lifetime reserve days. After day 150 you pay all costs.

As you can see, there’s a lot to know about Medicare, so why not get some help with your Medicare plan? Call us today to make sure you get all the benefits from Medicare that you deserve.

Not connected to the Federal Medicare Program. This is a solicitation for insurance.

Medicare Supplement Plans

Fri, 02 Jun 2023 12:30:00 GMT

VIDEO: Cover costs that Original Medicare doesn't cover...

Medicare Supplement plans – also known as Medigap plans – are designed to cover some of the costs that Original Medicare doesn’t. These costs include things like copayments, coinsurance and deductibles. Some Medigap plans also offer certain benefits that Original Medicare doesn’t like emergency foreign travel expenses. Medigap plans don’t cover your costs under other health plans – including Medicare Advantage Plans – but only the costs that Original Medicare doesn’t cover.

Here’s how it works. If you have Original Medicare and a Medigap policy, Medicare will pay its share of the Medicare-approved amount for a covered service. Then, your Medigap policy pays its share. But Medicare doesn’t pay any of the costs of purchasing the policy.

Medigap Plans differ from Medicare Advantage Plans in an important way. Medicare Advantage Plans are just an alternative way to get your Medicare Plan A and B benefits. Medigap Plans are solely designed to cover costs that Original Medicare doesn’t cover. In fact, insurance companies generally can’t sell you a Medigap Plan if you are already covered by a Medicare Advantage Plan or Medicaid. Medigap Plans are required to follow all federal and state consumer protection laws and policies must be clearly identified as “Medicare Supplement Insurance.” Medigap Plans in most states are standardized, and identified by Plan letters A through N. Each standardized state Medigap plan under the same plan letter must offer the same basic benefits, no matter what insurance company sells it. Usually, the only difference between Medigap policies with the same plan letter is the cost charged by different insurance companies… so you can comparison shop!

Need help with choosing the right Medigap plan for you? Call us for no obligation consultation today.

Medicare Advantage Plans

Fri, 19 May 2023 16:57:40 GMT

VIDEO: Medicare Advantage plans are an alternative to Original Medicare

Medicare Advantage plans are an alternative to basic - or so-called Original - Medicare. Sometimes referred to as Medicare Part C or MA Plans, they are offered by Medicare-approved private companies. They must follow Medicare rules and provide Medicare Part A and B coverage. Most Medicare Advantage Plans also include Part D drug coverage.

In many cases, you can obtain the lowest plan rates by using an in-network provider in your area. Some plans do have an out-of-network option, but it will sometimes be at higher cost. An attractive benefit of Medicare Advantage plans is that they set a limit on the amount you pay out-of-pocket for covered services annually, which helps protect you from unexpected expenses.

When seeking treatment, you must present your Medicare Advantage card to receive Medicare covered treatment.

The most common types of Medicare Advantage plans are Health Maintenance Organization or HMO Plans, Preferred Provider Organization or PPO Plans, Private-Fee-For-Service or PFFS Plans, Special Needs Plans or SNPs. Each type has its own set of benefits, costs and limitations, so be sure to research your choice carefully. But no matter what plan you choose, do not discard your red, white and blue Medicare card, because you’ll need it if you ever decide to switch back to Original Medicare.

Need help deciding on the right Medicare Advantage plan for you? Call us for a no obligation Medicare consultation today.

How Do I Choose Medicare Coverage When I Retire?

Wed, 03 May 2023 22:41:34 GMT

VIDEO: Get the facts before you decide on your Medicare coverage.

Many pre-retirees are uncertain about their choices when it comes to enrolling in Medicare. There are 2 main ways to get your coverage - you can choose the traditional fee-for-service Medicare, known as Original Medicare, or a Medicare Advantage plan. Medicare Advantage plans are similar to an HMO, which stands for Health Maintenance Organization or a PPO, which stands for Preferred Provider Organization. Original Medicare consists of Part A - Hospital Insurance for in-hospital care, and Part B Medical Insurance for outpatient services like doctor visits and lab tests. Medicare Advantage, known as Part C, is a managed care option that rolls all the different parts of Medicare into one. There may be extra coverage like dental and vision. And everyone on Medicare is eligible for prescription drug coverage either from a Part D plan or a Medicare Advantage Plan offering drug coverage. There are many considerations that can factor into the Medicare planning process. Let us help you with your important Medicare decisions - give us a call today!

5 Important Medicare Facts for Pre-Retirees

Tue, 18 Apr 2023 14:57:52 GMT

VIDEO: Medicare is complicated. Here are 5 important facts you need to know

Most Americans who turn 65 are eligible for Medicare, a federal program that covers many health expenses for seniors. But the program is complicated. Here are 5 important facts you need to know:

First - Medicare is not free. Of the 4 parts, Part A - Hospital Insurance - is the only one that normally has no premium. Parts B, C and D have premiums that vary.

Second - Enrollment is not automatic - you have to sign up for Medicare benefits. The exception is for those already receiving Social Security benefits. If you’re already receiving Social Security benefits, you will automatically receive Medicare Parts A and B.

Third - Late enrollment can mean expensive, and permanent, premium penalties. You have 7 months, starting 3 months before your 65th birthday month, to sign up penalty-free.

Fourth - Medicare covers a lot, but not everything. Services like long-term care, dental and vision care are not covered. People often purchase additional private coverage for these types of services.

And fifth, if you’re rich, you’ll pay more. High-income seniors pay surcharges on premiums for both Parts B and D.

Let us help you with your important Medicare decisions - give us a call or visit our website today!

The Affordable Care Act

Mon, 27 Mar 2023 00:29:57 GMT

VIDEO: Millions of Previously Uninsured Americans Now Have Coverage.

The Affordable Care Act or “ACA” has given millions more previously uninsured Americans access to health insurance coverage. If you’re not sure exactly what the ACA covers or are having trouble deciding on a coverage plan, here are the basics about affordability and coverage.

The ACA addresses affordability by providing consumers with premium tax credits that lower the cost of obtaining health care for individuals and their families with incomes between 100% to 400% of the federal poverty level. There is also a subsidy credit that may lower your co-pays and deductibles, depending on your income. Consumers ages 26 to 64 are eligible for coverage, and those younger than 26 may be eligible under a parent’s coverage.

The ACA provides for preventative care like colonoscopies and immunizations at no cost, and patients with pre-existing conditions can’t be refused coverage… or be charged more by insurance companies. Most importantly, you can choose your own doctor from the health plan’s provider network, and the ACA makes it illegal for an insurance company to cancel your coverage just because you got sick.

These are just a few of the benefits and protections offered under the Affordable Care Act that you should be aware of before choosing a health insurance plan. To be sure you’re getting all the benefits you deserve, visit our website to schedule your call today.

Retirees, Here’s How Returning to Work May Affect Social Security, Medicare, Pensions and Taxes

Mon, 01 Aug 2022 15:49:17 GMT

Very good information if you intend to keep or go back to work while collecting Social Security.

Mid Year Review / How To Avoid A Tax Penalty

Mon, 25 Jul 2022 16:57:23 GMT

If you suspect this has happened with you, give me a call so we can review your information and make a correction so you can avoid penalties at tax time ...they will ask for those $$$'s back! Remember there is no charge for my services. (309) 267-0439

Read more...

This Would Be A Good Thing

Wed, 29 Jun 2022 20:34:12 GMT

This would be a good thing to do, it’s needed to save the program.

https://www.healthcaredive.com/news/house-hearing-medicare-advantage-reform/626222/?utm_source=Sailthru

Brace Yourselves for 2023 Enrollments

Mon, 27 Jun 2022 18:16:24 GMT

Brace yourselves for 2023 enrollments, this could be big if you are on Obamacare, click below to read the story . If your premium does jump, you may want to look at an indemnity product. It could be less expensive, but will come with less benefits and you must pass underwriting to be excepted. If you are interested, call me for information. (309) 267-0439

https://www.cnbc.com/2022/06/27/health-insurance-premiums-through-marketplace-poised-to-jump-in-2023.html

Now that Open Enrollment is over, see health insurance options

Thu, 20 Jan 2022 19:30:12 GMT

Now that Open Enrollment is over, see health insurance options

If you missed the January 15 deadline for 2022 coverage, you may still be able to get or change 2022 coverage 2 ways: with a Special Enrollment Period or through Medicaid or the Children's Health Insurance Program (CHIP).

See if you qualify for a Special Enrollment Period

If you have certain life events, like losing health coverage, moving, getting married, or having a baby, you may qualify for a Special Enrollment Period to enroll in or change a Marketplace plan for 2022.
See the full list of life changes that may qualify . Or, answer a few questions about your situation to get an idea .

See if you qualify for a Special Enrollment Period

Medicaid and CHIP provide free or low-cost health coverage to millions of Americans, including some low-income people, families and children, pregnant women, the elderly, and people with disabilities.
Medicaid and CHIP don't have Open Enrollment Periods, so if you’re eligible, you can enroll any time.
To see if you may qualify, enter your ZIP code and get an estimate .

What Can Vision Insurance Do for You?

Fri, 08 Jan 2021 23:26:26 GMT

What Is Vision Insurance?

Vision insurance is a supplemental insurance policy. The premiums are lower than most health insurance policies, and the benefits concentrate on eye-related exams and certain treatments. Because most health insurance policies do not include vision coverage, eye exams and glasses can result in high out-of-pocket expenses without a vision coverage plan.

Who Should Have Vision Insurance?

Everyone should have some level of vision insurance, whether or not you need corrective lenses. As you may know, some diseases or eye damage may show small, seemingly insignificant signs. That’s why getting a regular check-up is so important. If you don’t plan on getting yearly exams, there are some general rules you should follow.

Children under 6 should have at least one comprehensive exam within this 6 year period of time.
Children 6 to 18 should have their vision checked before beginning school and at least every 2 years following this exam.

They may need corrective lenses to prevent straining of their eyes. An eye doctor can suggest how often exams should occur.
If they do not need corrective lenses when beginning school, their eyes should be checked every 2 years.

Adults without the need for corrective lenses should have their eyes checked at least every 5 to 10 years. If you need corrective lenses, or have a family history of eye disease, this will decrease to every 1 or 2 years.
Adults over 65 should have their eyes checked every 1 or 2 years. Seniors are at more risk to eye disease. Common symptoms of aging that result in loss of vision, if diagnosed early, can be treated.

How much does it cost?

Surprisingly, the premiums can be lower than $1 per month, depending on the coverage type and level. Compared to the potential benefits, ranging in the thousands, that’s extremely affordable.

What Does Vision Insurance Cover?

Vision insurance typically covers a percentage of basic services such as:

Yearly exams
Eyeglass frames and lenses
Contact lenses
LASIK and PRK vision correction

Policies vary on coverage amounts and how often they will pay for corrective lenses. Yearly exams are typically covered fully. Prescriptions lenses may be covered fully, depending on your policy. Frames and contact lenses are typically covered up to a dollar amount (around $120). Waiting periods for corrective lenses are typically every 1 to 2 years.

At minimum, you should follow these rules for eye exams:

Children under 6 should have at least one comprehensive exam within this 6 year period of time.
Children 6 to 18 should have their vision checked before beginning school and at least every 2 years following this exam.

They may need corrective lenses to prevent straining of their eyes. An eye doctor can suggest how often exams should occur.
If they do not need corrective lenses when beginning school, their eyes should be checked every 2 years.

Adults without the need for corrective lenses should have their eyes checked at least every 5 to 10 years. If you need corrective lenses, or have a family history of eye disease, this will decrease to every 1 or 2 years.
Adults over 65 should have their eyes checked every 1 or 2 years. Seniors are at more risk to eye disease. Common symptoms of aging that result in loss of vision, if diagnosed early, can be treated.

Where Can You Get Vision Insurance?

If you are not offered vision insurance through your employer, or you aren’t satisfied with the coverage, I can help. Give me a call today.

HMIA001188

Can Supplemental Health Insurance Improve Your Coverage?

Fri, 08 Jan 2021 23:15:22 GMT

Are you noticing gaps in your health insurance coverage? If they are turning into costly out-of-pocket expenses, don’t get frustrated. There is an affordable option available that can meet your unique health needs and lower your out-of-pocket expenses. Supplemental health insurance can bridge the gaps in your coverage without breaking the bank.

What does supplemental health insurance do?

When you are ill or injured, a supplemental plan works to cover what your regular health insurance can’t.

For example, you may be ill and require time in the hospital. An insurance company will cover a certain percentage of your stay, and you are responsible for the rest of the hospital charges. The coverage you select with a supplemental plan could cover the rest of that hospital bill.

Supplemental policies work similarly to your regular health insurance. When you pay a set monthly premium, the insurance company agrees to provide you with benefits. However, the benefit process is different. Instead of paying hospitals and doctors, supplemental health insurance plans pay you! Many plan’s benefits can even be used like cash. They can help cover your medical expenses, plus things like lost wages or transportation.

How much does it cost?

Surprisingly, the premiums can be lower than $1 per month, depending on the coverage type and level. Compared to the potential benefits, ranging in the thousands, that’s extremely affordable.

What does it cover?

Supplemental health insurance comes in many different categories. Each of these is specific to medical coverage needs:

Each category allows you to choose a coverage level, which affects your monthly premium and the benefit amount you can receive. If you have a family medical history that involves life threatening ailments, a supplemental health insurance policy may save you or your family thousands in out-of-pocket expenses.

How much money could you save?

By spending less than $1 per month, you could save thousands on broken bones, extended hospital stays, or rehabilitation. Critical illnesses, and even cancer, don’t have to put you into debt. With a supplemental health insurance policy, you can both bridge the gaps in your current health insurance coverage and have a financial cushion if you have an unexpected ailment.

If you would like to discuss your supplemental health insurance options with a licensed, professional insurance agent, give me a call today.

HMIA001189

Top 3 Things to Know About Supplemental Dental Insurance

Fri, 08 Jan 2021 22:51:38 GMT

If you are in need of a dental insurance plan, we have good news for you. Shopping all of your options can be simple if you know the 3 basics.

The top three things you need to know about supplemental dental insurance are:

what it is,
how it can benefit you, and
how much it costs.

#1: What Is It?

Supplemental Dental Insurance is a separate dental insurance plan that helps cover dental expenses. It can work with your existing health insurance policy to reduce your out-of-pocket expenses for dental coverage.

#2: How Can It Benefit You?

Supplemental Dental Insurance is a cost-cutting method that can lower the amount of money you owe out-of-pocket when paying for dental work. It can be purchased at very reasonable rates, and some policies provide coverage for services such as orthodontics, teeth whitening, and dental implants. Some supplemental dental insurance plans also offer the following:

A decrease in out-of-pocket payments
No annual maximums
No waiting period

#3: How Much Does It Cost?

According to Forbes, if dental coverage isn’t provided by your employer, dental insurance will run between $12 and $50 a month, per person. Other policies require a yearly fee that then allows you to visit member dentists for reduced rates. These plans can run between $75 and $100 per person each year.

When you are ready to shop for supplemental dental insurance, give me a call. As a HealthMarkets agent, I can help you find a dental insurance plan that works with your budget. I can study your current health insurance policy, your budget, and help you pinpoint a cost-effective insurance plan.

HMIA001031

Do I Need Life Insurance? Choosing the Best Insurance for Every Life Stage

Fri, 08 Jan 2021 22:35:14 GMT

You cherish the moments you spend with your family. Every birthday and holiday get-together reminds you of what’s really important in life. These special times are what your family may remember about your life together after you’re gone. So when asking yourself “do I need life insurance,” think about the legacy you want to leave behind. Think about helping to provide your family with financial security for many years to come.

Why Do I Need Life Insurance?

The value you provide to your loved ones can never be replaced. You are the heartbeat of the family who keeps things going. But life can be unpredictable. We all want to live to a ripe old age, but sometimes, we pass on too soon. In the unfortunate event your family will have to go on with life without you, the need to keep a roof over their head won’t end. Bills have to be paid, kids have to go to school, and the dog has to get his vet check-up. When you look at things this way, you realize that you have to protect your family’s financial future. This is where life insurance comes in. It can help your family pay for expenses like a mortgage or your child’s college education.

But there’s more to life insurance than just the death benefit it pays to your beneficiaries. A life insurance policy can also build cash and/or loan value, which means you can get money or borrow from the policy while you’re still alive. This financial tool is available with permanent insurance policies, which provide lifetime insurance or coverage up to a certain age (such as 95 or 100).

When you think about the value that life insurance offers you and your family, it may be easier to answer the question “do I need life insurance?”

But sometimes, it is not this question that stays in your thoughts. It’s the, “I don’t need life insurance because …” that can make you question if you need it. It may be that there are some people who don’t need this coverage after all. But for the ones who do need it, but think they don’t, it can be because of myths they have about life insurance. Getting things straight about these myths may help you better decide if you should get coverage and how to choose life insurance that fits your needs.

Overcoming Common Myths about Getting Life Insurance

According to LIMRA’s 2015 Facts About Life, many people without life insurance agree they need it. Yet, some don’t get it because of common myths they have about purchasing a policy. This article will guide you through these myths so you can make an informed decision about why do you need life insurance. These are some of the most common reasons why people don’t get life insurance:

It costs too much. This is the number one reason why Americans aren’t purchasing coverage, according to a 2015 study from Life Happens and LIMRA . But the fact is, 80% of people overestimate the cost . Millennials are among the different age groups who think life insurance costs way more than it does. In the study, those under age 25 estimated that a healthy 30-year-old with a $250,000 level term policy would pay $600 a year. This price was about 4 times more than what that plan would really cost, which is about $160 a year.
I’m single and have no dependents. Unless your family has a lot of money, you may still want to get insurance that could at least cover your funeral expenses . If you have personal debts that someone else could become responsible for after you die, you should consider getting a policy.
Only the breadwinner needs insurance; my stay-at-home spouse doesn’t. Some may agree that a stay-at-home spouse works more than 40 hours a week. With all the cooking, cleaning, grocery shopping, plus traveling to doctor’s appointments and putting bandages on cuts if you have kids, the value that a stay-at-home spouse makes may be priceless. But what would happen if the homemaker in the family dies? How would the million and one things he or she does be paid for? Money from a life insurance policy on a homemaker could help cover the new expenses that the homemaker previously provided (free of charge) when he or she was alive.
I get insurance through my job. The average life insurance policy from a job pays $50,000 if the employee dies, according to Time Magazine . That amount may not be enough to replace your income if you have a spouse, children, or debts. However, Investopedia notes that if no one depends on you for income and you live a modest lifestyle, a workplace plan may be enough for you.
I’m young and healthy, so I don’t need to worry about dying. If this describes you, you may be thinking, “why do I need life insurance?” But when it comes to life coverage, waiting until your health starts to get worse is not the best time to seek coverage. Young people in good health usually pay less for insurance. Plus, poor health and old age are not the only things that could lead to your death. In fact, motor vehicle accidents are the primary cause of death in the U.S.—and other accidental injuries like falls and murders are also some of the leading causes of death for people under age 44, according to the Centers for Disease Control (CDC) and Prevention .
I’m not healthy enough. Poor health is not an automatic denial for coverage. With certain types of life insurance , you can get a policy without taking a medical exam (these are known as simplified issue policies). These policies usually come at a higher cost, but can still provide you with insurance protection nonetheless. There are also several insurance companies that provide policies for certain health conditions . According to the 2012 LifeJacket Study from Genworth, common conditions for which people can get life insurance include hypertension, high cholesterol, sleep apnea, obesity, asthma, anxiety, and depression.
I have plenty of assets that can support my family’s needs. The value of your assets may be enough to financially support your family for several years. But if you were to die suddenly, your “assets may not be easily transferred into cash,” as noted by published author and CEO, Wm. Scott Page, in a Huffington Post article . Mr. Page also writes that wealthy individuals with a lot of assets get life insurance for three main reasons:
Liquidity, which is how fast you can get cash from an asset
Income replacement
Wealth transfer

If your assets are part of a business, and you want to leave your business to your survivors, they would need to know how to run your company to get long-term income from it. If you’re married and run a construction company, for example, would your surviving spouse be able to continue the family business? If you have adult children, do they have the skills or even the interest to carry on the company you’ve worked hard to build? What about if you have young children? Is it likely that your company would last long enough for them to take over ownership when they grow up? With these things in mind, having assets may be an unsuitable reason to not get life insurance .

Life Insurance That Fits Your Needs

Sometimes, it’s not the “why do I need life insurance?” that is difficult to answer. It’s the “how do I choose the right life insurance plan?” that can make thinking about insurance seem over your head. This is why insurance agents like me are here. We’re here to help you understand the basics about life insurance so you can decide what’s right for you. To get you started, let’s discuss different types of life products and who they may be a good fit for.

Tips on How to Choose the Right Insurance

Know your needs—do you only want to cover your burial costs or provide your family with replacement income to pay for long-term living expenses?
Understand insurance types—do you only need insurance for a specific number of years or for a lifetime?
Know what factors determine the costs—age, personal health, family health history, gender, smoking habits, lifestyle, and occupation
Compare different rates to make sure you’re getting a policy you can afford
Get in touch with me to talk about your unique needs

When Choosing Term Life Insurance May Be Best

When you’re faced with the question, “do I need life insurance,” term life insurance can be a good place to start. A term plan is a simple type of life insurance because its only purpose is to pay out a death benefit to your beneficiary if you die during the term of the policy. It’s also one of the most affordable life insurance options available. Another bonus with term insurance is that most policies can be set up to switch to permanent coverage when the term ends. So if you’re on a budget, you can get a lower-cost policy now without worrying about losing coverage later in life.

You typically need to take a medical exam to get a term plan—doing this could save you money on premiums if you’re in good health. The other option is to skip the medical exam by going with a simplified issue policy that only requires answering a few health questions—the downside is you will likely pay more on premiums.

Unlike permanent insurance, term policies last for a specific time frame. You can get coverage for one year at a time (called annual renewable term), which may work for you if you’re unsure about how long you need insurance, but these plans are very rarely offered. There are other term life insurance types that provide longer coverage, usually from 5 to 30 years.

Although most can enroll in a term plan up to a certain age (usually 70 or 80 ), this type of coverage may be better for certain groups of people:

Let’s look at when is life insurance necessary as it relates to term insurance.

You’re young and married with kids. According to USA Today, term life insurance can be a good fit for young families. Having a young family is usually the time when you need the most life insurance, as mentioned in a recent article from ConsumerReports . This is because it would take a larger death benefit to replace the loss of your income after you’re gone.

If you have a 5-year-old for example, you’re probably looking at another 20 years of care until your child starts earning enough money to make it on their own. If you were to die before your kids grow up, your family would need a lot of money to cover major expenses like a mortgage or college education. Even if both you and your spouse work, it may be hard to get by on one income. If one of you stays home to take care of the kids, and he or she dies, that’s an extra expense to pay for child care services.

Also keep in mind that child care often costs more for younger children. And your budget may already be tight after paying for things like your rent or mortgage, car note, gas, and credit card debt. With all these expenses, a term plan offers the opportunity to get the most coverage at a cost that won’t break the bank.

You may be wondering how much coverage you should get when purchasing life insurance . The exact amount that would be right for your needs can only be determined by a licensed insurance agent. But for example, if you need $20,000 a year for more than 20 years, buying a $500,000 policy may work for you. You can also use this life insurance calculator from Bankrate to roughly estimate how much insurance you may need.

You’re married with no kids. Even without little ones running about, you may still need replacement income if one of you dies. Many Americans rely on two incomes to survive, so you may not be able to maintain the same living standard on just one. You may also be thinking about having kids soon. Some insurance companies don’t issue policies to pregnant women —so before you have children, and while you’re younger, may be a better time to get a policy.

According to Bankrate , term insurance can be a good fit for married couples without children because of its economic value. If you’re in your 20s or 30s, for example, both you and your spouse could buy a 30-year term policy that converts to permanent coverage. A policy like this could replace your income and build cash value you could use in your retirement years.

You’re a single-parent. Being a single-parent isn’t easy, especially when it comes to finances. Even if you get child support, it may not be enough to replace your income after you’re gone. So if you’re a single-parent thinking “do I need life insurance,” the answer is yes.

A term plan is usually the cheapest option for single-parents, according to a report from ABC News. A 20-year term policy for a healthy 33-year-old female valued at $500,000 could cost $240 a year . When divided by 12 months in a year, this works out to $20 a month. If you died before your children become adults, the policy could help pay for their expenses up until or through the college years. If naming your child as the beneficiary , it’s advisable that you also name an adult who will be responsible for the funds. If not, it can be expensive for the court to appoint someone. One way you can avoid the courts getting involved is to set up a custodianship.

You’re single with no children, but have other dependents. There are times when singles with no children have to support someone else. This can include taking care of a younger sibling, relative, or parent. Term insurance can be a suitable choice because it’s designed for short-term needs. The kids you’re raising will grow up and starting making their own income and your parent, though unfortunate, may not live for very long.

When it comes to choosing a life policy , there are different ways you can go about it. You could get a policy on yourself and make another adult the beneficiary, or you can take out a policy on your parent and name yourself as the beneficiary. If you get a policy on your parent, the death benefit you receive can help pay for debts like medical bills or a mortgage left behind. You may need to show the insurance company proof that you will suffer some type of financial loss upon your parent’s death to get a policy.

You’re young and single with no dependents. If you’re a young, single person with no dependents, you may be thinking, “why do I need life insurance?” Although most singles don’t need life insurance, having it can benefit your family. As a young single who may have graduated college or are trying to build your credit, there may be times someone, like a parent, had to cosign on a loan for you. This can include student or car loans.

If you were to die, that person would become responsible for those debts. And if your family lives on a modest income, it may be a burden to cover your funeral expenses plus those debts. Investopedia recommends purchasing an inexpensive life insurance policy that can cover your final expenses. Term insurance can be a good fit since it’s usually more affordable for younger folks.

Choosing Either Term or Permanent Life Insurance (or Both)

There are certain stages in life when both a term plan and permanent insurance policy can be suitable. The latter part of life and being a business owner are some of those stages. Both types of coverage have pros and cons for each stage.

Life Insurance After 50

Typically, both term and permanent insurance can be suitable for people over 50. But depending on the age range, one may be more preferable. An important thing to take note of is that buying life insurance after 50 generally cost more . Term insurance premiums for people over age 50 can become more and more expensive over time, according to a CBS News article . Although, if you’re past this age and getting a permanent plan for the first time, it may not come cheap.

Tips on Getting Lower Life Insurance Rates

Work on your health—exercise more, quit smoking, consume less alcohol, etc.
Don’t put off getting a policy—age is often the most important factor in cost
Consider if you want to stop any risky hobbies—skydiving, scuba-diving, rock climbing, etc.
Let the insurance company know if you’ve retired from a hazardous job like mining, deep-sea fishing, or roofing

A type of permanent insurance that may be cost-effective in the long run is whole life insurance. This is because premiums stay the same for the entire policy. With this policy however, it usually takes 8 to 10 years to build cash value, according to Kiplinger Magazine . There are other types of permanent life insurance , such as universal life and variable life. You can find out which insurance would suit you best from a licensed insurance agent .

If you’re still thinking “do I need life insurance if I’m over 50,” here are some things to consider that could help you make that decision:

Do you have enough money in retirement savings that can meet your living expenses for the rest of your life?
After you’re gone, can your savings cover the living expenses for those you leave behind?
Do you still have major debts to pay off?

These questions may be more of a concern if your kids have recently left home or if you’re already retired.

Let’s look at these categories to learn more about who needs life insurance.

You’re a recent empty-nester. Although the kids are out of the nest, there may still be a mortgage to pay off or a spouse that depends on your income. You may even have an elderly parent or a disabled adult child that relies on you for financial support. If you’re saving for retirement, you may not be able to withdraw any funds until a certain age, usually 65. During this stage in your life, it may be a little hard to figure out what type of life insurance you should get.

Choosing term insurance: according to a Fox Business article, getting term insurance in your 50s or 60s, can still be an economical choice; although, it’s more ideal to get it in your 50s. This is also a good time to get a term plan that converts to permanent coverage because insurance companies usually only let you to do this before you turn 65.
Choosing permanent insurance: if you want to get permanent insurance because of the cash value, consider this: men and women live up to about 79 years on average. Since it could take up to 10 years to start earning cash value if you have a whole life policy , getting this coverage in your 50s gives you more time to live long enough to reap the benefits. In a Bankrate article , fee-only financial consultant Glenn Daily mentions that there are other options those in their 50s can consider. One option is to do without term coverage and get more insurance with a universal life policy, which provides more flexible premiums. The advantage with this type of insurance is you can adjust the benefit amount to make your premium lower.
Combining both term and permanent insurance: in the same article, Daily suggests that another option for those over 50 is to get a modest universal life policy and add a term life rider. The potential benefit in doing this is you would have insurance to cover your income if you were to die, and also have a policy that builds cash value you could use to supplement your retirement income.

You’re a retiree. You may be thinking, “if I already have enough retirement savings and assets to support me throughout my life, do I need life insurance?” Typically no. This is because life insurance is meant to end at retirement if you’ve done proper financial planning. But, there are situations when getting life insurance as a senior citizen may be to your benefit. For example, if you have large estates that are not easily liquidated, a life policy could help with estate taxes.

If you don’t have enough money for retirement, you may need life insurance to provide a death benefit if your spouse outlives you, especially if there are not enough savings or pension benefits that your widowed spouse can use to meet living expenses.

Choosing term insurance: if you’re still in your 60s, term insurance can be suitable. Keep in mind that 80-years-old is usually the maximum age to get this type of coverage. So you may want to get a plan with a shorter term, such as a 5, 10, or 15 years. Kiplinger Magazine recommends that retirees can get a term plan that converts to permanent life insurance. But since converting a term policy to permanent insurance typically stops at age 65 , there’s a chance you may not be able to get a term policy that has this conversion feature. If you’re age 60, for example, you may be able to get a 5-year term plan that can convert to a permanent plan when the policy ends. You should check with the insurance company to determine if they offer policy conversion beyond age 65.
When you need life insurance that provides permanent coverage: according to Kiplinger Magazine, if your pension doesn’t provide a death benefit for your surviving spouse, you have a special-needs child who requires life-long care, or you want to provide an asset that can be liquidated as cash your heirs could use to buy a stake in a business, you may need insurance that covers you for your entire life. Another reason you may want to get a permanent policy is to leave a legacy for your children, grandchildren, or a charity.
Getting burial insurance: burial insurance, also called final expense insurance , is usually a whole life policy that provides a death benefit ranging from $5,000 to $25,000, according to the Insurance Information Institute . The Institute also mentions that this policy can be set up to help cover your burial and funeral expenses, as well as for the whole family. A medical exam is usually not required for these types of policies—you would just answer a few health questions on the policy application. Burial insurance can be a good way to help make sure your family won’t have a financial burden to pay for your final expenses and any debt you may leave behind.

Life Insurance as a Business Owner

Are you asking “do I need life insurance as a business owner?” The answer may be yes. Just as you would get life insurance to help make sure your loved ones will be taken care of financially after your gone, you may also need life insurance to keep your business going in the event, you, a business partner, or a key employee were to die. You could get a policy that has both your spouse and a business partner as the beneficiaries, with each getting a predetermined percentage of the death benefit . Or, you could get a separate policy where the business partner is the only beneficiary.

Whichever way you choose, your family can get their own death benefit payout to replace your income, and your business partner can get the money needed to buy out your interests in the company or to buy out your heirs. This is called a buy sell-agreement , and the price that partners would pay for your interests is pre-arranged. This would also apply to your partners where they get a policy that has you as the beneficiary.

You could also get a life policy on a key employee, so that in the event that person dies, your company has the cash flow to keep the business going until a replacement is found.

Choosing term insurance: term coverage can be a cheaper option, and is best if you plan to run the business for a certain period of time, or if there is a specific date in the near future that you, a partner, or key employee will retire. There can be an agreement that if either partner dies before retirement, the other will buy out the interests of the deceased. Or if a key employee dies, then the death benefit could supplement the loss in earnings the employee brought into your company or to cover the salary of a replacement.
Choosing permanent insurance: if you, a co-owner, or a key employee plan to run the business for a lifetime, permanent insurance may be a better choice. Although it could be more expensive, you wouldn’t have the risk of a partner or key employee outliving the policy if you were to choose term coverage.

Life Insurance Facts and Figures

Most Americans have insurance. But there are still many who are either uninsured or don’t have enough coverage. Seeing these facts and figures may help show you where you fit within certain demographics.

Make Sure to Consult an Agent

This article can be used as a starting point to answer your question, “do I need life insurance?” It shouldn’t be used as a replacement for consulting a licensed insurance agent. You may have specific needs that are not mentioned in this article. I can help you figure out when life insurance is necessary for you and what type of life policy would most fit your needs. Just give me a call.

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Life Insurance 101: All the Basics You Need to Know About

Fri, 08 Jan 2021 21:12:24 GMT

There are many things to consider when it comes to getting a life insurance policy that can help protect your family’s future financial needs. This life insurance 101 guide can help make it easier to understand the basics about how life insurance works, types of coverage available, why you need it, and how to go about choosing a plan that’s right for you. After you read this guide, use the online agent locator to find a HealthMarkets agent near you who can give you more information about how different life insurance plans can help provide financial security for your loved ones.

What is Life Insurance and How Does it Work?

Life insurance is a contract between you and an insurance company to provide you with coverage based upon your timely payment of premiums . Life insurance provides a death benefit to your named beneficiary (usually a spouse) upon your death. When you pass away, your beneficiary files a claim with the insurance company to submit proof (a death certificate) of your passing. If there is an agent who usually works with your family, your beneficiary can contact the agent who will help him or her complete the necessary paperwork. Or, your beneficiary can contact the insurance company directly and a claims representative will instruct him or her on what to do. After the insurance company receives all the documents, then your beneficiary will be issued the death benefit payout.

If you name a child as your beneficiary , then a custodian of the policy would have to file the claim. This could be someone who you named to manage the money from the policy in case you died while your child is still a minor. If you didn’t name anyone, then a court will appoint someone.

Main Types of Life Insurance

Life insurance can either be temporary or permanent. Temporary insurance is more commonly called term insurance, and policies are issued for a specific number of years, often from 5 to 30. Permanent insurance covers you for your entire life or up to a certain age, usually 100-years-old.

Some of the life insurance 101 basics you need to know are the main differences between term and permanent life insurance.

Types of Term and Permanent Insurance

Practically all term insurance policies sold to individual consumers are level premium term policies. This type of policy guarantees that your premium will stay the same for a set period of time, which could be the entire term or just a portion. Other less common types of term insurance include annual renewable term and decreasing term coverage. The majority of insurance companies don’t offer these plans to individual insurance shoppers because they are generally not the best fit for families looking for the most protection.

Two of the most popular types of permanent insurance are whole life and universal life. Most whole life policies provide a level premium, so the rate that you pay stays the same for the entire policy. With most life insurance policies, you can get a larger death benefit by passing a medical exam. Other permanent insurance policies available include variable life and variable-universal life.

How Life Insurance Policies Are Issued

Policies are either simplified issue or fully underwritten. Simplified issue policies only require that you answer questions about your health when completing the insurance application. These policies may cost more since the insurance company has less proof about your health. Fully underwritten policies require that you take a medical exam and complete lab work. You usually get a lower premium with these policies if your results show good health.

Factors That Determine Your Premium Rate

A general rule of thumb with life insurance 101 is that the younger and healthier you are, the less you will pay. Age is typically the most important factor in calculating your premium rate. Other factors include:

Gender—females typically get lower rates because of longer life expectancy
Answers to health questions on the policy application
Results from medical exam and lab work
Family medical history
Marital status
Location
Lifestyle—smoker/nonsmoker, alcohol consumption, risky hobbies like skydiving

Why Do I Need Life Insurance?

There are three main reasons why many Americans get life insurance:

To pay for burial and final expenses: even a simple funeral can cost thousands of dollars. The National Funeral Directors Association reports that the median price Americans pay for a funeral is $7,181, as of 2014. When you include the price of a vault, something that most cemeteries require, this comes out to a median price of $8,508. About 51% of Americans get life insurance for this reason, according to LIMRA.
To replace income: if you died leaving behind a spouse and young children, it may be hard for them to make ends meet without your income. Money from a life insurance policy can help maintain your family’s standard of living and pay for expenses that go along with raising children. LIMRA reports that 34% of American households get life insurance for this reason.
To pay off a mortgage: a large part of your working adult life is dedicated to paying off the mortgage on your house, which can take 30 or more years. Life insurance can help ease the financial burden your family may face to keep a roof over their head after you’re gone. Money from a policy can help them continue to make monthly payments or pay off the entire balance. LIMRA states that 26% of Americans get life insurance for this reason.

How to Buy Life Insurance

Determine your needs: calculate how much debt you have, your monthly living expenses, and your final expenses. Include any future expenses, such as college tuition. Figure out how long you need replacement income and how much income it would take for your survivors to pay for immediate and future expenses.
Get a quote from different insurance companies: compare rates, policy features, and benefits to make sure you’re getting the best deal
Choose a company with a strong financial rating: companies with the highest ratings offer more guarantee that they will have the finances to pay your claim. You can get financial strength ratings from rating agencies like A.M. Best Company.
Make an appointment with an agent: after you narrow down your search to a specific company, speak with a licensed agent to go over more details about your needs.
Make sure you can afford the premium: double check how much income you have coming in and how much expenses you have going out to make sure the rate you’re getting is affordable.
Read your policy: after you’ve been issued a policy, make sure you read all the fine print. If you don’t like your policy, state laws generally mandate that you have a certain number of days to cancel your policy and receive a refund of any premiums you paid. Depending on the state, this may be within 10 to 30 days after the policy issue date.

Understanding the Life Chart

A part of life insurance 101 is knowing when you should choose term or permanent life insurance. The Life Chart can help show you where you fit as it relates to needing a larger or smaller amount of coverage and what type of life insurance would best fit your needs. This is also a good way to answer the question “ do I need life insurance ?”

Young and married with small children: young families need the most death benefit from a life policy because the need for income replacement that can cover the expenses for growing children is greater. Also, if a spouse who stays home to take care of the kids were to die, it would be an additional expense for the surviving spouse to pay for child care services. A term plan is typically the cheapest option to get the most coverage. Longer term policies like the 20-year or 30-year plan can be the most suitable for young families.

Young and married with no children: if both you and your spouse work and household expenses are shared equally, you may not need life insurance. But depending on your lifestyle, it may be hard to maintain the same standard of living if one of you were no longer around. According to a Kiplinger Magazine article, a modest amount of coverage may be enough to meet your needs. Since term policies allow you to get just the basic amount of coverage you need, you can pick a plan with a lower death benefit to get a more affordable rate.

Single-Parent: like young couples with children, single-parents who have younger kids also need a policy that provides a large death benefit. Studies show that most single-parents are women, and the average salary single-mothers earned as of 2014 was $36,780, according to Forbes Magazine. This is far less than the average wage for married couples with children under 18, which is about $107,054 (as of 2013). With less income among the majority of single-parents, it’s more likely that there wouldn’t be enough savings that could be used as income replacement if the parent dies. The life insurance 101 basic step in this situation is to get a low-cost life insurance policy that can provide the most protection. The lower cost of term insurance makes it a good choice for single-parents.

Recent empty-nester: so the kids are off to college, but that doesn’t mean your life insurance needs end. You may need to support your children through the college years to help pay for tuition, room and board, books, or even clothing. If your household runs on two incomes and you still have major debts to pay off like a mortgage, you need the protection of income replacement. Depending on your age, you may also have a while to go before you have enough retirement savings.

At this stage in life, a policy that has a death benefit your spouse could use to cover expenses if one of you dies. The policy can also build cash value to supplement your retirement savings may be the most suitable. You could choose to go with a term plan that converts to permanent insurance or go straight for a permanent policy depending on your needs. For example, if you’re 55 and looking to have cash value in a policy by the time you’re 65, then a permanent plan may be best because it could take that long for the policy to build cash value. This usually takes 8 to 10 years for whole life insurance policies, according to a Kiplinger Magazine article.

If you don’t need supplemental income as fast, you could get a 10-year convertible term plan. So by the time you’re 65, you could have a whole life policy, and when you reach 75, you could have cash value in the policy. One thing to keep in mind when converting a term plan is that insurance companies usually only allow you to do this before you turn 65, according to the Texas Department of Insurance.

Retired senior citizen: if you have the finances to get you through retirement and provide for your spouse if you die, then you don’t need life insurance. If this doesn’t apply, then getting a life policy may be necessary. If you’re under 80, you can still get a term life insurance plan. This is typically the maximum age in which insurance companies provide term coverage, as mentioned by the Texas Department of Insurance. Although the cost would be more expensive because you’re older, premiums are usually lower than a permanent insurance policy, such as whole life.

If you need a policy that can help supplement your retirement savings, then the cash value from a permanent plan may meet your needs. Keep in mind that it does take a while to build cash value. So depending on your age, you may want to weigh the odds of whether or not you will be around long enough to take advantage of this feature. A type of permanent insurance you could also choose is final expense insurance , which is typically offered as a whole life policy. This type of coverage is only meant to cover your burial and funeral expenses, not your long-term financial needs.

Find out more life insurance 101 basics in getting life coverage as a senior citizen .

Making a Decision

Now that you’ve learned the basics with this life insurance 101 guide, it should be easier for you to make a decision about what type of coverage you should get. I can help provide you with more guidance on making that decision, and answer any questions you may have. Give me a call today to set up an appointment.

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What Is Term Insurance and Is It Right For You?

Fri, 08 Jan 2021 20:28:58 GMT

Getting life insurance could provide your loved ones with financial protection from the loss of your income after you’re gone. More than 40 percent of American households (that’s 4 out of 10) would feel a financial impact within six months of the primary wage earner’s death, according to LIMRA. So, money from an insurance policy that could help your family cover expenses like a mortgage or car loan may be reasons to consider getting a term life insurance plan. But what is term insurance anyway, and how do you know if it’s right for you?

Term Insurance Basics

Term insurance is a type of life insurance plan that provides coverage for a specific length of time. Coverage length can be as little as one year (though rarely offered), 5, 10, 20, or up to 30 years. The main feature of a term insurance plan is that a death benefit is paid out to the beneficiary if the insured dies with an active policy.

Let’s look at an example of how this works. Policyholder Jack has a 10-year term plan valued at $250,000 with an expiration date of December 31, 2026. If Jack were to die on December 31, 2026, and his policy is active, then Jack’s beneficiary could receive the full death benefit amount of $250,000.

If however Jack dies a day later on January 1, 2027, and the policy wasn’t set up to renew, his beneficiary would not receive any payout.

Term Insurance at a Glance

Offers affordable life insurance coverage for when you need it
Coverage option without medical exam available
Choose a 5-, 10-, 15-, 25-, or 30-year plan
Typically suitable for younger persons and families to help protect against lost income if breadwinner dies
Plans don’t have a cash value investment, which usually makes the cost lower than permanent life insurance

Is a Term Plan Right For Me?

It depends on your needs. Term insurance is essentially a temporary life insurance plan and is typically used to meet future short-term needs. Money set aside to pay for your child’s college education, in case something were to happen to you, is a short-term need that a term life policy could be suitable for.

Understanding what is term insurance is important in knowing if it’s the right plan for you, so here are some things to consider that may help you decide:

Your budget: one of the attractive features of term life insurance is that it’s usually inexpensive when you initially get the coverage. So if your monthly income isn’t that much more than your monthly expenses, this plan may be a good fit for your budget.

Your family life: if you have young children or other dependents who rely on your income, then you generally need to have a lot of life insurance coverage, according to a publication from ConsumerReports. Having a young family is usually a time when you need the most death benefit. So a term policy could allow you to purchase a greater amount of coverage for the most ‘bang-for-your-buck’.

Your debt: the amount of time it would take to pay off your outstanding debts could help you decide if term coverage is right for you. Let’s say you have a car note that will take another four years to pay off, credit card debt that could be paid off in two years, and a mortgage that has 15 more years of payments left. Using this example, your short-term future debt expenses will last at least 15 years. This length of time fits within the range of a term plan, which is usually 5 to 30 years.

Do I Need to Take a Medical Exam?

If you get a simplified issue policy, then you don’t need to visit a doctor to complete a physical or have lab work done. Your coverage eligibility is based on your answers to a few health questions.

However, if you want to take advantage of getting a lower premium because you’re in good health, then you could choose to have a fully underwritten policy. This type of policy requires that you do a complete physical exam and lab work before your policy can be issued.

How Much Does It Cost?

The cost of a term insurance policy is dependent on factors like your age, health, if you’re a smoker/nonsmoker, and the amount of death benefit you choose. There are other factors that can influence your term life insurance quote. But like many insurance policies, premiums are generally lower the younger and healthier you are.

Using policyholder Jack as an example, let’s look at how his age and health could affect the cost of a term plan:

If Jack is in good health and buys a policy with a fixed annual premium and death benefit of $250,000 at age 35, he might pay $215 a year in premiums. If Jack waits until he’s 50 years-old, but still in good health, he might pay around $645 annually to get the same coverage. By age 65, this same policy could cost Jack approximately $3,870 per year.

Still need to know more about what a term insurance plan is to see how it compares to the cost of permanent life insurance?

Let’s look at an example on the difference in cost.

If at age 35, Jack decides he wants to buy a permanent life insurance policy with the same benefit amount of $250,000, Jack could be looking at about $2,150 in annual premium costs—approximately 10 times the amount of his annual $215 premium for a term life policy.

How Much Term Life Coverage Should I Get?

The amount of coverage you need depends on factors like your age, marital status, number of dependents, and living expenses. Some financial sources like CNN Money suggest that your death benefit should be 7 to 10 times greater than your annual salary. This may work for people over 40-years-old who typically need less death benefit because their children are older. But this may not be sufficient for a young married couple with small children, whose death benefit needs are much greater. For a young family in their 20s, insurance companies usually allow a death benefit that’s up to 30 times greater than their annual salary, while a young family in their 30s could get a death benefit up to 20 times above their yearly wages.

Some things you would want to keep in mind when estimating how much term life coverage you should get are:

The amount of income or type of lifestyle you want to provide for your spouse and/or dependents
How long you expect your children to be at home—do they have several years of schooling left or are they about to graduate and move out on their own?
Amount of debt you have—mortgage, car loans, student loans, etc.
Other income you receive from things like rental properties
Money you have in assets—savings, mutual funds, stocks, or retirement accounts

Once you come to an approximate number of how much money you would need to meet your family’s future expenses on a monthly or yearly basis, subtract any money you have in assets and additional income you get from other sources. The resulting number is the gap that you would want to fill with life insurance.

If this number is $30,000 for instance, then you may need 7 to 10 times that amount in term insurance coverage, which would be $210,000 to $300,000. If you need up to 30 times your annual wage, that would be $900,000.

Another way to determine how much coverage you should get is to look at:

The immediate financial needs your family would have upon your death—funeral expenses, rent, mortgage, medical bills, etc.
The amount of money it would take to sustain your family for a set number of years. For instance, how much it would cost to support your kids until they’re adults or your spouse until he or she has access to retirement funds.

By breaking it down into these two categories: immediate expenses and future expenses, you may find it easier to calculate your insurance needs. A nonprofit organization, called Life Happens, offers an online life insurance calculator you can use to estimate how much coverage you should get based on your family’s expenses.

Are There Different Types of Term Insurance?

Yes. There are two types of term life insurance plans.

Level Premium Term: this type of policy usually guarantees that your premium rate will stay the same from the time you enroll to the end of the policy term. So if you get a 20-year policy with an annual premium of $250, you may have this rate for all 20 years. Almost all term insurance sold are level premium term plans because it offers the best life insurance protection at an affordable cost.

Annual Renewal Term: this type of term plan is rarely offered to individual consumers because it provides the least protection to meet a family’s insurance needs. Annual renewable term policies are usually available through state insurance departments for business life insurance purposes.

Learn more about term life insurance types to see which one best fits your needs.

Do All Term Insurance Plans Pay Out The Same?

No. There are three types of payout structures available for term life insurance plans.

Level Term Coverage: level here means that the death benefit amount for the policy stays the same throughout the plan term. Let’s say you have a 10-year term with $100,000 in death benefits. Regardless if you die in year one, five, or 10, your beneficiary still gets the full benefit amount. This is the type of coverage offered by most insurers.

Increasing Term Coverage: this type of coverage is rarely available; most insurance companies don’t offer these policies to individual consumers. Policies are usually offered through group life insurance plans that an employer would provide. How it works is the death benefit increases over the length of the policy at a set rate. For example, a 10-year plan with a death benefit of $100,000 could be set to increase by $10,000 each year. With this payout structure, you should keep in mind that as the death benefit increases each year, your premium will also likely increase.

Decreasing Term Coverage: this is another rare type of coverage for individual consumers that is not provided by the majority of life insurance companies. With this coverage, you can set the death benefit to decrease by a certain amount each year. For example, you can set your $100,000 death benefit to decrease by $5,000 a year over the course of the term. This payout structure may be a good match if you expect your living expenses to decrease within the policy term.

What Happens When the Term of the Policy Ends?

It depends. If you elect to renew the policy , then you will continue to have coverage for however many years you select (1, 5, 10, 20, or more). Keep in mind that insurance companies typically only provide coverage up to a certain age, usually 70 or 80, according to the Texas Department of Insurance. So if you’re 55 and want to get a 30-year term insurance plan, that would put you at age 85 by the time the plan expires—so an insurance company may only let you select a plan that has a less than 25-year term.

Another thing to keep in mind is that your premium may increase when you renew, even if you initially selected a level premium term policy. This is because the lock-in rate for your premium is only good for the term of the original policy.

Let’s say you had a 30-year term plan with a guaranteed premium rate of $300 a year. After the 30 years expire, you elect to renew for a 10-year term. Your premium for the 10-year term could stay the same, but it’s more likely that it will increase.

The Texas Department of Insurance also notes that an insurance company must renew your policy even if you no longer meet their underwriting requirements. This means that you can extend your coverage, despite your current health condition, without the need to pass a medical exam.

Another thing that could happen after your term plan ends it that it could convert to a permanent life insurance policy , even if your health has changed. According to Investopedia, this is typically a built-in feature for most term plans. Before you purchase a plan , you should check with your insurance agent to see if this feature is included.

When you convert term coverage to permanent insurance, you usually can keep the same coverage amount. So if you had a $250,000 term plan, you could convert that same amount to a permanent life plan —typically without having to provide answers to any insurance questions about your health history. The ability to convert from term to permanent coverage can be a major advantage to you, especially if your health has declined.

This article has covered a lot on “what is term insurance”, but to get more answers that apply to your specific financial and insurance coverage needs, I recommend speaking with a knowledgeable life insurance agent.

Give me a call today so that I can help answer your specific questions on choosing a term life insurance plan today!

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How to Choose the Best Medicare Supplement Plan

Fri, 08 Jan 2021 19:39:07 GMT

Original Medicare can leave gaps in your coverage. These gaps can leave you on the hook for many out-of-pocket costs, but there are products that can help. Medicare Supplement plans help fill the gaps in Original Medicare coverage, and there are a number of options to choose from. In order to choose the best Medicare Supplement plan for your needs, you first need to learn about your options.

What Are My Options, and Which Is the Best Medicare Supplement Plan for Me?

A Medicare Supplement plan, also called Medigap, is sold through private insurance companies. It’s designed to help with costs left over after Original Medicare benefits are applied. That means you can only use a Medigap plan if you have Original Medicare, Parts A and B. In fact, almost one in four people on Medicare choose a Medigap plan to help with their healthcare costs.

There are 11 different Medicare Supplement plans: A. B, C, D, F, F+, G, K, L, M, and N. Each Medicare Supplement plan must include the same standardized benefits (meaning all Medigap Plan Ns offer the same coverage) regardless of carrier and location*. However, different types of Medicare Supplement plans offer different levels of coverage (meaning Plan N offers different coverage than Plan F). Medigap policies are guaranteed renewable, which means they can’t be canceled for health reasons as long as you pay your premiums.

Each plan covers basic benefits, such as:

Coinsurance charges through Medicare Plan A (up to 365 days after Original Medicare benefits are spent)
Hospice care copayments and coinsurance through Medicare Plan A
Copayments and coinsurance through Medicare Plan B
The first three pints of blood needed due to a medical procedure

Most Medicare Supplement plans do not cover:

Vision
Dental
Long term care
Hearing aids
Private-duty nursing
Prescriptions**

In order to choose the best Medicare Supplement plan for your needs, you must be aware of any out-of-pocket costs that come with each plan. These costs can include monthly premiums and yearly deductibles. For an idea about how much these premiums may be, a 2010 report showed that average Medigap premiums started at $140 for Plan A. Additionally, it’s important to note that Medigap plans won’t start to cover your coinsurance until your deductible is met, unless deductibles are also covered. Some plans have annual out-of-pocket spending limits , after which you’re covered 100%. In short, while there is no overall best Medicare Supplement plan, there is a best choice for your priorities and budget. If you need a little help determining what the best Medicare Supplement plan for you is, ask yourself the following questions.

Do you travel a lot?

You’ll probably want to select a plan that offers foreign travel emergency coverage when you’re traveling abroad. Plans C, D, F, G, M, and N pay 80% of qualifying emergency care in foreign countries. Foreign travel coverage begins when you meet your $250 annual deductible. You’re covered for the first 60 days you travel for qualifying care Medicare doesn’t otherwise pay for, with a lifetime limit of $50,000.

Do you want help with Part B costs?

If meeting your Part B deductible can be a hassle, Plan C or F may be the best Medicare Supplement plan for you. Both will help pay your Part B deductible, and Plan F will also kick in on your Part B excess charge (the payment between the Medicare-approved amount and the maximum a doctor can charge). And while all Medicare Supplement plans offer some coverage for Part B coinsurance and copayments, Plan K only covers 50%, and Plan L covers 75%. Plan N covers these costs 100%, with the exception of a $20 office visit copay or $50 emergency room copay in certain situations.

Do you want a plan with an out-of-pocket limit, so you’re protected after you’ve spent a certain amount?

Consider Medicare Supplement Plan K or L. Plan K covers you 100% after you’ve spent $5,120. Plan L kicks in with 100% coverage after spending $2,560. However, keep in mind that these two plans offer the least amount of coverage before you reach the out-of-pocket limit.

Do you want the maximum possible coverage?

Plan F may be the best Medicare Supplement Plan for you, and you’re in good company. Of people who use Medicare, 66% choose Plan F. It gives the most comprehensive coverage of all the Medicare Supplement plans. People with Plan F are 100% covered for all Medicare Supplement benefits, except foreign emergency care. Like other Medigap plans, Plan F covers 80% of qualifying foreign emergency care expenses. There’s also a high-deductible option sometimes known as Plan F+. While high-deductible Plan F comes with lower premium payments, it offers no coverage until the yearly deductible is met.

Do you want to save on premiums and out-of-pocket costs?

Plan G may be your best option. Plan G offers coverage on all Medicare Supplement benefits except Part B deductible costs, and it has a moderate monthly premium.

An Agent Like Me Can Help Find Your Best Medicare Supplement Plan

Contact a HealthMarkets agent, like me, to get answers for your Medicare coverage questions. Sue from Truckee, CA , had this to say about her experience with her agent: “My Insurance Office agent explained the pros and cons of each policy in easy-to-understand terms. I was pleased with his follow-up and the ease of getting all the paperwork done.”

When you’re shopping around for the best Medicare Supplement plan for you, I want to be the first resource to which you turn. As a licensed insurance agent, I will help you find the Medigap plan that best suits your needs and budget. It is my mission to make insurance shopping easy so you can focus on the important things in life. Call me today to get started.

How Does Medicare Advantage Work to Your Advantage?

Fri, 08 Jan 2021 19:27:54 GMT

Are Medicare decisions dragging you down? Medicare parts have simple names, but what’s in a name, really? What do all the letters mean , and how does Medicare Advantage work? Your Medicare options can be tricky to understand and even trickier to access.

Medicare Parts A, B, C, and D all give you different kinds of benefits and can combine in different ways. To top it off, some plans have multiple titles. For instance, Medicare Parts A and B are collectively known as Original Medicare; Medicare Part C is commonly called Medicare Advantage.

You may be approaching the age when you’ll be eligible for Medicare. (That’s usually 65, for those out there whose birthdays sneak up on them.) Perhaps you’ve been automatically enrolled in Original Medicare or are planning to enroll. Whatever your Medicare situation, you almost always have the option of switching to Medicare Advantage if you qualify for Original Medicare. Whether or not the change is to your advantage is up to you, but it’s good to know all about your Medicare options so you can make the best decision.

How Does Medicare Advantage Work?

Medicare Advantage , or Medicare Part C, isn’t one single insurance policy—it’s a collection of many different individual, Medicare-approved health insurance policies offered by private insurance companies. Medicare Advantage plans are required to offer the same benefits as Medicare Part A and Medicare Part B plans.⃰ But whereas Part A and Part B offer a fixed set of benefits based on government regulations, Medicare Advantage plans can offer any additional benefits the private insurance company chooses.

What Do Medicare Advantage Plans Cover?

Like Medicare Part A, Medicare Advantage plans work to cover hospital visits . The benefits associated with hospital visits could include the following.

Surgical procedures
Anesthesia
Medications administered in the hospital
Inpatient mental health

Like Medicare Part B, Medicare Advantage plans work to cover major medical expenses . These could include the following important services and devices.

Checkups at your doctor’s office
Ambulance services to certain facilities
Wheelchairs and other “durable” medical equipment
Outpatient mental health
Clinical research

Medicare Advantage can also cover supplementary expenses . These may include important additions like:

Vision care
Prescription drugs
Wellness programs

How Do I Get Medicare Advantage?

Because of how Medicare Advantage works, private insurance agencies like The Insurance Office can work with you to find an affordable Medicare Advantage plan. As an Insurance Office agent, I have access to a wide variety of plans from national and regional insurance providers. I can personally help you choose the plan that’s right for you—by phone or in person, depending on your preference. It’s my goal to make enrolling in or changing Medicare plans a simple, no-hassle process. To get a Medicare Advantage Plan that works for you, just give me a call and we can get started today.

Medicare Premiums: Each Part Has A Unique Price

Fri, 08 Jan 2021 19:15:45 GMT

If you’re new to Medicare, you’ll soon learn that each part (A, B, C, and D) provides a different set of health insurance benefits. You probably also learn that Medicare premiums are different for each part, too. But how different are they? Find out what each part of Medicare might cost you by reading below.

Medicare Part A Premiums (for Hospital Insurance)

The first part of Original Medicare, Part A covers hospital visits, skilled nursing care, home health care, and hospice care. For most, Medicare Part A comes at no additional cost. This is because most adults have already paid for Medicare Part A. How? Well, if you or your spouse have worked 40 quarters (10 years) or more in the United States, you’ve already paid for Part A’s Medicare premiums through Social Security taxes.

If you haven’t worked for at least 40 quarters in the U.S., you will have to pay a premium for Part A coverage . You can buy into Part A, but premiums could be around $400 per month.

Medicare Part B Premiums (for Medical Insurance)

The second half of Original Medicare, Part B covers doctor visits, preventive services, diagnostic testing, and durable medical equipment (DME). Most elect to enroll in Part B . For the majority of seniors, Part B will cost $135.50 per month. However, the Part B Medicare premium can increase based on your annual income. The possible increase is called the “Income Related Monthly Adjustment Amount (IRMAA).” IRMAA is calculated based on your income 2 years prior to the adjustment year. For example:

Medicare Part C Premiums

Medicare Part C is an alternative choice to Original Medicare. You do not lose your Part A and Part B coverage, and you are still responsible for your Part B premiums. However, you have comprehensive coverage that often covers additional benefits, like prescriptions and dental.

Medicare Part C, or Medicare Advantage, plans often boast no, or low, monthly premiums. Zero dollar Medicare Advantage premiums are available to many. However, some Medicare Advantage options can range up to $100 monthly. The cost will depend on your benefit choices as well as the private insurance company selling the plan. To compare benefits and prices, it is easiest to contact a licensed agent . At no cost to you, an agent can help you find the right balance between Medicare premiums and coverage for your individual needs.

Medicare Part D Premiums (for Prescription Drug Insurance)

Medicare Part D provides coverage for prescription medications, Medicare Part D, like Part C, is sold by private insurance companies. Premiums are low, ranging around $15 – $100 in most areas depending on coverage options. Medicare income limits also apply to Part D, meaning that IRMAA may also increase your Part D Medicare premiums. For example:

Medicare Supplement (Medigap) Premiums

Medicare Supplement plans, often called Medigap plans, are often paired with Original Medicare (Parts A and B). Medigap Plans are also organized by letter (A, B, C, D, F, G, K, L, M, and N). By purchasing a supplementing Medigap plan, seniors can help mitigate many of the out-of-pocket costs left after Original Medicare coverage. For example, many Medigap plans cover coinsurance amounts, copays, and deductibles for Parts A and B.

Because Medigap plans are sold by private insurance companies, and there are different levels of coverage between the plans, prices vary.

Help With Medicare Premiums

There are several programs available to help seniors pay for their Medicare premiums. Some of these programs can also cover copayments, coinsurance, and deductibles. While these programs may not cover all of your medical expenses, they can certainly help.

Extra Help (LIS): This subsidy helps cover Medicare Part D (prescription drug coverage) costs. It can be applied to deductibles, copayments, and premiums up to around $4,000 annually.

Qualified Medicare Beneficiary (QMB) Program: This program can help cover Part A and B premiums and out-of-pocket costs (deductibles, coinsurance, and copayments).

Specified Low-income Medicare Beneficiary (SLMB) Program: This program can help cover Part B premiums.

Qualified Individuals (QI) Program: This program can help cover Part B premiums.

Qualified Disabled and Working Individuals (QDWI) Program: This program can help working disabled people less than 65 years old and those who have lost their Medicare Part A premium-free coverage by going back to work. It helps cover Part A premiums.

To see if you are eligible for any of these programs, please give me a call.

Deducting Medicare Premiums

While I (and other licensed agents) cannot give you tax advice, it is possible to deduct medical expenses on your yearly tax returns. In order to take advantage of these deductions, you must use an itemized deductions form. These deductions can include things like medical insurance premiums, hospital insurance premiums, Part D premiums, and medical service fees. Dental and vision services are also possible tax deductions.

Choosing the Right Medicare Coverage

Saving money may seem tempting on a fixed budget. However, selecting the lowest Medicare premiums may end up costing you more when it comes to deductibles, out-of-pocket costs, and uncovered medical services. Instead of wasting your time searching on your own, give me a call today.

Avoid These 4 Common Health Insurance Mistakes

Fri, 08 Jan 2021 18:22:01 GMT

Avoid These 4 Common Health Insurance Mistakes

Shopping for health insurance takes a lot of time. Between comparing the thousands of plans available and evaluating premiums and coverage, choosing the first plan that sounds good can be extremely tempting. However, purchasing a plan prematurely could put you at risk of making one of the 4 common health insurance mistakes.

Not shopping around

Nationwide, there are thousands of different health insurance plans. These plans have different prices, benefits, provider networks, etc. In order to get protection at the best possible price, it’s essential that consumers shop the market to assess the many options out there. Consumers can call (or go to the website of) individual insurance companies one by one, or they can use an insurance agency such as HealthMarkets , that offers plans from over 200 different insurance companies nationwide.

Buying just on price

With something as confusing as health insurance, it’s easy to choose a plan simply based on the most visible information: the monthly premium. That may work—sometimes.

The cost of health care goes way beyond the premiums. Your costs could include deductibles, copays, and coinsurance on all sorts of health care services (doctors visits, medications, procedures, etc). Without looking more closely, you could end up spending more in out-of-pocket expenses than what you saved in monthly premiums.

It’s the total cost that matters, not just the monthly premium. In order to do a proper assessment of your health care needs, you should review your coverage options, out-of-pocket expenses, and the different monthly premium costs. All together, you can make a well-informed choice that could save money.

Tips for health insurance shopping:

Shop around.
Look beyond the premiums.
Check the coverage.
Get free help from a licensed agent.

Leaving gaps in coverage

Health insurance plans all have some form of cost-sharing (deductibles, copays, coinsurance, and max out-of-pocket). This can expose a consumer to as much as $7,150 per year if they have an individual plan and $14,300 if they have a family plan.

If you run into a serious health problem, the medical expenses can seriously damage your family’s financial stability. In fact, critical illness costs caused more than 60% of all bankruptcies, even though almost 80% of those filers had health insurance. Fortunately, there are affordable supplemental insurance products that help cover these financial gaps. Supplemental health insurance plans can put money in your pocket if you have an accident, are hospitalized, or have a critical illness (heart attack, cancer, or stroke).

Going it alone

Let’s face it, health insurance is a puzzle. With all the different coverage levels, premiums, subsidy applications, and provider networks, it’s easy to get confused. Although it may be confusing, protecting your health and financial well-being is vital. But you don’t have to go it alone . You wouldn’t try your own legal case or do your own heart surgery. Instead, you would find a licensed professional that you can trust.

You don’t have to find health insurance on your own either. I can help you make the right decision for you and your family. Best of all, my service is completely free. Call today to learn more.

HMIA001119

Questions to Ask When Shopping for Health Insurance

websitebuilder@thryv.com — Fri, 08 Jan 2021 18:16:15 GMT

Before you choose a health insurance plan, you should know the answers to all of the important questions. Of course, there are a lot of questions to ask depending on your situation and the plan you’re interested in. Here are five questions to get you started.

What type of plan is this?

The two most common types of plans are PPO (Preferred Provider Organization) plans and HMO (Health Maintenance Organization) plans .

PPO plans have a network of providers that are considered “in-network.” If you choose to visit in-network doctors or specialists, you will pay less than you would for out-of-network providers. You do not have to choose a primary care doctor. You are free to visit any provider that is in-network.

HMO plans typically require that you choose a primary care physician (PCP). All of your health care is coordinated through your PCP. Make sure your PCP is in-network before choosing this type of plan.

Is my primary care doctor “in-network”?

This question is a direct follow-up to the previous question. You likely already have a doctor whom you see regularly. Regardless of the type of plan you choose, you will want to confirm that your current doctor is in-network or find a new doctor who is in-network. Out-of-network doctors will cost more with PPO plans and may not even be an option with certain HMO plans.

How much will my monthly premium cost? How about my copays?

There is always a level of uncertainty when it comes to health care. Unfortunately, it’s impossible to know what the future holds. This can make it difficult to budget for health-related expenses. One cost that you can count on is your premium .

Quite simply, this is the fixed amount you pay monthly for health insurance. If you have an individual plan, you may pay this on your own. If your health insurance is provided through your employer, they may pay for some or all of your monthly premium.

A copay (copayment) is a fee you are required to pay for specific medical services. Depending on your plan, you may have different copays for doctor visits, specialist visits, and prescriptions.

What is my deductible? Is this a coinsurance plan?

Some health insurance plans require that you pay a certain amount out of pocket before your medical expenses are covered. This is known as a deductible . Once your deductible is met, your plan may cover some or all of your expenses.

If you have a coinsurance plan , your provider will pay a percentage of your expenses (typically 70%-90%) and you pay the rest. Be sure to find out about the maximum yearly out-of-pocket expenses of your plan as well.

What happens if I go to the emergency room?

Depending on your plan, you may be required to contact your primary care physician within 24 hours of an emergency room visit for your health insurance provider to cover your medical expenses.

It is also important to understand any deductibles or copays associated with an ER visit. Some plans require that you go to specific hospitals or service providers. These are all important things to know and understand before you purchase your plan. Don’t wait until there is an emergency to start searching for answers.

Another thing to keep in mind is that many urgent care facilities can perform a lot of the same functions as emergency rooms, often at a lower cost. Research the urgent care options in your area so that you’re prepared in the event of an emergency.

While these are all important questions, they’re not the only ones worth asking. It helps to have someone on your side who understands the healthcare industry and all of the options. If you’re in the market for a new plan, give me a call. I work with a broad range of health insurance providers and can help you find the plan that’s right for you, at a cost that fits your budget. Best of all, my service is available at no cost to you.

What classifies as free preventive care?

websitebuilder@thryv.com — Fri, 08 Jan 2021 16:37:58 GMT

What classifies as free preventive care?

If your health insurance plan begins on or after 2010, your health insurance company must provide you with free preventive care . This means that, as long as you are within your provider network, you don’t have to pay your copayment, coinsurance, or even meet your deductible.

What is considered to be free preventive care varies for adults, woman (including pregnancy), and children. So, here is a list of every service covered within the differing groups.

Free Preventive Care for Adults

Screenings

Abdominal aortic aneurysm
Alcohol misuse
Blood pressure
Cholesterol
Colorectal Cancer
Depression
Type 2 Diabetes
HIV
Obesity
Tobacco Use
Syphilis

Counseling

Alcohol misuse
Diet
Obesity
Sexually Transmitted Infection (STI)

Medication

Aspirin

Immunizations

Hepatitis A
Hepatitis B
Herpes Zoster
Human Papillomavirus
Influenza (Flu shot)
Measles
Mumps
Rubella
Meningococcal
Pneumococcal
Tetanus
Diphtheria
Pertussis
Varicella

Free Preventive Care for Women (including pregnant women)

Screenings

Anemia
Bacteriuria
Breast Cancer Mammography
Cervical Cancer
Chlamydia Infection
Domestic and interpersonal violence
Gestational diabetes
Gonorrhea
Hepatitis B
HIV
Osteoporosis
Rh Incompatibility
Tobacco Use
Syphilis
HPV DNA test
Rh Incompatibility test

Counseling

BRCA
Breast Cancer Chemoprevention
Breastfeeding
Contraception
Domestic and interpersonal violence
HIV
Tobacco Use
Sexually Transmitted Infection (STI)

Medication

Contraception
Folic Acid supplements

Services

Well-woman visits

Free Preventive Care for Children

Assessments

Alcohol and Drug use
Behavioral
Oral Health risk

Screenings

Autism
Blood pressureCancer
Cervical Dysplasia
Congenital Hypothyroidism
Depression
Development
Dyslipidemia
Hearing
Height, Weight and Body Mass Index
Hematocrit or Hemoglobin
Hemoglobinopathies or sickle cell
HIV
Lead
Obesity
Phenylketonuria (PKU)
Sexually Transmitted Infection (STI)
Vision(STI)

Testing

Tuberculin
Sexually Transmitted Infection (STI) prevention

Medications

Flouride Chemoprevention supplements
Gonorrhea preventive medication (newborns)
Iron supplements

Immunizations

Tetanus
Diphtheria
Pertussis
Haemophilus influenza type b
Hepatitis A
Hepatitis B
Human Papillomavirus
Inactivated Poliovirus
Influenza (Flu shot)
Measles
Mumps
Rubella
Meningococcal
Pneumococcal
Rotarvirus
Varicella

With access to free preventive care, you and your family could catch signs of health issues before they develop into something dangerous. Don’t delay. Give me a call today to purchase health insurance and gain free preventive care.

HMIA001109

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Why Medicare Beneficiaries Should Consider Standalone Dental and Vision Plans

1) What Traditional Medicare Covers

a) What Parts A and B Actually Cover

b) Medicare Leaves Out Most Dental Care

c) Vision Care Isn’t Fully Covered Either

d) Medicare’s Gaps Often Lead People to Delay Care

e) How Supplemental Insurance Fills the Gaps Medicare Doesn’t Cover

2) The Financial Reality Behind Dental & Vision Care After 65

a) Routine Care Adds Up Faster than People Expect

b) Major Procedures Become Financial Shock Events

c) Standalone Plans Turn Unpredictable Bills Into Predictable Monthly Costs

d) Medicare Advantage Allowances Don’t Stretch Far Enough

e) Plans Reduce Long-Term Costs by Catching Issues Early

3) Health, Aging & Quality-of-Life Benefits You Can’t Ignore

a) Good Dental Health Strengthens Your Whole-Body Health

b) Clear Vision Protects Mobility, Confidence, and Independence

c) Regular Checkups Catch Hidden Issues Before They Become Serious

d) Oral and Eye Health Impact Daily Comfort and Energy

e) Strong Dental & Vision Health Support an Active Lifestyle

The Missing Piece to Confident Medicare Coverage

Medicare Made Easy: How to Choose the Right Plan in Peoria

Medicare Basics

Part A (Hospital Insurance)

Part B (Medical Insurance)

Part C (Medicare Advantage)

Part D (Prescription Drug Coverage)

Medicare Supplement (Medigap)

How To Choose Medicare Coverage When You Retire?

Original Medicare (Parts A and B)

Medicare Advantage Plans

Critical Medicare Facts for Pre-Retirees

Enrollment Is Not Automatic

The Financial Impact of Delayed Enrollment

Medicare's Coverage Limitations

The Importance of Annual Reviews

Special Circumstances and Enrollment Opportunities

Financial Planning for Healthcare Costs

How The Insurance Office Can Help

Should I Work with a Medicare Agent or Broker?

VIDEO: What's the difference between an agent and a broker?

When is the Medicare Annual Enrollment Period (AEP)?

VIDEO: How do you enroll in Medicare?

Why You Need Travel Insurance

VIDEO: What if you have a medical emergency during your trip?

Final Expenses

VIDEO: End-of-life insurance policies provide financial peace of mind

Medicare Basics – Part D

VIDEO: Medicare Part D helps you cover the rising cost of prescription drugs

Medicare Open Enrollment Period & Coverage Changes

VIDEO: What is the Medicare Open Enrollment Period?

Medicare Basics - Part B

VIDEO: Part B covers outpatient care like doctor visits and lab tests.

Medicare Basics - Part A

VIDEO: Most people pay no premium for Part A hospital coverage

Medicare Supplement Plans

VIDEO: Cover costs that Original Medicare doesn't cover...

Medicare Advantage Plans

VIDEO: Medicare Advantage plans are an alternative to Original Medicare

How Do I Choose Medicare Coverage When I Retire?

VIDEO: Get the facts before you decide on your Medicare coverage.

5 Important Medicare Facts for Pre-Retirees

VIDEO: Medicare is complicated. Here are 5 important facts you need to know

The Affordable Care Act

VIDEO: Millions of Previously Uninsured Americans Now Have Coverage.

Retirees, Here’s How Returning to Work May Affect Social Security, Medicare, Pensions and Taxes

Very good information if you intend to keep or go back to work while collecting Social Security.

Read more...

Mid Year Review / How To Avoid A Tax Penalty

If you suspect this has happened with you, give me a call so we can review your information and make a correction so you can avoid penalties at tax time ...they will ask for those $$$'s back! Remember there is no charge for my services. (309) 267-0439 Read more...

This Would Be A Good Thing

Brace Yourselves for 2023 Enrollments

Now that Open Enrollment is over, see health insurance options

Now that Open Enrollment is over, see health insurance options

See if you qualify for a Special Enrollment Period ﻿

See if you qualify for a Special Enrollment Period ﻿

What Can Vision Insurance Do for You?

What Is Vision Insurance?

Who Should Have Vision Insurance?

How much does it cost?

If you suspect this has happened with you, give me a call so we can review your information and make a correction so you can avoid penalties at tax time ...they will ask for those $$$'s back! Remember there is no charge for my services. (309) 267-0439

Read more...

See if you qualify for a Special Enrollment Period

See if you qualify for a Special Enrollment Period

What does supplemental health insurance do?