MEDICARE ADVANTAGE

In all plan types, Medicare beneficiaries are always covered for emergency and urgent care. Medicare Advantage Plans must cover all of the services that Original Medicare covers except hospice care. Original Medicare covers hospice care even if the beneficiaries are in a Medicare Advantage Plan. Medicare Advantage Plans aren’t considered supplemental coverage. Medicare Advantage Plans may offer extra coverage, such as vision, hearing, dental, and/or health and wellness programs. Most include Medicare prescription drug coverage. In addition to the Medicare beneficiary’s Part B premium, beneficiaries usually pay one monthly premium for the services provided. Medicare pays a fixed amount for a beneficiary’s care every month to the companies offering Medicare Advantage Plans.

MEDICARE SUPPLEMENT

A Medicare Supplement Insurance policy (or “Medigap” policy), sold by private companies, helps pay some of the health care costs (or “gaps”) that Original Medicare doesn’t cover – like copayments, coinsurance, and deductibles. Original Medicare pays for many, but not all, health care services and supplies. A Medicare Supplement Insurance policy (or “Medigap” policy), sold by private companies, helps pay some of the health care costs (or “gaps”) that Original Medicare doesn’t cover – like copayments, coinsurance, and deductibles. Some Medigap policies also offer coverage for services that Original Medicare doesn’t cover, like medical care when you travel outside the U.S. If you have Original Medicare and you buy a Medigap policy, Medicare will pay its share of the Medicare-approved amount for covered health care costs. Then, your Medigap policy pays its share.

DENTAL AND VISION

Original Medicare plans do not pay for most regular or preventative dental, vision or hearing care. So any routine dental appointments or vision exams will not be paid for. Medicare usually only pays for dental care needed to treat and/or diagnose an illness. For vision, Medicare will usually pay for vision exams or eyewear that is related to specific illness or surgery as well. This is where additional insurance outside of your basic Medicare plan is helpful.

HOSPITAL INDEMNITY

Hospital indemnity insurance is a flexible supplemental coverage plan meant to pay for the costs from a hospital admission that might not be covered by your normal insurance. Policyholders are able to choose a plan based on a specific, fixed-amount benefit for each day you’re in the hospital.

Hospital stays can strain even the healthiest of budgets. And in many cases, you can’t ignore the care you need even if it pushes you financially. Hospital Indemnity insurance plans provide payment for each day spent in the hospital, and for some other qualified expenses as well. That’s money you can use as you choose, whether for hospital bills or those other costs that come up while you’re recovering.

LIFE INSURANCE

Life insurance policies will protect your beneficiaries with financial stability and security when it matters most. In the event of your passing, life insurance provides financial help to your beneficiaries. Life insurance can help your beneficiaries with:

• Covering any lost income and helping continue the same standard of living

• Paying off any debts

• Paying for your children’s education

• Covering funeral and related costs

Which is right for you? First, always ask yourself why you need your life insurance policy and what you’re trying to accomplish by having a life insurance policy. Are you insuring your life so that when you pass away your children will be able to go to college or so your spouse will be able to pay off the mortgage? A temporary form of life insurance – term life – is well suited for these concerns. If you are more concerned about providing income to a widow or widower for life, funding retirement, or passing on wealth to future generations you will find permanent life insurance to be better suited for these goals. If you have a temporary goal in mind then term insurance is probably best. We will help you determine which is best for you and your family.