If you are turning 65 or already on Original Medicare you have come to the right place. We are here to be your Medicare insurance consultant.
Turning 65
First off, if you are getting ready to turn 65 we would first like to say Happy Birthday! Secondly we want you to know that we are here to help you sort through your Medicare insurance options. Not only will we educate you on the various Medicare supplement plans available in your state, we also provide a free Part D (that would be your prescription drug coverage) for all of our Medicare supplement clients. Call us today at 1-800-779-0128 or send an email to brian@sunsetfinancial.net.
Are you asking yourself what will Medicare do for me?
In a nutshell, generally Medicare will cover 80% of your hospital and Dr.s fees. That leaves you responsible for the 20% or “gap” that Medicare does not cover. What we recommend is choosing a Medicare supplement or what is also known as a “Medigap” plan to be properly insured. Unless you qualify for financial help you will be responsible for your Part B premium of $99.90 a month in 2012.
What’s with all these letters when it comes to Medicare?
- Part A (Hospital Insurance) – helps cover your inpatient care in hospitals, skilled nursing facilities, hospice care, and some home health care if you meet certain conditions.
- Part B (Medical Insurance) – helps cover medically-necessary services like doctor’s services and outpatient care, other medical services that Part A doesn’t cover such as physical and occupational therapists, and some home health. Part B also helps cover some preventive services to help maintain your health and to keep certain illnesses from getting worse.
- Part C ( Medicare Advantage Plans) – private insurers like HMOs and PPOs provide Part A, Part B, and, sometimes, Part D coverage to people who enroll.
- Part D ( Medicare prescription drug coverage) – helps cover prescription drug costs.
What is a Medicare supplement (Medigap) plan?
A Medigap plan quite simply is your secondary insurance to supplement your Medicare insurance. All plans are standardized by the federal government and offer plans A through N.
For additional information on Medigap policies, including why you would want to buy a Medigap policy and information about what Medigap policies cover, read this publication,Choosing a Medigap Policy: A Guide to Health Insurance for People with Medicare (pdf). Additionally visit http://www.medicare.gov for additional information. All Medicare Supplements (Medigap) have been standardized by the federal government since 1992. According the publication “Choosing a Medigap Policy“.
What Medigap plan do most people choose?
The most popular Medicare supplement plan people choose is Plan F. This plan will cover the deductibles and co payments that Original Medicare does not cover. Although this is the most popular plan we also like to have people take a look at Plan G or Plan D. These plans can over great coverage as well and often will give you the most bang for you buck.
Does it really matter which Medicare supplement carrier I choose?
In our experience the answer is NO. Since all plans are standardized you might as well choose the carrier with the most affordable premium. We like to say if you are shopping for the same car at three different dealerships, you will find three different prices. Call us at 1-800-779-0128 and let us do the shopping for you. Remember, we work for you and not any one particular insurance company.
Some of the top rated Medicare supplement carriers we represent are:
- Gerber
- Sentinel Security Life
- Family Life
- Mutual of Omaha
- Anthem
- Humana
- AARP/ United Health Care
Gerber Life
Gerber Life has offered quality insurance products since 1967. Today Gerber Life is licensed to provide life insurance throughout the United States, Canada and Puerto Rico. Gerber Life more than $37 billion of life insurance in force, and help provide financial security to over 3 million policies. Gerber Life is an A rated company by A.M. Best.
Sentinel Security Life
Sentinel Security Life has been providing quality insurance products to seniors for over 60 years. In 1948, Sentinel Security Life was started by a group of Utah funeral directors with the propose of providing an insurance product to help pay for funeral costs at that time of need. There are six Standard Medicare Supplement plans from which to select the coverage that best meets your needs. The six plans are A, B, C, D, F and N. (Not all plans are available in all states.) Sentinel Security Life is rated B++ by A.M. Best.
Family Life
Family Life is part of the Manhattan Insurance Group. Family Life was founded in 1949 specializing in mortgage protection. Family Life offers 8 standardized medicare supplement plans that will allow you to find a plan that meets your budget. Family Life holds a B+ rating by A.M. Best.
Mutual of Omaha
Mutual of Omaha has over 100 years of experience. Mutual of Omaha boasts a strong capital position and disciplined investment strategy. Mutual of Omaha has a A+ rating by A.M. Best.
Anthem
At Anthem Blue Cross and Blue Shield we understand our health connects us to each other. What we all do impacts those around us. So Anthem is dedicated to delivering better care to our members, providing greater value to our customers and helping improve the health of our communities.
Anthem Blue Cross and Blue Shield is the trade name of: In Colorado and Nevada: Rocky Mountain Hospital and Medical Service, Inc. In Connecticut: Anthem Health Plans, Inc. In Georgia: Blue Cross and Blue Shield of Georgia, Inc. and Blue Cross Blue Shield Healthcare Plan of Georgia, Inc. In Indiana: Anthem Insurance Companies, Inc. In Kentucky: Anthem Health Plans of Kentucky, Inc. In Maine: Anthem Health Plans of Maine, Inc. In Missouri (excluding 30 counties in the Kansas City area): RightCHOICE® Managed Care, Inc. (RIT), Healthy Alliance® Life Insurance Company (HALIC), and HMO Missouri, Inc. RIT and certain affiliates administer non-HMO benefits underwritten by HALIC and HMO benefits underwritten by HMO Missouri, Inc. RIT and certain affiliates only provide administrative services for self-funded plans and do not underwrite benefits. In New Hampshire: Anthem Health Plans of New Hampshire, Inc. In Ohio: Community Insurance Company. In Virginia: Anthem Health Plans of Virginia, Inc. trades as Anthem Blue Cross and Blue Shield. The service area for Anthem Blue Cross and Blue Shield and its affiliated HMO HealthKeepers, Inc. is all of Virginia except for the City of Fairfax, the Town of Vienna, and the area east of State Route 123. In Wisconsin: Blue Cross Blue Shield of Wisconsin (“BCBSWi”) which underwrites or administers the PPO and indemnity policies; Compcare Health Services Insurance Compcare Health Services Insurance Corporation (“Compcare”) underwrites or administers the HMO policies; and Compcare and BCBSWi collectively underwrite or administer the POS policies. Independent licensees of the Blue Cross Blue Shield Association.
Forethought
Forethought has been in business since 1985, Forethought established its foundation in the preneed life insurance sector where we possess a commanding market share. Since then, they have expanded our offerings to include annuities, life insurance and other financial products that are offered via a diverse range of distribution channels.
Humana
Humana Inc. (NYSE: HUM), founded in 1961 in Louisville, Kentucky, is a Fortune 100 company that markets and administers health insurance. With a customer base of over 11.5 million in the United States, the company is the largest (by revenues) Fortune 100 company headquartered in the Commonwealth of Kentucky, and has a market cap of over US $13 billion, $25.2 billion in revenue, and over 26,000 employees nationwide. Humana markets its health insurance services in all 50 U.S. states, D.C., and Puerto Rico, and has international business interests in Western Europe. The company was founded by David A. Jones, Sr. and Wendell Cherry as a nursing home company in 1961. Then known as Extendicare, the company became the largest nursing home company in the United States. Extendicare later divested the nursing home chain and moved into purchasing hospitals in 1972, becoming the world’s largest hospital company in the 1980s. The corporate name was changed to Humana Inc. in 1974. Humana experienced tremendous growth in the years that followed, both organically and through the takeover of American Medicorp Inc. in 1978, which doubled the company’s size. During the mid-1970s, the company used a fast-track construction process to complete and open one hospital a month. This accelerated construction schedule, which compressed time by overlapping processes, allowed Humana to develop hospital projects faster than the industry norm. During this construction boom, Humana developed the double corridor model for hospital construction. This highly efficient design minimized the distance between patients and nurses by placing nursing support services in the interior of the building with patient rooms surrounding the perimeter. Humana brought the pioneering artificial heart research of Dr. Robert Jarvik and Dr. William DeVries, the inventor and surgeon of the first artificial heart implant performed at the University of Utah in 1982, to create the Humana Heart Institute, in Louisville in 1985.The 1990s marked Humana’s transition into a consumer health benefits company. Humana spun off its hospital operations from the health insurance operations in 1993, creating Galen Health Care, which then merged with Columbia/HCA.
AARP/United Health Care/Secure Horizons