MEDICARE HEALTH PLANS
Turning 65 may not be exciting; however Uncle Sam has a nice present for you when you do: government-subsidized health insurance. However, Medicare won’t cover all of your health care expenses. Therefore, you will still need to make some key decisions about how to fill in the gaps. Is a Medicare Supplement or a Medicare Advantage Plan the answer? Do I need Part D to cover my prescriptions? Making the right choice could save you hundreds or even thousands of dollars a year in premiums and out-of-pocket expenses. Even if you are already eligible for Medicare, it pays to review your choices each year during the Annual Enrollment Period (AEP). Several new options appear every year, and the prices and coverages can vary greatly. Your current plan may no longer be your best option. Understanding your needs and goals is critical. We carefully sort through a variety of options to determine which plan will be best for you.
HEALTH INSURANCE UNDER 65
Shopping for a health plan is a lot like looking for a job. You have to determine what you need, research companies, and find out if you are qualified to apply. Plans range from “traditional” to high deductible ones with an HSA (Health Savings Account) attached. Utilizing a health insurance specialist is vital to understanding and selecting the best plan for you.
LIFE OR FINAL EXPENSE INSURANCE
The purpose of life insurance is to take care of your dependents or financial responsibilities at the end of life. It is an important part of your financial plan. How much life insurance do you need? Should you buy whole life or term? Is there a time when you don't need life insurance? Those questions can be easily answered in a consultation with an experienced life agent.
LONG TERM CARE
Most older Americans do not have insurance to cover long-term care expenses. Long-term care expenses involve non-medical help with such task as bathing, dressing, meal preparation, toileting and transferring. Most insurance including Medicare will not pay for long-term care expenses. Long term care insurance will protect your family's financial future, investments and savings.
FIXED ANNUITIES
Annuities can be an excellent way to ensure a steady stream of income in retirement. Annuities are sometimes described as the opposite of life insurance because annuities can help you protect against the possibility of living too long and outliving your resources. An annuity is a contract under which an insurance company promises to make a series of payments to a person in exchange for a single premium or a series of premiums. You can also use a deferred annuity to help off set the cost of longterm care.