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If you are over 65 and leaving your group health insurance, you'll need to plan carefully when considering COBRA as your semi-permanent insurance. If you do not enroll in Medicare Part B upon separation from employment, you can face late enrollment penalties including fines and delays. Unfortunately, the transition from group health insurance to Medicare - and the role that COBRA may play - is poorly understood by many who advise on the subject. You may receive bad information by speaking with the consultants…

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If you've ever been declined a Medicare supplement insurance plan due to medical underwriting, then you know the frustration. Some carriers are more stringent than others and the slightest health issue can be grounds for denial. And in most states, you have only one or two chances to choose a supplement without the need for medical underwriting. Those times are during your 6 month Open Enrollment window - or if you qualify because of a Guarantee Issue event. Limited Medical Underwriting Medicare…

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Qualified longevity annuity contracts (QLACs) are popular retirement vehicles for those who want to create a deferred income stream with pre-tax dollars. Having been approved by the IRS since June of 2014, many carriers are now in the market offering competitive products with reliable returns. With fewer employers offering pensions, the need for guaranteed retirement income using safe and insured investments has grown. A QLAC can be the answer for individuals and groups who wish to earmark qualified funds to create…

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Mutual of Omaha offers several different lines of insurance, but they may be best known for their Medicare supplement insurance plans. Their policies are competitively priced across the U.S. and rate increases with many of their supplements have been trending lower the last few years. A.M. Best rates them A+  due to their large base of policy holders, cash reserves and strong balance sheet. Other lines of insurance offered include: long term care, life insurance, annuities, disability, critical illness and structured settlements. Medicare Supplement…

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When you're new to Medicare, there are decisions to make. Most of our clients compare traditional supplements (Plans, F, G, N, etc.) to Advantage plans, but inevitably the questions arises, 'What is a Medicare Advantage (MA) plan?' Through the years, we have found there's a lot confusion about Advantage plans. They are different from supplements - and it's important to understand how. We answer several of the most common questions below so you will have a better understanding of what to expect from…

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Welcome to Part II of our two-part series regarding the most frequently asked questions our agency encounters about Medicare Supplement insurance policies. In this installment, we discuss the nuances of these plans including: rates, underwriting, making changes and the agent's role. Click Here To Read Part I Med Supp FAQs Learning About Medicare Supplement Rates & Increases Can My Rates Go Up Each Year? Why Do They Increase? Yes, rates with most plans and most carriers increase each year. It does not matter…

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You may have questions about Medicare supplement insurance plans. We have been working with these policies for several years and answer the most common questions below to further your understanding of this insurance. First: A Little About Medicare What And When Is Open Enrollment For Medicare? For most, open enrollment occurs when they turn age 65. For others, it's when they first enroll in Medicare Part B at a later date. (Not everyone enrolls in Part B at age 65 - some may…

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If there is a knock against fixed annuity accounts lately, it's low interest rates. The Federal Reserve has kept rates low for several years to spur economic growth. In turn, the stock market has provided much higher returns than most fixed interest investments. In response to the overall economic climate, State Life has issued the first true hybrid long term care annuity that credits interest based on the performance of certain indexes - like the S&P 500. This is good news…

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It's that time of the year when Medicare announces changes that affect Medicare supplement and Medicare Advantage insurance plans.  Like most years, the changes are small and incremental.  We will discuss them below and how they will affect your out of pocket exposure. (It's important to note that when the officials at CMS (Centers for Medicare and Medicaid Services) make changes, it affects all plans - both new and old.  It doesn't matter when you purchased your coverage - all plans…

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The Medicare Open Enrollment window is nearly upon us for plan year 2015.  The window to make changes to your coverage for 2015 runs from October 15th through December 7th 2014.  All changes will become effective January 1, 2015. October 1st is when agents and insurance companies can start marketing new plans for 2015, but enrollment paperwork and applications cannot be accepted until October 15th. What Changes Can I Make During Medicare Open Enrollment? There are several things you can…

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Our independent agency represents several companies, but we are seeing a lot of interest lately in the Transamerica Life Medicare supplement insurance plans. In our view, there are several reasons for this including: cost, ratings, renewals and name recognition. First, a little about the company: Transamerica (that big pyramid building in San Francisco) is a subsidiary of Aegon. They have an A+ rating due to their size and financial strength. They began offering Medicare supplements approximately two years ago and market supplements…

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If you are looking for Ohio health insurance plans in Columbus, Cleveland or Cincinnati -then you are in the right place. Our Ohio based independent insurance agency offers coverage from several carriers both on and off the federal exchange. In our opinion, it is important to work with an Ohio based insurance agency if that's your state of residence. Using our expertise, we can help you find the plan(s) with the most comprehensive networks and lowest prices. A broker from…

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Through our independent agency, you can compare hybrid long term care insurance quotes from One America State Life Insurance Company. We offer their hybrid annuity and life plans direct to consumer. Using our expertise and guidance, we can help your decide which type would be most appropriate for your long term care planning. Linked long term care plans are growing in popularity and for good reason. These policies offer liquidity and leveraged benefit pools to their owners while also providing…

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If you are researching hybrid long term care policies, then you may want to consider the Lincoln MoneyGuard life insurance product. In this post, we will discuss how this policy works and provide examples of the benefits it can provide. Addressing Long Term Care Using Hybrid Insurance Plans Asset based planning for long term care is very popular and for good reason. These policies allow consumers to leverage their invested dollars several times over to create a tax-qualified long term care…

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That's an interesting question and in our experience offering hybrid long term care coverage, the answer is: It depends. Some of our clients will benefit more from an annuity and others from a hybrid life insurance plan. We will discuss the pros and cons of each below. Some of the answer can also be found in your own personal comfort level with insurance. For better or worse, some LTC shoppers are more familiar with annuities and therefore gravitate toward these policies.…

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