It is quite common for new carriers to enter the Medicare supplement marketplace every year. One of the newest entrants is Assured Life. These plans are underwritten by Mutual of Omaha. The monthly premiums are very competitive in the states where they currently offer coverage. Arizona and Ohio residents over age 65 will find their rates to be very competitive for new and existing coverage.
Assured Life Medicare Supplement Plans and Premiums
Supplemental plans offered by Assured Life include A, B, C, D, F, and G. Plan F is the most comprehensive coverage offered, but popular alternative includes Plans D and G as they are slightly less expensive on a monthly basis. You can pay your premiums by monthly bank draft or by check either quarterly, semi-annually, or annually.
This is an attained age supplemental plan. That means that your rates will increase each year as you grow older. Multi-insured discounts are not offered to couples who apply together, but you will still find their rates to be more affordable than most others that do offer such savings.
Guaranteed Issue and Medicare Supplement Underwriting
Underwriting for this new supplemental plan is reasonable as is the case with most Medicare plans. If you are applying during a period of guaranteed issue, then you will not have to answer any health related questions. If you are shopping for better rates on your existing coverage, then there will only be a handful of questions you need to answer. A doctor’s physical is not required for acceptance into any plan.
We are an independent agency offering plans direct from Assured Life/Woodmen of the World. If you are interested in a personal Medicare insurance quote, please contact us today.
Category: Medicare Supplements
September is life insurance awareness month, thus we will do our part to discuss the overall benefits of these products. When compared to other financial instruments, life insurance policies have several unique and attractive attributes.
Policies will come in many shapes and sizes with several options for the insured, but it may be most important to simply touch upon the purpose of life insurance.
Life Insurance for Future Obligations
For most of us, there are future obligations both known and unknown. In many cases, term life insurance will be the best product to account for said obligations. Policies with large face amounts are usually quite affordable and can adequately cover future expenses for the insured. Additionally, life insurance proceeds are not subject to income taxes for policy beneficiaries and thus provide a known benefit.
Life Insurance For Mortgage Insurance Debt & Home Loans
Many young families have mortgage debt, student loans, and car debt among other liabilities. Term life insurance provides the needed liquidity to cover these obligations for a surviving spouse. The length of the policy, or term, most commonly is 20 to 30 years. By the time the term has expired, it is conceivable that much of this debt has been paid down and would be easier to manage.
Costs of Raising Children – Coverage For Your Family
Children are another concern for most families. The cost of a higher education is significant at many public and private universities alike. And the inherent costs of raising children is no small amount. Term life can also account for these outlays should they be needed. A twenty or thirty year term life policy will give parents a reasonable grace period of time to see their children grow into young adults.
Life Insurance For Income Replacement
Most people think of disability insurance when discussing income replacement. Life insurance can also serve this purpose for the primary financial provider in a household. Term, universal, and whole life policies will all serve the purpose of replacing lost income. Insurance proceeds give the surviving beneficiaries needed liquidity to cover everyday expenses in times of need.
In all, a well thought out life insurance plan will cover debt while also providing for future obligations such as education and lost income. Term policies protect against the unexpected, provide peace of mind, and literally buy time for young families.
Life Insurance Policies and Tax Advantages
Wealthier consumers use permanent plans or whole life insurance for estate and retirement planning. When structured properly, life insurance can avoid both federal estate and state inheritance taxes. Not all states have an inheritance tax, but those that do may not count life insurance proceeds that are directly paid to a named beneficiary as part of the estate. New Jersey and Pennsylvania are two such states.
Whole life plans also immediately increase the value of an estate to provide needed liquidity for the beneficiaries. The proceeds can be used to pay taxes and expenses in order to avoid a quick sale of valuable assets. In other cases, permanent life might be used to keep a business afloat or to buyout a partner. In other words, guaranteed whole life has several advanced uses for those who need to protect an estate or a business.
In summary, there is a strong need for consumers to be properly insured. Whether it is to protect wealth or to provide for their families, life insurance policies are an extremely important piece of any financial plan. Contact us today to see which life insurance policies might best fit your family or business needs.
Category: Life Insurance, Retirement Planning
As an insurance professional in Ohio, I am asked this question quite a bit from prospective clients. The simple answer is: it depends. There are certain companies that offer more affordable health insurance in certain areas and to certain age groups.
With the advent of healthcare reform, there are several other variable that come into play, but the most important one is your income. Many individuals and families will now qualify for a tax credit based on the size of their family and their income. It is important that you touch upon this with your agent – presumably us.
Everyone has a somewhat different idea of how their health insurance coverage should be structured. A younger individual might be shopping simply on cost whereas a family might be most concerned about wellness benefits for their children or maybe maternity coverage. Large and small group employers alike are usually concerned about all of the above among other factors.
Affordable Ohio Health Insurance Coverage
Cost will always be a major factor when shopping for insurance. Some providers will be more affordable than others. United Healthcare, offered through Golden Rule, is competitive in most age groups as is Medical Mutual. Humana is very competitive in the Cincinnati area while Anthem and MMO are better in Columbus and Cleveland. Aetna and Assurance can be good choices as well.
There is not always one company that stands apart from the others on price. It will depend on the number of insureds, their age, overall health, and chosen benefits. Our agency runs quotes will all of the reputable carriers before making a recommendation for our clients. One size does not fit all.
Health Insurance Benefits, Coverages and Preventive Care
Almost all plans will protect against catastrophic losses. The question is how much more insurance do you want after that? All insurance companies offer low deductible, comprehensive coverage with significant first dollar benefits. First dollar benefits are those that are not subject to the deductible like prescriptions, doctor office visits, preventive care, and OBGYN appointments.
Some companies offer more robust packages than others. In Ohio, Anthem offers very good preventive care benefits that are not subject to the deductible on most of their plans. With a new found emphasis on wellness and preventive medicine, many of the other providers are following course. Health care reform mandates that all plans cover preventive and wellness with a $0 copay.
Ohio In-Network Health Insurance Providers
All well known health insurance providers will offer robust networks filled with doctors and hospitals to choose from. That being said, there is a chance that your preferred provider might not be in the network. If that is the case, then it may be wise to seek out a plan offered by an alternative carrier where the physician is in network. We help our clients sift through various networks to insure that their chosen health care providers are available.
In summary, health insurance is a fluid product and in a constant state of flux. New plans are introduced on a regular basis, costs change from year to year, benefits are upgraded over time, and networks change constantly. What is best for you today may not be tomorrow and vice versa. We help our clients navigate this ever changing landscape so that they have the best possible coverage to address their given needs.
Category: Health Insurance
In an overall effort to insure more Americans, “pay or play” mandates appear to be a part of the Obama administrations health care reform efforts. While this legislation is still in its infancy, it is moving quickly as Congress attempts to draft a bill before summer recess.
Mandates already exist in the State of Massachusetts, but this legislation would encompass the entire country – affecting employer based groups as well as individuals. Accessing fines to those who are non-compliant should work well to get more individuals, families and groups insured, but it is unclear as to whether this will lower the overall cost of health care.
How Much is the Employer Health Insurance Fine?
Should this legislation pass, employer based groups with 50 employees or more not offering group health insurance would be fined $750 per year per employee. Any collected fines would be theoretically paid to the federal government and used to subsidize health care reform measures.
How Much is the Individual Health Insurance Fine?
Individuals without medical coverage would be accessed a fine ranging from $250-$1000 dollars. At this time, the penalty amount is unclear although most agree that the fine would be closer to $250 per year. Those with low income or who are considered hardship cases would be exempt from the penalty or otherwise be subsidized through government programs.
Insurers Must Cover Preexisting Conditions
Legislation would also force health insurance carriers to offer insurance to all regardless of any preexisting conditions. Health insurers would no longer be allowed to choose only the healthiest of Americans to insure. In a nutshell, applicants could no longer be declined due to poor health history.
Government Health Exchanges
Additionally, either a government run insurance option or so-called health exchange could be part of any bill. This proposal has met strong backlash from Republicans and private health insurance carriers alike as worries mount over tax payer costs and the ability for private insurers to compete. Another option proposed would be to create a non profit insurance carrier to compete with private companies.
It is difficult to guess what the final draft will look like as health care reform legislation passes through the House, Senate and ultimately to the President, but it is sure to contain mandates, fines and/or penalties of some kind. Most likely, employer groups who do not currently offer insurance to their employees will need to move quickly in order to become compliant. Individuals and families will have more options to purchase health insurance from either private, public or non-profit carriers.
Category: Group Health Insurance
Behind closed doors members of Congress are hammering out plans to change the shape of the current health care system. Details are still somewhat scarce, but House and Senate member are determined to have a bill put together by the middle of the summer and actual reform by year end. Outlined below are changes that we might expect to see in the not so distant future.
Government Health Insurance Pool
Congress seems determined to create a federally subsidized health care pool. In essence this will be government created and run health insurance. It will compete with the private carriers and most likely will force health insurance prices down across the board if it undercuts currently available plans.
If govt insurance provides good care and is popular with hospitals and doctors, then it will go a long way toward driving out private insurance in the individual and family marketplace. If the insurance is substandard and unpopular with health care professionals, then private plans will remain necessary. If consumers are receiving better attention from their health care providers with private insurance, it will be advantageous to avoid a government run plan.
Health Insurance Mandates
One goal of health care reform may be to ensure that all Americans have health insurance coverage. This could only be done by creating mandates like those we have seen with car insurance. Mandates will require that individuals and families purchase or qualify for some type of federally mandated minimum insurance coverage. Individuals and families will either qualify for state run coverage like Medicaid or be forced to either join the government pool or purchase private insurance. Underwriting will be virtually non-existent for preexisting conditions, but tobacco use will still be a factor in determining monthly premiums.
Employer Sponsored Health Insurance
There is also talk of requiring most, if not all, small and large businesses to provide health insurance to their employees. This will likely only be offered from private insurers like Anthem, Aetna, United Healthcare or others, but perhaps the government will be active here as well. How this will ultimately affect businesses is yet to be determined. It could however become a financial burden to small business owners across the country – especially those operating on slim profit margins.
In summary, plans are underway and change will soon be upon us. It will be interesting to see what evolves from the ongoing talks between legislators, unions, hospitals, doctors, pharmaceutical companies, insurers, and corporate advocates. It will also be intriguing to see if these plans actually drive down the cost of health care now and into the future.
If you are in need of a individual, family or group health insurance quote, please contact us today.
Category: Health Care Reform, Op/Ed
Online shoppers want to know where the best websites offering instant health insurance quotes from several well rated carriers can be found. You can find them with us.
In response to consumer demand, we have developed an insurance agency that operates in two worlds; the real and the virtual. Shoppers can explore plans with or without our help, but we are always available for consult.
Our Virtual Health Insurance Offerings
We created a web-page where consumers can anonymously run personal health insurance quotes without divulging any of their personal information. For those who may not wish to speak with an agent, they can compare and research plans from several carriers.
Our carrier approved websites have grown in sophistication. Not only can shoppers view quotes, but they can also find if their doctors are in network. Additionally, consumers can download brochures and even submit an online application should they find a suitable plan.
All of this is done without incurring any additional expenses whatsoever. Health insurance prices are controlled by law, therefore no agent or agency can undercut the insurer. Applicants are able to buy direct through our portals.
It is important to build trust in the online world, so we are also registered and highly accredited with the Better Business Bureau. This way, consumers can be confident that they are working with a reputable agency – not some fly by night marketing firm.
Our Real World Health Insurance Agency
In spite of the proliferation of online services, there will always be the need for human interaction. Unless consumers are well versed in the significant differences between insurance plans and coverage, it is always best to talk with an expert.
All plans are not created equal and coverages will differ from insurer to insurer. Even though consumers can view quotes side by side from competing companies, the insurance coverage may be significantly different. And optional riders like maternity, dental, vision, and life will always differ between companies.
Additionally, when the consumer wants to make changes to their policy or investigate coverages with alternative carriers – then their brick and mortar agency is available to them. Waiting on hold for 20 minutes to make a simple change is no longer a problem. Questions can be answered with a quick phone call and life changes can be discussed with a trusted advisor. Relationships will always matter in the real world – especially when complex insurance policies are the topic of discussion.
In summary, Hyers and Associates works in both the real and virtual worlds in order to provide the information and assistance consumers desire. Applications can be completed on paper or by using online software. Either way, we strive to make the health insurance shopping and buying experience a pleasant and hassle free process. Currently we are offering health insurance in several states both on and off the exchange.
Contact us for more information and quotes today.
Category: Health Insurance
Ohio has passed legislation allowing for partnership policies to encourage the purchase long term care insurance (LTCi).
Only a few insurance companies offer these plans, but not all LTCi policies offered today are partnership qualified.
By owning a qualified plan, insureds can be eligible for Medicaid benefits through the state without depleting all of their assets.
How Does The Ohio Long Term Care Partnership Plan Work?
In a nutshell, consumers can protect the same amount in personal assets as each dollar paid by the insurance company for long term care related benefits. In this way, consumers do not have to spend down their assets to state-mandated levels to qualify for Medicaid.
For example, if $250,000 worth of long term care insurance is purchased by a consumer and later exhausted, then the insured can retain $250,000 and still qualify for Medicaid benefits.
Other variables such as income and net worth will factor in before Medicaid benefits are immediately available, but the $250,000 in this example is protected from recovery for the insured, spouse and/or the heirs. In effect, the State of Ohio is rewarding those who plan ahead.
Who Should Consider Partnership LTCi Coverage?
Given the cost of extended care (the average in Ohio is over $85,000 a year), most should consider some form of LTC insurance. However, consumers with a moderate net worth and income may benefit the most from a qualified partnership plan. If a couple with a net worth of 3-4 hundred thousand dollars each purchases an average size policy, then they can protect their home and life savings for each other and their heirs.
An average policy can pay $175 a day (365 days a year) for four years. The total ($175 x 365 days in a year, multiplied by 4 years = $255,500.) This hypothetical couple could shelter $511,000 from Medicaid recovery should they exhaust their policy maximums.
Higher net worth couples (say those worth one million or more) might benefit less from a partnership plan if they purchased a similar policy as the one used in the example above. While they could shelter $511,000 between the two of them, there would still be attachable assets if the $511,000 was exhausted.
These clients might consider larger policy maximums, hybrid LTCi or traditional coverage that can provide benefits for at least five years. Five years is a typical look-back period. That window of time allows owners to shelter assets from Medicaid recovery.
Additional Long Term Care Benefits & Riders
Almost all LTCi coverage contains inflation protection. This allows the overall benefit amount to grow over time and will increase the amount of sheltered assets for the insured. Typical inflation riders will increase the daily benefit amount by 3-5% yearly.
Be advised that not all inflation riders will qualify for partnership coverage. In most cases, the inflation rider must compound for life. Ones that stop compounding after a set number of years will not qualify in Ohio.
Additionally, couples can purchase a rider that allows them to share each other’s benefits should one exhaust their own policy maximum. Should one spouse need care and spend all of their benefits, then that spouse can tap into the healthy spouse’s benefit pool. These are but a few of the more popular riders available with LTCi plans.
How Common Are Partnership LTC Plans?
There are several states offering these types of policies and a handful offer reciprocity. That means you can purchase your policy in Ohio, then receive care in another State.
Currently, Arkansas, California, Colorado, Connecticut, Florida, Georgia, Idaho, Indiana, Kansas, Minnesota, Missouri, New York, Nebraska, North Dakota, Oklahoma, Oregon, Pennsylvania, South Dakota, Texas and Virginia all offer partnership long term care insurance in various forms. Rules and regulation will differ between states.
Contact Us To Compare LTC Quotes & Illustrations
In summary, those who wish to ensure a legacy to their heirs while also providing peace of mind to their families should consider a long term care insurance policy. New partnership-approved plans allow consumers to guarantee that at least a portion, if not all, of their estate, is sheltered.
Savvy consumers can pass on sizable sums to their beneficiaries without spending down all of their assets. This will allow for Medicaid benefits to begin earlier while retaining assets for a healthy spuse and/or children.
Consumers can learn more about partnership plans and coverage options at the Ohio Department of Insurance’s website.
Category: Long Term Care Insurance, Retirement Planning
Health care reform is coming and possibly soon. President Obama promised changes to the health care system during his run to office and has quickly taken measures to deliver on those promises. While several questions remain as to what these changes might entail, he has pledged to insure more Americans under a universal system.
It is hard to disagree with the notion that Americans need health care to be more accessible and affordable. The primary concern is the overall cost now and as a going concern. Additionally, what types of trickle down effects might develop as a result of a more universal system? And overall, do the ends justify the means?
Grim Economic Times
At present, we are in a prolonged recession at best. Consumers are losing jobs at a breakneck pace, output is shrinking quarterly, tax receipts are down, and a financial crisis not seen since the Great Depression casts a long shadow over the world. Financial and insurance giants like AIG, Citigroup, and Bank of America teeter on insolvency while the need for further bailouts cannot be ruled out.
Our government already spends more on health care than any industrialized nation in the world. Are there ways to use our current dollars more efficiently without a costly overhaul? One can only wonder if this is an ideal time for the government to infuse billions into the health care system.
Potential Cost of Health Care Reform
Thus far, the Obama administration has set aside $634 billion in a reserve fund as down-payment on reform. Current estimates say at least $1.5 trillion will be needed over a ten year period – more than two times the amount already reserved. Obviously, these are large amounts and if we know anything about government estimates, chances are they will continue to climb upwards.
There have been a few ideas as to how the taxpayers can foot such a bill, especially in light of current deficits and the recent passing of a $787 billion stimulus package. Proponents point toward potential savings through digital medical records, higher income taxes for the wealthy, and carbon emission auctions among other suggestions. But can such a large amount be generated through these measures alone? Savings from digital records has been difficult to calculate and some of these dollars have already been set aside for other government spending programs. Will income tax brackets need to be further adjusted in favor of the government?
The Sick and Uninsured
Here is where it gets a little tricky. Advocates of universal health care will tell us that a government run program will reduce costs and increase the availability of health care to the sick and uninsured. If Medicare is any example, then cost reduction is certainly up for debate. And of the 47 million who are without insurance, how many are insurable and capable of purchasing coverage, yet choose to do without. It is the sick and impoverished that need the most help.
Recent increases to Medicaid (state-run health insurance for the impoverished) eligibility requirements have made coverage more readily available to families and especially their children. This is a step in the right direction and should help millions across the country. These efforts should decrease the number of uninsured Americans. More will need to be done, but the recent proposal by the major insurance carriers to provide coverage for the unhealthy at lower rates should also help considerably if adopted.
The Demise of the Health Insurance Industry
However, if the government spends $1.5 trillion to create a large subsidized health insurance pool for Americans, what might be some unintended consequences? If this subsidized pool undercuts the current market, then it would be fair to assume that many Americans would join in order to save on premium? And when small businesses know their employees can join this pool, then why would they offer benefits at all? And what about large employer sponsored groups – can they discontinue coverage and nudge their personnel toward the government pool?
A universal system would certainly go a long way toward getting more Americans insured. However, it could have disastrous affects on the health insurance industry overall. There would be very little need for agents, underwriters, managers, marketing firms, clerical staff, and several others who are involved. The industry as we know it would downsize considerably, insurance carriers would go out of business, and many would become jobless.
Significant Job Loss
Some would say good riddance. Sure, but there are tens of thousands who work in this industry and pay taxes every year. Are we not counting on their contributions to the treasury to fund our country? Unemployment is already above 8% and some predict it will rise to 12% before the economy improves, so are we ready to add hundreds of thousands more to the unemployment rolls?
There is a quite a bit of politicking about financial companies that are too big to fail. The same argument might apply here. The insurance industry and all whom it employs are too big to undermine. It would have a devastating affect on the economy and our elected officials should recognize this consequence of a universal system.
The current health insurance industry must play a significant role in any attempt to reform health care. If they are cast off as an unneeded group, then many more American will be without jobs, tax receipts will go down, and economic conditions will only worsen.
You will get no argument from most rational people working in the insurance industry that changes must be made to insure more Americans – especially those with preexisting conditions. There are several ways this can be accomplished with the help of insurance carriers and all who make a living in the industry, but that is a topic best discussed in a separate article.
A.M. Hyers writes for Hyers and Associates, a leading provider of individual, family, and business health insurance in several states.
Category: Health Insurance, Op/Ed
We work with prospective clients all across the country who need to purchase health insurance. Oftentimes, the client wishes to know why they should use a health insurance agent to complete the transaction. In other words, why shouldn’t they just buy direct from the company? There are several reasons to use an independent agent including price, knowledge, availability, healthcare reform and service.
-Agent Assistance Request-
Understanding Health Insurance Costs And Tax Credits
It is important to note that health insurance premiums are controlled by law. No agency, agent, or company has the power to undercut their competition. In essence, you are buying direct no matter what channel you use.
Consumers often will tell us that they are shopping for the best health insurance rates. While rates for similar plans will vary between competing health insurance carriers, the exact same plan with the exact same company will be identical in price from all sellers – including the carrier itself. An agent, however, will know which providers are more affordable depending on the client’s needs.
Certain carriers are more affordable in different niches; whether it be family coverage, individual plans, short term polices, maternity, etc. An experienced agent can quickly help shoppers narrow down their choices. Speaking hypothetically, if you are working with a representative from the Anthem home office, do you think they would tell you that you can purchase similar coverage with Golden Rule for less? And when premiums increase year over year, the agent will be available to help the consumer lower their rates by either selecting a new plan or a new carrier.
Healthcare Reform & Health Insurance Plan Knowledge
This may be the single most important area that consumers need help with. Understanding health insurance jargon and plan differences can be quite difficult – especially with all of the changes brought on by healthcare reform. It is the agent’s job to explain the advantages and disadvantages of all available plans. Insurance coverage can be very comprehensive or only catastrophic in nature. If the consumer purchases a poorly understood plan, there can be negative consequences in the future.
Consumers may not understand any shortcomings without speaking to an experienced agent. The insured needs to know how the plan works, when the insurance will pay, how coinsurance works, what the waiting period is for preexisting conditions or maternity, prescription drug coverage limitations, doctor’s office copay options, and the tax advantages of a health savings account. This knowledge is paramount when selecting appropriate coverage.
Medical Insurance Underwriting Experiences
Underwriting practices can and will vary dramatically between competing health carriers. If the potential insured has certain preexisting conditions, some health insurance providers will not underwrite the insured under any circumstances. The consumer might be wasting valuable time by making an application.
To further the point, some companies will only underwrite to an accept/decline decision while others might accept the new insured but not cover a preexisting condition. Companies that use the accept/decline standard can raise the overall monthly rates for the insured depending on his/her build and or health history.
However, companies that issue polices with exclusionary riders can be a good choice for someone who has been declined elsewhere. The length of the exclusionary rider can be short in duration or indefinite. At the very least, the insured will have coverage for any unknown future health concerns.
Knowledgeable agents will know where consumers will have a better chance of being underwritten for coverage. The difficulty of underwriting only reinforces the notion that it is extremely important for consumers to purchase health insurance while they are in good overall health. There are very few advantages in waiting.
Editor’s note: There are no longer waiting periods for maternity or medical underwriting practices due to healthcare reform.
Independence and Availability With an Agent
When consumers buy direct, they may be inadvertently limiting their options. Independent agents will be licensed with several competitive companies. Not all plans are offered in all states and some benefits like dental, vision, and maternity might not be available where the consumer resides.
Network availability can also be tricky. While most carriers offer coverage in most states, there can be significant limitations to the doctors and hospitals that are in the plan’s network. And some carriers offer several networks to choose from when the policy is purchased. An agent can help you select a reliable carrier in your area and most importantly one with a strong network. Staying in network for coverage can save the insured thousands of dollars should a significant claim arise.
Personal Service From Your Health Insurance Agent
This may be the most overlooked yet most important reason to retain a good agent. Undoubtedly, questions will arise for the consumer. Of course, there will be several inquiries before the plan has been purchased, but what about service while the insurance is in force?
When the consumer buys direct from the carrier, they will be hard pressed to find an agent who will help them service their policy. After all, we are not volunteers. And most people do not enjoy long hold times when calling the carrier directly.
However, when insurance is purchased through a agent, they can be your resource for questions and answers. As an agent working in this business for over eleven years, I can attest to the fact that policyholders have many questions about changes to or explanations with their in force coverage. While it may seem trivial now, the agent can be a valuable liaison in the future – so it is counter intuitive to subtract him from the equation.
Purchasing health insurance through an independent agent is oftentimes the best means to an end. It does not cost a penny more and the agent’s knowledge and experience will result in much less work for the prospective insured. In reality, there is very little reason not to use an agent.
Hyers and Associates, Inc. is a leading independent agency offering direct to consumer medical and health insurance plans across the country.
Category: Health Insurance
There is good news for those who need stand alone dental and vision insurance. United Healthcare, through their subsidiary Golden Rule now offers dental and vision insurance in several states.
Coverage is available for individuals and families from over 70,000 providers nationwide. There are several states offering coverage and in most places you will have several different plans to choose from. Vision can be added to any dental plan or purchased on its own.
- Affordable Monthly Rates
- Four Dental Options In Most Areas
- Two Vision Insurance Plans
- Large Networks Of Providers
- Coverage Can Begin Immediately
United Healthcare Dental and Vision
This is actual dental and vision insurance, not a discount plan. There is a large network of vision providers in several states. The insured can go out of network for exams and purchases, but the most affordable benefits will be realized by staying in network.
As this is a new plan, it is not available in all states yet, but should be widely offered soon. The vision plan, when coupled with dental coverage, can be purchased in Ohio, Missouri, Arizona, California, Illinois, Indiana, Florida, Pennsylvania and several other states.
There is no underwriting needed in order to apply for coverage. There will be a short waiting period for basic and/or major services to commence with the United HealthCare dental plans, but no waiting period for routine cleanings. The vision coverage takes affect on the desired enrollment date.
UHC Vision Insurance Cost and Benefits
The cost is approximately nine dollars per month per person. In-network coverage includes:
- Eye exam every 12 months ($10 copay)
- Frames every 24 months ($25 copay)
- Most lenses every 12 months ($25 copay)
- Contact in lieu of glasses ($25 copay)
If frames and lenses are purchased at the same time, then only once copay amount is due. Not all frames and contacts are covered – therefore there is an allowance of $50 wholesale or $130 retail depending on the provider. There is no copay for non-selection lenses and contacts.
United Healthcare Dental Insurance Coverage Options
The dental insurance options accompanying the vision insurance coverage are also comprehensive. In most states, there are either two or four plans to choose from – each with a varying level of coverage.
The two plans are similar in benefits except that the Value Plan requires the insured to use in-network dentists whereas the Premier Plan does not. The insured will enjoy monthly savings on their premium by selecting the Value Plan and using the UHC dental network.
In summary, United Healthcare (United Health One) through Golden Rule Insurance Company is already known for offering very affordable health insurance plans in most states. Coverage can be purchased in Ohio, Illinois, Indiana, Missouri, Florida, Pennsylvania as well as several other states.
They have increased their offerings and thus their appeal by offering vision and dental insurance to prospective insureds as well. Click on the UHC logo above to view quotes, compare benefits and to enroll online direct.
Category: Dental & Vision Insurance
National General (Allstate) offers several different insurance options in both the individual and group markets. They are well-known for their popular short-term plans, but also offer dental policies, fixed benefit, cancer stroke, & heart attack plans, hospital indemnity as well as self-insured small group coverage.
- Guaranteed Issue Short Term Coverage
- Nationwide Aetna Network
- Cancer, Stroke & Heart Attack
- Add-On Dental Coverage
- Zero Underwriting Options
Short Term Health Insurance Options
The Affordable Care Act has made it difficult for some to find coverage that meets their needs and budget. Many consumers have turned to short-term coverage to fill gaps and cover the unexpected. National General aims to meet the needs of those who have been priced out of ACA coverage by offering two different short term health insurance plans. One is medically underwritten and the other can be purchased on a guaranteed issue basis.
Both cover a wide range of medical needs and can be tailored to meet most budgets. The medically underwritten plan is best for those in good health while the guaranteed issue plan works well for those who are content to cover unexpected healthcare needs, but not ongoing conditions.
In many states, plans can be purchased that last 12 months. (Some states only allow for 6-month plans.) Strategies can provide coverage for a full year without worries of future insurability. While short-term plans are not ACA-compliant, they tend to be much less expensive and can provide peace of mind for the insured – especially when purchased in blocks.
Group Coverage That Avoids Penalties
There are two main penalties associated with the Affordable Care Act (aka Obamacare). The first is the A penalty for failure to provide coverage to a group of 50 or more full-time employees. The second is the B penalty which is enforced when employees purchase subsidized coverage on the Federal Marketplace.
The A penalty is often referred to as the sledgehammer and is much more costly. The B penalty is lower and does not hurt as much. In order to avoid the B penalty, groups only need to offer Minimum Essential Coverage. These plans can be found for under $50 a month per employee in many instances. A few insurance companies specialize in these plans to help employers stay compliant.
If you wish to offer more comprehensive group health insurance, then a self-funded plan with National General (0r others) can be a good choice. These fully underwritten plans tend to cost less and work well in groups that trend younger and healthier. Several of our clients have saved thousand of dollars a month using this technique while not sacrificing their benefits.
Dental, Critical Illness, Cancer, Heart Attack, & Stroke
National General offers several ways to fill in your coverage gaps. Whether you are under 65 and on a traditional health plan – or over 65 and on a Medicare supplement or Advantage plan, there are several options to cover unknown accidents and illnesses.
Fixed indemnity and critical illness plans are growing in popularity as more and more insurance plans increase deductibles and cover less. These types of insurance cover the first dollar costs associated with accidents, illness, cancer, stroke, heart attack and more.
Most pay a fixed amount (you choose the amount at purchase) should one of these events be encountered. This coverage can go a long way in keeping your assets stable in times of need.
Aetna & Cigna Health Insurance Network Options
National General (now Allstate) uses Aetna & Cigna network of doctors and hospitals. If your medical providers accept Aetna, then they should also accept National General Health. This is a very large, stable network and encompasses many areas across the county.
In summary, National General is a carrier offering both catastrophic and comprehensive plans to the public. Those who desire affordable coverage with robust network options should consider their offerings. Working with us, consumers can enroll in a suitable plan for themselves, their family, or their small business. Contact us today to learn more!
Category: Health Insurance, Illinois Insurance, Missouri Insurance Products
A bankruptcy judge recently approved Delphi Corporation’s reorganization and subsequent request to terminate life and health insurance benefits to many of its retired employees. Benefits could be lost as soon as April 1st for the affected retirees. Former salaried employees will need to explore all available options in order to maintain medical coverage.
Medicare Supplement Coverage
Fortunately, many retirees will have guaranteed enrollment options available to them. Those over age 65 will be eligible to apply for a Medicare supplement plan without underwriting taking place by the chosen insurance company. There are no health questions to be asked or answered. This period of guaranteed issue for former Delphi employees will vary between states, but will not last long – usually one to three months. If the open enrollment window is missed, then retirees can be turned down by the insurance company due to poor health.
-Contact Us for Medicare Supplement Information-
Prescription Drug Coverage
If former employees choose a Medicare supplement plan to compliment Parts A and B offered by original Medicare, then they will also want to consider prescription Part D coverage. Part D monthly premiums and prescription co-payments will vary between companies, but will lower overall drug costs for Medicare recipients. Retired employees will also be guaranteed eligible for rx coverage.
Health Insurance Options
Employees under the age of 65 who are not eligible for Medicare will need to seek insurance in the individual and family markets. There are several companies that will consider them for coverage, but underwriting will need to take place. United Healthcare, Anthem, Aetna, Assurant, American Community, and Medical Mutual are reputable health providers in Michigan and Ohio where many retirees currently reside. Knowledgeable agents can narrow down available options depending on the needs of the insured.
-Contact Us for Health Insurance Information-
Life Insurance Options
The need for life insurance typically decreases for retired employees, but still may be a necessity for a number of reasons. Term policies will be most affordable while whole life coverage will cost more. Life insurance, when properly structured, can circumvent federal and state inheritance taxes while also passing income tax free to beneficiaries. If needed, a new life policy will be available for most retirees.
In summary, Delphi workers should work with an agent to determine a reasonable course of action to maintain health and/or life insurance coverage by April 1st. Those over age 65 should have little trouble enrolling as long as they take advantage of the guaranteed issue time period. Those under age 65 will need to pursue plans in the individual and family market if a new employer sponsored plan has not been located.
Category: Medicare Supplements
Medicare has many gaps and will not pay for all of your health care related claims. For this reason, many Medicare recipients purchase a supplemental plan to fill in all or the most common gaps.
The chart below details ten standardized Medigap plans and explains the different available coverages. It is important to note that private insurance carriers cannot adjust the coverages below in any way. The only difference between carriers is the price for the chosen plan.
New Medicare Supplement Coverage Chart 2014
| Benefits |
A |
B |
C |
D |
F |
G |
K |
L |
M |
N |
| Part A Hospital Coinsurance |
Y |
Y |
Y |
Y |
Y |
Y |
Y |
Y |
Y |
Y |
| Lifetime Reserve Days |
Y |
Y |
Y |
Y |
Y |
Y |
Y |
Y |
Y |
Y |
| 365 More Hospital Days |
Y |
Y |
Y |
Y |
Y |
Y |
Y |
Y |
Y |
Y |
| Parts A and B Blood |
Y |
Y |
Y |
Y |
Y |
Y |
50% |
75% |
Y |
Y |
| Part B Coinsurance |
Y |
Y |
Y |
Y |
Y |
Y |
50% |
75% |
Y |
Y |
| Part A Hospice Coinsurance |
Y |
Y |
Y |
Y |
Y |
Y |
50% |
75% |
Y |
Y |
| Skilled Nursing Coinsurance |
|
|
Y |
Y |
Y |
Y |
50% |
75% |
Y |
Y |
Part A Deductible
$1,216 in 2014 |
|
Y |
Y |
Y |
Y |
Y |
50% |
75% |
50% |
Y |
Part B Deductible
$144 in 2014 |
|
|
Y |
|
Y |
|
|
|
|
|
| Part B Excess |
|
|
|
|
Y |
Y |
|
|
|
|
| Foreign Travel Emergency |
|
|
Y |
Y |
Y |
Y |
|
Y |
Y |
Y |
| Preventive Care Coinsurance |
Y |
Y |
Y |
Y |
Y |
Y |
Y |
Y |
Y |
Y |
| Out of Pocket Limit |
|
|
|
|
|
|
$4,940 |
$2,470 |
|
|
–Request a Medicare Supplement Quote Here–
Medicare Supplement Insurance Explained
Medicare supplements are offered by private insurance companies through independent agents. Traditional Plan F offers the same coverage no matter the company. First year premiums and renewal premium increases are what differ from company to company. Experienced agents like ours can help consumers choose a suitable plan based on these variables.
Medicare Basic Benefits
Basic benefits are covered by all Medicare Plans A-F. After the hospital deductible has been reached, Medicare pays for hospital costs up to 60 days. After 60 days, Plans A-F pay for days 61-90. After 90 days, Plans A-F pay $608 (in 2014). If all 150 days are used, then all Medigap plans pay for 365 more lifetime hospital days.
After the Part B deductible has been reached, all supplemental plans cover 20% of the Medicare approved amount for doctors services, 50% for mental health services, and 100% for some preventive care services. Additionally, Plans A-F cover the first three pints of blood.
Medicare Part A Hospital Deductible
Medigap Plans B-F pay the hospital deductible ($1,216 in 2014) for each benefit period.
Skilled Nursing Facility Care
Original Medicare pays for the first 20 days of skilled nursing care and a portion of days 21-100. Plans C-F cover the remaining portion not covered by Medicare during days 21-100 ($152 per day in 2014). It is important to note that neither Medicare nor supplemental insurance pays for care beyond day 100. Consequently, many seniors purchase a long term care insurance policy.
Medicare Part B Deductible
Plans C and F cover the Part B deductible for doctor and other medical related services.
Part B Excess Charges
Plans F and G pay 100% of doctors charges above and beyond the Medicare approved amount. Doctors who do not accept assignment can charge up to 15% more than what is normally approved.
Foreign Travel Emergency
Medicare will not cover health care services received outside of the United States. Plans C, D, F, and G cover emergency care outside of the U.S. once a $250 deductible has been reached by the insured. This benefits pays 80% of the emergency care expenses up to a $50,000 lifetime maximum.
At-Home Recovery
Older plans D, G, I and J cover at-home health care if skilled home health care covered by Medicare has also been received. Plans cover medical assistance for up to eight weeks after skilled care is no longer needed.
Visits up to $40 a day, seven days a week, up to $1,600 a year is the maximum amount covered. Again, long term care insurance is the best hedge against expensive home health care visits that primarily involve custodial, intermediate or skilled care.
Preventive Care
Original Medicare covers some preventive care services, but older Plans E and J cover up to $120 a year in additional services not already covered. An example could be a routine physical.
Prescription Drug Part D Benefits
After changes to existing law, Medigap plans no longer cover prescription drugs. Part D prescription drug coverage is now a separate insurance purchased from private health insurance companies.
Not all plans are exactly alike and monthly premiums, drug co-pays, and plan deductibles can very between companies. Typically, private insurers offer three plans to choose from. The federal government offers comparison services at their website www.medicare.gov so consumers can locate a suitable drug plan.
Category: Medicare Supplements
This most recent downward economic spiral is negatively impacting the bottom line for many corporations. Companies both large and small are laying off employees at record levels in order to maintain profitability. Many businesses are simply looking for immediate ways to lower costs. A simple, yet effective solution is to purchase less expensive group health insurance coverage.
Changing health insurance plans or switching group carriers does not necessarily mean less coverage for the business and its employees. Many carriers are willing to negotiate monthly premiums to maintain a valued client or to procure a new one. An important piece of the transaction is the insurance agent or agency.
Independent Group Health Insurance Agents and Agencies
An independent agent can be a valuable asset to any business owner. Experienced agents will be licensed with several carriers and can “shop” the coverage with several reputable carriers such as Anthem Blue Cross & Blue Shield, Aetna, Assurant Health, Humana, Medical Mutual, United Healthcare and others.
Independent agents might also have a direct line to the underwriter working at the preferred insurance company. By opening up a dialogue with those who determine price, negotiations can take place in order to reduce the group risk factor. Less risk and lower premiums will save the business owner valuable dollars.
For the business owner, it is worth knowing that agents are not usually paid a commission based on the amount of premium they bring to the health carrier. Rather, most are compensate based on the number of insured employees in the group. In this way, an agent will work hard to negotiate a lower rate for new and old clients alike. When rate increases occur, the agent can price the group policy with new carriers and maintain their book of business.
HSA, FSA, HRA and Self Insurance Group Health Insurance Plans
Knowledgeable agents can also recommend a suitable plan for a new business or for a company looking to change coverage plans. HSA and HRA qualified plans are innovative options in the employer market worth exploring. Typically health savings account qualified plans will have a higher deductible, but much lower premiums. Employers can make contributions to the employees health savings account which will help offset a change in deductible. Employees can use the accumulated funds for routine medical expenses as well as meeting the deductible. Additionally, contributions to an HSA provide tax advantages to the company and the insured.
In summary, there are many benefit options available in the group health insurance market. Independent agents and group health insurance agencies like ours working through several carriers can be a valuable asset to your corporation. Negotiating with the preferred carrier and implementing innovative products can lower monthly premiums significantly for the business owner.
Category: Group Health Insurance
As a life and health insurance agent with fifteen years of experience, I am still unsettled by the number of inquiries I get from prospective clients who I cannot help.
Pregnant mothers looking for maternity insurance, consumers who need dental insurance because of a root canal, family members trying to purchase long term care insurance for someone entering a convalescent facility – the list goes on. Simply put, you must plan ahead and purchase insurance before these types of event occur.
Problems with Losing Group Health Insurance Coverage
A major issue facing many Americans is what to do when they lose employer sponsored coverage. Senior employees may wish to retire, but are not yet eligible for Medicare.
Additionally, the recent economic downturn has led to many layoffs and forced many employees off of company health plans. COBRA is an option for some, but unfortunately it is only temporary in nature and can be very expensive.
Guaranteed Health Insurance Plans
In order to address this problem, United Healthcare (United HealthOne) has created a very innovative product for those who wish to plan ahead. It is called UnitedHealth Continuity and is designed to protect against voluntary or involuntary health insurance loss. Consumers can purchase insurance and by paying a small percentage of the premium can keep their coverage dormant until it is needed.
How Does It Work?
View UHC Quotes Here »
Like all insurance products, this policy needs to be purchased while the prospective member is healthy enough to be medically underwritten. In this way, the medical coverage is a hedge against the unanticipated poor health coupled with the loss of employer coverage.
The consumer can purchase a traditional health insurance plan of their liking and add the continuity rider to the policy. If they are already insured through their place of employment, then the policy can be deactivated until it is needed.
The insured only pays a fraction of the premium to keep the policy in force, but inactive. (If the insured needs individual or family coverage now, then the policy would be in force and could be deactivated later if group coverage became available.)
Health Coverage Without Medical Underwriting
Once the loss of group coverage occurs, the insured provides proof and their previously selected plan with United Healthcare is now active. Medical underwriting is not required as the consumer was already underwritten when the plan was purchased. In this way, there are no gaps in coverage and the insured does not have to worry about changes in their health status.
In summary, by purchasing a health plan with a continuity rider now, early retirement and/or loss of group coverage will no longer cause problems. Employees are not tethered to their jobs because of health insurance issues so long as they purchased a plan in anticipation of loss of coverage. By simply planning ahead, consumers can worry less about early retirement and loss of group benefits.
Category: Health Insurance
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