Today’s seniors have dozens of choices to make when they get their Medicare benefits. Choices are good, but sometimes they can also be confusing. One very popular plan, today, is called Medicare Advantage. Take a little time to clear up some of the confusion about Advantage plans so you know if they are good for you.
The next step is you will want to consult an insurance broker that specializes in the various forms of coverage because at some point you will need to secure either a Medicare Advantage Plan or a traditional medicare gap cover plan. A good insurance broker will be able to clarify and expand on the research you have done previously so that you are aware of everything you need to know and ultimately will help you make a good decision about your Medicare coverage.
Here are three common, yet serious violations. A repeated one, I have seen personally on numerous occasions, is a seminar for seniors where a free meal at a local restaurant is included. This next one has a high volume of agent and broker violators. Here a direct mail piece is sent out to say 1,000 seniors in an area. Agents then make phone calls to those that did not respond. The third violation is one that countless long term care producers have never been told. It is simple to explain, do not make unsolicited calls to seniors.
The answer is yes, if you meet Medicare qualifications. Senior citizens in GA who have original Medicare and a gap plan can really get a free electric wheelchair.
The attained age rate premium may seem like the lowest premium of all. Out of all the medicare supplements pricings, it starts out at the lowest pricing. However, it doesn’t stay low. The premiums will go up as you get older. They will continue to go up. It is similar to an adjustable rate mortgage. There is no fixed price, or guarantee of a fixed price. This will hurt you in the long run. It’s a common fact that you will have less income as you get older. With continuously increasing premiums, you may find that you can’t afford to pay for your supplemental insurance at all. This can result in loss of policy, which you may need at a crucial time in your life.
Does your present GA agent or insurance carrier notify you of the proper time period to change insurance? Of course not. The insurance company wants to keep taking your extra cash. What about that mystery agent? Since 93% do not survive the first four years, you will find your representative likely long gone. When you pay more than you should it is because you did not know the best Medicare solution choice for your needs.
Since Medigap only covers the policy holders, couples may save money by only having one supplement plan. This plan will cover the partner that really needs it. It’s a good move to make if one partner seems more prone to illness than another, or has a debilitating disease. It’s not wise to purchase these type of plans “just in case something happens.” At this stage, you’re likely trying to save money instead of wasting it. It would be beneficial to you to sit down and see if you truly require a supplemental plan before purchasing one.