MEDICARE & INSURANCE

Before choosing a Medicare plan, it is beneficial to understand the fundamentals of Medicare. Medicare provides health insurance to Americans aged 65 and above, as well as people with certain disabilities (who may be younger than 65). There are three basic requirements you must meet in order to be eligible for Medicare:

• You must be at least 65 years of age
• You must hold U.S. citizenship status for at least five years
• You must have a qualified disability if you are under the age of 65

You must actively sign up for Medicare, as it does not automatically kick in when you qualify.

When we look at choosing a plan for our clients, there are 2 basic options:

1. Original Medicare (Part A & B) combined with a Medicare supplement plan plus an individual drug plan (Part D)
2. Medicare Advantage Plan (Part C)

The goal of our appointment with you will be to explain the difference between these options and make an informed decision based on your individual circumstances and health needs.

As an independent agency, we have access to every carrier licensed to do business in Michigan and therefore, are able to tailor your plan to your specific needs. These carriers include:

As the name “Medigap” implies, there are gaps in Original Medicare. Combining Original Medicare with a Medicare Supplement plan can help you cover your bases when faced with healthcare costs not covered by Original Medicare.

• Medicare Supplement Plans are NOT Medicare Advantage Plans
• You must be enrolled in Medicare Part A and Part B to purchase a Medicare Supplement Plan
• Any standardized Medigap policy is guaranteed renewable even if you have health problems. This means the insurance company can’t cancel your Medigap policy as long as you pay the premium.
• Medigap policies do not cover prescription drugs. If you want coverage for prescription drugs, we can enroll you in Medicare Part D (prescription drug plan).

Work with one of our Licensed Medicare Specialists to get all of your questions answered. We’ll do an in depth review of your healthcare needs and choose the best plan for you.

• You can generally join a Medicare Advantage plan if you live in the plan’s service area, have Medicare Part A and Part B, and don’t have end-stage renal disease.
• You can only join a plan at certain times of the year. You can discuss this with your advisor.
• Medicare Advantage Plans have a yearly limit on your out-of-pocket costs for medical services. Once you reach this limit, you’ll pay nothing for covered services. This limit may be different between Medicare Advantage Plans and can change each year. You should consider this when choosing a plan.
• Remember that Medicare Advantage plans may seem attractive in price, but that it is important to review your coverage options with your advisor.

Work with one of our Licensed Medicare Specialists to get all of your questions answered. We’ll do an in depth review of your healthcare needs and choose the best plan for you.

Part D is prescription drug coverage offered to everyone with Medicare. There are 2 ways to get Medicare Part D:

1. Medicare Prescription Drug Plan (Part D) – These plans add drug coverage to Original Medicare.
2. Medicare Advantage Plan (Part C) – You can get Medicare Part A, B, and D, your prescription drug coverage through a private company’s Medicare Advantage plan.

• You cannot be enrolled in a stand-alone drug plan at the same time as being in a Medicare HMO or PPO, even if it doesn’t cover drugs.
• You can enroll in a stand alone drug plan if you have traditional Medicare, a Medicare MSA, or a private fee for service plan that does not offer drug coverage
• Each plan may vary in cost and drugs covered.

Work with one of our Licensed Medicare Specialists to get all of your questions answered. We’ll do an in depth review of your healthcare needs and choose the best plan for you.

Knowing our loved ones are secure and financially stable when we are gone is extremely important to most of us. The concept of Life Insurance is pretty straightforward – you pay for an insurance plan now to financially protect your loved ones should you pass away.

Although the concept is quite simple, it can be hard to choose between the many companies, options and types of Life Insurance out there.

If you need long term life insurance with the option to build cash value, permanent life insurance may be for you.

There are 3 types of permanent life insurance:

1. Whole Life Insurance – This is a life insurance policy which is guaranteed to remain in force for the insured’s entire lifetime as long as the required premiums are paid, or to the maturity date.  Premiums are fixed, based on the age of issue, and usually do not increase with age. This policy builds value based upon a set schedule.
2. Universal Life Insurance – This type of policy earns a fixed interest rate on the cash value in the policy. While the interest rate may change over time, it will never dip below a guaranteed minimum rate.
3. Variable Universal Life Insurance – This can be a riskier type of life insurance policy that allows you to invest your cash value into the stock market.

There is a lot to know about life insurance and we know choosing the right policy is an important decision for you and your family.

Long Term Care, Short Term Care, and Disability Insurance are plans available to protect you and your loved ones in the event that you are injured, or need short or long term expert care.

The median annual cost of a private room in a nursing home in 2014 was $94,718!¹ At least 70 percent of people over age 65 will need long term care services and support at some point in their lifetime.²  Effective planning with Long & Short Term Care plans can help you manage these costs if the need arises.

Long Term Care insurance is used to protect your assets in the event that you need care inside of a nursing home, assisted living facility, and/or in-home care.

Disability Insurance protects you and your family in the unfortunate event that you are injured on or off the job.

Planning for these circumstances can be challenging. We can help you determine whether you may need LTC, STC, or disability insurance.

If you are self-employed, do not receive health benefits through your employer, or if you have lost your job with benefits, you’ll need to choose an individual health insurance plan.

There is a wide variety of plans and coverages available depending on your healthcare needs and budget, and our advisors can help you choose the plan that best meets those needs. We can also determine whether you may qualify for a subsidy from the government.

There are many questions surrounding the Affordable Care Act and choosing an individual health insurance plan. Please give us a call at 810.534.3008 and an advisor can answer your questions and guide you to the best plan for your situation.

Our Partner company YourWay Tax can also help when it comes time to discuss the tax implications of the ACA and assure you receive any subsidy you qualify for.

If you own a business, we know you’ve worked hard to get there. By protecting your business and personal assets, you eliminate worrying about losing what you’ve worked so hard to accumulate and focus on striving into the future. We can recommend the proper products and coverages you need to adequately protect your assets, including:

• Personal & Business Liability Insurance
• Personal & Business Contents Insurance
• Umbrella Insurance
• Workers Compensation Insurance
• Professional Liability Insurance