What is Medicare?
Federal Health Insurance for people over 65 years of age or on Medicare Disability.

What is Medicaid?
Welfare.

What is Part “D”?
Prescription Drug Insurance provided by Medicare. Do not buy a plan just because it covers the drugs you use now. Try get a plan that has more than 90 of the top 100 drugs in it’s formulary. You may need them in the future!

What is the penalty for not applying for Medicare Part D”?
A penalty of 1% per month will be applied to the premium if Part “D” is purchased at a later date, also there will be only a short open enrollment period each year.

Do I need a Medicare Supplement along with Medicare Part “D”?
Yes, unless you have insurance from another source.

Am I paying too much for my Medicare Supplement?
By referring to the comparison chart you can see how much other companies are charging.

Why doesn’t my supplement pay the whole bill?
Maybe you have a plan that only pays 20% of what Medicare Approves.

When is the open enrollment period for a Medicare supplement?
Generally the first 6 months in which you start Part “B” of Medicare.

Which is the most popular Medicare Supplement?
Plan “F”.

Is there a Medicare Supplement with a Deductible?
Yes.

Can an insurance company refuse to sell me a Medicare Supplement?
Yes. A company can decline you because of poor health unless you fall within the guidelines for guaranteed issue.

What does an Insurance Broker do?
An insurance broker represents the client, and finds the insurance that is the best value.

Who pays the insurance broker?
The Insurance Company pays the broker instead of paying their own sales staff.

What’s the difference between an HMO and a Medicare Supplement?
An HMO limits the doctors and hospitals that you can use. A Medicare Supplement allows you to visit any doctor, any hospital, anywhere, without getting a referral from anyone.

What is a Medicare Advantage Regional PPO?
A Preferred Provider plan that allows you to use a State-Wide Network including Doctor, Hospital, Ambulance and Prescription Drug Benefits.

What is Long Term Care?
Something you may need if you can no longer perform everyday tasks by yourself. For example, there may come a time when you need help getting dressed, eating or bathing. It also includes the kind of care you would need if you had a severe cognitive mpairment like Alzheimer's disease.

You can receive this care in a variety of settings, including your home, an assisted living facility or a nursing home. 80% of all people receiving long term care assistance are not in nursing homes.

The national average cost of a semi-private room in a nursing home is $64,240 annually. Depending upon where you live and the type of facility that you would prefer, costs can be significantly higher.

Many people don't realize that the need for long term care can strike at any time. Statistics show that 40% of people receiving long term care services are between the ages of 18 and 64.

Medicare does not cover custodial care.Medicare’s job is to get you well. It only pays limited amounts for skilled nursing care following a hospital stay.

Medicaid (Welfare) is designed to protect those with minimal assets. To qualify, you must first become impoverished.

What is Long Term Care Insurance?
Insurance that allows you to retain your independence, preserve your quality of life, stay at home as long as possible, protect your assets and savings and avoid burdening family and friends both financially and physically.

A good policy would include home care, assisted care including Alzheimer’s facilities and nursing homes, adult day care, hospice care, home health aides, homemaker services, physical, occupational and speech therapy, in home safety devices, rental of emergency edical response devices, and respite care for your primary unpaid care giver.

Compound Inflation Coverage (Generally 5%) with no limit on the duration of benefits is desirable.

Waiver of Premium. Most companies allow you to stop paying premiums once you start receiving benefits.