Co-Insurance and Co-Payment Policies
Co-Insurance and Co-Payment-Choosing the Best Option Co-insurance and co-payment are two forms of cost sharing that insurance companies utilize. It is important to understand how they work. Understanding this process will help you save money on your health care expenses. In this article, we will define co-insurance and co-payment and go into how they work. Once you are armed with this knowledge you will be able to choose the best health insurance option for [...]
Long-Term Care Insurance Basics
Preparing for Long-Term Care 70% of those over the age of 65 will need some form of Long Term Care during their lifetime. This is compared to a 25% chance that you will be in a car accident on the The Most Dangerous Roads in your area or have a house fire. The difference is everyone keeps automotive and homeowner’s insurance to be prepared, whereas most people do not prepare for long-term care. There [...]
Medicare Annual Election Period
When Can You Elect New Medicare Benefits? The Medicare Annual Election Period, or AEP, happens each year. It starts on October 15th and ends on December 7th. During this time, you have the chance to change your Part C or Part D coverage. To prepare you for this Annual Election Period we have compiled a list of 5 things every Medicare Beneficiary should know about AEP. 1. The Annual Election Period is Not the [...]
Health Insurance SEP
SEP (Special Enrollment Periods) Typically, you can only purchase health insurance coverage through the Marketplace Exchange during the Open Enrollment Period. This lasts between November 1st and January 31st each year. However, there are some qualifying events that trigger Special Enrollment Periods, or SEPs. If you qualify for a SEP you can enroll in a Marketplace plan even if it is not Open Enrollment. This article will go over several different events that trigger [...]
Open Enrollment Health Plan Basics
Navigating Open Enrollment Health Plans Open enrollment for health insurance begins November 1st! With all the recent healthcare law changes there are more options than ever before. All the choices and new procedures can be overwhelming. This article will break down the different healthcare terminology so that you can be thoroughly educated and get the best plan for the best price. Essential Health Benefits With the newly enacted healthcare laws, there have been changes [...]
Understanding Medicare Part C
Medicare Part C: Breaking Down its Coverage Medicare is made up four different parts. Parts A and B are provided by the government and cover you for your basic hospital and doctor needs. Part D is your prescription drug coverage that you sign up for through a private insurance company. Finally, there is Part C, sometimes referred to as Medicare Advantage. Part C is additional coverage that you can receive through a private insurance [...]