Southwest Florida's Health and Wellness Magazine Health and Wellness Articles
By Ulla-Undine Merritt (Dee) National Producer Number (NPN) 8853366
Obama Care/Affordable Care Act – August 15,2021 deadline for new policies issued. The Government extended your ability to enroll in health insurance on the Market Place due to COVID. This special enrollment period will end this month! The website is HealthCare.gov, your local insurance agent can help you through the maze and there is no charge generally for their services. The government also increased how much money you can earn and qualify for subsidy to help lower your cost for insurance. Many people are not aware that they do not need to forgo having health insurance and there are affordable options for them. Insurance is not just about the price of the premium but very important the network of doctors, hospital, etc. that you can have access to. This year a carrier can on board in Lee County and folks that enrolled were not aware that Lee Memorial was NOT in that carrier’s network. This is a big deal! So, in their case to be treated as in network they would need to call the carrier and get approval to have the charges covered as a Medical Emergency out of Network.
Individual/Family Health Insurance – Being young and healthy does not mean you do not need health insurance. Do you know anyone that knew when they were going to be diagnosed with cancer, or when they were going to have a heart attack or even a serious accident? I do not, it happens, and insurance is there to help you get the care you need and limit your financial exposure. What are your insurance options, and what is best for you? Employer Group Coverage, Individual Medically Underwritten Health Insurance, Medicaid, or the Government Market Place Guaranteed Issue Health Insurance. There is a lot to know about the differences, as well as the cost. The monthly premium should not be your only consideration. You do not know what you do not know so ask the experts that do know about all of them and can help educate and guide you thru the enrollment process. When it comes to medically underwritten plans most of them you can enroll all year long, but you can also be denied based on underwriting.
Medicare – Annual Enrollment Period October 15-December 7th, 2021, for January 1st, 2022, effective. Generally, when you turn 65 you are eligible for Medicare, once you have worked 40 quarters roughly 10 years there is no cost for Medicare Part “A”. Part A covers Hospitals, Skilled Nursing, Home Health & Hospice. Medicare Part B you can choose to take at 65 or you can hold off if you are still working and have credible coverage. Also, if you then want Part B later there is a special enrollment Period (Jan-Mar), and the earliest effective date is July (if you did not have group coverage). If you did not have group health insurance that is considered qualified, you would have a late enrollment penalty for each month you did not have Part B & Part D and that penalty will last monthly for the rest of your life. Part B covers, doctors, imaging, blood work, ambulance, durable medical equipment, etc. Part D is a Medicare Drug Plan and covers medications. During your initial enrollment period it is very important to understand your options! Medicare Supplements are NOT guaranteed. You can purchase them during your 1st 6-month of Medicare Part B being effective without medical underwriting. There are a lot of things you need to know. Again, work with an agent you can trust! Very important: when you move you need to know your options. Can you keep the same plan? Do you need to make a change and what does that look like in your situation?
Life Insurance – Is the only life insurance you have through your employer? Most employer group life coverage is not portable, what that means when you leave your employment you will lose your coverage. Apply for life insurance as young as possible while you still do not have health issues. Life insurance has many great benefits. Did you know that some policies grow in cash value that you can use when you need it? So, no you do not need to die to use your life insurance. There are many different types, and we can probably find an option that would work for you!
Whole Life Policies for children make wonderful gifts and leaves a legacy. As an example, I buy my grandchildren each a $100,000 life insurance policy that will be paid in full in 10 years. The policy grows in cash value, the premium is set for 10 years and then it is Paid in Full. My 5-month-old granddaughter’s policy cost me $748.00 for the year and I could have chosen to make monthly payments. Whole Life policies have so many wonderful benefits.
Logical Insurance Solutions is a SWFL Insurance Broker that works with most of the carriers, we are happy to help you through the maze. This is what we do daily, it is second nature to us. We offer virtual seminars, one on one WebEx, phone and in person appointments.
To learn more about your options call to schedule an appointment:
Logical Insurance Solutions for all your
insurance needs – Dee Merritt
info@logicalinsurance.com
www.Logicalinsurance.com 239-362-0855
