Health Insurance. What you need to know!

By Ulla-Undine Merritt (Dee) National Producer Number (NPN) 8853366

2020 was certainly a trying year for all of us with COVID19 changing the way we live, work and even who we meet. Health Insurance is often looked at as a bill that is optional and not necessary. Really? Why would you not consider your health and life not the most important thing? If you become terminally ill you might not be around much longer so that new car, all the channels on your TV become less important to not at all. Some of the reasons I hear people do not get insurance is, it is too confusing, how do I know what I need, it costs to much for as little that it covers, I never hit my deductible, it cost too much, and I am healthy. Everything costs to much if there is no presumed value!

All the answers could be so simple if you work with an agent, and I always recommend that you, see them and get to know them, check them out. Why? Just because someone has a license does not always mean they are good at what they do or have your best interest at heart. Most of the time (99%) there is no charge to you for insurance professional assistance and the cost is the same as if you did it all yourself. Did you ever go online and then get bombarded with e-mails and phone calls? If you talked to any of those people that called, and you bought something from them. Would they be available if you have a question? Can you reach them directly? What if they sold you the wrong thing, now what? These are just some of the reasons you should work with a trusted professional. We do advertise but 85% of our business comes from client referrals. Our clients remain our clients.

Medicare – 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?

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. The Market Place has extended the Special Enrollment Period this year due to COVID-19 to August 15, 2021.  There are some carriers that have joined the Market Place this year that DO NOT have all the local hospitals in network, so be careful when making choices.

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!

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