Adler Insurance Explains What Medicare Supplemental Insurance Means for Prescott Seniors

When you turn 65, you become eligible for Medicare. Besides the traditional Medicare coverage offered through the government, individuals also have a choice of a number of other plans provided through private insurance companies in lieu of standard Medicare. Adler Insurance can not only handle your basic Medicare coverage, but we also offer Prescott area residents Medicare Supplemental Insurance.

A Medicare Supplement Insurance (Medigap) policy helps pay some of the health care costs that Original Medicare doesn't cover, like copayments, coinsurance, and deductibles and are sold by private insurance companies. Here’s a few things you might like to know about Medicare Supplemental Insurance, also known as MediGap.

• You must have Medicare Part A and Part B.
• If you have a Medicare Advantage Plan, you can apply for a Medigap policy. But, make sure you can leave the Medicare Advantage Plan before your Medigap policy begins.
• You pay the private insurance company a monthly premium for your Medigap policy. You pay this monthly premium in addition to the monthly Part B premium that you pay to Medicare.
• A Medigap policy only covers one person. If you and your spouse both want Medigap coverage, you'll each have to buy separate policies.
• You can buy a Medigap policy from any insurance company that's licensed in your state to sell one.
• 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.
• Some Medigap policies sold in the past cover prescription drugs. But, Medigap policies sold after January 1, 2006 aren't allowed to include prescription drug coverage. If you want prescription drug coverage, you can join a Medicare Prescription Drug Plan (Part D).
• It's illegal for anyone to sell you a Medigap policy if you have a Medicare Medical Savings Account (MSA) Plan.

Medigap policies generally don't cover long-term care, vision or dental care, hearing aids, eyeglasses, or private-duty nursing but often cover items that are not covered by traditional Medicare.

For answers to any questions about Medicare or Medigap, call your local Prescott Medicare insurance professionals from Adler Insurance at 928-710-1455.  To learn more about the coverage we can offer, please visit our website at http://www.adlerlifehealth.com.

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You’re young… Adler Insurance explains why you should buy life insurance in Prescott

There are several good reasons for buying life insurance when you’re young. While everyone’s situation is different, there are some factors to consider that you may not be aware of. Adler Insurance, your local life insurance agent, brings you these tips.

Benefits: Life insurance is primarily purchased for the death benefit, but life insurance also has living benefits. The purchase of a whole life policy while you’re young can create a cushion for expected, or even unexpected events. Cash value accumulated in a whole life policy can be borrowed against, and used for a college education, a wedding, or even purchasing your first home. Your life insurance professional can help you structure your loan properly.

Retirement: Most of us understand the importance of having a 401K, an IRA and investment accounts to prepare for retirement. Having a whole life policy as part of your retirement portfolio means you can use some of the cash value of your life insurance to supplement your retirement income.

Premiums: The cost of life insurance premiums are based on age and health. Generally, the younger you are, the lower your life insurance premiums will be. If you wait until you’re older, you risk the possibility of a health status change, and you may be unable to obtain life insurance at an affordable cost, if at all. You’ll want to lock in your premium while you’re young--then it’s guaranteed to never increase.

Family: If you’re young and single, you may have more disposable income at this season of your life versus waiting until you have the expense of starting a family to consider.

Whether or not you are starting a new family or just out of high school, thinking about getting life insurance in Prescott is a must! Adler Insurance is here to help, call 928-710-1455. Visit us at http://www.adlerlifehealth.com.

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Adler Insurance Tells Prescott Residents Turning 65 Is More Than Just Another Birthday

In January, 2011 the first Baby Boomers turned 65 and between now and 2030, almost 10,000 a day will turn 65. Adler Insurance in Prescott would like to remind you that if you are about to turn 65, it is time to think about Medicare. You become eligible for Medicare at age 65, and delaying your enrollment can result in penalties, so it is important to act right away.

Unfortunately, it’s not just a simple decision. There are many choices when signing up for Medicare and they actually vary by State and County of residence. There are a number of different options to consider when signing up for Medicare. Medicare consists of four major programs:

• Part A covers hospital stays
• Part B covers physician fees
• Part C permits Medicare beneficiaries to receive their medical care from among a number of delivery options, and
• Part D covers prescription medications.

In addition, Medigap policies are available which offer additional coverage to individuals enrolled in Parts A and B.

Medicare enrollment begins 90 days before turning 65, and up to 7 months after. If you don't have an employer or union group health insurance plan, or that plan is secondary to Medicare, it is extremely important to sign up for Medicare Part B during your initial enrollment period. Note that COBRA coverage does not count as a health insurance plan for Medicare purposes. Neither does retiree coverage or VA benefits. 

Just because you have a certain type of health insurance doesn't mean you don't have to sign up for Medicare Part B. If you do not sign up for Part B right away, then you could be subject to a penalty. Your Medicare Part B premium may go up 10 percent for each 12-month period that you could have had Medicare Part B, but did not take it. In addition, you will have to wait for the general enrollment period to enroll. The general enrollment period usually runs between January 1st and March 31st of each year.

And to add to the decisions, you can choose Medicare or a Medicare Advantage Plan to meet the requirements. It is advisable to talk with a professional about your Medicare choices. Working with a professional company like Adler Insurance in Prescott does not cost you any more than doing it yourself. So if you’re turning 65, come talk to one of our professionals who can give you the information you need to make an informed decision about your Medicare coverage? Just give us a call at 928-710-1455 and let us help you celebrate your 65th birthday!! To learn more about our services, please visit our website at http://adlerlifehealth.com.

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