Adler Insurance, your Medicare expert in Prescott, shares tips for those who are new to Medicare

Are you looking for Original Medicare, a Medicare Advantage Plan, or Medicare Supplement Insurance? Do you know when you can enroll or change between plans? For years, Prescott residents have trusted Adler Insurance to answer their questions. If you're ready for Medicare here's a brief overview to to help explain what to expect.

If you are ready to enroll in Medicare - whether it's because of age or disability - there are certain times of the year ,with exceptions, you can choose to enroll in the Medicare coverage you want.

There are two primary ways to get Medicare coverage. One is known as Original Medicare (Part A and Part B). The other is a Medicare Advantage Plan (Part C). Depending on your needs or desired coverage, some people will want to get additional coverage like Medicare prescription drug coverage. One thing that many people may not understand is that a Medicare Advantage Plan is private insurance. It is not government insurance. Medicare (also known as Original Medicare) is a federal health insurance program. They are two very different types of insurance with different coverages, costs, deductibles and exclusions among other things. Medigap is Medicare Supplement Insurance. The following steps are a guideline to help you decide what coverage you want:.

When you first consider enrolling in Medicare here are some decisions you'll want to be prepared to make:

• Do you want Original Medicare (Part A and Part B) or a Medicare Advantage Plan (Part C) (like an HMO or PPO)?
• Do you want prescription drug coverage (Part D)?
• Do you want supplemental coverage (Medigap)?
• Do you know about other options?

Even if you have Original Medicare you may be able to get other types of Medicare health plans.

Depending on your income and resources you may be able to get help paying costs or have other choices available to you. You may also have additional co-coverage through an employer, a union, the military, or from veterans' benefits.

If you're eligible for Medicare and need help determining which plan is best for you or how Medicare works with other insurance, then don't wait to call Prescott's local Medicare insurance experts at Adler Insurance. Call us at 928-710-1455 or  visit us at http://www.adlerlifehealth.com for more information.

ADDITIONAL INFORMATION
Medicare Insurance in Prescott
Prescott Medicare Open Enrollment
Helpful Medicare Articles

Adler Insurance strives to help Prescott residents determine if you have enough life insurance

It is never exact, but there are ways to make sure your loved ones are financially able to cope if something should happen to you, especially unexpectedly. Adler Insurance wants to help Prescott residents determine if you are adequately covered with the right amount of life insurance.

Again, this will not be an exact amount, but a good place to start is by calculating your long-term financial obligations and then subtracting assets. The number that you come up with is the “gap” that you will want your life insurance to fill. There are several formulas you can use to help you arrive at the right numbers. Here are a few:

The outdated rule
One rule, that many believe to be outdated, is the “income multiplied by 10 rule”. This does not take into account inflation, interest and one very important factor: the stay-at-home spouse/parent. Both parents should have a policy, even if one does not work. Should something happen to the stay-at-home parent, there will be hidden income costs that the “income multiplied by 10” will not cover. If you are going to use this calculation method, be sure to keep these things in mind.

Ten times your income, plus $100,000 per child for education
Thinking about education is important when coming up with the right amount to purchase. This is a good start, but do not forget to really study the “income multiplied by 10” to make sure you are taking into account everything.

DIME
This formula is probably a better way to go than the two previously mentioned. Why? DIME considers the following: debt, income, mortgage and education. All need to be considered when coming up with the right amount of life insurance.

• Debt: Make sure this is debt other than the mortgage. And don’t forget to add estimated funeral expenses.

• Income: How many years will you need this income? Perhaps sitting down with a professional will help you arrive at that figure.

• Mortgage: What is the amount needed to pay off the mortgage?

• Education: There are formulas you can use to determine the costs associated with education.

Once you determine which formula to use, you will then want to subtract your assets from that number.

Planning for the future is very important. It is also important to make sure you do not miscalculate when seeing to it that your loved ones will be taken care of. This planning should not be done in isolation. Let the experts at Adler Insurance, your life insurance experts in Prescott, look at your current life insurance policy(s) to make sure you are adequately covered. Call us today at 928-710-1455 and learn more about other types of insurance services we offer at http://www.adlerlifehealth.com.

ADDITIONAL INFORMATION
Life Insurance in Prescott
Prescott Life Insurance Policies
Helpful Insurance Articles

Adler Insurance helps you to decide the right Medicare supplement in Prescott

Although the federal Medicare program pays the lion’s share of medical expenses for those that use it, it still pays to look into the supplement policies as they help to pay for certain expenses not covered by Medicare. Adler Insurance helps you to navigate the Medicare supplements in Prescott and decide what is right for you.
When can I apply for a supplement policy?

Generally speaking, when you elect coverage from Medicare Part B, you have 6 months of open enrollment time for a supplement policy. This is the same whether you have Medicare due to age or disability. If you do not enroll in a supplement policy within the open enrollment window, you can be denied due to health conditions. Again, this is generally speaking. There are some exceptions, but you are safe to assume that 6-month window.

Does the supplement policy cover prescription drugs?
If you are looking for prescription drug coverage, it may be best to go with the Medicare prescription drug plan, as supplements may not include drug plans.

MedicareAdvantage Plans
MedicareAdvantage plans are privately sold insurance plans for a monthly fee that provide the standard Medicare benefits plus additional supplements. This is formerly known as Medicare+Choice plans.

Medicare Select Plans
Medicare Select plans are very similar to PPO plans. If you stay in network, the plan will be a lower cost.

Medigap policyA Medigap policy is basically just how it sounds. It pays the gaps that Medicare does not cover. It is sold by private insurance companies.

Am I qualified for a Medigap policy?
Not everyone qualifies for Medigap. Some reasons that may keep you from qualifying are: being enrolled in a Medicare Advantage plan, having Medicaid, being under the age of 65 and disabled or having end stage Renal disease. Also, generally speaking, you must have both Medicare part A and part B.

Let Adler Insurance help you with sorting out Medicare supplements in Prescott. We will see to it that you pick the right supplement plan for your specific needs. This article is not exhaustive, so it’s in your best interest to sit down and become fully educated on the supplement policies. If you need more information on how to choose your Medicare plan, call Adler Insurance at 928-710-1455 and discover more at http://www.adlerlifehealth.com.

ADDITIONAL INFORMATION
Medicare Agent in Prescott
Prescott Medicare Insurance
Helpful Articles about Medicare

Adler Insurance Helps Prescott Residents Compare Whole Life and Term Life Insurance

The insurance experts at Adler Insurance understand that life insurance can be confusing. In order to make important decisions about life insurance in Prescott, it’s important to understand what is whole life and term life policies. Life insurance can be a very flexible and powerful financial tool that can meet multiple financial objectives, from providing financial security to building financial assets and leaving a legacy for the future. Deciding whether to purchase whole life or term life insurance is a personal decision that should be based on the financial needs of your beneficiaries, as well as your personal financial goals. Let’s look at some of the main features of term life and whole life.

Term Life Insurance

• Provides death benefits only
• Pays benefits only if you die while the term of the policy is in effect
• Easiest and most affordable life insurance to buy
• Purchased for a specific time period, such as 5, 10, 15, or 30 years, known as a “term”
• Becomes more expensive as you age, especially after age 50
• The term must be renewed if you want coverage to be extended beyond the term length
• Can be converted to whole life insurance

Whole Life Insurance

• Covers you for life
• Provides death benefits
• Cash value accumulation that builds during the life of the policy
• You typically must qualify with a health examination
• May be purchased without a medical exam, but at a higher cost
• Takes 12 to 15 years to build up a decent cash value
• Can be a good choice for estate planning
• Cash value is based on how much the return on investment is worth
• A portion of the cash value can be withdrawn or borrowed during the life of the policy
• Initially has more expensive premiums than term life insurance, but can potentially save you money over the life of the policy if in force for a considerable number of years

There are other factors that will help you determine the type of life insurance policy that is right for you, such as:

• Your current age
• Your health
• Financial needs of your family and the age of your children
• Plans for funeral and death expenses
• Your current financial situation such as mortgage and debts
• Your feelings on potentially paying into a term policy and never receiving any of that value back

With all these things to think about, most people depend on an experienced insurance broker to help them find the right policy for their needs. For Prescott residents, help is as close as Adler Insurance. Call us today at 928-710-1455, or to learn more about the health and life products we can offer, please visit our website at http://www.adlerlifehealth.com.

ADDITIONAL INFORMATION
Life Insurance in Prescott
Prescott Medicare Options
More Insurance Articles

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.

ADDITIONAL INFORMATION
Prescott Medicare Solutions
Medicare Advantage Plan for Prescott Seniors
More Medicare Articles

 

Adler Insurance Suggest Questions to Ask to Find The Right Insurance Agent

When it comes to getting insurance, it seems like everyone knows someone! But not all insurance agents are alike and it is important that you take the time to find one who will keep your best interest in mind when making decisions about life and/or Medicare insurance. Adler Insurance in Prescott, would like to give you a few questions to consider to help you find the right agent.

Are they state licensed?  Many people don’t realize that insurance brokers must be licensed in the state they are issuing the policy. So, if you’ve moved into the Prescott area from another state, your insurance agent from your prior home may not be able to write insurance in Arizona.

Is the agent full time?  Insurance is one of those businesses that many people take on as a “second” or “side” profession. At Adler Insurance, we specialize in man insurance policies like life and Medicare insurance and it is our full time job so we are available when you need us.

Does the agent represent more than one carrier? Whether you are looking for short-term insurance, long-term care insurance, individual or family insurance, with Adler Insurance you can be sure you're getting the right coverage at the right price because we represent a wide range of carriers and can match your needs to the right company.

Is the agent professional?  Do they have a website where you can see the services they offer? Does their website have their hours and are they regular hours? Is their contact information easy to find? Does the website detail the type of coverage they offer? At Adler Insurance we go far beyond being just another Arizona Insurance Provider. We strive to build relationships with our clients to ensure we understand your needs.

Adler Insurance is your local Prescott area insurance provider of choice for Medicare Insurance, Life Insurance, and more. Make Adler Insurance your “right choice” by contacting them at 928-710-1455 or by visiting the website at http://www.adlerlifehealth.com.

ADDITIONAL INFORMATION
Prescott Insurance Agent
Medicare Insurance in Prescott
More Insurance Articles