Adler Insurance discusses comprehensive health insurance coverage in Prescott

Comprehensive medical insurance describes health insurance that provides coverage for most types of medical expenses. If you are not eligible for Medicare, you may be fortunate enough to be offered health care insurance through your employer. If not, you have a few choices to make and in order to make a better decision, Adler Insurance, your health insurance specialists in Prescott, would like to explain some of your options.

Costs: With comprehensive health care insurance, you’ll be required to pay premiums, deductibles and co-pays. You pay monthly premiums and, in addition, many policies have deductibles which must be met before the policy provides benefits. Finally, whenever you receive health care services, you may need  be required to pay varying amounts, called "co-pays," for services you receive.

Classifications: There are two general classes of comprehensive medical coverage: "Group" and "Individual." You may have a group plan sponsored by your employer, union or professional organization. Group plans typically provide the most benefits at the lowest price. Insurance companies also sell individual plans directly to the public. Individually purchased health insurance usually is more expensive and provides fewer benefits.

Types: The type of coverage you choose is extremely important:

• FFS - Fee-for-service plans provide the most options, allowing you to use any provider you choose. However, purchasing these plans on the open market can be expensive.
• HMO - Health maintenance organizations both insure and deliver health care. HMOs are the least expensive but most restrictive plans. You must live in an HMO's service area to join. In addition, all of your healthcare must approved through a single primary care physician. All referrals to specialists must be through the primary care physician as well.
• PPO - Preferred provider organizations are more expensive than HMOs but less restrictive, meaning referrals are generally not required.
• POS - Point-of-service plans combine an HMO with a PPO and let their members decide which benefits to use. Cost and restrictions tend to average out between the HMO and the PPO models.

Choosing the right comprehensive health insurance coverage is a decision that can be difficult to make without the help of a professional who understands the various coverages offered. If you need to purchase comprehensive health insurance in Prescott and don’t know where to start, give the experts at Adler Insurance a call at 928-710-1455. To learn more about life insurance or Medicare options, please visit our website at http://www.adlerlifehealth.com.

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Prescott Health Care Insurance Agents
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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.

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Life Insurance in Prescott
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Adler Insurance wants to help you understand Medicare terminology in Prescott

Deciding what Medicare coverages are right for you is no simple matter, and Medicare terms can be confusing. To help you make an educated decision about what option is best, Adler Insurance shares a guide to Medicare terms that may help you prepare for enrollment in Prescott.

Open Enrollment: The annual enrollment period runs from October 15 to December 7. This is when changes may be made to your Medicare coverage if you are already enrolled. Since plan benefits may change from year to year, this is the time to review your health plan to see if your current plan still meets your needs. Changes made during open enrollment are effective on January 1 of the following year.

Original Medicare: Parts A and B are considered original Medicare and are offered by the US Government. Each part covers a different aspect of healthcare services. Part A covers inpatient care at a hospital, skilled nursing facility and in some situations it could also cover care at home. Part B covers such things as visits to your doctor, outpatient physical therapy, and occupational therapy. Between Part A and Part B, approximately 80 percent of healthcare costs are covered.

Medicare Advantage: Medicare Part C is also referred to as Medicare Advantage, and is Medicare-approved private insurance that you can purchase. Medicare pays these insurance companies to cover your Part A and B coverages. Also known as MA Plans, they are designed to save you out-of-pocket costs, and offer additional benefits such as dental care, eyeglasses and wellness programs.

Prescription Coverage: Medicare Part D is prescription drug coverage. This can be stand-alone, or a coverage that is sometimes included in a Medicare Advantage Plan. When choosing a prescription drug plan, be sure to review the formulary (list of covered drugs) to make sure any medications you take are covered in the plan.

Medigap: Medigap is private insurance coverage that supplements original Medicare and fills in the “gap” between what you are charged and what Medicare pays. The premiums are typically higher, but it reduces out-of-pocket costs for co-pays, deductibles and coinsurance.

Parts F, G, K, L, M and N are additional Medicare supplement plans that lower your out-of-pocket costs by varying degrees.

Hopefully this guide has given you some insight on what to look for when choosing or reviewing your Medicare plan. Adler Insurance, your Medicare expert in Prescott, can help you select the plan that will save you money and best fit your medical care needs. Call us today at 928-710-1455 and learn more about other types of insurance services we offer at http://www.adlerlifehealth.com.

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Medicare Supplements in Prescott
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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.

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Medicare Agent in Prescott
Prescott Medicare Insurance
Helpful Articles about Medicare

Adler Insurance suggests adding Medicare to your to do list when moving to Prescott

Did you recently move to Prescott from another state? Even though you have to do lists a mile long, make sure that Medicare is on that list. Adler Insurance has put together this article to help you navigate through the Medicare requirements when moving to Prescott.

What type of coverage do you have?

The first thing to address is figuring out what type of Medicare coverage you have. If you reside in the United States or its territories, you can keep your original Medicare coverage (Part A and B). It is important to notify your new local health care provider about the move and they/we can help you with that transferring of records.

Do you Qualify for SEP?

If you have the Medicare supplement policy and/or Part D Prescription Drug Plan, you will want to keep a lookout for a Special Election Period, also known at SEP. Moving to another state will qualify you for the SEP. You need to notify the plan prior to moving and your SEP is four months long. If you wait until after moving to notify the plan, you have two months plus the month you notified. Just know, if you do not enroll in a new Medicare Prescription Drug Plan during your SEP, you may find yourself without drug coverage.

There are other parts of Medicare that need to be addressed, as well. Medicare Advantage plan, stand alone Medicare Part D, Medigap and even Social Security are all subject to change when you move. Just know that each and every part needs to be examined to make sure that you transfer and/or enroll properly in Arizona, so not to lose coverage or pay unnecessary penalties.

Let Adler Insurance help you with sorting out Medicare when, and even before moving to Prescott. We will make sure that you are ready for SEP, if needed, and properly enrolled with all other pieces of Medicare. The main thing is to be prepared and educated. If you need more information on making a move to Prescott with your Medicare plan, call Adler Insurance at 928-710-1455 and discover more at http://www.adlerlifehealth.com.

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Medicare Agent in Prescott
Prescott Medicare Insurance
Helpful Articles about Medicare

Adler Insurance answers whether Medicare will pay for long-term care in Prescott

Adler Insurance is a resource to help you understand Medicare and we are here to answer the question, “Will Medicare pay for long-term care in Prescott?” This is a complicated question, and it pays for you to understand prior to being faced with having to make these decisions. The biggest mistake people make is to assume Medicare will take over the financial burden of long-term care in full. While Medicare’s role is limited and sometimes confusing, you can start by understanding some concepts of long-term care.

What is long-term care?

There are two types of long-term care: custodial care and skilled care. Custodial care can be simply defined as care given to people who need help with basic, everyday living, such as getting dressed, cooking meals, bathing, and other basic day-to-day tasks. Skilled care requires medical training and licenses. When it comes to Medicare’s financial involvement, the main question is whether medical/skilled care is required. Medicare does not cover custodial care, but they will help with skilled care.

Over time, long-term care will become more complicated as the need of care changes. The main thing to remember is that Medicare will take part of the financial burden only if the care is prescribed by a doctor and is considered medical care. When a patient requires a nursing home or skilled nursing facility, a general rule of thumb is that Medicare will help for a limited time if 1) the care is recovery and 2) after a hospital stay for at least three days. Medicare will pay anywhere from 80-100% over the course of 100 days. After that, there are supplemental insurance solutions to be considered.

Medicare is certainly limited when it comes to long-term care, but there are other options to be aware of. The main thing is to be prepared and educated prior to the need. The key is to know what parts of long-term care in Prescott that Medicare will pay for, and Adler Insurance can help you navigate these questions. If you and your family are facing these questions now or in the near future, call Adler Insurance at 928-710-1455 and discover more at http://www.adlerlifehealth.com.

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Medicare Solutions in Prescott
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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.

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Life Insurance in Prescott
Prescott Medicare Options
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