Medicare generally pays 80% of healthcare expenses, this leaves you to pay the portion Medicare does not pay. Medicare supplemental insurance, commonly called Medigap insurance is a way to cover what medicare does not pay. Medigap policies come in 10 standardized versions, A-D, G, High Ded. G and K-, with each version offering different degrees of benefits. While the plan benefits are standardized among insurers, prices are not, so shop around carefully.

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Medicare Advantage plans are a type of Medicare health plan offered by a private company that contracts with Medicare to provide all of your Part A and Part B benefits. Most Medicare Advantage Plans also offer prescription drug coverage. If you're enrolled in a Medicare Advantage Plan, most Medicare services are covered through the plan. Your Medicare services aren't paid for by Original Medicare. Below are the most common types of Medicare Advantage Plans.

  • Health Maintenance Organization (HMO) Plans

  • Preferred Provider Organization (PPO) Plans

  • Private Fee-for-Service (PFFS) Plans

  • Special Needs Plans (SNPs)

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Are you losing coverage? Are you months away from receiving Medicare benefits but without coverage? We can guide you through the options of private health insurance and the ‘Affordable Care Act’. ACA enrollment, short term health plans, cancer plans, hospital plans.

Hospital Confinement Indemnity Insurance is designed to help fill some of the co-payments, deductibles and out-of-pocket expenses of your health insurance plan. Cash benefits are paid directly to you to help cover the costs associated with hospital confinement, ambulance trips, skilled nursing stays and more.

Dental hygiene is essential to overall good health habits. Original Medicare does not cover dental benefits. If you lost dental benefits from your employer plan or need more comprehensive services, we can help. Thrive has plans for all your dental needs with options that pay for simple cleanings and x-rays to first day coverage for major services like crowns, bridges and dentures.

With the diagnosis of cancer or heart disease comes the reality of medical bills, time off for treatments, monies for living expenses, and for some, the cost of high deductibles. Cancer, Heart Attack & Stroke insurance helps provide the resources you need so you can focus on your treatment, not your finances.

Critical Illness insurance, also referred to as Critical Care insurance or Critical Illness coverage, provides a lump-sum cash benefit to help cover expenses associated with a qualifying serious illness.

Final expense insurance provides financial support for mortgage, rent, auto loans, unpaid credit cards, hospital and doctor bills, funeral expenses and cemetery costs as well as any other financial expenses left behind.

Term life insurance is the simplest way to protect loved ones now — and lock in your lowest available rates for a set period of time. As long as you keep your policy active for a set “term” (like 10, 15, or 20 years), it can replace your lost income, tax-free, in the event of your death. Plus, you can add more coverage or upgrade to a permanent policy later.

A universal life insurance option provides more flexibility than whole life insurance. Policyholders have the flexibility to adjust their premiums and death benefits. Universal life insurance premiums consist of two components: the cost of insurance (COI) amount, and a saving component, known as the cash value.

  • The cost of universal life insurance is the minimum amount of a premium payment required to keep the policy active.

  • A universal life insurance policy can accumulate cash value, which earns interest based on the current market or minimum interest rate.

  • Policyholders may borrow against the accumulated cash value without tax implications.

Indexed Universal Life Insurance provides death benefit protection and the opportunity to build money inside your policy, called cash value, based in part on the increase of market indexes. Even if these indexes dip, you're still safe with a guaranteed minimum  interest rate.

  • Indexed Universal Life policies provide greater upside potential, flexibility, and tax-free gains.

  • Drawbacks include that there are caps on returns and no guarantees as to the premium amounts or market returns.

  • In general, these policies are best for those with a large upfront investment who are seeking options for a tax-free retirement.

The insurance and financial industry have created many more tools to help retirees and families create peace of mind in the event of a long term care stay. These new plans offer all of the benefits to offset the financial and emotional burden of care.

Whole life insurance is a permanent policy, which gives you guaranteed protection for your loved ones that lasts a lifetime. With whole life insurance, unlike term, you earn guaranteed cash value, which you can use however you want. Participating whole life insurance is eligible to earn dividends, which can increase the death benefit and the cash value. Or there are other options you could choose, such as using dividends to help pay premiums.

The typical Short-Term Care insurance (STCi) policy provides coverage for 1 year or less. For many people, this is a very appropriate and affordable amount of coverage. It is true that some long-term care claims last for many years, however, almost half (49%) of long-term care insurance claims LAST ONE YEAR OR LESS.

The majority of policies have a 0-day deductible (Elimination Period) and a full year of benefits. Simply, that means the policy pays on the very first day one qualifies for benefits. Most traditional long-term care insurance policies (about 94%) are sold with a 90-Day Deductible that must be met before benefits are paid.

Thanks to advances in medicine, retirees are living longer, more independent lives. With family dynamics changing, the burden of care impacts families emotionally and financially. As a result, someone turning age 65 today has almost a 70% chance of needing some type of long-term care. Although many people assume Medicare will cover this expense, it often doesn’t. That’s why a growing number of retirees are turning to long-term care insurance to protect their futures. Coverage for nursing home care, home health care or both helps you maintain control of where you will receive care, and it helps protect your life’s savings from the high cost of assisted care services.

The insurance and financial industry have created many more tools to help retirees and families create peace of mind in the event of a long term care stay. These new plans offer all of the benefits to offset the financial and emotional burden of care.

These new plans are built on the frame of life insurance to ensure a guarantee payout to heirs or spouse in the event care is not needed. It eliminates the ‘use it or lose it’ scenario. A plan can be initiated by a monthly commitment or a single premium deposit.

You can forever insulate your retirement assets from the LTC risk by utilizing certain riders associated with these new innovative instruments.

An annuity is a financial product that pays out a fixed stream of payments to an individual. These financial products are primarily used as an income stream for retirees. Annuities are created and sold by insurance companies, which accept funds for safe growth and/or income purposes. Upon annuitization, the holding company will issue a stream of payments at a later point in time.

The period of time when an annuity is being funded and before payouts begin is referred to as the accumulation phase. Once payments commence, the contract is in the annuitization phase.

  • Annuities are financial products that offer a guaranteed income stream or safe accumulation used primarily by retirees.

  • Annuities exist first in an accumulation phase, whereby the client funds the product with either a lump-sum or periodic payments.

  • Funds can be qualified or non-qualified.

  • Types of money include IRA, roth IRA, 401K, 403b, savings, inheritance, money market, sold property or land, as examples.

  • Annuities avoid probate

An equity-indexed annuity is a type of fixed annuity that is distinguished by the interest yield return being partially based on an equities index, typically the S&P 500.

The general appeal of equity-indexed annuities is to moderately conservative investors who like having some opportunity to earn a higher investment return than what's available from traditional fixed-rate annuities, while still having some protection against downside risk.

  • An equity-indexed annuity is a fixed annuity where the rate of interest is linked to the returns of a stock index, such as the S&P 500.

  • Equity-indexed annuities may appeal to moderately conservative investors.

  • Equity-indexed annuities have many rider features that allow for income, death benefit and long term care enhancements if selected.

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