insurance advisors

I’m young and healthy, why do I need insurance?

Written by Licensed Health Advisor, Lindsey M. Tieken 

Congratulations! Age and health history are the first major hurdles people have to face when purchasing insurance. Being young and healthy will do nothing but improve your chances of spending as little as possible for health and life insurance, and there will never be more options for you than there are right now!

ACA Compliant Plans offer coverage for everyday things that you may not expect. Need a physical for school or work? Free! Need your annual pap smear? Free! Need a preventive mammogram or colonoscopy? Free! Having these tests regularly are a HUGE component to maintaining your health and discovering potentially life threatening illnesses early enough to be treated. The cervical cancer death rate  alone declined by more than 50% over the last 30 years, and this has been attributed to access to regular screenings. Another important component of these plans is that they are required to cover mental health needs. Access to a variety of therapy options is an increasingly valuable benefit considering 56% of American adults are living with an untreated mental illness.

Hopefully, annual exams are the only thing for which you will ever need your insurance. Unfortunately, that is usually not the case. Over 62% of Americans between the ages of 18 and 44 had medical expenses over $100 in 2013. A simple broken leg can cost up to $7,500, and a complicated illness can cost hundreds of thousands of dollars. 48.3 million Americans had problems paying their medical bills in the first six months of 2016 alone. In addition, most insurance programs will not accept new participants if you become sick. If you are diagnosed with an illness while you have no coverage it will certainly limit your healthcare options- potentially making you fully responsible for the medical expenses or lack of medical support you may encounter.

Having health insurance is the most responsible decision for your financial future. A 2015 poll done by NPR, Robert Wood Johnson Foundation, and the Harvard T.H. Chan School of Public Health found that 50% of respondents had their credit adversely affected by medical bills. This was through credit cards, loans, and even collections that lead to complete bankruptcy. It is common knowledge that having credit issues can and will limit your options on making major purchases- such as homes and cars.

The time is now to invest in your health and your financial future; don’t allow yourself to spend another day unprotected. Your wallet and your family will thank you.

 

If you’re ready to find a plan, give us a call at 888.788.1565 or submit a request for a quote online.

 

Medicare Enrollment: 3 Things You Need to Know

Medicare Enrollment and Social Security Navigating the Medicare program can be confusing. If you’re like most people, reading the fine print is not how you’d like to spend your time. Medicare is the federal health insurance program available to individuals 65 and older and covers more than 40 million Americans. Medicare is also available for younger individuals with disabilities recognized by the Social Security Administration and for individuals with certain types of kidney failure, namely End-Stage Renal Disease (ESRD). Although Medicare covers millions of Americans—the majority of eligible individuals have additional plans to help improve their health coverage under Medicare.

Working with an agent from Crosspointe will make the process easy and ensure you get the additional coverage you or your Medicare-qualified loved one needs.

Understanding Medicare

There are two main parts of Medicare: the first (Medicare Part A) covers inpatient hospital stays and the second (Medicare Part B) covers a host of medical services outside of the hospital.

Some examples of covered services would be:

  • Part A: inpatient hospital visits, hospice care, Skilled Nursing Care, and some home health care benefits
  • Part B: outpatient care, some medical equipment and preventive services, primary doctor visits and specialist outpatient services etc.

In addition to Medicare, there are two types of plans to help improve your Medicare benefits.

Option 1: Traditional Medicare Supplement

With this option, Medicare will remain your primary coverage and you will have an additional plan option to help pay for your deductibles and co-insurance not covered by Medicare. Some of the more popular Medicare supplement plans are: Plan F, Plan G and Plan N. If you’re 65 years old, these supplement plans can start out around $80 to $100 monthly depending upon the plan and state where you live.

At Crosspointe Insurance, we have access to the most reputable and competitive insurance carriers that offer Medicare supplement plans in Indiana, Kentucky, Ohio, Illinois, Missouri, Michigan, and Tennessee. If you’re interested in a quote for a Medicare Supplement complete our online request form and you’ll be connected with one of our experts.

Option 2: Medicare Advantage (Part C)

Medicare Advantage Plans (Part C) are plans provided through private organizations approved by Medicare. With this type of coverage, the private insurance company becomes the primary insurance provider. Medicare passes the responsibility to manage your health care needs to the insurance company. This means that an Advantage Plan can be crafted to meet your needs and provide coverage with the government helping to reduce the premium costs. Medicare Advantage plans typically cost less per month that a traditional supplement, but you have co-pays and cost sharing when you use your plan.

It is important to note that if you’re already covered by Medicare you can review and enroll in Medicare Advantage plans each year during the Annual Enrollment Period (November 15th through December 7th). Connect with us to review your plan options during this year’s enrollment period.

Now that you know about some options to consider regarding, Medicare, what are the key things to know?

3 Key Things to Know about Medicare

  1. Let Us Help Determine Your Needs. Each Medicare option, parts A, B, and C, contains different solutions. Combining the Medicare plans with the right additional coverage will allow you to ensure you aren’t missing out on coverage you need. We can help you determine which plan elements you need and find providers that meet your health and budget requirements, contact us to get help!
  2. Enroll Sooner Than Later. Most people join Medicare at age 65. If you’re approaching age 65 or retirement, let us help you start the enrollment process. Even if you’re already covered by Medicare and enrolled in another plan option – it never hurts to review. We suggest reviewing your coverage every year.
  3. Understand Your Coverage. Are there any deductibles for your coverage? When it comes to medication, how much will you have to pay? Can you see a specialist? What is the most you could pay out-of-pocket for a major medical condition or treatment? Every situation is different but after speaking with one of our experts, you’ll be able to answer each one of these questions with confidence.

How much does it cost to work with an agent at Crosspointe Insurance? $0.

Yes, that’s right! You can pursue a plan on your own or allow us to make the process easier, and have the experience of a team of insurance experts on your side with no additional cost.

Give us a call at 888.788.1565 today or submit a request for a quote online.

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