FAQs
Got Questions? We Have Answers!
Navigating health insurance can be confusing, but we’re here to help. Our FAQ section is designed to provide clear, straightforward answers to all your questions. Whether you're curious about coverage options, claims, or how our plans work, you’ll find the information you need to make informed decisions about your health and well-being. If you don’t find what you're looking for, our team is just a call or click away!
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Medicare Assistance
When should I enroll in Medicare?
Most people enroll in Medicare during their initial enrollment period, which begins three months before the month they turn 65 and ends three months after. If you are still working and covered my employer insurance, this will change when your part B and other Medicare products can start. Also, if you have been disabled for the past two years, you are now eligible to receive Medicare. Enrolling at the right time helps you avoid penalties and gaps in coverage, so it is important to review your situation early.
What happens if I miss my Medicare enrollment window?
Missing your enrollment period can result in late enrollment penalties, especially for Part B and Part D. You may have to wait until the next open enrollment to sign up which could result in a lapse of coverage. Planning ahead helps avoid unnecessary costs and stress.
What is the difference between Medicare Supplement and Medicare Advantage?
Medicare Supplement (also called Medigap) works alongside Original Medicare and helps cover costs life deductibles and coinsurance. Medicare Advantage replaces bundles the services and typically includes additional benefits such as prescription coverage, dental, or vision. The right choice depends on your healthcare needs and budget.
Does it cost anything to work with a Medicare broker?
No. There is no additional cost to work with a licensed Medicare broker. Plan premiums are the same whether you enroll directly with a carrier or through a broker. A broker helps you compare options, understand differences, and avoid common mistakes - at no extra charge.
Health Insurance
What are my options if I lose employer coverage?
Losing employer coverage typically qualifies you for a Special Enrollment Period, allowing you to enroll in a Marketplace plan or private coverage outside of Open Enrollment. COBRA may also be available, but it can be more expensive. Reviewing your options quickly ensures you avoid gaps in coverage.
When can I change my coverage?
Individual coverage through the Marketplace can typically be changed during Open Enrollment or if you qualify for a Special Enrollment Period. Life events such as job loss, marriage, divorce, or the birth of a child can qualify you for special enrollment. Group coverage usually happens during your employer's open enrollment period.
What is the difference between a deductible and out-of-pocket maximum?
A deductible is the amount you pay for covered services before your insurance begins sharing costs. The out-of-pocket maximum is the most you'll pay in a year for covered services. Once you reach your out-of-pocket maximum, your plan pays 100% of covered expenses for the rest of the year.
What is the difference between a copay and co-insurance?
A copay is a fixed amount you pay for a service, such as $30 for a doctor visit. Co-insurance is a percentage of the cost you share after meeting your deductible, such as paying 20% of a hospital bill. Both are ways you share costs with your insurance plan.
Does it cost more to use a broker?
No. Using a broker does not increase your premium. Compensation is built into the plan regardless of whether you enroll directly or through a broker. Working with a broker provides guidance and comparison without additional cost.
Dental/Vision Plans
What does dental usually cover?
Dental plans typically cover preventative care such as cleanings, exams, and x-rays. Services like fillings may be considered basic, but may be considered major depending on the plan. Other major services include crown and root canals and may have higher cost-sharing. Coverage varies by plan.
Is there a waiting period for dental and vision plans?
Preventative services are frequently covered immediately. Many dental plans may include a waiting period for major services. Reviewing plan details helps set expectations before enrolling.
Is vision insurance worth it?
Vision insurance can be helpful if you expect regular eye exams, glasses or contact lenses. for people who do not require corrective lenses, paying out-of-pocket may make more sense. It depends on your anticipated needs.
Can I add dental and vision to my existing coverage?
In many cases, dental and vision plans can be added separately from your medical plan. Availability depends on timing and eligibility, but standalone plans are commonly available.
Life Insurance
How much life insurance do I really need?
The right amount depends on your income, debts, future obligations, and family goals. A personalized review helps determine what fits your situation.
What's the difference between term and whole life insurance?
Term life insurance provides coverage for a specific period, such as 10, 20, or 30 years. Whole life insurance provides lifetime coverage and builds cash value over time.
Is life insurance expensive?
Many people are surprised at how affordable term life insurance can be, especially for health individuals. Costs vary based on age, health, and coverage amount. Exploring options provides clarity before making assumptions.
Can I get coverage if I have health conditions?
Yes, in many cases. Some policies may require medical underwriting, while other offer simplified approval options. Health history affect pricing, but coverage is often are still available.
What if I want to access my money for an emergency?
Certain types of permanent life insurance builds a cash value that can be accessed through loans or withdrawals. Choosing the right policy depends on a variety of factors.
How often should I review my policy?
Reviewing your policy every 1-2 years or after major life events is recommended. Changes in income, family size, or financial goals may require adjustments. We specialize in reviewing a multitude of companies and policies to fit each individual situation.
Annuities
What is an annuity and how does it work?
An annuity is a contract with an insurance company designed to provide guaranteed income or growth. You deposit funds, and the annuity either grows over time or provides scheduled payments, often during retirement.
Are annuities safe?
Annuities are issued by insurance companies and are backed by their financial strength. They are not FDIC insured but are regulated at the state level. Choosing a financially strong carrier is important.
I heard that some annuities have a lot of fees and others don't, why is that?
Different annuities are structured differently. Building the right annuity for each individual can come with fees in the form of management fees or rider fees. Understanding the structure helps avoid surprises.
When does an annuity make sense?
Annuities can make sense for individuals seeking predictable income, principal protection, or tax-deferred growth. They are often used as part of a retirement income strategy.
Can I access my money if I need it?
Most annuities allow limited withdrawals each year without penalty. However, withdrawing large amounts early may trigger surrender charges. Flexibility varies by product.
How are annuities different from investments?
Investments such as stocks and mutual funds fluctuate with market performance. Fixed annuities offer guarantees back by an insurance company. The choice depends on your risk tolerance and income goals.
Funeral Trusts
What is a funeral trust?
A funeral trust is a financial arrangement that sets aside funds specifically for final expenses. It allows individuals to pre-plan and fund services in advance, reducing financial and decision-making stress for loved ones.
Can funeral arrangements be changed later?
Arrangements can be updated if preferences change. Flexibility depends on the specific agreement, so reviewing terms beforehand is important.
Why should I plan ahead instead of leaving funds in savings?
Savings accounts can be used for any purpose and may not reflect your specific wishes. Planning ahead reduces guesswork, ensures funds are set aside for intended use, and eases the burden on family members during an emotional time.
What if I have already paid money to a funeral home for services?
A funeral trust can work in tandem with services already paid for with a funeral home. Trusts are unique in that they can be used for funeral related costs outside of the funeral home. Some examples include flowers, food, limousine or car services, flights and hotels for loved ones.
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We're committed to providing reliable health insurance that ensures peace of mind for you and your loved ones. With a focus on comprehensive coverage and exceptional customer support, we're here to protect what matters most.
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