About Jeff Gentry

Jeff has sold insurance for almost 20 years. He is a native of New York, but enjoys traveling the country and the world, especially to warm weather environments.

Medicare Supplement Insurance Is A Great Help In Paying Expenses

We tend to require more expensive and extensive medical care the older we get. If the cost of your insurance exceeds the limit of the insurance, your life may be at stake because there may be a question as to whether you have enough money for the medical treatment that you require. Fortunately, there is still a way to have all of the expenses covered through Medicare supplement plans, or Medigap plans.

Medicare is a government program that pays roughly 80% of a persons medical care costs. A medicare supplement plan is designed to cover the remainder of the costs. This enables a person to be able to afford any treatment that is available, no matter what the cost. Medicare supplemental plans are only available to people who are age 65 or over, or for disabled persons who are under age 65.

Medigap coverage is relatively inexpensive, because it only covers the difference of what Medicare doesn’t cover. This way, Medicare Supplement coverage is within the range of affordability for most people. It is a comforting thought to know that you will have excellent health insurance coverage no matter where you have to go to the doctor, because you are covered with any doctor, as long as he or she accepts Medicare.

medicare supplemental insuranceYou can apply for a Medicare Supplement plan, with no pre-existing condition exclusions 3 months prior to your 65th birthday and after your birthday as well for an additional 3 months. After that you will have to qualify medically if you are applying for a new plan, or you have a qualifying event, such as you company ceasing to do business in the state in which you live.  Whether you are inside the window or not, getting the best rates depends on getting good medicare supplement quotes.  You can get the best quotes from a local agent or use CompareMedicareSupplements.net to get a set of Medigap quotes that are customized to you.

People should look into a Medicare Supplement plan when they are nearing retirement in order to take advantage of the benefits for which they are entitled.

Who is funeral insurance best suited for?

Death is something that is certain in everyone’s life. With that said, everyone wants to be prepared for the day that that they pass away. Most people are familiar with life insurance and the benefits of having it. Besides life insurance, there are other options available that a person can choose to prepare for their death. Many people choose to get funeral insurance, also known as burial insurance, as it is usually a less expensive option.

When an individual purchases funeral insurance, they are assured that all of their final burial expenses are covered. It is very important to have these expenses covered as a burial can easily exceed $10,000. Nobody wants to leave a financial burden on their loved ones. Family members and friends will already be grieving, and an individual will not want them to have to worry about any money issues. Funeral insurance is a great option for those who do not have many assets or cash savings. When a person reaches a certain age, their life insurance policy can easily become unaffordable. Funeral insurance is not as expensive and is affordable for most individuals.

Those who want to plan their funeral ahead of time may want to consider getting funeral insurance. They can make sure that everything for their funeral is set up exactly the way they want it and will know all the costs involved. If they feel that certain things will be unnecessary, they can deduct certain expenses. Also, if they want an elaborate service, they will know what the extra costs will be. Funeral insurance is also great for those who have health problems. Unlike many life insurance policies, there is usually no health examination required. This means that those with an existing health issue will not be denied the insurance that they need.

Unlike a life insurance policy, funeral insurance does not issue a payment to a person’s beneficiary to be used in any way that they like. Instead, the money can only be used to cover expenses that are associated with an individuals funeral. Basically, a person will be prepaying their funeral expenses before they pass away. By having burial insurance, a person will have peace of mind knowing that they have taken care of the financial responsibility of their funeral. Also, they will know that they are going to have a dignified funeral just the way they planned it.

Life Insurance For Those with Medical Issues

Life insurance can be confusing. That confusion can be compounded when you have medical issues. People who have diabetes, heart issues and high risk factors often think that life insurance companies will not approve them.

One of our readers emailed us recently about a high risk life insurance situation.

I know that life insurance companies require blood tests. I have smoked marijuana a couple of times in the last year. Will this hinder me from getting coverage?

We set out on a search and talked with Jeff Root from Rootfin.com. He deals with impaired and high risk life insurance. What we found is that you can get coverage with many types of impaired risk. Here is what he had to say about marijuana smokers.

“The key in getting the best life insurance rates as a marijuana user is securing non-smoker rates.  If you smoke up to 2 times per week, you can secure non-smoker rates and cut your rates in half”, says Jeff Root.

Consumers also worry companies or insurance agents will report them to the authorities for marijuana use. HIPAA privacy laws prohibit an agent or insurance company from sharing this information with anyone. You can rest assured your privacy and health information will be protected.

The following are the top 5 high risk life insurance types he deals with:

Life insurance for diabetics

Life insurance for marijuana users

Life insurance for smokers

Life insurance with Multiple Sclerosis

Life insurance with Cohn’s Disease

If you have any of the above conditions rest assured that affordable life insurance can usually be found for you. The biggest thing we have learned is that some companies have much cheaper rates than others for impaired risk.

For example, one quote we ran was $100 per month for $500,000 of term life insurance. This was with one company. We then ran a quote with an agency that represented 35 plus companies and found the rates dropped to $64 per month. Whatever your situation, make sure to do your homework and work with a company that offers multiple quotes.

For more questions about your financial or life insurance issues feel free to email mail me! jeff@heartheworld.org.

Is Medicare Advantage Right for You?

Medicare Advantage Open Enrollment is right around the corner. It might be time to consider a switch.

Medicare Advantage
Medicare Advantage Plans are quite different from traditional Medicare plans in a number of ways. Medicare Advantage Plans are operated by private insurance companies and not by Medicare itself. Under the terms of the Medicare Advantage Plans, these plans must include all of the benefits available under Part A and Part B of traditional Medicare. Medicare Advantage Plans usually offer more benefits than traditional Medicare. For instance, those enrolled in a Medicare Advantage Plan will not need to purchase a separate Medigap plan to cover the deductibles and co-pays that traditional Medicare does not cover. Also, those in a Medicare Advantage Plan will usually not find it necessary to purchase Medicare Part D prescription drug coverage as most Advantage policies have prescription drug coverage.Coverage under Medicare Advantage comes in a variety of plans. Seniors may choose an HMO plan, a PPO plan, a fee for service plan or a health savings account.Almost anyone can enroll in a Medicare Advantage Plan during the open enrollment period. Only those with end stage renal disease are prohibited from enrollment.So, now the question is, are these plans right for you? What are the advantages and the disadvantages?The major benefit of a Medicare Advantage Plan is that there are more benefits available for seniors without a great deal of additional cost. These plans also avoid the hassle of having to purchase separate gap coverage and coverage for prescription drugs under Medicare Part D.However, there are some disadvantages to keep in mind. If you choose a HMO or PPO plan, you will be limited in the doctors that you can choose to provide your care. You will only be able to see in-network providers unless you are willing to pay a substantial amount of out of pocket expenses. Some of these plans also require a referral from a primary care provider to visit a specialist. This is not the case with traditional Medicare. In traditional Medicare, you may see a specialist when you choose. You are not limited to seeing doctors within a network.