01
Dec

Understanding Medigap Plans G and N

Written by Insurance Magazine. Posted in Health and life insurance, Health benefit plans

life insurance costChoosing a health plan that not only includes all the essential health benefits and affordable life insurance costs can be tricky, but it’s one of the most important decisions you can make. In fact, roughly 86% of people agree that most people would require some amount of insurance coverage, most likely regardless of life insurance costs. And one of the most well-known avenues to that is Medigap. Medigap, also known as Medicare supplemental insurance, refers to various health insurance policy options available in the United States.

You’ve already read about the popular Medigap Supplement option: Plan F. Now it’s time to dive a little deeper into two different options. If you’re looking for a comprehensive Medigap plan, consider plans G or N. Here’s what you need to know about these two types of health insurance policies. Keep in mind, however, both Plans G and N offer all the same benefits of Plan F, but with a few exceptions.

Medicare Supplement Plan G
Fairly similar to Plan F, with the exception of a Part B deductible, Plan G is a great healthcare option. If you decide to purchase Medicare Supplement Plan G, you’ll need to pay the standard out-of-pocket costs that are included in Medicare Part B’s deductible, which was $166 in 2016. Plan G does cover Part B’s excess charges, though, and G (and F) are the only two Medigap plans to do so.

Excess charges are the differences in costs between a health-care provider charges for a medical service and the Medicare-approved overall amount. Without this option, patients who visit non-participating doctors can be charged up to 15% above what Medicare has initially approved for a covered service, which can be quite pricey.

Medicare Supplement Plan N
Mediap Plan N covers all the same benefits as Plan F except for Medicare Part B deductible and Part B excess charges. Though you would pay 100% of the Part B coinsurance in the majority of instances, there are a few exceptions, including paying up to $20 for certain office visits and a $50 co-payment for visits to the emergency room that do not result in an inpatient admission.

If you’re worried about health or life insurance costs, confused about the differences between Medicare Supplement plans, or just want to speak with an experienced professional, contact Bankers Fidelity right away.

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14
Nov

Julia Louis-Dreyfus Talks Health Insurance After Breast Cancer Diagnosis

Written by Insurance Magazine. Posted in Health and life insurance, Health benefit plans, Insurance services

insurance

The award winning comedian and “Seinfeld” actress Julia Louis-Dreyfus announced this month that she has been diagnosed with breast cancer. When she shared the news, she also talked about how happy she is that she has health insurance coverage. For men and women living with cancer but without insurance, there are many challenges ahead.

Too many people still think that if you lead a healthy lifestyle, there is no need for comprehensive insurance because you don’t get sick. Unfortunately, diseases like breast cancer don’t discriminate, and research shows that simply having health insurance coverage can often save your life.

According to PEOPLE Magazine, women who do not have health insurance (or who have inadequate coverage) do not make regular doctor appointments or get regular mammograms to detect a problem. Yet the research on this issue is clear: women ages 65-74 who have mammograms every two years are more likely to survive breast cancer than women who don’t make the appointment.

Not only that, but women who don’t have insurance and have been diagnosed with cancer face some pretty hefty out-of-pocket costs. According to PEOPLE Magazine, women who have been diagnosed with cancer and lack insurance coverage face paying at least $140,000 versus the $5 to $10,000 that women with good insurance typically pay.

Dr. Ninez Ponce, from the UCLA Center for Health Policy Research, told PEOPLE Magazine that women who are not insured can often go into debt after paying for all of their health care expenses. Not having insurance forces you to miss out on the essential health benefits and causes you to pay so much of your own personal money for life saving treatment. Many hospitals and doctors may even delay certain treatments due to the lack of insurance coverage. Some can’t let their patients receive certain treatments at all until they get the proper insurance coverage.

That’s why many experts will tell you that health insurance can actually save lives. For instance, when the American Cancer Society looked at 52,000 breast cancer cases across the United States, they found a marked difference between women with and without health insurance. For uninsured women with breast cancer, the survival rate is only about 80.4%. For women with insurance, the survival rate jumps to 92.7%.

Julia Louis-Dreyfus urged men and women alike to invest in health insurance when she revealed her breast cancer diagnosis, and it is pretty clear that this coverage makes a huge difference. Not only does it save you money when you get injured or fall ill, but it also can truly help to save your life.

28
Aug

What Will Your Family Do If You Are Injured and Can No Longer Work?

Written by Insurance Magazine. Posted in Health and life insurance, Mississippi medicare supplement insurance, Short term liability insurance

Arkansas short term health insurance

We live in uncertain times. For instance, a person can be working and making a good living one day, and the situation can change in an instant. A fall at work. A mechanical accident that causes you to lose the full use of your dominant hand. With that accident, what was once a stable income can evaporate in just a day. With the help of long and short term disability insurance, however, the injured party has access to several resources. From paying for doctor’s bills and physical and occupational therapy appointments, to making sure that the injured party has a back up income to pay daily bills. And while life insurance plans help families recover when a life is lost, short term disability insurance benefits help individuals recover when a life is limited by injury.
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