Frequently Asked Questions
Retirement Healthcare Solutions is our program designed to provide you and loved ones with peace of mind about the healthcare spending during retirement. Most people arrive at retirement thinking Medicare will cover all their spending. The truth is Medicare only covers about 30% of what will happen to nearly everyone during retirement. Our job is to analyze your healthcare spending and provide a plan to help pay for the items not covered by Medicare. For us, everything starts with prospective clients taking our quiz. When you take the quiz and schedule your appointment, you’re on your way to potentially having money set aside for just about everything health related that could happen to you. Getting you underwritten is the key. Can you benefit from having money set aside for healthcare spending during retirement? Sure, you can.
The Medicare Help Guys are a group of nationwide life and health agents who work together to provide a local presence for the people they represent. Unlike the big nationwide telemarketing companies who make the sell and never to hear from them again; The Medicare Help Guys are truly local agent right in your backyard. So, if you need to call us for advice-we’re listening. If you need someone to come to your home for an appointment-we can do that too. Although, telesales is the fastest way to sell products, we know even in the 21st Century, people still want an insurance agent. So, we provide you with that local representation.
Medicare (also known as Original Medicare) is a federal government healthcare protection plan for individuals who have retired or may be on disability. This plan promised to protect individuals from the high cost of healthcare spending during retirement. It’s literally that simple. The Original Medicare system is made up of two parts. One part offers protection against the high-cost hospital services, the other part protects beneficiaries against the high cost of medical services. We generally refer to these two parts as Medicare Part A and Part B and there is a Red White and Blue Card provided showing protections for Medicare Part A and B. To receive Medicare, you must meet an eligibility criterion. Once you’re eligible, be aware, although you have protections against the high cost of hospital and medical care that doesn’t mean everything should be free. Therefore, be prepared to pay deductibles, coinsurance, and copay IF YOU ONLY HAVE THE RED WHITE AND BLUE CARD. To get help paying for those deductibles, coinsurance and copays, individuals can purchase one of two types of plans. Option one is a Medicare Supplement plan. Option two is a Medicare Advantage plan. Either way you go you are still provided the protections by the Original Medicare system. To learn more about Medicare check out www.medicare.gov they have a page dedicated to understanding the basics and another page teaching you about the deductibles, coinsurance, and copays.
Medicare Part D is an optional prescription drug benefit for people with Medicare, provided through private plans approved by the federal government. Beneficiaries can choose to enroll in either a stand-alone prescription drug plan (PDP) to supplement traditional Medicare or a Medicare Advantage prescription drug plan (MA-PD), mainly HMOs and PPOs, that cover all Medicare benefits including drugs. It was not a part of Original Medicare, therefore the protections received are not federal they are based on the strength of the private plan provider.
They’re annoying right? Well, the long and short of it is there are at least 6 different nationwide marketing companies marketing Medicare Advantage (Part C) plans to seniors, and they’ve paid pretty good money to tell retirees about their choices. My advice: Use local agents because you’ll never get that telesales person back on the phone after you become a member but if you shop local you should always be able to not only get your local agent on the phone, but most do house calls too.
Long Term Care or what some refer to as basic living expenses should be a major concern during retirement. There are roughly 65 million people in America who have Medicare benefits. Less than 10 percent of this same population will have a basic living policy. Basic living service policies generally include items not covered by Medicare. You may reach a point during retirement where you’ll require help bathing, toileting, transferring from one room to another, cooking, and cleaning. Basic living policies also help cover the cost of living and room and board cost incurred when moving to assisted living, and nursing facilities. While the Medicare cost will go up 1 to 2 percent each year, basic living expenses are going up some 8 to 12 percent or more. If you ever run into a healthcare crisis it’s highly unlikely to happen with Medicare, it will likely happen in the area of basic living expenses.
The life insurance buy should be a rather simple purchase. You’re buying it for two reasons: 1) you’re preparing for the end. 2) you’re buying protection for your family if and when the end comes. Yes, there are two considerations. You buy it for your self and your loved ones. In general, there are two types of protections: Whole life or Term. Yes, there are other types, but the other types are designed from the main two options. You should be considering buying both while you’re healthy. Buying term which can be convertible to whole life later is the best option. The icing on the cake is having that whole life in place later in life, without having to pay any more premiums.
