What is a Medicare Advantage?

Medicare Advantage, also known as Medicare Part C, is a plan provided by private insurance companies, with the help from subsidies provided by the government, so that the insurance company can design network based plans at a low or zero premium.

These plans are normally designed with copays and coinsurance throughout the plans as a form of cost share that the client would assume when joining one of these plans. Most plans will include additional benefits at no additional cost to you such as dental, vision, and/or hearing benefits as an example.

So let's take a closer look at Medicare Advantage Plans.

Medicare Advantage Upside:

It’s convenient to have a single plan for everything
The plan covers everything traditional Medicare covers (hospital insurance and medical insurance) as well as emergency and urgent care
Most plans also include prescription drug coverage
Your eligibility isn’t affected by health or financial status
Premiums are low

Medicare Advantage Down Side:

You’re restricted to certain doctors in your network (unless it’s an emergency)
Plan premiums can change from year to year
Difficult to switch to Medigap later on
Plan benefits can change from year to year
You’re subject to high deductibles and co-pays that tend to range from $3,400-$6,700

What kind of plans can I choose from?

Click Here For MAPD Plan Types

Hospital Indemnity Insurance

Hospital Indemnity insurance, also called Hospitalization insurance or Hospital insurance, is a plan that pays you benefits when you are confined to a hospital, whether for planned or unplanned reasons, or for other medical services, depending on the policy.

These are specifically designed to help you fill gaps in your Medicare Advantage coverage by providing cash to help cover copays, coinsurance, deductibles, pharmacy prescriptions and other non-covered expenses that may arise from hospital stays and services.

Why Hospital Indemnity Insurance?

Hospital stays can strain even the healthiest of budgets. And in many cases, you can’t ignore the care you need even if it pushes you financially. Hospital Indemnity insurance plans provide payment for each day spent in the hospital, and for some other qualified expenses as well. That’s money you can use as you choose, whether for hospital bills or those other costs that come up while you’re recovering.

Often times, we recommend bridging the Medicare gap with both Medicare Advantage and Hospital Indemnity plans.

Cancer/Heart Attack/Stroke Insurance

Cancer is the second most common cause of death - one out of every four deaths. About 77% of all cancers are diagnosed in people who are 55 or older. Statistically 1 in 2 men and 1 in 3 women will develop cancer during their lifetimes.

Heart Attack is the number one cause of death for both men and women in the United States! More than 920,000 Americans will have a heart attack this year and half will occur with no warning signs.

Stroke is the third leading cause of death in women, the 5th leading in men, and among the top 10 in children. Stroke reduces mobility in more than half of stroke survivors 65 and older.

WHY CANCER/HEART ATTACK/STROKE INSURANCE?

Cancer, heart attack, and stroke can happen at any time to anyone. Even those who live a healthy lifestyle run the risk of being diagnosed with one or more of the illnesses. No one likes to think about the possibilities but the risks are very real.

Treatment is very expensive and can cause your other financial obligations to fall behind. The solution is an insurance plan that can pay you a lump sum in the event of one of these diagnoses. You can obtain a plan that covers just one of these catastrophic situations or you can get a plan that helps cover all three!

--Information provided by Aetna Insurance Company