Insurance

There are essentially two kinds of heath insurance: Fee-for-Service and Managed Care. Although these plans differ, they both cover an array of medical, surgical, and hospital expenses. Most cover prescription drugs and some also offer dental coverage.

Fee-for-Service

These plans generally assume that the medical professional will be paid a fee for each service provided to the patient. Patients are seen by a doctor of their choice and the claim is filed by either the medical provider or the patient.

Managed Care

More than half of all Americans have some kind of managed-care plan. Various plans work differently and can include: health maintenance organizations (HM0s), preferred provider organizations (PPOs), and point-of-service (POS) plans. These plans provide comprehensive health services to their members and offer financial incentives to patients who use the providers in the plan. 

At Alpine Advantage we help cut the confusion! Give us a call today.

Turning 65? Sign-up for Medicare!

Medicare is a fee-for-service health care program for seniors, in which the government pays health care providers directly for services that fall under Parts A and B of Medicare benefits (see below). However, if you are looking for more coverage than Original Medicare, you can purchase a Medicare Supplement plan or a Medicare Advantage plan. Medicare is divided into four categories. This allows you to customize your personal coverage when shopping for a comprehensive policy.

 

Insurance Specialties

Life Insurance Information

There are many kinds of life insurance, but they generally fall into two categories: term insurance and permanent insurance. Term insurance is designed to meet temporary needs. It protects for a specific period of time (the "term") and generally pays a benefit only if you die during the term. This type of insurance often makes sense when you need coverage that will disappear at a specific point in time. For instance, you may decide that you only need coverage until your children graduate from college or a particular debt is paid off, such as your mortgage.

In contrast, permanent insurance provides lifelong protection. As long as you pay the premiums, and no loans, withdrawals, or surrenders are taken, the full face amount will be paid. Because it is designed to last a lifetime, permanent life insurance accumulates cash value and is priced for you to keep over a long period of time. It's impossible to say which type of life insurance is better because the kind of coverage that's right for you depends on your unique circumstances and financial goals. But remember, the best way to figure out the amount and type of life insurance that makes sense for your particular situation is to meet with a qualified and licensed life insurance professional.

Group Health Information

Group health insurance is a single policy issued to a group of people, offering uniform healthcare benefits to all members. In most cases, these policies are purchased by employers and offered to eligible employees and their families as part of an employee benefits package. Enrolling in group health insurance generally costs participants less than what they would pay for an individual healthcare policy for two main reasons:

1. The risk is spread over the whole group, as opposed to just one individual.
2. Many employers pay a portion of employees’ premiums.

What are the benefits of group health insurance?

For employees, the benefits of group health insurance include the reduced price of healthcare and the ease of enrolling through their employer. For employers, the benefits range from attracting quality workers to the tax credits they can receive.

Is your business required to purchase group health insurance?

Large businesses with 50 or more employees are now required to offer group health insurance under the Affordable Care Act. Small businesses with fewer than 50 employees are not required to offer coverage, but they can qualify for tax credits to help offset the cost if they choose to offer healthcare and pay for at least half of each employee’s premium.

Final Expense Information

Losing a loved one can be an overwhelming experience with decisions to be made regarding funeral plans. Final expense insurance covers the funeral costs of the departed, which saves family members from the stress of a large expense. Similar to final expense insurance, life insurance also pays the beneficiary upon the death of the insured. However, there are significant differences between these policies.

Life insurance often requires a medical exam and can be denied if an applicant has a preexisting chronic condition. A life policy is purchased for high dollar amounts, often beginning at $10,000, which makes the premiums higher. There is no medical exam required for final expense insurance. Most applicants are qualified after answering a health questionnaire. The face value of a final expense policy is much smaller than traditional life insurance policies, which results in a lower premium.

Final expense insurance can help your family when they need it most. Here are a few benefits to purchasing a final expense policy:

- It is designed to pay out immediately.
- Rates never increase, and benefits never decrease.
- Most people can easily qualify.
- It is a more affordable alternative to life insurance.

If you are not sure whether final expense insurance is for you, we can answer your questions. Call us today, and we can help you protect your family’s future.

Medicare Information

Medicare is a fee-for-service health care program for seniors, in which the government pays health care providers directly for services that fall under Parts A and B of Medicare benefits (see below). However, if you are looking for more coverage than Original Medicare, you can purchase a Medicare Supplement plan or a Medicare Advantage plan. Medicare is divided into four categories. This allows you to customize your personal coverage when shopping for a comprehensive policy.

- Part A (hospital insurance): Covers hospital care, emergency services, nursing home care, home health services, and hospice.
- Part B (medical insurance): Covers medically necessary services and supplies used for diagnosing and treating medical conditions, and preventative services for illness prevention and/or early detection. Examples include ambulance services, mental health care, outpatient procedures, and clinical research.
- Part C: Combines Parts A and B and often part D as well.
- Part D: Offers prescription drug coverage.

Original Medicare offers coverage for services and supplies that are considered to be medically necessary, such as doctor visits, lab tests, and wheelchairs. There are several alternative plans you can choose from for additional coverage, and each plan must offer at least the same coverage as Original Medicare. There are two Medicare plans that we can assist you with. A Medicare Advantage Plan, also known as Part C, combines Part A and Part B as a replacement to Medicare for more comprehensive health care coverage. This plan can be customized with additional coverage, such as a prescription drug program (Part D), vision, and dental. A Medicare Supplemental Plan, also known as Medigap, has a higher premium but supplements the coverage gaps and deductibles that Part A and Part B leave behind.

Seniors are in the most need of health care, but once retired monthly premiums can become hard to maintain. Enrolling in the Medicare program allows you to get the care you need for a minimal charge. Contact us today to learn more about coverage options. We are happy to work with you to determine which Medicare options work best for you.