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WANT TO SAVE MONEY ON HIGH PRICED DRUGS?
Give Canadian Prescription Plan a try. It's easy and simple. No enrollment fee. No monthly fee.Initially
three forms are required. Total time required is maybe 10 minutes. The first form is a disclaimer form. You understand that
I am not giving you medical advice, I am not a doctor, I am not a pharmacist. I am only facilitating getting the drugs
to you. This form just needs your signature. The 2nd form is Family and personal medical history. You just check the condition
you have and then list the medications you are taking. The third form is the
order form. The only other thing needed is a 90 day prescription from your doctor. Payment can be made by Visa, Master Card or Discover Card. Call me if you have any questions.
MEDICARE SUPPLEMENTS
When you first turn age 65 and activate Part B you are in open enrollment for
6 months. This means that you can apply to any company that sells medicare supplements and the commpany has to issue the policy
reguardless of your medical history or present medical condition. You do not have to answer any health questions. After the
6 months open enrollment period ends, a company can ask you medical questions and can decline to issue the policy.
There are 10 standardized plans. They are lettered A through J. Each plan is
a little different in benefits.. The benefits are fixed by law. An insurance company cannot sell a plan of it's own,cannot
add a benefit,cannot take away a benefit. Plan F,for example, has the same benefits no matter what the name of the company
selling it. You become eligible for medicare the first day of the month you turn age 65. If your birthday is the 15th of the
month you will be on medicare the first of that month. Medicare is in two parts. Part A is hospital coverage.When you turn
age 65 you get Part A automatically if you have contributed to social security. No cost to you. Part B is medical coverage.
You can elect to take it or not take it. In 2006, it costs you $88.50 a month and that's a bargan. The government pays
most of the cost.Call me if you have a question.
TERM AND LIFE
There are basically two kinds of life insurance.
Term and Whole Life.
Whole Life costs more but it builds up cash value and the premium stays level.
Term insurance is very popular because it makes life insurance affordable for most people. You buy term insurance for a period
of years. You can get a policy for 10,15,20, 0r 30 years. The premium and amount of the policy can stay level for the period
selected. At the end of the policy, most are renewable,without evidence of insuribility, for another period of years. The
premium will be higher because you are older.
Term insurance is excellent protection for home mortgages,financial obligations
and young growing families. Term insurance should be bought on both the father and mother if they have young children.If something
happens to one of them,the one left becomes a single parent with the responsibility of raising the children alone.
GROUP
Group insurance is guaranteed issue. A company can ask health questions but they
have to issue the policy regardless of past or present health conditions. You have a choice of plans. Some plans you have
to choose a primary care doctor. Some plans you have open access,meaning that you can go to any doctor in the provider network
without a referal.
A company may offer you 10 or 12 plans to choose from. You can choose from a variety of deductibles
and co-insurances to get the cost and coverage best for you. Group insurance is available from 1 person on up. However, a
1 person group can only apply in August of each year for an effective date of October 1st. Other groups can apply at anytime.
Group insurance is generally more expensive than Individual Major Medical. One way to help keep costs down is to consider
covering a spouse or child under an Individual Plan if they are healthy. Individual Plans are not guaranteed issue. Call me
if you have a question.
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INDIVIDUAL MAJOR MEDICAL
The most popular and economical individual major medical
plans are PPOs (preferred provider organizations). This means that an insurance company has negotiated with doctors and hospitals
for discounted fees. This forms a provider network. You get maximum benefits using providers in the PPO network. You generally
have benefits if you go out of network but you will have reduced benefits. For example,you may have an additional deductible
and a higher co-pay. Individual plans are medically underwritten. You fill out an appliacation that includes your past and
present medical history. A company can accept your application as is. Or the company can decline your application. Or the
company can put a rider on the policy that says a specific condition will not be covered. When the policy is issued,you have
the final decision to accept or decline the policy. Unlike group insurance, individual major medical is not guaranteed issue.
To keep costs down, a person should consider a high deductible plan. A person should consider an MSA (Medical Savings
Plan). This is a high deductible plan with a side fund that has excellent tax advantages. Call me if you have a question.
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