Common Sense Retirement will give you good information regarding your Medicare Insurance choices but for detailed information you should refer to the government sources.
For detailed information about Medicare PLEASE refer to the book the government should have mailed you entitled
Medicare & You 2010
This is your best source for answers other than a broker who has read this book and possesses a copy. (if he/she does not have one send them away)
Look in the back of the book where every Medicare Advantage plan for your area is listed along with a brief description and the premium.
Government source of information is www.cms.gov, www.ssa.gov, and www.medicare.gov. These are the guys who regulate the industry and attempt to protect you. ALL the details are on these sites.
There are hundreds of insurance plans available to supplement what Medicare pays. Buy the book now to begin learning the difference.
Final Expense Insurance
This is a small life policy so the kids don't have to get in their own pocket to bury you. A mortuary will tell you the current cost of a funeral is between $6,000 and $20,000.
Premium: $10 to $30 per thousand dollars of insurance depending on your age (annual premium)
Long Term Care Insurance If you are old enough to be considering Medicare it is probably a little late to buy LTC insurance. The cost may exceed the benefit.
That said, there are some annuity products that provide for LTC over and above the normal benefits of an annuity.
Critical Care Insurance When you have a serious medical event you need cash for non medical expenses. If you pay a premium for health insurance that company will expect to continue being paid even if you are flat on your back. This insurance pays you cash in the event of a serious medical event. You can use this cash any way you need to. You may not be eligible if you already had a medical event but you may be eligible for the other. About half the cost of a serious medical event is non medical such as the cost of daily living and getting to and from the hospital and a host of other unplanned costs.
Premium: $15 to $40 per thousand of insurance depending on your age (annual premium)
Medicare To learn about Medicare Supplement, Medicare Advantage or Medicare PDP (Rx) get my book.
Zero premium Medicare Advantage plans offer essentially as much protection as more expensive premium plans. The insurance companies need the money.
Premium: $0 to $300 a month.
If you can afford a $200/month premium you can have Medicare Supplement Plan F and never have a medical bill. This $200/month should include your $40/month Part D (Rx) plan.
Read about it in the book so you are NEVER taken advantage of.
Decisions This insurance tends to be complicated and is unlike traditional health insurance.
You really need a broker certified in Medicare Advantage who will guide you without selling you. You are smart enough to decide once you have the information.
The broker being certified in Medicare Advantage is not so you will get a Medicare Advantage Plan but rather so that you will have all the options. Many Health agents sell Medicare Supplement Plans but are not certified for Medicare Advantage. Do you want an agent with only one barrel loaded? (That is shotgun talk. Don't tell Nancy or Sarah)
If you are on retirement insurance through your company or union you most probably should stay where you are. If the Union, etc., is protecting your benefits it will not matter much if the insurance company bows out because the union will just get another insurance company.
There are many choices. You should be able to find something that fits your needs/budget just fine.
Before chosing an agent or broker read about it and get enough information to decide.
"Common Sense Retirement"
For an agent to meet in person with you, you have to agree to an appointment on an approved government Scope of Appointment form. This is the law.
Read all about it in the book.
IN NO CASE do you want to buy insurance instead of eating.
You only need good information to make your own decision. My book will absolutely save you money and possibly a lot of problems if you read it and follow my suggestions.
