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Discussing the Details

The insurance landscape is complicated—that’s not news to you. What might be is that gaining an understanding of how Medicare and standardized Medicare supplemental plans work—and how they relate to your specific needs—isn’t impossible. If you’re ready, read what we’ve outlined regarding common Medicare insurance questions below, or get in touch with one of our agents to talk it over.

It's not what medicare does, it's what it doesn't do...

Medicare is confusing. We absolutely get that. What government program isn’t? The problem is not what Medicare does; it’s what Medicare does not do. What you need is a thorough understanding of exactly where the pitfalls of Medicare lie. Even people who administer Medicare are often confused by it! Once you understand the basics, you can identify potential problems. That’s what we do! We’re going to explain how Medicare is structured, how it works, what it does, and ultimately, what your financial responsibilities are. Then, and only then, will we discuss the solutions you will understand.

Adding to the confusion is a “tidal wave” of insurance agents and providers inundating your mailbox, inbox or television with a “one size fits all” message. The message is always the same: “Medicare pays 80%...you pay 20%...we have a policy to cover that…here’s the costs…what do you think?” We all know it’s not that simple, but wait, it gets better. Uncle Sam “piles on” with a 161 page “Medicare & You” handbook that no one short of a rocket scientist could hope to decipher as well.

You need a primer so that your individual needs are truly understood. Your needs come first. At that point, solutions can be discussed. You wouldn’t take advice from your doctor without a thorough examination, would you? Did you know that in a worst-case scenario (while highly unlikely) you could potentially be exposed to $62,468 in “out of pocket” expenses? And the fact is, this has nothing to do with the 80/20 split in Medicare Part B. It’s like we said, Medicare is confusing. You need an expert on your side, someone who takes the time to start a conversation about the critical details you need to understand in order to protect both your health and financial well being.

We’re here to help and we’re just a phone call away!

The insurance shell game: how to play to win!

Have you ever actually read an insurance contract? Page upon page of the most confusing language ever typed on a sheet of paper. You’d need a PhD to decipher exactly what you’re buying in terms of coverage. And then when it’s time to use it, you find out that what you thought was covered, may not be covered.

Ever bought Health Insurance thinking you’re in great shape only to be hit with a second or third year premium that increased so substantially, you’re left having to reselect a provider all over again?

Welcome to the Insurance Shell Game, an old industry process of taking something which should be fairly straightforward and twisting it “just so” the average consumer can’t really understand exactly what they’re buying, or if it was the right provider or product. Without an advocate, you’re not likely to win.

Medicare, as an insurance category, is rampant with these types of shenanigans.

On the road to Medicare you’re going to be faced with a decision, a fork in the road, if you will. There are two ways you can travel, and the first path is known as Medicare Advantage, or Medicare Part C. If you choose Medicare Advantage, you no longer receive your health coverage from Medicare. In doing so, you’re going to receive health care coverage from a private insurance company in its place. You will be limited to the doctors you can visit, the facilities you can use, and ultimately, the level of care you will receive.

Now, if there were no alternative, it wouldn’t matter. But there is an alternative, and that is a “standardized” Medicare Supplement. With this choice you maintain control over your health care coverage, as opposed to being restricted to networks and agendas. Don’t you want to choose your doctor? Well, you can with a standardized Medicare Supplement. In fact, with a standardized Medicare Supplement, you can see any doctor and visit any hospital that accepts Medicare, anywhere in the United States.

The point is, it’s a shell game. You have alternatives and we function as your advocate. There’s no additional costs involved by talking with us! We know the shell game well enough to help you be the winner. Call us, we’re here when you’re ready!

If all medicare supplement plans are standardized, why pay more for the same coverage?

In 1990 the US government standardized Medicare Supplement plans, making them much simpler to understand. Prior to that, there was no standardization, which led to considerable difficultly in understanding the individual plans when shopping for a Medicare Supplement. Consumers were faced with the reality that one insurance company could offer their supplement plans one way, while a different company could offer theirs another way. It was confusing – like trying to differentiate between Medicare “Parts” and Medicare Supplement “Plans.” They’re both five letter words that start with a P and end with an S. Only the government could come up with this stuff, which is why standardization was such a godsend.

At SilverCove, we leverage standardization. As brokers, we are allowed to represent your interests. We shop the landscape of available choices and determine which providers offer the very best coverage for you and your family. Think of shopping for a car. The same car at ten different dealerships will have ten different prices. We’ve unfortunately all seen this before. That’s why we battle to locate the best plans with the lowest costs.

You as the consumer have two distinct choices, you can deal directly with an Insurance Provider who hires an in-house agent who works specifically for that provider. The “captive agent” represents and sells products exclusively from that specific provider. Alternatively, you can choose to work with an “insurance broker,” like SilverCove, and have a personal relationship with a licensed agent who will represent you first and has no allegiance to any one provider. We’re allowed to shop the entire marketplace and locate the best plan for you and your family.

It really is that simple. And here’s the “cherry on top”, it doesn’t cost you any more to have a relationship with us for life! You get the best of both worlds. Your financial well-being is just as important as your health, because without your health, you have no wealth.

We’re ready to get started today! Call us!