Breaking the Social Security Insurance Program

News pertaining to social security insurance is so sporadic that it is hard to differentiate what is actually true regarding Social Security’s financial situation. We will be reporting on the basics of Social Security with a small emphasis on what the Congressional Budge Office (CBO) says.  Trust me, I understand that the CBO’s reports are not always accurate and everyone should cautiously believe anything in this article or any other article that is quoting this budget office.

Two Pieces of Social Security Insurance

  1. Old Age and Survivors Insurance (OASI) – this trust fund is expected to last for another 15 years given its current condition.  Stating that it is not raided to pay for the DI trust fund or other deficit issues that America is facing.
  2. Disability Insurance (DI) – the disability insurance portion of the Social Security Insurance fund is predicted to run dry by 2016.   The law states that benefits must be cut across the board by roughly 30% when this portion of the fund runs dry.

How can Social Security be fixed?

There are several options that come to the top of my head.

  1. Increase taxes.  Most likely they will increase taxes on those earning $250,000 or more; however, with a republican house this will be difficult.  High income earners are already paying an additional tax while working and then another tax after they retire on Medicare Part B and Part D premiums.
  2. Payroll Taxes might increase.  This obviously would not be a popular option.  They also could try cutting write-offs like the home mortgage.
  3. Kick the can down the road and disregard the law that is in place.  This is probably what would happen if the administration, senate and house do not change.

In an article published recently I was enlightened to the fact that there is already a loophole to drain the OASI insurance (the first trust fund of Social Security Insurance).

To see other insurance programs like Medicare visit Medicare Insurance Finders.

Social Security Insurance and Medicare Supplement Quote

Compare Medicare Rates – Medicare Insurance Finders
Save Hundreds on your Supplemental Insurance

 

How to purchase Medigap insurance?

It’s kind of funny how most people throughout their whole life have an HR director telling them what their options are for insurance benefits.  Then when you turn 65 and begin a whole new type of health insurance, you are expected to know How to Purchase Medigap Insurance!  

Most likely you are used to having one option through your employer and here is the premium you will be required to pay take it or leave it.  Well Medigap Insurance is not the same.  Medigap Insurance is a supplemental insurance plan that fills in the gaps of Original Medicare (Parts A & B).   In other words, once you have Medicare there are deductibles, coinsurance and co-pays that you are responsible for – Medigap plans covers these expenses. Continue reading

Dental Insurance Rates

If you have retired or nearing retirement you may be wondering what you need to do about purchasing dental insurance.  Since Medicare does not cover dental care and odds are you have had dental coverage through your employer you will likely want to compare dental insurance rates with numerous companies in your area.

If you want to learn more about Dental Insurance Plans continue reading.  However, if you are here just to compare dental insurance rates click here.  Dental Insurance Plans come in all shapes and sizes as you may be aware.  There are plans that cover everything, others that only cover basic procedures, and even some “discount dental plans” which will help lower fees at participating doctors.

Dental Insurance Rates

Dental Insurance Rates will vary based on numerous factors: company name, administration costs, network costs, benefits in the plan, and other smaller factors.  The main cost of dental insurance comes down to the benefits.

Most Senior Dental Insurance does not cover major services like orthodontia or other procedures that are not necessary this lowers the rates tremendously.  If you look at an example plan called the Senior Choice Plan – it combines dental and vision insurance and covers all the basics like checkups and x-rays but does not cover major services.

You may be thinking well why would it not cover major services?  There is no need to pay for something you will not use and that is just going to add additional costs to the premium.   Statistics show that people will spend roughly $30 per month for a dental insurance policy, but any dental insurance rates over $50 are not commonly purchased (unless for family purposes).

If you would rather speak with someone on the phone about Dental Insurance compared to looking online please call 1-800-800-1397 option 6.

Dental Insurance Rates

Offering Supplemental Medicare plans – Medigap and Dental Insurance

Texas Health Insurance

If you are looking for Texas Health Insurance, you have come to the right place.  We offer online insurance rates to those that are 65 and older looking for Medicare Supplement Insurance.  Since these plans are “standardized” it makes comparing policies much easier.  For instance a Texas Medicare Supplement with Mutual of Omaha provides the same benefits as a Cigna Medicare Supplement.

With Texas being one of the largest states in the country, they have a lot of insurance companies that offer Texas Health Insurance.  There are also some interesting Texas Medigap Laws that can help you lower your premiums.  We will not cover all the laws but some of the key benefits are:

  1. Premiums rate increases for height and weight can not be applied to the premium in Texas.  Some carriers have heigh/weight charts that will increase the premium if an individual does not fall in between a certain category.  Texas does not allow these “rate ups”.
  2. Gender Rates are not applied for Texas Health Insurance.  Male and Female premiums are the same.  When getting a quote you will still be asked for your gender, but it is not calculated in the premiums. Continue reading

Medigap Insurance Statistics

With over 10,000 people a day turning 65 we have a good base to begin pulling Medigap Insurance Statistics.  We have done a study on our clients, baby boomers in general as well as pulling data from actuarial companies and Medigap advocacy groups.  This article may not be a clean read but the statistics are pretty good.

Medigap Insurance Statistics – Rate Increases

Medicare Insurance Finders has written these Medigap insurance statistics based on our current Medigap clients. If you are looking for Medigap Quotes Click Here.

  1. Medicare Supplement policyholders with a Plan G will receive an equal to or smaller rate increase over a Plan F Medicare Supplement 95% of the time.
  2. Healthy Medicare beneficiaries will compare Medicare Supplement insurance every two or three years in hopes of obtaining a lower Medigap Rate.

Medigap Insurance Statistics – Rural Policy Holders

These statistics were provided by the Partnership to Protect Medigap.

  1. Roughly 46% of Medigap policyholders had incomes of less than $30,000 per year.  Roughly 57% of rural Medigap policyholders had incomes of less than $30,00 per year.
  2. Over 90% of all Medigap policyholders had incomes of less than $50,000 per year.
  3. 33% of Medicare Supplement policies had residents in rural areas in 2011 but 23% of all Medicare individuals live in non-metropolitan (rural) areas.

Insurance Companies Offering Medigap Insurance

There are numerous companies that offer Medigap Insurance and companies vary by state. To see a quick comparison of Medicare Supplement Companies by zip code click here and you will be directed to a quote engine which provides a list of carriers by price.

If you have other questions about Medigap Insurance contact Medicare Insurance Finders and we will be your resource for Medicare questions.  We can be reached at 1-800-800-1397 or by email at seniordivision@morganwhite.com. Thank you for visiting our website and make sure to get a Medicare Supplement Quote before you leave.

Medigap Insurance Statistics

Medicare Supplement Plans

2013 Medigap Plans

Are you wondering what the 2013 Medigap Plans look like?  The good news is they are standardized so comparing these Medicare Supplement Plans is not difficult.   See below for the different plans that are available.

2013 Medigap Plans

Standardized 2013 Medigap Plans

Medigap Plans provide coverage for the gaps in Original Medicare.  They pay the deductibles, co-pays and coinsurance associated with healthcare expenses for Medicare Beneficiaries.  The plan F is the most popular Medicare plan with other plans being popular as well (Plans C, G, and N).

2013 Medigap Plans

One of the most important things to remember when looking at 2013 Medigap Plans is that Price and Financial Stability are two very important factors to review.

  • Price is probably the most important since these plans are standardized and companies can not vary on benefit structure.
  • Choosing a carrier with a B+ or higher is important because you want to have a carrier with a strong financial capacity.

If you would like to see 2013 Medigap Plans and their Rates Click Here.

What should you know before purchasing a Medigap Policy?

  1. Know what type of coverage you are considering purchasing?
  2. Know what plans are available in your state!
  3. Understand that companies must provide standardized benefits for Medigap plans.
  4. Know that Medicare Advantage Plans and Medicare Supplements are not the same thing.
  5. Be aware of fraudulent agents!  There are a lot that will come to your house sit at your kitchen table and explain they work with Medicare.  THEY DO NOT WORK WITH MEDICARE!
  6. Medicare Insurance Finders is the number one source for Medigap Plans and Comparing Medicare Supplement Plans.
  7. Open Enrollment Periods and Guaranteed Issue Periods mean that you have no health questions dealing with your Medicare Supplement or Medigap Plan.

Contact MWG Senior Services/Medicare Insurance Finders for your 2013 Medigap Plan! Our Phone Number is 1-800-800-1397 option 6;                                                   Email: seniordivision@morganwhite.com. 

Ohio Medicare Supplement Insurance

Ohio Medicare Supplement Insurance is a standardized insurance product that is regulated by the federal government but managed by the Ohio Department of Insurance.  There are 10 Medicare Supplement Plans available; however, the most popular plans are the Plan F and Plan G.  To learn more about Medicare Supplement Insurance read below, but if you just want Ohio Medicare Supplement Rates Click Here. Continue reading

Mississippi Health Insurance

If you are in need of help with your insurance in the state of Mississippi and are nearing retirement we can help.  MWG Senior Services is located in Jackson, MS and provides retiree insurance to individuals all across the state of Mississippi.  If you just want to get a Medicare Supplement Quote online without having to call someone we have that option available as well!  There is one thing certain – Mississippi Health Insurance is available to all individuals no matter what health issues you may be dealing with.

Insurance is a confusing topic to most people that is why we recommend you speak with a professional who can help explain the ins and outs of the policy.  If you are retiring and looking for a supplemental plan for Medicare there are a few things that you need to know before choosing a Mississippi Health Insurance Policy.

Mississippi Health Insurance

  1. The first thing to understand is that if you are looking at a Medicare Advantage plan, know that not all doctors accept these plans.  Also if you decide to change plans this plan can only be cancelled certain times throughout the year (Medicare Advantage Dis-enrollment Period). 
  2. Mississippi Medicare Supplements are offered by many companies.  Most people think Blue Cross Blue Shield or Humana are the only options for these plans.  There are over 15 “A” rated companies that offer these plans in Mississippi and the price difference is unbelievable.
  3. Medicare Part D plans vary greatly.  If you are not on any drugs you should think about a very low premium plan.  However, if you are taking prescriptions consider analyzing them with MWG Senior Services or going to Medicare.gov to evaluate your options.

Remember that insurance plans are state specific and in some times county specific so if you don’t know what you are looking for contact a specialist in the Medicare insurance market.  MWG Senior Services can be reached at 800-800-1397 option 6 or you can visit our website at www.mwgseniorservices.com.

Mississippi Health Insurance

Mississippi Health Insurance – MWG Senior Services

 

Aflac Medicare Supplement Rates

Looking for Aflac Medicare Supplement Rates?  If so you have come to the #1 source for comparing Medicare Supplement plans.  This website provides you with online quotes with over 25 insurance companies with up to date comparisons of the top plans in your state.

Aflac Medicare Supplement Rates are competitive with many other plans across the country.  After realizing the large potential of business that Aflac was missing by not being in the Medicare market they decided to jump in to be one of the top companies.  Aflac provides different benefits such as “household discounts” and other benefits that will help you save hundreds a year on your policy’s premium.

Aflac Medicare Supplement Rates

If you are not familiar with how Medigap insurance works, it is extremely important to compare Medigap premiums so that you do not pay more than necessary for your coverage.  Medicare Supplement Plans have been standardized which makes comparison of these insurance plans simple.  If you would like to compare Aflac Medicare Supplement Rates with another company you will need to do these 4 easy steps:

  1. Go to the Medicare Supplement Quote Engine
  2. Enter your basic demographic information
  3. Fill in some information pertaining to when your Medicare goes into effect
  4. Compare Medicare Supplement Quotes with over 25 insurance companies

It is that easy to get a Medicare Supplement Quote!  No more wondering if you are paying too much for your coverage, instant online quotes that help you compare the pricing with just about every A rated company in the insurance industry.

If you are not a fan of comparing insurance online give us a call at 1-800-800-1397 for your Aflac Medicare Supplement Rates!  Medicare Insurance Finders is the number one source for helping seniors learn, save and compare Medicare Supplement Insurance Plans!  We look forward to being your trusted source for insurance information.

Aflac Medicare Supplement Rates

Providing Aflac Medicare Supplement Insurance Plans

Aflac Medicare Supplement Insurance

Aflac Medicare Supplement Insurance has been released and is firing on all cylinders. This is expected to be one of the most competitive insurance companies writing Medigap insurance plans in 2013 (along with Cigna Insurance Company).  You can expect them to have low rates across the country with an online application that licensed insurance agents can enroll you through.

Aflac has been known as a market leader for providing niche products for many years and is expected to have an exciting entry in the Medicare Supplement market.  Aflac Medicare Supplement Insurance Rates will be available on the Medicare Supplement Quoter as soon as they have been approved by the different insurance departments.  We are known for providing health insurance rates online with numerous insurance companies and you can guarantee that we will had Aflac to that list.  Continue reading