Insurance Quotes

There are websites all over the internet that say they offer “Free Insurance Quotes“.  However, if you have tried to do any comparison you will discover that usually they will provide you an insurance quote but 10 agents will be calling you for over a month trying to sell you one of their plans.

Websites that provide insurance quotes

There are three websites that provide actual insurance rates online without having to speak to anyone:

  1. Medicare Insurance Finders – offers Medicare Supplement Insurance Rates.  These quotes are available in 47 states and provide updated rates every month for individuals 65 or older.
  2. Life Insurance Rates – this website will allow you to compare life insurance rates with over 25 big name insurance companies.  Term life insurance rate are pretty easy to compare against other plans because a 20 year term is pretty basic – it covers you for 20 years.
  3. Dental for Everyone – is a company that offers a lot of dental plans.  They promote dental insurance plans in every state with the largest dental insurance companies like Delta Dental, Standard Life, Madison Dental and other carriers that are well known.  Continue reading

Bermuda National Healthcare

This week I was in Miami and listened to several men speak who owned insurance agencies, insurance companies and even handled re-insurance with Lloyds of London from Bermuda.  These men began explaining how Bermuda had implemented national healthcare for their 60,000 residents roughly 40 years ago.  They said that it originally looked like what is happening in the United States with the Affordable Care Act.

Affordable Care Act

In a nutshell, the Affordable Care Act (ACA) has had pieces go into effect prior to 2014 but the main dish is coming in less than 12 months.  In 2014, enrollments for group health insurance plans will be done through an exchange and individuals will be allowed to enroll for individual coverage through these exchanges as well.

The ACA will require insurance plans to cover base benefits, no cap or maximum on coverage benefits, no health questions, and many other things.  Some of these things where not in effect with traditional health insurance plans or plans as we know it and these changes are expected to cause health insurance premiums to rise.  Some newspapers have reported increases by as much as 200%, while I think that is a little high 30% is definitely reasonable.

Bermuda National Healthcare

Back to the point of this article, the gentlemen from Bermuda filled us in on what happen in their country when national healthcare was imposed.  They said it was a rough 5 years being implemented.  Rate increases, hospitals had problems getting reimbursed and many other things of this nature.  Forty years later he mentioned that they just about have the kinks worked out.

There plan is similar to Medicare.  They have base coverage and then need a supplemental insurance plan to cover the deductibles, co-insurance, and co-pays that they experience.  The base plans have no health questions, no pre-existing conditions and other features that make this coverage very similar  They also have plans that are rich in benefits similar to the Plan F Medicare Supplement.

Bermuda Medical Facts

Bermuda actually has been recorded as having the second highest healthcare costs in the world.  There plan also does not cover foreigners visiting the country.  Individuals are required to purchase health insurance to cover their own expenses and must be aware if their coverage offers benefits outside their country of residence.

 

What is Medicare Supplement Insurance?

With more and more seniors turning 65 and reaching Medicare eligibility we decided to write an article on the question we hear daily “What is Medicare Supplement Insurance?” I know we have many articles on the website that talk about comparing Medicare Supplement plans, but this article well be strictly educational on: what is Medicare Supplement insurance.

What is Medicare Supplement Insurance

A Medicare Supplement plan is insurance that fills in the gaps of Original Medicare (Medicare Parts A & B).  Medicare only covers a portion of your healthcare needs and over 15 million Americans have chosen a Medicare Supplement plan to help supplement their coverage. Continue reading