Tuesday, October 29, 2013

CMS has announces the amounts for Part A and Part B premiums and deductibles







CMS has announced today the amounts for Part A and Part B premiums and deductibles:

    Part A Premium will be $426 per month, a $15 reduction over the 2013 amount (for those who actually pay Part A premiums)

    Part A Deductible will be $1216 per benefit period, a $32 increase over the 2013 amount

    Part B Premiums will be unchanged at $104.90 for individuals below the $85,000 individual income level.  Premiums for individuals above this level also are unchanged.

    Part B Deductible remains unchanged at $147

See the full  CMS press release at:


Wednesday, October 23, 2013

Why Cash is King...Hospital Indemnity Insurance


Indemnity insurance plans were one of the first health plans to ever be sold in this country. A very simple concept, if you have an illness or accident and accrue medical bills we, the insurer, will pay you a set dollar, indemnity, amount based upon the policy provisions for coverage. 
Many policies in the health insurance field today are so complicated in their benefit structure that even I, with 30+ years’ experience, have a have a hard time understanding what is covered and how much am I going to get paid. The Hospital Indemnity Policies being offered today are a classic example of knowing what you’re buying and understanding the benefits. These policies provide cash to the policyholder that can be used for any number of items after they have been confined to a hospital:
  • Paying health insurance deductibles, whether underage, Medicare Advantage or Medicare Supplement.
  • Paying for charges not covered by other insurance.
  • Paying for relative travel and lodging to help out.
  • Paying for relative travel and lodging to help out.
  • Paying bills at home. 
  • Paying for housekeeping while you recover.
  • Etc...

Many of these policies also offer riders to pay for doctors, surgery, cancer and prescription drugs.  In most cases the cash indemnity is paid to the policyholder direct and they can then use the money as they see fit. The underwriting is minimal and premiums are affordable, starting at just a few dollars a month. Even those on a fixed budget may able to afford this coverage.

The largest medical bills that a person receives are when they end up hospitalized for illness or accident. So, why not insure that risk and make sure you have the money when you need it the most, after being confined to a hospital for illness or accident. After all, CASH IS KING!!!

(This article was written by Philip Warren of Senior Marketing Specialists.)