Frequently Asked
Questions
Medicare Advantage (also known as Medicare Part C) is a health insurance plan offered by private insurance companies that provides the same coverage as Original Medicare (Part A and Part B) and often includes additional benefits such as prescription drug coverage, dental, vision, and hearing benefits.
You can enroll in a Medicare Advantage plan during the annual enrollment period (AEP) which runs from October 15th to December 7th each year. You can also enroll during a special enrollment period (SEP) if you have certain life changes such as moving, losing employer coverage, or qualifying for Medicaid.
No, Medicare Advantage plans can differ in terms of coverage, costs, provider networks, and extra benefits. It’s important to compare plans carefully and choose the one that best fits your needs.
The costs of Medicare Advantage plans can vary depending on the plan you choose. Some plans have no monthly premiums, while others may have higher premiums but lower out-of-pocket costs. You may also be responsible for copayments, coinsurance, and deductibles.
Medicare Advantage plans typically have provider networks, which means you may need to choose doctors and healthcare providers within the plan’s network to receive the most cost-effective care. Some plans may offer out-of-network coverage, but it may come at a higher cost.
Many Medicare Advantage plans include prescription drug coverage, but not all do. If you need prescription drug coverage, it’s important to choose a plan that includes it or enroll in a separate Medicare Part D plan.
Yes, you can switch to a different Medicare Advantage plan during the annual enrollment period or a special enrollment period. It’s important to review your options each year to ensure you’re enrolled in the best plan for your healthcare needs.
If you move out of your plan’s service area, you may need to choose a new Medicare Advantage plan or return to Original Medicare. You may be eligible for a special enrollment period to make changes to your coverage.
No, you cannot have both a Medicare Advantage plan and a Medicare Supplement (Medigap) plan at the same time. You can only have one or the other to supplement your Original Medicare coverage.
Final expense
Final expense coverage is a type of life insurance that is designed to cover the costs associated with end-of-life expenses, such as funeral and burial expenses.
Final expense coverage is typically available to individuals between the ages of 50 and 85, although specific age requirements may vary depending on the insurance provider.
Final expense coverage is specifically designed to cover end-of-life expenses, whereas traditional life insurance policies may provide coverage for a wider range of expenses, including mortgage payments, college tuition, and other expenses.
Final expense coverage is specifically designed to cover end-of-life expenses, whereas traditional life insurance policies may provide coverage for a wider range of expenses, including mortgage payments, college tuition, and other expenses.
If you pass away before your coverage is approved, your beneficiaries may not be eligible for the full amount of coverage. However, some policies may offer a limited death benefit in the event of accidental death.
Life Insurance
Life insurance is a contract between an insurance policyholder and an insurer, in which the insurer guarantees to pay a designated beneficiary a sum of money in exchange for a premium, upon the death of the insured person.
The beneficiary is the person or entity named in the policy who will receive the death benefit payment in the event of the insured’s death.
Yes, you can change your beneficiary at any time by contacting your insurance provider and completing the necessary forms.
In most cases, the death benefit payment from a life insurance policy is not taxable. However, there are some exceptions, such as when the policy is sold or transferred.