Submitted by: Dennis Jarvis

One of the daunting issues that cause people stress when choosing any insurance policy is that they’re making a decision now for an untold period of time and unknown status in the future. Our brains just plain do not like this risk of making a bad decision and this why we fret over many insurance choosing decisions. Picking an Medicare supplement insurance plan is no different and in fact, the period of time and the probably health related issues during that particular period of time is risk and more prolonged than most other health insurance decisions. How easy (or hard) is it to make changes to your Medicare supplement insurance plan in the future? Good question. Before you can decide on any given Medigap plan, it’s best to first understand if you can change it later on.

For most people, there first Medicare supplement insurance will be guaranteed issue which means they cannot be turned down for health. There certain qualifying events with turning 65 and/or leaving a group insurance plan age 65 or older being the two most common. When these guaranteed issue triggers occur, you generally can get Part A and Part B plus a Medicare Supplement plan within a certain period of time regardless of health. What if you choose a plan and decide that it’s not the right plan for you?

If you’re in good health, you may be able to change Medicare supplement insurance plans at any time. The health questions to qualify for this change are actually pretty serious so it’s not terribly difficult to qualify. Of course, if you have more serious health issues, you may not be able to make the change and will have to remain on the initial plan you chose. Keep in mind that if you’re still in your initial guaranteed issue window, you may be able to change regardless of health. If you have significant health issues, make sure the initial plan is the right choice for you during this time or better yet, work with a licensed agent to choose the right plan up front so you have no issues later on.

If you move out of the State, you can still keep your Medicare supplement plan so no changes are required. The plan of a given State will “travel” with you since the network is essentially nationwide. What if your on an Advantage plan and move out of the available area where they cover? That can also be a qualifying event to change to a Medicare supplement insurance plan. The same would hold true if your carrier stops offering Medicare supplement plans. Both of these situations where you involuntarily lose your Advantage or Medicare supplement plan should trigger the ability to change plans regardless of health. Involuntary is the key word there. You can’t just drop a plan by not paying it or voluntarily canceling it in order to change plans.

Ultimately, to reverse the metaphor, a good defense is a strong offense so choose wisely up front. This is partially a function of benefits (check out the F Standardized Medicare Supplement Plan), carrier strength (which affects long term pricing, and of course, current pricing. We have written articles on comparing the carriers, comparing the Medicare supplement plans, and tips about pricing for further investigation. Since you’re making a decision potentially for decades, picking the right plan up front can save you hardship later on.

About the Author: Dennis Jarvis is a licensed insurance agent concentrating on

medicare supplement insurance

. Find more articles and guidance about medigap plans.

Source:

isnare.com

Permanent Link:

isnare.com/?aid=1048335&ca=Finances

Students are one of the biggest groups that struggle with maintaining health insurance. This problem will supposedly be addressed by the up coming changes in the American Health Care program; however these changes may take over a decade to institute. In the meantime it is important to realize the options that are available to students.Many first and second year college students are eligible to remain on their parents health insurance policies because of their age. As they age however, they may find that their parent’s insurance doesn’t want to cover them. Even when your family health insurance coverage will still cover these adult students it may still be advisable to look at other more cost effective health care options.Student health insurance is available to those who are enrolled in school both part time and full time and is usually available through most colleges and universities in the United States. Many times materials relating to student health insurance benefits are included in the initial paperwork that is handed to new students prior to enrollment.Some schools do not include health insurance options in their initial packets however, and if this is the case you may want to sit down and consult with your college advisor about health insurance options that may be available to you through the school or through other professional organizations. You may be surprised to learn about the available option for health insurance through the college years.Most students can pick up affordable health insurance because for the most part those who are college age tend to healthier overall as compared to the population as a whole. Being a lower risk group really helps and that is why many parents even those of college freshmen wind up switching over to student health insurance policies. These policies usually cover a student for all their needs and since they are based on the college or university that they are attending, most of the health care providers in the plan will be local to the school no matter how far away they go from home.

byAlma Abell

Many consumers wonder what the deductible should be when buying Home Insurance Harrisburg PA from Strock Insurance Agency. The cost of homeowners insurance will depend on the deductible chosen. Consumers will have to weigh the pros and cons of choosing a lower or higher deductible. In general, most consumers will benefit from selecting a higher deductible. However, each consumer will have to make his or her own decision on what deductible to choose.

With a lower the deductible on Home Insurance Harrisburg PA, it will be easier for the consumer to file a claim. For example, a $1,500 claim for theft from a home will be covered if there is a $500 deductible. The insurance company will pay the consumer $1,000 in the claim. On the other hand, the premium for a lower deductible policy will be higher. Furthermore, the insurer may decline to renew the policy due to past claims history. Other insurers may choose to decline offering a homeowners insurance policy due to past claims history. That is why it often does not make sense to choose a low deductible for homeowners insurance. However, the deductible chosen should not exceed the maximum that is acceptable to lenders holding mortgages on the subject property.

If the consumer chooses a higher deductible, the premium will be lower. This will make it harder to file a claim when the loss or other damage is of low value. On the other hand, the consumer will not end up with a claims history due to low value claims. In essence, the consumer is using the money saved with lower premiums to self-fund smaller losses. That is why most consumers will be better off choosing a higher deductible when purchasing homeowners insurance.

When shopping for homeowners insurance, it is a good idea to shop multiple companies to get the lowest price possible. At the same time, it is a good idea to get prices at various deductible amounts. The consumer should choose the highest deductible that he or she can afford when there is a loss. That will result in the lowest premium while maintaining a deductible that is affordable for smaller losses.