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  • Medicare Part B Penalty – Don’t Get Caught

    4:59 am on January 22, 2012 Permalink | Reply
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    Missed you initial enrollment period to sign up for Medicare Part A and or Part B? Then take advantage of the Medicare general enrollment period which lasts until March 31.

    Still in your 7 month Medicare enrollment window ( 3 months before, your birthday month, 3 months after)?  Then get signed up now so you don’t face lifetime penalties.

    Here are two things you need to know about Medicare general enrollment:

    1. You will probably also face a penalty if you could have signed up for Medicare Part B before, but didn’t. This penalty applies for as long as you have Medicare Part B.  Part B is $99.90 per month for most people (it is taken directly from your social security check). (If you didn’t sign up for Part B because you were still working, you have a special enrollment period -so make sure you don’t miss that deadlne).

    2. If you sign up now, your coverage Medicare begins July 1.

    When you start looking for Medicare health plan – like a Medicare Advantage or Medicare Supplement plan you’ll also find some things are more difficult because you missed your deadline.

    For Medicare supplement plans, your acceptance and price will probably be based on your health conditions. The healthier you are the less your monthly premium will be. Medicare supplement plans tend to cost more, but you have fewer deductibles and co pays along the way.

    Medicare Advantage plans do not have medical underwriting (except for end stage renal disease) so if you have medical conditions it might be an appropriate plan choice.  Just
    remember that you pay co-pays and deductibles and must use the network so make sure you understand the full cost of the coverage and your doctor’s are in the network.

    You can get Medicare health plan quotes online at http://www.medicare.iquote.com.  Just click on the Compare Plans now button on the right hand side of the page.   You’ll find most of our most popular  Medicare supplement, Medicare Advantage and Medicare Part D plans.  Confused?  An iQuote.com Medicare health plan advisor can help you sort out what type of Medicare health plan might be right for you.

     
    • Donna A. Menner 9:32 pm on January 24, 2012 Permalink

      Thanks for telling us this very important information. It could be very easy to miss the general enrollment period. Good to know that the $99.90 for Medicare Part B can be taken directly from our social security check. A lot of people may not know that either. Does that mean it would be MORE expensive if we don’t have it directly taken from SS check???

  • Using Your New Medicare Advantage Plan

    9:47 am on January 20, 2012 Permalink | Reply
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    Get Fit with Your Medicare Advantage Plan

    Whew!  The Medicare annual enrollment period is over.  You have your new plan card in hand.  What next?

    Use it to tackle some of your New Year’s resolutions!

    One of the advantages of a Medicare Advantage plan is the extra benefits beyond doctor and hospital services.

    Many Medicare Advantage plans include dental and vision benefits.  If you’ve put off the eye exam and new pair of glasses, now is the time to get that scheduled.  Just make sure that you thoroughly read your plan benefits and understand what doctors are in the network and what fees are covered by the plan and what you’ll have to pay.

    How about that gym membership?  Many Medicare Advantage plans now include gym club memberships like Silver Sneakers. New research shows that people who enroll in plans with gym memberships report significantly better general health, fewer limitations in moderate activities and less difficulty walking.

    So if your New Year’s resolution included getting more fit, pull out that Medicare Advantage card and find yourself the closest gym in your network!

     
  • 7 Medicare Traps to Avoid: Webinar for New to Medicare

    4:04 am on January 11, 2012 Permalink | Reply
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    If you are turning 65 this year, you are  probably knee-deep in information about Medicare. Your mailbox is filling up with brochures and offers.

    But it’s the things you don’t know that are going to slip you up.

    Costs, deadlines, failing to understand the true costs of Medicare Advantage, Medicare supplement guarantee issue periods and more.

    That’s why iQuote by Longevity Alliance is hosting an online seminar for people who will be signing up for Medicare this year.

    In this webinar you’ll discover 7 tips to help you navigate the Medicare maze, find the right plan and save money.

    The webinar is Wednesday, January 18, 2012 at 1:00 pm EST.

    Space is limited so register now by clicking here.

    There is no cost or obligation for the Getting Ready for Medicare webinar.

    Whether you’re turning 65 soon and Medicare is top of mind, or you are over 65 and leaving your employer health plan to enroll in Medicare, this webinar will give you the basics you need to make your important Medicare decisions.  Join us.

     
    • Donna A. Menner 10:56 pm on January 11, 2012 Permalink

      Medicare can be difficult to understand – that is why a lot of children handle the Medicare issues for their elderly parents.

  • Long term care insurance tax benefits

    7:37 am on January 10, 2012 Permalink | Reply
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    Whether you have a long term care insurance policy or are considering buying one this year, remember there are tax benefits for owning a long term care insurance policy.

    Tax qualified (which is most current plans) TCI premiums are considered medical expenses.  So if you itemize your deductions, medical expenses are deductible to the extent that
    they exceed 7.5% of your adjusted gross income (AGI).  The amount of the long term care insurance premium that can be treated as a medical expense is defined by the IRS.

    Below are the maximum allowable Federal tax deductions for long term care insurance premiums for 2011 and 2012. Check you state tax law to see if you are eligible for state credits or deductions.

    Attained
    age before the end of the year

    2012

    2011

    40 or less

    $350

    $340

    More than 40, no more than 50

    $660

    $640

    More than 50, no more than 60

    $1,310

    $1270

    More than 60, no more than 70

    $3,500

    $3,390

    More than 70

    $4,370

    $4,240

     
  • Life Insurance Over 60?

    4:38 am on January 3, 2012 Permalink | Reply
    Tags: , senior life insurance,

    Healthy and Active Makes Life Insurance Affordable

    Gone are the days when life insurance over age 60 was an afterthought. For more people life insurance continues to be an important part of their financial plan.

    You’ve probably heard the phrase 60 is the new 40 – that’s because people are living longer, working longer, staying more active, having children later, caring for aging parents –all good reasons to have life insurance at this point in your life.

    Many life insurers understand the changes in the way we are aging and are taking this into consideration as they price life insurance for people over 60 and over 70.  So if you are healthy, still working, active – you may find that life insurance policy with underwriting is very affordable.

    For those with health conditions, a guarantee issue life insurance policy with a benefit value of $15,000 or $20,000 can be an important financial bridge for paying financial obligations on your behalf.

    Why consider life insurance if you are over 60 or over 70?

    1. Your investments have taken a hit

    The past five years have been tough on many financial portfolios.  That leaves a gap in what you or your spouse has available when one of you passes away. And with more people 65 and older  now having a mortgage and credit card bills, the proceeds of a life insurance policy can provide important financial support. There’s a one in five chance that at least one spouse in a 65-year-old-couple will live to age 95.  A life insurance policy can be important to maintaining the lifestyle of the surviving spouse.

    2.  You have financial obligations

    A mortgage, credit card debt, children still in college, assisting aging parents with their living costs?  These are all good reason to have a life insurance policy at this point in your life.  If you are providing care for an aging parent and something happens to you, the money from a life insurance policy can help provide the financial support to hire someone to do the work that you did. A
    small life insurance policy can also pay for your final expenses, assuring that your family does not face that financial burden.

    3. Leaving a Legacy

    Many of us would like to leave behind a little bit of financial assistance to a charity we care about or grandchildren who are still trying to get their footing.  A life insurance policy can be an easy way to direct your financial legacy.

    Times have changed and so has life insurance underwriting.  So if you are over 60 and considering life insurance, contact iQuote by Longevity Alliance to find out about the different life insurance options you can consider.  iQuote by Longevity Alliance has a choice of life insurance policies – term life insurance, permanent insurance, guarantee issue life insurance, and final
    expense insurance.  Call 1-800-352-9742 and speak with a life insurance advisor about your needs or request an iQuote and we’ll contact you by phone or email. No cost or obligation.

     

     
    • Donna A. Menner 8:26 pm on January 19, 2012 Permalink

      Many people thought they couldn’t get life insurance at this stage in their life, but now it is possible. People today may have home mortgages, paying off college loans, or debt from starting a business. Term life insurance can be very important, especially with companies dropping more benefits.

  • How Old is Old?

    7:44 am on December 31, 2011 Permalink | Reply
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    Celebrating Every Year

    Perceptions matter when it comes to age.  So how old is old?  Not surprisingly the younger you are, the younger old is.

    A recent survey found that the Millenials – those in ther 20s – say 62 is old!

    That’s not even Medicare eligible age yet!

    Baby boomers – a generation that started turning 65 in 2011 – say old age doesn’t start until 77 and the senior generation says you shouldn’t be considered old until you are 81.

    What all generations share is a desire to live a long live — all want to live into their 90s.

    “There’s no doubt that we’re living in an aging world.  What’s most interesting is that people from every generation want and expect to live well beyond the age they define as “old,” said Roger Baumgart, CEO of Home Instead Senior Care which conducted the survey.

    The improvements in medicine, health care, healthy living and exercise have all contributed to the ability of more people to live active and healthy long lives.

    That also raises the increased need for making sure that financial health is in order including making sure that your Medicare plan is the right coverage, that you have long term care insurance to help cover costs of care later in life and life insurance to help pay for final expenses or leave a charitable contribution.  An iQuote advisor can assist you with any of these insurance needs.  Simply call 1-800-352-9742.

    How old do you think “old” is?

     
    • Donna A. Menner 11:23 pm on January 11, 2012 Permalink

      Old is also a state of mind. My 89 year old mother recently said that she didn’t consider herself “old”. She said in her mind she still felt young.

      How old you feel has to do with how healthy you are. If you have a lot of arthritis for example, sore knees, etc. you will probably be feeling your age.

      The older generation didn’t usually exercise the way we do today, they believed all they needed to do was walk, work in their homes and yards and that was all the exercise they needed.

      Today there are programs like SilverSneakers and other exercise programs for people 55 and over that will help people feel younger as they age, helping them maintain balance and strength.

  • Medicare General Enrollment Begins Jan. 1

    1:56 pm on December 19, 2011 Permalink | Reply

    What?  More Medicare enrollment periods coming?  Not as big as the anneal enrollment period, there are two Medicare enrollment periods coming up that some of you will want to know about.

    For those new to Medicare, there is the general enrollment period.  If you didn’t sign up for Part A and/or Part B when you were first eligible, you can sign up between January 1 and March 31.  Your coverage will begin July 1.  You may have to pay a higher premium for late enrollment.

    Once you have Part A and Part B you should also consider whether you want a Medicare Supplement plan, a Medicare Advantage Plan or Medicare Part D prescription drug coverage.  iQuote by Longevity Alliance offers a choice of over 24 leading insurance carriers.

    The second Medicare period coming up is the “disenrollment period.”  If you are in a Medicare Advantage plan, you can leave your plan and switch back to Original Medicare (Part A and Part B).  You can also enroll in a Medicare stand along prescription drug plan.  You must do that before February 14.  During this time you can’t switch Medicare Advantage plans, all you can do is drop it.

    That’s a big decision so before you do that should speak with someone experienced in Medicare.  You might consider applying for a Medicare Supplement plan to cover costs Medicare does not cover.  But you will be subject to medical underwriting so before you change your plans, make sure that this coverage is available to you.

    If you want to enroll in a different Medicare Advantage plan you’ll have to wait until Oct. 15, 2012 when the next annual enrollment period begins.

    iQuote by Longevity Alliance helps Medicare beneficiaries find the right Medicare health plan to meet their needs.

     
  • What’s The Right Amount of Long Term Care Insurance?

    5:01 am on December 14, 2011 Permalink | Reply
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    Buying the right amount of insurance is key when long term care insurance.  But what is the optimal amount?  And what is the right amount given your budget?  There is a difference.   

    This article from Smart Money makes a great case for the “some is better than none’” approach to buying long term care insurance.  When you need the care, $50 or $100 per day can make a big difference in the quality of care  you receive and reducing the amount of financial stress your family goes through.  It can give your spouse a much needed respite during a long day of caregiving.

    Long Term Care Insurance Can Make a Difference

    At iQuote.com we often recommend that people begin by looking at a $100 per day policy, with a 90 day deductible (elimination period), 3% inflation and a three year term.  Why?  Because it is an easy base to work from so you can see how prices increase as you change the different variables.  And it is an amount that many people looking at long term care insurance can fit into their budget, especially if they are over 60.  What we don’t recommend is that you buy this type of policy if you don’t have at least $100,000 in assets and you are concerned about paying the premium costs as you age.  In either of those cases, you are likely to find that you will qualify for Medicaid services and long term care insurance is not a good fit.

    If you’ve got more financial resources, great.  Look at a richer policy that would cover the full cost of care in your state.  and if you have a family history of chronic conditions or Alzheimer’s more coverage is advisable if you can afford it.

    In long term care insurance some can be better than none.  So don’t dismiss it because of sticker shock.  Look at a policy that can fit your budget.  Your family will appreciate the help when the time comes to use it.

     

     
  • Last Day to Change Medicare Plans

    5:25 am on December 7, 2011 Permalink | Reply
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    It’s December 7 – the last day of open enrollment for Medicare beneficiaries who want to change plans for 2012.

    If you are considering a change to your existing Medicare Advantage or Medicare Part D plan, you better move quickly.  The Medicare open enrollment period ends at midnight.

    At this late date you may find online shopping for a Medicare plan is the quickest and easiest way to find and enroll in a new plan.

    iQuote.com by Longevity Alliance offers an online quoting tool for many of its most popular plans.  Simply go to the iQuote website   and click on the button – Compare Plans Now.  Simply input some basic information and your prescription drug information (if you are looking for a Part D drug plan or medicare Advantage plan with drug benefits).

    You’ll get quotes and you can click through to plan information.  Find the plan you like simply click the Enroll button and you’ll be taken to the insurance company’s site to enroll online.  Simple and easy way to change plans and still meet the deadline.

     
  • Longevity Alliance Reviews

    3:10 pm on December 6, 2011 Permalink | Reply
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    High Marks for Longevity Alliance Service

    We recently conducted a customer satisfaction survey of people who purchased Medicare health insurance (over 95% satisfied with the buying experience) and were so pleased with the responses, we wanted to share them with our readers.  We are committed to taking the confusion and stress out of shopping for a Medicare plan.  And there is nothing more satisfying than to hear from our customers that we are making a difference in their lives.

     Made my life easier in understanding Medicare and how it works. Glad to know that a company like yours exists as you do all the work.- Maria from San Rafael, CA

    You were knowledgeable, thorough, professional and quick. You followed through and made the entire application process easier and then followed up to make sure it all went through and was received by the company. And it did and was. And we have already recommended you to friends.- Allen from Tucson, AZ

    You helped me save money. Kudos to you!- Margaret from Jackson, TN

    Agent was very knowledgeable and got me a plan the same as I had with another company at a substantial saving on the monthly premium.- Joan from Myrtle Beach, SC

    The service I got from Longevity was wonderful. I have recommended you several times to others.- Ann from Shaw, MS

    Agent was responsive and knowledgeable. He asked the right questions, collected my information, and recommended an appropriate solution for my needs.- Bob from Prescott, AZ

    (The agent) was very helpful and extremely patient in helping me to wade through all the available options. He deserves kudos for obtaining both gap insurance and prescription insurance that I could afford and that still met my needs.- Carolyn from Chesterbrook, PA

    In this day and age, it is difficult to know if you have made a good or right choice for yourself, having to do a lot of research and dealing with companies seeking an advantage or will give you the run around. The experience I had with your company, when signing my mother up for Medicare supplemental coverage, was to say the least a pleasant surprise.- Elvira from Forest Hill, MD

    I’m more than pleased with the service of both (the agent) and Longevity and am convinced it saved me both time and money. I’ve returned once already and have every intention of doing so again…- Margaret from Fairfield, OH

     I am very pleased with the supplement plan that I was able to get for my mother. The agent I worked with was very helpful. He explained everything to me so that I would understand. He was very understanding with my mother’s needs and her budget that she has to work with. I would highly recommend this company and the agent.- Bernadine from Jasper, IN

    I was skeptical when I first talked to your representative. But I soon realized he was only trying to help me. And he did. I was very pleased with the result. The Company he recommended has performed well for us and we are saving quite a bit of money. Absolutely no complaints.- Clayton from Topeka, KS

    (Agent) went above and beyond. He always returned my calls and always had the answers to my questions. You folks are great.- Donna from West Chester, PA

    I am totally amazed at the clarity of the explanation of all the plans that was given to me on the phone. The details had been compared, condensed, and then spoken. Very helpful.- Patricia from Glendale, OR

    My agent was extremely knowledgeable with the supplement plans and the options I was given. He made the complex issues and confusing choices understandable.- Sara from Gilbert, AZ

    Agent was excellent! Walked me through it. Delivered on what he’d say he would do.- Kathryn from Elberta, AL

    I always received immediate responses to emails and phone calls. I will definitely recommend your company to others. I plan to change my mother’s supplementary through your company at the end of the year.- Elsa from Thaxton, VA

    (The agent) was very helpful, he educated me to the whole business and steered me to what I have felt is the best for us at this time. I also feel very confident that if I have questions he and Longevity Alliance will be able to continue to advise me.- Raymond from Dalton, PA

    You can find out more about Longevity Alliance. at our website http://www.iquote.com.

     
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