Nevada Benefits

• Do I Need a Medicare Supplemental Policy?
• Medicare Supplemental Insurance
• Long Term Care Insurance
• Final Expense Life Insurance

Most people choose to get a Medicare (or Medigap) supplement policy because regular Medicare and/or the Original Medicare plan has gaps in coverage. Therefore, when asking; Do I need Medicare supplements? You first need to determine what your health care needs are and what they will be in the future. These added benefits can aid greatly in the type of care you will be able to receive.
You may need some of the benefits that you can get with a Medicare (or Medigap) supplement, like having to go to a skilled nursing facility for more than 20 days after a hospital stay. In this instance, you have to pay the Medicare Part A deductible each benefit period, and if you just have Medicare Part B, each year you must pay the Medicare Part B deductible before Medicare starts to pay their share. If you need this coverage, the Medigap policy would pay this amount each year. This is definitely a good answer to your question of: Do I need Medicare Supplemental Insurance?

More Medigap Benefits

In addition to the above, when getting the answer to: Do I need Medicare supplements? You should know some of the extra benefits you can receive with a Medigap plan: There is Medicare Part B Excess Charge, which is the difference between your doctor's actual charge and Medicare's approved amount. If your doctor does not accept assignment, Plans F, I, and J pay all of the excess charges. Plan G pays 80% of the excess charges. Also, you can get added at-home recovery benefits - The cost of at-home help with daily activities like bathing and dressing (if it is already a Medicare coverage) up to eight weeks after skilled nursing care is no longer needed.
One of the most important additional benefits you can receive is additional prescription drug coverage. Some plans pay 50% of the drug costs that Medicare doesn't cover (after you pay an annual deductible). You can also get added preventive care coverage that could include serum cholesterol screening, hearing tests and thyroid function tests. Again, determining what exactly the type of coverage you and your family needs, will help you answer the question of - Do I need Medicare supplements?

Insurance Offerings

Medicare Supplemental Plans
Medicare has two parts: Part A (Hospital Insurance) and Part B (Medical Insurance). However, Medicare does not pay for all hospital and medical bills you incur. There are strict limits regarding what is and isn't covered.
Medicare Part A covers some costs related to hospital stays and is available for people who are 65 years old and over. Medicare Part B covers some costs related to doctor visits, tests, supplies, and outpatient services. Both Medicare Parts A and B cover only those services that are considered "medically necessary" and only those charges that are considered "reasonable."
It should come as no surprise that there are often major gaps between the hospital and medical bills you incur and what Medicare actually pays for.   This is where your Medicare Supplemental Insurance helps bridge those gaps.

Long Term Care Insurance
Long Term Care is Insurance that includes medical and non-medical care to people who have a chronic illness or disability. Long-term care helps meet health or personal needs. Most long-term care is to assist people with support services such as activities of daily living like dressing, bathing, and using the bathroom. Long-term care can be
provided at home, in the community, in assisted living or in nursing homes. It is important to remember that you may need long-term care at any age.
You may never need long-term care. This year, about seven million men and women over the age of 65 will need long-term care. By 2005, the number will increase to nine million. By 2020, 12 million older Americans will need long-term care. Most will be cared for at home; family and friends are the sole caregivers for 70 percent of the elderly. A study by the U.S. Department of Health and Human Services says that people who reach age 65 will likely have a 40 percent chance of entering a nursing home. About 10 percent of the people who enter a nursing home will stay there five years or more.

• Funeral expenses that commonly range from $5,000 to $10,000 and can create a significant burden on loved ones.
• Settling of debts such as credit card balances, car loans, and mortgages.
• Legal costs associated with probate, taxes, and other estate matters.
• Completion of schooling for children whose higher education could otherwise be interrupted due to a lack of funds.