elderly man wearing eyeglasses and magnifying glass sitting at work bench tinkering with tools

What Medicare Supplemental Insurance Can Do That Medicare Can Not

Getting older is never any fun passed the age of 21. But oftentimes with age comes maturity, experience, and perspective. And by the time you find yourself approaching the golden age of 65, you’re probably able to look back at your earlier years and note a few things you wish you had done differently—drink less alcohol, quit smoking earlier, save more money and spend it wiser; invest more time with the people you love, and in taking care of yourself.

Don’t put taking good care of yourself on the backburner anymore.

elderly man surrounded by happy family blowing out birthday candlesMaking Sure Your “Golden Years” Are Golden

Throughout our lives, there are a number of birthday milestones that stand out— one, 13, 16, 18, 21, 40, 65, and if you’re lucky, many more beyond that. Each of these years has their own reasons for being special, but few birthdays carry the same significance that turning 65 does.

Beginning three months prior to your 65th birthday, you become eligible for a seven-month open enrollment period where you can enroll in Medicare benefits. If you miss your initial open enrollment period, you will still become eligible again during the general open enrollment period which begins January 1st and ends March 31st, with coverage beginning July 1st.

According to a Money Crashers article written by Michael Lewis, “There is a direct correlation between healthcare costs and age: The older you are, the more likely it is that you will need medical care. The elderly are more apt to suffer chronic conditions that require treatment for years, and accidents are more common, often requiring complicated treatment. As a consequence of the high healthcare costs for older Americans, private insurers prior to 1965 either did not offer health insurance to the elderly, or charged such high premiums that insurance was not affordable. Medicare was created to solve a human welfare crisis that threatened to unravel the social and economic fabric of the nation.”

The truth is, that while highly beneficial, Medicare Part A and Part B may not necessarily cover everything you may need as you get older. A prime example of this is the often-cited fact that Medicare does not cover basic eye health, most forms of dental care, and hearing aids. And while many may be under the impression that they won’t need something like a Long-Term Care Insurance policy because Medicare will cover the costs, unfortunately, it won’t because while Medicare Part A will cover care in a nursing home, it will not cover custodial care meaning, the activities of daily living such as getting dressed, bathing, eating, etc).

Investing In Your Health With Medicare Supplemental Insurance

A Medicare Supplemental Insurance policy can help you fill in the gaps left behind between the services and care that you need and the services and care that Medicare is willing to pay for.

If you or a loved one is approaching the age of 65, it may be wise to discuss with your doctor if all of your medical needs will be covered by Medicare. Oftentimes, people assume that Medicare will cover them no matter what and ultimately find out otherwise. In order to avoid any surprises, it is always wise to consult with your primary care physician about your individual health needs now and any that you may be at risk of developing in the future.

For more information regarding Medicare Supplemental Insurance (Medigap) and what it can do for you or someone you love, please visit your association page.

young biracial father with daughter on his back smiling with arms outspread

When To Reassess Your Life Insurance Needs

When it comes to Life Insurance, there is no one-size-fits-all. Like Health Insurance, your desired coverage amount can change depending on your unique circumstances. What works for you now, may not work for you five to 10 years from now, and as your life changes, so do your needs.

No One Can Predict The Future

While Life Insurance may be the furthest thing from the minds of most 20-year-olds, those in their 30’s and 40’s may be beginning to take a closer look at the benefits of Life Insurance and just how it could help them.

So when is the right time to start thinking about Life Insurance, if it’s right for you, or if you have enough coverage?

The truth? There is no right answer. There is no single answer that can be applied to everyone because everyone is different, has different needs, and go through different life stages at different times. So, at what point in their lives do the majority of people tend to start considering, or re-considering, their Life Insurance coverage options?

Read More
young male with beard professional in an office wearing glasses working and focusing on laptop

Blue Blocker Lenses: Are They Worth The Hype?

As our bodies continue to age, it is understandable that we begin to experience more changes. And whether we like it or not, doctors and other medical specialists are here to help us make sure that our bodies are operating at the very best levels that they can and when they are not, doctors are the people we visit to find out why.

For example, declining eyesight is one of the most common and most easily diagnosable issues our bodies may encounter throughout our lives. Worsening eyesight is often associated with getting older and while there are a variety of reasons and levels of severity, ultimately poor eyesight is typically very treatable except in certain circumstances.

As a general rule of thumb, it is suggested that you should visit the eye doctor once every one to two years. Even if you don’t feel your eyesight has changed, an optometrist will be able to know for sure and make any adjustments to your eye prescription as necessary.

Read More
Members Health Plan MHP Logo

NEW Members Health Plan Launches on Texas Bar Private Insurance Exchange

Member Benefits, the administrator of the Texas Bar Private Insurance Exchange, introduces long-awaited Members Health Plan (MHP) for Texas law firms.

Austin, TX— After years of building member participation in the Texas Bar Private Insurance Exchange, administrator Member Benefits is introducing a new health plan option for Texas law firms. Different than traditional group health options, the Members Health Plan (MHP) is a multiple employer self-funded health benefits trust exclusively for Lonestar state law firms and their employees. Through the MHP, participating law firms will join together to pool their risk as one large multiple-employer group.

This plan aims to not just lower the cost of healthcare benefits but also reduce administrative fees and grant access to a wider variety of potential health plan benefits.

Member Benefits President and CEO Earl “Chip” Trefry Jr., CLU had this to say about the launch: “This has been over two years in the making and we’re all very excited to see it come to fruition.”

Read More
young African American lawyer with disabilities in wheelchair smiling thoughtfully out the window

Lawyers With Disabilities Battle More Than We Think

Think about it. When was the last time you saw a lawyer with a disability? And no, Netflix’s legally-blind Daredevil “Matt Murdock,” doesn’t count.

For years it has been touted that prior to the age of retirement, one out of every four working-age Americans will become diagnosed with a Long-Term Disability at some point in their career. So, if that is true, how is it that there are so few lawyers with disabilities?

Not All Disabilities Are Visible

When we initially think of a disability, our mind immediately tends to gravitate towards those in wheelchairs or walking with a cane, but there are a number of disabilities that are invisible to the eye but can be every bit as difficult to manage.

According to the 1994-1995 Survey of Income and Program Participation (SIPP) roughly 1 out of every 10 Americans is recorded as having a severe disability— in today’s numbers, that translates to 32.57 million people. In the nineties it was found that out of those 1 in 10 Americans with disabilities over 74% of them did not use any assistive devices making their disability invisible to strangers.

Read More
Woman holding up map pointing to destination while in passenger seat of traveling car along the coast

Top 2018 Travel Destinations For The Family

Summer is just around the corner and there is no time like the present to start planning your annual family vacation. After a grueling winter that just didn’t seem to want to go away, we are beginning to see the light at the end of the tunnel with warmer days, less rain, and the winding down of the school year. Yes, summer is the perfect time of year to get in some hard-won quality time with the family.

It may come as a surprise that many of this year’s hottest travel destinations are also kid-friendly. But where should you go?

Read More
mother with breast cancer smiling and hugging her young daughter

What You Should Know: Home Breast Cancer DNA Tests

In March of this year, ancestry DNA testing giant, 23andMe, announced that they would begin testing user DNA for Breast Cancer genes, more specifically identified as the BRCA1 and BRCA2 genes. While technically able to test for these genes for years, it wasn’t until this past March that the FDA officially signed off on it, therefore, making the 23andMe at-home DNA test, the first FDA-approved direct-to-consumer test to evaluate one’s potential risk for cancer.

What Can Your DNA Reveal

The test is offered as an add-on to 23andMe’s standard ancestry report for a total of $199 and is delivered alongside a variety of other reports designed to tell you if you possess certain genetic markers which may suggest a predisposition to things such as:

Read More
man diagnosed with long term disability contemplating future

5 Most Common Long-Term Disability Claims

According to the Council for Disability Awareness, it is estimated that one out of every four Americans will find themselves diagnosed with a disability prior to retiring at the age of 65. Additional studies show that less than half of individuals and families have enough money saved to sustain their living expenses for even one month before feeling the financial strain— illustrating that a long-term disability diagnosis can not just be devastating for the individual but also financially devastating for their entire family.

In short, no one plans to become disabled. And yet, it can happen to anyone at any time and the chances of it happening only increase with age, lifestyle choices, and even the type of work we do on a daily basis.

Popular Long-Term Disability Claims

But while the majority of people may imagine someone who struggles with a long-term disability as wheelchair bound, the fact of the matter is that long-term disabilities can manifest in a host of different ways— some visible, some not.

Read More
1 2 3 15