Should I get a Medicare Supplement Plan from an Independent Agent vs. a Captive Agent

November 13th, 2016

Are you receiving information in your mail regarding Medicare Supplement Plans lately? Hi, I’m Mitch Winstead from Allstar Senior Benefits.   Call us today! We offer free advice and no obligations.  Our toll-free number is 866-598-8170 or 910-538-4547. Out email address is here at this link Mitch@allstarseniorbenefits.com

Have you been pondering over your Medicare options and want to cover your health costs that Medicare does not cover?

The original Medicare does not cover your full health care costs and you generally have to pay a significant share of your medical expenses through your savings. Deductibles, copayments, coinsurance, outpatient services, and other healthcare services may leave you exposed to unexpected out-of-pocket costs that are related to your healthcare needs. This is where Medicare Supplement insurance comes into play. It can help you pay for your healthcare costs that original Medicare does not cover.

Medicare supplements are sold by two types of agents in the US:

  1. Captive or Exclusive Agents and
  2. Independent Agents.

Captive Agents

Captive agents, commonly known as exclusive agents, are contracted by insurance companies to sell policies on behalf or for a single insurance company. They must be licensed agents, each having a limited scope as mentioned in their licenses. A captive agent is generally provided with an office by the insurance company and has an administrative staff to process and carry out the paperwork, a significant bonus, ongoing training, and other motivational programs.

The captive agent sells policies for only one company and is legally authorized to sell or “pitch” for that one company. Most of the insurance companies that hire captive agents place restrictions. Captive agents typically place their focus on salesmanship rather than what benefits the customer or the type of healthcare insurance would fit their needs and budget. Captive agents are provided through sales training that teaches them to explain insurance policies and sell them to as many customers as they can.

When potential consumers respond to Medicare insurance advertisement, the insurance company directs them to their captive sales agent in the area closest to each consumer. Insurance companies generally provide extensive lists of prospects to their captive agents. Majority of the captive agents are independent contractors and earn a commission based on the sales they make.

If you are are planning to buy a Medicare Supplement plan from a captive agent, he will provide you with all the information you need on the lines of insurance his contracting company is providing. He will guide you and inform you of the detailed plan and coverage costs covered under the insurance plan and all the health care benefits and coverage you will get when you buy a Medicare supplement plan.

Independent Agents

Independent agents are eligible to sell policies from different insurance companies. Independent agents must also be licensed agents in the state ...Read More


Learn about the differences of Medicare Parts : Part A, Part B, Part C and Part D

April 4th, 2016

Medicare Parts : Part A

  • There are no premiums
  • There are deductibles and copayments
  • Deductible for 2016 is $1,288
  • Coinsurance for hospital days 61-90 ($322 in 2016)
  • Coinsurance for each day 91-150 ($644 in 2016)
  • Cost of 365 extra hospital days in your lifetime, once you’ve used all Medicare hospital benefits
  • Hospice care coinsurance or copayment

 

Part B

  • Requires monthly premium,
  • All coinsurance and copayment amounts after you meet the $166 (in 2016) yearly deductible for Medicare Parts B
  • 100% of coinsurance for Part B covered preventive services
  • The first three pints of blood
  • Covers: Physician Services, Outpatient Services, Durable Medical Equipment

 

Part C

  • Medicare Advantage Plans (PPO’s, HMO’s)
  • Combines Part A and B
  • Provided by Private Companies (approved by CMS)
  • Costs and Coverage’s vary by Company
  • Plans are Approved by CMS

 

Part D

  • Prescription Drug Coverage
  • Separate Premium
  • May be included in Medicare Advantage Plans (typically HMO’s and PPO’s)

If you have any questions, please contact Mitch Winstead   Toll-Free 866-598-8170 or 910-538-4547. Our advice is free and you have no obligations.

Our website is https://www.allstarseniorbenefits.com     Look us up on Facebook at https://www.facebook.com/medsuppguru

You may also email us at mitch@allstarseniorbenefits.com

If you would like a quote with no obligations please click on our quote link https://allstarseniorbenefits.com/get-a-quote/#.W6PkD2hKhPY

 

 

 

 

 

 

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Learn important comparisons between Medigap Supplement Plans A-N

April 4th, 2016

MedigapAll Star Senior

Medigap Policies

  • Medigap Plan A
  • Medigap Plan B
  • Basic Benefits
  • Medicare Part A Hospital Deductible

 

Medigap Plan F*

  • Basic Benefits
  • Medicare Part A Hospital Deductible
  • Skilled Nursing-Home Coinsurance
  • Medicare Part B Deductible
  • Medicare Part B Excess Charges
  • Pays 100 percent of the difference between your doctor’s charge and the approved amount, if your doctor does not accept assignment
  • Foreign Travel Emergency

*Plan F also has a “high-deductible” option. In 2016, if you choose the high-deductible option for Medigap plan F, you will first have to pay $2,180 in health care expenses before the plan pays anything. This amount can go up every year. High-deductible policies have lower premiums, but if you get sick, your costs will be higher.

 

Medigap Plan G

  • Basic Benefits
  • Medicare Part A Hospital Deductible
  • Skilled Nursing-Home Coinsurance
  • Medicare Part B Excess Charges
  • Pays 100 percent of the difference between your doctor’s charge and the Medicare-approved amount, if your doctor does not accept assignment
  • Foreign Travel Emergency

 

Medigap Plan K

  • Basic Benefits
  • 100 percent of Part A coinsurance plus coverage for 365 days after Medicare benefits end
  • 50 percent of hospice cost-sharing
  • 50 percent of Medicare-eligible expenses for the first three pints of blood
  • 50 percent Part B coinsurance after you meet the yearly deductible for Medicare Part B, but 100 percent coinsurance for Part B preventive services
  • 50 percent of Skilled Nursing-Home Coinsurance
  • 50 percent of  Medicare Part A Hospital Deductible
  • Annual Out-of-Pocket Limit of $ 4,940 in 2015

 

Medigap Plan L

  • Basic Benefits
  • 100 percent of Part A coinsurance plus coverage for 365 days after Medicare benefits end
  • 75 percent of hospice cost-sharing
  • 75 percent of Medicare-eligible expenses for the first three pints of blood
  • 75 percent Part B Coinsurance (after you meet the yearly deductible for Medicare Part B, but 100 percent coinsurance for Part B preventive services)
  • 75 percent of Skilled Nursing-Home Coinsurance
  • 75 percent of Medicare Part A Hospital Deductible
  • Annual Out-of-Pocket Limit of $2,470 in 2015

 

Medigap Plan M

  • Basic Benefits
  • Medicare Part A Hospital Deductible 50%
  • Skilled Nursing-Home Coinsurance 100%
  • Medicare Part B Deductible 100%
  • Blood first 3 pints 100%
  • Foreign Travel Emergency 80%

 

Medigap Plan N

  • Basic Benefits
  • Medicare Part A Hospital Deductible
  • Skilled Nursing-Home Coinsurance
  • Medicare Part B Deductible
  • Medicare Part B Excess Charges (Pays 100 percent of the difference between your doctor’s charge and the Medicare-approved amount, if your doctor does not accept assignment)
  • Foreign Travel Emergency
    • $20 Office Visit Copay
    • $50 Emergency Room Copay (waived if admitted)
  • Hi, I’m Mitch Winstead from Allstar Senior Benefits.  We have been helping people for over 36 years.  If you have any questions, our toll-free number is 866-598-8170 or 910-538-4547.
  • Our website is www.allstarseniorbenefits.com  Our facebook page is https://www.facebook.com/medsuppguru  Or you can email us at- mitch@allstarseniorbenefits.com If you would like a personalized quote please fill out the quote form on the front of the page by clicking this link  https://allstarseniorbenefits.com/get-a-quote/#.W6PkD2hKhPYAllstar Senior Benefits is an experienced brokerage

 

 

 

 

 

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Promotional Medicare Supplement video

February 25th, 2016

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August 8th, 2013

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