The average funeral cost is between 5,000 and $15,000. This includes viewing and burial, basic service fees, and transporting remains to a funeral home,  casket, embalming, preparation. The average cost of a cremation with a funeral is 3,000 to $5,000. There are a few places that are cheaper. These costs do not include a cemetery, monument marker, or other things like flowers or arrangements.  

Since the 1980s funeral costs have been rising. It is not unusual to see the average cost of a funeral to cost around $9,000-$9500. A funeral casket can cost thousands of dollars depending on the style and material used. Urns can be costly also.

If you want to pre-plan a funeral, it is a good idea. It can help reduce the cost and maybe some of the emotions that it takes to be involved with a funeral.  

Arranging a funeral is difficult once the costs are calculated.  Funeral planning is a business and sometimes even the smallest of things can increase the cost dramatically. You need to budget if possible.

If you know the costs of a funeral ahead of time, you can decide what items are in the budget and what items are not in.  

I hope an article like this will help you discover what the actual cost of a funeral is and teach you to shop around to help your budget.  This article can help you also on what final expense insurance is and how much does final expense insurance cost.

 

How to Shop and Save Money

Try not to overspend.  It’s an emotional time when planning and purchase funeral items.

Remember this is a business just like anything else. 

Because funerals are emotional this can cloud your judgment

The majority of families have no experience in funeral planning.

Some funeral business’ may take advantage of the situation

Sometimes you don’t have time to think about decisions when they are more pressing

 

Today Funerals can easily exceed $9,000- $15,000

Here is an analogy to keep in mind.  When you shop for a car. Do you drive to the nearest dealership and buy the first car you see?  Do you pay the full sticker price without hesitation?

This concept could apply to anything that we buy.  Most of us do our due diligence or do research Maybe look at literature or consult someone before buying a high ticket item.  Even the small purchases we make like buying a refrigerator or washer or buying a new computer has most of us not wanting to overpay or even get ripped off.  

Funerals are no different. You should shop the market and the price.  When shopping for an urn, casket or funeral items, we should not pay the full price or sticker price.

 

There are ways to save money

 

With us being in a digital age and having access to the internet, we can shop around a lot easier.  We can check competitors’ prices and even inventory of what they offer. Here is a tip-we don’t have to pay full “sticker” prices even for funeral items.  Negotiate, shop around. Be aware of the funeral rule. The Funeral Rule, enforced by the Federal Trade Commission (FTC), makes it possible for you to choose only those goods and services you want or need and to pay only for those you select, whether you are making arrangements when a death occurs or in advance. The Rule allows you to compare prices among funeral homes and makes it possible for you to select the funeral arrangements you want at the home you use. (The Rule does not apply to third-party sellers, such as casket and monument dealers, or to cemeteries that lack an on-site funeral home.)

Your Rights Under the Funeral Rule

The Funeral Rule gives you the right to:

• Buy only the funeral arrangements you want. You have the right to buy separate goods (such as caskets) and services (such as embalming or a memorial service). You do not have to accept a package that may include items you do not want.
• Get price information on the telephone. Funeral directors must give you price information on the telephone if you ask for it. You don’t have to give them your name, address, or telephone number first. Although they are not required to do so, many funeral homes mail their price lists, and some post them online.
• Get a written, itemized price list when you visit a funeral home. The funeral home must give you a General Price List (GPL) that is yours to keep. It lists all the items and services the home offers and the cost of each one.
• See a written casket price list before you see the actual caskets. Sometimes, detailed casket price information is included on the funeral home’s GPL. More often, though, it’s provided on a separate casket price list. Get the price information before you see the caskets so that you can ask about lower-priced products that may not be on display.
• See a written outer burial container price list. Outer burial containers are not required by state law anywhere in the U.S., but many cemeteries require them to prevent the grave from caving in. If the funeral home sells containers but doesn’t list their prices on the GPL, you have the right to look at a separate container price list before you see the containers. If you don’t see the lower-priced containers listed, ask about them.
• Receive a written statement after you decide what you want and before you pay. It should show exactly what you are buying and the cost of each item. The funeral home must give you a statement listing every good and service you have selected, the price of each, and the total cost immediately after you make the arrangements.
• Get an explanation in the written statement from the funeral home that describes any legal cemetery or crematory requirement that requires you to buy any funeral goods or services.
• Use an “alternative container” instead of a casket for cremation. No state or local law requires the use of a casket for cremation. A funeral home that offers cremations must tell you that alternative containers are available, and must make them available. They might be made of unfinished wood, pressed wood, fiberboard, or cardboard.  
• Provide the funeral home with a casket or urn you buy elsewhere. The funeral provider cannot refuse to handle a casket or urn you bought online, at a local casket store, or somewhere else — or charge you a fee to do it. The funeral home cannot require you to be there when the casket or urn is delivered to them.
• Make funeral arrangements without embalming. No state law requires routine embalming for every death. Some states require embalming or refrigeration if the body is not buried or cremated within a certain time; some states don’t require it at all. In most cases, refrigeration is an acceptable alternative. In addition, you may choose services like direct cremation and immediate burial, which don’t require any form of preservation. Many funeral homes have a policy requiring embalming if the body is to be publicly viewed, but this is not required by law in most states. Ask if the funeral home offers private family viewing without embalming. If some form of preservation is a practical necessity, ask the funeral home if refrigeration is available.  * Reference FTC

When I was in the process of having my Mom cremated, I called around for prices on the cremation process and got the best price.  When it came to buying urns, I went to Amazon to buy them. I got them cheaper through Amazon.  

When I was a physical therapist assistant, I did home health treatments and I walked into a new patient’s home one day and she had her late husband’s body ready for viewing in their living room.  It might have looked odd but that’s the way some families have their visitation. And that is another way to save money.  

 

I went to a church one time where the Pastor and his wife bought a plot at a graveyard. The funny thing is- that they would buy lunch and eat their lunch at their plots.  They jokingly said that we might as well enjoy our property while we have a chance!

 

 

 

 

 

Cremation costs

As mentioned before, the first time I called around for prices was for the cremation of my Mother.  When I called or shopped around the prices varied. I got anywhere from $3000 to as little as $1500.  

 

Here is a list of funeral items :

 

Metal casket                                                                             $2,400

Hearse                                                                                      $325

Embalming                                                                                $735

Funeral home’s service fees                                                     $2,100

Facilities and staff to manage a viewing                                   $500

Transporting remains to the funeral home                                $325

Preparing the body such as makeup and hairstyling                 $260

Facilities and staff to manage a funeral ceremony                    $500

Basic memorial printed package                                                $150

Service car                                                                                 $150

The median cost of a funeral with a viewing and burial      $7,300

Cost with Vault                                                                         $8,800

 

Some cemeteries will require a burial vault of a concrete grave box so the ground will not buckle over the casket.  A vault is reinforced to preserve the remains from insect activity or from groundwater. You should carefully keep this in mind when calculating funeral costs.

 

Funeral Home

Most funeral homes May charge what is called a basic Services fee which includes services that are common to all funerals regardless of the specific Arrangement most of these fees average around 2,000 to 2500.

The basic Services fee may include painting copies of the death certificate, securing any permits that may be needed coordinating the arrangements, and children The Remains. The fee will not include any optional services or products such as caskets.

 

 When choosing which funeral home to use it’s important to understand all your options. I would suggest contacting several funeral homes I can provide you a range of prices for the services available in your area most funeral homes are required to give you general pricing information over the phone for any services that you may be interested in.

 

Burial Service vs Cremation

 

The average cost of a cremation ranges from a thousand dollars depending on your state and services chosen. A  cremation cost almost as much as a funeral because of the various fees paid to the funeral home.

 

 An average cost of burial can cost up to $9,500 or more and depend on the smaller items chosen such as flowers, transportation, headstone, etc. While caskets and cost several thousand dollars burial items such as Grave liners and headstones can have thousands of dollars depending on the material used.

 

Embalming

Involving averages around 500 to $700 and usually cost no more than $1,000 embalming is always required in depends on whether or not the body is buried or cremated and how quickly the service takes place after the deceased’s death.  Refrigeration is often an alternative to embalming, but even refrigeration can cost hundreds of dollars.

Flowers

If you decide that you want a flower arrangement usually cost $500 to $700 to give a  beautiful display. Flowers are often an easy way for family members to save on funeral costs some families accept flowers as a way to pay respects to the deceased. Many funeral homes have local florists that can offer flower packages as a part of the funeral bill you may want to check several florists in the area to see what discounts are available. 

Wreaths

Wreaths are usually placed around the casket and typically cost approximately $100-$200  Wreaths are displayed across the casket itself and vary in cost and size. A reasonably sized wreath for a casket will probably cost $100-$200 depending on what florist you do business with. And what size the display is.

Funeral Plot

A lot of people do not realize that the cost of a plot is usually separate from funeral homes and cemeteries.

An average plot my cost between $1000-$4000 but large areas such as Chicago and Los Angeles may cost more. Believe it or not, there is a fee to open and close the grave that may cost as much as $1000.

If you are Veteran like I am, you may want to check with the Veterans  Administration for burial allowances. Their website is http://www.benefits.gov/benefits/factsheets/burials/burial.pdf  The VA reimburses the costs of any child, spouse or parent of an honorably discharged veteran. This includes the cost related to transport the remains. You will probably be charged if there are any additional funeral costs for flowers, obituary notices, and family transportation. There are costs associated with opening the ground and placing the casket and covering the plot. You may want to ask if there are charges to maintain the gravesite. 

Headstone or Gravemarker

Upright headstones stand up at the top of the grave and may cost $2000,-$5000 depending on the design.  Most funeral homes will give you a price on a headstone or grave marker, however, you can also buy them from third-party providers and this may save you hundreds of dollars. The price may depend on the style and type of material you choose.

Casket

If you are opting for a traditional funeral, you will need to purchase a casket.  A price for casket costs between 2,000 and $5000. Caskets can cost upward to 10,000.  The price will depend on material, design, and style. You may pay less in buying a wood casket vs. a metal casket.  You can save money by purchasing a casket from Amazon or another provider. This can save you money. 

Insurance costs for a funeral

The average cost of a funeral is approximately $9500   If you considering a cremation, this service can also cost a few thousands of dollars also. The federal government can help but not a lot. They can pay $255.  However, you must qualify. To help save or be prepared for a funeral, there is final expense life insurance. This sometimes called burial insurance. It is best not to leave your family with a financial burden in regards to burying someone. Burial insurance premiums are at an all-time low.  Even if you purchase a policy that can cover half of your burial cost, you would still ease the burden on your family or friends.

Life insurance Covers Funeral Costs

A life insurance policy can be used to help cover funeral costs.  This is the main reason why responsible people purchase life insurance. Again this is also called burial insurance and final expense insurance.  This type of insurance is usually purchased by senior citizens. This goes without saying-the younger you are, the cheaper your premiums will be.  A burial insurance policy is also called whole life. It builds cash value. A burial insurance policy can also coverer a terminal illness. If you get sick, you can use the cash value of your policy to help pay for medical bills. 

At https://www.allstarseniorbenefits.com and our partnership with http://www.advancedmutualgroup.com, we have “A” rated companies such as AIG, Mutual of Omaha, Prosperity Life, Royal Neighbors, and Sentinel Security.

Choose us, we have over 20 years of experience and have helped thousands of clients purchase burial insurance. We are specialists in helping people on a budget. Final expense or burial insurance pays out first dollars to your beneficiary with no taxes.  Rates never increase and benefits never decrease.

Call us today for a quote with no obligation  Toll-free 866-598-8170. Our email address is mitch@allstarseniorbenefits.com.  

Can I Pre-Pay my Funeral Costs?

 Purchasing final expense insurance is a great way to make sure your funeral is paid for.  People can set aside money in order to pay for your life insurance premiums. Some people visit a funeral home and buy pre-need items such as caskets a plot, flowers, etc. Final expense insurance can be a cheaper and easier way to help ease this burden. There are some qualifications that people have to meet based on their health. However, anyone and everyone can get a final expense policy. If someone has health problems their premiums may be a little higher.  This is great news because if you have a terminal illness or a health condition that is of a serious nature, for example, congestive heart failure, you can still get coverage. Since most funerals cost between$5000-15,000, you can get a policy for $10,000 to cover your burial expenses. This can help cover for family needs, travel unpaid bills and medical expenses, If you would like a quote with no obligations, please call Allstar Senior Benefits toll-free at 866-598-8170 or go to our website at www.allstarseniorbenefits.com and complete the quote form. 

How Much Does an Average Funeral Cost?

After attending funerals and having my Mom cremated recently, I have firsthand knowledge of costs for services.  These costs will vary by each state.

Cost per category

Professional Services are $1,100 to $1,500, Cremation from $200 to $1500, Embalming from $350 to $900, Hearse from $375 to $500, Refrigeration from $75 to $150 and Opening and Closing from $1000 to $2100. 

Be Prepared for Funeral Costs

When you lose a loved one or friend, needless to say, it is an emotional experience. Grief can take its toll. It is not a one size fits all emotion.  Stress can set in quickly. Decisions can feel like they are magnified. Some funeral homes can make things worse by recommending unnecessary expenses or services.  Families may feel pressured by decisions and items not needed and they wind up overspending. It is much better to already have a plan in place. There are organizations that can help you such as the Funeral Consumers Alliance https://funerals.org  This type of organization can help people not to overspend.  It is better to have a plan in place such as a traditional burial or cremation, type of serc=vie private or public, One person I knew had a casket service right in their living room.  It is best to know the details you or someone wishes in advance. There are several types of services that you may not think of such as a low income or low-cost funeral service. This means it will be a direct burial when the body is not embalmed and there is no visitation.  A horse and carriage funeral. Some choose a black or white horse and a decorated carriage.

There are military funerals the person who died was a veteran and was actively serving or retired, benefits are there to help with costs and benefits.  Also, there is a “green” funeral. Tahes funerals are eco-friendly. The caskets can be biodegradable and are much cheaper in price. Thre is a Green Burial Council at http://greenburialcouncil.org/homeplan-for-green-burial/certified-products  This service can help you find a vendor for products and final arrangements.

Main Questions you Should Ask your Funeral Provider

You may want to find out if the funeral home is independently owned or owned by a corporation. You should compare prices.  Many corporate funeral homes are priced higher than independent funeral homes. Keep in mind bout purchasing packages and services.  Remember the funeral rule. Check this link out by the FTC Federal Trade Commission at this link https://www.consumer.ftc.gov/articles/0070-shopping-funeral-services. You don’t have to accept a package that may include items you don’t want.

Here are some questions you should ask:

What are my payments options?  Do you work with insurance companies?

Are you familiar with burial insurance companies?

What are my options as far as viewing, cremation, embalming and type of memorial services are offered? 

What are the prices for caskets and urns and are there any missing items that are not on the list? 

Is there a general price list?

Is There a Tax Deduction for Funerals?

For the most part no.  Most individuals will not qualify to claim a tax deduction for the expenses of a funeral? It may be possible for the estate to deduct expenses for a funeral.

Am I Legally Responsible for Funeral Costs?

After just going through this with my Mom, the person designated to be the Executor of the will to plan the funeral and make sure it is paid.  This does not mean the executor can get help from families or friends. 

Doesn’t Social Security Pay for Funeral Costs?

Social Security only pays $255. You must be eligible to receive benefits. Also, Medicare does not pay for a funeral since it’s not a health expense.

How Much Does Shipping Cost for a Funeral?

Usually shipping a body is around $2000 or more This may come into play when a person dies overseas on vacation or business.  

Can I get Help Paying for My Funeral?

I guess you could?  People may give you some charity or raise money for a funeral or use Go Fund Me.  This is the reason why you should not want to plan or purchase burial insurance.  I may sound like a salesman here but since the cost for most working people is within their budget, they should have insurance.

How much does it Cost to Bury a Child or Infant?

This uncomfortable to talk about.  Who wants to bury a child?  No one.  Since this is a comprehensive article, this needs to be addressed. There is not much difference in the cost of a child’s funeral and an adult’s funeral.

We at Allstar Senior Benefits and our Partners Advanced Mutual Group http://www.advancedmutualgroup.comspecialize in burial insurance. Our toll-free number is 866-598-8170. Call us Today! We can give you a quote with no obligations.  Our website is.https://www.allstarseniorbenefits.com

Our Facebook page is http://www.facebook.com/medsuppguru

We are a free full-service state-appointed life insurance agency.

 

Most references are from the National Funeral Directors Association (http://www.nfda.org/news/statistics)

Also the (VA) Veteran’s Administration  (http://benefits.va.gov/benefits/factsheets/burials/burialpdf)

 

 

 

 

  

How, where, what, when and why applying for Medicare?  When applying for Medicare it can be a daunting task.  I hope this article can help you.  If after you read this article or need help applying for Medicare call us and we can help walk you through it.  Hi, I’m Mitch Winstead from Allstar Senior Benefits.  Our toll-free number is 866-598-8170 or 910-452-1922.  Our website is https://www.allstarseniorbenefits.com

Our Facebook page is http://www.facebook.com/medsuppguru

Social Security is the office that processes Medicare applications for Parts A and B. They offer easy options so you can make a choice on how to apply for Medicare.  When you are turning 65 you can apply early 3 months before your birthday.  By getting started early you should have your Medicare card before your effective date.

This called your Medicare Initial Enrollment period for Parts A and B., By the way, it’s also your enrollment period for a Part D medicine plan.  Part D medicine plans are available to purchase from an insurance company.  You don’t apply for Part D through Social Security.  Part D is voluntary.  If you do not apply for Part D when you are first enrolling in Medicare, there may be a 1% penalty for not enrolling.  I think this penalty is unfair but apparently my opinion does not matter to the Federal government.

When do you apply for Medicare?

People who age into Medicare at age 65 regardless of whether they are accepting retirement benefits yet.  If you are an American citizen age 65 or older and need medical coverage, you are entitled to apply for Medicare. If you are not an American citizen, there is a 5-year wait to apply.

At one time Medicare used to send a person an enrollment packet 3 months before your 65th birthday. I do not think they are doing that anymore. You have to be proactive and call or walk into the Social Security office yourself.  Or go online to apply.

If you are are not accepting retirement benefits you should submit an application yourself.  Apparently the government expects you to know when it is time to enroll.  Here are some timelines on when to enroll in Medicare.

Initial Enrollment Period

The initial enrollment period (IEP) for Medicare Part and Part B and Part D lasts 7 months.  It begins 3 months before your 65th birthday and runs for 3 months after your birth month.  If you enroll during your IEP you will have no late penalties.  When you register for Parts A, B and D depend on if Medicare will be your primary coverage or whether you still have employer coverage.

When to apply for Medicare as your primary coverage

 

if Medicare is going to be your primary coverage, you should enroll in Medicare in the 3 months before your birth month.  Your Medicare will start on the 1st of the month in which you tun 65.  When you enroll prior to your birthday your benefits begin on the 1st day of your birthday month.

if you register for Medicare in the 3 months after you turn 65 then your start date will be later.  Some people are unaware of this and could end up with a few months of no coverage.  One important note is-if you leave your employer coverage in the middle of your Medicare Initial Period then your Initial Enrollment Period precedes any other election period.  Don’t just assume your Medicare coverage will start immediately after your group coverage ends.

IMPORTANT MEDICARE COVERAGE START DATES

If you sign up for Part A and/or Part B in this month-                              Your coverage starts

1 month after you sign up                                                                    1 month after you sign up

2 months after you sign up                                                                   2 months after you sign up

3 months after you sign up                                                                   3 months after you sign up

3 months after you turn 65                                                                   3 months after you sign up

January 1 – March 31st                                                                             July 1st

 

It is important to know the Medicare deadlines ahead of time so you will know when to file.

If you are in your IEP and your birth month has already passed this chart lets you know you will have to wait for coverage. Applying for Medicare is in your best interest prior to you turning 65.

If you have small employer coverage (less than 20 employees, you should enroll in Parts A and B during your IEP Medicare will be primary if your employer has less than 20 employees.

Applying for Medicare when you have group health insurance through a large employer

Medicare can coordinate with your employer’s health insurance.  If you are working for an employer with 20 + employees.  In this case, Medicare will be secondary to your employer’s coverage.

You can choose whether or not to enroll in Part B.  Or you can delay your enrollment for Part B.   Check with your employer to make sure your group plan has outpatient benefits in your coverage.  You can delay your Part B enrollment and save your money and retain your open enrollment status even if you wait past turning 65.

It’s best to check with your employer even if you work for a company that has less than 20 employees.  It is to your benefit to wait to enroll in Part B to make sure you save money and again maintain your status for open enrollment.

We can help if you have any questions about enrolling in Part B or applying for Medicare.  Just give us a call toll-free 866-598-8170

How do I apply for Medicare online?

Social Security will offer a quick online application for Medicare. It can be completed in about 10 minutes or less.  You do not have to be receiving income benefits to get Medicare.  Please visit the Social Security website https://www.ssa.gov/benefits/medicare/ and press the BLUE button Apply for Medicare only.

If you have questions about Medicare Supplements or Medicare, please call us.

 

APPLY BY PHONE

Enrolling in Medicare on their website is not the easiest thing to do.  Sometimes it is easiest to apply by phone by calling 1-772-1213 for TTY users please dial 1-800-325-0778) Please tell the representative that you want to apply for Medicare.  If you do not get help immediately or if call volumes are high, the social security office may schedule a telephone appointment to take your application over the phone.

Social Security may also send you some forms to complete. Usually, these forms are simple.  Filling out forms is a slower way to enroll in Medicare.  The phone option is the easest enrollment.

HOW TO APPLY IN PERSON

Some people may feel more comfortable going to their local Social Security office.  This is more convenient for people who live close to their Social Security office. Your application can be processed quicker. To find the closest office to you you may visit the Social Security website.  When you meet with a representative I would recommend asking for a printout that shows you have applied for Medicare Part A and B. This form will come in handy when you are to go forward with a Medicare Supplement or Part D medicine plan.

FREQUENTLY ASKED QUESTIONS ABOUT APPLYING FOR MEDICARE

 

What is Open Enrollment?

Your open enrollment period Medicare itself is based on your birthday.  It is a seven month period that begins 3 months before your birthday month before you turn 65. To avoid penalties, Be sure not to confuse this period with the Annual Enrollment Period  (AEP) beginning on October 15-December 7th at the time of this writing.  Annual Enrollment Period is only for changing your drug plan or Medicare Advantage Plan.

When will I get my official Medicare Card?

Usually, it takes approximately 3 weeks to get your card after you apply. If you are receiving Social Security benefits when you turn 65, your enrollment into Medicare is automatic. Your card should be in your mail 2 months before you turn 65. When you receive it, be sure that you do not forget to enroll in part D if you need drug coverage for your Initial Enrollment Period begins.  Your agent should inform you that if you do not Enroll for a part D medicine plan, the federal government will impose a 1% penalty for each month you do not have a Part D plan.

 

Do I have to apply for Medicare each year?

No, thank goodness.  You only have to apply once. Your Medicare Parts A and B will automatically renew every year in less you fail to pay your part B premiums. Your Part D premium drug plan will also auto-renew each year. However, Part D drug plans benefits change from each year so be sure to review your coverage each year during the Annual Election Period.

Applying for Medicare and enrolling for Medicare part A&B is just your beginning steps. Medicare does not cover all your medical costs.  There can be significant medical costs associated with just having Medicare.  You will be responsible for deductibles and co-insurance.  It is to your benefit to work with a Medicare Supplement specialist like Allstar Senior Benefits.

 

How Long Does it Take to Get Medicare Part B after I apply?

In a lot of circumstances, Part B will begin the following month.  Sometimes though this is not the case.  It also depends on when you enroll.

 

If you have any questions, please call Allstar Senior Benefits.  Our toll-free number is 1-800-598-8170 or 910-452-1922.  We can help you also learn about medicare supplement plans that are also called Medicare supplement insurance.  Find out how much a medicare supplement costs.

 

 

 

 

 

What exactly is a life insurance rider? Good question. The definition is a provision of an insurance policy that adds to or amends the coverage or terms. Life insurance companies offer rider but differ from company to company.  Most riders add coverages for an additional cost. However, some restrict coverages for name conditions. For example. if you have some type of health condition then the coverage might be restricted with the rider.

Another example is when a person is applying for health insurance, the insurance company can put down a health condition like back problems and the insurer does not have to cover because that is known as a rider. Also, you may think of it in this way a rider is something special that goes along with a conventional type of policy. So it’s almost like adding icing to the cake or an add-on.

The cake part is the base insurance policy and the icing is the rider. I hope that clears up some of the confusion. I will now go through some add-ons for life insurance policies. 

Hi, I’m Mitch Winstead with Allstar Senior Benefits and Advanced Mutual Group.  If you need life insurance quotes, our toll-free number is 866-598-8170. Our website is http://www.allstarseniorbenfits.com

We have a Facebook page at http://www.facebook.com/medsuppguru

Call us today if we can answer any questions regarding Life Insurance or Medicare Supplements.

Here is a list of life insurance riders you may want to consider when purchasing life insurance policies.

1. Accidental Death Benefit Rider
2. Paid-Up Additions Rider
3. Waiver of Premium Rider
4. Disability Income Rider
5. Long Term Care Riders
6. Spousal Rider
7. Return of Premium Rider
8. Guaranteed Insurability Rider
9. Children’s Term Life Rider
10. Renewable Term Rider
11. Term Insurance Rider
12. Critical Illness Rider
13. Transfer of Insured Rider
14. Accelerated Death Benefit Rider

The one that is most important for Final expense is called an Accelerated death benefit rider. A brief explanation of this writer is that if you have a terminal or chronic illness and have a life insurance policy then you can use some or all of the benefits to help pay for bills, healthcare, etc. most of the policies are sold today have this type of rider with no additional cost.

Another one to talk about is called Accidental death benefit rider I have heard that this benefit is not going to be used much since most people die from an illness, not an accident. Also, there is accident insurance that is a separate policy only a small percentage of people have that policy. The insurance policy itself is relatively inexpensive. So if you have an insurance policy and they want to charge you a big amount for having this type of accidental death benefit then you might want to think twice about it.

Children’s or Child rider This is found on some burial insurance policies/ whole life policies. this allows a life insurance policy at a nominal or free cost to the policyholder. When you think about it, this is a great thing to take advantage of. Imagine getting a Free policy for your grandchildren or one that does not cost as much. Some Grandparents love to do this for their parents of their grandchildren.

 

This next one is kind of the Children’s rider. It is called a spousal rider You may be able to add a spouse to your coverage for no additional cost or a nominal fee. You have to be careful because if you cancel the policy or the original insured passes away then that writer also does not exist it goes away too.

Next is called a critical illness rider. This rider will pay a portion of the death benefit if you have a critical illness. Some critical bonuses accepted are heart attacks, aneurysms, strokes, and cancers. This writer is worth its weight in gold because a critical illness policy can be very pricey sometimes.

The next rider is called waiver of premium. This rider is usually seen on most disability policies. It is also seen on some term policies and long-term care policies This rider covers is if you suffered an illness or injury and you can’t pay your insurance premium, this would help pay your premiums until you are able to return to employment. Your policy would not be canceled. When it comes to long-term care to qualify for this type of benefits rider- you must not be able to perform to of the following six activities of daily living such as- eating, bathing, dressing, toileting, transferring or gait, or continence.

The next rider is called a Paid-up additions rider. Different companies call it different names. The purpose is the same though. This rider is used on whole life insurance policies to increase the cash value of a policy very quickly. You may have heard the commercials on the radio called- Bank on Yourself.

Guaranteed Insurability Rider. Sometimes you may not have enough money in your budget to purchase as much coverage as you may need right now. A guaranteed insurability rider gives you the option to purchase additional coverage at a specified time in the future such as any future .children you may have.

Term Insurance Rider. This rider provides additional term coverage for the amount specified. If the insured dies during this time, the designated beneficiary (ies)can receive death benefits proceeds.

 

Renewable Term Rider. This rider gives you the opportunity to convert term life policy to a whole life policy any time before you reach a certain age, such as age 65. A renewable term goes up in price each year, however, it is more affordable early in the policy.

 

Transfer of Insured Rider. If you own a small business, this could come into play. with this particular rider, you can transfer a life insurance policy from one employee to the next, providing flexibility as your workforce changes.

 

Disability Income Rider. This is a very valuable add-on available to policy owners when they purchase a life insurance contract. A disability income rider provides financial protection to the owner of a life insurance contract that a disability will ofter incur. Usually, a disability income rider will pay a monthly income of 1% of the face value of the contract and/or will also waive the monthly cost of the life insurance contract. Disability affects the quality of life and is also very expensive. This rider can improve a difficult time if a disability occurs.

 

Return of Premium Rider. This rider is one of my favorites. It returns the premiums paid if the insured outlives the term of the policy. For example, if a 10-year term life policy is purchased for $50 monthly and the insured outlives that time period, this rider will give you up to $6000 in premium returned. The cost of this add-on is not returned to the policyholder.

 

Long term Care Rider. Another one of my favorites is this one. This takes money out of your death benefit in order to pay for long term care whether it is nursing homes a private nurse, an assisted living facility and an adult daycare center, etc. Sometimes this goes hand in hand with and accidental death benefit rider. Accidental death benefits require a terminal illness diagnosis. A long term care rider is triggered by chronic illnesses that leave you unable to take care of yourself. Long term care policies may be purchased as a stand-alone product.

Commentary

If you have applied for health or life insurance policy and were asked health questions to qualify, policy riders are subject to underwriting guidelines too. It is possible that you may not qualify for certain riders due to medical conditions   The riders you choose will affect your premium. 

Some of my favorite riders are a waiver of premium rider and a long term care rider.  Waiver of premium rider would be to your advantage if you got hurt or have an illness and could not pay for your premiums.  

A long term care rider would possibly help the high cost for an individual policy.  Long term care can be expensive depending on your age.  

If you have any questions, please give us a call on our toll-free number 866-598-8170 or visit us at our website at-http://www.allstarseniorbenefitis.com

 

 

 

 

 

 

 

 

 

 

 

 

 

 

A financial advisor or life insurance broker, especially a good one can make a lot of difference it is really hard to find one though especially if you go to the Yellow Pages or make a search on the Internet there are faces and names that may look good and sound good but still are not sure about them. A life insurance agent or financial advisor should help you plan for the future should get to know you a little bit before he rattles off the face amount more figures that you should be concerned with when purchasing a life insurance policy.

My name is Mitch Winstead from Allstar senior benefits. Please ask our experts if you have any questions. If you would like a quote with no obligation, our toll-free number is 1-866-598-8170 or 910-538-4547. All of our policies are state regulated and approved by the Insurance Commissioner. Our email address is mitch@allstarseniorbenefits.com. Call us today!

I have spoken about this and some of my other blogs and this question or comment goes along the same lines as what is and needs analysis and needs analysis addresses things like bills actual debts your income some insurance professionals say that replacing an income from the breadwinner over several years is the most important thing to look at when you are purchasing a life insurance policy for your family. There are several other things that I will address in the body of this blog. The first thing to start off with is something not that is a figure or a bill or debt but asking the person what is of value to you what you value or what are your values some people say or what is most important to you? Some people may answer that question differently because people do have different values. Some may say well the security or financial security of my family that is most important. Some people may say well it is the safety of my family. On the other hand, some people may say well it could be the safety and security of my family. Another may be an obvious question but not so obvious is would you like to make sure your family is taking care of when you die?

The obvious answer again maybe not so obvious would be to some people to say yes, absolutely yes then again, there are some people that are heads of the family and do not have life insurance. I will not go on a rant today to say that you need life insurance. I will save that for another blog. Most of us do know how important life insurance is to our family. This goes along the same lines as if to say do you want your family to be in the same condition or living condition that they have now? Or would you like to put them in a better place? The answer to these questions could mean a lot of things. It could mean that you want to have extra money when you pass away so they can not have the financial burdens of paying off a mortgage or credit card debts or car payments etc. The main thing you don’t want to do is put them in a worse situation I have heard some struggles before that families did not have enough life insurance to help them when they needed it the most.

My mother just passed away recently along with my best friend and my beloved dog they all passed away within a month and a half of each other starting on January 24, 2019.  My best friend passed away on February 13, 2019. My mother passed away on Valentine’s Day 2019. She was the one that brought me into the insurance business her name is Kathleen Mullins. She was an agent since the 1980s. She had worked for several companies whether it was a captive insurance agency or an independent insurance agency. My definition of capital means that you only get to sell for one company. The reason I said all that is to say this, we are in the process of settling her estate. And the question may come up who should get a bigger inheritance should all your children receive equal shares or should one child get more than the other. I can tell you are ready where you might be thinking this is leading because if one child or someone else gets more than the other, it does start problems. Also if you die before your kids turned 18 you really should have an estate planner.

Even getting our attorney to call us back has proven difficult. It is recommended absolutely that you do get an estate planner or have an estate trust already in place and have had a family discussion about your estate and the trust. I know in North Carolina an attorney is supposed to call you back within 48 hours. If he or she does not they can actually be reported to the Bar Association. We were told that sometimes it may be a good idea to try to email and give the attorney a specific amount of time but don’t sound threatening if he or she does not return your emails.

Your income is one of the most important things that should be asked by your insurance professional in the event that you passed away. So for example, your if you were making $50,000 per year, your income replacement over 20 years would be $1 million. If it would be over 30 years, your income to replace upon your death might look like 1.5 to 3 million dollars. That’s just talking about your income alone to replace it. It doesn’t factor in any debts any mortgages if you want your kids to go to college and give them a specified amount. Some insurance agents call this the 4% rule with this example- If you have 1,000,000 the 4% rule would provide $40,000 income without spending down your principle and outliving your money. If your household income is $200,00 annually and your spouse makes $100,000 of that then you can find out how many million would be needed for life insurance to replace the income. $100,00/40,000 = $2.5 x $1,000,000 = 2,500,000. To replace that income everyone would need to purchase $2,500,000 on each of us.

If life insurance was not available. What would you do? Would you leave them with real estate? Would you leave them what’s in your bank account? Would you leave them what’s in an annuity? Would you need to take donations? The way I see it no matter what it’s just cheaper to own life insurance. Some agents will explain it like this. It’s “pennies on the dollar”. This means that for only pennies a day you can have a pretty good life insurance policy. Now if you have $1 billion in the bank you may not have to worry about life insurance.

Most of us don’t have that type of money. So let’s look at a breakdown if you are in your 20s or 30s. For about $30-$50 a month or cheaper you can get a hundred thousand dollars of term life insurance. If your term life insurance runs out when you’re older, it’s still cost-effective for you to get a simple burial insurance policy. You can still get that for around $30- $60 monthly. If you want to leave an annuity to somebody that is a pretty good thing, but just remember most of the time if it is an inherited annuity, that person cannot liquidate that money without losing a boatload to taxes. If it is a spousal annuity, then that would work out better.  By the way, many banks in America will not take time and explain all the concerns to you.  It is better to hire an insurance professional. of these So kind of the bottom line to all this is, what is your plan?

Now let’s talk about retirement. I had a vision of retiring whenever I was in my late 50s. If I could retire sooner I might do that. However, my vision didn’t turn out to be the way I wanted it. You could say well life happened. I think that is the way it is for a lot of people. Now I’m not sure if I’m going to be able to retire at the age of 65. I still have 12 years left. I think as much as I like the insurance profession I’m in, I will still stay involved a little bit for the rest of my life. I thought at one time I had my life all figured out at the age of 30. I had a great job and a pretty good retirement plan until the company I worked for went bankrupt. What is your retirement plan?

How much money do you want to have when you retire? Do you want to have $100,000, $300,000, or $1 million. As all of us would want we would want to have $1 million in retirement. I remember a while ago in the late 1980s someone close to me retirement $300,000 in their bank account. However, that was not enough. If you are making $40,000 a year and have $300,000 you can do the math, you’ll probably have about seven years to retire. That is if you’re comfortable making $40,000 a year.

A few more things to cover, what do you think taxes are going to be like whenever you decide to retire?  Of course, we would all like them to decrease. I don’t know that will ever happen but it would be nice if it did I considering the countries in the world economic conditions. However, you have to think that it’s going to affect your retirement plan regardless.

Do you have any debts?  It would be nice if we did not have any debts. Could you imagine no mortgage, no car payment and especially no credit card debt? If he did have a mortgage, then hopefully most of the mortgage would be paid off and you can start seeing some of a windfall in your bank account. I read in a financial magazine that most people in the middle class make a big mistake when they trade for another car or a new car when they don’t really need it.

How much money per month would you like to be saving? If you are able to eliminate some of your debt or preferably all of it you could be putting savings away for a rainy day and trust me there is going to be rainy days. Some people have said it’s not how much you make as a salary but it’s how much you spend. It is better if you put away a little bit of money each month rather than trying to score a touchdown each time. Sometimes you a meaningful amount away like $500 each month but you have to know that it’s going to be doable in your particular situation.

Do you have life insurance and what do you intend your life insurance to do? Do you currently have a policy that is in force? Or do your parents have a  life insurance policy that they took it out on you several years ago? Do you have a policy that your employer has on you? More than likely it is a life insurance term or Term life insurance.  There are many life insurance types. It is important about every year to discuss what kind of coverage you have and to discuss who your beneficiaries are. This may sound like nonsense but I assure you it is not. When a family member passed away in 2019, there was a lot of turmoil around her death. It’s not as easy as just saying let’s create a will let’s get life insurance and less just be done with it and not review it after the fact.

Another term for life insurance could be called mortgage protection insurance. Early on in my insurance career, I learned about mortgage protection insurance. So for example, if you had a mortgage of 250,000 for 15 or 20 years, you could buy a decreasing term mortgage protection insurance policy. The way this works is the benefits decrease as your mortgage decreases. It usually is a good idea to have your own mortgage protection insurance or life insurance separate from your employer. Especially in this day and age where companies are being bought out and people have to relocate jobs every for five years.

This next question goes like this,  are you prepared financially to die? This is a very tough question, to say the least, and also the answer is a very tough answer. No one really wants to talk about death but I heard it is actually emotionally better for you if you do. Believe me, I am no psychologist or psychiatrist. I wouldn’t want to have you take this question in a negative manner. But again it is a reality it’s something we all do eventually. So it’s better to be rather than to because off guard especially if you are the head household in your family or the matriarch were patriarch for your family.

In conclusion, I would encourage you to have a conversation with your life insurance agent about your policy. It’s better late than never and I hope some of these tips were questions can help you and your insurance advisor to come up with a great solution for your family’s needs.

This is Mitch Winstead from Allstar Senior Benefits. if you have any questions about this blog or any other life or health questions, please let us know. All of our life insurance companies we carry are state regulated and are approved by the insurance commissioner. If you would like help with life insurance quotes with no obligations, please also let us know by calling our toll-free number at 866-598-8170 or 910-538-4547. If you prefer email, our email address is mitch@allstarseniorbenefits.com mitch@allstarseniorbenefits.com.  Our website is https://www.allstarseniorbenefits.com

We have a facebook page here http://www.facebook.com/medsuppguru 

Thanks for reading!

Everything you need to know about the funeral rule.  If you are looking to purchase burial insurance this would be a good reference when visiting a funeral home to buy a casket urn or other items. This rule was enacted on April 30, 1984, and amended effective 1994.  This was put in place by the Federal Trade Commission that makes it possible for you to choose only those goods and services you want and only those you select, whether you’re making arrangements death occurs or in advance. The rule allows you to compare funeral homes, and makes it possible for you to select funeral arrangements you want at the moment to use. The rule does not apply to off-site buildings. Such as casket and monument dealers, or to cemeteries that lack an on-site funeral home. For a reference, see the FTC funeral rules and violations and funeral rules and regulations.

Hi, this is Mitch Winstead from Allstar Senior Benefits and Advanced Mutual Group.  If you are interested in low-cost burial insurance or need to compare prices, we will shop the market for you and solve your problems of getting a great price on burial insurance. There are also different types of burial insurance. If you have any questions about this blog, please let us know. If you would like a quote with no obligations to buy, please call our office at our toll-free number 866-598-8170 or 910-538-4547.  Or email us mitch@allstarseniorbenefits.com

All of our policies are state-regulated and approved by the Insurance Commissioner. Everyone qualifies for coverage no matter their health status.

Under the funeral rule

You have the right to purchase any funeral arrangements you want. You have the right to buy separate goods such as caskets and services such as embalming services, crematorium services. You do not have to accept a package that may include items you do not want. This happened with my mother’s crematorium service. One of the fuel marketing organizations I work with to ask me if I knew about this funeral rule. And I have not. It came in handy whenever we were at the funeral home and they were showing us all these different cremation boxes containers, displays. They were all priced high. So knowing what I knew about the funeral rule, we decided not to purchase anything from this particular funeral home. So if you ever get in a situation and you’re being told you need to buy this package or you need to buy this item seen in this package, you do not have to purchase from that location we actually went on to Amazon and purchased a few containers for our family for her ashes.

Here’s the deal. They must give you an itemized price list when you visit a funeral home. The funeral home must give you a general price list that is your key to all articles services offers in the cost of each one

In these days of the Internet and Internet shopping and being able to look at various places across the country to purchase funeral items, it makes the competition if you want to call that as for as pricing better for the consumer if he or she knows about the funeral rule. I can imagine some people just walk into the funeral home they may even know the funeral director and he points to a price point to a product and they just go ahead and buy it right then. That’s okay if you want to do that. Keep in mind though you’re probably going to pay 30 to 40% more.

They must let you see the casket price list before you see the actual caskets. Sometimes, a detailed casket price information is included on the funeral casket itself however it’s probably provided in a separate casket price list you should get the price information before you see the caskets so that you are aware of price products that might not be on display.

They must provide you an outer burial container price list. However burial container is not required by the state law anywhere in the US but may require them to prevent the grave from caving in the funeral home sells containers, but does not list the prices in the general price list, you should look at a separate container price list before you see the containers. If you don’t see the lower-priced containers listed ask where they are.

Want to know the best part?  I have been told that if the funeral home does not comply with the funeral rule that we are learning about the FTC can charge a fine of $17,000. I have also heard that the FTC does make inspections to places like funeral homes to check and see if everyone is following this particular rule

The funeral rule states that you should receive a written statement you decide what you want before you pay. It should show exactly what you are purchasing at the cost of each item. This statement listing should show every good and service you have selected, the price of each and the total cost immediately after you make the arrangements

They should offer you an alternative container instead of a casket for cremation no state or local law requires the use of the casket for cremation funeral homes that offer cremation containers are available and must make them available they might be made one finish wood, Presswood, Harwood, or cardboard

The funeral home should let you know that you have a right to purchase a casket war and urn elsewhere. The funeral provider cannot refuse to handle casket or urn that you bought off-line such as what we did at Amazon, or at a local casket store and they cannot charge a fee to do this the funeral home cannot require you to be there when the casket or the urn is delivered to them.

The funeral rule also states you can make funeral arrangements without embalming. As of this time of the writing, the state law does not require any routine embalming for every death. Some states require embalming or refrigeration if the body is not cremated or buried within a certain time. Some states do not require this at all. In most cases out there Refrigeration of the body is an acceptable alternative. So you may choose the services like direct cremation and immediate burial. This does not require any form of preservation. Most funeral homes have policies requiring embalming if the body is to be viewed publicly. Ask the funeral home, if it offers a private family viewing without embalming.  If a type of some preservation is required or necessary, ask the funeral home if refrigeration is available at that particular location.

Here is a sample on what is supposed to be on the (GPL) Guaranteed Price List to comply with the funeral rule.

Identifying information

Required disclosures GPL

Right of selection

Alternative containers

Casket price list

Professional service fees

Forwarding and receiving remains

Direct cremation and immediate burial

Outer burial container

Casket

Limousine

Hearse

Use of equipment and staff for graveside services

You spoke facilities and staff for Memorial services

Use of facilities and staff for viewing

Transfer of remains to the funeral home

Basic Services of the funeral director and staff

Alternative Price lists

Children and infants

Government agencies

Religious groups and Memorial Societies

This list goes on and has a casket price list telephone price disclosures

Misrepresentation prohibited by the rule

Embalming

Casket for direct cremation

Outer burial container

Legal and Cemetery requirements

Preservative and protective value claims

Cash advance items

Other misrepresentations

What consumers cannot be required to purchase under the rule

You cannot condition the Furnishing of any funeral good or service to a consumer on the purchase of any other funeral good or service except for the basic service and any required items by law. It also states you cannot refuse to serve a family because they do not purchase one particular item such as a casket or embalming or a combination of items or services that you may sell. You also cannot refuse to serve the family because they did not purchase one particular item. You cannot charge or include the charge for the optional item or service such as embalming in a non-decline of basic services fee. This would have an effect of making an optional item a required purchase for every customer. The rule prohibits you from charging any fee, as a condition of furnishing any funeral goods or service, other than the fees for

Basic services of a funeral director and staff, also the one non-decline of fees allowed by the rule.

Funeral goods and services selected by the consumer

Funeral goods and services required to be purchased by law or by the cemetery or crematory has identified and explained on the itemized statement

what this means is you cannot charge any additional fees for surcharges to consumers who purchase a casket elsewhere. Such fees would not fall within the three categories of allowable charges listed above. This extra “casket handling” fee is simply a hidden penalty for those consumers who exercise the right to purchase a casket from another seller. Also, you cannot alter your prices based on the particulars selections of each consumer. Such a practice like this also would defeat the purpose of the rule to give people accurate, itemize price information that would afford them the opportunity to select the arrangements that they want.

Exceptions-there are three exceptions to the consumers general right to choose only the goods and services wanted are:

The one non-decline of the basic service fee

Items required by law or by the cemetery or crematory

Impossible, impractical or excessively burdensome requests. You do not have to comply with such requests. However, you cannot refuse a request simply because you do not like it or don’t approve of it.

Here is an example during September, the family requests that a funeral occurs five days after death, but does not want to do any embalming. You do not have refrigerator facilities. Your state law does not require embalming under any circumstances. However, in this particular situation, you may refuse to provide these arrangements, unless the family buys embalming you can consider such a request impractical or excessively burdensome.

Note: if a customer requests items that you do not normally offer clients, you do not have to comply with this request. However, you are free to do so.

Free items: you cannot list any of the 16 items required to be separately itemized on the Guaranteed price list or no charge. Because you can recover the cost of the free item in your other prices on the generalized price list the consumer may not have the choice of rejecting the charge. However, you can offer items not required to be separately itemized on the Guaranteed price list such as acknowledgment cards at no charge as long as your state laws or local walls do not prohibit this practice.

Prior Approval for Embalming

You can charge a fee for embalming, only in one of the following three circumstances:

1. State or local law requires embalming under particular circumstances regardless of any wishes the family might have. If this is the case, you must note on the itemized Statement of Funeral Goods and Services Selected that embalming was performed because of a legal requirement and briefly explain that requirement.

2. You have obtained prior approval for embalming from a family member or other authorized person. (The Rule does not address the issue of who is an “authorized person” to give such approval. That is a matter of state or local law.) You must get express permission to embalm; it cannot be implied.

In order to obtain the family’s express consent to embalm, you must: 1) specifically ask for and obtain their permission, and 2) not misrepresent when embalming is required.

This Rule does not require you to get permission in writing, as long as it is express approval. Some states, however, may require written authorization.

On the Statement of Funeral Goods and Services Selected, you must explain the reason that you charged a fee for embalming. The reason may be that the family requested this service. However, if you tell a consumer that embalming is required for a specific reason (e.g., viewing or legal requirement), then you should list this specific reason on the Statement. Simply noting “family consent” for embalming does not convey the reason for embalming, only that the family has consented.

3. All of the following apply:

• You are unable to contact a family member or other authorized person after exercising due diligence. In trying to contact the family, you must exhaust all means known, given the time constraints.
  Attention: If refrigeration is available, you may be required to take more steps to contact the family and to obtain embalming authorization than if no refrigeration is available.
• You have no reason to believe that the family does not want embalming performed.
• After embalming the body, you obtain subsequent approval. In seeking approval, you must tell the family that if they select a funeral where embalming would be required (such as a funeral with formal viewing), you will charge a fee, but that you will not charge a fee if they select a funeral where embalming would not be necessary (such as a direct cremation with a memorial service). If the family then expressly approves embalming or chooses a funeral where embalming is required, you may charge them for the embalming you performed. But, if the family chooses a funeral where no embalming would be required, you cannot charge for the embalming.
  Note: The required disclosure regarding embalming on the itemized Statement will let consumers know that they do not have to pay for embalming if you did not get their prior approval.

Recordkeeping

You must keep price lists for at least one year from the date you last distributed them to customers. You also must keep a copy of each completed Statement of Funeral Goods and Services Selected for at least one year from the date of the arrangements conference. You must make these documents available for inspection by FTC representatives upon request.

Comprehension

You must make all the required disclosures to consumers in a clear and conspicuous manner. Your goal should be to present the information in a reasonably understandable form. In addition, the disclosures must be legible. The print or type must be large and prominent enough that consumers can easily notice and read the information. Finally, your price lists cannot include any information that alters or contradicts the information the Rule requires you to give in those price lists. You can include other information on your price lists if you wish. But, this should not be done in such a way as to confuse or obscure the required
information.

State Exemptions

State agencies may apply to the Commission for a statewide exemption from the Funeral Rule. The Commission may grant an exemption if it finds that:

1. There is a state requirement in effect that applies to the same transactions that the Funeral Rule covers; and

2. The state requirement provides an overall level of protection that is as great as, or greater than, the protection provided by the Funeral Rule.

If granted, the exemption will be in effect, as specified by the Commission, for as long as the state administers and enforces effectively the state requirement. An application for state exemption can be filed only by a state government agency. Funeral providers and trade associations cannot file for a statewide exemption.

If your state has obtained such an exemption, you only need to comply with your state regulations. If the Commission has not granted your state an exemption, you must comply with all state regulations, as well as the FTC Funeral Rule. You must comply with your state regulations, even if they are more stringent than the Funeral Rule.

Sample Price Lists

The FTC staff provides these sample price lists to help you understand the Funeral Rule’s requirements. You do not have to adopt these sample price lists. They are only examples. In addition, the fact that the FTC staff has developed these price lists does not mean that this format is the only appropriate one. A variety of formats will satisfy the Rule’s requirements.

Sample 1 – General Price List

Sample 2 – Casket Price List

Sample 3 – Outer Burial Container Price List

Sample 4 – Statement of Funeral Goods and Services Selected

Call us today if you would like a free quote with no obligations to buy.  For example, burial insurance for seniors of whole life insurance that builds cash value. Most companies offer burial insurance with no waiting period. You may also ask this question- Is burial insurance worth it? If you have questions about this blog please let us know also by calling our toll-free number 866-598-8170 or 910-538-4547. Or email us mitch@allstarseniorbenefits.com

REFERENCES-https://www.consumer.ftc.gov/articles/0300-ftc-funeral-rule

There is a home health care insurance policy from Guarantee Trust Life (GTL) that will cut you a check for receiving Home Health Care Services.  It is an inexpensive alternative to long-term care.  GTL has been in business since 1936. They are located in Glenview, IL. The check you would receive is in addition to any other insurances you may have that are active including Medicare. Including Medicare Supplement plans or Medicare Advantage plans. There is no prior hospitalization required.  You can also combine your short-term home health care benefits with coverage for hospital stays and accidents to enhance your coverage. It will also reimburse you up to 300 to $600 each year for medicines you already take once your policy is active.

There are additional benefit riders you can purchase such as a critical accident benefit rider. There is also an ambulance benefit rider and a dental and vision benefit rider.  Hi, this is Mitch Winstead from Allstar Senior Benefits we have been helping people for over 36 years with various insurance needs. Our website is www.allstarseniorbenefits.com. Our email address is Mitch@allstarsenior benefits.com. We have a toll free number 866 598 8170 or 910 538 4547 or 910 452 1922. If you would like a quote with no obligations or want to ask any questions- Call us today! Or go to this website https://allstarseniorbenefits.com and fill out the quote form.

So let’s break this down a little bit.  Yes, it will pay for home health services such as nursing, physical therapy, occupational therapy, respiratory therapy, medical social services, chemotherapy specialist, speech pathology, and enterostomal therapy. Plus it will pay $40-$120 daily for 60 days for a home health aide.  

There are three plans available. Plan A is $150 daily benefit, Plan B is a $300 a day benefit, and Plan C  is a $450 a day benefit. Contact us for quotes.

So for example, if you are in the hospital and need physical therapy either after your hospital stay or after you’ve been in a rehab facility, you would get paid $150 to $450 a day for 360 days if you have this plan. So if you’re getting therapy three times a week you would get a check for one of the above amounts for each day you have therapy or services covered under this policy. For years it’s been known that most people would like to recover at their home, not a rehab facility. It has been researched that home recovery is much quicker.

If you have multiple services coming in one day. For example nursing and physical therapy. if you chose $150 daily benefit, and you would get that benefit paid to you. Each service has a dollar amount so for example in this case $75 would count towards physical therapy and $75 would count towards nursing equaling $150 per day.

If you have the $450 per day benefit through this policy, you could receive up to $450 for each day you have one of these services. So if a person had multiple services coming into their house they would qualify to receive that daily benefit for each service up to  $450 daily.

I co-own a physical therapy practice called physical therapy for life. For the last 24 years, I have been helping people recover from an illness or injury. There is a huge need for this policy to help get people back on their feet again financially. Especially if they cannot work. If a person is retired, this will pay you a daily benefit to help with some of your financial needs such as covering deductibles and co-pays moments and the cost of medications. A big part of this policy is the home health aide coverage. Most of the time patients that are recovering at home really like and need their home health aide. They need help with taking a bath, fixing something to eat and getting dressed.  Most of the time patients would like to keep their home health aide as long as they can because of the importance of having someone to help them with general activities of daily living. This would include eating, bathing, toileting, dressing and transferring.

In my experience, the patients I have helped wanted to keep their home health care aide the most out of any other services.  Most of the time the home health care aides are not with a patient for very long. Why? Because once a patient becomes more independent and can bathe, eat and dress and transfer, then there is no reason in the eyes of Medicare to pay for the assistance of a home health care aide.  Many people cannot afford a home health care aide privately- paying out of their own pocket. This policy would help cover the cost associated with that type of service.

Wouldn’t it be nice to receive a check for $150.00 or more per day each time you receive these services?   Plus get the added bonus of getting reimbursed up to $300-600 each year for your medicines. There is also a 24-hour hotline available from the Mayo Clinic.  This is a free service to you when you have the short-term home health care insurance policy. For example, let’s say you had a question about a medical issue in the middle of the night.  This hotline is staffed by registered nurses 24/7 each day. All you have to do pick up the phone and you can call nurses about your health questions. Most of the time patients do not ask their doctors or providers about their health problems during their appointments. So each time you have a question to your doctor or nurse, the benefit of this 24-hour hotline is definitely a bonus.

The Mayo Clinic is one of the most respected Medical organizations. This is a time-saving cost-saving benefit. the nurses who you were speaking to have an average of 24 years of clinical experience.

This policy is very affordable especially since you are going to be reimbursed 300 to $600 each year for your medicines.   So let’s take a look at some rates. if you are between the ages of 65 and 70, a $150 daily benefit would have a premium of just $26.46 per month in the state of North Carolina.  Other states are available and have affordable premiums also. So let’s multiply $26.46 x 12 months = $317.52. If you take medicines, you could receive a reimbursement each year of $300.  So you would only be paying $17.52 for your policy. The policy almost pays for itself! With the prescription benefit, you would get $10 for each generic medication you take and $25 for each brand medicine you take up to $300-600 dollars each year.  

This a great policy to have also in addition to Medicare Supplement plans.  If you don’t have a long-term care policy, this is an affordable option for you.  Even if you have a Part D prescription drug plan, you still would receive up to $300-$600 each year for reimbursing your medications.

If you have any questions, please let us know.  Our toll-free number is 866-598-8170 or 910-452-1922.  Our website is https://allstarseniorbenefits.com  Our Facebook page is www.facebook.com/medsuppguru   Or email mitch@allstarseniorbenefits.com We have been helping people with Life insurance, final expense, cancer policies, long-term care, prescription drug plans, and Medicare supplements also.  Call or email us today!

When planning a funeral, how much should a funeral cost?

This is an important question for a lot of people.  If you don’t know how much a funeral or final expense will cost, you may not know how to plan for it. So let’s discuss some of the costs associated with a funeral, what goes into these costs and help you with some tips to save on your final expenses. A funeral burial service always costs much more than a cremation. Any service that includes the viewing will cost a lot more compared to a funeral that has no viewing of the actual body.   Hi, I’m Mitch Winstead with Allstar Senior Benefits. We are an experienced brokerage that has been helping people for over 36 years. Our toll- free number is 866-598-8170. Our email address is Mitch@allstarseniorbenefits.com.

 

Here is the average cost of a funeral in the United States.  $7,000-$10,000.

An average cremation cost is $1500-5,000.

These numbers are based on nationwide statistics.  The exact cost may be lower or higher. It will be based on where you live, what services you select and how extravagant the funeral will be.  

 

How do you calculate the average cost of a funeral?

Whether you decide on cremation or a burial funeral, this may have many moving parts. It is important to understand all the costs that are involved so you can know what to expect as you plan for your funeral expenses.

Below you will see a general estimate for some of the most common components that are attached to a burial service for a cremation service. These are just average costs as reported by National Funeral Directors Association.

Again your cost may be higher or lower depending on where you live and what choices you make for the funeral.

Metal casket ($2395) Usually one of the most costly line items of a funeral, caskets are a big-ticket purchase. They can get very expensive depending on the model. Make sure you do your homework to ensure the funeral provider is not marking up too much from their wholesale cost.

Vault ($13 27) This is the enclosure the coffin rests in to protect it from the weight of the earth and maintenance equipment that will pass over the grave. They are frequently referred to as “grave liners”, “grave vaults”, or “burial liners”.

Cremation fee ($330)  The basic cost to execute the cremation for the body.

Cremation casket ($1000) This is a fully combustible container that the body was placed in to insert into the cremation chamber.

Urn ($280) The container that houses the ashes of the deceased.

Professional service fee ($2,000) This covers the cost of the equipment and the labor for the funeral.

Transportation of remains to the funeral home ( $310) This covers the cost to transfer the body to the funeral home.

Embalming ($696) The embalming process is often required for an open casket service or if the body is going to be transferred to another state.

Miscellaneous cosmetic preparations ($250) This fee covers the cost of applying makeup, clothing, and hairdressing.

Facility usage for viewing ($420) This cost will apply if you wish to use the funeral home’s building or chapel for the service.

Funeral home staff or service ($496) You will only pay for this if you choose to use the services of the funeral home staff to assist you with the funeral ceremony.

Hearse ($320) This is the vehicle used to transport the deceased from the funeral home to the cemetery.

Printed Memorial package ($155) This is the cost to print pamphlets honoring the deceased and detailing the outline of the funeral service.

 

How can you save on planning a funeral and final expenses?

The funeral industry is known well for having high margins on the products they sell. The markups on caskets, urns and other funeral products are how they make the bulk of their profit.

Here are some simple to follow steps that you can counter their tactics and reduce the cost of your funeral expenses.

All funeral homes are required by law to show you a general price list upon request. Many funeral homes will verbally increase their prices hoping that you agree to it. They are required to honor the rate shown on the general price list regardless of what they state verbally.  Every price list will have a separate entry for each item. It is your right to only purchase the services and goods that you want.

Our advice is to call at least 4 to 7 funeral homes to get estimates on the service you are interested in. This may be a difficult time for you to shop around but it will help you select the best price for your business.

Keep your budget a secret– Never tell Any Funeral Home how much money you are wanting to spend. If they ask you what your budget is, simply say I’m not sure but it’s not going to be much.

Consider  A Direct Cremation– A direct cremation is a barebones cremation without a funeral service of any kind. You are just paying for the cremation of the body along with a very simple container to hold the ashes.

Consider a Direct Burial- A direct burial is a burial service that does not include any sort of service for the funeral ceremony. You are just paying for the cost of labor to process the body and bury it in a plain box rather than a casket. Direct burials usually cost around $3,000 to $5,000 depending on your area.

Here are some steps you can take to financially prepare for a funeral.

The financial aspect of a funeral is the most important element to prepare for unpaid funeral costs that can have a massive financial burden for the surviving loved ones who must take care of these unexpected bills.

Thankfully, there are multiple ways to prepare for final expenses. The saying goes different strokes for different folks, so choose which one suits you and your family best.

Regardless of which one you choose, you must do something. Not planning ahead is a sure-fire way to cause your family the burden of unpaid funeral costs. Nobody wants that.

Set aside some cash

Put cash aside specifically to cover funeral costs. It is vital that this money is never to be used for emergencies or any life event. If you do use it, it won’t be there to pay your funeral cost when needed. Also, make sure the deceased is not the only person named as the account holder or funds are being held. This would subject the funds to a probate process. You can even establish a funeral trust to hold the money. This will ensure the money is accessible to pay for the funeral expenses.

Burial insurance

Final expense life insurance or burial insurance is used specifically to cover your funeral costs or final expenses. These are small or large face value life insurance policies designed specifically to cover funeral costs. Life insurance rates are affordable, they are available for Seniors up to age 85. They have very lenient underwriting. Everyone can qualify.  Some policies have no underwriting questions which means it is guaranteed to be approved.

Pre-pay at a Funeral home

You can take out a pre-need policy. This is directly from the funeral home. This is a contract at the funeral home of your choice that utilizes a life insurance policy to pay for the funeral or the funeral home is named as a beneficiary on the policy. This is a great option if your goal is to pay off your funeral over a period of time. They also will allow you to document all your final wishes, so both the funding and planning of the funeral is complete.

I once attended a church that the Pastor and his wife bought a plot at the burial cemetery. They would go out by their plot and eat lunch. They said it is our property so we may as well enjoy it while we can.  Haha.

Sell Assets after death

Liquidate post assets to help acquire the funds to pay off the funeral bills. This really should be a last resort because assets must go through the probate process before you can access those funds. For that reason, there will be a substantial amount of time between the date of the deceased as to when you’ll have the cash in hand to pay for the funeral. However, if all other options are not available, this might very well be the only way to pay off the funeral expenses.  

 

If you or someone you know would like more information about life insurance, life insurance for Seniors and life insurance for parents or if you just have some questions, please contact our office toll- free at 866-598-8170 or 910-452-1922.  Our email address is Mitch@allstarseniorbenefits.com.  Our website is www.allstarseniorbenefits.com.  We have a page that you can get a quote with no obligation at https://allstarseniorbenefits.com  We have a Facebook page at www.facebook.com/medsuppguru  or message us on Facebook.  Thanks for reading!

 

Part D prescription drug plans were first introduced in 2006 and the Part D Medicare donut hole first began.  I remember this because of 2 things. I have been an insurance broker for over 20 years.  When I first started selling Medicare Supplements, I learned from my Mom Kathleen. She was selling Medicare Supplements and final expense back in the early ’80s. Hi, I’m  Mitch Winstead with Allstar Senior Benefits. Our website is www.allstarseniorbenefits.com   We offer free advice. If you have any questions or would like a quote, please call us toll-free at 866-598-8170 or 910-538-4547 or 910-452-1922.  If you would like a quote with no obligations, please click this link  https://allstarseniorbenefits.com/get-a-quote/#.W60lbGhKhPY  Our email address is Mitch@allstarseniorbenefits.com  We have a Facebook page at https://www.facebook.com/medsuppguru.   Here are the 2 things I remember back in the day.  1. Back in the year 2000, there were plans with the alphabet letters- H, I and J at that time.  Those plans would actually cover prescriptions. These plans would have a $250 deductible and they would pay half your cost of your medicines. 2. Why I remember the part D program so well is- whenever I talk to people about their Medicare supplements, they would always ask me does this cover any medicines.

What I would tell clients is that the plans mentioned already- H, I, and J would cover medicine.  Back in the year 2006, they stopped carrying those plans because the Part D prescription drug plan started. I am glad they started the Part D plans but it’s not a perfect solution. Besides the premiums, there are co-pays, coinsurance, and deductibles on most plans that are sold today. There are a lot of moving pieces in a Medicare Part D prescription drug plan. Sometimes, the Part D plan does not cover the medicine you’re taking.  Also, the plan might not cover a medicine that is prescribed by the doctor.  In some cases, the insurance company may want you to start out on a generic drug or another medicine to see if that helps first before paying for a more expensive medicine. The companies that sell Part D prescription drug plans are private insurance companies. There are no health questions. it is just a matter of finding the best plan that works for you at the lowest rate.

 

So with paying a premium, having a copay, paying for coinsurance and the Part D plan would only cover the cost of so many medicines. In other words, there is a monetary cap each year.  Part D Medicare plans have higher deductibles lately as much as $450.00. The deductible adds more money the consumer has to pay for Part D coverage.  On top of that, you have to deal with what’s called the “donut hole”. That means if you get to a certain dollar amount on your plan, the coverage for your Part D takes a not so good turn for the worse.  This means the “donut hole” So let’s fast forward to today’s cap for going into the “donut hole.” Part D plans for 2018 will cover $3750.00 as a monetary cap. That means after that dollar amount is met you will pay a higher amount for your medicines until you reach your point of $5,000- that is called catastrophic coverage. The good news is that the insurance company at that point have to cover 95% of the cost of your covered medications for the rest of the year.

 

Under the new budget deal for 2018, the plans will continue to pay 75% of the brand name drug expenses until a beneficiary reaches the catastrophic limit. The legislation thus figuratively closes the donut hole by requiring some drug manufacturers to bear more of the cost for Part D and enrollees when they reach the gap. Enrollees will only pay 25% of the cost of their brand-name prescriptions.  Generic medicines will be 37% but traditionally generic drugs, which already have lower costs, have not been the hardship for people in the cap.

 

In 2018 these manufacturers pay 50% of the cost of these brand name medications in the gap. Beginning in 2019 under the new legislation, these companies will now take on 70% and now some of the cost of those drugs has shifted back to the manufacturer,

 

We’ll have to see how this change might affect the cost of the medication themselves and the cost of the part D drug plans in 2019. It is hopeful that this change will be a positive one. We think many clients will be happy that the donut hole is finally going away.

 

This bill also repeals caps on Rehab Services. Since I have a license in physical therapy and co-own a Physical Therapy practice, I can speak to this subject very well. This means that there is no longer a Part B therapy cap on Medicare recipients.

Under the old therapy cap, people using Part B benefits were “capped” at $3750. Rahab companies would have to stop giving people therapy services such as physical therapy, occupational therapy, and speech therapy.   If we were treating a patient and the patient still needed therapy, we would have to stop providing services until that cap reset for the coming new year. Another part of the new legislation means this will also expand Medicare’s ability to offer telemedicine services. It also does away with the independent payment advisory board sometimes called the “death panel” created by the Affordable Care Act. Medicare Advantage plans got welcome news also. Now they will offer a wider choice of supplemental care management options for chronically ill individuals.  To help fund the budget deal, high-income Medicare beneficiaries earning more than $500,000 individually or $750,000 as a married couple will have to pay more for Parts B & D then they do now.   All of our plans and policies are state-approved and regulated. We offer free advice with no obligations. Our toll-free number is 866-598-8170 or 910-538-4547 or 910-452-1922. If you would like a quote with no obligations, please click here https://allstarseniorbenefits.com/get-a-quote/#.W60lbGhKhPY

Our email address is mitch@allstarseniorbenefits.com

We have a Facebook page at https://www.facebook.com/medsuppguru

Thanks for reading!

There is good news and concerns as you approach the eligibility for Medicare.  Should I get a Medicare Supplement or Medicare Advantage?

The concerns are: Medicare, along with all of its parts, is a bit complicated and confusing, like most things involving health insurance.

The good news: You know when you’re turning 65. So you know how many months or years you have to educate yourself about your options and the add-ons you can buy to cover the costs Medicare won’t.  There are free resources to guide you, including help from insurance brokers, who don’t charge commissions or fees, and from the state government and entities.  Hi, I’m Mitch Winstead with Allstar Senior Benefits. Our Website is www.allstarseniorbenefits.com   Our Facebook page is www.facebook.com/medsuppguru.  We offer free advice with no obligations. All of our policies and plans are state-approved and state-regulated.

If you have any questions our toll-free number is 866-598-8170 or 910-538-4547.  Or email us at mitch@allstarseniorbenefits.com

It can be overwhelming to people turning 65 and just entering Medicare age When you’re presenting this information, you have to go through it from A to Z.

 

Some quick facts first: When people turn 65, they’re eligible for Medicare, a national health insurance program for senior citizens. (Medicare isn’t to be confused with Medicaid.  You generally don’t have to pay anything additional for what is called Medicare Part A: most people pay into it during their working years or their spouse’s working years.

Medicare Part A covers hospitalization and some home health and hospice care costs. Medicare Part B pays 20 % for doctor bills and expenses like outpatient visits, lab tests, and X-rays, physical therapy and ambulances. For Part B, the standard monthly premium is $134, although it can be higher or lower depending on income and Social Security benefits.

Part C is a private insurance option that you can buy to pay more of your expenses or co-pays not covered by A and B. Part C also can cover expenses such as eyeglasses, dental visits, hearing aids and prescriptions, depending on the plan you choose. Part C Medicare Advantage plans may carry no additional monthly premium or cost a couple of hundred dollars per month, depending on the coverage you choose. Some of those won’t include Part D prescription coverage, which typically costs an additional $20 to $80 a month.

There are two kinds of plans:  There are ” Medicare Advantage” plans, which have lower monthly premiums but generally have a more limited choice of providers and come with co-pays and deductibles.  Medicare Advantage plans generally include prescription coverage and work like managed care plans: You have to get your care from providers in a network.

Then there are Medicare Supplement plans, which carry higher monthly premiums, but pay more expenses and provide more flexibility for care, particularly outside of your home state. That could be particularly important for retirees who spend the winter months outside Ohio or who otherwise plan on traveling to other states. Supplement plans do not include prescription coverage, so you have to buy Part D coverage, too. (Technically, supplements aren’t Part C, but Part C  covers the private insurance options that complement Parts A and B.) in my humble opinion, Medicare Supplement plans provide the best coverage.

So with a Medicare Advantage plan, you pay less upfront but more when you use it. With a Medicare Supplement plan, you pay more upfront but less when you use it.

Confused yet?

While you can buy Medicare Supplement,  Medicare Advantage and Part D plans on your own, many experts recommend going through a broker because there are so many moving parts, so many laws, and so many nuances.

We frequently ask Seniors about other needs such as final expense, short and long-term care, and Cancer policies. Some are receptive and some are not.

“What is good for one individual may not be good for them,”  “It’s very important for them to understand all of their options . . . We get a real understanding of what their life is like.

If you make the wrong choice, you could end up in an insurance plan that doesn’t include your preferred doctors or hospital   The plan you choose may not cover or have high prices for your prescriptions.

Or, if you make the wrong choice, you could end up being unable to switch to a different plan later or being denied coverage for major health conditions.

Many people don’t realize that insurance brokers’ services for Senior plans are free. Brokers get paid by the insurance companies. Their time and expertise cost nothing extra. So if you buy a plan on your own, or go through a broker, you’ll pay the same.

I don’t recommend going directly with a particular insurance company directly.  You most likely not get personal service. You probably won’t get the same person to talk to you and help you when you do call the insurance company directly.  They have hundreds of calls each day. Don’t forget about the hassle of pressing 1 for this, press 2 for that and 3 for another option. When you have a personal agent, you get personal service and someone who has your best interest in mind.  Independent agents and brokers don’t work for the insurance company directly, they work for you.

You don’t have to choose a Part C Medicare Advantage plan. You can just go with A and B, and then purchase a Part D plan for prescriptions. But that could leave you with high medical bills. Medicare Supplement and Medicare Advantage plans pay for much or all of what Medicare A and B do not. There are other options besides just a Medicare Advantage plan or Medicare Supplement,  For example, a person can purchase a Medicare Advantage plan plus a hospital indemnity plan to help cover the expensive gaps that are in Medicare Advantage plans.

If you are going through a broker, “make sure the broker is licensed in that state. Some brokers are doing sales over the phone.  Things have gone “high tech”. What used to be” face to face” sales are now being done over the phone and on a computer. The broker can do a screen share via the computer with you.  He or she can see you and can see them. Almost like Skype. Some people don’t want a stranger coming into their home. It is recommended that you get the license number of the individual broker you are talking to.

The Medicare guidebook advises when you’re shopping for Part D prescription plans, Medicare Supplements or  Medicare Advantage plans, which are run by private insurers and not the government. Then you should not rely only on what the insurance company tells you about its costs and coverages. An experienced broker can validate or correct what you’re told.

The two most important decisions hinge on whether to go with a  Medicare Supplement plan or Medicare Advantage plan and what kinds of costs you may be looking at for prescriptions. The issues Senior’s need to think about most is cost and choice.

At 65, it’s the only time you’re guaranteed a Medicare Supplement plan without going through medical underwriting ( that means health questions that are on the application). If you have any serious medical problems you do want to take advantage of your open enrollment period.  Open enrollment is a period that lasts for 6 months and begins on the first day of the month in which you are 65 or older and enrolled in Medicare Part B). Although some people who work past age 65 and don’t take out their Part B can get what’s called Guaranteed Issue.   

Besides important issues such as premiums, deductibles, co-pays, and out-of-pocket maximums, you also want to look at whether a particular plan covers things that are important to you: Does it cover dental or vision or hearing aids? Does it include a gym membership? What about physical therapy or chiropractic care or a skilled nursing facility?

Seniors can change Medicare Advantage and Part D prescription plans every year during fall open enrollment-from October 15th to December 7th.  You can change a Medicare Supplement plan at any time.

About 55 percent of Medicare recipients choose Medicare Supplement plans, which cost more but cover more and offer more choices for hospitals and doctors. It’s also a hedge because there’s no guarantee they can get a reasonably priced Medicare Supplement plan later. Meanwhile, 45 percent choose Medicare Advantage plans and purchase hospital indemnity plans to help with  the many out of pocket expenses

My recommendation again is to get the best coverage possible.  That translates into purchasing a Medicare Supplement. As you get older, you’re not going to get healthier.

QUESTIONS TO ASK:

Have your questions ready and write them down before meeting with an independent broker.  Here are some examples,

1. How much will I have to pay for premiums, deductibles, doctor visits, and hospital stays?
2. Will I have to choose a hospital and health care providers from a network?
3. Will my existing doctors accept the coverage? If not, are there doctors near me who will?
4. Will I need referrals to visit specialists?
5. Will the plan cover me if I get sick while traveling in another state?
6. What will my prescription drugs cost?
7. Are my drugs on the plan’s drug list?
8. Does the plan include the pharmacies I use now?
9. Can I get my prescriptions through the mail?
10. Does the plan have a good quality rating on that 1-5 star scale?

 

WHEN TO SIGN UP:

When do people need to sign up for Medicare?  Most of the time people who first turn 65 are automatically enrolled in Medicare Part A. The seven-month window includes the three months before the month of one’s birthday, the month of the birthday, and three months after the birth month. Medicare says this is the best time to purchase a Medicare Supplement.

But note, if you wait until after your birth month, coverage won’t begin for several months. When you sign up for Medicare A, you can also enroll in Medicare Part B. You don’t have to at that time if you’re still employed, enrolled in a qualified group plan, or your spouse’s group plan. If you don’t sign up for Medicare Part B within eight months after coverage ends with the group plan, you could face a higher premium forever of up to 10 percent a year for every year you delayed enrollment.

I know that covers a lot of material.  If you have questions, please give us a call toll-free at 866-598-8170 or 910-538-4547.  Our website is  https://allstarseniorbenefits.com

We have a Facebook page www.facebook.com/medsuppguru. Or you can email us at Mitch@allstarseniorbenefits.com  If you are interested in a quote with no obligations, please fill out the quote form by clicking this

link https://allstarseniorbenefits.com/get-a-quote/#.W60lbGhKhPY  

Thank you for reading!

https://en.wikipedia.org/wiki/Medicare_(United_States)

 Hi, my name is Mitch Winstead from Allstar Senior Benefits.  We are a Brokerage for Medicare products, final expense as well as cancer, short-term care, and long-term care policies. I hope you enjoy reading this article.  If you have any questions, we offer free advice and there are no obligations. Our toll-free number is 866-598-8170 or 910-538-4547.

I talk to people frequently about not going on their Part B of Medicare if they are still working. What does Medicare guaranteed issue mean?  If you want a Medicare Supplement and you go into your age 65 open enrollment period, I feel it’s a mistake.  I would not advise you to go on your part B of Medicare until you are ready to retire from work if you are on your employer’s medical plan. Here is a reason why you should not go on your Part B yet.

If you go on your Part B  at 65 and want to sign up for a Medicare Supplement you will have to answer all the health questions on the Medicare Supplement application. This is also referred to as underwriting. There are several health questions on the application. You have to answer no to ALL the questions. If you have major health problems you are not going to qualify for a Medicare Supplement.  If you choose to wait until you retire or stop working and go into your open enrollment period then your options are more open in my opinion. This means you can wait until you are age 67 or 68…… and then go on open enrollment.

Open enrollment means you do not have to answer ANY health questions on a Medicare supplement application. This is usually for people that are turning 65 and aging into Medicare. But you can wait until you have retired or stopped working to decide that you want to sign up for Part B of Medicare. This means you have more time to sign up for a Medicare supplement and not answer any health questions on the application and you qualify very easily.  How much time do you have on an open enrollment in this case? Usually, 6 months after your Part B becomes active. So this can get kind of confusing if you have any questions please call our office today. Toll-free at 1-866- 598- 8170 or  910-538-4547. Our email us at Mitch@allstarseniorbenefits.com. We have been helping people for over 34 years with not only Medicare Supplements but life insurance, final expense, cancer policies, and long-term care.  We will be glad to answer all your questions and if you want to enroll in a Medicare Supplement at that time we can do that in as little as 5 minutes.

Now you can make the argument that “Okay I’m going to go on Part B of Medicare at 65 years old and still continue working while getting my medical coverage from my employer.  You can certainly do that if you want to but if you are getting group benefits for your medical coverage at work then it’s going to be a disadvantage for you. Whenever you stop working and want to get a Medicare Supplement, here is what happens.

If you have major health conditions and take a lot of medicines, you may not be able to enroll because of health questions on the application. If you go on your Part B and are still working and receive benefits from your employer that covers your medical insurance. Your employer can drop you from their plan- this can happen.  For example, you’re now age 67 and take medicines and have some major medical problems and you call an insurance agent for Medicare Supplement. Most of the time they’re going to ask you did you go on your Part B of Medicare yet? If your answer is yes things just got more complicated.

However, you may be able to go on something that’s called Guaranteed Issue. So let’s discuss the definition of Guaranteed Issue. A guaranteed issue right means an insurance company can’t refuse to sell you a Medigap policy under certain situations. Here is a scenario that most likely triggers a guaranteed issue situation.  You have already decided to go on your age 65 open enrollment period. You are getting your medical coverage from your employer. You are 67 years old and your employer forces you out of their health plan. Now you can be eligible for guaranteed issue. Here are some “rules” on guaranteed issue. They must cover all your pre-existing conditions.

They can’t charge you more for a Medigap policy because of your past or present health problems. You have a guaranteed issue right when you have other health care coverage that changes in some way, like when you lose other health care coverage. In other cases, you have a “trial right” to try a Medicare Advantage Plan (Part C) and still buy a Medigap policy if you change your mind.  

Here is a more thorough explanation.   You are in a Medicare Advantage Plan, and your plan is leaving Medicare or stops providing care in your area, or you move out of the plan service area.

You have original Medicare and your Employer Group Health Plan including retiree or (Cobra) coverage or Union coverage that pays after Medicare pays and that plan is ending.    

You have Regional Medicare and a Medicare select policy. You move out of the Medicare select policy service area.     

You join a Medicare Advantage plan or programs of all-inclusive care for the elderly better known as (PACE) when you were first eligible for Medicare part A at 65, and within the first year joining you decide you want to switch to original Medicare this is another “trial right”.  

 

You dropped a Medigap policy to join a Medicare Advantage Plan to switch to a Medicare select policy for the first time, you’ve been in the plan less than a year and you want to switch back another “trial right”.  

Your Medicare insurance company goes bankrupt and you lose your coverage or your Medigap policy coverage otherwise ends through no fault of your own.  

You leave a Medicare Advantage plan or drop a Medigap policy because the company hasn’t followed the rules or has misled you. You also have a “trial right” to try a Medicare Advantage   

All of these scenarios let you return to original Medicare and purchase a Medicare Supplement.

At the time of this writing in the state of NC, here are the plans available under your “trial right” if you change your mind and want to get a Medicare Supplement.  Plans: A, B, C, F, K, or L. Do you notice what plans are missing? Answer: Plan D, Plan G, and Plan N. If you are in a guaranteed issue situation, you limit your choices to the above plans and you don’t get a choice if you want Plan G, or Plan N. The Plan G and Plan N are the most economical solutions for a Medicare supplement, especially the Plan G.  Not to confuse things any more but the Plan F and Plan C are not going to be available to new Medicare enrollees in the year 2020. I want to reiterate my point it’s best to wait in my opinion to go on your open enrollment period if you’re working past 65. To show proof that you have had medical coverage from your employer you must get a letter from the human resources department to qualify for guaranteed issue.

 

Here is one of my definitions again on what Guaranteed Issue means if you are past your open enrollment of Medicare.  You can apply for a Medicare Supplement policy and you do not have to answer any health questions. However, you are now limited to which plan you get to choose. You no longer have a choice of which Medicare Supplement plan to go on. The Federal government and/or State will tell you there are only a few plans available for you since you are on Guaranteed Issue. So let’s take an example. If you want it to sign up for a Plan G Medicare Supplement at the time of this writing. You cannot do that, you have to get a plan A, B, C, F, K or L, Medicare Supplement.  

Why? Because you are now under the rules of a guaranteed issue policy. Now you are stuck with taking a higher-cost plan and the plan that you could not pick out and have your “freedom” to choose because of the guaranteed issue situation you are in. That’s why it is so much better to wait to go on your Part B whenever you quit working and conserve your open enrollment. Some words of caution. If you delay your open enrollment at age 65 and are NOT receiving any medical benefits from your employer then you will be penalized by Medicare for NOT taking your Part B at 65.

 

One point of emphasis regarding qualifying for a guaranteed issue  I would like to make. This happened to some clients I knew, The husband’s coverage changed. The company he worked for stopped their current plan on retirees.  They offered him a plan that was not as good as the one he had. He could not go back to his original plan he once had and by the way, his wife was one his plan also.  So the company reduced benefits and gave him a choice. Take the reduced benefit plan or drop the company plan. Then they mentioned if you drop the company plan, you can get a private plan such as a Medicare Supplement.  So here is where it gets tricky. The company was not forcing him out of their benefits-they gave him an alternative plan with reduced benefits. So he was not getting forced out of his benefits. I said all of that to say this.  In order for him to qualify for guaranteed issue, the company has to “force” a person out of a plan by not offering a plan at all.

Therefore he could not qualify for guaranteed issue and he had major health problems and he already went on his Part B open enrollment. He had a lot of trouble finding a company to accept him due to his health.  Also guess what, he had to pay a lot of money for his Medicare Supplement with a company that has rate increases 2 times a year.

I understand that we don’t have a crystal ball.  Nowadays, most companies are not giving retirees anything anymore.  There is no company retirement plan, there is no health plan. It is not fair that the company did this to him.  You are almost better now to keep everything you can regarding life and health insurance in your control and not in your employer’s control so that they can do as they please with your insurance or retirement.

This topic is confusing.  It is best to consult a qualified Medicare Supplement brokerage like Allstar Senior Benefits.  Our toll-free number is 1-866-598-8170 or 910-538-4547 or 910-452-1922. You may email us at Mitch@allstarseniorbenefits.com.  Our website is www.allstarseniorbenefits.com.  We have a Facebook page www.facebook.com/medsuppguru.   All of our policies and plans are state-regulated and state-approved. If you would like a quote with no obligations, please click this link https://allstarseniorbenefits.com/get-a-quote/#.W60lbGhKhPY

We look forward to helping you!

https://en.wikipedia.org/wiki/Medicare_(United_States)