tepsickinsurance

Choosing an Independent Insurance Agent for Medicare

Mon, 12 Sep 2022 12:19:36 GMT

An independent insurance agent can assess your personal situation and provide you with a Medicare plan from various companies that meets your needs. They offer an unbiased opinion and more personalized service.

Here are 9 things you should consider when deciding whether you would like to work with an independent insurance agent:

1. Expert Knowledge

When you require legal advice, you contact a lawyer. When a health issue arises, you visit your doctor. When you need assistance with your Medicare insurance coverage, why not rely on an industry expert? They have the knowledge and experience you may need to make the absolute best health insurance decisions for you and your family.

2. Time and Money Savings

Insurance companies that promise to drastically reduce your rates in minutes may seem cost-effective at first, but they will not save you time and money in the long run. By working with an independent insurance agent, you can save a great deal of time, some money, and headaches down the road. Instead of providing an instant rate quote, independent insurance agents ask questions to ensure that the coverage they design will adequately protect you when you need it.

3. Exceptional Customer Service

If you have questions related to your insurance coverage, would you rather reach an automated recording or an actual person who can help you? Independent insurance agencies like Tepsick Insurance, can come to you or have you visit the office at times that are most convenient for you. Instead of only being there for you 9-to-5, Monday through Friday like most companies, our agents are available to return your phone calls 7 days a week.

4. A One-Stop Shop

At our independent insurance agency, you can take care of all your Medicare coverage needs at once, including but not limited to medical, dental and vision. This limits the number of different companies you deal with and helps you stay organized. We are truly a one-stop-shop for all your Medicare insurance needs.

5. Easy Understanding

Independent insurance agents understand that Medicare insurance can seem complicated and confusing, especially when you do not deal with it on a daily basis. For this reason, your independent insurance agent will work to ensure that you fully understand your coverage and explain Medicare in easy-to-understand language.

6. A Great Reputation

Reputation plays a crucial role in finding a company you can trust, and many independent insurance agencies take pride in the years they have spent serving their local communities. Yvonne Tepsick is licensed in 21 states and has a well-established reputation in the community, which can also help you feel confident about Tepsick Insurance assisting you.

7. A Personal Shopping Experience

Working with an independent insurance agent is similar to having a personal shopper. Just like a real estate agent sorts through properties to help you find your ideal home, an independent insurance agent reviews many different insurance companies’ rates and coverage options to help secure policies that best suit your needs. Contrary to popular belief, this does not come at an additional cost to you as independent insurance agents do not add extra costs to insurance companies’ rates. This service is provided for free.

8. Local Knowledge

As local residents, many independent insurance agents have lived in your area for years and use their knowledge of the community to help you make informed decisions that reduce your risks. Tepsick Insurance agents will review your insurance plans annually, and make sure it is still working for you – free of charge. They are your consultants for a lifetime.

9. Protection and Peace of Mind

Above all, working with an independent insurance agent will provide you with the peace of mind of knowing that when you save money on your health insurance, it won’t come at the expense of comprehensive coverage. When it comes to your protection, relying on an independent insurance agent you can trust is a great place to start.

The Annual Enrollment Period (AEP) is October 15-December 7, 2022

If you would like to make an informed decision and select the right plan for your future health needs, make a free consultation appointment by calling me, Yvonne Tepsick, an independent insurance agent at 352-350-6663. I look forward to hearing from you!

Medicare: A Supplement Plan or an Advantage Plan?

Mon, 05 Sep 2022 12:21:03 GMT

The main goal of an independent insurance agent is to help you choose the ideal health insurance plan for your unique budget and health needs. An independent insurance agent can also offer periodic reviews of your situation at no additional cost to you, to make sure you continue to have the best coverage as your situation changes.

If you are approaching 65 and new to Medicare, one of the most important decisions you’ll have to make is whether you enroll in a Medicare Supplement Plan (Medigap) or a Medicare Advantage Plan. While you cannot have both a Supplement Plan and an Advantage Plan at the same time, you can switch from one to the other during special time periods if you meet certain criteria.

Traditional Medicare (Part A + Part B) offers broad service coverage but does not pay 100% of approved charges. The “gap” can be filled in part or whole by a Supplement Plan. Supplement Plans generally do not cover vision or dental care, hearing aids, eyeglasses, or private duty nursing.

Medicare Supplement Plans

To qualify for a Medicare Supplement Plan, you must be enrolled in both Part A and Part B. Since you can only purchase these plans during defined time frames, missing these opportunities could result in a plan no longer being offered at a future date. As a late enrollee, you also risk being subject to underwriting criteria and higher premiums.

So, what exactly are Medicare Supplement Plans? They are offered by private insurers and known as “standardized” plans because they must conform to Federal and State laws. They are identified by the letters A through N.

Regardless of which insurance company sells the plan, it must offer the same basic benefits. Premium cost is the only difference between plans of the same letter sold by different insurers. Medicare does not pay for the cost of these policies as you, the beneficiary is always responsible for the premium in addition to the Medicare Part B premium.

The differences among the lettered plans are best grasped in a table format. Suffice it to say that Plan F (only available in certain circumstances) and Plan N and Plan G offers the most comprehensive gap fill. The percent of deductibles and coinsurance paid for you varies among the plans. Some plans do not cover certain services, such as foreign travel emergencies or skilled nursing facility coinsurance. To offset this, Plans K and L have annual out of pocket expense limits. Supplement plans do not include a prescription drug benefit. A Prescription Drug Plan must be purchased separately.

Medicare Advantage Plans

Medicare Advantage Plans are offered by private insurance companies who contract with Medicare to provide you with all your Part A, Part B and Part D benefits. Some offer vision and dental benefits as well. A few Medicare Advantage Plans do not include a prescription drug benefit.

Medicare Advantage Plans can be a Health Maintenance Organization (HMO), a Preferred Provider Organization (PPO), or a Special Needs Plan or Chronic Care Plan. However, HMOs and PPOs are most common. They are assigned a quality rating (1-5 stars) based on a federally monitored program of performance standards. It is in your best interest to check the rating before you make a purchase.

Note that Medicare Advantage Plans have a Managed Care component to monitor and improve quality of care and control costs by reducing unnecessary duplication of services. With these plans, preventive care such as cancer screening and immunizations are highly encouraged. Also, a primary care physician is usually selected, and some services may need prior approval.

In addition, there are panels of in-network specialists. Generally, the larger the enrollment in the local or regional plan, the greater the number of specialists in the network. Out-of-network care may be partially covered on a PPO. All plans have maximums on out-of- pocket expenses.

The Annual Enrollment Period (AEP) is October 15-December 7, 2022