Long Term Care and Disability Insurance

Major Premium Increases Projected for Part B Medicare in…

Presented by Leonard Berthelsen Several reports recently, including one from CSG Actuarial, have indicated that there is going to be a major shift in the financing of Medicare Part B in 2016. It is being reported that the Part B premium that Medicare recipients pay will increase from $104.90 per month to $159.30 per month. That is a 51% increase! The Part B deductible is projected to increase from $147 annually to $223. Again, a 51% increase! The big unknown here is whether the Medicare Supplement carriers will follow suit and increase premiums as well. Plan F Medicare supplements are projected to have claim costs of up to 8% higher in 2016 due to the increased Part B deductible. On the other hand, the Plan G Medicare supplement is anticipated to be premium neutral for the carriers as the deductible is paid by the Medicare enrollee. There has been no official report from Medicare or CMS about these reported increases but we have come to accept that those announcements are generally made late in the year prior to implementation. What does it mean to a producer that has the discussion with their clients about Medicare and supplemental coverage? Simply put, some real opportunities for you and your clients. If someone has a Plan F Medicare supplement and is insurable, there very well may be an opportunity for a discussion about a Plan G Medicare supplement. Carriers will undoubtedly tout the major differences between the G & F plans that they offer, and pricing certainly will be at the forefront. There could be an unusually large group of Medicare supplement clients looking at alternatives when these new rates go into effect. With Financial Brokerage rolling out our Medicare supplement line of carriers later this month, there will be some opportunities presented to you with these changes. We are offering a great carrier line up, competitive commissions, state of the art quoting-to-application electronic quote system and Shared Success credits all in helping you be successful in your practice.
Annuities

Longevity Risk

Presented by Richard Mangiameli Longevity risk is one of the primary concerns your clients will have in their retirement years.  You can show them how to both protect their retirement assets and generate lifetime income with a fixed indexed annuity.  Fixed indexed annuities can address a multitude of issues, including: 1. Market volatility   2. Longevity        3. Health care cost   4. Inflation   5. Long-term care Click here to read more on this topic: http://www.lifehealthpro.com/2015/06/18/5-major-risks-to-a-clients-retirement-income?page_all=1
Long Term Care and Disability Insurance

Help your Clients Understand the Financial Pitfalls of a…

Presented by Leonard Berthelsen   Most consumers would be hard-pressed to explain what their real out-of-pocket costs would be if a major health issue occurred.  Deductibles, co-pays, primary doctor vs. specialist, generic vs. name brand are just a few of the costs and decisions that come up.  Then there are those expenses not really talked about or covered in their health plan such as travel, lodging, experimental drugs and procedures, not to mention time off work. Critical Illness and Cancer/Heart Attack/Stroke coverage can be a tool that financial professionals use to bridge the gap created by these out-of-pocket expenses.  Having a lump-sum check arrive while your client is undergoing cancer treatment or recovering from a heart issue can be a huge relief to them and their families. As their health plans have increased deductibles and co-pays in order to keep premiums down, this results in only “kicking the can down the road” because eventually the cost is going to come back to your clients in the form of payments for those higher deductibles and co-pays. Many people have limited disability coverage at work, if they have it at all, and it may only pay a portion of their salary or wages.  That loss of income potentially poses a huge financial risk to your client.  Having a critical illness plan can soften the blow from reduced or stopped paychecks. Critical Illness and Cancer/Heart Attack/Stroke coverage can be tailored to your clients’ exposure and are designed to have affordable premiums.  In addition, they potentially will pay for those expenses not covered by their health insurance plan.  These products have limited underwriting and great compensation. Contact your Financial Brokerage Sales Manager today at 800-397-9999 to find out how Critical Illness and Cancer/Heart Attack/Stroke coverage can help your clients weather the financial risk from a health crisis!