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Healthcare plans and insurance options are constantly changing, which can make it hard to understand what your policy covers. For more information on insurance industry news, tips to keep you covered, and changes to popular plans, follow the Advanced Insurance Concepts blog.
What Does Medicare Cost?
We get this question a lot. What does Medicare cost? And it depends on which option you choose, your medical needs or whether you qualify for financial assistance, etc… It’s difficult to put a cost on Medicare because of how the program works. There are four parts to Medicare A, B, C and D. Plus,…
What are the advantages of whole life insurance?
Whole life insurance, one type of permanent life insurance, provides death benefit coverage for the life of the insured. It also carries a savings component that has a cash value when it accumulates on a tax-advantaged basis. Are there death benefit coverage advantages to a whole life insurance policy? One of the biggest benefits of…
What is a Fixed Annuity and How does it Work?
A fixed annuity is a type of insurance contract that promises to pay the buyer a specific, guaranteed interest rate on their contributions to the account. With a fixed annuity, the insurance company guarantees both the rate of return and the payout to the investor. For example, if you purchased a fixed annuity at $175,000…
Why consider Tax-Free Life Insurance as Retirement Income?
As we get older, one of the biggest questions we ask ourselves is “Will I have enough money to live on when I retire?” One of the biggest factors in answering this question is generating retirement income that is tax-free. Where will this income come from? Will it come from an IRA? Will it come…
Is Medicare and Medicaid the Same Thing?
This is a question we get most frequently from our clients. And it’s no wonder when the words sound very similar. Is Medicare and Medicaid the same thing? Both are US government-sponsored insurance programs to help cover healthcare costs. But the simple answer is no, they are not the same thing. In fact, they are…
What is Medicare Part A?
What does Medicare Part A cover? When you think of retirement, you begin thinking about retirement funds and healthcare. When you are older than 65, when you think of healthcare, you think of Medicare. But do you really now what it’s used for? Who pays for it? When are you eligible? These are all questions…
Eight Biggest Mistakes Consumers Make with Their Medicare Coverage
Medicare coverage as of 2020, over 62 million Americans receive their medical insurance through Medicare. While most of these recipients enter the Medicare system when they turn 65, about 5 million get on Medicare due to disability. Medicare coverage is in 2 parts, Part A, which covers the cost of hospital care, and Part B…
What are the tax-free life insurance options?
Most often, life insurance isn’t taxable. There are some instances where life insurance is taxable, but let’s focus on those that are tax-free life insurance options for now. When your beneficiary receives a payout, or death benefit, in one lump sum. Regardless of the cash value, zero taxes will be taken. If the payout is…
2021 Costs for Medicare
Medicare costs change every year, and most of the time, you will see cost increases. Facing a Medicare health insurance plan with costs that change each year can be overwhelming. However, when you understand the changes in Medicare costs, you can prepare adequately. We will go over the cost of all Medicare parts to give…
What Does Medicare Cover?
Medicare is an insurance program dispensed by the federal government for people who are 65 and above. It covers the healthcare insurance needs of people with permanent kidney failure. Components of Medicare include Medicare Part A, Medicare Part B, Medicare Part C, Medicare Part D, and Medicare Supplement Plans. Each component handles aspects of a…
