Are you staying up to date with the latest and most innovative Medicare solutions?
In recent years, the landscape of Medicare offerings has evolved, introducing new products that can significantly benefit policyholders. While not universally available across all states, many of these groundbreaking options are accessible through the carriers we work with. Here’s a glimpse into some of the innovative additions or features available with certain Medicare Supplements.
If you are interested in learning more about any of the items below, please contact La Rae Mills.
Medicare Supplement Household Discounts
Some products extend discounts for clients residing with another adult, whether it’s a partner, family member, or roommate. Additionally, applying with another person simultaneously, even if one individual is declined, may qualify for a discount.
Other Medicare Supplement Discounts
Enjoy discounts for annual premium payments, owning a registered Activity Tracker, or other ancillary policies like Dental or Final Expense written at the same time as the Medicare Supplement policy.
Preventive Rider or Plan with Additional Preventive Services
Certain Medicare Supplements now offer riders or additional segments covering preventive services beyond traditional Medicare coverage.
Innovative Pricing or High G Converted to G in 3 Years
Select carriers now offer a Plan G option that begins as a High Deductible G plan for the initial 2-3 years before converting to a full Plan G, offering substantial price savings over time. This is great for clients who are healthy at age 65 and believe they can cover a high deductible for a few years, knowing the plan conversion is coming.
Preferred Pricing for Healthy Individuals
Healthy individuals can secure preferred pricing on Medicare Supplements, with age pricing held until age 70, along with the potential for additional stackable discounts.
Other Ancillary Products for Medicare Clients
When navigating the world of Medicare, it’s crucial to recognize that most clients are either retired or on the cusp of retirement. With retirement often comes the loss of comprehensive benefits from their former employer, including health insurance and other ancillary benefits, including life insurance, dental, accident, and critical illness. It’s imperative to assess their needs, discuss their concerns, and formulate a retirement plan that encompasses healthcare coverage and end-of-life preparation.
Critical Illness, Hospital Indemnity, and Accident Policies
These policies offer versatile payment options, including lump sum, indemnity, or reimbursement. In addition to traditional insurance coverage, they can cover a wide range of extra costs such as hotel stays, travel, experimental treatments, childcare, pet boarding, loss of work, and more. While Accident policies do not require underwriting, Critical Illness and Hospital Indemnity policies usually involve simplified underwriting. Some Hospital Indemnity plans even offer Guaranteed Issue if obtained at age 65.
Final Expense
Final Expense insurance is a crucial tool for seniors to prepare for end-of-life expenses. With various options available, including funeral expense trusts, seniors can easily set aside funds for their final arrangements. While most carriers require simplified underwriting, some offer modified benefits or guaranteed issue options. No matter the situation, we’ll help you find the right solution for your client.
Dental, Vision, and Hearing
Many carriers now provide hearing benefits along with dental and vision coverage. Whether based on a network or PPO, these plans offer flexibility in provider choice. Plus, some carriers offer premium discounts when purchased alongside a Medicare Supplement policy.
Short-Term Care Insurance
This is a must-have product for all Medicare agents. Offering incredible benefits without requiring LTC certification, short-term care insurance helps clients stay in their homes longer by providing assistance with care expenses for up to 365 days. With simplified underwriting, higher age limits, and quick issue rates, it’s a hassle-free solution for seniors.
At Krause, we’re dedicated to helping you navigate the ever-evolving Medicare landscape and ensuring your clients receive the most comprehensive coverage available. Reach out to La Rae Mills to explore these innovative solutions further.
*Not all options, discounts, or products are available in all states. Please contact us for state availability.
*Please note that when writing Medicare Products, you may not be able to discuss some products at the same time during your sales meetings. If you have questions regarding Medicare compliance, please contact our office.
