Health Insurance Plans: Bronze, silver, and gold plans

 Free Quotes: www.MintcoFinancial.com

Call 813 964 7100

What's best for you? 

Which plan is best for you depends on several things, but primarily on whether you have some health or medical problems and expect to need a lot of medical care and services during the year, or whether you are in excellent health and need a health plan just in case something happens.

Keep in mind, all plan levels—bronze, silver, and gold—cover most preventive care, including screenings and immunizations, in full, with little or no out-of-pocket costs to you.

Bronze $

• Lowest monthly premiums
• Higher out-of-pockets costs—deductibles, copays, and coinsurance
• Higher out-of-pocket maximums (the most you'll pay in a year)
• On average, pays 60 percent of your healthcare costs
• May be the best choice if you don’t expect to need much medical care

Silver $$

• Higher monthly premiums than bronze, lower than gold
• Lower out-of-pocket costs than bronze, higher than gold
• Lower out-of-pocket maximums than bronze, higher than gold
• On average, pays 70 percent of your healthcare costs
• The "middle" choice

Gold $$$

• Highest monthly premiums
• Lowest out-of-pocket costs
• Lowest out-of-pocket maximums
• On average, pays 80 percent of your healthcare costs
• May be the best choice if you expect to need a lot of medical care

Plans with HSAs

Another term you’ll see in some plan names is HSA, which stands for health savings account. These plans generally have high deductibles, meaning you’ll pay that amount for medical costs before your health plan’s coverage kicks in. These plans may have special tax advantages, and allow you to set up a special bank account for medical expenses. Because these plans have high deductibles, they generally have lower premiums. You should make sure you understand how these plans work before choosing them.

Other factors that affect the cost of plans 

• The number of people to be covered by the health plan
• The ages of people covered
• Where you live (your county)
• Income—determines whether you are eligible for financial assistance
• Whether you use tobacco

Call us at 813 964 7100 if you have any questions about your health plan or if you need a quote for a health plan.

www.MintcoFinancial.com

Coverage for pre-existing conditions: I have a pre exiting condition...can i get health insurance?

Health insurance companies can't refuse to cover you or charge you more just because you have a pre-existing condition. They also can’t charge women more than men.

Being sick won't keep you from getting coverage

Your insurance company can't turn you down or charge you more because of your pre-existing health or medical condition like asthma, back pain, diabetes, or cancer. Once you have insurance, they can't refuse to cover treatment for your pre-existing condition.

This is true even if you’ve been turned down or refused coverage due to a pre-existing condition in the past.

When you get care for a pre-existing condition, you’ll still need to pay any deductibles,copayments, and coinsurance your plan requires. It doesn’t matter whether you’re being treated for a pre-existing or new health condition.

What can I do if my plan tries to deny coverage because of a pre-existing condition?

Under the Affordable Care Act, you have the right to appeal. To learn more, see Rights and protections.

Five things you must know to understand the cost of your health insurance

Five things you must know to understand the cost of your medical care.

Premium

The amount of money you pay to keep your health insurance plan active. You will pay this amount monthly for  the entire year. Your health plan will remain active as long as you pay all of your monthly premium cost.

Co-Pays

The specified amount you pay for certain medical services. These services include doctors visits,pharmacy prescriptions,diagnostic testing, home care services and other services according to your insurance policy.

Deductible

The specified amount of money you will be responsible to pay before your insurance company starts paying. Your deductible will be met according to the amount of medical care you use during the year.

Co-Insurance

The amount of medical bill you will pay for specified services, after you meet your deductible.Your co-insurance cost is actually sharing the cost of your health care with your health insurance company.

Out of Pocket Maximum

The total cost you will pay before the insurance company pays all of your medical care for that year.

Free quotes: http://www.mintcofinancial.com/health-insurance-obamacare-quote

Call 716 565 1300 or 813 964 7100

Health Insurance for young single individuals: Why should i buy health insurance?

I’m young and healthy. Why should I buy health insurance?

People become seriously ill and injured at all ages. Health insurance protects your financial as well as your physical health. If you need medical treatment, from emergency services to hospital care to rehabilitation, your bills could become overwhelming very quickly.

Another good reason to buy health insurance for young adults: it is the law as of March 31, 2014.

As of March 31, 2014, you should have health care coverage. If you don’t, you will pay a penalty. The IRS will add this penalty to your tax bill at the end of the year.

The Affordable Care Act gives you many more options to find health insurance that fits your needs and your budget.

Need a free quote: http://www.mintcofinancial.com/health-insurance-obamacare-quote

Call 716 565 1300 to speak to our agent Lloyd.

Health Insurance Quotes Online: Can I buy coverage outside of the open enrollment period?

?Can I buy coverage outside of the open enrollment period?

Most individuals may only buy private health insurance doing open enrollment, which runs from November 15 through February 15. However, certain life events will qualify you for a special enrollment period, during which you can buy coverage through the Marketplace. Life events include losing job-based insurance, moving, or a change in family size. HealthCare.gov offers a screener to help determine if you qualify for a special enrollment period.

If you qualify for Medicaid or the Children’s Health Insurance Program, you may enroll at any time. There is no open enrollment period for these programs.

Health Insurance Quote: http://www.mintcofinancial.com/health-insurance-obamacare-quote

Call 716 565 1300

Can I buy coverage outside of the open enrollment period?

Can I buy coverage outside of the open enrollment period?

Most individuals may only buy private health insurance doing open enrollment, which runs from November 15 through February 15. However, certain life events will qualify you for a special enrollment period, during which you can buy coverage through the Marketplace. 

Life events include losing job-based insurance, moving, or a change in family size. 

HealthCare.gov offers a screener to help determine if you qualify for a special enrollment period.

If you qualify for Medicaid or the Children’s Health Insurance Program, you may enroll at any time. There is no open enrollment period for these programs.

Health insurance quote online: http://www.mintcofinancial.com/health-insurance-obamacare-quote

Call 813 964 7100 or 716 565 1300

I have a pre-existing condition. Can I get coverage?

Beginning January 1, 2014, you can get insurance coverage even if you have a pre-existing condition like asthma, cancer or diabetes. Under the new law, insurance coverage will not be denied to those who have serious illnesses or injuries, or who had them in past years.

This is a big change that will help many people who have tried to buy coverage and were rejected because they had a pre-existing condition.

Another important new law provides unlimited annual and lifetime coverage. Beginning in 2014, health plans are not allowed to put dollar limits on what they cover in one year or during your lifetime. So if you need a lot of health care treatment, you don’t have to worry about “running out” of insurance.

Need a health insurance quote? http://www.mintcofinancial.com/health-insurance-obamacare-quote

Call 813 964 7100/ 716 5651300

Call Lloyd to answer your questions! 813 964 7100

Health Insurance Obamacare online quotes: Quick and easy free online quotes

http://www.mintcofinancial.com/health-insurance-obamacare-quote

You won’t be able to purchase health insurance outside of open enrollment unless you qualify for a special enrollment period. Certain life events, like moving to a new state, losing or changing jobs, or a change in family size, will trigger a special enrollment period.

If you have health insurance but want a more affordable plan, start keeping basic records about your household income and spending. You may be able to receive discounts or financial help when buying coverage for next year. You will need to provide income information when you apply for coverage through the Health Insurance Marketplace.

http://www.mintcofinancial.com/health-insurance-obamacare-quote

Call 716 565 1300 to speak to an agent.

http://www.mintcofinancial.com/health-insurance-obamacare-quote

Can I buy coverage outside of the open enrollment period?

Most individuals may only buy private health insurance doing open enrollment, which runs from November 15 through February 15. However, certain life events will qualify you for a special enrollment period, during which you can buy coverage through the Marketplace. Life events include losing job-based insurance, moving, or a change in family size. HealthCare.gov offers a screener to help determine if you qualify for a special enrollment period.

If you qualify for Medicaid or the Children’s Health Insurance Program, you may enroll at any time. There is no open enrollment period for these programs.

What is Obamacare? Understand it in a few words

Obamacare – also known as the Affordable Care Act, or the ACA – is a law enacted to ensure that all Americans have access to affordable health insurance. It does this by offering consumers discounts (known as tax credits) on government-sponsored health insurance plans, and by expanding the Medicaid assistance program to include more people who don't have it in their budgets to pay for health care.

The ACA also changed some of the rules insurance companies have to follow. For example, in the past if you had diabetes or some other preexisting medical condition, you could be turned down for insurance or your cost for coverage would be astronomical. Now you can't be turned down for any reason and the hope is that costs will be contained.

Obamacare is not a plan. It is a group of reforms that private insurers must adhere to in their plans. For example, insurers under Obamacare may not deny coverage or treatment for those with preexisting health conditions. You may buy an Obamacare compliant plan from a private insurer, contact Mintco Financial at 716 565 1300 or go to www.MintoFinancial.com.

If you buy health insurance through your workplace, your employer will inform you about its open enrollment period. The information below is for people buying health insurance on their own.
If your buying health insurance on your own, you have several options for purchasing a policy:

From your state’s health insurance marketplace -- check https://www.healthcare.gov to find yours

Directly from a health insurance company: www.MintcoFinancial.com
From websites like www.MintcoFinancial.com tthat offers health insurance quotes (http://www.mintcofinancial.com/) from multiple carriers
From a health insurance agent: Call 716 565 1300

www.MintcoFinancial.com

When is open enrollment 2016 for health insurance: Obamacare

If you want to buy individual or family health insurance for 2016, now is a great time to start your planning.

Under the Affordable Care Act -- more commonly known as "Obamacare" -- you can sign up for health insurance on your state's health insurance exchange or marketplace only during an annual open enrollment period, unless you have a "qualifying life event," such as getting married or having a baby.

That annual open enrollment period is fast approaching.

If you buy health insurance through your workplace, your employer will inform you about its open enrollment period. The information below is for people buying health insurance on their own.

If your buying health insurance on your own, you have several options for purchasing a policy:

• From your state’s health insurance marketplace -- check Healthcare.gov to find yours
• Directly from a health insurance company: www.MintcoFinancial.com
• From websites like www.MintcoFinancial.com tthat offers health insurance quotes from multiple carriers
• From a health insurance agent: Call 716 565 1300 or 813 964 7100

www.MintcoFinancial.com

Call now for a free quote and consultation:

716 565 1300

813 964 7100

Medicare Special Needs Plan: Helping people with special needs

Who Can Join a Medicare SNP?

You can join a Medicare SNP if you have Medicare Part A and Part B, live in the plan’s service area, and meet the plan’s eligibility requirements, such as one of the following:

• You have one or more specific chronic or disabling conditions (like diabetes, congestive heart failure, a mental health condition, or HIV/AIDS).
• You live in an institution (like a nursing home), or you require nursing care at home.
• You have both Medicare and Medicaid.

Each Medicare SNP limits its membership to people in one of these groups, or a subset of one of these groups.

For example, a Medicare SNP may be designed to serve only people diagnosed with congestive heart failure. The plan would include access to a network of providers who specialize in treating congestive heart failure, and it would feature clinical case management programs designed to serve the special needs of people with this condition. The plan’s formulary would be designed to cover the drugs usually used to treat congestive heart failure. People who join this plan would get benefits specially tailored to their condition, and have all their care coordinated through the Medicare SNP.

Need help? Call 716 565 1300 and ask for Lloyd Schneider, our Medicare Specialist.

www.MintcoFinancial.com

Seniors 65+: Health Coverage for 2015 and Medicare open enrollment

If you are near age 65 and in open enrollment, losing employer sponsored group coverage, shopping for better rates on your current plan, recently enrolled in Medicare Part B, or if you have been accepted into Medicare disability – we can assist you.

Medicare Supplements, sometimes called Medi-Gap insurance, have been around since the start of Medicare in 1965.  Medicare supplement plans are standardized and available in plans A, B, C, D, F, G, K, L, M and N in the state of New York.

A standardized plan simply means that two plans with the same letter will be the same coverage, no matter what company sells them. The standardization of Medicare Supplement plans makes comparison a little easier when everything else with Medicare can seem so confusing and complicated.

Everyone 65 and older is entitled to the basic Medicare coverage, but typically it only covers about 64 percent of the annual health-care costs. Added to the expense not covered by Medicare, there are deductibles, co-payments, and coinsurance to pay. 

 Both Medicare Part A and Part B were designed to help retirees with their New York health insurance. If you choose to add Medicare Part B, it is wise to add your supplements within the first 6 months. During this time the Medigap program must accept you and any preexisting conditions, known as “guaranteed issue rights”. In most cases, as long as you continue paying the premiums you cannot be cancelled. After the 6 months, if you decide you want a supplement policy, you can be turned down for pre-existing conditions such as diabetes, heart disease, or cancer.

New York Medicare Supplemental Health Insurance has a wide variety of plans and is organized alphabetically with each plan designated with a single letter. Plans are designed to help with the cost of deductibles, co-payments, and coinsurance. Some plans offer prescription, vision, or dental coverage. The different plans offer the flexibility of choosing your own doctors and hospitals that accept Medicare patients and specialists, without referrals. You have the freedom to travel and take your coverage with you anywhere in the United States.

Rates for Medicare Supplements can vary greatly between different carriers and are usually based on age, location, gender, and health.

GET HELP WITH MEDICARE AND MEDIGAP

Trying to understand all the health insurance options with Medicare, Medicare Advantage, and Medigap can leave your head spinning. Fortunately, there are people who can help.

Call our office at 716 565 1300 or visit our website for quotes: www.MintcoFinancial.com

We also review many different health insurance coverages.

Medicare: what happens when your health insurance switches to Medicare?

Mintco Financial is Your Resource for Senior Health Insurance in Buffalo,NY!

Like most people turning 65 you may be wondering about what happens when your health insurance switches to Medicare. Is there any paperwork I need to fill out? What plans do I have to choose from? Does Medicare pay for my prescription drugs? What about coverage for my particular medical condition?

Let’s take a look at 10 common myths about this important program.

Myth #1: People Can Enroll in Medicare Anytime

Most people become eligible for Medicare at age 65 and have a 7-month enrollment period to sign up for Part A and/or Part B. This initial enrollment period includes the three months preceding a person’s 65^th birthday, their birthday month, and the three months following their 65^th birthday. Unless a person is eligible for special enrollment, they must sign up during their initial 7-month eligibility period or wait until open enrollment, which happens each year from January 1- March 31.

Myth #2: Medicare Does Not Cover Prescription Drugs

Many of us have heard stories of elderly people struggling to pay for prescription drugs that aren’t covered by Medicare or who are forced to go without their prescriptions altogether because they simply can’t afford them. It’s true that Original Medicare (Parts A and B) covers only basic drug coverage (i.e. a limited number of outpatient prescription drugs under limited conditions). This is why Medicare Part D (prescription drug coverage) was established in 2003. Part D plans are offered through private insurance companies as standalone plans, or they can be purchased as part of a Medicare Advantage (Part C) plan. It’s important to make sure you choose a plan that covers all the prescription drugs you’re taking. Consult with a Medicare expert for help choosing the right plan. ( Call us at 716 565 1300, http://www.MintcoFinancial.com

Myth #3: Medicare Covers Assisted Living and Home (Custodial) Care

Medicare does not cover home care assistance for activities of daily living, such as dressing, bathing, eating, and housekeeping (referred to as custodial care), nor does it cover care in an assisted living facility. Medicare does cover some skilled nursing facility care, nursing home care, (as long as it’s not exclusively for custodial care) and some home health care services, including intermittent skilled nursing care, physical therapy, speech-language pathology services, continued occupational services, and other services, with varying conditions and restrictions.

Myth #4: Medicare and Medicaid Are the Same Thing

While the two have similar sounding names, Medicare and Medicaid are very different programs. Medicare provides health coverage for people age 65 and over as well those with end-stage renal disease (ESRD) and other conditions, while Medicaid provides health coverage for people with low incomes and few resources. Some people are eligible for both Medicare and Medicaid, but they must apply for each program separately.

Myth #5: Medicare Supplement (Medigap) Plans Cover Everything Original Medicare Covers

Medicare supplement (Medigap) plans are designed to help cover costs like copayments, deductibles, and coinsurance amounts that aren’t covered by Original Medicare (Parts A and B) or by a Medicare Advantage plan (Part C). There are a wide range of Medigap plans to choose from that vary in cost. Consult with an expert to explain all the different parts of Medicare and how they work.

Myth #6: You Can’t Get Medicare if You’ve Never Worked

Generally, a person needs 40 Social Security Administration (SSA) work credits (equivalent to around 10 years of work) in order to qualify for Medicare Part A (hospital) with no premium. This can present an issue for homemakers who have never worked. To remedy this, Medicare allows homemakers to obtain no-charge Medicare Part A based on the work record of their spouse, as long as the person is 65 or older and their spouse is at least 62. Otherwise, a person will pay $234/month in 2014 if they have 30-39 work credits, or $426 per month if they have fewer than 30 work credits. Once a person has earned 40 work credits they no longer pay a premium for part A. Parts B (medical) and D (prescription drug coverage) both have separate premiums and have nothing to do with how long you’ve worked.

Myth #7: The Affordable Care Act Made Drastic Cuts to Medicare

In fact, the opposite is true. The Affordable Care Act (ACA) prohibits cuts to Medicare benefits and aims to rein in the cost of provider payments, cut down on fraud and waste, and otherwise cut down on costs by ensuring seniors get preventive services in order to avoid chronic conditions like heart disease and high blood pressure, which are expensive to treat and reduce quality of life.

Myth #8: People Living Longer Will Bankrupt Medicare

This myth has persisted for decades as modern medicine has continued to increase life expectancy. Long term care in a nursing home, assisted living, or at home (custodial) tend to be the biggest expenses that people of advancing age incur, and none of these services are covered by Medicare. Medicare does cover hospital care, skilled nursing facility and/or nursing home care (as long as it’s not custodial), hospice care, and home health care services.

Myth #9: Medicare is Free Healthcare

Despite a common misconception, Medicare is not free. Several parts of Medicare have premiums. Here is a breakdown:

• Medicare Part A– Has no premium for those who have at least 40 work credits and/or those who qualify based on their spouse’s work record.
• Medicare Part B– Most people pay $104/month in 2014. People with incomes above $85,000/year will pay more.
• Medicare Part C (Medicare Advantage plans)- These plans take the place of Original Medicare (Parts A and B) and may or may not have an additional premium.
• Medicare Part D (prescription drug coverage)- These plans are purchased through private insurance carriers and vary in cost.
• Medicare supplements (Medigap)- These plans have an additional monthly premium that varies in cost.

Myth #10: Medicare Costs the Same Amount for Everyone

The majority of people will pay no premium for Part A, and $104/month for Part B in 2014. As mentioned earlier, some people will pay a premium for Part A based on their work history, and Medicare Parts C, D, and Medicare supplement plans all have variable premiums. Based on the plans and supplements chosen, the amount a person pays for Medicare coverages can vary considerably from one person to the next.

Navigating the world of Medicare can be confusing. Consult with a Medicare expert at Mintco Financial , Phone: 716 565 1300 to understand all your coverage options and find the combination of plans that is right for you.

Visit www.MintcoFinancial.com