Posted by
Senior Benefit Services
Dec
23
Senior Hospital Indemnity Insurance plan Available for Sale in Vermont
With a Hospital Indemnity Insurance plan, your client can receive a daily benefit from $5o-$600 per day to cover out-of-pocket cost (such as the Daily Hospital Co-pays with a Medicare Advantage plan), available in $50 increments, for a maximum benefit period of 31 days of confinement. This can mean a maximum benefit paid to your client of up to $18,600 per hospital stay. The daily hospital confinement benefit restores after 60 consecutive days of not being hospitalized, so it will be there should your client need it again. Coverage is also available if your client wants to include their spouse* and/or child(ren) on this valuable coverage.
Policy Details
- This Hospital Indemnity plan pays a benefit of up to $600 dollars per day (depending on benefit level selected) for up to 31 dayswhen hospitalized due to a covered injury or sickness.
- The Hospital Indemnity plan may be written on an individual, individual plus spouse, individual plus child(ren), or family coverage. Benefit levels and riders selected will provide the same coverage for each insured, except that each child insured will receive 50% of the daily hospital benefit and 50% of the lump sum hospitalization benefit selected.
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Individuals and spouses age 18-84 and children ages 0-26 will be eligible for coverage. For individual and spouse or family coverage, rates will be based on the higher age of the spouses.
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The Hospital Indemnity plan will be underwritten based on yes/no type questions on the application. Each proposed insured must be named and underwriting questions must be answered for each person.
Riders
Lump Sum Hospital Confinement Rider - pays up to $1,000 in increments of $250. This benefit also restores after 60 consecutive days of not being hospitalized.
Durable Medical Equipment Rider – which pays 30% of the first $1,000 of actual charges per calendar year for a wheelchair, walker, cane, or similar piece of equipment.
Ambulance Rider – pays up to $200 per service, one time during any period of hospital confinement.
Accidental Death and Dismemberment Rider – which pays up to $10,000 in increments of $5,000, for dismemberment or death due to an accident.
Facts to Consider
If you have a client on a Medicare Advantage plan because they Can’t afford a High Monthly Premium.
How are they going to afford a High Daily Hospital Co-pay?
The average length of stay in a United States hospital was 4.6 days in 2008.*
The average bill from a United States community hospital was $29,046 in 2008.*
* AHRQ HCUPnet. Agency for Healthcare Research and Quality (2008).
For More Information on our Hospital Indemnity plan in New Jersey call us at 1-800-924-4727 or email us Marketing@srbenefit.com
Posted by
Senior Benefit Services
Dec
22
American Continental has just announced that they have received approval for a rate increase on a specific (closed) block of Medicare Supplement policies in the following states:
Michigan
- The rate increase will effect plans A, B, F, and J policies effective February 1, 2012.
- The rate increase for plan D policies will become effective June 1, 2012.
South Dakota
- The rate increase will effect plans A, B, F, and J policies effective February 1, 2012.
- The rate increase for plan D policies will become effective June 1, 2012.
Oklahoma
- The rate increase will effect plans A, B, F, and J policies effective February 1, 2012.
- The rate increase for plan D policies will become effective June 1, 2012.
For more information on how these increases, or how they will effect your block of business call 1-800-924-4727 or email marketing@srbenefit.com
Posted by
Senior Benefit Services
Dec
15
2012 Medicare Part A and Part B Changes in Coverage, Deductibles, Premiums, and Co-insurance
Effective January 1, 2012 the daily Co-insurance and Deductible amounts for Medicare Part A and Part B will change. These amounts are set by law and updated annually.
Medicare Advantage and Medicare Supplement coverage will be automatically adjusted to fit the new Medicare Part A and B 2012 Amounts.
|
Benefit
|
Benefit
Period
|
Amount
Not Paid by Medicare Effective 1/1/11
|
Amount
Not Paid by Medicare Effective 1/1/12
|
| Medicare Part A Hospital Insurance |
Days 1 to 60
|
$1,132.00 the Part A deductible
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$1,156.00 the Part A deductible
|
|
Days 61 to 90
|
$283 per day
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$289 per day
|
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Days 91 to 150
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$566 per day
|
$578 per day
|
| Skilled Nursing Facility |
Days 21 to 100
|
$141.50 per day
|
$144.50 per day
|
The Medicare Part B – Medical Insurance deductible has been decreased from $162 to $140 per. calender year.
High Deductible – For High Deductible plan F and J, the high deductible has been increased from $2,000 to $2,070. This is the amount you must pay before any benefits are payable by the Medicare Supplement policy.
Co-payments - For plan N, the Co-payment for some office visits will remain $20. The Co-payment for emergency room visits that don’t result in an inpatient admission will remain $50.
If you are a Senior Insurance Agent and have questions about these Medicare Part A and Part B changes call Senior Benefit Services Inc. 1-800-924-4727., Monday – Friday 9:00 a.m. – 5:00 p.m. EST, or email us Marketing@srbenefit.com
Posted by
Senior Benefit Services
Dec
8
Gerber Life Insurance Company announces their annual Medicare Supplement plan rate increases for the state of New Hampshire today.
Effective January 1, 2012 on all 2010 Modernized Medicare supplement new and inforce business in New Hampshire “Plan A, Plan F, and Plan G” will be having a significant rate increase.
For more information on how this Medicare Supplement rate increase will effect your block of business in New Hampshire please call 1-800-924-4727 or email Marketing@srbenefit.com
Posted by
Senior Benefit Services
Nov
29
Medicare Supplement Rate Increase – New Jersey
Effective December 01, 2011, American Progressive Life & Health Insurance Company of New York will be increasing its premiums on currently sold Medicare Supplement plans in the state of New Jersey. Applications received by the Company on or after this date will be issued using these new premiums.
If you have any questions regarding this Medicare Supplement rate increase, please contact Marketing at 1-800-924-4727, or email Marketing@srbenefit.com
Posted by
Senior Benefit Services
Nov
17
American Continental Insurance Company (ACI) has received approval for a rate DECREASE on Medicare Supplement policies issued in Michigan, effective January 1, 2012.
What You Need To Know:
- A rate decrease of 10% is approved for all currently marketed (open block) MIPPA* Medicare Supplement plans.
- ACI Medicare Supplement policies have a 12-month rate guarantee.
- ACI pays full commission on Medicare Supplement policies issued in Michigan regardless of the applicant’s issue age or the plan selected.
Existing Policyholders:
- The rate decrease will become effective on the policyholder’s next Policy Anniversary Date that occurs on or after January 1, 2012.
- Policy Detail (available online) provides agents with a policyholder’s adjusted premium, policy anniversary date, and other important policy information.
For more information on how this Rate Decrease will effect your block of business call 1-800-924-4727 or email marketing@srbenefit.com
Posted by
Senior Benefit Services
Nov
17
Today Mutual of Omaha, United World, & United of Omaha Announced a Medicare Supplement Rate Increase for the Following States:
Effective January 1, 2012 on new business and February 1, 2012 on enforce business for United of Omaha 2010 Modernized Medicare supplement (Policies effective on or after June 1, 2010) in Maine and South Dakota, United of Omaha will be having a Medicare Supplement Rate Increase.
Effective January 1, 2012 on enforce business for United of Omaha 1990 Standardized Medicare supplement (Policies effective prior to June 1, 2010) in Indiana, United of Omaha will be having a Medicare Supplement Rate Increase.
Effective January 1, 2012 on enforce business for United World 1990 Standardized Medicare supplement (Policies effective prior to June 1, 2010) in New Hampshire, United World will be having a Medicare Supplement Rate Increase.
For more information on Medicare Supplement Rate Increases in your state call 1-800-924-4727 or email marketing@srbenefit.com
Posted by
Senior Benefit Services
Nov
10
Gerber Life Insurance Company announced today that there will be a significant increase on their Medicare Supplement plans in New Jersey
- Effective November 17, 2011 on new business (2010 Modernized Medicare supplement)
- Effective January 1, 2012 on enforced business (2010 Modernized Medicare supplement)
For more information on how this increase will affect your block of business or the exact percentages of the increase call 1-800-924-4727 or email marketing@srbenefit.com
Posted by
Senior Benefit Services
Nov
10
Gerber Life Insurance Company announced today that there will be a significant increase on their Medicare Supplement plans in Colorado
- Effective November 17, 2011 on new business (2010 Modernized Medicare supplement)
- Effective January 1, 2012 on enforced business (2010 Modernized Medicare supplement)
For more information on how this increase will affect your block of business or the exact percentages of the increase call 1-800-924-4727 or email marketing@srbenefit.com