Stockett & Associates

Once you have coverage in place, you can NEVER lose your insurance due to declining health. Nursing homes, assisted care facilities, hospice care, adult day care and others are offered. Survivorship benefit is provided if both husband and wife are insured on the same policy and the policy has been in place for 7 years.

Generally, you are eligible for Medicare if you or your spouse worked for at least 10 years in Medicare-covered employment, are 65 years old, and a citizen or permanent resident of the United States. If you are not 65, you might qualify for coverage if you have a disability or with End-Stage Renal disease (permanent kidney failure requiring dialysis or transplant).

We have found there are many factors that are relevant when comparing an employer-sponsored health plan and Medicare insurance. Keep in mind that often times employer insurance may become much more expensive when you turn 65 and the coverage may be very different. Be sure to consult your Human Resources department for accurate information regarding your benefits.

A Medicare Supplement (Medigap) insurance, sold by private companies, can help pay some or most of the health care costs that Original Medicare doesn't cover, like co-payments, coinsurance, and deductibles. If you have Original Medicare and you add a Medigap policy, Medicare will pay its share of the Medicare-approved amount for covered health care costs.

With the traditional long term care insurance you pay your premium, and if you need long-term care due to age or illness, the policy pays out a daily or monthly benefit. Some people think that if they die without needing long-term care, they feel they've "wasted" the premiums. With a hybrid plan you can withdraw funds from the policy for long-term care, and the insurance company pays for care when those funds run out.