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Medicare Supplement Plan Selections Set to Change in 2020

The National Association of Insurance Commissioners recently announced the changes about to take place to the federally standardized Medicare Supplement Insurance product line up.  There will be no changes between now and December 31, 2019. However, beginning January 1st, 2020 and thereafter, newly enrolled Medicare beneficiaries will have fewer choices with the selection of their Medicare Plan and older Medicare enrollees will be Grandfathered and allowed to continue to purchase the same plans available today on the market.

CMS and Medicare did not change the structure of any of the plans.  But, on or after 1/1/2020 Grandfathered Medicare beneficiaries will still continue to be able to purchase Medicare Supplement Plan C and F alongside plans: A, B,D,G,K,L,M, and N.  However, newly enrolled Medicare patients will no longer be offered Medigap plans C and F.  In place of the guaranteed issue provision currently being offered through these two plans, CMS has granted the guaranteed issue feature for plan G.   Over time this will likely increase premiums on plan G as more seniors begin enrolling under this plan without any medical underwriting.

CMS is making an attempt to phase out C and F primarily because of their first dollar coverage.  Federal studies have shown enrollees under these two plans utilize more healthcare dollars with this first dollar coverage than other Medicare enrollees without coverage for deductibles and coinsurance left off by Medicare.  By only allowing existing patients to continue to enroll under these two plans, over time enrollment should continue to decrease. Below is a chart of all the Medicare plans and coverage options under original Medicare.

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Why Going with an Independent Agency for Home and Auto Insurance Really Matters

Home and Auto Insurance are like a commodity.  Everyone who has a mortgage or has a license to drive an automobile must carry minimum amounts of insurance in order to maintain financing on those assets and stay out of trouble with the department of motor vehicles and safety.  Insurance is something nearly everyone must have by a matter of law and most coverage options related to these two types of property insurance are nearly standardized with the acceptation of a few options. So, naturally, most consumers gravitate toward one or two well-known names in the insurance world, not knowing how good or bad their rate and coverage limits are.  Or, how good their claims paying abilities really are…That’s where I H S Insurance Group comes in!

Unlike the big names in Home and Auto insurance where there is just one option for car and home insurance, I H S independently shops from dozens of A-rated insurance carriers to get you the most favorable terms and conditions possible with the highest rated insurers we can find.  Having an independent source for all your insurance needs puts you back in control by shopping insurance carriers on your behalf and presenting you with multiple quotes from several A-rated insurance companies you’ve actually heard of before. Licensed Insurance Agents at I HS insurance will carefully and skillfully craft a package for your Home and Auto insurance that meets your risk management goals while putting as much of your hard earned money back in your pocket as possible.

We not only do this for you the first year but have an award-winning service and renewals department that works hard day in and out to give you the best, most personalized service experience you will find with any insurance brokerage Agency in the Houston and surrounding areas.  I H S Insurance Group’s Leader, Michael F. Steele CFP, is committed to maintaining a team of dedicated professionals willing and eager to help you with any insurance decision you may need to make and can make the insurance purchasing experience be as simple and personable as humanly possible.  Whether you need a duplicate ID card or need to file a claim, trained experts and licensed insurance agents stand ready to quickly and efficiently handle your request because we truly appreciate your business enough to say Thank YOU, our committed customers, for your loyalty over the years, by giving you the best, most efficient customer service experience possible.

Get Auto or Home Insurance Quote

We have received notice of your impending renewal of your homeowner’s insurance coverage and would love the opportunity to save you a lot of money on your homeowners and auto insurance as a package or individually.  We shop dozens of A rated insurers to find you great rates with the highest rated insurers in the marketplace today.  Please complete the questionnaire HERE to view quotes from multiple carriers on your own terms.  Or, if you prefer to have a professional take some information over the phone please, do not hesitate to reach out to us by calling 1-866-341-8542.

Our commitment to service is truly what separates us from most other Insurance Brokerages in the marketplace.  However, another area we really shine in for the benefit of our customers and for those less fortunate than we are is our commitment to those marginalized people within our communities that need a little extra help.  For this reason, the owner at I H S Insurance Group, has agreed to make donations to charitable organizations like St. Jude for the Children with Cancer. On every new client I HS receives this year and every year for the years in which you have your policies with us, Michael Steele will make an annual contribution to St. Jude for the benefit of the Children stricken with cancer.   

I H S Services are free to you as the various insurance agencies we contract with pay us a fee to ensure you so, you know you’re getting unbiased advice and service as we have the ability to write most of the carriers in the marketplace for Home and Auto insurance in Houston, TX or surrounding areas.  Our licensed counselors will take the time to actually explain what you have and help you identify what areas of your overall risk management plan are weak. Actually knowing what you have and are exposed to is huge in identifying the best available plan among several large national insurance companies.

Get Auto or Home Insurance Quote

Call us today for a free quote.  All we will need are copies of declarations pages for home and auto.  Once these are in hand with just two or three small pieces of information related to you, we can shop dozens of A-rated insurance companies like: Travelers, Safeco, Progressive, UPC, The Hartford, Met Life, AIG, Chubb, and so many more.  Or if you prefer, browse our website and then complete a contact form when you’re ready to discuss numbers for home and auto. Our web address is: www.ihsinsurance.net Chances are if you’ve been with the same carrier for a long time you may be paying more than you need.  Insurance is cyclical and will incrementally go up over time, in some cases even if you don’t file any claims!  At I H S we stand committed to shopping your insurance periodically to avoid paying more than is necessary for these very real and present risks you take on.  At IHS you’ll always get that good down home service you have come to know and love from other small businesses in the area. Thank you and we certainly appreciate the opportunity to earn your business each and every year.

Sincerely,

Sales and Service at I H S Insurance Group LLC

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Texas Lawns and Yard Work Safety

For many of our neighbors in the Houston area spring means more than sunshine and April showers. It also means working in the yard – often with tools that can be dangerous if not used properly.

Each year about 400,000 people are treated for injuries from lawn and garden tools, according to the U.S. Consumer Product Safety Commission (CPSC). Don’t let your landscaping efforts land you in the hospital! Follow these handy safety tips.

Tool safety tips from the U.S. Consumer Product Safety Commission:

Dress Appropriately

To protect yourself from debris when using lawn tools, wear eye protection, long pants, long-sleeved shirts, close-fitting clothes and no jewelry. Sturdy shoes are recommended, and ear plugs may be appropriate depending on how loud the device is.

Before starting, remove objects from your work area that could cause injury or damage, such as sticks, glass or stones.

Keep Children Supervised At All Times When Using Power Equipment

Never let a child ride or operate a garden tractor or riding mower, even if the child is supervised. And never assume children will remain where you last saw them. Use extreme caution when backing up or approaching corners, shrubs and trees.

Teenagers Using Power Equipment Should Be Supervised By An Adult

Handle gasoline carefully. Never fill tanks while machinery is on or when equipment is still hot. Of course, you should never smoke or use any type of flame around gasoline or any gasoline-powered equipment.

Do not work with electric power tools in wet or damp conditions. For protection against electrocution, use a ground fault circuit interrupter (GFCI).

Be sure that extension cords are in good condition, are rated for outdoor use, and are the proper gauge for the electrical current capacity of the tool.

Lawn Chemical Safety Tips from Texas A&M University

If you use chemicals to control weeds or pests in your lawn, read the product label carefully so you understand the potential effects on humans, animals and the environment. Follow all instructions.

Keep children and animals away from the application area, and protect your skin, eyes and nose during and after application.

Remember, use only the recommended amount. Using more of the chemical will not do a better job.

Ask yourself if you truly need to use a general pesticide. Is there a product that will specifically treat only the problem you need to solve?

GET FREE HOME INSURANCE QUOTE

Call us at 281-255-4444, write us at info@ihsinsurance.net or visit our website www.ihsinsurance.net

IHS Insurance Group has proudly served the Houston are for over 14 years. It is our privilege to offer exceptional service to our neighbors in the Houston area, in the state of Texas and in 12 other states across the nation

Content sources used: www.safeco-msc.com

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from https://ihsinsurance.net/what-we-offer/homeowners-insurance/texas-lawns-and-yard-work-safety/

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Protect Car and Yourself During a Hailstorm

It may sound surprising, but there are approximately 3,000 hailstorms in the United States each year. The size of hail can widely vary – from golf-ball size to softball size. And when it starts building up size, hail can cause not just severe property and vehicle damage, but also bodily harm and even death. On average, hailstorms annually cause over $1 billion in damage to property, approximately 1,500 injuries and 80 deaths annually.

One of the most frightening places to be during a hailstorm is on the road in your car. Obviously your vehicle is at great risk of damage, but even more importantly, you are in danger in the event you can’t see well enough to drive or your windows are broken in by the power of the storm.

Here are some pointers for navigating a hailstorm while on the roads in the Houston Area:

Make sure you have a blanket in your car at all times. It can help protect you from glass injuries in the event the hail breaks your windows or windshield.

Turn on your low-beam headlights, and slow down.

Make sure you have more distance than usual in front of you so you have ample space to brake if necessary.

Turn on the local weather radio station to stay apprised of the status of storms.

If there is enough space on the shoulder of the road, pull over.

Turn on your hazard lights, regardless of whether you are pulled over or moving slowly; this will help other vehicles to see you and avoid accidents.

If there is a covered shelter to pull underneath, do so; this will reduce the damage sustained by your vehicle.

At IHS Insurance Group we hope you stay hailstorm-free this season!  

GET FREE AUTO INSURANCE QUOTE

Call us at 281-255-4444, write us at info@ihsinsurance.net or visit our website www.ihsinsurance.net

IHS Insurance Group has proudly served the Houston are for over 14 years. It is our privilege to offer exceptional service to our neighbors in the Houston area, in the state of Texas and in 12 other states across the nation

Content sources used: www.safeco-msc.com

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from https://ihsinsurance.net/what-we-offer/auto-insurance/protect-car-and-yourself-during-a-hailstorm/

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The Smart Home Revolution – 2019

Home security and monitoring has been revolutionized by smart technology as many things have today.  Gone are the days of the clunky, box security camera and old-fashioned rubber buttoned security panel.  Home Security in 2019 is smarter, affords tremendous convenience and often can be accessed remotely in real time from just about anywhere!

Home security providers who offer full-service systems are still a popular option with many people and many have joined the smart technology trends to keep their customers on board. Many companies now offer central monitoring, video surveillance, smoke/carbon monoxide detection, heating cooling controls and more all accessible through a digital hub that customers can access wirelessly. Some even include home automation tools so you can control appliances, light bulbs or electrical outlets from anywhere.  All of these great services often enabled to send text-message alerts in response to specific occurrences, such as when the kids enter the house after school or the power goes out.

Here are some of the newest and most popular security and home automation features homeowners in the Houston area are embracing:

Smart Thermostats

Thermostats with integrated smart technology allow you to control and adjust the air conditioning, heating and other temperature settings.  Another great feature, the thermostat can alert you if your home loses power or if the temperature in the house falls or rises outside of your customized set threshold.  An invaluable feature here in the Houston area especially during the hot summer months when pets or kids may be at home alone for a while.

Home Sensors

Smart technology integrated smoke detectors and carbon monoxide detectors that can interface with a central hub and mobile apps are one of the newest and most exciting new home security and automation features becoming available on the market. This provides remote monitoring and control capabilities beyond the old traditional sensor systems.  The ability to receive an alert when one of these sensor systems detect a problem is a huge leap in preventing a dangerous situation in your home.

Smart Door Locks

Smart locks make entering and securing your home easier than ever!  Many systems offer an automatic locking feature after entry, individualized codes and the ability to lock/unlock the door wirelessly from anywhere on a supported mobile device.   

Smart Appliances, Light Bulbs, Wall Plugs and More

Who hasn’t turned the corner from home and worried whether they unplugged the iron, turned out a light or possibly left the oven on.  With the newest home automation options these common issues can be tackled in a few seconds by pulling up an app on your phone.

Remotely control lights when you are away, turn off your crock pot by turning off the outlet or even dispense food to your dog’s smart feeder and watch him enjoy his dinner from your smart phone.

Smart Doorbells

Smart Doorbells are one of the biggest trends in smart home security that we’ve notice here in Harris County and surrounding communities.  Smart doorbells send alerts when there is activity at the front door, with some systems it is not even necessary for the button to be pushed for activity to be detected.  Many have high-definition security cameras that allow homeowners to view in real time or even review recorded shots when activity was detected. Online community networks and social media sites have been flooded here in the Tomball and Cypress, TX area with shared reports of suspicious activity or crimes that include photos or videos of the suspects in action.  This exciting new technology not only assists the homeowner, but is a valuable tool in communicating safety issues to your neighbors in real time with the click of a button.

Of course, even “old-school” tools, such as motion-activated outdoor lights, can still have a big impact on security. So, whether you choose high-tech tools or stick to the basics, you’ll be making your home here in the Houston, Texas a less attractive target for burglars.  

Call us at 281-255-4444, write us at info@ihsinsurance.net or visit our website www.ihsinsurance.net

IHS Insurance Group has proudly served the Houston are for over 14 years. It is our privilege to offer exceptional service to our neighbors in Tomball, Cypress, Magnolia, Waller, Conroe, The Woodlands, Brenham, College Station and many other communities in the state of Texas!

Content sources used: www.safeco-msc.com, www.travelers.com/resources

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from https://ihsinsurance.net/what-we-offer/homeowners-insurance/the-smart-home-revolution-2019/

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Medicare Advantage Plans May Soon Carry Some Limited Custodial Care Benefits

Historically original Medicare and the replacement plans known as Medicare Advantage plans have only covered medically necessary hospital and Medical benefits with some Medicare Advantage plans covering limited preventative dental and vision benefits.  All that could change in 2020 as new Medicare rules will allow some Medicare plans to integrate various short term custodial care plans within their benefit structure.

Officials at Center for Medicare/Medicaid benefits are giving insurers direction on how to place short term care benefits within their Medicare Advantage plans next year.  Officials hammered out the rules for SSBCI(Special Supplemental Benefits for the Chronically Ill) in a draft letter call for the 2020 bidding process with Medicare and will allow insurers to integrate these benefits from the start of 2020.

Medicare Advantage plans, otherwise known as Medicare Part C plans, combine Hospital, Medical, and prescription coverage into one policy and work as a “Private” alternative to Original Medicare.  There are about 22 million seniors under Medicare Advantage plans as opposed to those still under the original fee for service model for Medicare. These Advantage plans can offer additional benefits not offered under original Medicare like Dental, Vision, and now short term custodial care.  Original Medicare still does not offer these additional benefits and this proposal will not add any new benefits for short term care or dental and vision under original Medicare.

Traditionally Medicaid, which receives federal and states dollars to provide Medicare benefits to the poor and long term care benefits for impoverished individuals, has paid for these services.  In the past Medicare has only covered medically necessary services and not covered custodial care not directly related to Medical care, such as meal preparation, transportation, cleaning or grocery shopping.  In 2019, CMS began allowing insurers to add this type custodial care into their Advantage plans and some carriers have added small amounts of adult day care into their policies for example.

If you have a Medicare Advantage plan you might want to take a second look at your line up in Open Enrollment 2019 to see if any of these additional benefits will be added to your plan or, if there are other plans in your area that might have some of these benefits built into the plan.  Many seniors who have surgeries like knee and hip replacements might be well enough to exit the hospital but not well enough to take care of their physical needs like buying groceries, cleaning the house, feeding animals, or bathing themselves. This is where these short term plans can really come in handy and save you a lot of money should you need them as original Medicare does not currently cover this type of “non-medical” care.

These short term care plans are ideal particularly if you decided to put off the purchase of long term care or decided it was too costly.  These short term plans are a fraction of the cost of traditional long term care insurance and easier to get. The underwriting requirements with these plans are minimal and usually amount to a series of health questions on an application for insurance.  So, if you have a Medicare Supplement with original Medicare or an advantage plan and would like a quote or need to learn more about these short term custodial plans, please give our office a call to speak with one of our licensed and AHIP certified agents at: 855 248 0247.  Or you may complete a contact form and request a brochure or outline of coverage from one of our licensed representatives at no obligation through our website at: https://ihsinsurance.net/get-a-quote/

I H S Insurance Group is an independent agency with an office located in Tomball, TX.  We currently have licenses to transact health and life insurance policies in the following states: Texas, Oklahoma, New Mexico, Tennessee, Virginia, Arkansas, Louisiana, Florida, Missouri, and Arizona.  We hope you found this information useful and do not hesitate to reach out to us if you need any clarification.

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Avoid Deadly Distractions Behind the Wheel

Many people have a limited definition of “distracted driving”: They think it only means texting behind the wheel.

But although texting is perhaps the most dangerous distraction, there are many others that can impact how you drive, whether you realize it or not. And they can be just as deadly.

How deadly? According to the National Highway Traffic Safety Administration and U.S. Department of Transportation, in 2014 more than 400,000 people were injured in crashes caused by distracted drivers – with more than 3,000 killed.

Here are just a few of the things that can distract drivers on the road:

Talking on the phone, even with a hands-free device.

Eating or drinking.

Talking to passengers.

Grooming (yes, there really are people who apply makeup or shave on their way to work).

Reading, including maps.

Adjusting the stereo.

Younger drivers are the most distracted of all – according to the government’s distraction.gov website, people in their 20s make up 38% of drivers who were using cell phones before a fatal crash, and 10% of teen drivers involved in fatal crashes were distracted, too.

With distractions more prevalent than ever – more than 150 billion text messages are sent in the U.S. every month, for example – how can you, and those you love, be safer behind the wheel? Here are a few tips:

Don’t use the phone: This includes texting as well as talking, unless it’s an emergency. Even hands-free conversations can take your attention off the road.

Eat before you leave, or after you get there: Scarfing down that burger with one hand on the wheel means your focus is divided – and you probably don’t have as much control over your car as you should.

Know where you’re going: Nobody likes to be lost. But messing around with your car’s GPS (or the maps app on your smartphone) while you’re moving can lead to something you’ll hate even more – an accident.

Talk to your family about safe driving: Having a conversation with your spouse as they’re driving home? That’s a perfect opportunity to say, “I’ll let you focus on the road; we can talk when you get here.” And if you have young drivers in the household, be sure to have a conversation about their phones and other potential issues, such as their passengers – a key distraction for teens.

Watch for other distracted drivers: Just because you aren’t distracted doesn’t mean that other drivers are focused on safe driving. Stay in control and be vigilant – you’ll be ready to react when someone else makes the wrong move.

Distracted driving isn’t just “one of those things” that happens, like a tire blowout or mechanical failure that isn’t anyone’s fault. It’s 100% preventable – and by committing to avoiding distractions while you drive, you’ll help make the road safer for everyone.

If you are interested in comparison shopping your Auto Insurance Please call us today!  We offer most of the major carriers and can compare coverage levels and prices to find you the best fit for your budget.  

Call us at 281-255-4444, write us at info@ihsinsurance.net or visit our website

Get a Free Quote!

IHS Insurance Group has proudly served the Houston are for over 14 years. It is our privilege to offer exceptional service to our neighbors in Tomball, Cypress, Magnolia, Waller, Conroe, The Woodlands, Brenham, College Station and many other communities in the state of Texas!

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Five Bad Habits That Can Get Your Car Stolen

For most people their car is one of the most valuable assets they own — if not the most valuable. Despite that, some people make it downright easy for thieves to drive off in their pride and joy.

At IHS Insurance Group we don’t want you walking out your door to an empty driveway or walking out of the mall only to find some broken glass left behind in your parking space. So, take care to avoid these five mistakes.

Never Ever . . .

Leave your car running and unattended. It can be chilly in the mornings, and who wants to wait in a cold car while it warms up? Well, a thief certainly won’t mind the chill as he’s driving away in your car. If your car is running, you should be in it! Period. Even if you’re just running over to the ATM to get some cash or dropping off some mail.

Keep a spare set of keys inside the car. Law enforcement agencies say this is a great way to turn a car prowler into a car thief. They’re already breaking into your car hoping to find valuables. What do you think they’re going to do when they find a set of keys? They’re not going to drop them off on your porch with a nice note, that’s for sure.  Whatever little convenience you might feel it provides just isn’t worth the risk!

Leave valuables in plain sight. Seems simple, but we’ve all made this mistake. You’ll just be in the store for a second, after all, so who cares if you leave your smartphone on the front seat? Or items from your other errands in the back seat? Be smart — if you have to leave items in your car, put them in the trunk, or at least hide them as best you can. And do it before you get to your next stop.

Leave your car unsecured. The best thieves can work wonders with a window that’s left open even just a crack. And even the worst thieves can steal a car that’s been left unlocked, with no alarm set.

Assume nobody would want to steal your car. You think your car is too old or too worn out for a thief to bother? Any car that runs is worth money and a car thief is likely more focused on a car they can grab quickly and doesn’t draw too much attention.  So, never assume that your car is theft-proof even if you think it’s just a “junker.”

Keeping thieves away helps to keep your insurance costs down, so avoiding these mistakes not only will save you hassle, it will save you money as well. So stay safe, not only on the roads, but in the parking lots as well!

Five Bad Habits That Can Get Your Car Stolen Contact Us!

At IHS Insurance Group we can work with you to make sure you’ve got the coverage you need, while making sure that coverage is affordable.

Give us a call at 281-255-4444, write us at info@ihsinsurance.net or visit our website www.ihsinsurance.net  

IHS Insurance Group has proudly served the Houston are for over 14 years. It is our privilege to offer exceptional service to our neighbors in Tomball, Cypress, Magnolia, Waller, Conroe, The Woodlands, Brenham, College Station and many other communities in the state of Texas!

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What is a PPO Health Insurance Plan?

Health insurance plans for individuals and families are sold in a variety of plan types.  The most advantageous plan that allows for the broadest based access to providers is a PPO insurance policy.  PPO stands for a “Preferred Provider Organization” and, this type of network allows for you to see any provider in the network for a reduced fee known as a contracted rate.  What really makes the PPO plan remarkable in terms of provider access is the ability for the policy holder to even see providers that are not contracted and “in network”. Using out of network providers is allowed but the insurance carrier would pay at a reduced rate and you would end up owing more to the provider than you would in network.

This freedom to see any provider in or out of the network is truly the hallmark of PPO insurance and is why it is the most sought after insurance plan on the market.  If you or a family member were to come down with a dreaded disease or illness you could literally see any provider across the country with a PPO plan. This is certainly not the case with other types of insurance networked plans like HMO’s and EPO’s.  With HMO and EPO insurance you must see a participating provider in order for the insurance carrier to pay benefits. Otherwise, if the provider is not in the HMO network, the insurance carrier will not pay any benefits whatsoever! Another alarming issue when it comes to HMO networks is the provider choices tend to me much more limited than their PPO counterparts.  Many providers in Texas and other states refuse to accept HMO’s simply because the reimbursement amounts are so low they cannot afford to provide services at a profit.

There are a few EPO networks that are favorable however.  One in particular is United Health Care’s “Choice Plus” EPO network for their new Short Term Plans in Texas and many other states.  This network is identical to the PPO network UHC has had established for many years. The only difference is EPO plans do not pay any out of network charges on your behalf like a PPO will.  The bright spot with this network is there are over 800,000 participating providers across the county which should give you adequate access to some of the best and brightest doctors in the country.  If you’d like to look at any of these short term plans please click the following link. Here you’ll be able to view plans, pricing, and be able to download an outline of coverage for your review before speaking with one of our agents.  However, if you have immediate questions do not hesitate to call us or fill out a contact form for one of our licensed insurance agents to call you at a time when it’s most convenient.

We offer PPO and Short term medical insurance in Texas, Oklahoma, New Mexico, Arkansas, Tennessee, Louisiana, Arizona, and Colorado.

LINK TO SHORT TERM PLANS: https://www.quotit.net/eproIFP/webPages/infoEntry/InfoEntryZip.asp?insuranceTypeID=T&license_no=7EXXNH

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How Does Medicare Cover Common Surgeries?

One of the most common and painstaking procedures Seniors on Medicare will undertake is a joint replacement such as knee or hip replacement.  According to CMS, hundreds of thousands of Seniors annually undertake these procedures across the country and most of them are probably unaware of some of the ramifications in terms of expenditures for medical and non-medic al expenses alike.

Medicare Parts A and B approve charges related to knee replacement surgery but, only if all other medical approved options have been exhausted.  Assuming the replacement surgery becomes the only viable option, Medicare Part A coverage is generally limited to the part A deductible. This means that in order to have the bulk of the expense for replacement surgery covered, this claim would need to be coded as outpatient instead of inpatient.  Part B, which is your Medical insurance portion under Medicare, will pay an applicable co insurance percentage for Medicare approved charges subject to the annual part B deductible of 185.00 for 2019. These charges would cover things like: the surgery, anesthesiologist charges, rehabilitation charges, and the like.

Medicare Supplements or Advantage Plans Could Help Cover Expenses related to knee replacement Surgery

Medicare Supplement insurance plans are designed to go behind your original Medicare and help cover some of the expenses left off by original Medicare for Medicare Part A and B approved charges.  So, a supplement plan may be ideal to assist you in gaping the 20% coinsurance left off by Medicare and could assist in paying some or all of these expenses left off by Medicare for a replacement procedure.  What’s more, a Medicare Advantage plan could also assist in covering all but a few reasonable co pays or co insurance amounts in the event of a knee replacement surgery. However, Medicare Advantage plans have varying degrees of cost sharing and do not always cover the same amounts that original Medicare covers and are networked policies.

Medicare May Cover a Medical Related Event, But Custodial Care is Typically Not Covered

Between Medicare and your supplemental insurance plan, you may get by with paying little if any for medically necessary surgeries like knee replacements.  However, what most people fail to realize is custodial care is rarely covered under original Medicare or Medicare Advantage plans. Suppose you live alone and following a knee surgery need assistance with activities of daily living.  Most people would automatically assume Medicare would cover a home health nurse to come in and prepare meals, feed the dog, and bathe you. The bad news is none of these custodial visits are covered under Medicare! Fortunately the insurance industry has recognized the need for supplemental products designed to cover custodial for recoveries whether they be in the home or in a confined setting.  These policies are designed to be cost effective alternatives for Seniors’ who have failed to plan for long term care expenses by way of a traditional long term care policy. Moreover these plans are portable and are typically written on an issue age basis. This means the rates do not increase as you age so, a 65 year old would still be paying the same rate for this coverage when they are 95 year old.  Of course the insurance carriers could request a rate increase from the Insurance Department but, these increases are infrequent at most.

If you have any questions or would like to learn more about your options under Medicare, please fill out a contact form requesting an email with personalized quote information.  Or, you can certainly call our office to speak with one of our licensed AHIP certified agents. We will be happy to assist you! Our quote and enroll tab under our website will also allow you to see plans and pricing on your own terms before contacting a licensed agent.  We hope you find this information useful and look forward to serving you.

The post How Does Medicare Cover Common Surgeries? appeared first on IHS Insurance Group, LLC.

from https://ihsinsurance.net/what-we-offer/medicare-supplement-insurance/how-does-medicare-cover-common-surgeries/

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Umbrella Insurance Coverage 101: Everything You Need to Know

Insurance of any kind is a proactive step that a majority of people in the US and around the world take to protect themselves and their families. From home insurance to property damage and auto insurance, insurance covers liability claims that might result in case of a devastating event.

But these insurance policies independently have their limitations. This is the moment when umbrella coverage or umbrella insurance comes into play. In a few words, you can say that umbrella coverage is a supplemental insurance policy that goes beyond basic liability policies.

It is a way for you to protect your assets from being wiped out if you have to go through an unforeseen event where you might have to pay more than what your basic insurance policy covers. Let’s take an accident as an example. If you are in a car wreck involving another car that might have suffered injuries and/or damages and you are held responsible for it, umbrella coverage will pay for them up to the limit the policy allows.

For instance, consider that you are held liable to pay 700,000 dollars in liabilities for the other person’s damages and injuries. Your basic insurance policy will cover only $200,000 dollars, which means you’ll have to pay the rest out of your pocket or face legal action. But if you have an umbrella policy in place, it will cover the remaining $500,000. And depending on the limit, it might also cover the legal fees.

This will save you having to wipe off your assets and/or retirement funds to cover the liabilities. Here’s a brief look into what an umbrella policy covers and doesn’t cover.

Brief Overview of Umbrella Policy

In other terms, an umbrella policy is an overarching liability coverage policy that covers liabilities beyond the limitations imposed by a home owner’s or auto insurance policy. One important point to note here is that umbrella policy does not apply to health or life insurance.

What it Covers

Property Damage

An umbrella policy covers any litigation that arises from property damage that isn’t included in auto and homeowners policies. For instance, if your dog breaks an antique at a friend’s place, your kid draws on an expensive painting, or you crash a rental car, an umbrella policy takes care of the liabilities.

Personal Injury

Any damages and injuries that are not covered in the traditional homeowners’ policy, umbrella policy does. For example, if a contractor injures themselves on your patio or you injure someone accidentally in a car crash, umbrella policy pays for the medical bills.

Legal Damages

If you are sued for slander or libel against anything you might have spoken or written to cause injury to another person, umbrella insurance can cover the civil charges. Along with that, umbrella policy also covers any legal fee that comes with a lawsuit.

What it doesn’t Cover

An umbrella policy covers any liabilities and litigation that arises from property damage, injury, and associated legal fees for other’s people’s injuries or property damage. However, there are some limitations to it, particularly when you cause damages to your own property.

For example, if a leak in the bathroom damages the drywall in your own home, umbrella coverage won’t cover it. But if the same leak causes damage to a neighboring house, an umbrella policy may cover the damages.

An umbrella policy also doesn’t cover any malpractice lawsuits, intentional injury or property damage, workers’ compensation claims against you as an employer, and business loss. Also, anything that is covered by a health or life insurance policy is not covered.

In a nutshell, an umbrella policy can help you out if you’re being sued for damages and injuries caused to other people. Since homeowners’ and auto insurance policies don’t cover these liabilities, an umbrella policy can be a savior in those instances.

Umbrella insurance policies are generally sold in $1 million units, with $1 million increments from there onwards. This means that the smallest umbrella policy you buy is worth $1 million. As for the costs for the coverage, it depends on various factors, including where you live, your income, previous lawsuits, driving record and more.

The best way to get an estimate for what an umbrella insurance policy will cost you is to talk to an insurance company. They will take into consideration different aspects and give you an estimate based on that. IHS Insurance licensed experts on the job that can help you there. You can contact them here for a consultation or for any other insurance needs you might have.

The post Umbrella Insurance Coverage 101: Everything You Need to Know appeared first on IHS Insurance Group, LLC.

from https://ihsinsurance.net/what-we-offer/homeowners-insurance/umbrella-insurance-coverage-101-everything-you-need-to-know/