October 1st, 2016
10am - 1pm
Accent Insurance Group
Spring Hill Location
We would love to see you at our open house! Come enjoy food, music, games, and prizes. Call 352-666-7373 for more information or to RSVP.
These days, there are numerous types of plans offered by insurance companies for health coverage. With titles like HMO, PPO, and EPO, it’s difficult to decipher what they mean and which type of plan is best suited for you. In this first part of our series we have outlined the basic features of a typical HMO.
Health Maintenance Organizations (HMOs), were one of the first contemporary managed care plans. They are characterized by a network of providers within which members can receive covered care (with certain exceptions outlined in the policy).
If you are a member of an HMO and receive care within their specified network, there is no need to file claim paperwork. However, if you receive emergency care outside of the network a claim may need to be filed in order to receive coverage.
Members will pay a premium (usually monthly) to belong to the organization. Health Maintenance Organizations typically do not charge deductibles for care received in their network, but most plans do charge a modest co-pay for each visit (for example $15 or $30). Because they emphasize preventative care, HMO’s often cover annual physicals and well checks at no charge to the member.
Each member must have a Primary Care Physician (PCP) within the HMO network. This is an important part of the HMO system as a member will need a referral from their PCP in order to see a specialist in most cases.
Of course, it’s always best to consult your Accent Agent when thinking about joining a new plan. We can help you determine which type of plan best fits your life.
For a lot of people, the first thought you have about purchasing a life insurance policy comes after a life-changing experience like marriage, having your first child, or maybe even witnessing a friend struggle financially after the loss of a loved one. Once you’ve decided to protect your family with life insurance, you will probably have a lot of questions. We hope to help you answer some of the most popular questions our first-time clients have.
Why Do I Need Life Insurance?
Life insurance is a financial safety net to support your spouse, children, or other loved ones after you pass. From funeral expenses to replacing the income you brought into the family, life insurance is a good way to secure your family’s future.
What Do All These Terms Mean?
There are a lot of words and phrases you may come across when looking for a life insurance policy. Check out this link for more information on these terms: Life Insurance Lingo
What Type of Policy Should I Get and How Much Will My Family Need?
There are two basic types of life insurance policies. Term Life is valid for a certain number of years (usually somewhere between 5 and 30). These policies expire at the end of their term but have cheaper premiums. In the event that you pass within the term, your family will receive the benefits. Whole Life policies are permanent and are valid from the start date until you die. These policies are more expensive but are guaranteed to payout upon your death. As far as how much you need, that can vary from person to person. Take into consideration how much income you bring home to your family, how many children you have, and how long your loved ones will need to be supported.
Who Should I Talk To About My Policy?
You should always consult a professional who can guide you to the right policy and company that will best suit your individual needs. Every situation is different but our agents are willing and able to sit and talk with you about your options and make sure that your family is protected.
The world of life insurance has a lot of terms that you might not have heard before, and that’s ok! Here are some basic terms you will probably come across while you research life insurance. Add them to your vocabulary to better understand your policy!
Beneficiary- The person or persons named in the policy to receive the benefits upon the death of the insured. For example, if you purchase a policy you might choose to have your spouse, children, or other family member or friend to be the beneficiary. This person would collect the insurance proceeds after you pass. You may list anyone as a beneficiary on your policy.
Cash Value- The amount that may be borrowed or withdraw from a policy. This is a feature of certain permanent life insurance policies.
Death Benefit- The amount a policy will pay out in the event of death of the insured individual.
Evidence of Insurability- A statement or proof regarding a person’s physical condition, occupation, and so forth, affecting acceptance of the applicant for insurance.
Premium- This is the amount you pay periodically to retain your policy. These payments may be collected monthly, quarterly, or annually depending on the policy.
Rider- Any supplemental agreement attached to and made a part of the policy, whether the policy’s conditions are expanded and additional coverages added or a coverage of condition is waived.
Term Life Policy- A policy that has a limited term (for example, 30 years).
Universal Life- Flexible premium, two-part contract containing renewable term insurance and a cash value account that generally earns interest at a higher rate than a traditional policy. The interest rate varies.
Whole Life Policy- A policy that does not have a limited term and is valid from the start date until death.
These are just the basics of Life Insurance Lingo. For any questions, contact an agent today!
Come support a great event benefiting HUGs, a local charity that assists families with cancer. 100% of proceeds benefit Marion County families with children currently fighting cancer. It's a great cause and we hope to see you there!
Choosing a Medicare Advantage plan can be a daunting task. Each insurance company offers a variety of plans coverage options. How do you decide which plan is the most efficient? There are several things to take into consideration when making your decision.
Cost is probably one of the first things that will attract or deter you from a plan. Consider how much you will pay out of pocket for premiums and deductibles.
Aside from cost, you need to take a look at the plans benefits. Some plans cover services like eye and dental exams while others don’t.
The next thing to examine is the plans prescription drug coverage. Make sure that any prescriptions you use are covered under the
plan’s formulary. If you are already using a specific pharmacy you’ll want to be sure they take your plan as well.
Choosing a plan that is accepted by the doctors and hospitals you prefer is also important. Do you have to remain within a plan's network? Will you need a referral to see a specialist?
It may seem intimidating when you first start looking for a Medicare Advantage Plan, but our agents at Accent Insurance Group will help guide you to the perfect plan to fit your life.
16176 Cortez Blvd, Brooksville
Saturday, April 9th 10am-2pm
Free
https://www.facebook.com/events/226625571013626/
We had a great time representing Accent Insurance Group at the Classic Car Show this week just a few miles from our Spring Hill office. A group of car enthusiasts meet here every Thursday night to show off their rides. Check out the details below and maybe we'll see you there some time!
Hardee’s 6292 Commercial Way Weeki Wachee, Florida
Every Thursday, 5pm-8pm
Free
What are you doing to ensure the well-being of your loved ones after you pass? Life insurance is a great way to make sure that your family has a financial safety net to fall back on when the time comes. There are several different options when it comes to choosing a life insurance policy, so how do you know what will be best for you?
First you need to understand what type of policy you need. Term Life policies last for a specific period of time ranging from 5-30 years. They are less expensive and expire after the term has ended. However, if something were to happen within the term of your policy, your family is covered. The other option is Whole Life. These policies are in effect from the day your policy starts until you die. These plans are more expensive because they do not expire, however they are guaranteed to benefit your loved ones after your passing.
You also need to decide how much life insurance you want to buy. Consider the potential needs of your loved ones. There is not a textbook answer that applies to everyone. Think about what the annual expenses for each family member are. How old are your children? How long will they need to be supported until they grow up and become financially independent? Take the time to calculate these needs and make sure your family will be financially stable.
No matter what your life insurance needs are, our Agents at Accent Insurance Group will be with you every step of the way to ensure the financial stability of your loved ones.
Part A, Part B… Parts C and D. Talk about confusing! Don’t worry; we’ll break Medicare down for you so it’s easier to digest.
Original Medicare (Part A and Part B):
Part A (Hospital) - Medicare Part A covers costs associated with in-patient hospital care as well as skilled nursing facilities as long as it is for rehabilitation services. It also covers drugs that are a part of your inpatient course of treatment. However, it does not cover doctors’ fees associated with your care. There is no monthly premium for Part A but there are deductibles and co-insurance fees.
Part B (Medical) – Medicare Part B is used to cover doctors’ fees, related to necessary medical procedures as well as preventative care. It can also be used to help cover the costs of medical equipment and supplies. There is a monthly premium for Part B as well as an annual deductible.
Other Options and Add-Ons:
Part C (Medicare Advantage
Plans) – Medicare Advantage Plans work similarly to how individual health insurance does. These are offered by private insurance companies. They typically cover what original Medicare does but come with tons of added benefits like vision, dental, hearing, and prescription drug coverage. This is a great option that covers Parts A, B, and D all under a single plan.
Part D (Prescription Drug) – These plans help offset the cost of prescription drugs. They are offered by private insurance companies. Each company will have a list of drugs they covered called a formulary. In general, you need to look over the formulary and choose a company that covers the prescriptions that you have been, or expects to be prescribed.
Medi-Gap – These are supplemental plans offered by private insurance companies that cover what Original Medicare (Parts A and B) doesn’t. They do not cover prescription drugs and you cannot be enrolled in both Medi-Gap and Medicare Advantage Plans.
Switching to Medicare can be a puzzling experience but it doesn’t have to be! Our knowledgeable agents at Accent Insurance Group are here to help make your transition easy and as stress-free as possible.
