How proper insurance planning can save a financial life

Breast cancer awareness month, October, is reminding people of the importance of proper insurance in order to protect themselves, their businesses, and their financial wellbeing in the case that they should receive a cancer diagnosis. Current statistics show that one out of every eight women will receive a diagnosis of breast cancer in their lifetimes, and the impact on their financial lives can be catastrophic. The Macmillan Cancer Support Charity’s data shows that among all cancer sufferers, 36 percent must face a significant decrease in their household income following a…

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Medicare supplemental health plans may be facing new limits

Supplemental health plans for Medicare insurance beneficiaries may soon be facing cutbacks as a result of the major reductions being made in the budget as a result of the special U.S. Congress deficit reduction panel. Medigap insurance plans provide additional coverage for many elderly people who have Medicare. These are individuals often live on fixed incomes. They rely on Medigap to protect them from the many deductibles and expenses for which Medicare does not provide coverage. A lobbyist that has been keeping track of the latest “super committee” developments explained…

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Answers you should know to the FAQ’s about Medicare

Though it may feel overwhelming when you are faced with the most common questions to Medicare and Medicare Supplement Insurance, in truth, it doesn’t take hours of research to know what options are available to you. The most commonly asked question is regarding the difference between Medicare Advantage (MA) Plans, and the Original Medicare. The fact is that there are a number of important differences between them. The original plan is government Medicare, whereas MA is private Medicare. The two plans involve comparable out-of-pocket expenses. An MA plan is essentially…

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What consumers can expect from Medigap coverage

According to senior Medicare adviser from PlanPrescriber, Steve Zaleznick, consumers with original Medicare have been watching their insurance premiums steadily climb, and it is recommended that these individuals carefully consider their Medigap supplemental coverage in order to make sure that adequate protection under a less expensive plan. According to the director of benefits access policy of the Washington D.C.-based nonprofit advocacy organization, National Council on Aging, Hilary Sohmer Dalin, Medigap plans are designed to function with the original Medicare plan, and “Medigap wraps itself around Medicare and covers some or…

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