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True Freedom Home Care Service Plans

True Freedom home care service plans are designed for consumers who are not currently in need of care but could be classified as in “declining health” which would prevent them from being able to secure a traditional plan.

While loved ones will have the best intentions to be there for a family member who needs assistance, many are not prepared and quickly become overwhelmed by the amount of work involved in giving care.  Traditional home health care insurance is an option for such services.  However, it is limited to only the extremely healthy, creating challenges for many that do not qualify.  True Freedom plans are a viable alternative to traditional home health care insurance.  These plans support seniors with their regular activities while providing independence and privacy with at home care

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Medicare Excess Charges Connecticut

Medicare Excess Charges Connecticut:    Medicare excess charges or sometimes called excess billing is applied by doctors that do not accept Medicare assignment.  A doctor who chooses not to accept assignment is able to bill a patient 15% over the allowable Medicare charges.  However, Those providers are not able to bill over Medicare allowable limit on all charges.  Some items that providers cannot use the excess charge on include Durable Medical Equipment. This is true even if they are not accepting assignment.   Non par is another way of saying that the doctor does not have to accept the Medicare contracted price for services.   You should not confuse Non par with a Medicare opt out.  An opt out is when a doctor does not participate with Medicare.   Medicare will not provide any coverage for services rendered by an opted out physician or facility.

Be very careful when you ask a provider if they “take” your insurance!

You might think, if the provider says that they “take”  your insurance they participate with your insurance carrier.  This is not always the case. This only confirms that they will accept payment from your insurance company and they may submit your claim for you.  It does always not mean that they  have a contract with your carrier.

If you want to be sure, you should always ask healthcare providers if they are contracted as a participating provider with your insurance carrier.  Unfortunately, there are some providers out there who will mislead you with their wording in order to get your business.  This is more common than you would think. For this reason you must ask the right questions to avoid costly situations.  Your carrier cannot protect you from any carrier they do not have a contract with.

Fortunately, Connecticut does not allow excess charges or billing from doctors that are non par.  Some Medicare supplement plans cover excess charges.    That benefit is not necessary in CT and should not factor into deciding which plan you should choose.

Click here to access the government site on Medicare.

If you have questions or need additional information regarding your current or future Medicare needs, call the office at 203-796-5403 or email us at admin@croweandassociates.com.  Allow us to use or many years of experience and in-depth knowledge of all Connecticut Medicare plans and providers to help you navigate the Medicare process.

Medicare Assignment

Medicare Assignment:  Doctors who don’t accept assignment may charge you more than the Medicare approved amount.  Although, they can not bill more than 15% over the Medicare approved amount.  This is called the “limiting charge.”  The limiting charge applies only to certain services. It  does not apply to some supplies and durable medical equipment (DME).  When you purchase certain supplies and DME, Medicare will only pay for them if the suppliers are enrolled in Medicare.  It does not matter who submits the claim  either you or your supplier.  Some states do not allow excess billing even if a doctor is not accepting assignment.  (Connecticut is a good example)

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Medicare A and B Benefits

Medicare A and B Benefits become available to most people when they turn 65.   Other people become eligible due to a state disability after 2 years.   Most people are automatically enrolled in Part A and pay no premium for it.  In fact, the majority of people (if they are drawing social security payments) are enrolled in part B.  In most cases, there is a cost of 104.90 a month for each person who is enrolled.  Some people pay more for part B, this amount is based on their income.  In some instances if you qualify for assistance, there will be a lower cost to no cost for Part B coverage.  This is also based on your income level.    You must apply through your state for this assistance in order to qualify for it. Read more

Best Growth Annuities For 2015

Companies are offering a number of fixed indexed annuities with uncapped strategies for 2015.   Given the similarities between the various uncapped options it can be hard to tell which companies are offering the best growth annuities for 2015.  Although the options with uncapped growth annuities seem endless, they all are relatively similar.  The key if identifying the common components of indexed annuities and comparing them between the companies.  A list of the key areas is provided below. Read more

Annuity Income Rider:  Payouts Can Differ

When purchasing an annuity with an annuity income rider, it is important to understand that payout amounts can differ based on the issuing company’s policy. Because payouts can differ between companies, it is important to choose the right company before you invest your money. Below are payout overviews from both Nationwide and Genworth so you can compare the two.  This way you can make a more informed decision. An informed consumer is a smart consumer.  We want to give you any and all the information you need to help you feel comfortable with your choices.

Nationwide’s  annuity growth is based on interest earned.  However, once income starts that income amount remains in effect for life.  Therefore, a 55 year old making a $100,000 deposit, taking income in 10 years would receive $9,905 annually.  This income would start from age 65  and continue through age 75. These payments would add up to a total payout of $108,955.

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Cigna Medicare (Loyal American) Plan G

Cigna Medicare plans allow participants to use any healthcare provider that accepts Medicare; no referrals required. That is one of the reasons Cigna Medicare (Loyal American) Plan G may be the right fit for your insurance needs.  Please read the plan details below and decide if this is the plan you need to get the coverage you want.

Medicare plan G allows for basic benefits, covers the Part A deductible, includes emergency foreign travel coverage and some Part B excess coverage for a moderate monthly premium (Connecticut Monthly premium for 2015 is $219.54). Read more

Market Linked  CDs – Secure 12.4% Average Yield

Market linked CDs offer the protection of a traditional CD as well as the security of being FDIC insured.  These Market Linked  CDs – Secure 12.4% Average Yield  give clients a more attractive rate of return versus bank issued CDs. This is a great option if you want a higher rate of return on your investment. Crowe and Associates would like to help you make the most of your money.  The better investments you make the happier you will feel when you think about your retirement.  In fact, you will be able to do more of the things you always wanted to do!

In general:

Market linked CDs have an unlimited interest earning potential as variable interest can be unlimited (depending on the product).  They offer a return of 100% of  your deposit when they mature.  In fact, these CDs are FDIC insured up to at least $250,000 per bank.  MLCDs pay the greater of either fixed or variable rate interest.  They offer fixed interest rate products that pay minimum 1% annually.

Market lined CD issuers include JPMorgan, Barclays, Goldman Sachs and Bank of the West.

MARCH  2015 RECOMMENDATION

• Goldman Sachs 7 Year Multi-Asset Index Linked CD
• At maturity this MLCD will pay 200% of the point to point MOBU index gains
• Best Case Scenario = 100% of your deposit back + unlimited upside potential
• $100,000 invested in this CD 7 years ago would be worth $186,800 today (12.40% APY)
• Worst Case Scenario = 100% of your deposit back

If you want to learn more about how to invest in a Market Linked CD, either contact the office at 203-796-5403 or via email at admin@croweandassociates.com.  We are always here to help you with any investment or insurance need you may have.  Please feel free to contact us with any question or concern you have.

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Access Health Special Enrollment Period – April 1 – 30, 2015

Access Health CT has announced a special enrollment period from April 1 through April 30, 2015.  This special enrollment period is intended to allow both individuals and families the opportunity to enroll in coverage in 2015.   This is a chance for people who did not have health coverage in 2104 and are now subject to a federal tax penalty to get the coverage they need.

Although, individuals who do not qualify for an exemption from Access Health and went without health care coverage in 2014 will have to pay a penalty.  The penalty is $95 per adult or 1 percent of their income, whichever is greater.  This amount is added in when they file their taxes this year. Additinally, the tax penalty will increase to $325 per adult or 2% of income for the 2015 calendar year.

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