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Home 2017 May
Obamacare Alternatives in CT

Obamacare Alternatives in CT

By Ed Crowe | General Articles | 0 comment | 25 May, 2017 | 0

Obamacare Alternatives in CT

Today’s health insurance market has many looking for Obamacare alternatives in CT.

The federal government requires both Individuals and families to enroll in a qualified health plan.   In fact, those people who choose not to enroll will be subject to a tax penalty.

Access Health CT is the health insurance exchange for the state of Connecticut.  It is also called the state health insurance marketplace.  This site offers insurance options for every individual.  Although, some may qualify for reduced premiums, others may not.  Individuals as well as families looking for coverage outside of  Access Health will want to be sure that the option chosen meets the criteria to avoid a tax penalty.   Below are some options to explore.

Individuals not qualifying for a premium subsidy may choose to purchase traditional insurance directly from an insurance company.  Click here to learn about traditional health insurance plans available in CT.

Another option would be to enroll in a health share plan.  These are not traditional insurance plans, but do work in a similar fashion.  Individuals and families enrolled in a health share plan are exempt from the tax penalty.  Click here to learn more about Altrua Health Share plans.

A third option applies to self-employed  business owners.  Click here to learn more about low cost health insurance plans available in CT.

No matter which route you choose, Crowe and Associates offers the expertise required to navigate the process.  We can answer your questions and advise you which option is best suited for you and your family.  Please email us at Admin@CroweAndAssociates.com or call us at 203-796-5403 to schedule a personal and confidential evaluation.

Guaranteed acceptance term and permanent life insurance

Guaranteed acceptance term and permanent life insurance

By Ed Crowe | General Articles | 0 comment | 25 May, 2017 | 0

Guaranteed acceptance term and permanent life insurance

If you are unsure about acceptance for life insurance, we have the answer for you!  It is called Guaranteed acceptance term and permanent life insurance.

We list below some of the differences between guaranteed acceptance term insurance and permanent life insurance

Permanent Insurance

Some of the advantages to permanent insurance are, it will provide lifelong protection, as well as a way to accumulate a tax-deferred cash value. Unlike term insurance a permanent insurance policy will be in effect as long as you pay your premiums. This policy may not be the best choice for you, because the price and structure are kept over a long period of time.  You may want to choose alternate coverage,  if you don’t have a need for long-term life insurance coverage.

There are some good reasons why some people keep coverage for a long period of time. People sometimes believe they don’t need insurance after they pay off the mortgage and the kids are out of school.  In fact, your spouse may live for many years after your death and will still incur daily living expenses. This is a very real possibility with modern medicine today.  You have to know if your spouse would be able to maintain the life style  that you worked to achieve.  Also, would you want to have something to pass on to your children or grandchildren?

Another advantage to this plan is the cash value.

In fact, cash value or cash-surrender value are terms people sometimes use to describe permanent insurance. These terms are used because these policies not only provide a death benefit to loved ones but also, can build cash value over time.

The cash value of this plan accumulates on a tax-deferred basis.  It is considered similar to the assets in most retirement and tuition savings plans. You can use the cash for anything you want in the future.  Also, you can borrow against the cash value of the plan. You can use the cash either to pay for further education, a down payment on a home,  or to provide retirement income. If you borrow money from a permanent insurance policy, you use the cash value of the policy for collateral. Usually,  the borrowing rates are relatively low.  These loans do not depend on credit ratings or other restrictions, this differentiates it from other financial lending institutions. You are required to repay the loan amount plus interest charges.  If you do not, your beneficiaries will not receive the full death benefit and cash-surrender value.

In fact, if you either need or want to stop paying premiums, you can use the cash value for a limited time to continue your current insurance protection. If you choose to do this, the policy will provide a lesser death benefit amount to your beneficiaries. If you choose not to pay your premiums and surrender your policy, you will receive payment of the guaranteed policy value.  Please note, if you do surrender your policy too early it may have little to no cash value.

Please be aware that the cash value is not the same thing as the face amount.

As with any permanent policy, the cash value of a policy and the policy’s face amount are two different things. The amount of the payment either upon death of the policy holder or maturity of the policy is the face amount. In most cases, permanent policies “mature” when the policy holder reaches 100  years of age. The cash value of a policy is the amount you receive if you surrender a policy either before death or its maturity.  In addition,  your insurance company’s experience or financial results (mortality rates, expenses & investment earnings) can have an affect on the cash value of your policy.  The term Permanent insurance can actually apply to many types of life insurance products if they have the cash value feature

Universal Life rates Examples:

   50 year old male: $10,000 of guaranteed issue Universal Life coverage is $18.77 a month (Example rate)

  60 year old male:  $10,000 of guaranteed issue Universal Life coverage is $22.41 a month (Example rate)
  70 year old male:  $10,000 of guaranteed issue Universal Life coverage is $50.16 a month (Example rate)

Term life insurance

What term life insurance does is provide coverage only during a certain period of time. This type of policy is sometimes referred to as, pure life insurance.  This coverage is in place to protect your dependents in the event of your premature death.  If you purchase a term policy and then die within the term, your beneficiaries receive the payout. Term policies have no other cash value.

When you purchase a policy, you decide how long the policy will be in effect and when it ends. Usually, the terms last for 10, 20 or even 30 years. In most cases, when you purchase a policy,  the death benefit payout, as well as the  premium cost, remain unchanged during the whole term.

Things to consider when you shop for term life:

  • Be sure to choose a policy term that covers the years you would be supporting the household. In the event that you die early you want to make sure your dependents are able to maintain their standard of living.
  • Consider what amount your family would need, if you were no longer there.  The payout would help replace your income so your family can still use the services they need after you are no longer with them.
  • If you plan carefully, by the time the term is over,  your family will no longer need life insurance.  Your children will be grown, you will no longer owe on a mortgage, and you’ll have plenty of savings for loved one’s to use as a financial safety net.

 Comparison of Term life and Permanent life Policies

Policies Offer Term life  Whole life
Choice of policy length ✓
Provides coverage for life ✓
Premium cost stability ✓ ✓
Low premium rates ✓
Guaranteed Life insurance payout amount ✓ ✓
 Cash value accumulates ✓
May offer annual dividends ✓

Price Difference Comparison

Term life insurance is a less expensive alternative to permanent life.  The price for term life is lower because, it is only for a specified time period and  has no cash value. Usually, these policies don’t have to pay your beneficiaries.  Because most people will live past the end of the policy term. In fact,  the premiums for permanent life insurance are significantly higher.   Permanent coverage lasts for a lifetime.  The policy has cash value, as well as a guaranteed rate of investment return on a portion of your premium payment.

If you have questions or would like to enroll in a plan, please contact us.  We can be reached either by phone(203)796-5403 or email Edward@croweandassociates.com.

Applying for Medicare in Connecticut

Applying for Medicare in Connecticut

By Ed Crowe | General Articles | 0 comment | 25 May, 2017 | 0

Applying for Medicare in Connecticut

This post will try and give you some help when you are applying for Medicare in Connecticut.  This can be overwhelming for some people.  We want to make it easy for you.  If you are 65 years old, or are under 65 and qualify for Medicare because of a disability or other special circumstance, you are eligible for Medicare.  (Note:  You must be a US citizen or a legal resident for at least 5 consecutive years to be eligible for Medicare.)

Apply for Medicare can be done online by CLICKING HERE.  You can also enroll by phone at 1-800-MEDICARE.  Or, you can enroll in person at your local social security office.  You can call 1-800-772-1213 for help locating your local social security office.

 

Click here for more details regarding choosing a Medicare plan in CT.

UnitedHealthOne Dental Plans

UnitedHealthOne Dental Plans

By Ed Crowe | General Articles | 0 comment | 25 May, 2017 | 0

UnitedHealthOne Dental Plans

Crowe and Associates is offering it’s clients the opportunity to purchase Dental insurance with UnitedHealthOne Dental Plans, so you will have one less thing to worry about.  The dental plans we are offering are either a PPO or an EPO.  When it comes to finding dental coverage that fits your unique needs and budget the UnitedHealthOne Dental Plan gives you the coverage you need at a price you can afford.  The newly expanded dental products have many features that will keep you smiling.

There are 4 new plan types to choose from.

UnitedHealthOne provides coverage for preventative and basic as well as major services.

Vision benefits are also available, if you want to add that option.

Additionally, you will have access to an extensive dental network.

The PPO plan is in the Solstice PPO Network and is available in all 50 states.

The EPO plan is the S500A network and is only available in NY, NY, CT and FL.

Please click on the links below for more information on the dental plans we are offering.

 Brochure CT Dental for Individuals and families UnitedHealthOne

Dental Application Individuals and Families CT UnitedHealthOne

Brochure for 50 and over- CT UnitedHealthOne

Dental 50+ Application CT UnitedHealthOne

If you have any questions or would like to enroll in one of these plans, please either call us at (203)796-5403 or email us at Edward@croweand associates.com.

Short Term Medical Plans

Short Term Medical Plans

By Ed Crowe | General Articles | 0 comment | 25 May, 2017 | 0

Short Term Medical Plans

The information in this post will help clients who may need Short Term Medical Plans. UnitedHealthOne is offering short term coverage for anyone who finds themselves without insurance.

Short Term health insurance is sometimes called either Term health insurance or Temporary health insurance. This type of insurance is made to bridge gaps in your health care coverage  when you find yourself without insurance for any reason.

Who needs short term health insurance coverage?

Short Term health insurance plans can help when:

  • You are being either aged out or told to get off of a parent’s insurance plan.
  • You are currently in-between jobs.
  • Somehow you have missed Open Enrollment and do not have a qualifying event for Special Enrollment.
  • Maybe you have to wait for your Affordable Care Act (ACA) coverage to begin.
  • A college student or perhaps you have just graduated from school.
  • If you started a new job and you are waiting for benefits to begin.
  • You may be waiting for  your Medicare benfits to begin.
  • When you need an alternative to COBRA insurance.
  • If you lose coverage due to a divorce.
  • If you are not yet old enough for Social Security benefits and are in good health.

These policies are offered through the Golden Rule Insurance Company, which has been part of UnitedHealthcare since 2003.  They have been in the personal insurance business for more than 70 years. For more than 30 years, this company has sold Short Term insurance policies.

Short Term Insurance Plans are not ACA compliant

Because, these types of insurance plans do not meet the minimum coverage requirements under the Affordable Care Act (ACA or Obamacare) you may still receive a tax penalty for not complying with the standard. These plans are for use only to provide temporary health insurance during coverage gaps. If you would like to avoid the risk of a penalty, you should apply for an ACA health insurance plan as soon as you are able

Click Here for Short Term Brochure United HealthOne

United HealthOne Short Term Medical Rate calculator United Health One

For Short Term Height Weight Chart United HealthOne click here

Click here for Short Term Application CT United HealthOne

If you would have questions or would like to apply for coverage, please contact us either by phone at (203)796-5403 or by email at Edward@croweandassociates.com.

United Hospital Indemnity Plan

United Hospital Indemnity Plan

By Ed Crowe | General Articles | 0 comment | 25 May, 2017 | 0

United Hospital Indemnity Plan

Because of the high cost of medical care, especially a hospital stay,  we are now offering our clients the United Hospital Indemnity Plan.

Both the Hospital SafeGuard PremierSM  plan and the Hospital SafeGuardSM  plan can help fill some of the gaps in your health coverage.
These plans provide cash to help you pay both the deductible and non-covered expenses you incur from a hospital stay.

When you choose either a Hospital SafeGuard PremierSM or  a Hospital SafeGuardSM plan:
You will receive benefit payments that you can use in any way you choose. There are many options, you could either save them, pay medical bills, or even pay expenses you incur because you are away from your job.  The payment is not limited by provider networks.  Your payment remaine the same no matter which provider you use.  In fact, you will not have to meet any deductible before you receive payment.  These plans are available to your whole family. The plans are guaranteed renewable up to the age of 65.

Would a hospital stay be a financial burden to you or your family?

Did you know that the average length of a hospital stay in 2010 was almost 5 days?  The cost for inpatient care  per day was almost as high as $2,000.
This large expense could have lasting effects on your family’s budget and cause some people a real hardship.
Hospital SafeGuard PremierSM or Hospital SafeGuardSM pay you cash benefits for eligible hospital inpatient as well as ICU admittance.  These plans are not a replacement for your regular health insurance. You can  purchase these plans to have that extra safeguard against unforeseen illnesses.

Both plans are easy to use.

If at any time you receive qualified medical care,  all you have to do is, fill out the claim form, your carrier provides you.  Submit the forms along with copies of your receipts. Your carrier will then send you a reimbursement check for the fixed amount as long as they do not exceed the calendar year maximum.

Please note, You must have ACA minimum essential coverage to qualify for either Hospital SafeGuard PremierSM or Hospital SafeguardSM.
If you decide to purchase Hospital SafeGuard PremierSM, you may be disqualified from making tax-deductible contributions to a Health Savings Account. Check with your accountant to be sure about the current tax laws.

Please click on the links below for more information or an application.

Hospital SafeGuard Premier Plan Information

Hospital Safeguard CT Application

UnitedHealthOne Vision

UnitedHealthOne Vision

By Ed Crowe | General Articles | 0 comment | 25 May, 2017 | 0

UnitedHealthOne Vision

Crowe and Associates is offering clients  a vision plan called UnitedHealthOne Vision. The Vision plan offered is Davis Vision and it is available in all 50 States.

Your eyes are the windows to your health.  Eye exams can help your doctor maintain your vision with the use of either glasses or contact lenses.  They can also detect health conditions such as, glaucoma and  diabetic eye disease as well as high blood pressure and cholesterol.  Keep your vision clear by signing up for  a United Healthcare vision plan. Get the coverage you need for eye exams, glasses and contact lenses, with no waiting period.

There is a $10.00 copay for in-network eye exams.  They cover both glasses and contact lenses once a year.  There are no age restrictions for these plans.

Connecticut Rates:

  • Plan A monthly premium rates: $11.40 for primary insurance, additional $7.20 per month for each dependent.
  • Plan B monthly premium rates: $15.70 for primary insured, additional $9.90 per month for each dependent.

If you would like more information about the vision plans, please click on the link below.

United Health Care – Vision Only Brochure

 

If you would like to either enroll in a plan or speak about this further, please call Ed Crowe at (203) 796-5403 or email at Edward@croweand associates.com.

Petersen Short Term Health Insurance

Petersen Short Term Health Insurance

By Ed Crowe | General Articles | 0 comment | 25 May, 2017 | 0

Petersen Short Term Health Insurance

Because sometimes life is unpredictable, you may find yourself suddenly without health insurance coverage. For that reason, we now offer Petersen Short Term Health Insurance  plans to our clients.

This Short Term Medical plan is designed to be as easy to use as possible.   There are no co-pays and you do not need to have coinsurance. When you sign up for the plan you simply fill out a one page application. You will not have to answer any medical questions. Each policy is designated per person for both the maximum and  the deductible, for each policy period. There deductibles range from either $100, $250, $500, $1,000, $2,500, or up to $5,000. The insurance policies can go into effect as soon as the day after you submit your application.  The policies give clients a maximum policy period of 3 months.  This is the longest term available for Short Term Medical coverage.  Because the monthly premiums are so affordable for the Short Term Medical plan, anyone can get quality healthcare.

 

 Petersen Short Term Health Insurance  is a temporary health insurance plan for people between the ages of 2 weeks  and up to 64 years.  The plan covers eligible expenses caused by either an illness or injury for which you receive treatment from any doctor or any hospital within the USA.  All your expenses are applied to your deductible.   In fact, when you meet your deductible, the policy covers %100 of your approved medical expenses up to $1,000,000.

Clients are insured through a National PPO Network:

First Health gives clients access to a very large provider community.  This includes more than  5,000 hospitals, over 90,000 ancillary facilities, as well as over 1 million healthcare professional service locations.  Clients will have access to both an on line portal and a toll-free telephone number. This  helps you locate providers in your local area.

Here is a list of possible medical expenses that this policy covers:

  • Hospital Expenses
  • Physician Services
  • Skilled Nursing Facilities
  • Home Health Care
  • Ambulance Services Expenses
  • Prescription Drugs
  • $25,000 Accidental Death

If you would like to apply for Petersen Short Term Medical Health Insurance please click the link below

Click here to download  brochure for Short Term Medical

Petersen Short Term Health  Application

Medicare Part D Income Penalty 2017

Medicare Part D Income Penalty 2017

By Ed Crowe | General Articles | 0 comment | 25 May, 2017 | 0

Medicare Part D Income Penalty 2017

This post will explain the Medicare Part D Income Penalty 2017.

The cost of your Medicare Part D coverage will go up if, you reported an adjusted gross income of over $85,000. for a single person on your IRS tax return from 2 years ago.  For couples, your cost rises if the income you reported on your IRS tax return two years ago equaled more than $170,000. The income that Medicare uses to assess your Part D cost is your adjusted gross income as well as any other type of tax-exempt income you may have.

In fact, The rate you pay will change according to how high your income level is. The more income you have, the higher your premium for Part D coverage will rise.  Your normal part D plan premium payment will stay the same and you will continue to use the same payment method.  Medicare will automatically deduct any additional premium charges you receive directly from your Social Security check.  Medicare will send you a bill only if the additional premium amount is more than your Social Security check.

The additional premium uses a calculation that starts with the national base beneficiary premium of $35.63 for 2017. Below we have listed some examples of the rise in premium cost levels for Part D. The examples will help you figure out how much more you will pay for Part D coverage in 2017. Additional costs will not apply unless, your income is above the specified amounts.

 Additional premium costs for Medicare Part D in 2017, as calculated by income level as follows:

 

Individual – Adjusted Gross Income – Couples – Adjusted Gross Income –  Additional premium cost
 $85,000 or less  $170,000 or less $0.00
$85,001 up to $107,00 $170,001 up to $214,000 $13.30
$107,001 up to $160,000 $214,001 up to $320,000 $34.20
$160,001 up to $214,000 $320,001 up to$428,000 $55.20
Amounts Over $214,000 Amounts Over $428,000 $76.20

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Online Enrollment- Enroll prospects online without the need for a face to face appointment. Access to all major carriers with the ability to compare plan benefits and prescription drug costs. Link to recorded webinar https://attendee.gotowebinar.com/recording/2899290519088332033

All agents receive a personalized enrollment website. Prospects can use the site to compare plans, check doctors, run drug comparisons and enroll in plans. Agents are credited for all enrollments. Click Here

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