Health, Medicare and Long Term Care

 

 

 

Turning age 65? Over age 65 and just leaving your group benefits because of your decision to retire? Consider yourself in luck and on your way to benefits you may very well appreciate, Medicare! Remember your contribution during your working career towards medicare? Well those contributions will reduce costs you may normally be used to paying for your individual or group health insurance plan pre 65. Medicare is broken down into four parts:

Allow the professionals at Bellara & Associates to help navigate your way through the medicare alphabet soup. Our approach helps you enroll in your part A & B through medicare and then we'd take some time to analyze which road to cover the additional gaps should come from, supplemental insurance purchased by private insurance carriers including a part D plan or if Medicare advantage inclusive of a Part D plan is most suitable. Things to consider when electing which plans and carriers would be most suitable for you would be lifestyle, hobbies, traveling plans and desires, level of care needed and costs for care as well as scripts currently needed will all play a role in which carrier may be most appropriate.

 

 

Currently Retirees most wealth eroding factor is due to the cost for custodial care in the event non skilled nursing is required. Long term Care is an insurance vehicle that can allow protection for your assets in the event you or your spouse cannot perform your activities of daily living: transportation, Eating, Toiliting, Constinence, bathing, and Dressing! Americans have seen an abundance of care needed later in retirement ages in which have had significant impact on their cash flow and assets. Long Term Care insurance allows you to decide where you'd like to be taken care of, a facility or even 100% at home! The national average for care needed around the clock in a facility can range well over 100k annually, Long Term Care insurance can provide coverage for those annual fees for a fraction of the dollar.

 

Amar Bellara, LUTCF, Principal owner and Founder of Bellara & Associates LLC, licensed in eight states currently including CT, NY, MA, MD, NJ, OR, FL, and RI, has been in practice since 2006. As a professional in the insurance services we look to protect households and corporations Income, Assets, and Lifestyle! Our approach to making insurance decisions should be holistically viewed based on your financial goals, cash flow needs, and level of coverages desiered. We create a science to evaluate your insurance needs however the final verdict is truly yours! As a leader in the insurance field, Bellara & Associates are equipped to handle individual and family planning cases as well as small and large company fringe benefits. If Legislation changes certain requirements regarding products, processes, or dollar output, call upon Bellara & Associates to help sort through making your firm and/or household compliant!