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Medicare  is a fee-for-service health care program for seniors, in which the  government pays health care providers directly for services that fall  under Parts A and B of Medicare benefits (see below). However, if you  are looking for more coverage than Original Medicare, you can purchase  a  Medicare Advantage Plan, Supplement or Prescription drug plan to complement your original Medicare coverage.   

Medicare  is divided into four categories. This allows you to customize your  

personal coverage when making your Medicare decision. 

• Part A (hospital insurance): Covers hospital care, emergency services, nursing home care, home health services and hospice.
• Part B (medical insurance):  Covers medically necessary services and supplies used for diagnosing and  treating medical conditions, and preventative services for illness  prevention and/or early detection. Examples include ambulance services,  mental health care, outpatient procedures and clinical research.
• Part C: Combines Parts A and B and often part D as well.
• Part D: Offers prescription drug coverage.

Original  Medicare offers coverage for services and supplies that are considered  to be medically necessary, such as doctor visits, lab tests and  wheelchairs. There are other plans you can choose from for  additional coverage, and each plan must offer at least the same  coverage as Original Medicare. There are two Medicare plans that we can  assist you with.

1. A Medicare Advantage Plan, also  known as Part C, combines Part A and Part B as a replacement to Medicare  for more comprehensive health care coverage. This plan can be  customized with additional coverage, such as a prescription drug program  (Part D), vision and dental.
2. A Medicare Supplemental Plan,  also known as Medigap, has a higher premium but supplements the coverage  gaps and deductibles that Part A and Part B leave behind.

Open Enrollment for ACA plans is November 1, 2022 to January 15, 2023. Coverage begins January 1, 2023 or February 1, 2023.

What you need to know about healthcare reform
 

The Patient Protection and Affordable Care Act (PPACA), signed into law  in 2010, is predominantly focused on lowering the number of uninsured  Americans and reducing the cost of health care in the United States.

How will health care reform affect you?

• Health care will be available for  individuals with pre-existing conditions. Starting in 2014,  cancellations and non-renewals based on chronic illness are illegal.  This includes both adults and children.
• Preventative services, such as diabetes and blood pressure screenings, will be available at no cost.
• Individuals and families may qualify for assistance with premium costs. 
• Children can remain on their parents’ plan until age 26.
• Small businesses will receive a  tax credit to offset the burden of offering health care in comparison to  larger companies that can afford employee benefits.
• An 80/20 rule will force  insurance providers to spend at least 80 percent of premium dollars on  medical treatment, rather than advertising and executive bonuses. If  they do not meet this requirement, they must offer a rebate to  customers.
• Lifetime and annual dollar limits  on essential medical treatments were phased out in 2014, which means  that consumers will no longer be denied coverage once their medical  expenses reach a certain dollar amount.

  Life's  special events may call for a re-evaluation of priorities.  Life  insurance can provide the added security that you desire for your  family.  
  

There are many kinds of life insurance, but they generally fall into two categories: term insurance and permanent insurance.
 

Term insurance is designed to meet temporary needs. It provides  protection for a specific period of time (the "term") and generally  pays a benefit only if you die during the term. This type of insurance  often makes sense when you have a need for coverage that will disappear  at a specific point in time. For instance, you may decide that you only  need coverage until your children graduate from college or a particular  debt is paid off, such as your mortgage. 

In contrast, permanent insurance provides lifelong protection. As long as you pay the premiums, and no  loans, withdrawals or surrenders are taken, the full face amount will be  paid.

Because it is designed to last a  lifetime, permanent life insurance accumulates cash value and is priced  for you to keep over a long period of time. 

It's impossible to say which type of  life insurance is better because the kind of coverage that's right for  you depends on your unique circumstances and financial goals.

But remember, the best way to figure  out the amount and type of life insurance that makes sense for your  particular situation is to meet with a qualified and licensed life  insurance professional. 

Dental insurance is rather  unique. First, its low cost makes it highly affordable for individuals  and families. Second, because dental insurance encourages and generally  pays for regular check-ups, many people who purchase protection start to  benefit immediately.

Finally, the price of maintaining a healthy mouth  can cost hundreds ... even thousands of dollars. Should you ever need  costly care, from filings and crowns to periodontics and orthodontics,  your dental insurance will be there to provide benefits when needed. 

So,  if you buy dental insurance, you will probably use it. And, like  millions of Americans who have protection, you'll probably be glad you  did.