The New Year is a time when many people pledge to lose weight and be more organized, but it's also a good time to resolve to better protect your family's home and belongings with an annual homeowners insurance review. 

Why is a yearly check-in with your insurance agent important?
THE BENEFITS OF AN ANNUAL INSURANCE REVIEWMany homeowners purchase an insurance policy when they first move in, but they may not understand the importance of periodically reviewing it or reassessing their needs. It's an oversight that can ultimately lead to a gap in their coverage. 

For instance, you may have insured your home for $200,000 when you first bought it. A decade later, your home may cost $300,000 to rebuild. That's a $100,000 gap in coverage—which could leave you without the proper resources to rebuild in the event of a loss. 

A home renovation or upgrade is another reason you may want an insurance review. It can help ensure that your home and belongings are fully protected, and that your coverage is keeping up with your current needs. Everything from new furniture to a kitchen upgrade can affect the value of your family's home, and may even qualify you for additional discounts on your insurance policy. 

One way to evaluate your needs is to conduct a home inventory, a detailed catalogue of all your possessions. 


TIPS FOR TALKING WITH YOUR INSURANCE AGENTDespite what you might think, though, an insurance review doesn't have to be an involved, time-consuming endeavor. A single conversation or a visit with your agent can help make sure that you're knowledgeable about your coverage and comfortable that your limits are meeting your current needs. 

Here are some ideas on what you might want to discuss:

• "Does my policy provide enough coverage to rebuild my home today?" 
  Many homeowners are surprised to learn that their policy is outdated and does not provide sufficient coverage to rebuild their existing home. Changes in construction costs (they can vary from year to year), upgrades to a kitchen or bathroom, new kitchen appliances, or updates to a basement can all affect the cost to repair or rebuild your home. For example, new finishes in your kitchen can change your existing kitchen from "standard" to one that's considered "semi-custom" or "custom." Since insurance companies replace lost items with "like kind and quality," it is important to estimate the full cost of replacing finishes, appliances, electrical systems and plumbing systems in determining your coverage.


• "How does a newly finished basement affect my policy?"
  A finished basement may not only increase the cost to rebuild your home, but it may also require additional coverage to protect items from water damage. For example, optional water backup coverage will help protect new furniture and carpet in your basement if a sump pump breaks or a drain backs up.


• "Does my policy provide enough coverage for landscaping or outdoor appliances?"
  Installing a new sprinkler system, a larger storage shed, a new pool or hot tub, or buying a substantial backyard grill or riding mower are outdoor changes that may require a homeowner's policy upgrade. Updating landscaping and purchasing new lawn equipment or outbuildings can be significant investments that should prompt a coverage review.


• "Do I need extended coverage for valuables?"
  Your existing policy provides standard coverage for your home and belongings, but this coverage may not be sufficient for all your valuables and is frequently overlooked. For instance, you may need additional coverage for wedding rings, valuable golf clubs or other sports equipment, family heirlooms and antiques, musical instruments or artwork in your home. If you have a new home office that you run a business from, you might consider extended coverage to protect your business property.


• "Do I qualify for discounts?"
  An annual insurance review can also be an important opportunity to ensure you are receiving all possible discounts on your homeowners policy. For example, you may qualify for a discount if you have installed a security system, a smoke alarm or a hail-resistant roof. Additional discounts may apply if you insure both your car and home with Allstate, if you don't have any claims, or if no one in your household is a smoker.

If you’re approaching the age of 65, in addition to considering life without an alarm clock, you need to consider your health insurance options very carefully.  A form of Medicare most likely will be your main health insurance.
Because there are so many options, it can be complicated.  I’ll break the basics down and share some resources to help you make the right decision.
Don’t wait to think about your options!  When you turn 64, here is a great month by month checklist  of things to consider.






THE BASICS 

• Medicare is a federal insurance program. To qualify you must be 65+, under 65 with a disability or have an end-stage renal disease.
• According to Medicare.gov, if you don’t enroll when first eligible you may pay a penalty and have a gap in coverage. An exception to this is if you have other credible coverage like a health insurance plan from your employer.
• You can keep Original Medicare only (the Federal program) and in addition, you may purchase a Medicare Supplement plan to help with the copays and deductibles that Original Medicare does not cover.
• You can replace Original Medicare with a Medicare Advantage plan (from a private insurer who has a Medicare contract to administer benefits). Many do this because of the additional options they offer.
• This year’s open enrollment to purchase a Medicare Advantage or Part D plan (prescription drug coverage) is Oct. 15 – Dec. 7.

THE OPTIONS
MEDICARE PART A AND B PLANS (ORIGINAL MEDICARE)This is what we call original Medicare which the government administers.  The premium is deducted from your monthly social security check.

• Medicare Part A covers inpatient hospital stays, skilled nursing facilities, hospice care, and some home health care.
• Medicare Part B covers certain doctor services, outpatient care, medical supplies, and preventive services

You will not have copays but will be required to pay coinsurance. Medicare will pay 80 percent of the medical expenses approved by Medicare while you will be responsible for the remaining 20 percent.
Original Medicare does not cover most prescription drugs or other services private insurers may offer.
MEDICARE SUPPLEMENT (MEDIGAP)A Medicare Supplement (Medigap) policy is an additional option when purchasing Original Medicare. It’s sold by private insurers and helps pay some or all the health care costs that Medicare doesn’t cover, like copayments. coinsurance. deductibles. 



MEDICARE ADVANTAGE PART C PLANSThis type of plan is administered by a private health insurer. These plans, in addition to offering everything Original Medicare provides, offer additional features and benefits that you may not get with a Medicare Supplement plan.Most of these plans include prescription drug coverage and have in-network doctors. You would pay your premium directly to a private insurer and maintain lower out of pocket costs if seeing network doctors.
When selecting a Medicare Advantage Plan you would still be required to pay your Medicare Part B premium, normally deducted from your social security check.
MEDICARE PART D (PRESCRIPTION DRUG COVERAGE)This type of plan is administered by a private health insurer. Medicare Part D is a standalone prescription plan that helps cover your prescription needs and is typically paired with a Medicare Supplement plan. Many Medicare Advantage plans have Part D drug coverage, but there are some that offer medical benefits only.  You are not allowed to have both a Medicare Advantage plan and a stand-alone Part D drug plan.

If you're looking for cheaper health insurance, a whole host of new options will hit the market starting in October 2018.

Re-Introducing Short Term Health Insurance Plans

​"These are a niche product, always have been," says Doug Badger, a visiting fellow at the conservative Heritage Foundation in Washington, and a senior fellow with the Galen Institute. "It's simply another choice for consumers that for many is more affordable than the other products available," he says.

Short-term health insurance isn't entirely new. But the Obama Administration issued regulations that limited them to just three months, and they couldn't be renewed.

The Trump Administration has changed that. Now people in some states will be able to buy policies that last a year, and consumers can renew them twice, for a total of three years' coverage.

The administration says that Affordable Care Act insurance is too expensive for some people and this provides people a way to buy a less expensive health insurance policy.

"They give people an additional option. Instead of remaining uninsured, they have a product that makes sense for them, a product that they can afford," Badger says. "It is something that in my view ought to be available to them."

The administration says that Affordable Care Act insurance is too expensive for some people and this provides people a way to buy a less expensive health insurance policy.

"They give people an additional option. Instead of remaining uninsured, they have a product that makes sense for them, a product that they can afford," Badger says. "It is something that in my view ought to be available to them."

But if you're considering one of these plans there's a few things to keep in mind. Short-term policies are regulated by the states, so they don't have to comply with the consumer protections laid out in the Affordable Care Act. This means insurers can refuse to offer these policies to people with pre-existing health problems, or charge people more who are likely to need medications and health care.
They also don't have to cover all the of the 10 essential health benefits that must be included in Affordable Care Act policies. Those benefits include maternity coverage and mental health care.

The average monthly premium for a benchmark Affordable Care Act policy was $481 this year, according to the Kaiser Family Foundation. But most people don't pay that much. Eighty-three percent of people who bought a plan during the open-enrollment period for 2018 qualified for subsidies from the government to help lower that cost.

You can find out what an ACA plan would cost, and if you qualify for a subsidy, by going to HealthCare.gov.

Or See Trout Insurance Enrollment Software - Please  Click this Link 
​
For those who don't qualify for subsidies, Badger says these short-term plans could help them.

But Allison K. Hoffman, a professor at the University of Pennsylvania Law School, says the plans aren't the solution to the problem of high priced insurance.
"The way that these plans answer that problem is saying, 'Well, we'll give you an alternative but that alternative is coverage that people call junk coverage or skinny coverage,' " she says. "So people have something called health insurance but it doesn't necessarily pay for all of their health needs."

United Health Care and National General  say  they plan to offer short-term plans in several states, including North Carolina  Plans range from one with a $12,500 annual deductible for less than $80 a month to one with a $1,000 deductible for about $250 a month. The policies don't cover prescription drugs and  pay about 80 -60 percent of the cost of hospital visits after the deductible and co-payment.
Hoffman worries that people who have become accustomed to the kind of coverage required under the ACA will be surprised when their short term plans leave them with big unpaid bills if they have an accident or become sick.

Still, President Trump and Health and Human Services Secretary Alex Azar say the whole point of expanding access to short-term insurance is to give people more choice, including the choice to buy insurance with few benefits.
HHS estimates that about 600,000 people will buy short-term policies next year and as many as 1.6 million could own them after five years.
​
The Congressional Budget Office, the nonpartisan research office that estimates the budget effects of policy proposals, gives a larger figure, estimating that about 2 million mostly healthy people will buy short-term plans. This could have the effect of driving premiums slightly higher on the ACA exchanges, because healthier people will leave the market, according to the CBO.
 
Source:  National Public Radio; Morning Edition Oct 1, 2018. Adapted.  

​

While most people think about preparation and what to do during an emergency, few people consider what needs to be done after a disaster occurs. The fact is, once an emergency has passed, the danger is not necessarily over. First, you need to survey your property for hazards and secure it right away to help prevent injuries or further property damage. This can help to expedite the rebuilding process. The following tips can help with your recovery following an emergency event.

• Make sure everyone is safe. Stay tuned to local authorities until an official "all clear" is given. If you were evacuated, return only after authorities advise it is safe to do so.
• Look for broken glass and sharp objects, and avoid downed power lines. Never touch anything in contact with power lines, including water or puddles that may be near the downed lines.
• If warranted, have a qualified individual check for gas leaks or electrical system damage. Report any problems to the applicable utility companies right away.
• Protect your property from further damage. Arrange for reasonable temporary repairs. Board up broken windows to help protect against vandalism or additional weather damage. Take photos of the damage and save all bills and materials receipts. Do not make permanent repairs until the insurance adjuster has reviewed the damage.
• Throw out questionable food. Discard any food that has come in contact with contaminants, such as flood water. If the power is out, make sure to leave the freezer and refrigerator closed to keep food cold for as long as possible.
• Report your claim immediately. The sooner you call your insurance carrier, the sooner they can respond. Be sure to speak to a claim professional before hiring a contractor to make permanent repairs. When choosing a contractor, select one who is licensed.
• Refuel portable generators with caution. Turn off the generator and let it cool down before refueling. Fuel spilled on hot engine parts could ignite.

General Hurricane Preparation Tips

• Prepare a survival kit that includes items such as water and non-perishable food for everyone, including your pets; medications; a portable radio; flashlights; batteries; and battery chargers for your cell phones and other portable electronic devices, which can be powered by your car.
• Plan your evacuation route and leave as soon as an evacuation order is issued. Also, fuel up your car before you leave.
• Build a content inventory of the items in your home or at your business.
• Secure all outdoor objects or move them inside. Close your home’s storm shutters and board up windows and glass doors as appropriate.
• If possible, bring in gas or charcoal grills, but do not use them indoors. Also, do not store propane tanks inside the house or garage. Chain propane tanks in an upright position to a secure object away from your home.
• Secure your boat or move it to a safer place.
• Fill your emergency generator fuel tank, if you have one, and have spare fuel on hand. Store generator fuel in an approved container in a garage or shed, away from open flames, heat sources and appliances such as natural gas appliances.

Original Medicare (Parts A and B) covers many medical and hospital services. But it doesn’t cover everything. ​

Many people are surprised to learn that prescription drugs aren’t covered. You can buy drug coverage through Medicare Part D, but it’s not provided by Part A or Part B.
Here are some other services that are not covered by Original Medicare:

• Dental exams, most dental care or dentures
• Routine eye exams, eyeglasses or contacts
• Hearing aids or related exams or services
• Most care while traveling outside the United States
• Help with bathing, dressing, eating, etc. (custodial care)
• Comfort items such as a hospital phone, TV or private room
• Long-term care
• Cosmetic surgery
• Most chiropractic services
• Acupuncture or other alternative treatments
• Routine foot care

You may have to pay for these services yourself unless you have other insurance that covers them. Some Medicare Advantage (Part C) plans may help with certain services not covered by Original Medicare.

Your questions about Medicare- answered!

Make sure you're covered when you're 65!
​Contact us today for Medicare Advantage and Supplement Packages. 

Do you need proof you receive Social Security benefits or have Medicare? Great news- you can request a Benefit Verification Letter for proof of either situation. 

A Benefit Verification Letter is an official letter from the Social Security Administration that proves the following information:

• Age
  
• Current Medicare health insurance coverage
  
• Income when you apply for a loan or mortgage
• Income for assisted housing or other state or local benefits
• Retirement status
• Disability

Request your letter online at my Social Security. Alternatively, you can call the Social Security Administration at 1-800-772-1213 Monday through Friday from 7 a.m. to 7 p.m.

Additional Resources:
Medicare helpline available 24/7  at 1-800-MEDICARE (1-800-633-4227).
Medicare.gov: The Official U.S. Government Site for Medicare
my Social Security: Information on how to create an account — SocialSecurity.gov