Medicare Insurance Overview
Cordova Insurance Agency knows how vital it is to plan for your future and your family’s needs. Personal Lines Insurance covers individuals and/or their families from losses resulting from injury, death, or a loss of property due to a financial loss such as an accident, illness, theft, or fire. Examples of Personal Lines Insurance include homeowners insurance, auto insurance, life insurance, and health insurance. Your premium will determine how much coverage you attain and what your deductibles will be.
Health care costs are continually rising, but our insurance agents are here to find you the best policies in terms of price and coverage. Medicare helps pay for health care for seniors aged 65 and older, under age 65 who receive Social Security Disability benefits, and for people of any age who are diagnosed with ALS or End-Stage Renal Disease. Based on the type of Medicare plan you get, you can receive coverage for hospital visits, hospice care, prescription drugs, dental, vision, hearing, and other health benefits.
Wisconsin Insurance Law states that mandated benefits could include home health care, chiropractic care, catastrophic prescription drugs, diabetes treatment, and more for some Medicare policies. However, Medicare does not cover Long-Term Care (LTC) services such as custodial care, bathing, or dressing.
Why Medicare Insurance is Important
Having Health Insurance will mitigate your risk of facing a catastrophic loss. For instance, if your spouse becomes severely injured, you won’t have to worry about losing your home to pay off their costly medical bills. Or if you’re like many Americans, you may want to build upon your retirement savings. Having Medicare pay for health care expenses during retirement can lead to less stressful times, as well. Medicare can relieve a large amount of health care expenses, though it may not cover everything in its entirety.
Medicare Insurance Coverage
There are four types of coverage labeled Part A, B, C, and D when it comes to Medicare.
- Medicare Part A: Is also known as Hospitalization Insurance and is premium-free. It can pay for your hospital bills and particular skilled nursing facility expenses and some rehabilitative services and hospice care.
- Medicare Part B: Can also be referred to as Medical Insurance, and helps pay for doctors’ bills, diagnostic tests, and some hospital outpatient services. However, it does not cover services that are unrelated to treating an illness or injury.
- Medicare Part C: Also known as Medicare Advantage, and runs through Private Insurance Plans. It may have deductibles and out-of-pocket expenses that do not apply to Wisconsin standardized Medicare Supplement policies.
- Medicare Part D: Pays for outpatient Prescription Drug costs. It is optional and available if you are with Medicare Part A or Medicare Part B.
Even though Medicare does not cover Long-Term Care, these services are important to look into. They assist people with daily living activities, such as using the restroom, getting help with eating, and being transferred from a bed to a chair. You can purchase LTC Insurance to help protect assisted living or home health care services. Other options include adding an LTC Rider to your life insurance policy, purchasing LTC Annuities, and even opting for Short-Term Care Insurance that is usually capped at one year.
Areas We Serve
Cordova Insurance Agency is available to help you figure out the best life and health services. We are located in Merrill, in central Wisconsin. Our neighboring cities include Wausau, Tomahawk, Minocqua, Woodruff, and surrounding areas.
We work with multiple companies and strive to provide the best service possible to our clients. Our licensed agents make it a priority to return all of your calls on time and give semi-annual or annual reviews of your policies to ensure everything is updated. From our first point of contact, we are here to discuss with you a broad range of options, explain confusing policies, and determine beneficial action plans with you and your family.
In addition to Medicare and Long-Term Care insurance, Cordova Insurance can also take care of all of your Personal Insurance needs, including:
- Auto Insurance – Provides Comprehensive and Collision Coverage to help protect your auto from spendy accidents. It also can provide Under/Uninsured Motorist Coverage.
- Homeowners Insurance – Provides coverage for your home, contents and other building on your property in addition to liability coverage.
- Life Insurance – Provides a financial payout in the event the breadwinner of the home passes away.
- Dental Insurance – Provides coverage to help offset the costs associated with dental procedures.
- And More!
We have access to competitive insurance rates that can fit alongside your future plans based on your claims history and background basics. We also look into any special considerations, such as if you are a high-risk individual who may need to pay higher premiums. No matter your background, we will put together a comprehensive plan to take care of your personal needs.
Cordova Insurance Agency strives to empower our clients by giving you the tools and opportunities you need to be financially secure. We know poring over pages of plans and medical jargon can be overwhelming to read, but we can help ensure you understand everything you are signing up for. We are here to guide you along this journey and make things seamless and easygoing!
To learn more about Medicare Insurance or any other Personal Lines Insurance, contact Cordova Insurance Agency at (715) 536-9576. Our licensed agents will be happy to answer any questions you have.