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Health Insurance Options Now That Open Enrollment is Over

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Can I make changes to my Medicare coverage? Annual election is January 1, 2021- March 31, 2021. During this time period you can: Return to original Medicare part A & B and purchase a Florida Blue Medicare supplement along with a stand alone drug plan Return to a Florida Blue Medicare Advantage plan Can I change my under 65 policy? Open enrollment is October 1- December 15 of each year. While this is the time to make changes for the coming year, there are circumstances that allow for a “special election period” (SEP) Marriage or divorce Adding a new member to the family Moving residences Coming off of group coverage with an employer Changes in income to remain compliant What if my under 65 policy doesn’t cover everything? Florida Blue offers critical illness, accident and hospital plans to fill the gap where coverage is not offered with your current health insurance plan. These add-on’s assist in covering copays, deductibles, emergency room visits, help pay the mortgage and even pay when you have your annual wellness check completed. Don’t forget to cash in on the Florida Blue Rewards for under 65!! Florida Blue rewards you for taking care of your health. Log in to your Florida Blue account and be sure to complete: Health Assessment- helps to create a Personal Health Journey Complete the self-guided activities to earn monies toward your monthly premium- up to $250. Educational videos for lowering out-of-pocket costs, managing your Florida Blue account, preventative care and HMO/PPO benefits- up to $200. Personalized rewards are geared for members with certain health conditions. Earn $10 to $250 toward the monthly premium based on your specific needs. HealthyBlue Rewards for Medicare Advantage Members! Stay your healthiest with the Florida Blue rewards program. Log in to your member account at floridablue.com/medicare to participate and earn gift cards for: Annual Health Risk (AHR), Annual Wellness Exams/In-Home Health Visit, breast cancer screening(women only), bone density(women only), flu shot, colon cancer screening, diabetic screenings, and reporting healthy activity. Also Read: Getting the Most from Medicare When Your New Benefits Start Get A Quote

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Getting the Most from Medicare When Your New Benefits Start

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If you are going to become eligible for Medicare in 2021, then you are probably looking forward to finally receiving a benefit that has been promised to you for many years. Medicare is a great way for you to lead both a healthier life and keep your medical bills affordable. If you are new to the program, the options might seem confusing. It is easy to get started and we are here to help. Here at SWFL Insurance, we believe that every Medicare participant—whether they have Original Medicare, Medicare Advantage, Part D, Medigap or other benefits—should get the most out of their coverage from day one. Let’s look deeper into things you should keep in mind when you are new to the Medicare system. Finalizing Your Enrollment Even once your Medicare benefits take effect, there are still a few loose ends to tie up. A few last-minute steps to take include: Filing a disclosure form that will allow Medicare representatives to speak to another person you trust about your Medicare benefits. This might be a spouse, close family member, or adult child who you can trust to talk to Medicare on your behalf, if you can’t do so yourself. Determining your billing cycle and choosing how to make your premium payments. You must continue to pay your premiums to continue to receive coverage. If you have Original Medicare, then you can set up an account at Medicare.gov to pay your premium and receive paperless billing. Learning more about your chosen benefits. Each year, you will receive your Medicare & You handbook, which can advise you of how the system will change in the new year, and how these changes might affect you. Checking your Medicare card to make sure it includes the correct information, and putting it in a place where you will remember to take it with you whenever you visit the doctor. Visiting Your Doctor Once you qualify for Medicare, you will be able to receive care from a nationwide network of physicians, hospitals and other care providers. Doctors within the Medicare network accept Medicare as a form of payment, and your policy will pay its full share of costs when you visit one of these physicians. When your Original Medicare benefits start, you are entitled to a one-time Welcome to Medicare preventive health visit. At this time, you can see your doctor for a wellness exam, which will help them gather vital health data about you. Welcome visits are usually free, though you might have to pay certain costs, depending on the tests the doctor orders. This service is only offered during your first year on Medicare, so don’t wait to take advantage of this very helpful perk. Considering Expanded Medicare Benefits Original Medicare is the U.S. government’s primary insurance offering for senior citizens and other qualifying Americans. Still, there are many other Medicare benefits on the market that can help you expand upon your coverage. These include: Medicare Part D (Prescription drug benefits): Original Medicare doesn’t automatically cover prescription drugs. However, Part D plans are affordable policies that offer prescription coverage and can be added into your Medicare portfolio with your Original Medicare. Medicare Advantage Plans: Also called Part C plans, Medicare Advantage Plans are offered as an alternative to Original Medicare. These plans provide all the same benefits of Original Medicare, but also include expanded benefits like dental, vision and prescription drug coverage. Medicare Supplements (Medigap plans): Medicare Supplement Plans are offered in addition to Original Medicare Coverage (Parts A and B). Original Medicare might leave outstanding costs, like coinsurance and deductibles, which are the policyholder’s responsibility to pay. However, a Medigap plan will help you cover these costs. Each of these plans are offered by private insurance companies, but they must meet standards set by Medicare law. Still, they will include their own premiums, coverage networks and cost-sharing rules. Additionally, not all plans are available in all areas. You must have Original Medicare before you can enroll in any of these benefits, and each has its own enrollment qualifications and timelines. So, if you are interested in getting extra coverage alongside your Original Medicare, then you shouldn’t wait to get started. If you do not enroll in extra coverage during qualifying time periods, then you could be ineligible to buy a plan during other times of the year. To learn more about enrolling in expanded Medicare options, and for help making sure you get the plan that is right for you, you can rely on SWFL Insurance. Our focus is our customers, and we’re committed to helping every Medicare participant optimize their benefits to their advantage. Also Read: What is Included in a Medicare Advantage Plan? Get A Quote

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What is Included in a Medicare Advantage Plan?

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Medicare Advantage plans are offered through private insurers and help offer coverage for important healthcare for certain individuals. These plans combine coverage available under Original Medicare with additional coverage and higher limits. There are sections of Medicare plans separated into parts. Original Medicare plans include Part A and Part B while Medicare Advantage plans are known as Part C. Part C, or Medicare Advantage plans, include both Part A and Part B. Part A Medicare Part A is considered hospital insurance. It covers inpatient hospital care, skilled nursing facilities, hospice, lab tests, surgery, home health care and more. This part comes with all Medicare plans and is required for enrollment before an individual can purchase a Medicare Advantage plan. Part B Medicare Part B concerns outpatient care such as doctor’s visits, durable medical equipment, health care provider’s services, home health care and some preventive services. This part also comes with all Medicare plans. While the name of these plans is the same between Original Medicare and Medicare Advantage, there are slight differences. Since Medicare Advantage plans are offered through private insurers, they can offer higher limits and more coverage options. Many Medicare Advantage plans may offer dental and vision coverage as well as Medicare Part D. Medicare Part D covers prescription drug costs and can be added to your Medicare plan. You must qualify and enroll in Part A and Part B Medicare in order to enroll in a Medicare Advantage plan. If you miss your open enrollment period for Original Medicare, you must wait for the next enrollment period. If you already have Original Medicare, you may be able to enroll in Medicare Advantage outside of the enrollment period. What is Not Covered Under a Medicare Advantage Plan? Original Medicare has several exclusions such as vision, dental and hearing, though these may be covered under a Medicare Advantage plan. Copayments, coinsurance and deductibles are generally not covered under even Medicare Advantage plans, however, although these can be covered under a Medigap policy. Also keep in mind the Medicare is not a group policy and will not cover family members or spouses. Medicare Advantage works as an individual health insurance policy. If one of your loved ones also needs Medicare, they will need to enroll in their own plan. If you have any questions about Medicare Advantage or your health insurance needs, be sure to speak with your insurance agent. Get A Quote

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Florida Rate Increases

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Are you feeling overwhelmed by the cost of your insurance? You are not alone! The state of Florida property insurance market is increasing rates across the entire state. Where are these increases coming from? Florida has experienced an increase in claim litigations. Did you know that in 2019, Florida suffered over $700 million in losses? The frequency and severity of lawsuits filed by consumers has increased drastically over the past several years. At the Colodny Fass/Aon event, president and CEO of Florida’s Citizens Property Insurance Corp, Barry Gilway, stated, “Litigation is out of control in the state and until we do something about the overall litigation issues and the firms drumming up litigation, then rates are not going to stabilize.” Insurance carriers are tightening underwriting guidelines and filing for rate increases due to their significant losses. To help keep your insurance costs down, have a recent 4 point inspection and wind mitigation completed on your home. These two things will help us apply credits to your insurance! SWFL Insurance is here to help! We have several great markets available and will consistently shop your rates through our carriers at each renewal. Contact us to review your policies and shop our markets.

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Why Young People Need Life Insurance

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One common misconception is that a life insurance policy is only necessary for middle-aged or elderly people. The truth is that even young adults can benefit from purchasing a life insurance policy. Here’s more about why young people need life insurance in today’s day and age. Lower Premiums One of the main reasons that young people should buy a life insurance policy is so that they can enjoy lower premiums for the rest of their life. When compared to middle-aged people and the elderly, younger people are less likely to be married or have children. Due to this, some young people don’t see the point of buying a life insurance policy at their age. However, most young people today can expect to have a spouse and children in the future. In general, the younger you are, the less expensive your premiums for life insurance will be. Therefore, you should buy a life insurance policy now while you’re young so that you can enjoy an inexpensive premium when you have a spouse and children. Paying Off Student Loans Even young people who don’t want to start a family of their own can benefit from a life insurance policy. For if they were to pass away, life insurance could be used to cover any debts that they were to owe. If you’re young, chances are, your largest debt is student loans. The average student loan debt in 2017 was about $37,000, according to Debt.org. All federal student loans, including Parent PLUS loans, are canceled when an individual passes. However, this is not the case for private student loans. A life insurance policy can help pay for any private student loans, which your parents may have cosigned for. Funeral Or Burial Costs Finally, a life insurance policy can help cover the costs of a funeral, burial, or cremation. The average funeral in North America costs anywhere from $7,000 to $10,000. The average cost of a direct cremation is about $1,100 in the United States. Unfortunately, after the death of a loved one, many families struggle to cover the final expenses. Therefore, a life insurance policy is a good investment for anyone, no matter their age. One of the smartest financial decisions a young person can make is buying a life insurance policy. For more information, don’t hesitate to contact us. Get A Quote

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What Affects Your Life Insurance Rate?

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What Affects Your Life Insurance Rate? Buying life insurance is a big decision to make, and one of the first things people ask themselves is how much their coverage is likely to cost. Like with all insurance options, insurers measure risks when determining your premium. When it comes to life insurance, your risks will center on your likelihood of dying and the policy paying on your behalf. Therefore, various demographic factors will lower and raise these risks and thus impact your price. What are some of these? Why do they matter to life insurers? Age is a Factor As you get older, you are more likely to die. Therefore, the longer you wait to buy life insurance, the more you might have to pay for your coverage. Most life insurers recommend that you buy your first coverage before the age of 30, when you usually have a lot of freedom of choice for your coverage. At this point, you are more likely to get approved for coverage and pay an optimized price. Smokers Usually Pay More Many life insurers don’t want to invest in clients who have higher likelihoods of premature death. Therefore, not only your health, but also your habits, might impact either your rates or your coverage eligibility. Smoking is one habit that is very hazardous to your health, and therefore could limit your life insurance choices when the time comes. Even if you have stopped smoking, your risks might remain high. However, the longer you stay remain a non-smoker, the better your risks might prove. Therefore, you might qualify for more favorable rates in time. People in Hazardous Jobs Might Face Higher Risks Life insurers often ask applicants their occupations both to get a picture of the applicant’s financial health and their risk level. If you work in a hazardous occupation, then you could experience an accident on the job or eventually begin to suffer from a chronic health issue brought on by exposure. While your occupation might not disqualify you from a policy, it might have an impact on your rates. Health is a Big Savings Opportunity There are millions of Americans with current or developing chronic issues. However, the better you work to maintain fair health, the better your long-term outlook will be. Therefore, working proactively to maintain good health can show life insurers that you have an investment in your wellbeing. This might help reduce your overall risk rating and help you qualify for more effective policies. Often, being a conscientious applicant can help you determine the best way to get life insurance to your benefit. Plus, even if you do have outstanding risk factors, you can often still qualify for a policy. Our agents are happy to work with you to help you get coverage to your benefit.

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Questions to Ask Before You Buy Commercial Insurance for Your Business

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Questions to Ask Before You Buy Commercial Insurance for Your Business Starting a business is an investment, whether you’re looking for a location or starting your company right out of your home. Protecting that investment is crucial, and you will want a business insurance policy that covers your assets. Not all business insurance policies are created equal, however. Before signing a policy, make sure to ask these important questions. What Types of Coverage are Available for My Industry? Every industry is different, and thus faces different risks, especially when it comes to liability. Simply buying a basic small business policy can leave you with gaps in your coverage, which can lead to heavy financial losses. Ask insurance agents about the coverages that are available specifically for your business needs. What are the Coverage Limits? Coverage limits are often flexible for commercial insurance policies. If you have several locations or expensive equipment, you may need higher limits of commercial property and equipment breakdown insurance. A basic liability insurance policy could start at $1 million per year, but if you deal with customers on high-value projects, you may need higher liability limits. What is Excluded from the Policy? Many policies have common exclusions, and business insurance is no different. Ask about exclusions from your liability and property coverages especially. Many commercial property insurance policies exclude coverage for incidents concerning floods and earthquakes. How Will Compensation Work? The way you can receive compensation for an insurance claim will vary depending on what type of claim it is. Make sure to go over the details with your insurance agent about when and how to file a claim, and what kind of compensation you can expect. This is especially true for property, as cash value and replacement value are different types of compensation that can change how much you receive after a claim. How Can I Save Money? Ask about discounts and other ways you can save money. Insurance is supposed to protect your assets, not drain them. So be sure to ask about any adjustments to your property or your policy that can save you money without sacrificing important coverages. Protecting your commercial property with anti-burglary and fire alarm systems, for example, can often save you money by lowering the risk for that type of claim. Making your physical location safer can also lower the risk of liability claims, and thus save you money.

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Pest and Mold Safety in Your Home

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Pest and Mold Safety in Your Home It’s inevitable that your home will experience wear and tear over the years. Sometimes, damage can arise from small invaders that, while minuscule, can also be pervasive and even deadly. Common home invaders might be mold, pests and vermin. However, homeowners insurance might not automatically cover the damage they cause if you could have otherwise prevented it. As a result, every property owner must do all they can to protect their property from pests. Therefore, consider a few of the preventative steps you should take regularly to protect your property. Preventing Pest Infestations When termites or vermin like mice or squirrels nest in your home, they can cause structural damage. Many feed on woodwork and can damage portions of the structure to create nests. Often, you can prevent this damage long before it occurs. Therefore, your homeowners insurance will usually not pay for this damage.There are many protective steps that you can take instead: Hiring a professional pest service and exterminator to spray around the home at regular intervals. This can create a barrier that both kills pests and blocks them from entering. Keep pest prevention devices like mousetraps, bug spray or bug bombs on hand. You can often use these on small problems before they have time to get worse. If you notice cracks or holes in your walls, foundations or roof, then have these repaired. These can provide prime entryways for pests. You might be able to tell if you have a pest infestation if you notice sounds, holes in walls or animal droppings in the house. Immediately take remedial action upon finding this issue. A professional home inspection performed every two years can help you catch developing problems not visible to the naked eye. Of course, don’t forget that regular cleaning, maintenance and waste disposal helps create a safe and healthy home. With it, you can cut down on your risks of vermin infestations. Preventing Mold Contamination Mold can develop anywhere in a home where warm air and water meet. Not only can it cause structural damage, but it can also cause significant health risks that affect your over wellness. No matter the season, mold is a possibility, so always do what you can to prevent it. Anywhere you have a leak, standing water might accumulate. That’s a breeding ground for mold. Repairing damaged pipes, cleaning your gutters, sealing your foundations and mopping up puddles will help you clear away that risk. Never hesitate to call a plumber when water backups occur in the home. They can both diagnose your issues and make the requisite repairs. Should mold develop, you might be able to clean it up yourself using bleach. However, you should always call a professional if you have a significant mold issue develop. Again, most mold development will not have coverage under your homeowners policy if it develops slowly. Therefore, it’s your job to keep an eye out for these issues and stop them before they become unmanageable. Check with your insurer in each instance of pest or mold damage to see if you have claims coverage. However, make preventing these items your first priority.

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Homeowners Insurance And The Responsible Dog Owner

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Your homeowners insurance protects you from the unexpected. As much as your fur baby is a member of the family, cover your assets. Read on to see how this can affect your homeowners policy. There’s no bones about it, if you are like me, no home is complete without man’s best friend. They bring us joy, they give us unconditional love. They give us companionship, and there nothing better than their excitement when we walk through the door at the end of the day. U.S. households include almost 90 million dogs with their intelligence and desire to please it’s no wonder they are the number one species chosen to be service and therapy animals. That said, the Center For Disease Control estimates that 4.5 million dog bites occur each year in this country. Over half of these bites occur at a home with dogs that are familiar to the victim. The average cost for these claims paid out was $44,760 in 2019 and this number is increasing yearly. With that in mind, many look to their own home, renters, or condo policy to provide protection against liability claims brought about by dogs, but do they? When in doubt consult with your agent who can advise the best way to protect you, your assets, and your four legged friends. ~Tracy Lynne Rennspiess – SWFL Insurance Homeowners Insurance and Animal Liability In Florida, many insurers exclude animal liability, ironically Florida is #2 in dog bite claims annually in this country. Carriers offer it on a case by case basis taking into account the dog breed, temperament, size another factors to determine insurability. Some insurers will not insure dogs of a certain breed, even if the breed is mixed with other more insurable breeds not on the insurance industry’s canine “hit list”. Breeds commonly refused liability coverage are Pitbulls, Dobermans, Rottweilers, German Shepherds, Wolf hybrids, and many others. Some are excluded by carriers due to the aggressive nature of the breed like the American Staffordshire Terrier (Pitbull), while others may be excluded due to a large bite radius like a Great Dane or Mastiff. While some insurers/agents won’t ask for your dog’s breed, once there is a dog related incident, your insurer may non-renew your homeowners insurance policy, surcharge your policy, or exclude your pet altogether. What to do if you have a dog on the insurance carrier breed “hit list”? Have an honest discussion with your agent about what is and is not covered by your homeowners insurance policy. If animal liability is excluded you need to know to protect your assets. Even if animal liability is covered once your liability limit is exceeded by an animal claim you are responsible for the exceeded amount. If you find out animal liability is excluded from your home policy, have your licensed, independent agent look for a new carrier, though you may still have a hard time finding coverage if you have a Pitbull, Rottweiler, or other breed on the list. That said, if your dog is trained as a service animal, therapy dog, or a member of the American Kennel Club’s Canine Good Citizen program some carriers may make an exception. Ask your independent agent for a stand alone canine liability policy. This policy covers liability claims caused by your dog even if your home owners insurance carrier wont. Pricing for this type of policy ranges from $125 annually for a small mixed breed dog to $400 annually for a spayed/neutered Pitbull. You can have multiple dogs on the same policy and many carriers discount for more than one pet. We Live In Florida And This Is Fairly Obvious But Needs To Be Said: As a side point to our discussion on animal liability some in the state of Florida own what is termed in the insurance industry as “Exotic” animals. Almost all carriers exclude “Exotic Animals”, this includes alligators, snakes, wolves and wolf hybrids, coyotes, foxes, raccoons, and other species of wildlife kept as pets. When in doubt consult with your agent who can advise the best way to protect you, your assets, and your four legged friends. Lastly, there are some who will criticize my use of the insurance industry’s term “aggressive” in describing American Staffordshire Terrier (Pitbulls). I respond to this by saying this is Kendall…and I’m her Mom. I used to think we rescued her, now I know she made it her job to complete our little family, keep us safe from geckos, make us laugh, and feel loved and missed when we walkthrough the door at the end of the day. Mission accomplished, my good girl.

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Should I Pay My Car Insurance Premiums Monthly or Annually?

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Should I Pay My Car Insurance Premiums Monthly or Annually? When you purchase a car insurance policy, you typically have the option to pay monthly or annual premiums. There are benefits and downsides to both, so it is important to make the right decision for you and your finances. Upsides of Paying Annually Paying annually generally means paying a larger lump sum near the beginning of the year. This can help you save throughout the year by not giving you a monthly bill, and there are often discounts available for drivers who decide to pay their car insurance premiums all at once. It is also useful so that you have less of a change to accidentally miss or skip payments. Even setting up an auto draft on your monthly premiums can sometimes lead to a mistake or double payment. Having a single, annual bill makes it less likely that you will be dropped because you missed a monthly payment. This may be beneficial for drivers who can afford to pay larger sums out of pocket and do not want money taken from their account every month. Upsides to Paying Monthly While monthly premiums do require you to pay a bill on time each month, they also have a lot of benefits. Paying monthly can help you keep track of changes in your premiums. When you pay yearly, you may not be able to see how much your rates are fluctuating throughout the year and you could be surprised by unexpected jumps in prices. This also allows you to shop for car insurance throughout the year if you are not happy with how your premiums are changing. You can catch your insurance agent while they’re less busy to fix a problem rather than waiting until the start of the year, when many agents are the busiest. In the end, it is your decision to choose what type of insurance policy you would like. There are benefits and downsides to paying both annually and monthly. While paying monthly is the most common form of car insurance premiums, paying annually is still a valid choice for some. Speak with your insurance agent and a financial advisor before settling on a policy. It is important that you choose a payment method that is right for your budget and your lifestyle so that you don’t accidentally have a lapse in coverage or even risk a cancelled policy.

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