Thoughts on the Failed Aetna Humana Merger

Let me start by saying this, if you have a Humana Medicare Advantage plan in the Philadelphia Pennsylvania five county area you need to call BGA Insurance for a review this coming Annual Enrollment Period (October 15thto December 7th).The following is an excerpt from the USA Today article dated 01/23/2017“A federal judge Monday temporarily blocked the proposed $37 billion mega-merger between health insurance industry giants Aetna and Humana, ruling that the transaction would reduce competition for consumers.”The narrative of the USA Today article is based on a whole 17 counties and a much larger market share. I, as a broker, will take a more selfish approach and base my blog on the Philadelphia five county area I write my business in.Let me say I vehemently disagree that the merger is bad for seniors as explained by District Court Judge John Bates as written in the USA Today piece. I think it’s a great thing as far as my territory is concerned.I cannot tell you how many people I visit…

A Licensed Agent Should Review Your Part D Plan

The Medicare Part D prescription drug coverage is confusing and has you all stressed out. Which one do I choose?The one with the deductible or the one without?The one with the lowest monthly premium?The one that all my friends have?The one that has a familiar name?Will all my scripts be covered?Will I fall into the donut hole? What is the donut hole?These are just a few concerns on the minds of seniors today when enrolling onto Medicare. Pick the wrong plan and it could cost you hundreds of dollars more a year if not thousands. Let me put your mind at ease. As a free service your BGA Insurance agent will find the most cost effective plan for you, and not only that, we will review your prescription plan every year during the Annual Enrollment Period (AEP) to make sure you are saving the most money as you possibly can.Reviewing Your PlanWhen I sit down with a prospective client and assist them in their Medicare needs, I always mention that not only will I help you find the right Part D …

Life Insurance – Tips for 2017

The Complete GuideThere are various life insurance products that are designed for many different situations to help folks take care of their beneficiaries. There are a few that are more popular than others but when purchasing a life insurance product most people have the following reasons:Final CostsPaying final costs is the most popular reason most people purchase life insurance. Benefits can be used to pay final expenses, including funeral or cremation costs, medical bills not covered by health insurance, estate administration fees or other unpaid obligations. Even expenses such as a mortgage. For example: let’s say the primary bread winner of the family passes away, the benefits of the plan can assure the home in which the surviving family resides, has the ability to pay the balance of the mortgage.Debt, TaxesPaying off debt or replacing income. Life insurance benefits can help replace your income if you pass away. Your beneficiaries can use the money to help cover essential expens…

Long-Term Insurance – Tips for 2017

A Complete WalkthroughLong-Term care is a phrase in the insurance world that most folks are afraid to talk about. But not BGA Insurance Group, in fact we recommend that you do and we’ll even start the conversation for you.The frustrating part of our business being a broker is that most people view us as “my Medicare person” but contrary to that, we assist in complete retirement planning, and for ALL age groups.After I help a potential customer understand what Medicare is and how it works I like to ask a few fact-finding questions pertaining to post hospital care. My first question is, “do you have Long-Term or Short-Term Care insurance in place?”If yes, I ask “when is the last time your policy was reviewed?” 99% of the time it has never been reviewed. I then explain to them that is exactly what I specialize in and that will usually open a brand-new window of conversation to see if they were properly set up from the beginning.Now most times when I sit down with folks I find they do not…

Medigap Vs Medicare Advantage in 2017

The Complete GuideWelcome to 2017! It’s a new year and there will thousands more eligible for Medicare and a thousand more questions when it comes to choosing Medicare health coverage. A lot of seniors we meet with really are confused about what Medigap and Advantage plans cover and how they differ in benefits and what is covered or not covered in each plan.Seniors choosing a Medicare Advantage plan must realize they are giving up Medicare as their primary insurance.The Advantage plan takes over for Medicare and makes all the rules regarding your health care and sets forth cost sharing, such as copays for doctor and specialist visits, impatient hospital care which can usually cost a couple of hundred dollars each day you are hospitalized, X-rays, lab services, outpatient procedures, ER visits, radiology etc.When choosing an Advantage plan you would obviously want to sit down with a BGA Insurance agent because there are an abundance of plans to choose from and they vary widely regardin…

What Is Final Expense Insurance?

American journalist Frank McKinney said over a hundred years ago, “Fun is like Life Insurance, the older you get the more it costs.” While a funny limerick at the time, insurance companies have adapted from this concept.What is one to do if they have gone their whole life without purchasing any type of life insurance and have loved ones they need to protect? Years ago there were not many options for seniors who found themselves in this situation, Life Insurance late in life was typically very costly and thus not an option for seniors. This is why many insurance companies today now offer Final Expense or Burial Insurance.What is Final Expense Insurance?Traditional life insurance, whether it be term life, whole life or universal life policies have been around forever and are designed to offset the earning power and life value of its policyholder. They are in place to cover loss of income, mortgage costs, college tuitions, etc. and can have death benefits in excess of a $1,000,000.Unlike…

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