How Medicare Advantage works:

● Provided by insurance companies that are approved by Medicare.
● The health plan will pay for your services not Medicare. You are still in Medicare; it is just a different way of getting Medicare benefits.
● Medicare Advantage plans are sometimes called (Part C) or MA plans.
● Can be similar to HMO (Health Maintenance Organizations) or PPO (Preferred Provider Organizations) that you may have carried in the past.
● Combine your Medicare Part A, Part B and Part D coverage into one convenient plan.
● Includes coverage that goes beyond Original Medicare such as prescription drug coverage, possibly dental, vision, hearing, fitness benefits and sometimes more.
● To be eligible, you must have both Medicare Part A & B, you must continue to pay your Medicare Part B premium (unless paid for by another third party or Medicaid.)
● You must live in the plan’s service area.
● Affordable premiums with predictable Co-Pays when utilizing services.

RLG Financial Concepts offers Medicare Advantage Plans through the following companies:

• Highmark
• Humana
• United Health Care
• UPMC

How Medicare Supplement works:

● Medicare Supplement plans are offered by private insurance companies. They are designed to cover the deductibles and coinsurance of Original Medicare. There are a variety of (standardized) plan designs with each carrier ranging from plan A-N.
● Medicare Supplements will usually have less cost sharing but as a result they will generally have a higher premium than a Medicare Advantage Plan but will have much less cost sharing when receiving medical services.
● Medicare supplements are readily accepted by doctors and hospitals that accept Medicare in any state.

RLG Financial Concepts offers Medicare Supplement Plans from the following carriers:

• Humana
• Highmark
• United Health Care

How Part D Drug Plans Work:

• Medicare Part D is an optional program that provides Insurance coverage to help you pay for prescription drug costs.
• Offered by private Insurance companies and are based on guidelines provided each year by the Centers for the Medicare and Medicaid (CMS.)
• Plans are similar but may vary in premiums, co-pays and formularies.
• Can be purchased as a “stand alone” or through a Medicare Advantage plan that covers both Medical services and prescription drugs.
• To be eligible, you must have Medicare A and or B.
• A Part D late penalty could be added to your Part D premium if at any time after your initial enrollment period is over that 63 or more days pass when you did not have Part D or other creditable prescription coverage. If you have a limited income and qualify for Extra Help you don’t pay a late enrollment penalty.
• For 2024 the catastrophic coverage stage we will be changing. Members will no longer have a 5% coinsurance or copay for their prescriptions in this stage. This is due to the inflation Reduction Act of 2022 (IRA) that was signed into law in August 2022.
• COVERAGE GAP STAGE (DONUT HOLE): It your total yearly drugs costs exceed $5,030, you move into the coverage gap stage, also known as the donut hole. In the donut hole you pay up to 25% of the plan’s cost for brand-name and generic drugs plus a portion of the dispensing fee. You stay in this stage until your out-of-pocket costs including any manufacturer’s discount payments provided for brand-name drugs) reach $8,000. After that you move into the catastrophic coverage stage.
• CATASTROPHIC COVERAGE STAGE: Once you reach this stage, you will no longer pay for your prescriptions. Your Part D plan will be responsible for paying your share of the cost for your prescriptions
• DEDUCTIBLE STAGE: UPMC for Life does not have a deductible on our Part D plans. If your plan does have a deductible, you will pay the full price for your drugs until you meet your Part D deductible.
• INITIAL COVERAGE STAGE: During this stage your out-of-pocket costs are very predictable. You can look at your plan’s formulary to find the tier your prescription drugs are on. You pay copays until your total yearly costs reach $5,030. The total yearly drug costs are paid by both you and your Part D plan. Most people will stay in this stage for the entire year.

RLG Financial Concepts offers Prescription Drug Plans for the following carriers:

• Silver Script Rx
• United Health Care Rx
• Humana Rx
• Highmark Blue Rx

In today’s turbulent financial markets people who are in retirement or approaching retirement are concerned about safety and protection of their money.

For instance, many annuities offer:

· Tax Deferred Growth
· Potential for Higher Yields
· Premium Bonuses
· Avoidance of Probate Delays and Costs
· Potential Advantages for Social Security Taxation

RLG Financial Concepts offers:

Life insurance is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person. Depending on the contract, other events such as terminal illness or critical illness can also trigger payment.

RLG Financial Concepts offers:

• NSS Life 
• Protective Life 
• Transamerica

About a major risk to you and your family’s financial, physical and emotional well being? Are you aware of the risks associated with needing Long Term Care?

LTC Companies we offer: