Page 21 - North Haven Magazine Issue 28 Spring 2023

Medicare Insurance Questions?

203-239-4044

HOMERUN
FRANK LANDINO NICK CASELLA

with Indemnity Insurance Plans

New York Yankee slugger, Aaron Judge, is
already on fire! How many homeruns do
you think he will hit this year?
Speaking of homeruns, indemnity plans have proven to be a
way to “hit the ball out of the park” for Medicare Advantage
policy holders. Medicare Advantage plans have become very
popular. More than half of our clients have this type of cov-
erage and like the fact that there is no monthly premium. Of
course, there are copays with all of these plans and some even
have some level of deductible, but overall, it makes sense for
most folks because they save in the range of $2500 - $3000 a
year in premiums while not jeopardizing coverage.
A good number of our clients have opted to add indemnity in-
surance to their coverage portfolio. This is insurance that will Mr. P. was having dinner with his wife and acting strange.
reimburse you cash back for things like a hospital stay and am- His wife became very concerned and decided to take him
bulance ride, among other things. Also, there are policies that to the emergency room. It turned out he was having a se-
will give you a lump sum of $10,000 should you have a heart ries of mini-strokes and was immediately admitted to the
attack, stroke or get diagnosed with cancer. hospital for 3 days. Fortunately, they were able to treat him
in time before any major damage was done. His 3-day hos-
Here are some examples of what some of our clients have ex- pital stay cost him $1,650 and subsequent physical therapy
perienced: cost him an additional $600 (total $2,250). Fortunately, he
has both Hospital and Cancer/Heart Attack & Stroke in-
Mrs. C. fell in her home and was rushed to the hospital by demnity plans for $87 per month in addition to his $0 pre-
ambulance. She had a 6-day hospital stay and then a 1 week mium Medicare Advantage Plan.
stay in the skilled nursing facility. Her copay responsibility
was $275 for the ambulance and $1,720 for the hospital (to- His Hospital indemnity policy reimbursed him $750 and his
tal $1,995). Fortunately, she has a Hospital Indemnity Plan Cancer/Heart Attack & Stroke policy paid him a lump sum of
for $34 per month in addition to her $0 premium Medicare $10,000 (total $10,750).
Advantage Plan.
If you have a Medicare Advantage Plan, you may want to
Her Hospital indemnity policy reimbursed her $200 for am- consider adding a low cost Indemnity Plan to help offset some
bulance and $1,500 for hospital (total $1,700), so most of her of the higher out-of-pocket copays and/or deductibles in your
expenses were reimbursed to her. policy.
Call us now at 203-239-4044 for more information!

Health Insurance Associates, LLP • 250 State St. • North Haven