Hey Medicare Nation!
I'm not an expert on Reverse Mortgages......in fact, I don't know much about them.
I have heard about Reverse Mortgages on commercials, in newspapers and on FaceBook feeds. I never had the need to learn about Reverse Mortgages, so...... I never did......until...... a client asked me about them.
When a client asks me a question about Medicare..... I know the answer. I'm a Medicare Expert....I'm in the business of knowing as much as I can about Medicare.
Because my clients trust me with their Medicare needs and concerns, they ask me all kinds of questions. When I know the answer.... I tell them. When I don't know the answer..... I get the answer for them!
So....when my client asked me about Reverse Mortgages.... I started reading about them.
When I was introduced to Michael Banner, President of Professional Mortgage Alliance, LLC, I had many, many questions.
Michael Banner was very patient and answered every question I had..... truthfully.
An hour and a half later..... I had a much better idea about reverse mortgages, and I invited Michael Banner to come onto The Medicare Nation Podcast to share his knowledge with our Medicare Beneficiaries and Sandwich Generation!
Here are the highlights of my interview with Michael Banner:
* What is a Reverse Mortgage?
* Do I pay a higher intersest rate with a Reverse Mortgage?
* If I "Will" my home to my children.... what happens to the Reverse Mortgage?
* What is a Non-Recourse Loan?
* What does it mean if the value of my house is "upside down?"
* What is No-Debt Service?
* Is a Reverse Mortgage Safe?
* If a person leaves the home to live in an assisted living facility, what happens to the Reverse Mortgage?
* Can a person "out live" a Reverse Mortgage?
* What are the "5 Ways" payments are made with a Reverse Mortgage?
Want to learn more about Reverse Mortgages?
Reach out to Michael Banner at :
Website for Professional Mortgage Alliance, LLC
Michael Banner's Phone Number - (727) 224 - 3859
Where to purchase Michael Banner's Book -
The 62 Who Knew Show
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Until next time.... have a happy, peaceful & prosperous week!
Hey Medicare Nation!
On the Last episode.....I spoke to you about Medicare Supplement Plan "F" and High Deductible Plan F.
Today....I'm going to talk about Medicare Supplement Plan "G" and Plan "N"
Plan "G" allows you to "purchase" an insurance policy, where you pay a monthly premium to the carrier......
in return...... Medicare Supplement Plan G, will pay ALL your Medically necessary out-of-pocket deductibles, co-insurance and co-pays...... EXCEPT for ..... The Annual Part B Deductible. YOU will be responsible for the Annual Part B deductible each year.
Currently.... in 2019, the Annual Part B Deductible is $185.00.
So..... when you seek medical care in the beginning of the year.... you will pay out-of-pocket until you hit the $185.00 Part B Deductible.
After you pay the $185.00 Part B Deductible....you will NOT be responsible for ANY other deductibles, co-pays or co-insurance under Medicare Supplement Plan G, that are medically necessary under Medicare.
Plan "N" allows you to "purchase" an insurance policy, where you pay a monthly premium to the carrier......
in return...... Medicare Supplement Plan N, will pay ALL your Medically necessary out-of-pocket deductibles, co-insurance and co-pays...... EXCEPT for .....
1. The Annual Part B Deductible ($185.00 in 2019)
2. A co-pay of up to $20.00 for each doctor visit.
3. A co-pay of $50.00 if you go to the Emergency Room and you are "Discharged" from the Emergency Room.
If you are "admitted" to the hospital from the ER... you will NOT incur a $50.00 co-pay.
If you have paid all of your Part B Deductible, you will have NO other out-of-pocket costs while you are an inpatient in the hospital.
4. If you seek treatment, testing or diagnostic testing from a physician or facility that does NOT accept Medicare, you WILL be responsible for 100% of the cost of that service.
The provider or facility can legally charge you 15% above and beyond the Medicare Allowable charge.
It is vital that you always ask prior to receiving care, a test or doctor visit....if the physician or facility "accepts Medicare."
If they do.....your charges are outlined above.
If they do not accept Medicare..... you may be responsible for ALL of the charges, up to 15% of the Medicare Allowable charge.
ASK BEFORE YOU SEE A DR or RECEIVE TREATMENT!
Prices for Medicare Supplements VARY by zipcode!
Get quotes from MANY different insurance carriers prior to enrolling in a plan. You could save hundreds....sometimes over a thousand dollars a year!
HAVE a Question for ME?
Send it to me at Support@TheMedicareNation.com
I will answer ALL emails I receive.... personally!
If the answer to your question will take me more than 1 paragraph to answer... or .... it is necessary to do some research for you in order to answer the question.... I will respond and advise you to hire me as your consultant.
Many of your questions may be answered on the official Medicare website - www.Medicare.gov
Always do YOUR Due Dilligence before you enroll in a Medicare Plan!
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YOU will be responsible for the Annual Part B deductible each year.