Supplemental Coverage

Medicare does not pay for all your health care costs. Therefore, you may choose to purchase supplementary health care coverage (via employer or union health coverage plans, Medicare Supple-mental Insurance, or State Assistance), or help in paying your health care costs through other re-sources (Medicare assistance programs).

Medicare/Medicaid Supplemental Plans

There are several basic ways to supplement Medicare/Medicaid coverage. For additional information on Medicaid supplemental programs call SHIBA at 800-981-2123, or Medicare Customer Service at 800-633-4227 for further information about Medicare plans.

1. Managed Care Plans

Managed care plans are prepaid, coordinated care plans, provided mainly by Health Maintenance Organizations (HMOs). These plans focus on the relationship between the beneficiary and the primary care physician. Under this arrangement, the physician authorizes, arranges for, and coordinates all services for the beneficiary. Managed care plans may also offer benefits not covered by Medicare.

2. Medicare Supplement Plans – Medigap

Medicare Supplement Plans are one way to fill specific gaps in Medicare’s coverage. In 1992 federal regulations set up uniform policies for Medicare. Each of the standard policies offer different groupings of benefits to address a wide range of individual needs. The best time to apply for these plans are within the six-month window of your Medicare eligibility.
Contact Medicare Customer Service at 800-633-4227 to get a complete listing of Medicare supplements, or contact insurance carriers listed in this guide for more information about Medigap.

3. Washington State Health
Insurance Pool (WSHIP) ........................................800-877-5187
PO 1090, Great Bend KS 67530
www.wship.org

The three options offered by WSHIP are designed primarily for Washington residents who cannot obtain adequate health insurance coverage through the private market due to mental or
physical conditions.

If you have been denied coverage by private insurance carriers, call the Office of the Insurance Com- missioner at 800-562-6900 for further information.

4. Qualified Medicare Beneficiary (QMB)
and Specified Low-Income Medicare
Beneficiary (SLMB) Programs and Qualified
Individual (QI-1) Programs

Individuals with resources below the poverty level may be eligible for partial assistance through the QMB, SLMB or QI-1 programs. These programs provide assistance to pay Medicare premiums and cost-sharing requirements. Eligibility is based on income and asset levels. Applications are handled by the Department of Social and Health Services Community Service Office.

5. Disability Insurance
Disability insurance replaces income you lose if you have a long-term illness or injury and cannot work. This is an important type of coverage for working-age people to consider. Disability insurance does not cover the cost of rehabilitation if you are injured. Check to see if it is covered by your major medical insurance.

Some employers offer group disability insurance. Or you might be eligible for some government-sponsored programs that provide disability benefits. Many different kinds of individual policies are also available.

If you are not covered by Medicare

You may be able to take advantage of the following state-provided, low-cost coverage.

Available to Washington residents not covered by Medicare, this plan provides low-cost health insurance. Monthly premiums are based on age, family size and income. A small co-payment is required for visits to health care providers. You may be put on a waiting list.

Health Insurance information Resources

Assistance for consumers on insurance-related matters. Call with questions or concerns about any type of insurance, insurance service, or questions for SHIBA counselors.

Long-Term Care Insurance

In limited and very specific circumstances, Medi-care pays for skilled nursing facility and home health care.

The provisions in long-term insurance plans vary widely from plan to plan, so it is important to know exactly what you are purchasing before you sign a contract. Contact SHIBA at 800-981-2123, an elder law attorney, accountant or financial planner for advice.

Financial Services

Making sure you have adequate financial resources for the future requires planning as well as the wisdom to look ahead.

Accounting

Services include power of attorney, personal representative, preventative and investigative accounting, trustee, protective payee services, and guard-ianships. PLEASE SEE OUR ARTICLE

Banks

Find a bank with a convenient location and hours that fit your schedule. Make sure the bank does not charge you for services like direct depositing, banking by mail, transferring funds over the telephone and deposits/withdrawals from machines.

Listening to customers is what providing great service is all about. That’s why Sterling wants to hear what you have to say. Taking time to listen gives us a better understanding of who you are and what you hope to accomplish. It’s how we find banking solutions that are your Perfect Fit. So if you want more from a bank, come to Sterling. We’re all ears.

All loans subject to credit approval.
Member FDIC Equal Housing Lender.
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Estate Management

Financial Planning, Management
and Accounting

Budgeting, debt management, default housing services, HUD certified reverse mortgage counseling and credit report information.

Reference to local fee-only planners who do not receive commission on sales of financial products.

Qualified accounting and tax service referrals for small businesses and individuals.

Tax Returns and Preparation

Understand the implications of taxes involving capital gains, estate and inheritance, gifting to others, and income and property taxes.

The Tax-Aide Program is a joint venture of AARP and the IRS providing free information and confidential assistance to senior citizens. Services include assistance in completing and filing simple income tax returns that do not require complex forms or involve extensive investment activities. Trained volunteers offer this annual service from February 1 to April 15. Watch your newspaper for times and places.

The four major functions of the IRS are examinations, collections functions, taxpayers’ services, and criminal investigations. Estate, gift, pension plans, and exempt organizations are not services at this location, but please call this office for referral.

The senior program property tax exemption forms may be accessed online. Must meet eligibility guidelines to participate in this program.
 

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