Author Archives: Scott Demko

Medicare: Part A, Part B and the Supplement

These are the basics of Medicare, available to all people over the age of 65 and those that have special circumstances (such as a permanent disability).

Part A: This portion encompasses your hospital care as well as skilled nursing facility and hospice care–and in some cases, home health care.


Part B: This portion covers your doctor visits, tests, exams, therapies and more. This is your area of greatest use.


*Under the income level of $85K for an individual and $170K for a couple.

This basic set-up dictates that the government will pay 80% of all medicare approved services.

It is then up to you to pay the other 20%. This is traditionally done in one of two ways:

  1. By way of a traditional Medicare supplement, or
  2. By way of a Medicare Advantage plan

The traditional Medicare supplement has several distinguishing features:

  1. It is a true insurance product.
  2. All services must be “Medicare approved”
  3. The program eliminates the need for networks. If the doctor/facility accepts Medicare, then the bill is paid.
  4. Because it is a true insurance product, you can expect annual rate increases.
  5. There is no medical underwriting during your initial election period.
  6. Rx is not included, requiring a stand-alone Rx plan.

The Medicare Advantage plan is an arrangement where your care is provided through a private carrier, using their network resources.

  1. You may be offered additional services outside of the traditional “Medicare approved” schedule.
  2. You will use the network of your private-based carrier.
  3. You will have generally a lower, more stable premium.
  4. You will pay for services as you advance through your regular care as well as special tests and procedures.
  5. Rx is included as part of your plan, unless you choose otherwise.

Below is a basic guide to the Part A/Part B/Supplement breakdown:

Who Needs Life Insurance?

The only people that need life insurance are the ones that plan on dying one day………………………

There are select other groups that may not need life insurance:

–You have more than enough cash and assets to cover everything in the event of your “unexpected” passing. And…….

–You have no short-term and no long-term debts. And……

–You have no family obligations. And…..

–There’s no need for retirement for your spouse or college for your kids. And…..

………..the list can go on and on. The point being, virtually everyone needs some form of life insurance. Think about it–you buy every single other insurance hoping that you never have to use it. This one has a guaranteed payout!!

So it ultimately makes sense that if you’re going to put your time in to getting some life insurance, do it once and do it right so you don’t have to worry about it again.

If you’re not quite sure where you are with your life coverage, think maybe you’re just OK with what you got, or things have changed and your coverage hasn’t kept up–the worst thing that can happen is you get free policy review to tell you that your situation is fine.

Call us at Chu & Associates for all of your life insurance needs and questions. We are always happy to hear from you and happy to help!

Here We Go!

Welcome to the Chu & Associates Health Outlook Post! My name is Scott Demko. I look after all things health-related here at CA. I am taking it upon myself this year to regularly post information, explore topics, answer questions, and generally keep tabs on the ever-changing (sometimes daily) world that is health insurance. We’ll not only touch on health insurance for individuals and groups, but also look at subjects like Medicare, dental, vision, disability, and life.

The object of all of this is to create an information stream that can be used as reference or to help spur ideas for coverage that may be missing or lacking. Ideas and information will probably never be lacking.

Stay tuned…………………………………………….