Do you have a family or dependents? What would happen to them if you passed away? If you don’t know the answer to this question but want to help secure your dependents’ future, term life insurance might be right. At Wenatchee Insurance Agency, servicing Wenatchee, WA, we help our customers find the proper term life insurance for them.
Having a personal life insurance plan that you can take from job to job is an important asset in your working career. There will be jobs that may not offer insurance and yes people do pick up a conditions that prevents them from passing underwriting. Yes, you can have multiple policies.
What Is Term Life Insurance?
Term life insurance is a life insurance product with an end date. It pays out, but only if the policy is active. Term life insurance policies are active only for a specific term, and then they end.
These policies can last for as long as 30 years. Typically, term life insurance policies have a level premium that stays the same throughout the policy’s life. When the policy term ends, there is no payout.
Who Needs Life Insurance?
Although term life insurance has an end date and no payout, it’s available for a relatively low cost. The level premium is also a benefit because it helps make it more easily affordable. This makes term life insurance a preferred product for people who have young families and tight budgets.
Often, people seeking term life insurance have a goal in mind. For example, you may want term life insurance to help pay your mortgage in the event of your death or to pay for your child’s school expenses in the future.
How Can I Get Life Insurance?
If you’re interested in term life insurance, contact the insurance experts at Wenatchee Insurance Agency servicing Wenatchee, WA. Call today to learn more about our range of insurance products so you can choose the right products for your needs.
At Wenatchee Insurance, we use an exchange format that allows us to shop multiple companies in a fast manner.
Unpacking Medicare Part D Costs: A Comical Adventure with Wenatchee Insurance
When it comes to understanding the costs of Medicare Prescription Drug Plans (Part D), it can feel like you’re opening a Walla Walla sweet onion—each layer revealing yet another hidden fee or charge. But don’t worry! Suzie & Wenatchee Insurance is here to make this journey as entertaining as a treasure hunt with a map that only partially makes sense. Let’s embark on this comical adventure together!
First stop on our treasure hunt: monthly premiums. Think of this as the entry fee to the amusement park. You need it to get in, but the rides are extra.
Sample: “Imagine paying to enter the park, only to find that all the rides have separate fees. Welcome to the world of monthly premiums! Some are like the pricey but thrilling dragon roller coasters, others are more like the budget-friendly but equally fun unicorn merry-go-rounds.”
The First Clue: Annual Deductibles
Next, we encounter the annual deductible. This is the amount you pay out-of-pocket before your insurance plan starts covering costs. It’s like the troll bridge before you can access the treasure mountain.
Sample: “Picture a toll booth on your way to Treasure Island. You have to pay up before you can cross the bridge. Deductibles work the same way. Until you pay, you’re on the mainland, dreaming of buried treasure.”
The Treasure Map: Formularies
As we delve deeper, we find the formulary—a list of covered medications. Think of it as Big X on the treasure map. If your medication isn’t on the list, it’s like looking for treasure in the wrong place.
Sample: “Navigating the formulary is like following a pirate’s map. If your meds aren’t listed, it’s like trying to dig for gold in a child’s sandbox—frustrating. Always check the map (formulary) before setting sail.”
The Hidden Charges: Co-pays and Co-insurance
Along our adventure, we can stumble upon co-pays and co-insurance—those sneaky hidden charges that pop up when you least expect them. Co-pays are fixed amounts you pay for medications, like the fee for the funhouse. Co-insurance is a percentage of the cost, like splitting the bill for the bumper cars.
Sample: “Co-pays are like knowing the cost of the funhouse upfront—predictable and straightforward. Co-insurance, on the other hand, is like agreeing to pay a percentage of your friends’ bumper car rides—unexpected and potentially pricey.”
The Final Prize: Catastrophic Coverage
Finally, we reach the ultimate prize: catastrophic coverage. Once you’ve spent a certain amount, your costs drastically decrease. It’s like finding the buried treasure after a long, arduous journey.
Sample: “Catastrophic coverage is the X marking the spot on your treasure map. After navigating premiums, deductibles, and co-pays, you finally strike gold with lower costs and peace of mind.”
Wenatchee Insurance: Your Treasure Hunt Guide
Navigating the costs of Medicare Part D plans doesn’t have to feel like a solo quest through uncharted waters. With Suzie and Wenatchee Insurance as your trusty adventure guide, you’ll find the fastest routes, avoid the pitfalls, and maybe even have a few laughs along the way.
Whether you’re a swashbuckling adventurer or a cautious explorer, let Wenatchee Insurance help you uncover the treasures of Medicare Part D plans. Because with the right guide, the journey is just as rewarding as the destination.
When it comes to choosing between Original Medicare and Medicare Advantage, it’s kind of like deciding between a road trip along Highway 97 or hopping on a Greyhound bus tour through Eastern Washington. Both will get you where you need to go, but the experience can be quite different.
Original Medicare, the trusty old Ford wood paneled Station wagon of the Medicare world, offers Parts A and B. It’s like cruising along the Columbia with the windows down 55 miles an hour —simple with no air conditioning. You get hospital coverage with Part A and medical insurance with Part B, but you’re pretty much on your own for extras like dental, vision, or hearing aids. (Yes, Medicare does not cover everything). And just like a road trip, if you want snacks or souvenirs (prescription drugs), you’ll have to plan ahead and get yourself a Part D plan. If you skip Plan D at the start of your Medicare trip then you may have a late enrollment penalty.
Now, Medicare Advantage (Part C) is the private bus tour with the tinted windows. Suzie from Wenatchee Insurance can guide you through the process like your seasoned tour guide. Medicare Advantage plans are offered by private companies and bundle Parts A, B, and usually D together, plus extra perks like gym memberships (perfect for keeping fit while exploring the Cascades or checking out the local wineries). Suzie can help you pick a plan that stops at all your favorite sights, whether that’s routine checkups or specialty care.
So, whether you’re a solo adventurer or prefer the all-inclusive package, Suzie has you covered. Just give her a call, and she’ll help you figure out which route is best for your Medicare journey.
Topics: health insurance, Medicare, Medicare Advantage, Suzie, Chelan County, Okanogan, Grant County, Douglas County, 509, Leavenworth, Quincy, Cashmere, Entiat,
Understanding Medicare Part D Coverage: A Hilarious Adventure with Wenatchee Insurance
Navigating which medications are covered under Medicare Prescription Drug Plans (Part D) can feel like deciphering an ancient scroll written in hieroglyphics. But fear not! Suzie & Wenatchee Insurance is here to turn this daunting task into a hilarious adventure that’s as enlightening as it is entertaining.
The formulary is your treasure map, showing you which medications are covered by your plan. Each plan has its own formulary, which can vary widely. It’s like a map with X’s marking the spots where your gold (meds) is hidden.
Sample: “Imagine being a pirate with a treasure map. Each X marks a spot where your treasure (medication) is hidden. Some maps are better than others, so choose wisely!”
The X Marks the Spot: Tiers of Medications
Medications in the formulary are divided into tiers, with each tier representing different levels of cost. Think of it as a hierarchy in a medieval kingdom.
Sample: “Tier 1 is the peasant tier—affordable and plentiful. Tier 2 is the knight tier—costs a bit more but offers more benefits. Tier 3 and beyond are the noble and royal tiers—high costs for high benefits. Choose your allegiance!”
The Scroll: Reading the Formulary
Understanding the formulary is like reading an ancient scroll. You’ll see medication names, tiers, and restrictions like prior authorization or step therapy.
Sample: “Deciphering the formulary is like reading an ancient scroll. Some words are clear, others require a magnifying glass and a translator. But don’t worry, we’re here to help!”
The Gatekeeper: Prior Authorization
Some medications require prior authorization, meaning your doctor needs to get approval before the plan covers the medication. It’s like asking the castle gatekeeper for permission to enter.
Sample: “Prior authorization is like asking the castle gatekeeper if you can enter. Sometimes they’ll wave you through, other times they’ll demand to see your credentials (doctor’s approval).”
The Quest: Step Therapy
Step therapy is a process where you must try cheaper medications before the plan covers more expensive ones. It’s a quest where you must complete tasks to progress.
Sample: “Step therapy is like a knight’s quest. You must complete the first task (try a cheaper med) before moving on to the next challenge (getting the expensive med covered).”
The Allies: Preferred Pharmacies
Some plans have preferred pharmacies where you can get your medications at lower costs. It’s like finding friendly allies in different towns during your journey.
Sample: “Preferred pharmacies are your allies in various towns. They offer you safe haven (lower costs) and help you on your quest (managing your meds).”
The Dragon: The Donut Hole
Ah, the donut hole—the fearsome dragon guarding the treasure. It’s a coverage gap where you pay more out-of-pocket for your medications. But with the right plan, you can slay the dragon and move forward.
Sample: “The donut hole is the dragon in your story—scary and expensive. But fear not, brave knight! With Wenatchee Insurance’s guidance, you can slay the dragon and continue your quest.”
The Ultimate Prize: Catastrophic Coverage
Finally, after navigating the formulary, prior authorization, step therapy, and the donut hole, you reach catastrophic coverage. It’s the ultimate prize where your costs decrease dramatically.
Sample: “Catastrophic coverage is the Holy Grail of your quest. After facing all the challenges, you find your costs reduced and your treasure (meds) more affordable. Victory!”
Wenatchee Insurance: Your Quest Companion
Understanding which medications are covered under Medicare Prescription Plan doesn’t have to be a solo quest through treacherous lands. With Wenatchee Insurance as your trusty companion, you’ll have a guide, map, and ally to help you every step of the way.
So, if you’re ready to embark on this epic adventure, let Wenatchee Insurance lead the way. Together, we’ll turn the daunting task of understanding Part D coverage into a thrilling, victorious quest.
Avoiding Medicare late enrollment penalty is like making sure you’re not stuck in traffic on the George Sellar Bridge trying to pick up your kid at the mall—you want to plan so you don’t miss out (or have an upset kid!). The secret sauce is to sign up for Medicare on time, during your Initial Enrollment Period (IEP).
The Initial Enrollment Period is three months before your 65 Birthday, your Birth month, and then three months after your birthday. Seven months can seem like a long time but yes, we have encountered a fair number of people who have missed their IEP.
Suzie from Wenatchee Insurance is like your pocket navigator, guiding you to avoid any wrong turns. If you miss your IEP and don’t have other creditable coverage, you could face penalties when you enroll. The penalties do not go away and grow the longer you delay coverage.
Late Enrollment Penalty Example
For example, for Part B, the late enrollment penalty is an extra 10% added to your monthly premium for each full 12-month period you were eligible for but didn’t sign up.
But here’s the fun part—Suzie trained to understand the shortcuts. Maybe you have employer coverage or are covered under a spouse’s plan? In these cases, you might qualify for a Special Enrollment Period (SEP), which is like getting a personal police escort across the bridge to make it on time.
Suzie can also help you figure out if delaying Medicare makes sense for your situation. Just like knowing when you can grab a coffee and when you need to get going, having Suzie’s advice will ensure you’re on time and on budget. For some people, it makes sense to start their Medicare Part A Coverage while others may want to delay their Part B.
Suzie with Wenatchee Insurance has been helping people in Washington State navigate the twists and turns of Medicare for over a decade. If you have been a long-time resident, you may have encountered her when she was a Pharmacy Technician in Wenatchee. She has people who have set appointments years in advance to do the change from healthcare to Medicare.
Topics: health insurance, Medicare, Medicare Advantage, wenatchee insurance, Suzie, Chelan County, Okanogan, Grant County, Douglas County, 509, Leavenworth, Quincy, Cashmere, Entiat,
Today, Suzie & Matt are going to talk about Dreamers. The Deferred Action for Childhood Arrivals. The program was designed to provide temporary relief from deportation and allow people to legally work. There is about 16,030 Dreamers are in Washington State and there are probably more waiting.
Dreamer is not an easy process to achieve. There is an injunction in Southern District Court that prevents confirmation of new filings. There is about another 100,000 applications in process. If you have not applied and meet the guidelines then filing could benefit you down the road
The important thing going on is the shift in Health Insurance for Immigrants.
In November 2023, Wenatchee Insurance started enrolling people into healthcare regardless of Immigration status. It is a great program that with a state-secure application grants access to the Healthplanfinder, Health Insurance, and monthly cost savings with tax credits.
This was the largest group of uninsured in the state. They didn’t have access to a large group plan from an employer. They are students, stay-at-home parents, or even worked small businesses. At Wenatchee Insurance, we have advocated for immigrants to be covered for over a decade.
On July 1st, 2023, the Healthcare Authority Authorized the first 10,000 immigrants into the Apple Health Program. Those who were enrolled in other immigrant health programs or enrolled with a current plan went first and were under 158% of the poverty level. Yes, this is the regular Apple Health program level. It allowed people to get medical treatment and the providers to get paid promptly.
If you are a Dreamer or a DACA recipient and other newly eligible individuals you will qualify for a Special Enrollment on November 1st, 2024, and have a plan on the Healthplanfinder starting as early as December 1st.
This will provide Dreamers access to Federal Advanced Premium Tax Credits which will lower their Healthcare costs further. If you have a current plan and are only using the state credits, then the application will have to be adjusted.
If you do not have health insurance, then we want to run the application, and you can have Healthcare before Christmas of 2024.
Set an appointment early as the Health Open Enrollment runs from November 1st through December 15th for plans that start January 1st, 2025.
There is an additional enrollment period of December 15 through January 15 for plans starting February 1st.
Alright, let’s talk about the million-dollar question—well, hopefully not literally. “How much does dental insurance cost?” It’s a question that keeps people in North Central Washington up at night, somewhere between worrying about deer in Grandma’s flower garden and whether The Wild will have a winning hockey season. At Wenatchee Insurance, we get it.
First things first: the monthly premium. This is the amount you’ll pay each month, kind of like your subscription to that jam-of-the-month club. Except this time, it’s your teeth getting the care they need. Depending on your plan, premiums can range from about $15 to $75 a month. It’s like choosing between the extra-large caramel apple from the Grant County fair or just a bag of organic Fuji apples—both will cost you, but which one will make you feel better about your choice? Freedom is important.
Deductibles and Co-Pays
Next, we have deductibles and co-pays. If you’ve ever had to pay to park at Leavenworth during Oktoberfest, you know what these are. A deductible is what you have to pay out-of-pocket first before your insurance kicks in, and co-pays are the little bits you pay each time you visit the dentist. Imagine going to the local cider mill and having to pay a few bucks just to get in—that’s your co-pay. Most deductibles range from $50 to $150 annually, while co-pays can be $10 to $20 per visit for most plans.
October is when we can offer next year’s plans.
Funny Example
Take our pal Farmer Fred from East Wenatchee. Farmer Fred figured he’d save some dough by skipping dental insurance altogether. After all, how bad could it be? Well, that was before Farmer Fred’s epic caramel apple incident last Halloween. One crack of that candy-coated delight and Farmer Fred was down two teeth and up several thousand dollars in dental bills. Now, Farmer Fred’s a dental insurance convert, paying his monthly premiums like clockwork, and sticking to softer treats—like apple pie.
Major Work: Crowns, Implants, and More Dental Insurance
For major work, the cost can be higher. We’re talking crowns, root canals, and implants—like if you decided to replace your old beater with a brand-new truck. The insurance might cover 50% to 80% of the cost after your deductible, leaving you to pick up the rest. These are the services that often have waiting periods. But trust us, it’s a lot better than footing the entire bill yourself.
Protip: Be aware of plan dollar maximums per person per year. This is the amount that the insurance plan will help with before wandering off to the next year. Some plans have them and some do not.
While we do a lot online at Wenatchee Insurance, we especially like to go over coverage with clients. We have some new clients that want to shop by brand name not realizing there can be significant differences for each product. We have encountered people who didn’t realize they had current coverage and others who did not know there was an add-on available from their insurance plan.
The Medicare Annual Enrollment Period (AEP) is like the annual Wenatchee Apple Blossom Festival—it’s the time when everything’s buzzing with excitement, and you have a chance to make important decisions. From October 15 to December 7, this is your window to review and make changes to your Medicare Prescription or Medicare Advantage Plan for the following year.
Picture this: you’re strolling through Memorial Park with your churro, and Suzie from Wenatchee Insurance is there with a booth set up to help you navigate your Medicare options. Maybe last year, you opted for a Medicare Advantage plan that looked great, like the shiniest red car in the Classy Chassis. But now, you realize you need a plan with more prescription drug coverage, kind of like realizing you should’ve brought sunscreen before you went to Memorial Park for the Gyros and Funnel Cakes.
Why is the Annual Enrollment Period important?
During AEP, Suzie can help you switch plans or make tweaks to your existing coverage. Insurance Companies will update current clients by mail and release plans for the following year in October. It’s like picking out the best apples from a fresh batch—you want to make sure you’re getting the best fit for your needs.
Do not let the Medicare Annual Enrollment Period pass by like a clown in the parade—stop by Suzie’s booth (or give her a call) and make sure you’re set up for a healthy, happy year ahead.
Suzie has been assisting people in Washington state for over a decade selecting Medicare Prescription and Medicare Advantage Plans. She has people selecting her months in advance for these updates. If you do not see her available then call and we will do our best for a personalized appointment.
Topics: health insurance, Medicare, Medicare Advantage, Suzie, Chelan County, Okanogan, Grant County, Douglas County, 509, Leavenworth, Quincy, Cashmere, Entiat, Wenatchee Insurance,
Is there a difference between Insurance Broker, Agent or Producer? What do I want when I shop for insurance for my home, car, health, or Medicare plan? How does it all work? Who is Wenatchee Insurance? Who are Matt, Shayla and Suzie?
Imagine you’re shopping for a pair of leather work boots.
Insurance Agent
Insurance Agent: This person works at a specific shoe store and will show you all the shoes they have in stock. They might have a great selection, but they can only offer you what’s in their store. If they are a Nike store then they will only sell you Nikes, if you are in a Converse store then they will only sell you Converse….you get the idea. In insurance terms, this agent represents one or a few insurance companies. They’ll help you pick the best shoe (policy) from what they have.
Insurance Broker
Insurance Broker: Now, think of this person as your very own shoe shopper. They don’t work for any specific store. Instead, they run around town, checking every store that they have access to find you the perfect pair of shoes at the best price. In the insurance world, a broker shops around with different insurance companies to find the best policy for you.
There is also a Surplus Lines Broker and that is a special license to sell products for carriers not admitted in our state. This would be like someone who could sell you a pair of $10,000 pair of Dolce & Gabbana when there were no stores in the state.
Insurance Producer
Insurance Producer: This is a fancy term that covers both agents and brokers. (It is the legal term in Washington State). If you’re a producer, you’re licensed to sell insurance, whether you’re helping people pick shoes from one store (agent) or shopping all over town (broker).
A Example:
Imagine you’re about to go on a hiking trip, and you realize you need a pair of sturdy hiking boots (let’s say the boots represent your insurance policy).
If you go to an Insurance Agent, they’ll show you all the boots they have in their store. “These are great boots!” they’ll say. And they are! But they’re the only ones they can sell you because that’s what their store offers.
If you go to an Insurance Broker, they’ll say, “Wait here!” and dash off to five different stores to find the best hiking boots in town. They might come back with three pairs and say, “Here, try these. They’re all great, but this one has the best grip, and it’s on sale!”
And if someone says they’re an Insurance Producer, they’re just telling you they can help you get insurance, whether they’re sticking to one store or shopping around.
So, next time you’re “shopping” for insurance in Washington State, now you know who does what—and who’s more like your personal shoe shopper!
So is Wenatchee Insurance Broker , Agents or Producers?
At Wenatchee Insurance we are Insurance Producers licensed in the state of Washington. We use exchanges to shop for products for our clients. We are contracted with many different companies for Health, Life, Travel, Medicare, Homes, Autos, and Businesses. We also work with several different brokers for additional support for our clients. We can recommend plans and do not add fees for our services.
Yes, we have been writing policies like Apple Health for clients for years without receiving a dime because it is the right thing to do for our community.
Suzie and Matt at Wenatchee Insurance have been discussing the upcoming changes for months. We view the Inflation Reduction Act as a creator of Big Changes in Medicare Prescription coverage. We see that resources will be limited during the Annual Enrollment Period. Consumers faced with large changes in Medicare Prescription Plans and Medicare Advantage plans looking for guidance for their plan update may feel pressured to take the first plan presented instead of thorough explanations of the updates.
Here’s a quick overview of how the Inflation Reduction Act (IRA) is changing Medicare:
Out-of-Pocket Spending Cap for Part D:
Beginning in 2025, the donut hole is gone. The Inflation Reduction Act introduces a $2,000 annual limit on out-of-pocket spending for Medicare Part D. This is a major difference. This maximum will protect Medicare beneficiaries from excessive drug costs and provide more predictable expenses throughout the year.
Also starting in 2025, the IRA will implement a new Medicare Prescription Payment Plan. It can be started anytime during the year. This plan allows Medicare beneficiaries to spread out their out-of-pocket costs for prescription drugs over the course of the year, instead of paying large sums all at once. This change aims to make managing drug costs more manageable for beneficiaries, especially those on fixed incomes.
For example, Farmer Fred uses Stelara for his arthritis. It retails for over $20,000 a dose on his Medicare Prescription Plan. It means that the first dose cost will stop at that out-of-pocket maximum and Farmer Fred can choose to make payments on the $2000 (out of pocket maxim remember) instead of everything up front like in previous years.
Medicare Prescription Drug Price Negotiation:
The IRA allows Medicare for the first time to negotiate prices for certain high-cost prescription drugs directly with pharmaceutical companies. The process began in 2023, with the first ten negotiated prices set to take effect in 2026.
The next round of fifteen drugs to be negotiated will be announced on February 1, 2025 and their new prices starting January 1, 2027.
Already in effect:
Capping Insulin Costs:
Starting in 2023, the IRA caps insulin costs for Medicare beneficiaries at $35 per month. This cap is expected to provide significant financial relief for those who depend on insulin to manage their diabetes.
Expanded Access to Vaccines:
The IRA ensures that all adult vaccines recommended by the Advisory Committee on Immunization Practices (ACIP) are available to Medicare Part D beneficiaries with no cost-sharing, starting in 2023. This got vaccines like shingles to Medicare recipiants with no additional cost. The considerable list is here.
These changes reflect a significant effort to make healthcare more affordable and accessible for Medicare beneficiaries, particularly in the realm of prescription drugs.
In July the Centers for Medicare & Medicaid Services released 2025 Medicare Part D Bid Information and Premium Stabilization Demonstration. For the Stand-alone Part D plans, they are going to provide some reassurance and work on lowering some of the forecasted costs. This stabilization has been done before. It was in the early days of the Medicare Part D plans. We will not be able to discuss the individual plan prices until October.
Suzie and Matt are recommending everyone with a Medicare Prescription Plan or a Medicare Advantage Plan with Prescriptions who want assistance double-checking plans to select an appointment now as there are millions of Americans with these plans and a limited number of people who are trained to assist.
Medicare Annual Enrollment Period runs from October 15th through December 7th.
For nearly a decade we have assisted with Health & Medicare Solutions. We are proud to be selected by the Washington Healthplanfinder to be one of ten Enrollment Centers located in Washington State.
