Tanner Wilkinson talking with Nate Johnson from Risk Managers, LLC on Insurance FAQs
Q: Last month, we spoke with Shane Knutson talking a little about medicare. What is the recap on that?
A: Open enrollment happens in October. Shane talked about the traditional plans versus the different vantage plans. The A and B and how that works. So if you have any questions on that, call Shane down there in Gunnison. He does a fabulous job with health insurance.
Q: Why is it important to have an agent vs. going direct?
A: There is so much fine type, what is covered and what isn’t. Your agent can help you navigate that. It’s really important to have an agent that has your best interest to make sure you have the coverage you actually need.
Q: We’ve heard of accident plans. What are they?
A: An accident plan is like an indemnity plan, like Aflac, if you’ve seen the commercials. You can pick a max amount of indemnity. Then if you or one of your kids get hurt, you will be reimbursed up to that amount. This is great to help offset high deductibles.
Q: Give us an example of how that would work.
A: This year, my boy, playing 6th-grade football, broke his leg. I have a higher deductible plan. When everything was done, the MRI, the X-ray, the facilities, and the surgery, the bill roughly came to $22,000 if I hadn’t had any insurance. After the insurance, the bill was roughly $5,500. Luckily I had spoken with Shane and had an indemnity plan with a max of $5,000. So after everything with deductibles, I was about $750 out of pocket. Now if I get cancer or sick, it doesn’t help that. But for accidents and sports injuries, it is very effective.
Q: How much do these types of plans cost?
A: They are actually very inexpensive. Anywhere between $20 and $40 a month, depending on the family size. And the limit is per accident, not per year. So, if my cheerleader takes a fall, that will be available for her as well. If you have a family that’s very active in motocross or involved in sports, I highly recommend these plans.
Q: Are there things they won’t cover?
A: The major one I am aware of is sickness, which it won’t cover. 99% won’t cover you if you are a collegiate athlete.
Q: Final thoughts?
A: Shane is available for additional questions and helps at 435-262-4760