I have been a customer of the Lucey Wealth Advisors for more than 5 years. I have found Mike Lucey and all of his associates... read moreI have been a customer of the Lucey Wealth Advisors for more than 5 years. I have found Mike Lucey and all of his associates to be excellent in terms of knowledge and service. Mike has helped me to have a very secure retirement by placing a large chunk of funds in an American Equity annuity which will give me a substantial monthly payment for life. He has steered me in other investments that have done very well during the last few years. Whether I talk to Mike or Jeff Pfeiffer, I feel confident that they are putting my financial needs and goals first. They are always prompt in returning messages and courteous to a fault. Their fees are very reasonable for what you get in return. Highly recommended. read less
I wish to highly commend Michael Lucey and his very able business partners on their advice and management of my wife and my retirement portfolio... read moreI wish to highly commend Michael Lucey and his very able business partners on their advice and management of my wife and my retirement portfolio and investments. From our very first meeting, Mike has been swift to listen, analyze and provide sound investment information specific to our needs and requirements. He provided us with the spread charts and data to help us monitor our portfolio and maximize our returns. We meet on an annual basis to have a client review, provide the latest updates and plan for our daughter's fiscal future as well. During all of this time Mike and his excellent business partner, Jeff Pfeiffer, have been understanding and very swift in their response time to our communiques. And yes, all of this with a refreshing sense of Irish humor ! Sincerely, Paul and Lynn Young read less
I have been extremely pleased with the quality of the service. Mike, Jeff and his team are very responsive, knowledgeable and helpful. I have been... read moreI have been extremely pleased with the quality of the service. Mike, Jeff and his team are very responsive, knowledgeable and helpful. I have been using their Annuity and Life insurance products for approximately 6 years and would highly recommend their services read less
My experience working with Lucey Wealth Advisors was superb. Mike and his team are exceptionally thorough, trustworthy and highly-professional. Looking forward to a long-term (and... read moreMy experience working with Lucey Wealth Advisors was superb. Mike and his team are exceptionally thorough, trustworthy and highly-professional. Looking forward to a long-term (and very fruitful) working relationship. read less
Mike Lucey and his team are wonderful to work with. I highly recommend them. They pay attention to detail and are great about keeping you... read moreMike Lucey and his team are wonderful to work with. I highly recommend them. They pay attention to detail and are great about keeping you informed and involved in the process. read less
I used Lucey Wealth Advisors and they are very professional, extremely responsive and trustworthy. Mike Lucey assist me when I was having difficulty searching... read moreI used Lucey Wealth Advisors and they are very professional, extremely responsive and trustworthy. Mike Lucey assist me when I was having difficulty searching and selecting a good retirement annuity program. He researched and showed me the list of the top rated annuity companies that allowed me to select the best annuity company for me. Moreover, Mr. Lucy processed a complicated funding structure for my final retirement distribution. I am thoroughly satisfied with the quality of their trustworthiness and professional services. My 5 star rating is absolute. AV, San Jose, Ca AV San Jose, Ca AV San Jose California read less
At Lucey Wealth Advisors, we’re more than just a leading San Francisco financial advisor; we’re also an insurance company that specializes in Medicare supplement plans. No matter where you are on your Medicare journey, you can count on our certified, experienced, and highly knowledgeable associates to provide you with personalized and unbiased support. For years, our experts have successfully helped countless clients select the right health plans to expand their coverage while also saving substantial sums on their premiums.
Using the power of comparison shopping, the licensed agents at Lucey Wealth Advisors offer up-to-date details about the best possible rates. Since we aren’t loyal to a specific carrier, you’ll never feel pressured and will be free to select the best health plans for your unique needs. With the guidance, insight, and support of our insurance company, you can have complete confidence in your financial and health decisions
Medicare is the health insurance plan that is provided by the United States federal government for adults aged 65 and older, as well as younger individuals who have been diagnosed with specific qualifying health conditions or disabilities. Typically, eligible beneficiaries are granted health benefits via Medicare Part A and Medicare Part B (Original Medicare). Those benefits are either provided by the US federal government or through a Medicare Advantage plan that is offered by a private insurance company (which is known as Medicare Part C).
The Health insurance coverage that Original Medicare provides doesn’t cover everything, and beneficiaries must cover the cost of the gaps in coverage out of their own pockets; deductibles, copays, and coinsurance, for example. In order to secure coverage for some of those out-of-pocket expenses, senior citizens who are enrolled in Original Medicare can apply for a Medicare Supplement plan. Often referred to as “Medigap” (because they fill the gaps in Medicare coverage), Medicare Supplement plans are available on a state-by-state basis. The coverage limits and billing practices these plans provide are bound by both state and federal regulations.
There are several Medicare Supplement plans available, and the requirements for premiums, deductibles, and coinsurance varies from plan to plan. There are 10 standardized Medigap plans, and Medicare beneficiaries can shop around to find the option that best meets their needs. The 10 standardized supplement plans are designated by letters, which include: A, B,C D, F, G, K, L, M, N
The missing letters in the above sequence (E, H, I, and J), correspond to supplement plan options that are no longer available for new enrollees. It’s important to note that the letters that are used to designate Medicare Supplement plans should not be confused with Original Medicare, including part A, B, C, or D. Original Medicare parts signify the different basic health care plans that are available through the federal government, and the letters that are applied to Medicare Supplement plans refer to different plans that provide additional coverage for the gaps in Original Medicare plan coverage.
How do Medicare Supplement Plans Work and What do They Cover?
Medicare supplement plans are different than most standard health insurance plans. Whereas standard plans offer health benefits, Medicare supplement plans don’t; rather, they cover the out-of-pocket costs that the beneficiaries of Original Medicare are responsible for. These out-of-pocket expenses can include (but aren’t limited to) the following:
Here’s a basic breakdown of how Medicare supplement plans work: You purchase and pay a premium for a Medicare supplement (or “Medigap”) plan, and in return for paying the premiums, the supplement plan will pay for the cost of the gaps in Original Medicare coverage. To illustrate, when you visit the doctor, you won’t have to pay for the coinsurance that your Original Medicare plan requires; rather, your Medicare Supplement plan will cover the fee for you.
As with standard health insurance plans and Original Medicare plans, the coverage that Medicare Supplement plans provide varies. As such, it’s important to speak with a reputable San Francisco insurance company that specializes in Medicare Supplement plans, such as Lucey Wealth Advisors. Our team of certified and experienced agents will be able to explain the different health plans that are available and assist you with selecting the right coverage to meet your unique needs.
What are the Benefits of Medicare Supplement Plans?
If you’re a Medicare recipient, you may be wondering if investing in a Medicare Supplement plan would be worth your while. As with everything in life, it really depends on your unique situation and needs; however, for the vast majority of people, Medicare Supplement plans are beneficial. Why? Because a supplement plan can provide financial security and peace of mind.
Like most retirees, you probably live on a fixed budget. The cost of virtually everything – including medical care – is constantly rising, and covering the cost of the gaps in your Original Medicare plan can be hard. Because Medicare Supplement plans cover the gaps in coverage, you won’t have to worry about those out-of-pocket expenses. Of course, knowing that your health care costs will be covered will provide you with a sense of security and increased peace of mind.
In order to make an informed decision, having as much information as possible is vital. With that said, the following are some of the key things that you should know about Medicare Supplement plans that can help you decide if investing in additional coverage would be worth your while.
o Long-term care
o Vision care
o Dental care
o Hearing aids
o Eyeglasses
o Private-duty nursing care
Sequence of Returns
These eye-opening points could mean the difference
of thousands of dollars to you in retirement.
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If you would like to learn more about Medicare Supplement plans and you live in or around San Francisco, contact Lucey Health Advisors. We’re not only the area’s most trusted investment advisors; we also offer Medicare Supplement plans. Our team of certified and experienced agents will thoroughly explain the different options that are available and will help you select the right coverage for your needs.
To ensure the well-being of your health and your finances, get in touch with the team at Lucey Wealth Advisors. Submit a contact form directly through our website or give us a call directly at 888.828.3394. One of our knowledgeable and helpful associates are standing by and are ready to assist you with all of your needs.
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