Feel Free To Reach Out:  801-609-7636  billeterfis@gmail.com

Medicare and Prescription Drug Coverage

There are a lot of options when it comes to Medicare. A lot of factors play into deciding which plan will suit you best. We take pride in helping you understand the benefits and drawbacks of each type of plan and find an option that fits your lifestyle and budget.

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MEDICARE SUPPLEMENT (Medigap)
These plans are meant to supplement Original Medicare by covering the majority of out-of-pockets costs. Although plans may have higher monthly premiums, they provide great coverage and can keep your healthcare costs steady, no matter where you are or how often you need care. The Set-it and forget it type of insurance.
MEDICARE ADVANTAGE (MA, MAPD)
Similar to the coverage you’ve had with your work or group coverage. You have a network of doctors and hospitals, copays, etc. Most of these plans include prescription drug coverage. These have lower monthly premiums, and many plans offer extra benefits like vision, dental, etc. Can be a good way to keep your costs down if you don’t have a lot of health concerns.
MEDICARE MEDICAL SAVINGS ACCOUNT (MSA)
With this option you get a certain amount of money to spend on your healthcare every year. These plans can be good for people who are healthy and can manage the complexities of a Medical Savings Account.
PRESCRIPTION DRUG PLANS (PDP)
If you choose a Medicare Supplement or Medical Savings Account, you’ll also want to choose a PDP to go with it. These plans cover the prescription medications you’d get at a pharmacy. Because copays, premiums and which medications you’re on can change every year, make sure you get an annual review to be sure you’re not overpaying!
Schedule a FREE Prescription Drug Review!
EXTRA HELP WITH PRESCRIPTION DRUGS or LIS
This is a federal program that helps lower the cost for your prescription drugs. Also known as a low-income subsidy, eligibility is based on your income and savings, and is a fabulous option for folks with limited resources.
DUAL ELIGIBLE SPECIAL NEEDS PLANS (D-SNPs)
Designed for people who are on both Medicare (federal) and Medicaid (state) where two entities are both helping to pay for healthcare and prescriptions. These are specialized Advantage Plans that make Medicare and Medicaid work well together.

Health Insurance

Access to good healthcare is so important to your quality of life and maintaining good health. If your work doesn’t provide good health insurance, it’s time to start looking for a plan that will give you the coverage you need.

If you do have group insurance but would like additional benefits, you may be interested in some of these other types of insurance as well.

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Individual Health Insurance
Health insurance for you or your family. This is for anybody who doesn’t have group health insurance through their employer. There’s a huge variety of covered services, networks, and deductible/copay structures to choose from.
ACA Plans (Affordable Care Act)
This is a government program (aka Obamacare) that was created to make it more affordable for people to get health insurance if it is not offered through their work. Those who meet the requirements can get subsidies that reduce how much you have to pay for monthly premiums, and also may reduce how much you pay for deductibles. Eligibility and subsidy amounts are determined by your filing status, income levels, and household size as reported on your federal taxes.
Dental Insurance
If you don’t already have dental coverage, getting dental insurance can help motivate you to get regular cleanings and offset the cost of anything big that comes up. Usually this costs about as much as paying for regular preventative care out of pocket. *Most plans have a 1 year waiting period before they will cover major dental work.
Hospital Indemnity
These plans offer a cash payout if you have to the hospital. Pairs well with health plans that have a high hospital deductible or copay.
Cancer
Similar to a Hospital Indemnity plan, Cancer plans provide a cash payment if you’re diagnosed with cancer. This can help you pay for treatments, medications and can provide some financial relief during a major crisis.
Disability Insurance
Disability Insurance provides a source of income to people who are suddenly unable to work because of an accident or illness. Depending on the policy, it can provide up to 60% of your normal income for a period of time while you recover, allowing you to keep paying your bills and focus on getting better. Remember that your earning power is one of your greatest financial assets, so disability insurance makes a lot of sense for people in their working years.

Life Insurance

Take care of the people you care about most. Life Insurance can provide for your loved ones if you’re no longer there to bring home the bacon. It’s also a great way to pass on wealth if you’re looking to leave a financial legacy. It’s a good idea to review your life insurance policies every few years to be sure they line up with your current priorities.

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Term Life Insurance
Just like it sounds, this covers a certain amount of time (20, 30 years, etc.) This is very popular among younger people who want to provide for spouses or families if something were to happen to them during their breadwinning years. At the end of your term, you may choose to continue coverage, but your monthly premiums will go way up. If you are coming to the end of your current life insurance term, it’s a good idea to explore other types of life insurance that may suit your needs better.
Whole Life Insurance
These policies last for your whole lifetime: the premium you pay will stay the same no matter how long you live. These policies usually do build up a cash value the longer you pay in. While this usually costs more than term insurance, it’s wonderful insurance, and policies cost less the younger you are when you sign up.
Senior Life
Whole life insurance for older people (50+) which can be easier to qualify for than other policies. This is good for people who have been in good health for the past few years, but may have had major health problems in the past that make it hard to qualify for other types of life insurance.
Guaranteed Issue Life
These are the policies you often see in the mail, which offer coverage without asking any health questions. You won’t get the full death benefit if you die within the first two years on the policy, but usually will get at least as much as you paid in premiums. After the first few years, you will then qualify for the full death benefit. This tends to serve people who have ongoing health problems and can’t qualify for other less-expensive options.
Irrevocable Life Insurance Trust (ILIT)
This is a way to separate the money from a life insurance policy from your estate. It’s a way to legally guarantee that money from a life insurance policy goes where you want it to go. Once in place, the beneficiaries cannot be changed by anyone.

Extended Care

Most of us will need some level of assisted care sometime in our life, whether it’s an accident or surgery that has us laid up, or we’re getting older and and need some help with activities of daily living. Planning ahead for this can save you a lot of money and give you peace of mind knowing that you’ll have the help you need.

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Long Term Care Insurance

This helps pay for care if you need help with at least two activities of daily living (dressing, bathing, feeding, toileting, transferring, etc.) Care may be provided in a facility or in your own home. Meant for situations when care is needed for an extended period of time.

You may ask, “What if I never end up needing this?” There are a lot of ways to pay for long term care policies, as well as hybrid plans which include a death benefit if you don’t end up using the policy.

Short Term Care Insurance

Similar to long-term care, only this type covers a shorter period of time. Most policies top out at just under 1 year of covered services. This is a less expensive option than long-term care, yet still can give you time to figure things out if care is needed. This can include care at a facility or in your home.

Home Health Care Insurance

For care in your home only. This is a great way to be able to stay in your own home and still get the care you need. If you’re already in an assisted living facility, you can have home health care come in and provide additional care and services, without your having to pay a lot more per month for those same services from the care facility.

Asset Protection

When you retire, you shift from adding to your savings to drawing on it. It’s important to consider adjustments to your financial strategy as your needs and priorities change. Remember, losses can be particularly harmful for retirees because you still have to live on that money while you wait for losses to recover. Retirement is a good time to shift at least some of your savings into a vehicle that will give you a secure income. I help people whose main goals are to keep their principal safe from losses while still keeping up with inflation, turning what they have saved into a steady income for the rest of their lives.

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Identity Theft

Data breaches are happening all the time these days, from credit bureaus to social media platforms to our own government. Do you have something in place to prevent and help you recover from identity theft? IdentityShield is the best option I have found. They provide monitoring for any fraudulent use of your identity and have a bunch of lawyers ready to do all the work for you to repair the damage if your identity is stolen.

  • Find out More about IdentityShield

Identity Theft

Data breaches are happening all the time these days, from credit bureaus to social media platforms to our own government. Do you have something in place to prevent and help you recover from identity theft? IdentityShield is the best option I have found. They provide monitoring for any fraudulent use of your identity and have a bunch of lawyers ready to do all the work for you to repair the damage if your identity is stolen.

  • Find out More about IdentityShield

Need Some Help?

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Email Address

billeterfis@gmail.com

Phone Number

Office: 801-609-7636
Cell: 801-673-9138

Web Address

www.billeterfis.com

Products / Services

Location

3267 E 3300 S
Suite 510
Salt Lake City, UT 84109
**by Appointment Only

Mailing Address
P.O. Box 9807
Millcreek, UT 84109

We Come To You!

Appointments can be:

• In-Person At Your Home
• A Scheduled Video-Conference
• A Scheduled Phone Calll
• Other Arrangements Can Be Made!

Business Hours

M – TH: 8:30 am – 5:00 pm
Friday: 8:30 am – 1:00 pm
Saturday: By Appointment
Sunday: Closed