Farm and Ranch Insurance Services

Your Out-of-pocket maximum/limit
Is the most you have to pay for covered services in a plan year. After you spend this amount on deductibles, copayments, and coinsurance for in-network care and services, your health plan pays 100% of the costs of covered benefits.

What is Medigap Attained-Age Rating?
Attained-Age Rating is a rating class in which a Medigap insurance company determined the rate based on your current age (the age you’ve “attained”). Your premiums tends to go up as you get older.

How is a Cancer Plan different from a traditional medical plan?
Medical insurance reimburses the insured, or provider, for covered and approved medical services, procedures, equipment, and prescription drugs. The Cancer Plan pays an immediate one-time, lump-sum payment directly to the insured upon initial diagnosis of covered cancer. The cancer insurance policy benefit can be used for any purpose you choose.

Fast Fact: Medicare Advantage plans are NOT similar to Medigap plans – they are different. Members get their benefits from a private insurance company instead of original Medicare.

The general rule for workers at companies with at least 20 employees is that you can delay signing up for Medicare until you lose your group insurance (i.e., you retire).