Health Insurance

Individual and Small Group Health Insurance seem to be under siege in recent years. Political entities have yet to adequately deal with this very important part of every family’s portfolio.

Small Group Health Insurance.

Stringham Insurance Agency, Ltd. offers small group health or major medical insurance available on a PPO basis. We do not offer coverage through HMO’s. Coverages and deductibles are varied. We recommend that you fully discuss these options with Stringham Insurance Agency, Ltd.

Individual Health Insurance.

Short Term Individual Health Insurance. This is a very popular and important policy available. This policy enables a client to purchase an accident and sickness policy from a top-notch carrier for a specific period of time – one month to six months. This Major Medical protection is pre-paid and does not pay for any pre-existing conditions. Maternity coverages are not available under any circumstances. Ask about the limitations and benefits.

Individual Health Insurance. This is a more traditional Major Medical, Accident & Sickness policy written on a PPO basis. It is available for the individual or family looking for a more permanent policy. It is medically underwritten. Some come with coverage for prescription drugs, and well care. A term life insurance policy can usually be attached.

Long Term Care Insurance. A policy that is commanding more and more attention. Long Term Care provides a benefit to an insured when that insured is unable to care for themselves and need help with the Activities of Daily Living (ADL’s) – bathing, dressing, eating, continence, toileting, and transferring – or they have a severe cognitive impairment. The need for long term care can result from an accident, chronic illness, short term disability, or from advancing age. All told, over 9,000,000 people of all ages have disabilities so severe that they require personal assistance to carry out everyday tasks.

The cost of long term care is high – for example, nursing home care can range from $35,000 to $80,000 per year. The 1999 national average cost is $46,000 a year. Home care averages $12,000 per year and with the added cost of skilled help, is often higher.

Health Insurance and/or government will usually not pay for long term care. Currently, Medicare pays only for short term, skilled nursing home care following hospitalization. State Medicaid programs require recipients to spend down their assets to poverty level to qualify assistance. The bottom line is that a significant portion of long term care costs are paid for by elderly individuals and their families. The result can be catastrophic and can result in true impoverishment very quickly…oftentimes within one year.

Long Term Care insurance is an idea whose time has come and the earlier and healthier you are when you purchase it, the less expensive it costs. Call Stringham Insurance Agency, Ltd.

Disability Income Insurance

Disability Income Insurance is coverage that provides monthly payments be made [up to a specified amount and for a specific time period] to an insured after a covered illness or injury. The insured must be purchased prior to the illness or injury. Disability Income protects your most valuable asset – your ability to earn an income. Without that income, your ability to pay the mortgage or other expenses might become strained as you tap your savings and liquidate other assets to keep your payments current. Nearly 50% of all home foreclosures are caused by disbility…and don’t count on the government – nearly 70% of all disabled people that apply, are rejected for Social Security benefits. Disability Income Insurance is a most important coverage and should be discussed with your agent.



Need a quote?

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Are you an existing Stringham client and have a question?
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