Smart Insurance Strategies
for Lasting Security
ACA Marketplace
ACA stands for Affordable Care Act. It was introduced by President Barack Obama in March 2010 and is also known as Obamacare.
To qualify for ACA coverage, you must:
- Live in the United States
Be a U.S. citizen or national
Not be incarcerated (in prison or jail)
There are two ways to enroll in an ACA plan:
Option 1: Open Enrollment
November 1st – January 15th
Enroll by December 15 → Coverage starts January 1st
Enroll by January 15 → Coverage starts February 1st
Option 2: Special Enrollment Period
You may qualify if you experience one of the following life events:
- Change or loss of employment
- Losing existing health coverage (including Medicaid)
- Moving to a new zip code
- Having a baby or adopting a child
- Becoming divorced or separated
- Becoming a U.S. citizen
- Income falls below 150% of the poverty level
The marketplace plans are put into categories or metal levels. If you are under 30 years of age, there is a 5th category called Catastrophic plans.
The categories have nothing to do with the quality of care you get in the plan. The differences between the categories are generally the cost share between the plan and what you will pay.
The percentages listed below are estimates of what the plan pays and what you pay. The actual cost will vary by plan.
Important: These categories do not reflect the quality of care, only the cost-sharing structure between you and the plan.
Medicare
When you retire, you will have to make some decisions when it comes to your healthcare planning. These decisions will depend on if your employer offers healthcare in retirement, whether you were self-employed, if you have a spouse that is still working – and finally, your age at retirement.
Medicare is a federal program for people that are 65 years of age and older or for those under the
age of 65 with certain disabilities.Medicare is not free and it will come with a cost and there are certain things that are covered as well as things that are not covered. Medicare part B is not free, you will pay a premium and depending on your last two years of Adjusted Gross Income (AGI) you could pay even more money (IRMMA). Your Part B premium more than likely will be deducted from your Social Security check monthly.
Medicare alone will leave you to pay co-pays, co-insurance and deductibles and more importantly, after you pay the co-Pays, co- Insurance and deductibles you will be left paying 20% of the bill while Medicare pays the 80% of approved charges.
The 20% co- insurance is unlimited, this is why you decide on a Medicare Supplement or a Medicare Advantage plan to help cover the out of pocket exposures.
Long Term Care
According to the federal government, roughly 60-70% of seniors will experience the need for long term care at some point in their lives.
This care could be a combination of services such as, assisted living, home healthcare, skilled care or an extensive stay in the nursing home. Yet most people are either under prepared or don’t realize that Medicare doesn’t cover long term care stays.
Medicare covers rehabilitative service for up to 100 days.
Unfortunately, the vast majority of seniors have made no real plan to protect against a long-term care stay, leaving their retirement nest egg at risk.
Some folks will not qualify because of health reasons,
some assume that the government will take care of them, some cannot afford the premiums and others are in denial of the potential devastation of a long term care stay.
Long Term Care Insurance
At SMG we understand the need for long-term care insurance. We also know that long-term care insurance can be expensive.
Let SMG help you enjoy your golden years. We will develop a plan to mitigate your long-term care risk and help protect the retirement nest egg that you worked so hard to build.
There are many strategies that can be deployed.
Allow us to guide you through the complexities of long-term care and help provide you with a greater sense of security and assurance.
We work with some of the top elder law attorneys, which allows us to bring strategies that you can count on.
For more information about new and affordable solutions to long-term care, please contact SMG today.
Final Expense
The median cost of a funeral is $8,500
Final expense Whole Life Insurance can help with end-of -life cost
Life insurance is more than just burial insurance. Whole life insurance cost pennies on the dollar and is a great way to provide peace of mind for your loved ones, after all, life insurance is for the ones you leave behind.
- Out-of- pocket medical expenses
- Legal and accounting cost
- Burial cost
- Provide replacement of income
- Pays tax free cash benefits
- No physical exams
- Lifetime coverage
- Builds cash value
- Flexible payment modes
Dental
Maintaining good oral health is an essential part of your overall well-being. Dental insurance helps cover the cost of routine checkups, preventive care, and unexpected treatments—making it easier to stay on top of your health without financial stress.
We help you find a plan that fits your needs and budget, so you can protect your smile with confidence.
Enroll in Medicare Part D
Enrolling in Medicare Part D for prescription drug coverage doesn’t have to be confusing. To enroll with ease, take these two steps:
Step 1: Watch this informative video.
Step 2: Click the button below to enroll online.
Fixed Indexed Annuities
It is important to remember that annuities may not meet the goals of every investor. Often they come with stringent contract requirements or offering limited liquidity while also not keeping pace with the growth in the markets that tend to correct it self over the long term.
Where they can be beneficial is for those retirees that can’t afford to lose in the market as they approach retirement
or those who are in the preservation phase in the life cycle.
At SMG , we recognize that each investor has different needs, and retirement planning is not a “One size fits all” process. We would welcome the opportunity to explore all your financial possibilities to see whether or not protection based approach makes sense for your retirement.
An Indexed Annuity is for retirement or other long-term financial needs. It is intended for a person who has sufficient cash or other liquid assets for living expenses
and other unexpected emergencies, such as medical expenses.
Guarantees provided by annuities are subject to the financial strength of the issuing company and not guaranteed
by any bank or the FDIC. Indexed annuities do not directly participate in any stock or equity investment. Clients who
purchase indexed annuities are not directly investing in the financial market.
Market indices may not include dividends paid on the underlying stocks and therefore may not reflect the total return of the underlying stocks; neither a market index nor any indexed annuity is comparable to a direct investment in the financial markets.
Several factors will affect the cost and availability of life insurance, including age, health, and the type and amount of insurance purchased. Life insurance policies have expenses, including mortality and other charges. If a policy is surrendered prematurely, the policyholder also may pay surrender charges and have income tax implications. You should consider determining whether you are insurable before implementing a strategy involving life insurance. Any guarantees associated with a policy are dependent on the ability of the issuing insurance company to continue making claim payments.
Turning 65 Medicare Checklist
Turning 65 comes with important Medicare decisions; this checklist helps you stay organized and confident every step of the way. Our free Turning 65 Medicare Checklist walks you through what to do, when to do it, and what to consider as you transition into Medicare.
Approach Medicare with clarity and confidence. You don’t have to navigate it alone. Our team is here for all your questions.
Medicare FAQ
If you sign up for a Medicare Supplement plan, you will also need to sign up for a prescription drug plan also known as Part D, even if you are not taking any medications. The government will penalize you 1% of the national base beneficiary premium by the number of uncovered months. For example, if you were uncovered for 12 months, you would owe 12% of the national base beneficiary premium. This penalty will be part of your Part D premium for ever.
Medicare is not free. Medicare Part A is free as long as you have worked 40 quarters. Medicare Part B has a standard monthly cost of $185 dollars. You could pay more for your Medicare Part B depending on your adjusted gross income, this is also known as Income related monthly adjustment amount (IRMAA).
Medicare Part A is for hospitalization, helps pay for anything that takes place while you are in the hospital. Medicare Part B is for outpatient doctor services. Medicare Part C is Advantage plan, and you have to stay in the advantage plans network of doctors. The Advantage plan generally will cost you more out of pocket when you use them. The typical out of pocket maximum is $5300 a year. The Medicare Part D is a stand-alone prescription drug plan. If you choose a Medicare Advantage plan the Part D is already included. If you choose a Medicare Supplement, you will need to purchase a Part D plan. Medicare Part was changed in 2025, the maximum out of pocket a consumer can pay is $2,000.00 for the year.
You may or may not be able to keep your doctors. If you sign up for a Medicare Advantage plan, you will be required to stay in a network. If your doctor is not in the network, then you would pay a higher cost to see them. If you sign up for a Medicare Supplement plan, your chances are higher that you will still be able to see your current doctor. Medicare Supplement plans do not have a network; you just have to see doctors that accept Medicare.
In general, you should sign up for Medicare Part A and Part B during your initial enrollment period, which starts three months before your 65th birthday, includes the month of your birthday and ends three months after that month. If you do not sign up during this period, you may have to pay a late enrollment penalty.
If you or a spouse is still working and have health coverage through an employer, you will not have to sign up for Medicare Part B.
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