Timing is Everything

The last few days of the month, or often the first, means crucial deadlines for enrollment periods, eligibility windows  or benefit expiration dates. Missing those can prove costly. Because of this, I generally don’t make plans for the last few days of the month: no dinner dates, no long weekends. I know I’ll probably need to help somebody with  something that can’t wait. 

Sure enough, late Friday afternoon of Memorial Day weekend 2021, my phone rang.

Theresa, who goes by Terry, was anxious. In her early 60s, she had been on Medicare for several years because of a disability. Now she needed dental treatments to the tune of $2,000.00 Her life savings amounted to $16,000.00, and  she had no income other than her small monthly social security disability check. The expense was going to hurt. A lot.

Did she have any other options? Her Edward Jones advisor suggested she contact me.

I could tell her she did have other options, but I also told her that time was not on our side. Her application for what I was going to propose would have to be submitted before June 1, which was Memorial Day.

We met the next morning, Saturday, at my second office in West Little Rock. While much of Central Arkansas was firing up the grill or packing for a trip to the lake, we discussed Medicare Advantage Plans, also known as Part C. Being under 65 those are her only options.

Those plans often include basic dental, vision, and drug coverage, plus the option to upgrade to additional dental benefits. No waiting period applies even for dental.

Terry was eligible to participate, so she signed up right away. Her monthly payments are going to be very manageable and her out-of-pocket expense for the necessary dental work would drop to only $500, one-fourth of the original estimate.

I also discovered that she was overpaying for prescription drug benefits, the switch to this plan will also save her about $100 a month on her dozen prescriptions which more than covers her small monthly premium. Needless to say, she was very relieved.  

“Dustin never fails to provide an affordable healthcare option to a client that I have referred to him. My clients    always say that Dustin has taken a huge weight off their shoulders.” Shaun G of Little Rock

The story had a happy end, but Terry remains on my mind. Single, fixed income, few financial assets, failing health—from personal experience I know that she’s not the only one. Terry and others like her—they need allies. 

I urge you to look at your smallest accounts today. Who needs an ally like you and me?

Your Health Insurance Ally, Dustin