May 19, 2026

Life Insurance Settlements, Medicare 101 & Small Business Benefits Explained

Life Insurance Settlements, Medicare 101 & Small Business Benefits Explained
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Season 1

Episode 11 of MedicareHour & More with Peter features Lisa Rehburg discussing life insurance settlements and how policyholders may sell a policy instead of surrendering it during financial hardship. Plus, Peter shares the agency’s popular Medicare 101 presentation to help clients navigate coverage with confidence. Also includes insights on Small Business Group Benefits and protecting employees—because it’s more than Medicare. We Medi CARE!

MedicareHour & More With Peter! is broadcast live Tuesdays at 9AM PT on K4HD Radio - Hollywood Talk Radio (www.k4hd.com) part of Talk 4 Radio (www.talk4radio.com) on the Talk 4 Media Network (www.talk4media.com). MedicareHour & More With Peter! TV Show is viewed on Talk 4 TV (www.talk4tv.com).

MedicareHour & More With Peter! Podcast is also available on Talk 4 Media (www.talk4media.com), Talk 4 Podcasting (www.talk4podcasting.com), iHeartRadio, Amazon Music, Pandora, Spotify, Audible, and over 100 other podcast outlets.

Become a supporter of this podcast: https://www.spreaker.com/podcast/medicarehour-more-with-peter--6905243/support.

WEBVTT

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This program is designed to provide general information with regards

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to the subject matters covered. This information is given with

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the understanding that neither the hosts, guests, sponsors, or station

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are engaged in rendering any specific and personal medical, financial, legal, counseling,

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professional service, or any advice. You should seek the services

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of competent professionals before applying or trying any suggested ideas.

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Attention to individuals, families and caregivers. It's Medicare Hour and

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More with Peter right here on k for HD Radio.

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This is the.

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Podcast for all types of insurance solutions while specializing in Medicare.

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Because we Medicare, here's your host, Peter R. Joseph.

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Hey, good morning, good morning, good morning. Hey. We are

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excited to have you guys join us again. We are

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on episode eleven. We are just cruising along, got a

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great show for you guys today. Just to remind you guys,

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we are live on K four HD Radio. You can

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download that app. You can also see us on Facebook,

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live on Joseph Insurance Broker, LLC, as well as YouTube.

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Our channel is at Medicare a Minute with Peter, so

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we hope to see you there. If you have any

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comments or questions. Feel free to chime in. We will

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respond back quickly. We've had a crazy amount of viewers.

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I mean we've had twenty six hundred viewers already on

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a couple of our episodes, So I mean that is

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that's awesome. Thank you so much for your support, and

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we hope that we've been a great resource for you

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guys as we navigate this Medicare journey as well as

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other insurance products. Before I start, I do have to comment.

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I'm a big sports guy. So you know, last night,

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I don't know if you guys are watching the NBA playoffs,

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but everyone's been wanting the Spurs and the Oak a thunder.

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What a freaking amazing game. If you guys haven't seen it,

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you guys got to tune in. I went into Devil

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overtime and if you haven't seen this guy, Victor when

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Benama wenby, the guy is a freak of nature. Guy's

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an alien. I mean some of the plays that he does,

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some of the things he does that on the court,

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it is just it just blows my mind. I mean

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I've never seen anything like that. He's going to be

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dominating for years to come. But yeah, it was an

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amazing game. So hats off to the Spurs. I have

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a feeling it's gonna be Spurs Nicks in the finals

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and the Spurs are gonna win it all. But we'll

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see what happens. But anyways, enough about sports. We've got

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a great show for you guys today. Lisa Redberg is

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going to be joining us a little bit later on

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in the show. She's afe Insurance Settlements broker. We're going

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to be talking a little bit more about what that

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actually means and how that could be used you as

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a resource. Some very interesting stuff actually. So you know,

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we we do offer up life insurance whole life term

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i u LS. We also do a newity rollovers. So

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this is really upper alley because you know a lot

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of people have these term life insurance policies and it

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gets too expensive or they feel they just don't need

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it and they end up walking away from the policy

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and the policy just becomes deactivated. Right. Well, at least

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is gonna kind of dive into a little bit deeper

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on what we could do with in those situations. So

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so that'll be exciting stuff. And then we'll have a

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commercial later on about a how to set up small

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business group benefits. There's a couple of ways that we

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do it. We do it through cover California out here

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since we are in southern California. We also do it

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through another program where there are more options for insurance

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carriers that your company can access. So we'll walk you

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through that as well. And we've done quite a few

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small business group benefits. It saved them a lot of

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money tax wise, and we'll share tips on how to

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do that, and then we'll be going through a PowerPoint

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we've we've started a couple of weeks ago. It's the

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Medicare one on one that I do with my current

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clients as well as my prospects who are turning sixty five.

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It's a helpful guide just to walk you through the

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Medicare journey. So we'll be doing that as well. So

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a lot on the plate today. I just want to

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let you guys know our family is going on a

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summer vacation. We will be gone for three weeks. Our

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show will continue on though, So our next two weeks

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we'll have recorded sessions of some important resources for you

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guys to listen in on, and then the third week

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we'll have a replay one of our shows that got

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that twenty six hundred views, So we'll definitely replay that

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radio show for you guys. So let's carry on and

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move forward here. So first up, I'm gonna show you

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our PowerPoint, so let me present here. Awesome, okay, so

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this is Bettercare with Confidence twenty twenty six. There's me. Well, yeah,

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that is me. Like I said, if you've been listening

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in on our show, I've lost one hundred and forty pounds,

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so I definitely don't look like that anymore. But let

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and behold that's when we started our business. Just a

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little bit about myself. You know. We've been established back

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in twenty seventeen, so we've been around. It's coming up

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on ten years. I can't believe it. Based in Chino

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Chino Hills, California, which is an hour south of Los Angeles.

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We're licensed at thirty two states. My wife is a

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social worker. We've got two kids, my son age eleven

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and my daughter age fifteen. She's finishing up her sophomore

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year of high school. I can't believe that. As well.

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Time just flies the older you get. So before this

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and then we've shared the story over and over again,

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but just real quick, twenty two years experience in the

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nonprofit sector before this, and again, you know, our show

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is called Medicare Hour and More because we do more

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than specialize in Medicare. We do health insurance, life insurance,

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business insurance, liability, earthquake insurance, umbrella, you name it, we

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do it. We're you're one stop shop. We even do

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personal auto and home out here in California, so definitely

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reach out if you need help with those. An ambassador

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for the China Valley Chamber of Commerce, I sit on

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the board of directors for Rebel ranch to nonprofit organizations

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out here, and we've had awards upon awards, which is

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great and it's all because of you guys, the clients,

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so thank you for that. We actually awarded one of

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the fifty under fifty by New York City Journal. We've

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had the inter Net Award of Expertise for Chino and Pomona,

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and then for three years running we've been the best

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health insurance brokers here in the Chino Valley in twenty

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twenty three and twenty twenty four. So again we're going

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to quickly dive into the Medicare basics, important terminology, enrollment periods,

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which we've already touched on. This is hopefully a rehash

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for you guys, plan recommendations and cost assistance. So there's

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the part A and B coverage, that's what happens when

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you turn sixty five and you get onto Medicare. That's

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what we all pay into with our paychecks. And then

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original Medicare eligibility. We'll talk about who's eligible, the cost

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for Medicare. It is not free, yes, lo and behold.

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Medicare is not free. Yes, we pay into it, but

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we pay into it to keep the costs down, not

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to make it free. So people are stunned when they're

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turning sixty five gay on Medicare and they call me

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up and go, I thought Medicare was free. It's not, folks.

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I'm sorry. And then we'll talk about additional Medicare plan

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options and how to enroll. So again, the more you know,

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the easier it will be to choose the plan that's

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right for you. So what is Medicare well. Medicare is

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a federal health insurance program. It's run by CMS, which

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stands for Centers for Medicare and Medicaid Services. It's part

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of the US Department of Health and human services. So

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just keep these terms in mind. There is the premium,

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the price you pay typically on a monthly basis. You're deductible,

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the amount you pay prior to plan coverage, your copays,

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so every time you visit the doctor or a specialist,

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you're going to pay an office copay usually, and then

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co insurance the amount you pay for a service. Some

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of you guys are already familiar with these terms because

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you're on health insurance for under sixty five. So a

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regional Medicare covers many, but not all, healthcare relate services.

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And we've stressed this before in other shows. It does

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not cover long term care, so keep that in mind.

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You want to get on the ball with us when

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you're around fifty fifty five years old, because the older

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you get, the higher the cost and the more expensive

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long term care becomes. It becomes to a place where

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it might not be affordable for you guys. So please

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get with adviser like myself when you're around fifty to

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fifty five years old. But we'll talk about what medicare

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does cover. So Part A is your free coverage. Everyone's

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automatically on this when they're eligible, so inpatient hospital stays,

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skilled nursing, facility care, hospice. Yes, hospice is covered, as

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well as home health care. And again for most people,

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there's no premium. For those who don't qualify, you've been

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like a a you have a green card, let's say,

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and you've only been here for a few years, there

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is a buy in option. It is pretty pricey, but

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it's not as expensive as right their health insurance. So

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you can talk to me about that if that's a

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situation you find yourself in. So what is Part B cover? Well,

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Part B is the one where you do pay. Medicare

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is not free on this part, so it covers doctor visits,

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outpatient care, home health care, durable medical equipment, some preventive

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services such as certain vaccines and cancer screenings. Cost is

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based on income and determined by the Center for Medicare

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and Medicaid. So for twenty twenty six, that's it should

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say twenty twenty six. This year, the standard Part B

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premium for most folks is two hundred and two dollars.

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There is an ERMA chart, so based on your income,

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it could be higher. So for example, if you make over,

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you know, I think it's one hundred and ninety seven

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thousand to about two hundred and thirty thousand dollars. Your

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premium is actually going to be two hundred and eighty

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dollars per month, so you could see that it's adjusted

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the more income that you make. They do a two

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year look back. So if you get onto Medicare at

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age sixty five, they're going to look at your income

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at age sixty three, So if you're making more at

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that point, they're going to base it off of that,

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and it's your joint income tax return. It is your

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adjusted gross income that they look at. But again it's

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a two year lookback, so that premium can be adjusted

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because let's say in retirement you're going to be making

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less than what you did when you were working. Well,

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Social Security will take a look at that at some point.

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All right, So qualifications you have to be sixty five

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or older. If you're under sixty five, you have to

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have certain disabilities. You have to be on long term

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disability for twenty four months consecutively to actually qualify for Medicare,

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So keep that in mind. If you have end stage

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renal disease or have als in the first month of diagnosis,

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you have to be a citizen of the US or

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a legal resident for at least five consecutive years. So

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remember that you have to be here for five consecutive years.

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All right, So this is how you apply for Medicare.

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We've talked about this. We're going to show commercial for

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you guys next week about how to actually enroll into

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Medicare parts A and B. Option one is you go

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to your local Social Security offices. Yes, offices are now

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open with service hours after you know for a long

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time they've been closed because of COVID, So that is

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option one. Option two is you apply online. So if

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you're tech savvy, you're going to create an account at

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SSA dot gov. You're going to do what's called a

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two factor authentication, So you have to have an email

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address and a cell phone number, So if you don't

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have both of those, and that's not going to be

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a good option for you, guys. And then option three,

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which I highly don't recommend, call Social Security. The reason

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being as you're going to be on wait for hours

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on end. They are short staffed right now, and so

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I just don't recommend you calling unless you have no

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other options at that point, all right. And then the

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number is one eight hundred and seven seven to two

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one two one three. Keep that number in mind, all right.

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So initial enrollment period this is the seven month window

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that allows you to apply for and enroll in Medicare.

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It's three months prior to your sixty fifth birthday, so

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that's when you need to start getting with an advisor

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if you haven't already. My recommendation is when you're sixty

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four to start looking for an advisor, and then the

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month of your sixty fifth birthday and three months following.

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So if you enroll in that window, there is no penalty,

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all right. Funeral after there is a penalty ten percent

233
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per year for life. So it's really important that you

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find when your enrollment period is and you get on

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the ball to get onto Medicare. Now there is a

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special enrollment period. If you did not sign up for

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Parts IN and B and you're still on your employer

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health plan, then that means eight months after employment our

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group coverage ends, whichever is first. That's your window, so

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eight months if you're working, and then retire, seven months

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if you are turning sixty five and retiring at that point.

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So keep those windows in mind. A little bit different. Now,

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the other important thing to keep in mind is Cobra

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coverage is not credible coverage with Medicare. So if you

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get Cobra after you retire, that eight month window starts

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right then and there, so keep that in mind as well.

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So you can only keep Cobra for about seven and

248
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a half months, okay, without any penalties for Medicare now

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general enrollment period if again, you can enroll from January

250
00:14:56.720 --> 00:15:01.600
first through March thirty first each year, and then coverage

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begins the first of the following month. So if you

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apply on let's say February fifteenth, your coverage is going

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to start March first, all right, So and there's examples here.

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You roll in January, it's going to start February first,

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and so on. Now there's additional healthcare offense to assists

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with extra benefits, prescription drug costs, out of pocket expenses.

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We're going to talk about that. So here's your consumer choices,

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all right. So if you look at pathway number one,

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when you turn sixty five, you're going to get onto

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original Medicare. Part A is three, Part B. You're paying

261
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two two a month, and then PDP is your Part

262
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D as a dog for your prescriptions. So if you

263
00:15:46.399 --> 00:15:48.840
don't get on that, there is a penalty as well.

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You have to get on that within sixty three days.

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So that's the confusing part for a lot of folks

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is that sixty three days for Part D, but for

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Medicare itself it's a seven month window. How does that

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00:16:00.480 --> 00:16:03.080
even work? Well, that's why I tell people, you know,

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just get onto Medicare when you've got that enrollment period.

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Part D penalty happens a lot for those who are

271
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working past sixty five and then they retire. What happens

272
00:16:15.399 --> 00:16:17.840
is they get onto Medicare, they forget to get onto

273
00:16:17.879 --> 00:16:21.919
Part D, they get onto Medicare when their window opens up.

274
00:16:22.840 --> 00:16:25.799
Part D, though, is a shorter enrollment window again, sixty

275
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three days versus that eight month window. So my suggestion

276
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is always to get with an advisor right away when

277
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you come up on that kind of situation and we

278
00:16:35.799 --> 00:16:39.720
can help you through that pathway. Number two pathway is

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00:16:39.759 --> 00:16:42.840
original Medicare, which is Part A and B plus what's

280
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called the Medicare Supplement, our METAGAP and a PDP. We're

281
00:16:46.799 --> 00:16:49.879
going to break down again why a supplement might be

282
00:16:49.960 --> 00:16:54.000
a better option for folks versus an advantage plan supplement,

283
00:16:54.080 --> 00:16:56.240
though you have to pay an extra premium on top

284
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of what you're paying for Medicare. The good thing about

285
00:17:00.240 --> 00:17:04.359
supplement is it covers the twenty percent that Medicare doesn't cover.

286
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So Medicare covers eighty percent, Your supplement comes from behind

287
00:17:07.839 --> 00:17:10.680
and covers the rest of twenty percent. The only thing

288
00:17:10.720 --> 00:17:14.640
you're responsible for on a supplement plan, usually if you're

289
00:17:14.640 --> 00:17:18.240
on the highest tier plan, is two hundred and eighty

290
00:17:18.319 --> 00:17:21.960
dollars deductible per year. Once that's met, everything's paid out

291
00:17:22.000 --> 00:17:25.279
one hundred percent, So you can see your costs are negligible.

292
00:17:25.359 --> 00:17:28.559
I mean they're very low, but again you're paying an

293
00:17:28.599 --> 00:17:33.880
extra premium for your supplement, so some folks can't afford

294
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to do two premiums a month. And that premium is

295
00:17:37.480 --> 00:17:39.839
usually when you first start out, about one hundred and

296
00:17:39.960 --> 00:17:42.599
thirty one hundred and forty dollars a month, and it

297
00:17:42.680 --> 00:17:47.160
increases every year you get older. The last pathway is

298
00:17:47.200 --> 00:17:50.720
a Medicare advantage plan. Members continue to pay the Part

299
00:17:50.720 --> 00:17:54.000
B premiums. A lot of advantage plans, especially out here

300
00:17:54.000 --> 00:17:57.599
in California, are zero dollars and they include your Part

301
00:17:57.720 --> 00:18:01.319
D plan, so you're just paying two O two for

302
00:18:01.480 --> 00:18:05.200
Medicare and that's it. And then you get usually extra

303
00:18:05.240 --> 00:18:10.319
benefits like dental, vision, hearing, over the counter allowance, transportation,

304
00:18:10.480 --> 00:18:14.480
all those. Here's the downfall for advantage plan. You're in

305
00:18:14.680 --> 00:18:17.480
what's called a network, so you're in most likely an

306
00:18:17.599 --> 00:18:21.680
HMO or PPO network. You have to get authorizations. You

307
00:18:21.720 --> 00:18:26.400
could get denials for certain authorizations. So that's that's the

308
00:18:26.400 --> 00:18:30.480
detriment of a Medicare advantage plan, all right. And then

309
00:18:30.519 --> 00:18:33.920
prescription drug plans get specific lists of covered drugs. They're

310
00:18:33.920 --> 00:18:37.279
sold by private insurance companies. They have monthly premiums. There

311
00:18:37.279 --> 00:18:43.359
are tiered cowpays. You can enroll again in a standalone

312
00:18:43.400 --> 00:18:47.599
party plan, or you could have it included in the

313
00:18:50.599 --> 00:18:59.799
Medicare advantage plan. All right. Okay, so Medicare supplements over

314
00:19:00.000 --> 00:19:03.200
th team million Americans are on a supplement that help

315
00:19:03.240 --> 00:19:06.200
covers cost services not covered out of pocket. Costs can

316
00:19:06.240 --> 00:19:11.160
include copaid, deductibles, and co insurance plan types or standardized

317
00:19:11.279 --> 00:19:13.799
identified by letters of the alphabet. So you've got f

318
00:19:14.279 --> 00:19:18.119
G N as a Nancy as an apple. So we'll

319
00:19:18.119 --> 00:19:21.200
talk about that another time, because I don't want to

320
00:19:21.240 --> 00:19:24.839
go into details and confuse all of you. But those

321
00:19:24.880 --> 00:19:27.519
are the supplement plans that you hear about those letters,

322
00:19:27.559 --> 00:19:31.440
all right. They're sold by private insurance companies. Premiums vary

323
00:19:31.519 --> 00:19:35.480
by stating plan. They can require underwriting, So when you're

324
00:19:35.839 --> 00:19:38.759
turning sixty five or your first eligible for Medicare, there

325
00:19:38.799 --> 00:19:42.640
is no underwriting you're guaranteed in. However, if you start

326
00:19:42.680 --> 00:19:44.799
with a Medicare advantage plan and decide you want to

327
00:19:44.799 --> 00:19:46.720
go to a supplement at some point, then you have

328
00:19:46.799 --> 00:19:48.720
to go through underwriting and they're going to pull your

329
00:19:48.720 --> 00:19:51.720
medical records, which means there is a chance you could

330
00:19:51.720 --> 00:19:55.119
be denied for it. So my recommendation to my clients is,

331
00:19:55.160 --> 00:19:58.039
if you want to get onto a supplement plan, then

332
00:19:58.720 --> 00:20:05.240
the best way to do that at is the best

333
00:20:05.279 --> 00:20:09.559
way to do that actually is to basically get onto

334
00:20:09.599 --> 00:20:11.480
it right away and try it out for a year

335
00:20:11.559 --> 00:20:13.640
or two and then if you feel like you're not

336
00:20:13.799 --> 00:20:16.720
using it as as much as you should, then that's

337
00:20:16.759 --> 00:20:20.319
where you go to a Medicare advantage plan. So that's

338
00:20:20.319 --> 00:20:25.559
a better opportunity, better pathway, per se, if you want

339
00:20:25.599 --> 00:20:28.000
to try a supplement plan and they're not going to

340
00:20:28.039 --> 00:20:36.640
ploy your medical records, all right, and then covers parts

341
00:20:36.680 --> 00:20:39.680
A and B benefits. This is the part seed advantage plan.

342
00:20:39.880 --> 00:20:43.079
It includes Medicare advantage only. It can also include your

343
00:20:43.079 --> 00:20:46.319
Part D. Monthly premiums vary by plan. Like I said,

344
00:20:46.440 --> 00:20:50.480
out here in southern California, majority of plans are zero dollars,

345
00:20:51.559 --> 00:20:55.160
generally have a network of doctors and hospitals. They're sold

346
00:20:55.200 --> 00:20:59.160
by private insurance companies, typically guaranteed issue, and they're not

347
00:20:59.160 --> 00:21:02.519
going to look at pre conditions. You either have to

348
00:21:02.519 --> 00:21:05.039
have an advantage plan or supplement. You can't have both,

349
00:21:05.200 --> 00:21:07.359
so just keep that in mind. You have to be

350
00:21:07.519 --> 00:21:12.200
in Parts and B to be eligible, all right, So

351
00:21:12.400 --> 00:21:15.759
again seven month window, that's the initial when you're turning

352
00:21:15.799 --> 00:21:21.759
sixty five. Special enrollment is year round. Special enrollment includes

353
00:21:22.319 --> 00:21:26.440
you know, FEMA disaster responses. So let's say a hurricane

354
00:21:26.519 --> 00:21:29.480
happens or a big storm out here in California, then

355
00:21:29.519 --> 00:21:34.279
you can actually enroll at that time into Medicare advantage.

356
00:21:34.559 --> 00:21:36.759
The other special enrollments would be if you move out

357
00:21:36.759 --> 00:21:41.759
of state, if a situation happens where you've got diabetes

358
00:21:41.880 --> 00:21:45.960
or chronic health condition like lung disease or heart disease,

359
00:21:46.519 --> 00:21:50.559
that's also a special enrollment period. And then annual election

360
00:21:50.640 --> 00:21:54.319
period is October fifteenth through December seventh. Open enrollment period

361
00:21:54.440 --> 00:21:56.559
is January first to March thirty first, So there's so

362
00:21:56.640 --> 00:21:59.599
many different enrollment periods. This is another reason why you

363
00:21:59.599 --> 00:22:04.039
should get with a expert like myself, just because you

364
00:22:04.119 --> 00:22:07.359
want to get walked through and make sure when those

365
00:22:07.440 --> 00:22:10.400
enrollment periods come up that you're able to review your

366
00:22:10.400 --> 00:22:13.960
plan with your advisor, that you know when to enroll

367
00:22:14.000 --> 00:22:19.799
and when to switch your plans. Oh kay, we've already

368
00:22:19.839 --> 00:22:24.480
talked about this. It's just a rehash again. These are

369
00:22:24.519 --> 00:22:28.680
the special reasons. Remember, Cobra and retiree health plans are

370
00:22:28.680 --> 00:22:32.480
not considered credible medical coverage. When this coverage ends, you

371
00:22:32.519 --> 00:22:35.680
may increlate enrollment period. So remember you're when you're on

372
00:22:35.799 --> 00:22:43.400
Cobra that window starts. Okay, all right, again just an overview.

373
00:22:45.839 --> 00:22:49.759
We've covered this in other radio shows. But January first

374
00:22:49.799 --> 00:22:52.160
through March sery first, you can switch to a different

375
00:22:52.160 --> 00:22:55.319
Medicare advantage plan, or disenroll from a Medicare advantage plan,

376
00:22:55.400 --> 00:22:58.039
switch back to original Medicare and roll in the Part

377
00:22:58.119 --> 00:23:02.240
D plan. So that's another open enrollment period for you guys.

378
00:23:02.599 --> 00:23:06.200
There are cost assistance, there's extra help, it's called Low

379
00:23:06.240 --> 00:23:11.440
Income Subsidy LIS. Again, if you don't qualify for medical

380
00:23:11.640 --> 00:23:15.400
or Medicaid, you might still qualify for prescription drug help.

381
00:23:15.480 --> 00:23:17.119
So again this is why you want to get with

382
00:23:17.160 --> 00:23:19.839
an expert to see if you fall in that window.

383
00:23:20.720 --> 00:23:23.680
It's very easy to apply for it and it's free,

384
00:23:23.799 --> 00:23:26.400
doesn't cost you anything. They'll just get an approval or

385
00:23:26.440 --> 00:23:30.519
denial in the mail. Again, there is medical out here

386
00:23:30.559 --> 00:23:33.480
in Southern California or Medicaid. You do have to be

387
00:23:33.640 --> 00:23:37.920
about a nineteen thousand dollars single gross income for the

388
00:23:38.000 --> 00:23:42.119
year are below that to qualify. There is a lot

389
00:23:42.160 --> 00:23:45.240
of paperwork and it does take a long time to process.

390
00:23:45.279 --> 00:23:48.400
I will have you keep that in mind as well,

391
00:23:48.759 --> 00:23:53.319
all right, And then there are Medicare savings programs programs

392
00:23:53.319 --> 00:23:56.039
for all inclusive care for elderly programs are called PACE,

393
00:23:57.119 --> 00:24:01.440
and PACE actually can go for people age fifty five

394
00:24:01.599 --> 00:24:07.079
or older, so that's an option as well. So when

395
00:24:07.119 --> 00:24:08.880
you choose a plan, you're going to get with an

396
00:24:08.880 --> 00:24:12.200
expert like myself, and you're gonna you know, we're going

397
00:24:12.279 --> 00:24:14.920
to go for your budget, your doctors, your drug costs,

398
00:24:15.240 --> 00:24:18.880
your frequency of care, your likes and dislikes, travel, habits

399
00:24:18.960 --> 00:24:25.759
and what's important you benefit wise, all right, and then

400
00:24:25.799 --> 00:24:28.640
this is where you know, obviously I ask Q and

401
00:24:28.680 --> 00:24:31.519
a's with my prospects. So I show this slideshow to

402
00:24:32.319 --> 00:24:36.359
again my current clients, people looking to enroll into Medicare.

403
00:24:36.480 --> 00:24:40.119
So they're they're called prospects, people who are at assistem

404
00:24:40.119 --> 00:24:43.000
of living centers or senior centers. We do this presentation

405
00:24:43.599 --> 00:24:45.079
and then we have a Q and A at the end,

406
00:24:45.559 --> 00:24:48.759
so I know I went through that really really fast. Again,

407
00:24:48.799 --> 00:24:53.039
this is recorded, it's live. We'll be on Apple Podcasts

408
00:24:53.359 --> 00:24:55.839
so you can re listen to all this. But again,

409
00:24:55.880 --> 00:24:59.000
we also have this Medicare one on one webinar that

410
00:24:59.039 --> 00:25:02.720
you can sign up for on our website Josephinsurancebroker dot com.

411
00:25:03.039 --> 00:25:06.039
We go through this a lot slower, I promise, and

412
00:25:07.279 --> 00:25:09.480
you know, we can walk you through each of the parts.

413
00:25:09.519 --> 00:25:13.799
We can stop, have you you know, ask questions and

414
00:25:13.839 --> 00:25:16.960
we can answer them right on the spot. So if

415
00:25:17.000 --> 00:25:19.680
you want to sign up for a seminar, please just

416
00:25:19.799 --> 00:25:23.519
go to our site and it is in big blue.

417
00:25:23.680 --> 00:25:26.960
You just click that button, put in your information and

418
00:25:27.039 --> 00:25:30.200
schedule a time with me to walk through this seminar.

419
00:25:31.559 --> 00:25:34.519
All right, I will be right back. I'm gonna grab

420
00:25:34.559 --> 00:25:39.440
something real quick, give me one sec insurance settlement broker

421
00:25:40.119 --> 00:25:44.759
and let me exit out of do this. There we go?

422
00:25:45.119 --> 00:25:50.519
All right? All right, Lisa, are you there here?

423
00:25:51.640 --> 00:25:52.319
I'm right here.

424
00:25:52.720 --> 00:25:53.599
Hey, how are you?

425
00:25:53.960 --> 00:25:55.599
I'm doing good? Thank you.

426
00:25:56.240 --> 00:25:59.000
I'm so glad to have you on our show. We

427
00:25:59.119 --> 00:26:02.759
appreciate you and the time for us this morning. Why

428
00:26:02.799 --> 00:26:05.640
don't you just give us a little background of yourself,

429
00:26:06.240 --> 00:26:10.039
where you're located, and how you got into this business. Yeah.

430
00:26:10.079 --> 00:26:12.480
So my name is Lisa Raber, the company's Rayberg Life

431
00:26:12.480 --> 00:26:16.039
Insurance Settlements, and I have been in the insurance industry. Gosh,

432
00:26:16.079 --> 00:26:18.359
I'm going to have to admit this over thirty five years.

433
00:26:19.119 --> 00:26:19.640
Wow.

434
00:26:19.680 --> 00:26:19.960
Wow.

435
00:26:20.440 --> 00:26:23.920
Yep, just focused on life settlements for the last ten years.

436
00:26:24.839 --> 00:26:29.119
And it's awesome because we are another way for clients

437
00:26:29.160 --> 00:26:32.240
to receive money and more money for their life insurance

438
00:26:32.279 --> 00:26:34.839
policies than just walking away from them with zero.

439
00:26:35.799 --> 00:26:37.920
Okay, well we're going to get into that. I did

440
00:26:38.079 --> 00:26:41.480
briefly share with my audience about that. Obviously, you know,

441
00:26:41.559 --> 00:26:45.200
our brokerage offers life insurance and so this is key

442
00:26:45.319 --> 00:26:48.519
for them because we do run into situations a lot

443
00:26:48.559 --> 00:26:51.400
where people walk away and so we're going to talk

444
00:26:51.440 --> 00:26:57.960
about that. So what is basically a life insurance settlement,

445
00:26:58.079 --> 00:26:58.839
Let's start there.

446
00:26:59.119 --> 00:27:02.200
Yep, it's just a financial transaction. So think about it

447
00:27:02.279 --> 00:27:04.640
like selling your car. Your life insurance policy is an

448
00:27:04.640 --> 00:27:08.119
asset that people own and they don't realize it. Any

449
00:27:08.119 --> 00:27:11.359
life insurance policy, including term policies, and so this is

450
00:27:11.400 --> 00:27:14.079
going to parallel selling a car. When you sell a car,

451
00:27:14.119 --> 00:27:16.599
which is another asset, you receive a lump sum of

452
00:27:16.640 --> 00:27:19.160
money and you sign the pink slip of the car

453
00:27:19.400 --> 00:27:21.759
over to the buyer, and the buyer walks away with it. Right,

454
00:27:22.279 --> 00:27:25.519
it's very similar. Clients receive a lump sum of money,

455
00:27:25.799 --> 00:27:27.559
they're going to sign the pink slip of their life

456
00:27:27.599 --> 00:27:30.519
insurance policy a change of ownership form to the buyer.

457
00:27:30.880 --> 00:27:34.480
The buyer's taking over the policy, they're making the premium payments,

458
00:27:34.720 --> 00:27:37.920
and they're making themselves the beneficiary. So the client is

459
00:27:37.960 --> 00:27:40.680
still insured now with a lump sum of money. But

460
00:27:40.759 --> 00:27:44.400
for the buyer, which tends to be institutional money by

461
00:27:44.440 --> 00:27:49.839
the way, it's an investment, it's pure numbers for them.

462
00:27:50.160 --> 00:27:52.960
So they're important because without them we can't help clients.

463
00:27:52.960 --> 00:27:54.480
But we're on team client.

464
00:27:54.799 --> 00:27:57.359
Okay, and then so what kind of policies are we

465
00:27:57.440 --> 00:28:01.880
talking about? Are we talking about term? You alls? All

466
00:28:01.880 --> 00:28:02.279
of it?

467
00:28:03.000 --> 00:28:04.440
Yes, yeah, all of it.

468
00:28:04.920 --> 00:28:07.599
Okay, here's what we see most often, though. We see

469
00:28:07.680 --> 00:28:11.160
universal life policies a lot, and the reason for that

470
00:28:11.359 --> 00:28:14.960
is as we get older, the cost of insurance goes up.

471
00:28:15.039 --> 00:28:17.279
Most people think, I buy this universal life policy and

472
00:28:17.279 --> 00:28:18.920
I pay one hundred dollars a month or whatever it

473
00:28:18.960 --> 00:28:22.880
is forever, and that's not true. It accumulates cash, as

474
00:28:22.920 --> 00:28:24.960
you well know. But over time, if the client is

475
00:28:24.960 --> 00:28:26.720
still paying one hundred dollars a month but the cost

476
00:28:26.720 --> 00:28:29.279
of insurance is five hundred dollars a month, four hundred

477
00:28:29.279 --> 00:28:29.799
dollars a month.

478
00:28:29.799 --> 00:28:31.720
Is going to come out of that. So we see

479
00:28:31.759 --> 00:28:34.039
clients all the time that have.

480
00:28:34.079 --> 00:28:36.839
Little cash or no cash, and they have to put

481
00:28:36.880 --> 00:28:39.279
more money into the policy and they either don't want

482
00:28:39.319 --> 00:28:43.799
to or can't. And so that's our number one seller,

483
00:28:43.839 --> 00:28:46.799
if you will. And the second is term policies. Actually,

484
00:28:47.039 --> 00:28:50.119
especially if they're still convertible to permit policies whole life

485
00:28:50.160 --> 00:28:52.480
we do sell. They're just a little bit tougher because

486
00:28:52.519 --> 00:28:54.400
they sent they tend to hold a lot of cash,

487
00:28:54.400 --> 00:28:56.759
and the prems tend to be more expensive but still doable.

488
00:28:57.559 --> 00:29:00.240
Now, does the term life have to be convertible? Can

489
00:29:00.279 --> 00:29:02.319
I just be a regular term life? Yeah?

490
00:29:02.400 --> 00:29:06.319
Typically, most term policies are convertible to permanent policies at

491
00:29:06.319 --> 00:29:09.759
some point in time, right during the term period. And

492
00:29:09.920 --> 00:29:12.440
convertible means you can literally you can convert it to

493
00:29:12.480 --> 00:29:15.279
a permanent policy like universal life or whole life with

494
00:29:15.319 --> 00:29:18.200
no health questions. And that's really important. So ninety seven

495
00:29:18.279 --> 00:29:20.440
ninety eight percent of the time the policy does need

496
00:29:20.480 --> 00:29:24.480
to be convertible. Still, but doing math being the finance major,

497
00:29:24.519 --> 00:29:27.559
I am right two the time, two to three percent

498
00:29:27.599 --> 00:29:30.359
of the time, we can still sell non convertible term policies.

499
00:29:30.920 --> 00:29:35.559
Okay, good to know. And then let's start with what

500
00:29:35.599 --> 00:29:37.680
can people do with the money that they would get

501
00:29:37.720 --> 00:29:38.599
from this settlement.

502
00:29:39.319 --> 00:29:40.119
Yeah, it's awesome.

503
00:29:40.440 --> 00:29:43.160
So like you sell your car, you can do anything

504
00:29:43.200 --> 00:29:45.119
with the money you want, right, same thing at the house,

505
00:29:45.200 --> 00:29:47.200
do anything with the money you want. It's the same thing.

506
00:29:47.680 --> 00:29:51.039
So clients can pay for long term care expenses or

507
00:29:51.079 --> 00:29:54.079
buy long term care insurance from you, Peter, or you know,

508
00:29:54.240 --> 00:29:56.839
maybe invest that in an annuity or pay down their house.

509
00:29:57.000 --> 00:30:00.119
Or we had a client got funded. You called on

510
00:30:00.119 --> 00:30:02.480
Saturday morning. He got funded on Friday night, and he's like,

511
00:30:02.519 --> 00:30:05.599
we're paying off the car on Monday. Yeah, going around

512
00:30:05.640 --> 00:30:06.279
the world cruise.

513
00:30:06.359 --> 00:30:10.200
Does it matter? There's absolute no restrictions, Okay, okay.

514
00:30:10.240 --> 00:30:13.680
And then so we know that there's tax benefits to

515
00:30:13.759 --> 00:30:16.440
having life insurance, right, and so the death benefit isn't

516
00:30:16.480 --> 00:30:20.279
tax So in this case you get a settlement, is

517
00:30:20.319 --> 00:30:20.960
that taxed?

518
00:30:22.000 --> 00:30:24.880
It's a good question. And here's my caveat. I'm not

519
00:30:24.960 --> 00:30:27.880
a CPA or a tax professional to give tax advice, right,

520
00:30:27.920 --> 00:30:30.079
you know that caveat. But here's the answer to the question.

521
00:30:31.720 --> 00:30:33.559
Think about this once again, like an asset. So the

522
00:30:33.599 --> 00:30:36.400
premiums that a client has put into the policy from

523
00:30:36.480 --> 00:30:40.079
the beginning of the policy, the very beginning, that is

524
00:30:40.119 --> 00:30:43.400
a basis. It's what they've paid for this asset. So

525
00:30:43.559 --> 00:30:48.119
if the settlement money's underneath that amount, and many times

526
00:30:48.119 --> 00:30:50.839
it is, there should be no tax on it because

527
00:30:50.839 --> 00:30:53.880
they're getting less back than what they paid into it.

528
00:30:54.599 --> 00:30:56.720
Over that amount I'm going to use their typically is

529
00:30:56.839 --> 00:30:58.720
typically long term capital gains.

530
00:30:58.759 --> 00:31:00.640
So up to that basis should be no tax over

531
00:31:00.680 --> 00:31:01.599
that's typically.

532
00:31:01.319 --> 00:31:03.640
Long term capital gains. And I don't want to get

533
00:31:03.680 --> 00:31:05.480
too wonky. There could be a you know, there's a

534
00:31:05.519 --> 00:31:07.559
gain inside the policy that little cord or could be

535
00:31:07.640 --> 00:31:12.759
ordinary income but typically not taxed long term capital gains.

536
00:31:13.000 --> 00:31:17.480
Okay, okay, And then let's say, because we've got clients

537
00:31:17.519 --> 00:31:21.480
listening in, I'm sure. So if my clients have something

538
00:31:21.519 --> 00:31:24.079
where they want to walk away, what's their first step.

539
00:31:25.200 --> 00:31:27.680
The first step is to call you right and have

540
00:31:27.759 --> 00:31:30.000
the conversation about the policy, because I look at us,

541
00:31:30.039 --> 00:31:31.000
it's the last stop on.

542
00:31:30.960 --> 00:31:31.839
The bus line.

543
00:31:31.960 --> 00:31:35.119
And the reason I say that is clients have already

544
00:31:35.160 --> 00:31:38.759
had conversations with their advisors like you that have talked

545
00:31:38.759 --> 00:31:41.680
about can I reduce the face amount to reduce my premium?

546
00:31:41.680 --> 00:31:43.799
Are there other ten thirty five exchange? Are there other

547
00:31:43.839 --> 00:31:47.000
options for the policy to do what the client needs

548
00:31:47.039 --> 00:31:51.359
it to do. But once it becomes apparent to you

549
00:31:51.440 --> 00:31:54.559
and the client that the policy is not wanted, not needed,

550
00:31:54.680 --> 00:31:57.680
or they want to repurpose it into making their life

551
00:31:57.759 --> 00:32:00.319
more comfortable, like maybe paying for us to live our

552
00:32:00.319 --> 00:32:03.480
home care whatever bottom lines. Once we get to that point,

553
00:32:03.680 --> 00:32:06.519
that's where we come in. We're here to get clients

554
00:32:06.599 --> 00:32:09.240
more money than just lapsing or surrendering.

555
00:32:09.839 --> 00:32:13.319
Okay, that makes sense. So you guys heard it here.

556
00:32:13.400 --> 00:32:17.119
You call me first and then we'll get your ball rolling.

557
00:32:17.240 --> 00:32:20.960
So are there certain age ranges or health situations that

558
00:32:21.039 --> 00:32:23.000
make someone more likely to qualify it?

559
00:32:23.920 --> 00:32:28.039
Yeah, So think about us like opposite regular life insurance world,

560
00:32:28.079 --> 00:32:30.759
like literally completely opposite. Turn it upside down and that's

561
00:32:30.759 --> 00:32:35.119
our world. The buyers, bluntly are not looking for their

562
00:32:35.240 --> 00:32:38.759
investment to pay off in forty years. So if someone's

563
00:32:38.799 --> 00:32:41.160
thirty three years old and running marathons, we are not

564
00:32:41.400 --> 00:32:42.000
going to be.

565
00:32:42.400 --> 00:32:43.160
The best solution.

566
00:32:43.680 --> 00:32:47.559
The older somebody is, the more health impairment somebody has,

567
00:32:47.839 --> 00:32:50.680
actually the better, the more valuable their policy is. The

568
00:32:50.759 --> 00:32:54.200
shorter that life expectancy is, the more valuable the policy is,

569
00:32:54.200 --> 00:32:57.880
because once again bluntly, the investors believe they're going.

570
00:32:57.759 --> 00:32:59.119
To get their payoff sooner.

571
00:32:59.440 --> 00:33:03.279
So there's not an age guideline, if you will, it's

572
00:33:03.279 --> 00:33:04.720
a combination of age and health.

573
00:33:04.759 --> 00:33:05.880
We do have clients in.

574
00:33:05.880 --> 00:33:09.960
Their fifties they have significant health issues. If someone's in

575
00:33:10.000 --> 00:33:12.759
their eighties they can be pretty healthy. So it just depends.

576
00:33:13.039 --> 00:33:15.359
The buyers are looking for clients bluntly with ten to

577
00:33:15.400 --> 00:33:19.920
fifteen years, sometimes twenty years of life expectance or less.

578
00:33:20.279 --> 00:33:23.279
Okay, good to know, good to know. And then you know,

579
00:33:23.319 --> 00:33:25.640
we talked about what people can do with the money.

580
00:33:26.480 --> 00:33:29.240
How much money are we talking about in certain situations?

581
00:33:29.279 --> 00:33:32.240
I mean, can some policies actually be worth quite a bit?

582
00:33:33.680 --> 00:33:37.920
They can? And I love the opportunity to be here

583
00:33:37.960 --> 00:33:41.440
to raise visibility because so many people will just walk

584
00:33:41.440 --> 00:33:43.519
away from their policies because they don't know there's an option.

585
00:33:44.079 --> 00:33:46.440
Here's the answer to your question. The short answer is

586
00:33:46.519 --> 00:33:49.160
it depends. It depends upon a client's policy.

587
00:33:49.160 --> 00:33:49.599
Because No.

588
00:33:49.680 --> 00:33:52.720
Two one hundred thousand dollars term policies are the same No.

589
00:33:52.799 --> 00:33:54.920
Two hundred thousand dollars and one hundred thousand dollars a

590
00:33:54.920 --> 00:33:58.039
face value or death benefit of hires. Typically we're looking

591
00:33:58.079 --> 00:34:01.200
for No. Two hundred thousand dollars. Universal life policies will

592
00:34:01.200 --> 00:34:03.920
saying the clients to seventy six year olds can be

593
00:34:03.920 --> 00:34:06.319
completely different from a life expectancy perspective.

594
00:34:06.720 --> 00:34:08.400
But here's the answer to your question.

595
00:34:09.039 --> 00:34:12.400
Literally, policies can be worth tens of thousands or hundreds

596
00:34:12.599 --> 00:34:15.800
of thousands of dollars. Once again, from an asset that

597
00:34:15.840 --> 00:34:18.039
the client's going to walk away from with little or nothing.

598
00:34:18.840 --> 00:34:21.840
Wow, okay, okay, all right, So we're gonna We're going

599
00:34:21.880 --> 00:34:24.679
to end our session today with just rapid fire questions.

600
00:34:25.440 --> 00:34:27.599
You can just answer them the best you want and

601
00:34:27.639 --> 00:34:30.960
then and then we'll finish things out. Just to let

602
00:34:30.960 --> 00:34:32.760
our audience know, Lisa is going to be back on

603
00:34:32.840 --> 00:34:36.199
a couple more times. So there's a lot of helpful information.

604
00:34:36.400 --> 00:34:38.960
Thank you so much for sharing this, Lisa. My clar

605
00:34:39.599 --> 00:34:43.159
first question, most surprising thing people learn about life settlements?

606
00:34:44.079 --> 00:34:47.840
Ah, they are legal and highly regulated by departments of

607
00:34:47.840 --> 00:34:51.079
insurance across the country. And qualify that too by saying

608
00:34:51.119 --> 00:34:53.320
most people have no idea this exists, so I should

609
00:34:53.360 --> 00:34:55.079
probably say that it exists to start with.

610
00:34:55.280 --> 00:34:59.599
Okay, No, that's great, that's great, Okay, keep it, surrender it,

611
00:34:59.719 --> 00:35:02.119
or explore selling it? What should people do? First?

612
00:35:03.239 --> 00:35:07.840
They should talk about you know, they should they should

613
00:35:07.840 --> 00:35:11.000
do explore selling it. Bottom line, sorry, they should explore

614
00:35:11.000 --> 00:35:13.039
SELLI it because worst case scenario is that we don't

615
00:35:13.400 --> 00:35:16.000
If we don't sell it, maybe the buyers don't have

616
00:35:16.400 --> 00:35:18.679
any offers for a client. Then at least they know

617
00:35:18.840 --> 00:35:20.320
what the best solution is and they have all the

618
00:35:20.320 --> 00:35:22.360
information to make the best decision for them their family.

619
00:35:22.880 --> 00:35:27.320
Okay. Perfect. One reason a policy owner should pause before

620
00:35:27.440 --> 00:35:28.599
letting a policy lapse.

621
00:35:28.960 --> 00:35:32.360
Yeah, you know, ask yourself do you need this policy?

622
00:35:32.559 --> 00:35:32.760
Right?

623
00:35:33.119 --> 00:35:35.880
And second of all, if a policy lapses, there's no

624
00:35:35.960 --> 00:35:39.440
asset to sell. So please do not let a policy

625
00:35:39.480 --> 00:35:42.280
lapse or surrender before you talk to you Peter about

626
00:35:42.880 --> 00:35:43.760
a life settlement.

627
00:35:44.360 --> 00:35:48.679
Okay, one myth about selling a life insurance policy that

628
00:35:48.800 --> 00:35:49.840
needs to disappear.

629
00:35:50.280 --> 00:35:53.159
Ah, there's a lot of gosh the good questions. There's

630
00:35:53.159 --> 00:35:56.760
a lot of compliance in our market. Beneficiaries must sign

631
00:35:56.800 --> 00:35:59.639
off and a client's doctor must sign that they're have

632
00:35:59.679 --> 00:36:03.320
sound mine to complete the transaction. So so many people think, oh,

633
00:36:03.400 --> 00:36:05.119
this is only for people that are in their eighties

634
00:36:05.159 --> 00:36:07.559
or nineties, and that's not true, and that oh, this

635
00:36:07.639 --> 00:36:10.920
is unregulated and there's a ton of compliance in our

636
00:36:10.920 --> 00:36:12.519
market for all the right reasons.

637
00:36:12.840 --> 00:36:17.360
Okay, all right. Most meaningful use of settlement money you've

638
00:36:17.400 --> 00:36:19.480
seen in your experience.

639
00:36:20.159 --> 00:36:23.880
Oh wow, you know, I've seen clients use it to

640
00:36:24.000 --> 00:36:26.639
fund long term care. They're in assisted living, they're running

641
00:36:26.639 --> 00:36:29.760
out of money, or maybe the long term care policy

642
00:36:29.800 --> 00:36:32.800
isn't covering everything, whatever it is, so they've repurposed the

643
00:36:32.880 --> 00:36:35.440
money into making their life more comfortable.

644
00:36:36.119 --> 00:36:39.159
That's great, that's great. And then one word you want

645
00:36:39.159 --> 00:36:44.559
people to associate with life settlements, just one word money.

646
00:36:44.639 --> 00:36:48.559
All right, that's awesome. Well, Lisa, you've already taught me

647
00:36:48.800 --> 00:36:53.320
so much about life settlements and our clients definitely appreciate

648
00:36:53.320 --> 00:36:56.800
this information. Again, if you guys are interested in learning

649
00:36:56.800 --> 00:37:01.079
more about this, you know, he leads Lisa's advice, do

650
00:37:01.199 --> 00:37:04.280
not let your policy lapse before talking to me, and

651
00:37:04.320 --> 00:37:07.239
then we will advise you on what the best thing

652
00:37:07.320 --> 00:37:10.280
is to do. All right, all right, Lisa, thank you

653
00:37:10.360 --> 00:37:12.920
so much for your time. We appreciate you. We hope

654
00:37:12.960 --> 00:37:15.559
you have a wonderful week and we'll see you again

655
00:37:15.599 --> 00:37:16.800
in a couple of months.

656
00:37:17.199 --> 00:37:19.159
Sounds great. Thank you so much. Peter, have a great day.

657
00:37:19.159 --> 00:37:24.320
You're welcome you too. Bye bye. It all that was awesome. Wow,

658
00:37:24.360 --> 00:37:27.519
that is some great information stuff that I didn't even

659
00:37:27.559 --> 00:37:31.400
know about until now. And so you know, we have

660
00:37:31.440 --> 00:37:34.199
a lot of our clients that we service uh term

661
00:37:34.280 --> 00:37:39.559
policies that are convertible and universal life policy. So again,

662
00:37:39.800 --> 00:37:42.440
you know, if you're older and you're looking to get

663
00:37:42.480 --> 00:37:45.320
some cash for a certain reason, especially if it comes

664
00:37:45.320 --> 00:37:48.079
to long term care assisted living, please reach out to me.

665
00:37:48.159 --> 00:37:50.719
My number is nine oh nine two one seven two

666
00:37:50.800 --> 00:37:54.760
six three zero. We can get you on our calendar

667
00:37:54.880 --> 00:37:59.559
and definitely walk you through that process. All right, So

668
00:37:59.840 --> 00:38:07.440
I'm going to try to show a video, so give

669
00:38:07.440 --> 00:38:12.440
me one second here. So this is going to be

670
00:38:12.480 --> 00:38:15.079
a commercial and we're going to talk more in length

671
00:38:15.119 --> 00:38:20.199
about this next radio show. But this is a commercial

672
00:38:20.239 --> 00:38:23.159
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673
00:38:23.159 --> 00:38:25.280
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674
00:38:25.360 --> 00:38:30.519
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675
00:38:30.599 --> 00:38:31.760
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676
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677
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678
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679
00:38:45.079 --> 00:38:47.880
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680
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681
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682
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683
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684
00:38:59.800 --> 00:39:02.599
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685
00:39:02.639 --> 00:39:05.320
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686
00:39:05.360 --> 00:39:07.760
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687
00:39:07.760 --> 00:39:11.280
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688
00:39:11.719 --> 00:39:14.000
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689
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690
00:39:17.840 --> 00:39:19.800
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691
00:39:20.199 --> 00:39:21.280
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692
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693
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694
00:39:27.320 --> 00:39:29.679
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695
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696
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697
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698
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699
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700
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701
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702
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We're here to help, all right, that was awesome. I'm

703
00:39:56.119 --> 00:39:58.519
starting to learn more about our radio show and what

704
00:39:58.559 --> 00:40:00.880
I can and can't do, so thank you all for

705
00:40:00.920 --> 00:40:03.559
bearing with me. But again, you want to call me directly,

706
00:40:03.599 --> 00:40:07.519
and don't call that number. We are certified Cover California agency.

707
00:40:08.320 --> 00:40:11.880
We've set up clients before with small business group benefits

708
00:40:11.920 --> 00:40:19.639
through Cover California. Again, you know, there is another program

709
00:40:19.679 --> 00:40:22.800
that will offer a little bit more insurance carriers than

710
00:40:22.800 --> 00:40:25.840
cover California does, but you do get tax breaks on

711
00:40:25.960 --> 00:40:29.199
those health premiums. Just keep in mind that you do

712
00:40:29.320 --> 00:40:32.760
have to pay at least fifty percent of your employee premium.

713
00:40:32.800 --> 00:40:36.679
If you set up these benefits for your employees, you

714
00:40:36.679 --> 00:40:38.559
can actually cover up to one hundred percent, but the

715
00:40:38.599 --> 00:40:42.639
minimum is fifty percent, and so it might be a

716
00:40:42.719 --> 00:40:44.760
cheaper way, especially if you're a smaller business with just

717
00:40:44.800 --> 00:40:47.920
a couple employees versus justus getting your own family plan.

718
00:40:48.400 --> 00:40:51.079
If you're a family that owns a business and have

719
00:40:51.320 --> 00:40:56.199
just a couple employees, it makes it just makes more

720
00:40:56.280 --> 00:40:58.840
sense to set up group benefits because you're going to

721
00:40:58.920 --> 00:41:04.119
save exponentially more on those taxes versus just having a

722
00:41:04.159 --> 00:41:07.800
private health insurance plan yourself. All right, So please reach

723
00:41:07.840 --> 00:41:10.400
out to me and we can walk you through that again.

724
00:41:10.559 --> 00:41:14.280
Josephinsurancebroker dot com is our website and you can find

725
00:41:14.320 --> 00:41:17.519
more information about that on our site and we'll dive

726
00:41:17.559 --> 00:41:22.960
a little bit deeper into the benefits and the negatives

727
00:41:22.960 --> 00:41:26.199
of setting up small group benefits on our next show.

728
00:41:26.960 --> 00:41:29.559
I did pull up because I did go through that

729
00:41:31.039 --> 00:41:33.840
power presentation pretty fast, but I did pull up the

730
00:41:33.840 --> 00:41:36.719
IRMA chart for this year, so I just want you

731
00:41:36.760 --> 00:41:43.800
to hear this. If you are filing jointly or single,

732
00:41:43.880 --> 00:41:46.000
so single is one hundred and nine thousand or less,

733
00:41:46.400 --> 00:41:48.119
you'll be paying that two O two a month for

734
00:41:48.199 --> 00:41:51.960
Part B for Medicare. If you're making a joint to

735
00:41:52.159 --> 00:41:56.840
eighteen k or less, you're paying that two two anything

736
00:41:56.960 --> 00:41:59.800
above to eighteen all the way up to two hundred

737
00:41:59.800 --> 00:42:03.079
and some four thousand dollars. For joint, you're gonna be

738
00:42:03.079 --> 00:42:06.039
paying two hundred and eighty four dollars a month on

739
00:42:06.159 --> 00:42:09.039
Part B, and then Part D you're gonna pay an

740
00:42:09.039 --> 00:42:13.719
additional fourteen dollars a month. If you are a single,

741
00:42:13.800 --> 00:42:15.880
you're making one hundred nine thousand dollars through one hundred

742
00:42:15.920 --> 00:42:18.639
and thirty seven thousand dollars, you will be paying that

743
00:42:18.679 --> 00:42:22.039
two eighty four a month and fourteen fifty again, and

744
00:42:22.079 --> 00:42:27.360
then the next level. I'll just go for the next

745
00:42:27.360 --> 00:42:30.800
two and I'll have this sheet available for you guys

746
00:42:31.599 --> 00:42:34.039
in our presentation if you ever sign up for a webinar.

747
00:42:34.480 --> 00:42:36.280
But again, if you're making two hundred and seventy four

748
00:42:36.320 --> 00:42:39.320
thousand through three hundred and forty two thousand joint, then

749
00:42:39.360 --> 00:42:41.760
your Part B jumps up to four or five a month,

750
00:42:41.800 --> 00:42:45.079
so you could see it is significant your Part D

751
00:42:45.159 --> 00:42:47.639
will be thirty seven dollars a month. If you're single

752
00:42:47.719 --> 00:42:50.320
and you make one hundred and thirty seven K up

753
00:42:50.360 --> 00:42:53.159
to one hundred and seventy one K, then you will

754
00:42:53.199 --> 00:42:55.480
be also paying that four or five a month as

755
00:42:55.480 --> 00:42:57.679
well that thirty seven dollars for Part D as a

756
00:42:57.760 --> 00:43:01.039
dog for prescriptions. And then the last one I'm going

757
00:43:01.119 --> 00:43:06.320
to do is if you are making three hundred and

758
00:43:06.360 --> 00:43:09.679
forty two thousand dollars up until four hundred and ten

759
00:43:09.760 --> 00:43:13.079
thousand dollars per year joint, you will be paying five

760
00:43:13.199 --> 00:43:16.360
twenty seven a month for Part B and sixty dollars

761
00:43:16.400 --> 00:43:19.440
a month for Part D. If you are single and

762
00:43:19.480 --> 00:43:23.159
you're making one hundred and seventy one K up up

763
00:43:23.199 --> 00:43:26.480
to two hundred and five thousand K, then you are

764
00:43:26.519 --> 00:43:28.800
paying that five to twenty seven a month and sixty

765
00:43:28.840 --> 00:43:33.000
dollars Part D. So the more money make, you know, obviously,

766
00:43:33.159 --> 00:43:36.800
the more costly your premium becomes on your Part B

767
00:43:37.280 --> 00:43:40.199
as well as your Part D plan, So keep that

768
00:43:40.280 --> 00:43:43.880
in mind. It's still probably gonna be cheaper than being

769
00:43:43.880 --> 00:43:48.760
on a traditional private health insurance plan because a lot

770
00:43:48.800 --> 00:43:54.320
of those costs are covered hospitalizations are covered through even

771
00:43:54.320 --> 00:43:57.159
the Medicare advantage plan out here in Southern California. So

772
00:43:57.360 --> 00:43:59.960
it's just that premium that you would be responsible for.

773
00:44:00.719 --> 00:44:03.719
And remember, if you're married and you're both running sixty five,

774
00:44:03.840 --> 00:44:07.360
you each pay that premium. It's not just one premium

775
00:44:07.400 --> 00:44:12.519
for the couple, So also keep that in mind. All right,

776
00:44:13.760 --> 00:44:17.719
while we are starting to close down our show again,

777
00:44:17.920 --> 00:44:21.119
I hope you found a lot of information on our

778
00:44:21.159 --> 00:44:24.440
show helpful. I'd like to give a shout out to

779
00:44:24.960 --> 00:44:27.519
a lot of our sponsors. We've got quite a few.

780
00:44:29.119 --> 00:44:32.079
Lisa Reberg is one of our sponsors. Now we also

781
00:44:32.199 --> 00:44:38.599
have Everything Senior Insurance. They are a marketing organization that

782
00:44:38.719 --> 00:44:42.840
helps agents get the Medicare contracts and get the resources

783
00:44:43.000 --> 00:44:46.440
to build their businesses. Lead Heroes is a lead source

784
00:44:46.519 --> 00:44:52.760
company that's another sponsor of ours. John Alina Aladna sorry

785
00:44:52.840 --> 00:44:56.400
realtor out here in Southern California, is another sponsor. So

786
00:44:56.480 --> 00:44:59.440
we cann't do these shows without our sponsors. We thank

787
00:44:59.480 --> 00:45:02.559
them so much much for their support. You can find

788
00:45:02.599 --> 00:45:07.039
them on our past episodes. Again, we are on Apple Podcasts.

789
00:45:07.119 --> 00:45:12.519
We are also at YouTube live at Medicare Minute with

790
00:45:12.559 --> 00:45:18.280
Peter and We're on Facebook Live Joseph Insurance Broker LLC,

791
00:45:20.119 --> 00:45:22.880
So we thank Lisa so much for shedding light on

792
00:45:22.920 --> 00:45:26.000
our financial option many people probably have not even ever

793
00:45:26.159 --> 00:45:30.639
considered in their lifetime. And to our listeners, sometimes the

794
00:45:30.679 --> 00:45:33.440
policies and plans you already own may hold more value

795
00:45:33.440 --> 00:45:36.599
and the opportunity than you really than you realize. So

796
00:45:36.840 --> 00:45:39.840
at Joseph Insurance Broker LC, we're proud to connect with

797
00:45:39.920 --> 00:45:44.639
professionals and small businesses that help educate and empower our communities.

798
00:45:45.039 --> 00:45:48.199
This is Medicare Hour and More with Peter. We will

799
00:45:48.199 --> 00:45:50.920
see you next time. Remember I'm on that RV trip

800
00:45:50.920 --> 00:45:55.320
for three weeks so but we will have recorded shows

801
00:45:55.320 --> 00:45:58.800
for you guys with new content. Excited to push that

802
00:45:58.880 --> 00:46:01.960
out for the next three weeks. But keep us in

803
00:46:02.000 --> 00:46:05.199
your thoughts for safe travels and we're glad that you've

804
00:46:05.280 --> 00:46:08.159
joined us this morning because we medicare.

805
00:46:09.559 --> 00:46:13.440
Thanks for listening. Tune into Medicare Hour and More with

806
00:46:13.559 --> 00:46:17.559
Peter every Tuesday at nine am Pacific time right here

807
00:46:17.599 --> 00:46:22.719
on KFOURHD Radio at kfohd dot com for more real

808
00:46:22.800 --> 00:46:27.559
life stories from experts who medicare about you and protecting

809
00:46:27.639 --> 00:46:32.159
your health, your finances, and your future. See you next week.