Dave Silver Insurance

Divorced spouses are able to collect Social Security benefits on one another.  The main criteria is that you were married for at least 10 years, continuously.   If you are divorced for less than 2 years, your ex- spouse (the one you will be collecting on) will need to be collecting Social security benefits in order for you to receive your benefits. However, if you were married for 10 continuous years and you have been  divorced for more than 2 years, your ex does not need to be receiving benefits AS LONG AS THEY ARE LEAST AGE 62,  in order for you to collect Social Security benefits.  If you are divorced for more than 2 years you will be deemed an “Independently Entitled Divorced Spouse”. If you and your ex-spouse were born before 01/01/1954, there are Social Security strategies that you can implement that will allow your Social Security to grow to age 70 and allow you to earn delayed retirement credits (DRC).  If you were born after 01/01/1954, this...

Children are entitled to Social Security benefits up to age 18 or up to age 19 if they are still in high school. They receive benefits based on the work record of the parent who is collecting Social Security retirement or disability benefits.  If the parent is alive they can receive 50 percent of the parent’s primary insurance amount (PIA) or if the parent is deceased they can collect 75 percent of the parent’s primary insurance amount. If you are a parent taking care of a child under age 18, the parent can collect Social Security benefits, irregardless of their age. The amount paid will be based on the earning record of their spouse.  This benefit will stop once the child reaches age 16. This is referred to as the “Child In Care Benefit”. The amount that the family receives is applicable to the “Family Maximum” guidelines set by the Social Security Administration. For help understanding your social security , contact an representative in our office.

Overview of Medicare Advantage Plans When shopping for Medicare Advantage Plans, the options are as varied as they are confusing. Beyond your basic Medicare needs, there are many optional plans available depending on your situation and budget. Some plans require more out of pocket expenses resulting in lower monthly premiums whereas other plans are more expensive but allow for more controlled costs for services. With all of the different coverage options, premiums, and expenses, there is no “one plan fits all” that we recommend for everyone. But the advantage of having so many Medicare Advantage Plan options is that we’re able to find a plan that suits every need and budget. These plans are approved by Medicare and are offered by private insurance companies. When purchasing a Medicare Advantage Plan, the plan will provide Medicare Parts A (hospital insurance) and B (medical insurance) and most include Part D (prescription drug coverage) .  In addition, within the different plan...

Medicare Supplement Plan Rates 2020 In addition to the confusion surrounding Medicare and the different Plans available, many people wonder how much Medicare and Medicare Supplement Plans cost each month. And the answer to that question can vary widely depending on which Plan you purchase and the income reported in your last filed tax return. An overview of several different options is below: Medicare Part A If you are enrolled in Medicare, then you’re automatically enrolled in Medicare Part A. And the good news is that for most there isn’t a monthly premium associated with Medicare Part A. And although Part A pays for inpatient care, nursing home stays, and hospice or in-home health care it does have an annual deductible set at $1,408 for 2020. In addition, if a hospital stay lasts longer than 60 days, Part A will require you to cover some of the daily costs. And the daily costs increase if the hospital stay lasts longer than 90 days with no out of pocket maximum. As a result of ...

Dental Coverage for Seniors on Medicare The question of whether Medicare provides dental coverage is a common one. And at a very high level, the answer is simply No. Medicare doesn’t cover dental services that you need primarily for the health of your teeth. Dental services that aren’t covered under basic Medicare include dentures, filings, cleanings, tooth extractions, and routine checkups. But that isn’t to say that certain Medicare Plans won’t cover or help to defer the costs of these services. To better understand dental care options, we first have to understand the different Medicare Plans that are available. Medicare Plan A Medicare Plan A, also known as Original Medicare, covers basic hospital expenses. In general, it pays for inpatient care, nursing home stays, and hospice or in-home health care. It doesn’t, however, pay for hearing aids, mobility devices, or basic dental needs. But some dental services will be covered under Part A if they’re associated with other medical ...

What Is Medicare Part G? Many people feel that standard Medicare policies don’t afford enough coverage to meet their insurance needs. As a result, people turn to Florida Medicare Supplement Plans, also known as Medigap Plans. There are 10 different Plans available and they are eligible to everyone enrolled in Medicare Part A and B. They are standardized by the state which makes it easy to compare the benefits and prices for each. So one of the most common questions we receive is which Medigap Plan is the best. The answer to that depends on your coverage needs and your available budget. But one of the most popular is Plan G . Florida Medicare Plan G Medicare Plan G is popular because it covers almost all of the gaps. Some people consider it the Cadillac of all Medigap Plans. As in all other Plans, you must pay the Part B deductible ($198 in 2020). But beyond that, Plan G pays first dollar coverage which means that Medicare will pay its share and then your Medicare supplement carrie...