MEDICARE
SUPPLEMENT

Medicare is a federal government health care program enacted in 1965. Often referred to today as "Original Medicare," the program is primarily set up to provide medical expense coverage to persons over age 65. The Medicare program is administered by the Centers for Medicare and Medicaid Services (CMS), which is a division of the U.S. Department of Health and Human Services. The Medicare program is divided into two parts: Part A, for hospital and skilled nursing facility expenses... and Part B, for medical expenses such as doctor, outpatient facility and home health care charges. Each part has its own set of deductibles, co-payments and pre-approved charges, which normally change each year.

Does Medicare cover all costs?

Most, but not all. There are certain co-payments and deductibles you must pay. Medicare pre-assigns allowable charges for all kinds of illnesses, surgeries and procedures. When the cost of a medical procedure is more than Medicare's 'approved' charge, you have to pay the difference. This is why there are private insurance options, like Medicare Supplement Insurance, to help pay for the expenses Medicare does not cover.

If you have a Medicare Supplement policy with Silac, please click on the link below to learn more about the USA Managed Care Organization and to find a participating hospital in your area.

USA Managed Care Organization »

LIFE
INSURANCE

Life insurance is designed to protect against the financial risk associated with your death. It may also help you provide to your loved ones the financial resources and security you want for their future. Think of the common needs associated with the purchase of life insurance: mortgage and debt protection, funds to pay any final expenses (medical and/or funeral) or estate taxes, income for your spouse and family, the care of a child with 'special needs,' or perhaps the funding needed for the education of a child or grandchild. If these are concerns in your life, then a life insurance policy may be something you should consider.

CASH BENEFIT
PLANS

Cash Benefit Plans are legally recognized as limited benefit or supplemental insurance coverages. Because Cash Benefit Plans are primarily considered to be supplemental insurance, the benefits these plans pay are most always paid in addition to any other insurance, including Medicare. Most, if not all, individual and group major medical plans 'coordinate' benefits with other insurance; even long-term care policies coordinate with Medicare, meaning that if Medicare pays for covered services then the policy will not pay benefits for the same covered services.