Information on Medicare for individuals.

Hard Market FAQ

After decades of low premiums and abundant capacity - their willingness to accept new or increased risk –  the insurance market is experiencing a hard market. This is when premiums increase, coverage terms are restricted, and competition for most types of insurance decreases; in other words, insurance is getting more expensive and harder to find. A hard market can lead to a ton of questions. Let’s look at a few and go over the answers. What is a “hard market” in insurance? A hard market means insurance companies are raising rates and restricting [...]

2024-02-06T16:43:12+00:00February 6th, 2024|

Hard Market 101

You’ve already heard about how inflation is affecting everything, including insurance premiums and claims. Rates are rising and insurance is becoming harder to get. This situation is what we in the insurance industry refer to as a “hard market.” What causes a hard market? Hard markets are caused by many factors, these can include increased underwriting loss – a loss made by an insurance company in a particular period- , increases in natural disaster claims, increased litigation costs, and increased economic challenges. All of these factors make it more expensive for insurance companies [...]

2024-02-06T16:37:43+00:00February 6th, 2024|

Golden Milestone: Celebrating 50 Years of Excellence

In the world of insurance, where trust and reliability are critical, reaching the 50-year mark is worth a celebration. Gannon Associates Insurance is proud to be celebrating their golden anniversary this year. Established in 1973 by Max Gannon, Gannon Associates Insurance has been a source of support and security for countless individuals and businesses across our area and beyond. As they commemorate half a century of unwavering dedication to their clients and commitment to insurance excellence, it is the perfect time to reflect on the journey that led to this remarkable achievement.   [...]

2023-12-22T17:43:41+00:00December 22nd, 2023|

Let’s Review The Important Stuff!

Let’s Review The Important Stuff! Medicare’s 2020 Annual Enrollment Period (AEP) begins October 15, 2019, and ends on December 7, 2019. AEP applies ONLY to Medicare Advantage Plans and Medicare Prescription Drug Plans. This is the one time of year you can change your Medicare Advantage Plan and Prescription Drug Plan without a Special Enrollment Period. AEP does NOT apply to Medicare Supplements. If you have a Medicare Supplement, you need not worry. Your coverage continues provided you like the plan and pay the premiums! The 2020 Annual Notice of Change (ANOC) should [...]

2021-07-27T17:51:30+00:00October 14th, 2019|

Medicare 101 With Rachelle

Original Medicare, Part A, and Part B is a government health insurance program for those who qualify by age or disability. Part A is hospital insurance and Part B is medical insurance. There are some out-of-pocket costs associated with Original Medicare, such as deductibles, coinsurance, and copayments. To help with those costs, there are two commonly used options used to supplement or replace Original Medicare and both are offered by private insurance companies. These plans have significant differences with regard to costs, benefits, and how they work. It is very important to [...]

2021-07-28T15:47:46+00:00October 22nd, 2018|
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