Second Opinions Can Make A Difference

Oppenheimer Life Agency, Ltd. July 11, 2023

Amber, 70, has always been in good health throughout retirement. One of Amber’s favorite pastimes is meeting up with her girlfriends for brunch. During these outings, they often discuss what their future is going to look like. When it comes to lifetime planning, they express their views and recommendations on healthcare. Amber takes these conversations seriously, especially when it comes to deciding what healthcare coverage she should own.

When it was time for enrollment into Medicare the following year, Amber took the advice of one of her girlfriends and opted for a Medicare Advantage plan without understanding exactly what the coverage offered.

A few months later, to Amber’s surprise, she was diagnosed with cancer that required immediate care. Unfortunately, when Amber sought out the best hospital in New York City, which focused primarily on cancer treatment, the hospital did not accept her Medicare Advantage coverage. Amber was devastated, if she stayed with this hospital, the cost she would have to pay out of pocket would be well over $7,000, exceeding what she could realistically afford with all her other daily living expenses. She tried to change her current supplemental plan but was told it was not possible until the next enrollment period.

Amber was distraught and reached out to her friends for comfort and advice. One of her girlfriends suggested she seek out a second opinion on the current plan she owned. When Amber spoke with her Oppenheimer Financial Professional and expressed she wanted a second opinion, he mentioned his firm has an alliance with Professional Group Plans. Kevin is a Medicare Specialist for them and is extremely knowledgeable and well versed in all the Medicare Supplemental Advantage Programs.

That afternoon, Amber reached out to Kevin. Kevin listened closely to Amber’s concerns. During their discussion, Kevin mentioned that he would be able to get Amber out of her current coverage and into the right type of Medicare supplemental plan which would enable her to receive the best treatment, with little or no out of pocket expense.

A month later, Amber was admitted to the New York Hospital she wanted with the supplemental plan which the hospital accepted. She no longer had to worry about depleting her retirement assets since the new plan he recommended covered all of the medical costs that were not covered by Medicare alone. Amber was finally able to just focus on her health, without having to worry about her finances.

She was grateful for the introduction to Kevin at Professional Group Plans, as he gave her the confidence and assurance that her financial future would be protected.

Disclosure

The information contained herein is general in nature, has been obtained from various sources believed to be reliable and is subject to changes in the Intenal Revenue Code, as well as other areas of law.

This material is for informational purposes only and should not be construed as a solicitation of any particular insurance product or insurance carrier. Insurance is sold through Oppenheimer Life Agency, Ltd. (OLA), an indirect wholly owned subsidiary of Oppenheimer Holdings. Before purchasing a policy of insurance, please review both the insurance carrier and the insurance policy carefully before investing.

A strategic alliance exists between OLA and various outside providers whereby products and services may be utilized. Such providers may receive compensation as a result of the strategic alliance. However, the firms are completely independent of each other.

This material is not a recommendation as defined in Regulation Best Interest adopted by the Securities and Exchange Commission. It is provided to you after you have received Form CRS, Regulation Best Interest disclosure and other materials.

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