Medicare has changed the game for many people who are older than 65. This health insurance program makes it easy for older people to pay their medical bills. As beneficial as Medicare is, it does not cover every health condition. With age, many complications and issues come to the forefront. From vision to hearing to more severe problems, the health issues just keep popping up. Hearing difficulty and loss is a common problem that happens with age. So does Medicare cover hearing aids? Carry on reading to find out.
Does Medicare Pay for Hearing Aids?
No, Medicare does not cover hearing aids. But you can attain some additional benefits by enrolling in Medicare Advantage Plans or Medicare Part C. It offers some benefits that Original Medicare does not, like vision, dental, and hearing. You will need to contact the plan for further information.
Hence, people who suffer from hearing loss or some condition they require hearing care services for might have to pay the bills on their own.
Why Does Medicare Not Cover Hearing Aids?
The exclusion of hearing aids from Medicare goes way back to 1965. The program’s inception that year excluded hearing aids as they were considered “low in cost” by the government. Hence, President Lyndon B. Johnson signed the act establishing both Medicare and Medicaid as government insurance programs.
The cost of hearing aids might have been low back then, given that Medicare does not cover them. But now, they can cost thousands of dollars. Around 77% of Americans who have functional hearing loss cannot afford them. Due to these, many Medicare beneficiaries in need of hearing aid do not actually have one.
Hearing Coverage Offered by Medicare Advantage Plan
Some private insurers approved by Medicare offer Medicare Advantage Plan (Part C). This plan offers extra benefits, and most of them provide some coverage for hearing aids, although the benefits vary.
Usually, Medicare Part C limits the coverage. The enrollees receive one set of hearing aids every year. However, more than a quarter of Medicare Advantage Plans only offer coverage for one pair every two years. Moreover, some plans cover one set of hearing aids every three years.
Does Medicare Cover Hearing Tests?
Medicare does cover exams in order to diagnose hearing problems. In addition, it might cover tests to make a diagnosis of balance disorders and ringing sounds in the ear. A doctor or healthcare provider might order the tests to know if treatment is necessary; only in that case will Medicare cover hearing tests.
Medicare does not cover routine hearing tests and hearing aids. Neither does it pay for the exam needed to fit hearing aids.
Generally, Medicare Part C covers one hearing test a year. Furthermore, they might also cover the exam for a fitting hearing aid.
Original Medicare does not cover hearing aids. But Medicare Advantage Plan might pay for them, depending on the plan. In addition, hearing exams are only covered by Medicare if the doctor or a healthcare provider orders them.
Are you interested in enrolling in Medicare? Red Door Funding is what you’re looking for. Just dial to contact (832) 539-1099 us for more information.
Not having funds can be a real bummer when you want to invest in real estate. If you are in a hot situation, fix and flip hard money lending could be the perfect solution for your real estate needs.
Let’s explore why fix and flip hard money loans are a great way to fund property dealers. We’ll also explore how these loans work and ways to get started.
Why Should You Go For a Fix and Flip Hard Money Loan?
You can finance your projects in several ways.
- Use your own cash
- Take out a traditional bank loan,
- Seek out private financing.
- Fix and flip hard money loans.
Fix, and Flip Loans are popular choices among many investors; here’s why:
- Quick approval: Traditional bank loans take weeks or may even take months to get approved. With a hard money loan, you can often get approval within days. This allows quick movement and secures the property.
- Flexibility: Hard money lenders are more concerned with the property’s value than the borrower’s credit score or income. So, even if you have a low credit score or no income at all, you may still be able to qualify for a hard money loan.
- High loan-to-value ratios: Such lenders lend up to 70-80% of the property’s value. This means that you can borrow more money than you could with a traditional bank loan.
- Short-term loans: Hard money loans are short-term. They last anywhere from a few months to some years. This situation is ideal for fix and flip investors who want to quickly buy, renovate, and sell a property for a profit.
Why is hard money an attractive option for your fix-and-flip project?
These investors are always n search of fast and flexible financing options since it lets them purchase and renovate a property quickly.
Hard money loans are attractive because they provide the necessary funds to purchase and renovate a property quickly, allowing investors to move on to the next project and continue growing their portfolio.
Another advantage you can get is the leniency when it comes to credit scores and income requirements. Hard money loans help provide investors with the capital they need to make necessary renovations and repairs to a property.
Lastly, investors take advantage of opportunities that may not be available via traditional bank loans.
How Does It Work?
Finding a hard money lender: Investors find hard money lenders via online searches or networking. They should research lenders’ reputations, loan terms, and interest rates.
Applying for a loan: They must submit an application, typically including information about the property flipping and the investor’s financial situation.
Approval and funding: Once it is approved, they provide the funds, usually within some weeks. Hard money loans have a higher interest rates and fees than traditional loans; however, they are easier to get and are designed for short-term use.
Repayment: The investor will have to repay the loan within the timeframe of 6-12 months. Some lenders may allow for a longer loan term, but this likely results in higher interest rates and fees.
You can always contact Reddoor Funding for more loan information. Dial 832-539-1099 to connect with us.
Are you searching for a real estate opportunity but lacking the funds to support your goal to buy and renovate a property? If so, we are here with a solution – fix and flip loans. This might be what you have been looking for a while! Keep reading to explore what fix and flip loans are, their benefits, and how to use them to achieve your investment goals.
What Are Fix and Flip Loans?
Fix and flip loans are one the short-term loans that lenders have to offer. They provide capital for real estate investors so that they purchase and renovate a property. Its main function or goal is to aid investors in monetary terms to improve the current conditions of a property, renovate it and increase its value, and sell for a profit within a short period.
The terms and conditions are not fixed for everyone; they vary depending on the lender. However, they generally have higher interest rates and shorter repayment periods than traditional mortgages.
Benefits of Fix and Flip Loans
Fix and flip loans offer flexibility and convenience to real estate investors like you. They have a fast approval process, a high loan-to-value ratio, and custom designed to fit your specific needs.
With fix and flip loans, you can easily purchase low-in-value properties, renovate them, and sell them for a huge profit margin.
Easy and quick access to the capital
Fix and flip loans provide easy access to funds within a few days or weeks of submitting your application. This is best for those investors who want to take advantage of a time-sensitive opportunity to invest or need money to complete a renovation project quickly.
The good news is that this loan offers more flexibility than traditional ones. They are often available to people who have somewhat questionable credit and may not require as much documentation or paperwork as conventional loans.
High Potential Returns
The goal of a fix and flip loan is to renovate and sell the bought property for a profit. If it is done fast and correctly, you can earn a significant return on the investment.
Improved Property Values
Renovation increases property value and improves its appeal to potential buyers. This leads to higher offers and more profitable sales.
Using Fix and Flip Loans
3 steps of using a flip and fix loan.
Fix, and flip loans mean purchasing a property in dire need of a revamp. The loan covers all; the cost of buying and renovations amount, allowing you to start the project immediately.
Renovating a Property
Other than that, this loan can also cover the cost of renovations. This includes everything from minor cosmetic changes to major structural repairs.
Flipping a Property
Once the renovations are complete, fix and flip loans cover the cost of holding the property until it is sold. This includes mortgage payments, property taxes, and other associated expenses.
Get in touch with Reddoor Funding by dialing (832) 539-1099 to talk to our experts. We are just a call away!
Benefits with Medicare don’t end when you get Part A or Part B. Many private companies also offer Medicare Advantage, also known as Medicare Part C. This part covers both Part A and Part B, but it might also cover some additional benefits. But do you know what Medicare Part C eligibility is? Keep reading to get familiar.
What is Medicare Part C?
Before proceeding, let us give you a general overview of Medicare Part C. You can think of it as an alternative source of benefits for individuals with Medicare Part A and B. Also known as Medical Advantage Plan, it sometimes has extra benefits like dental care, vision care, hearing aids, etc.
What is the Eligibility for Medicare Part C?
Generally, you must meet two eligibility requirements to access Medicare Part C. These are:
- They must be already enrolled in Medicare parts A and B or Original Medicare.
- An insurance provider in their area must offer Medicare Advantage Plan or Medicare Part C. Plus, the plan must be available when you enroll or apply.
Other than this, you can get a Medicare Plan C if:
- Your age is 65 or older
- You’re a citizen of the US or have been a legal permanent resident for at least 5 years.
Some people under 65 might also qualify for Medicare under specific conditions. But some situations can affect your eligibility for Medical Part C. For instance, having End Stage Renal Disease (ESRD). People living with ESRD qualify for Original Medicare (Parts A and B), and the coverage might start as soon as the first month of dialysis treatment. In addition, they can enroll in a Special Needs Plan (SNP).
When to Enroll in Medicare Advantage?
The enrollment into Medicare should begin around 3 months prior to your 65th birthday. Furthermore, you can also apply in the month you will turn 65 and during the three months after the day you turn 65. Keep in mind, though, that your coverage might be delayed.
But what if you miss the initial enrollment period? Don’t worry; there is an open enrollment period that provides you with another chance to sign up for a Medicare Plan. The time span for the open enrollment period is from October 15th to December 7th each year, as of now.
After that, there also comes an open enrollment period for Medicare Advantage. Running from January 1st to March 31st, it allows you to make changes in your plan, given that you’re already enrolled in the Medicare Advantage Plan.
What Are the Types of Medicare Part C Plan?
If you’re wondering about Medicare Part C eligibility, you should be aware of the types of Medicare Advantage plans as well. These include:
- Health Maintenance Organization
- Preferred Provider Organization
- Special Needs Plans
- Private Fee-for-Service
- Medical Savings Account
What’s the Takeaway?
In short, Medicare Part C offers what Original Medicare does, but it also has some additional benefits. Although specific conditions allow you to enroll before, you must be 65 to qualify for Medicare Advantage Plan. Eligibility for Medicare Part C has a few requirements. You can contact Red Door Funding at (832) 539-1099 for Medicare and any related information.
Ambulances can be literal lifesavers when you or a loved one needs urgent transportation to the hospital. However, they can be a bit costly and weigh heavy on your wallet. Luckily, Medicare helps you out a lot with healthcare bills. But does Medicare cover ambulance services? Yes, it does, and you can read about it in this blog.
Will Medicare Cover My Ambulance Services?
Yes, Medicare Part B covers both emergency and non-emergency ambulance services if you meet the eligibility requirements. Don’t forget, though, that you’ll have to make a 20 percent coinsurance payment along with your deductible. Moreover, Medicare will determine whether the event is an emergency or not. So your Part B claims might get denied. Therefore, you need to learn what emergency ambulance service Medicare might pay for.
When Medicare Covers Emergency Ambulance Services
There are only certain cases that will meet the eligibility criteria for emergency ambulance service by Medicare Part B. In addition, it is only after the trip that Medicare decides if your case was severe enough for an ambulance. For instance, easily walking to the ambulance might rule out your Medicare coverage since it will be considered non-serious. Not only this, but Medicare will only cover the emergency ambulance service to the nearest hospital, critical access hospital, or skilled nursing facility.
The following circumstances might be eligible for emergency ambulance coverage:
- Traveling by any other vehicle can endanger your health.
- You are bleeding heavily, unconscious, and require medical treatment during transportation
When Medicare Covers Non-Emergency Ambulance Services
For non-emergency situations, Medicare Part B will cover the ambulance services in some instances only. Firstly, it will require a written order from the doctor. Thus, patients who require ambulance transportation to a facility for their chemotherapy, dialysis treatment, etc., might be able to get a written order.
Not to forget, not just anyone can get the written order. Individuals who are confined to a wheelchair or their bed might be eligible for this order. Similarly, people who need medical treatment on the way to their doctor’s appointment might also be eligible. This includes medication administration and specialized monitoring, among others.
Does Medicare Advantage Cover Ambulance Services?
Medicare Part C, also termed Medicare Advantage Plans, covers some, if not all, ambulance transportation costs. The Medicare Advantage Plan can also cover the Part B deductible and some or all of your ambulance copay. However, the covered amount is subject to the state you live in and the plan you have.
Medicare Coverage for Air Ambulance
Medicare also pays for air ambulance services in extreme situations, given that ground transportation is unavailable for assistance. An airplane or helicopter ambulance service will be provided if:
- The patient requires urgent medical care, and ground transportation is impossible due to the distance or traffic.
- Medicare covers the aircrew
- A doctor confirms that air transport is crucial.
Air ambulance can leave you with a hefty bill, especially if the ambulance is out-of-network. Furthermore, the claims can be denied too.
Medicare does cover emergency and non-emergency ambulance services in certain cases. To get a Medicare plan or for more information, dial (832) 539-1099 to consult us at Red Door Funding.
A credit score is a number that summarizes your credit history and helps lenders determine your creditworthiness. The lenders will take a look at your current number when you apply for a mortgage. This is done to assess your risk as a borrower and determine what interest rate they are willing to offer you.
The rule of thumb is the higher your credit score is, the lower the risk of default and the better the interest rate you’ll likely receive. On the other hand, if you have a lower credit score, lenders will view you as a higher risk and may offer you a higher interest rate or, in some cases, may not approve your request.
So, having a good credit score can potentially save you hundreds of dollars in the form of lower interest payments. Conversely, a low credit score can result in higher interest payments, making your mortgage more expensive.
What credit score do I need to get the best mortgage rate?
720 or higher: A credit score of 720 or higher is generally excellent and can help you secure the best mortgage rates, which means low-interest amounts.
680 to 719: A score in this range is still good and will even then allow you to qualify for a favorable mortgage rate, although not as low as those with a higher score.
640 to 679: If you lie in this range, it is considered a fair value and may impact your ability to secure the best rates, but you may still be able to qualify for a loan.
600 to 639: If your score is between 600 to 639, that is poor and may make it difficult to get a loan at a good interest rate; however, do not lose hope. You can, either way, qualify for a loan by offering to pay a higher interest rate too.
Below 600: A score below 600 is extremely poor and does create a lot of hindrances in securing a mortgage loan. In this case, the best step is to work on your credit score first and then do anything else.
It’s worth noting that credit scores are just one factor that lenders consider when evaluating mortgage applications. Other factors, such as income, employment history, and debt-to-income ratio, can also impact your ability to secure a favorable mortgage rate.
How Can You Improve Your Credit Scores?
Here’s how you can easily do it:
- Pay your bills on time: Late or missed payments can significantly negatively impact your credit score. So, pay up on time to build a good rapport.
- Reduce credit card balances: High credit card balances can lower your credit utilization ratio and can work to get it up a notch very fast.
- Dispute errors: Do make sure to check your credit reports regularly for errors or disputes if there are any discrepancies with the credit bureaus.
- Limit new credit applications: Every time you ask for a loan, it negatively impacts your credit score, so it’s best to stop putting up any new applications.
- Keep old credit accounts open: Having a long credit history can positively affect your credit score, so it’s a good idea to keep old credit accounts open, even if they are not in use.
- Make payments on time and in full: Late or missed credit payments can lower your overall credit score; therefore, keep enough savings to make payments on time and in full.
Remember, improving your credit score takes time, so it is crucial to have patience and be consistent with your efforts. Get in touch with professionals from Reddoor Funding by dialing (832) 539-1099 for more information or help.