On January 1, 2014, the most far-reaching provisions of the Affordable Care Act go into effect. Insurers will be required to accept all applications. This means that no longer can an individual be declined or “rated-up” for pre-existing health conditions in the personal health plans market.
Open enrollment for the exchanges (new health insurance marketplace) begins on October 1, 2013. However, we are still aiming at a moving target. Nobody knows exactly what the plans will look like.
In my last post I explained the basic differences between long-term care (LTC) insurance and disability insurance. For most people, LTC is associated with elderly people in nursing home care. We tend to think of adult children helping their elderly disabled parents find appropriate care. These are typical scenarios since many elderly people need a high level of care that is difficult for family members to provide. *[In case you are wondering if these policies really pay claims,
I find that many people do not understand the key differences between disability insurance and long-term care (LTC) insurance. The most common misconception is that long-term care insurance is strictly for seniors and disability insurance is for everyone else. While there is some truth to that generalization, there are plenty of exceptions — where one product is a better solution than the other irrespective of age. Approximately 40% of those receiving long-term care are between the ages of 18-65 —
The most popular Medicare Supplement (Medigap) plan in Georgia — and nationally — is Plan F. So, why is it the preferred choice of so many? Well, it is the most comprehensive plan offered by Medigap carriers. There are several standardized plan options, ranging from plan A to N, and insurance carriers will only offer some of the plans available. However, almost all carriers offer Plan F. Basically, Plan F pays whenever Medicare Parts A and B have gaps in coverage.
Making the Right Decision about Medicare Plans
I recently spoke with my friend’s dad who is 72 years-old and recently purchased a Medicare Supplement (Medigap) plan and Part D (prescription drug) plan. We’ll call my friend’s dad “Roger”. So, Roger had been on a retiree group medical plan for several years and was told last year that he had to purchase a Medicare plan through his company’s preferred agency.
I read a powerful article that someone recently wrote. You can read it HERE. This is a story of a young family whose lives were affected by cancer. This article was written by a widow and she describes how they tried to get her husband life insurance coverage after he was diagnosed with cancer. They tried multiple times and were finally able to get coverage nine years after the cancer diagnosis. Then, not long after he got life insurance coverage,
When my clients save a lot of money, I am happy!
Recently, a client, who is in excellent health, applied for a 15-year term life insurance policy. He had some past medical issues that were a potential obstacle, so I checked with several carriers to find out which ones would offer him the best underwriting classification. We decided on a very strong A+ rated carrier that offered him their best rate contingent upon a review of his medical records,
Well, Valentine’s Day is fast approaching, so I thought I’d tie in this post to the theme of love! No, I’m not going to suggest that you purchase a life insurance policy as a Valentine’s gift! However, this is a good opportunity to think about WHO matters most in your life and how much you care for them! Perhaps you will think about how much coverage you currently have, because life insurance is really about protecting the ones you love.
When I started in the insurance business 13 years ago, I heard a few experienced agents mention Clark Howard and why I should learn to overcome the “Clark Howard objection”. In case you’re not aware of this, Clark Howard is a consumer advocate who has a very popular radio show. He is well known in Atlanta and his popularity has grown considerably over the years — in Georgia and all across the nation.
The company I worked for taught new agents to promote variable universal life insurance (permanent insurance) as a way to solve all our clients’
Do you know how much you pay for your health insurance? Almost all of my clients know very well the cost of their health insurance, however, people who work for large companies are usually unaware of the total cost of insurance. They know how much comes out of their paycheck each pay period, but that’s about it.
This year — as a result of the Affordable Care Act — employers with 250 or more employees are required to disclose the total cost of health insurance on W2s,
