Blog by Neda

Health Insurance 2017

Jan 28, 17

With this weeks weather being cold and raining make sure your take extra vitamins (Vitamin C, Zinc, Echinacea, etc.) to ensure you don't get a cold or the flu. If you get the flu, is going the doctor costing you a arm and a leg? If so we have until the 31st to take a look at some new copay options for you and your family. Some plans starting as low as $5 Primary Care Doctors visits, $15 Specialist Visits. Give me a call 949-428-3321 to make sure you have a affordable plan ready to go for March 1st effective date.

Open Enrollment Period

Oct 27, 16

The yearly period when people can enroll in a health insurance plan. 2016 Open Enrollment ended January 31, 2016. Open Enrollment for 2017 runs from November 1, 2016 to January 31, 2017.

Outside the Open Enrollment Period, you generally can enroll in a health insurance plan only if you qualify for a Special Enrollment Period. You’re eligible if you have certain life events, like getting married, having a baby, or losing other health coverage.

  • Job-based plans may have different Open Enrollment Periods. Check with your employer.
  • You can apply and enroll in Medicaid or the Children's Health Insurance Program (CHIP) any time of year.

This post is from Suze Orman:

Aug 18, 16

 

Do you know what the liability coverage is on your auto policy? Do you have an umbrella to cover excess liability if need be? Financial wipeout is a bummer place to be at any age - it can be avoided though. 
This morning I read a story about a woman who hit a bicyclist in an auto accident June 27, 2013. The bicyclist was badly injured. Today the woman is closing out bank savings, her 401k and IRA - she has to give the money from these accounts to the bicyclist. After today, she will have zero saved for retirement and nothing in savings....she starts over at 46 years old. She is short about $255,000 (auto policy paid $100,000 and she had $280,000 in savings and retirement accounts), but settlement is $635,000.
The woman’s auto policy with $100,000/$300,000 liability paid the max of $100,000 (this is the per person limit). But the medical bills, loss of wages (past/future), permanent injury to knee and such resulted in a $635,000 award to bicyclist.
Today she is setting up court ordered wage garnishment with her employer. She is embarrassed to go to her HR department for this, but has to. She will have large monthly payments taken from paycheck until the remaining debt is paid. If she gets a bonus, gets an inheritance, wins at gambling or whatever, these get taken. Only when the debt of $255,000 is paid will she have extra money. Filing bankruptcy isn't an option, it isn't allowed when a personal injury judgement is involved - this is a debt that can't be dismissed in bankruptcy.
So why am I posting this story on Facebook? You need to take a look at your auto policy today. What are the limits? If they are $100,000/$300,000 or less, call your agent and ask for an increase to the max they offer. Then buy a $1M umbrella - it won't be more than $150 or $200 depending on how many drivers and cars you have.
I know it seems tempting to choose a lower deductible. But lower deductibles can actually end up costing you plenty. The old saying of PAY NOW or PAY LATER applies to your auto insurance. Better to spend a little more each year in premium - maybe a few hundred dollars - than to spend a lot more later - like hundreds of thousands - out of your own pocket by emptying your savings, retirement, investments and any equity you might have in a home.

Kentucky probes Humana letter on insurance renewals

Sep 09, 15

Insurance News -- LOUISVILLE, Ky. -- The letter Ray Brundige received from Humana spelled out two options - keep his health insurance policy for one more year for a $279 monthly premium or choose a new one that complies with the Affordable Care Act and pay a whopping ...

Long term care insurance premiums on the rise

Sep 09, 15

Health Insurance News -- Sharp increases in rate requests for long-term care insurance are raising the chances that the next wave of retirees may not be able to afford coverage for assisted living, nursing homes, and related health services. Since early 2012, the Massachusetts Division of Insurance ...

Taxpayers Turn U.S. Farmers Into Fat Cats With Subsidies

Sep 09, 15

Insurance Headline News -- Depression-era program intended to save the nation's farmers from ruin has grown into a 21st-century crutch enabling affluent growers and financial institutions to thrive at U.S. taxpayer expense. Federal crop insurance encourages farmers to gamble on risky plantings in a program that has ....

For millions, insurance will cost less than $100/month

Sep 09, 15

A report obtained by USA TODAY says the lower premiums primarily apply to "silver" plans. WASHINGTON -- Insurance News -- About 6.4 million Americans eligible to buy insurance through the new health exchanges will pay $100 or less a month in premiums because of tax subsidies, according ...

For-Profit Online Insurance Brokers Gear Up To Sell Obamacare

Sep 09, 15

Insurance Headlines -- When the Affordable Care Act was working its way through Congress, Gary Lauer was nervous. Part of the bill sounded grim. It said people could buy required health coverage online, but only through websites run by state and federal governments. "That was going to ...