Unless you are one of a very small percentage of Americans, the law applies to you. Here’s what you need to know. The “individual mandate” probably applies to you. Legal residents of the U.S. must maintain “minimum essential” health insurance or pay a penalty. The individual mandate applies to people of all ages, including children....
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Is Mortgage Insurance a Good Deal?
If you’ve recently taken out a mortgage, refinance loan or home equity loan, you have probably received a solicitation for a mortgage insurance. Do you need it? About 22 percent of people who take out a consumer loan, such as mortgage or credit card, buy mortgage or credit insurance. This is a form of life...
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Staying Healthy Overseas: Things to Know Before You Go
If your travel plans include a trip overseas, check this list before you check your bags! Country-specific health conditions. The U.S. Centers for Disease Control offers information on health concerns by country, including infectious diseases, recommended vaccines, malaria information (if pertinent), list of medications to bring and cautions on food and water. www.cdc.gov/travel/destinationList.aspx. Individual-specific health...
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Insurance for Gun Owners
In March 2013, Rep. Carolyn Maloney (D-NY) and eight cosponsors introduced the “Firearm Risk Protection Act” (H.R. 1369), the first nationwide bill to require gun buyers to have liability insurance. If you own a gun, do you need additional coverage? H.R. 1369 stalled in Congress. If passed, it would have imposed a fine of $10,000...
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How You Benefit From Homeowners Liability Coverage
You buy homeowners’ insurance to protect your home and your personal property. But many people don’t realize their homeowners’ policy also protects them from liability lawsuits and claims. In 2010, the average paid liability claim against a homeowner cost $18,351, according to an ISO study of homeowners multiperil policies. Some claims, however, cost much more....
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Car Insurance Policy Basics
People buy auto insurance for two important reasons: to protect their car and to protect their finances. All 50 states and the District of Columbia require automobile owners to meet certain financial responsibility requirements. These requirements help ensure that funds will be available to reimburse victims of auto accidents if another driver damages their car...
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Do You Need Workers Compensation for Household Contractors?
Every day, an estimated 2.5 million individuals—mostly women—work in others’ homes, cleaning, cooking and caring for children and the elderly. Although many people treat them as independent contractors, the IRS and workers’ compensation laws may consider these domestic workers “household employees.” If they are injured while working for you, you may be liable for lost-time...
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Save Up to $1.1 Million with an HSA
Opening a health savings account (HSA) now can help you enjoy a comfortable retirement. How? A health savings account lets you contribute pre-tax dollars into an interest-bearing account. If you let funds accumulate, you can use them to pay for medical expenses during retirement, when your medical costs will likely be higher. The Employee Benefit...
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How AD&D Insurance Fills a Coverage Gap
You probably have health insurance to protect yourself from catastrophic medical expenses, life insurance to protect your family from the loss of your salary, and disability income coverage to replace income lost due to disability. So which of these policies will cover you if you lose a limb, sight or hearing in an accident? You...
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Original Medicare vs. Medicare Advantage
If you want to change your Medicare coverage for next year, you must do it during the open enrollment period. To change your Medicare coverage to a Medicare Advantage (MA) plan, or to switch between MA plans, you must act between October 15 and December 7. Your new coverage will begin in 2015. If you’re...
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