It’s open enrollment: time to select your health insurance plan for the coming year. If you were thinking about skipping it this time around, get ready to pay regardless. Fines for not having coverage are increasing. For 2016, they will be $695 for each adult and $347.50 for each child, up to $2,085 for a...
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Your Guide to Long-Term Care Insurance
Long-term care is quite different than traditional medical care. It is a skilled care/personal care service that people may need if they are unable to take care of themselves due to disability, illness or cognitive impairment such as Alzheimer’s disease. Traditional medical care is aimed at trying to treat or cure illnesses. On the other...
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Understanding Medigap: The Supplemental Insurance
Medigap insurance is sold by private firms and helps individuals pay for any costs that their Medicare does not cover, such as deductibles and copayments. This type of supplemental insurance is only available to those people who already have both Parts A and B of Original Medicare. If you settled for a Medicare Advantage health...
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Top 7 Myths of Life Insurance
Life insurance can be confusing, particularly with so many options to choose from. Understanding the top seven myths about life insurance can help you make a sound decision. Life insurance is by no means a simple product. Even the relatively basic term life policies have numerous provisions and features that you should carefully consider to...
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When Social Security Won’t Help
Relying on Social Security Disability Insurance (SSDI) to cover you if you become disabled could mean financial ruin. Here’s why. You must meet all the following criteria to receive SSDI benefits: You earn more than $1,090 a month. Your condition must be so severe that it interferes with your work. Your disability must be included...
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See Everything – Considerations When Purchasing Vision Insurance
Vision insurance may seem expensive at first glance. However, doctors advise eye exams at least once every year. Secondly, you might need glasses — prescription and sunglasses — every year, and maybe contact lenses. Vision insurance covers all these items and services. Points to Consider If you are thinking of purchasing vision insurance, then there...
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Implants and Bridges — and How Dental Insurance Can Help
Dental implants and bridges both replace missing teeth. These devices will likely become more common as the baby boomers age. What are they, and will your insurance cover them? Dental Restoration Bridges A bridge is a dental restoration that “bridges” the gap left behind by missing teeth. Fixed bridges are those that have been cemented...
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Insurance Coverage Gap: Surprising Statistics
The majority of Americans do not have enough life insurance. Many Americans don’t have any at all. Why is this? Research reveals that the most common reason Americans lack adequate life insurance is that they often have contending financial priorities. The second most reason is that they assume they cannot afford it. Let’s look at...
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Demand for Fixed Indexed Annuities on the Rise
The fixed index annuity market is going strong. Sales increased 24 percent in the last year, reveals a study conducted by the Insured Retirement Institute (IRI). Out of the total broker-dealer annuity sales last year, 10 percent were of FIAs. Like all annuities, the fixed index annuity (FIA) guarantees a predictable income either for life...
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Insuring Your College Student
An estimated three million students have health insurance through student health plans offered by colleges, universities or other institutions of higher education. Plans vary widely in coverage and quality. If you have a student heading off to college, make sure he or she has the right coverage. In 2012, the Department of Health and Human...
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