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The Need for Income Protection – from A to Z

5/22/2015

DID YOU KNOW?
Most disabilities are NOT caused by accidents. Approximately 95% are caused by illnesses.

Reasons To Protect your Income

Many people assume a disability won’t happen to them, but you may be surprised by the variety of conditions that can leave you unable to work. Here are just 26 of the conditions Principal Life has seen disability claims for over the years. From A to Z, these are a few good reasons to protect your income.

Asthma
Breast cancer
Carpal Tunnel
Depression
Episodic mood disorder
Fibromyalgia
Gastroenteritis
Herniated disc
Irritable bowel syndrome

Joint pain
Kidney failure
Lower back pain
Multiple sclerosis
Nerve injury
Osteoarthritis
Pregnancy complications
Quadriplegia
Retinal disorder

Stroke
Tremors
Ulcerative colitis
Vision impairment
West Nile virus
AnXiety
Yellow fever
AlZheimer’s disease

If you have an existing health condition, in many cases, you can still qualify for coverage with a policy modification. That means your policy might not cover that specific health condition, but it still protects your income from the many other illnesses and injuries that could put your paycheck at risk.

Talk to Jeanine about your specific situation and she will find a policy that is right for you.

Jeanine Kinzie is a Licensed Health Insurance Agent, Licensed Life Insurance Agent and a Federally Facilitated Marketplace Enroller / SHOP Marketplace Enroller from Grand Rapids, Michigan. Jeanine is licensed in MI, TX, IN, IL, WI, AZ, VA, AL, VA, & OH.

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Tax Subsidies - Find out if you may qualify in 2015.

11/21/2014

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If you are curious if you may be eligible for a subsidy, please see the below chart as a starting point. Several other factors may affect your eligibility for a subsidy so if your income falls in these ranges, and you would like to see what a plan would cost you, please contact us.

MIchigan and Indiana income qualifier for tax subsidies health insurance

Amounts are based on what your Modified Adjusted Gross Income will be for 2015.
Contact me today! 888-883-5290 | email

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Open Enrollment - How to determine if you need to take action before December 15th.

11/20/2014

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During this season of open enrollment we've created a few tips to help you determine if you need to take action before December 15th.

1. If you are on a plan thru Healthcare.gov and received a renewal with an increase, please don't panic. The increase does not include the adjustment for the subsidy you may be entitled to. We need to update your application information and adjust your income slightly for it to be applied to the renewal rate. We can help you with that now or you may call Healthcare.gov to report it in January.

2. If you are on a plan thru Healthcare.gov and received a renewal and pay thru a bank draft, your bank draft will be stopped and needs to be set up again after January. This means you have to pay January's premium by check or phone in order to continue your coverage. The carriers didn't want to overdraft your bank account with the new premium, so they are billing you instead. The bill will include instructions of how to set up the bank draft once again.

3. If you change plans, either on or off the Marketplace, you must cancel your current plan. This will not happen automatically. The carriers may discontinue your plan, but they will replace it with a new plan and the new plan would need to be canceled if you choose something else.

4. If your network wasn't suitable to your needs, please let us know where you'd like to go so we can ensure your new plan includes your favorite providers.

5. If your job or income has changed, we'll need to know what you expect it to be in 2015.

6. If you wish to apply yourself, we'd appreciate it if you would put down Jeanine Kinzie as the agent with the NPN 8049289 and FFM ID# JKINZIE49316@616 so we can be assigned as your agent. The rates are the same whether you use an agent or not, so why not have a personal contact to answer your questions throughout the year?

Have a wonderful Thanksgiving time next week with family and friends!

Contact me today! 888-883-5290 | email

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2015 Plan Changes by Carrier

11/19/2014

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If you're not eligible to keep your current plan, read on...

Assurant
Now available both on & off the Marketplace, it features the Aetna Signature PPO Network, which is the largest network nationwide. Pricing is higher, but if you seek medical care in 2 different states, and want to keep your doctors, this is a great plan for you.

Blue Cross Blue Shield and Blue Care Network
Added "Extra" plans which offer first dollar office visit and generic prescription drug copays. Blue Cross also added a Platinum plan. Blue Care Network was disappointing for some as the lowest price plan but it came with severe network limitations. Blue Cross enrolled 77% of the plans on the marketplace last fall. Service issues were common due to high volume of business.

Humana
Their HSA with a $7,300 maximum out of pocket was popular last year. New plans are available for Kent County residents utilizing Metro Health System on & off the Marketplace. Metro Detroit has additional network options which affect rates but offer more choices.

Priority Health
#1 in customer service, this Michigan based carrier does a fine job. They actually lowered their rates this year. Many are moving their coverage to Priority Health now. They own their own network and borrow PHCS network for out of state coverage. Choose their PPO if you travel outside of Michigan.

United HealthOne
The Platinum plan was a popular plan this year off the Marketplace. Their new network was somewhat limiting and was expanded this year. UHC joined the Marketplace in Metro Detroit.

Anthem Indiana/Ohio
The sent fairly high rate increases so we anticipate competition to enter soon.

We're available for personal consultations. This time of year we're on the phone a lot so please leave a message if you don't reach us right away. We're first working on those who had their plans canceled then will begin the renewals.

If you have a marketplace plan and want to make a change for 2015, it must be done prior to December 15th.

Thanks for your patience and understanding our priorities as we're sure you'd want to be taken care of first if your plan was canceled!

Contact me today! 888-883-5290 | email

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New Cost Effective Solution For Medical Care

11/18/2014

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Healthiest You is the most convenient way to seek medical care.

We're always looking for services to make your life easier and this product is winning for the most practical, cost effective solution to medical care. Without a Doctor visit copay, many avoid using medical services as often as they would. This service offers a $0 copay for a phone consultation with a Doctor! They can even call in a prescription to your local pharmacy after checking to see which one has the best price for it. Born out of necessity, Healthiest You is the most convenient way to seek medical care. Available for both individuals, families and groups.

Check it out and enroll thru THIS LINK.

Groups can enroll HERE.

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10 Facts To Learn About Long Term Care

11/14/2014

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1. You might have a few years ahead of you. Those who reach age 65 have an average life expectancy of an additional 19.2 years (20.4 years for females and 17.8 years for males). (Source: Administration on Aging)

2. In fact you may live to be a centenarian! About one out of every four 65-year-olds will live past age 90, and one out of 10 will live past age 95. (Source: Social Security Administration)

3. Boomers will really BOOM. As baby boomers get older, the percentage of people 85 or older in the U.S. increases from 14% in 2010to more than 21 percent in 2050. (Source: US Census.gov THE NEXT FOUR DECADES The Older Population in the United States: 2010 to 2050)

4. The elderly will dominate. The population of people 65 years or older will increase from 43.1 million in 2012 to almost 56 million in 2020. (Source: United States Census Bureau)

5. There will be a shortage of family caregivers. The number of potential family caregivers that will be available for baby boomers age 80+ drops from over 7 in 2010 to 4 in 2030 and 3 in 2050, dramatically decreasing the potential for the availability of family caregivers over the next decades. (Source: AARP The Aging of the Baby Boom and the Growing Care Gap: A Look at Future Declines in the Availability of Family Caregivers)

6. Most will need assistance. On average, 70% of people turning 65 years old will need some type of long-term care services and supports in their remaining years. (Source: LongTermCare.com How Much Care Will You Need?)

7. Alzheimer's is on the rise. By 2025, the number of people age 65 and older with Alzheimer's disease is estimated to reach 7.1 million - a 40% increase from the 5 million over age 65 who are currently affected. (Source: Alz.org Alzheimer's Facts and Figures)

8. Many require long-term care assistance to complete activities of daily living. Worldwide, 13% of people over the age of 60 require long-term care. (Source: World Alzheimer Report 2013)

9. The cost of care is growing exponentially. For a 55-year-old Illinois woman, the median monthly cost of a private room in a nursing home is $5,870 in 2013. However, in 25 years, when she is 80 and actually needs care, that same room will cost $19,878 per month. (Source: Genworth Cost of Care Calculator)

10. Premiums are lower and payouts are higher when you buy long-term care insurance (LTCI) at a younger age. While buying young obviously costs less per month in the short term, it also make sense over time. For example, if you buy LTCI when you're 55, you could pay roughly $75,000 in premiums and receive more than $800,000 in benefits. Conversely, if you buy at age 75, you would pay nearly $100,000 in premiums over a 10-year period and receive just $310,000 in benefits! (Source: Marketwatch.com)

Contact me today! 888-883-5290 | email

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The $99 Legacy

11/12/2014

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Parents and grandparents have the opportunity to leave a legacy to their children or grandchildren by providing one of the greatest gifts – life insurance.

A policy can cost as little as $99 a month. And by purchasing a policy while children and grandchildren are young and in good health, parents and grandparents can help protect a lifetime of dreams at a minimal cost, while locking in insurability.

Contact me today! 888-883-5290 | email

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U.S. Treasury Encouraging Retirement Savers To Buy Annuities

11/3/2014

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October 24, 2014 • Reuters

The U.S. Treasury Department said on Friday it was tweaking its policy for retirement funds to encourage savers to buy annuities, a measure aimed to keep them from outliving their savings.

The department and the Internal Revenue Service will let retirement funds offer long-term deferred annuities as a default investment in 401(k) retirement accounts. The guidance builds on the tax break the Treasury announced in July for retirement savers who want to buy the annuities.

For people saving for retirement, purchasing an annuity is a tool for locking in a steady outcome in case they live longer than they plan.

"By encouraging the use of income annuities, today's guidance can help retirees protect themselves from outliving their savings," J. Mark Iwry, Treasury deputy assistant secretary for retirement and health policy, said in a statement.

Jeanine's Response:

It's wonderful to see the U.S. government recommending safe investment choices. I wonder what took so long when annuities have been around since the Ancient Egyptians started them. With interest rates at long term lows, consumers have been forced into the stock market to achieve better returns on their money. Now facing retirement, many want to jump off the roller coaster of Wall Street and capture their gain. Stocks are intriguing but not so much now that they don't want risk, many are still scarred from 2008.

An annuity is the ONLY financial product to guarantee you won't outlive your money. No other financial product offers this guarantee and is safe for your money. You don't have to worry about the stock market returns, which is one of my clients' favorite aspects of it. By the time clients buy annuities, they have typically been involved in the stock market and rode the wave up, down, and sideways. Retirement requires safe money investments, but they still want the growth. Fixed Indexed Annuities are a welcome solution for many. Guaranteed growth and a floor against investment losses combined with a future income stream is an attraction to anyone seeking peace of mind. If you've never considered an annuity for one of your retirement investments, I encourage you to ask me for more educational materials to see if this insurance product is right for your situation.

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Is Ebola covered by my health insurance?

10/17/2014

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The answer depends on when your policy was written. If your policy is PPACA compliant, meaning it was written for an effective date 1/1/14 or later, it will contain coverage for "Clinical Trials", as one of the Essential Heath Benefits. Clinical trials mean that medicine and treatments which have not yet received FDA approval but would substantially improve or extend the quality of ones health, can be covered by insurance. Naturally, it will be paid according to the terms of your policy. Ones life has to be in jeopardy for treatments to be covered. For example, treatment to grow hair is a clinical trial, but insurance probably won't cover it as it won't extend life. Hopefully you won't need clinical trials, but it is good to know they are available on the 2014 Affordable Care Act health insurance plans.

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You could be eligible for Special Enrollment if you are currently experiencing a "life event"

10/7/2014

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Special Enrollment allows your coverage to begin early if you qualify.

Do one of these Life Events apply to you?

I gained a dependent due to marriage.
I gained a dependent due to birth, adoption, or placement for adoption.
I am no longer eligible as a dependent under my prior health insurance due to reaching the maximum age, legal separation, divorce or death of policyholder.
I am no longer eligible for my prior health insurance plan due to termination of employment, reduction in number of hours of employment, loss of employer contribution toward my premiums, or I have exhausted my COBRA benefits.
I gained access to new health insurance options because of a permanent move.
I am newly ineligible for payments of the advance premium tax credit.
I am no longer residing or living in my prior health insurance plan's HMO service area.
An error occurred in my previous health plan enrollment.
I have adequately demonstrated that my previous health plan or insurer substantially violated a material provision of its contract with me.
I and/or my dependent(s) lost minimum essential coverage (Due to reasons other than non-payment of premium or rescission).
Other qualifying event (as required by applicable laws)

If none of these events have occurred, you can still get coverage sooner by getting a short term plan. No matter what your situation, contact Jeanine Kinzie for personal assistance.

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