tag:blogger.com,1999:blog-2821298843638500032024-03-13T13:58:30.660-04:00Toney's Health Insurance BlogAn Enrolled Agent with over 35 years of experience providing common-sense tax, insurance and financial solutions. Married for over 50 years, having raised two sons, both married to girls named Carla. Go figure.Mark Toneyhttp://www.blogger.com/profile/00590636274030975836noreply@blogger.comBlogger14125tag:blogger.com,1999:blog-282129884363850003.post-1479936175521361142024-03-02T11:18:00.001-05:002024-03-02T11:18:20.607-05:00Can Your Personality Influence Your Portfolio?<p><span style="background-color: white; color: #122442; font-family: Montserrat;"><a href="https://www.marktoney.com/Can-Your-Personality-Influence-Your-Portfolio-New-Research-Points-to-Yes.c10199.htm" target="_blank"><span style="font-size: medium;">New Research Points to Yes</span></a></span></p><p class="article-subheading" style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #737373; font-family: Montserrat; font-feature-settings: inherit; font-kerning: inherit; font-optical-sizing: inherit; font-stretch: inherit; font-variant-alternates: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; font-variant-position: inherit; font-variation-settings: inherit; font-weight: bold; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;">Academic researchers have been exploring how investors’ personalities might affect their financial decisions and wealth outcomes. (<a href="https://www.marktoney.com/Can-Your-Personality-Influence-Your-Portfolio-New-Research-Points-to-Yes.c10199.htm" target="_blank">continue to article</a>)</p>Mark Toneyhttp://www.blogger.com/profile/00590636274030975836noreply@blogger.com0tag:blogger.com,1999:blog-282129884363850003.post-67593095554303025232024-02-02T11:22:00.009-05:002024-02-02T11:29:03.731-05:00HDHP/HSA Pairing May Help Control Medical Costs<p> <a href="https://www.marktoney.com/HDHP-HSA-Pairing-May-Help-Control-Medical-Costs.c10145.htm" style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #34749d; cursor: pointer; font-family: inherit; font-feature-settings: inherit; font-kerning: inherit; font-optical-sizing: inherit; font-size: 16px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-variation-settings: inherit; font-weight: bold; line-height: inherit; margin: 0px; padding: 0px; text-decoration-line: none; text-rendering: optimizelegibility; vertical-align: baseline;">HDHP/HSA Pairing May Help Control Medical Costs</a></p><ul class="content_list" style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #737373; font-family: Montserrat; font-feature-settings: inherit; font-kerning: inherit; font-optical-sizing: inherit; font-stretch: inherit; font-variant-alternates: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; font-variant-position: inherit; font-variation-settings: inherit; line-height: inherit; list-style: none; margin: 0px 0px 20px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;"><li class="hdhphsapairingmayhelpcontrolmedicalcosts content_item" style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; font-family: inherit; font-feature-settings: inherit; font-kerning: inherit; font-optical-sizing: inherit; font-size: 16px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-variation-settings: inherit; font-weight: inherit; line-height: inherit; list-style-position: outside; list-style-type: none; margin: 0px 0px 10px; padding: 0px 0px 2px 10px; text-rendering: optimizelegibility; vertical-align: baseline;"><p style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; font-family: inherit; font-feature-settings: inherit; font-kerning: inherit; font-optical-sizing: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-variation-settings: inherit; font-weight: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;">High-deductible health plans offer potential savings by encouraging cost-effective choices in medical spending, as well as eligibility for a health savings account with tax advantages... <a href="https://www.marktoney.com/HDHP-HSA-Pairing-May-Help-Control-Medical-Costs.c10145.htm">(continue to article)</a><br /></p></li></ul>Mark Toneyhttp://www.blogger.com/profile/00590636274030975836noreply@blogger.com0tag:blogger.com,1999:blog-282129884363850003.post-48689604404281652122024-01-27T16:32:00.001-05:002024-01-27T16:32:11.481-05:00New Medicare Rules Tackle Prescription Drug Prices<p> <a href="https://www.marktoney.com/New-Medicare-Rules-Tackle-Prescription-Drug-Prices.c10159.htm" style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #34749d; cursor: pointer; font-family: inherit; font-feature-settings: inherit; font-kerning: inherit; font-optical-sizing: inherit; font-size: 16px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-variation-settings: inherit; font-weight: bold; line-height: inherit; margin: 0px; padding: 0px; text-decoration-line: none; text-rendering: optimizelegibility; vertical-align: baseline;">New Medicare Rules Tackle Prescription Drug Prices</a></p><ul class="content_list" style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #737373; font-family: Montserrat; font-feature-settings: inherit; font-kerning: inherit; font-optical-sizing: inherit; font-stretch: inherit; font-variant-alternates: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; font-variant-position: inherit; font-variation-settings: inherit; line-height: inherit; list-style: none; margin: 0px 0px 20px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;"><li class="newmedicarerulestackleprescriptiondrugprices content_item" style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; font-family: inherit; font-feature-settings: inherit; font-kerning: inherit; font-optical-sizing: inherit; font-size: 16px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-variation-settings: inherit; font-weight: inherit; line-height: inherit; list-style-position: outside; list-style-type: none; margin: 0px 0px 10px; padding: 0px 0px 2px 10px; text-rendering: optimizelegibility; vertical-align: baseline;"><p style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; font-family: inherit; font-feature-settings: inherit; font-kerning: inherit; font-optical-sizing: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-variation-settings: inherit; font-weight: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;">The Inflation Reduction Act of 2022 included provisions intended to lower prescription drug costs for Medicare enrollees and slow drug spending by the federal government... <a href="https://www.marktoney.com/New-Medicare-Rules-Tackle-Prescription-Drug-Prices.c10159.htm" target="_blank">(continue to article)</a></p></li></ul>Mark Toneyhttp://www.blogger.com/profile/00590636274030975836noreply@blogger.com0tag:blogger.com,1999:blog-282129884363850003.post-18751928982439086442024-01-27T15:52:00.001-05:002024-01-27T15:52:07.832-05:00Medical Debt and Your Credit Report<p> <a href="https://www.marktoney.com/Medical-Debt-and-Your-Credit-Report.c10157.htm" style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #34749d; cursor: pointer; font-family: inherit; font-feature-settings: inherit; font-kerning: inherit; font-optical-sizing: inherit; font-size: 16px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-variation-settings: inherit; font-weight: bold; line-height: inherit; margin: 0px; padding: 0px; text-decoration-line: none; text-rendering: optimizelegibility; vertical-align: baseline;">Medical Debt and Your Credit Report</a></p><ul class="content_list" style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #737373; font-family: Montserrat; font-feature-settings: inherit; font-kerning: inherit; font-optical-sizing: inherit; font-stretch: inherit; font-variant-alternates: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; font-variant-position: inherit; font-variation-settings: inherit; line-height: inherit; list-style: none; margin: 0px 0px 20px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;"><li class="medicaldebtandyourcreditreport content_item" style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; font-family: inherit; font-feature-settings: inherit; font-kerning: inherit; font-optical-sizing: inherit; font-size: 16px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-variation-settings: inherit; font-weight: inherit; line-height: inherit; list-style-position: outside; list-style-type: none; margin: 0px 0px 10px; padding: 0px 0px 2px 10px; text-rendering: optimizelegibility; vertical-align: baseline;"><p style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; font-family: inherit; font-feature-settings: inherit; font-kerning: inherit; font-optical-sizing: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-variation-settings: inherit; font-weight: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;">This article looks at changes in the way medical debt is handled on credit reports and offers tips to avoid having unpaid medical bills impact credit... <a href="https://www.marktoney.com/Medical-Debt-and-Your-Credit-Report.c10157.htm" target="_blank">(continue to article)</a></p></li></ul>Mark Toneyhttp://www.blogger.com/profile/00590636274030975836noreply@blogger.com0tag:blogger.com,1999:blog-282129884363850003.post-43954717956467820392023-10-19T13:16:00.001-04:002023-10-19T13:22:59.599-04:00Medicare and ObamaCare Open Enrollment Periods 2024<p> </p><ul><li><span style="font-size: large;">The MEDICARE Open Enrollment period starts on October 15, 2023, and continues through December 7, 2023, for coverage beginning January 1, 2024. </span></li><li><span style="font-size: large;">The OBAMACARE Open Enrollment period for 2024 health plans starts November 1, 2023, and runs through January 15, 2024, in most states. However, for coverage beginning January 1, 2024, you will need to enroll by December 15, 2023.</span></li><li><span style="font-size: medium;">States that use their own marketplaces and enrollment platforms can establish different end dates for the annual enrollment period, as long as they conclude on or after December 15, 2023.</span></li><li><span style="font-size: medium;"><p style="background-color: white; box-sizing: border-box; color: #333333; font-family: Georgia, "Times New Roman", Times, serif; font-size: 16px; line-height: 1.6; margin: 0px 0px 2em;"><strong style="box-sizing: border-box;">Other states may be subject to an extension in 2024 as well</strong>. States with state-run exchanges can issue last-minute extensions, and the federal government can issue an extension for all states using the federal marketplace as well.</p></span></li></ul><div><span style="font-size: medium;"><br /></span></div>Mark Toneyhttp://www.blogger.com/profile/00590636274030975836noreply@blogger.com0tag:blogger.com,1999:blog-282129884363850003.post-7570128604797286422023-01-01T01:01:00.001-05:002023-01-01T01:01:20.333-05:00Health Insurance Risk Management<p> </p><h2 class="RiskManagement" style="-webkit-font-smoothing: antialiased; background-color: white; border-bottom-color: rgb(0, 0, 0); border-bottom-style: solid; border-image: initial; border-left-color: initial; border-left-style: initial; border-right-color: initial; border-right-style: initial; border-top-color: initial; border-top-style: initial; border-width: 0px 0px 1px; box-sizing: border-box; color: #737373; font-family: ProximaNova; font-size: 24px; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; font-weight: inherit; line-height: 30px; margin: 0px 0px 20px; padding: 0px 0px 0.25em; text-rendering: optimizelegibility; vertical-align: baseline;">Health, Medicare, Disability, Long-Term Care</h2><ul class="content_list" style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #737373; font-family: ProximaNova; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: inherit; list-style: none; margin: 0px 0px 40px; overflow: hidden; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;"><li class="doineeddisabilityincomeinsurance content_item" style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; float: left; font-family: inherit; font-size: 16px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; list-style-position: outside; list-style-type: none; margin: 0px 0px 16px; padding: 0px 0px 2px 10px; text-rendering: optimizelegibility; vertical-align: baseline; width: auto;"><h3 style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; color: #4e646c; font-family: inherit; font-size: 13px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;"><a href="https://admin.emeraldconnect.com/preview/Do-I-Need-Disability-Income-Insurance.c50.htm" style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; color: #34749d; cursor: pointer; font-family: inherit; font-size: 16px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: bold; line-height: inherit; margin: 0px; padding: 0px; text-decoration-line: none; text-rendering: optimizelegibility; vertical-align: baseline;"><br />Do I Need Disability Income Insurance?</a></h3><p style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;">Knowing the basics of a disability income insurance policy is a good first step toward protecting your family.</p></li><li class="whattypesofhealthcoverageareavailable content_item" style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; float: left; font-family: inherit; font-size: 16px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; list-style-position: outside; list-style-type: none; margin: 0px 0px 16px; padding: 0px 0px 2px 10px; text-rendering: optimizelegibility; vertical-align: baseline; width: auto;"><h3 style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; color: #4e646c; font-family: inherit; font-size: 13px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;"><a href="https://admin.emeraldconnect.com/preview/What-Types-of-Health-Coverage-Are-Available.c51.htm" style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; color: #34749d; cursor: pointer; font-family: inherit; font-size: 16px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: bold; line-height: inherit; margin: 0px; padding: 0px; text-decoration-line: none; text-rendering: optimizelegibility; vertical-align: baseline;">What Types of Health Coverage Are Available?</a></h3><p style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;">There are three basic types of medical insurance plans: fee-for-service, managed care, and high-deductible health plan.</p></li><br /><li class="whatisthedifferencebetweenanhmoandappo content_item" style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; float: left; font-family: inherit; font-size: 16px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; list-style-position: outside; list-style-type: none; margin: 0px 0px 16px; padding: 0px 0px 2px 10px; text-rendering: optimizelegibility; vertical-align: baseline; width: auto;"><h3 style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; color: #4e646c; font-family: inherit; font-size: 13px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;"><a href="https://admin.emeraldconnect.com/preview/What-Is-the-Difference-Between-an-HMO-and-a-PPO.c53.htm" style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; color: #34749d; cursor: pointer; font-family: inherit; font-size: 16px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: bold; line-height: inherit; margin: 0px; padding: 0px; text-decoration-line: none; text-rendering: optimizelegibility; vertical-align: baseline;">What Is the Difference Between an HMO and a PPO?</a></h3><p style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;">Selecting health insurance is often one of the most important decisions you will make. Do you know the different types?</p></li><li class="howcanideterminethefinancialstrengthofmyinsurancecompany content_item" style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; float: left; font-family: inherit; font-size: 16px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; list-style-position: outside; list-style-type: none; margin: 0px 0px 16px; padding: 0px 0px 2px 10px; text-rendering: optimizelegibility; vertical-align: baseline; width: auto;"><h3 style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; color: #4e646c; font-family: inherit; font-size: 13px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;"><a href="https://admin.emeraldconnect.com/preview/How-Can-I-Determine-the-Financial-Strength-of-My-Insurance-Company.c54.htm" style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; color: #34749d; cursor: pointer; font-family: inherit; font-size: 16px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: bold; line-height: inherit; margin: 0px; padding: 0px; text-decoration-line: none; text-rendering: optimizelegibility; vertical-align: baseline;">How Can I Determine the Financial Strength of My Insurance Company?</a></h3><p style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;">Using a financially sound insurance company is an important part of ensuring your family’s financial security.</p></li><li class="amipreparedforlongtermcareexpenses content_item" style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; float: left; font-family: inherit; font-size: 16px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; list-style-position: outside; list-style-type: none; margin: 0px 0px 16px; padding: 0px 0px 2px 10px; text-rendering: optimizelegibility; vertical-align: baseline; width: auto;"><h3 style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; color: #4e646c; font-family: inherit; font-size: 13px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;"><a href="https://admin.emeraldconnect.com/preview/Am-I-Prepared-for-Long-Term-Care-Expenses.c55.htm" style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; color: #34749d; cursor: pointer; font-family: inherit; font-size: 16px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: bold; line-height: inherit; margin: 0px; padding: 0px; text-decoration-line: none; text-rendering: optimizelegibility; vertical-align: baseline;">Am I Prepared for Long-Term Care Expenses?</a></h3><p style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;">The odds of needing long-term care increase as you age. Prior planning can help protect you from financial ruin.</p></li><li class="whatdoesmedicarecover content_item" style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; float: left; font-family: inherit; font-size: 16px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; list-style-position: outside; list-style-type: none; margin: 0px 0px 16px; padding: 0px 0px 2px 10px; text-rendering: optimizelegibility; vertical-align: baseline; width: auto;"><h3 style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; color: #4e646c; font-family: inherit; font-size: 13px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;"><a href="https://admin.emeraldconnect.com/preview/What-Does-Medicare-Cover.c56.htm" style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; color: #34749d; cursor: pointer; font-family: inherit; font-size: 16px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: bold; line-height: inherit; margin: 0px; padding: 0px; text-decoration-line: none; text-rendering: optimizelegibility; vertical-align: baseline;">What Does Medicare Cover?</a></h3><p style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;">Medicare is the federal health insurance program for those persons age 65 and over. But what does it cover?</p></li><li class="howlikelyamitoneedlongtermcare content_item" style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; float: left; font-family: inherit; font-size: 16px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; list-style-position: outside; list-style-type: none; margin: 0px 0px 16px; padding: 0px 0px 2px 10px; text-rendering: optimizelegibility; vertical-align: baseline; width: auto;"><h3 style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; color: #4e646c; font-family: inherit; font-size: 13px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;"><a href="https://admin.emeraldconnect.com/preview/How-Likely-Am-I-to-Need-Long-Term-Care.c57.htm" style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; color: #34749d; cursor: pointer; font-family: inherit; font-size: 16px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: bold; line-height: inherit; margin: 0px; padding: 0px; text-decoration-line: none; text-rendering: optimizelegibility; vertical-align: baseline;">How Likely Am I to Need Long-Term Care?</a></h3><p style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;">If you were to suffer an illness or disability that required long-term nursing care, would you be covered?</p></li><br /></ul>Mark Toneyhttp://www.blogger.com/profile/00590636274030975836noreply@blogger.com0tag:blogger.com,1999:blog-282129884363850003.post-39180219550303771462022-02-15T23:55:00.007-05:002022-10-31T15:15:04.992-04:00Why Purchase Life Insurance?<p> <span style="background-color: white; color: #737373; font-family: ProximaNova; font-size: x-large; font-weight: inherit;">We’ve all heard about the importance of having life insurance, but is it really necessary? Usually, the answer is “yes,” but it depends on your specific situation. If you have a family who relies on your income, then it is imperative to have life insurance protection. If you’re single and have no major assets to protect, then you may not need coverage.</span></p><h1 style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #122442; font-family: ProximaNova; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; font-weight: inherit; line-height: inherit; margin: 0px 0px 30px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;"><span style="color: #737373;"><span style="font-size: large;"><span><a name='more'></a></span></span></span></h1><p style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #737373; font-family: ProximaNova; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;">In the event of your untimely death, your beneficiaries can use funds from a life insurance policy for funeral and burial expenses, probate, estate taxes, daycare, and any number of everyday expenses. Funds can be used to pay for your children’s education and take care of debts or a mortgage that hasn’t been paid off. Life insurance funds can also be added to your spouse’s retirement savings.</p><p style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #737373; font-family: ProximaNova; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;">If your dependents will not require the proceeds from a life insurance policy for these types of expenses, you may wish to name a favorite charity as the beneficiary of your policy.</p><p style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #737373; font-family: ProximaNova; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;">Permanent life insurance can also be used as a source of cash in the event that you need to access the funds during your lifetime. Many types of permanent life insurance build cash value that can be borrowed from or withdrawn at the policyowner’s request. Of course, withdrawals or loans that are not repaid will reduce the policy’s cash value and death benefit.</p><p style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #737373; font-family: ProximaNova; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;">There are expenses associated with life insurance. Generally, life insurance policies have contract limitations, fees, and charges, which can include mortality and expense charges, account fees, underlying investment management fees, administrative fees, and charges for optional benefits. Most policies have surrender charges that are assessed during the early years of the contract if the contract owner surrenders the policy. Any guarantees are contingent on the financial strength and claims-paying ability of the issuing insurance company. Life insurance is not guaranteed by the FDIC or any other government agency; it is not a deposit of, nor is it guaranteed or endorsed by, any bank or savings association. The cost and availability of life insurance depend on factors such as age, health, and the type and amount of insurance purchased. If you are considering the purchase of life insurance, consult a professional to explore your options.</p><p style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #737373; font-family: ProximaNova; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;"><i>Reposted from <a href="https://www.marktoney.com/Why-Purchase-Life-Insurance.c1065.htm" rel="nofollow" target="_blank">marktoney.com</a></i></p><p style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #737373; font-family: ProximaNova; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;"><span style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; font-family: inherit; font-size: 12px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;"><span style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; font: inherit; margin: 0px; padding: 0px; text-align: justify; text-rendering: optimizelegibility; vertical-align: baseline;">The information in this newsletter is not intended as tax, legal, investment, or retirement advice or recommendations, and it may not be relied on for the purpose of avoiding any federal tax penalties. </span></span><span face="Arial, Verdana, sans-serif" style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; color: #222222; font-size: 12px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; text-align: justify; text-rendering: optimizelegibility; vertical-align: baseline;">You are encouraged to seek guidance from an independent tax or legal professional. </span><span style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; font-family: inherit; font-size: 12px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;"><span style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; font: inherit; margin: 0px; padding: 0px; text-align: justify; text-rendering: optimizelegibility; vertical-align: baseline;">The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. This material was written and prepared by Broadridge Advisor Solutions. © 2022 Broadridge Financial Solutions, Inc.</span></span></p>Mark Toneyhttp://www.blogger.com/profile/00590636274030975836noreply@blogger.com2tag:blogger.com,1999:blog-282129884363850003.post-21359069214378060442022-02-06T14:22:00.002-05:002022-10-31T15:15:39.420-04:00What Is the Difference Between an HMO and a PPO?<p> <span style="background-color: white; color: #737373; font-family: ProximaNova; font-size: large; font-weight: inherit;">Selecting health insurance is often one of the most important decisions you will make. Health maintenance organizations (HMOs) and preferred provider organizations (PPOs) are types of managed healthcare plans and can cost much less than comprehensive individual policies.</span></p><p style="text-align: left;"></p><a name='more'></a><p></p><p style="text-align: left;"></p><p style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #122442; font-family: ProximaNova; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; font-weight: inherit; line-height: inherit; margin: 0px 0px 30px; padding: 0px; text-align: left; text-rendering: optimizelegibility; vertical-align: baseline;"><span style="color: #737373; font-size: medium;">Through the use of managed care, HMOs and PPOs are able to reduce the costs of hospitals and physicians. Managed care is a set of incentives and disincentives for physicians to limit what the HMOs and PPOs consider unnecessary tests and procedures. Managed care generally requires the consent of a primary-care physician before a patient can see a specialist.</span></p><p style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #737373; font-family: ProximaNova; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-align: left; text-rendering: optimizelegibility; vertical-align: baseline;"><span style="font-size: medium;">An HMO provides comprehensive healthcare services to the insured for a fixed periodic payment. There may also be a nominal fee paid for each visit to a healthcare provider. Unlike traditional insurance, HMOs actually provide the health care rather than just making payments to healthcare providers. HMOs can have a variety of relationships with hospitals and physicians. Plan physicians may be salaried employees, members of an independent multi-specialty group, part of a network of independent multi-specialty groups, or part of an individual practice association.</span></p><p style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #737373; font-family: ProximaNova; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-align: left; text-rendering: optimizelegibility; vertical-align: baseline;"><span style="font-size: medium;">Because HMOs integrate healthcare providers with insurance, they are able to provide improved healthcare delivery. This unique relationship often allows HMOs to maintain a lower cost of service from plan providers. Because the HMO is both a provider and an insurer, this allows for lower administrative costs and paperwork for the patient.</span></p><p style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #737373; font-family: ProximaNova; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-align: left; text-rendering: optimizelegibility; vertical-align: baseline;"><span style="font-size: medium;">HMOs also try to reduce costs by providing preventive care. Because visits to primary-care physicians are inexpensive for patients, the chance of early detection and care increases.</span></p><p style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #737373; font-family: ProximaNova; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-align: left; text-rendering: optimizelegibility; vertical-align: baseline;"><span style="font-size: medium;">Preferred provider organizations have also contracted with hospitals and physicians to provide healthcare services. Unlike the case with an HMO, you do not have to go to these physicians. However, you will pay more if you go outside the list of preferred providers. PPO plans usually have a deductible, which is the amount that the insured must pay before the PPO begins to pay. When the PPO plan does start to pay, it will usually pay a percentage of the bill and you have to pay the remainder, which is called “coinsurance.” Most plans have an out-of-pocket maximum. This helps protect you from paying more than a certain amount per year. After you exceed the out-of-pocket maximum, the coinsurance percentage paid by the PPO increases to 100%.</span></p><p style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #737373; font-family: ProximaNova; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-align: left; text-rendering: optimizelegibility; vertical-align: baseline;"><span style="font-size: medium;">The out-of-pocket maximum, deductible, and coinsurance will each affect the cost of the PPO insurance coverage. You can help lower your premiums by having as high a deductible as you can afford to pay.</span></p><p style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #737373; font-family: ProximaNova; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-align: left; text-rendering: optimizelegibility; vertical-align: baseline;"><span style="font-size: medium;">Reposted from <a href="https://www.marktoney.com/What-Is-the-Difference-Between-an-HMO-and-a-PPO.c53.htm" rel="nofollow" target="_blank">marktoney.com</a></span></p><p style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #737373; font-family: ProximaNova; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-align: justify; text-rendering: optimizelegibility; vertical-align: baseline;"><span style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; font-family: inherit; font-size: 12px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;">The information in this newsletter is not intended as tax, legal, investment, or retirement advice or recommendations, and it may not be relied on for the purpose of avoiding any federal tax penalties. </span><span face="Arial, Verdana, sans-serif" style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; color: #222222; font-size: 12px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;">You are encouraged to seek guidance from an independent tax or legal professional. </span><span style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; font-family: inherit; font-size: 12px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;">The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. This material was written and prepared by Broadridge Advisor Solutions. © 2022 Broadridge Financial Solutions, Inc.</span></p>Mark Toneyhttp://www.blogger.com/profile/00590636274030975836noreply@blogger.com0tag:blogger.com,1999:blog-282129884363850003.post-68025814367387845232022-02-06T00:42:00.002-05:002022-11-01T15:31:10.160-04:00Did You Know Medicaid May Pay You as a Family Caregiver?<p> <span style="background-color: white; color: #737373; font-family: ProximaNova; font-weight: bold;">Each day, millions of parents, children, siblings, and spouses selflessly sacrifice their time and energy to care for family members affected by illness, injury, or disability. Their efforts help meet numerous social, financial, nursing, and everyday personal care needs such as help with bathing, feeding, and driving to appointments. More than half (58%) of family caregivers have intensive caregiving responsibilities.</span><span class="article-super" style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; color: #737373; font-family: inherit; font-size: 11px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: 0; margin: 0px; padding: 0px; position: relative; text-rendering: optimizelegibility; top: -1em; vertical-align: baseline;">1</span></p><p style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #737373; font-family: ProximaNova; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;">If you are a regular caregiver of a loved one, you know it can exact an emotional and physical toll. It can be financially draining, too. However, in some cases, Medicaid may offer financial relief.<span></span></p><a name='more'></a><p></p><p style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #737373; font-family: ProximaNova; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;">Generally, Medicaid looks at the applicant’s financial situation (income and assets) as well as his or her functional ability. An applicant who meets state Medicaid eligibility requirements can apply for a specific program that allows the individual to self-direct his or her own care, including the selection of a qualified caregiver who may be a relative or a friend. The caregiver is compensated, directly or indirectly, by Medicaid.</p><hr style="-webkit-font-smoothing: antialiased; background-color: white; border-bottom-color: rgba(255, 255, 255, 0.3); border-bottom-style: solid; border-image: initial; border-left: 0px; border-right: 0px; border-top-color: rgba(0, 0, 0, 0.1); border-top-style: solid; box-sizing: content-box; color: #737373; font-family: ProximaNova; height: 0px; margin: 30px 0px; text-rendering: optimizelegibility;" /><p style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #737373; font-family: ProximaNova; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;"><span style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; font-family: inherit; font-size: 18px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;"><span style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;"><span style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; font-family: inherit; font-size: 24px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;">80%</span> of care at home is provided by unpaid caregivers</span></span></p><p style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #737373; font-family: ProximaNova; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;"><span style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; font-family: inherit; font-size: 10px; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;"><img alt="80% of care at home is provided by unpaid caregivers" src="https://www.emeraldhost.net/files/newsletters/WA_22026_%20Medicaid%20May%20Pay%20You%20as%20a%20Family%20Caregiver%20CHART.jpg" style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; font: inherit; margin: 0px; max-width: 100%; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;" /><br style="-webkit-font-smoothing: antialiased; box-sizing: border-box; text-rendering: optimizelegibility;" />Source: LongTermCare.gov</span></p><hr style="-webkit-font-smoothing: antialiased; background-color: white; border-bottom-color: rgba(255, 255, 255, 0.3); border-bottom-style: solid; border-image: initial; border-left: 0px; border-right: 0px; border-top-color: rgba(0, 0, 0, 0.1); border-top-style: solid; box-sizing: content-box; color: #737373; font-family: ProximaNova; height: 0px; margin: 30px 0px; text-rendering: optimizelegibility;" /><p style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #737373; font-family: ProximaNova; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;">Medicaid rules and services are different in each state, and there may be more than one program that offers caregiver benefits. For instance, some programs may pay for family caregivers but exclude spouses or in-laws. Others may provide compensation only if the caregiver does not live in the same house as the person receiving care. Contact your state Medicaid office for information about its programs and respective eligibility requirements, or visit <a href="http://medicaidplanningassistance.org/state-specific-medicaid-eligibility/" style="-webkit-font-smoothing: antialiased; background-color: transparent; border: 0px; box-sizing: border-box; color: #34749d; cursor: pointer; font: inherit; margin: 0px; padding: 0px; text-decoration-line: none; text-rendering: optimizelegibility; vertical-align: baseline;" target="_top"><em style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; font-family: inherit; font-size: inherit; font-stretch: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;"><span style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; font-family: inherit; font-size: inherit; font-stretch: inherit; font-style: inherit; font-variant: inherit; font-weight: 700; line-height: inherit; margin: 0px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;">medicaidplanningassistance.org/state-specific-medicaid-eligibility/</span></em></a>.</p><p style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #737373; font-family: ProximaNova; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;">Reposted from <a href="https://www.marktoney.com/Did-You-Know-Medicaid-May-Pay-You-as-a-Family-Caregiver.c9849.htm" rel="nofollow" target="">marktoney.com</a></p><p class="article-footer" style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #737373; font-family: ProximaNova; font-size: 11px; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;">1) U.S. Department of Health and Human Services, 2020</p><p class="article-footer" style="-webkit-font-smoothing: antialiased; background-color: white; border: 0px; box-sizing: border-box; color: #737373; font-family: ProximaNova; font-size: 11px; font-stretch: inherit; font-variant-east-asian: inherit; font-variant-numeric: inherit; line-height: 1.4; margin: 0px 0px 14px; padding: 0px; text-rendering: optimizelegibility; vertical-align: baseline;">This information is not intended as tax, legal, investment, or retirement advice or recommendations, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek guidance from an independent tax or legal professional. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. This material was written and prepared by Broadridge Advisor Solutions. © 2022 Broadridge Financial Solutions, Inc.</p>Mark Toneyhttp://www.blogger.com/profile/00590636274030975836noreply@blogger.com0tag:blogger.com,1999:blog-282129884363850003.post-86560306437150054742021-12-11T00:31:00.005-05:002022-11-01T15:31:52.420-04:00Balancing Medicare and Work-Based Insurance<p> <span style="background-color: white; font-family: "Proxima N W01 Reg"; font-size: 16px; font-weight: bold;">The number of working Americans age 65 and older dropped by 1.1 million during the first three months of the pandemic and has been slower to recover than other age groups. Even so, more than 10.8 million workers are eligible for Medicare, and the number is likely to grow as 10,000 baby boomers turn 65 every day until 2030.</span><span class="article-super" style="-webkit-font-smoothing: antialiased; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 11px; font-weight: bold; line-height: 0; position: relative; text-rendering: optimizelegibility; top: -0.5em; vertical-align: baseline;">1–2</span></p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">Some employers — especially small businesses — may require employees or covered spouses to enroll in Medicare when they are eligible in order to retain their employer-sponsored health insurance. But many workers who are eligible for both types of coverage can choose one or the other, or both. To make an informed decision, it’s important to understand an array of rules and other considerations regarding costs and coverage.<span></span></p><a name='more'></a><p></p><p class="article-subtitle" style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; font-weight: bold; margin: 0px; padding: 0px; text-rendering: optimizelegibility;">Primary Insurance vs. Secondary Insurance</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">If an employer has 20 or more employees, the employer health coverage is primary and would pay first for covered expenses. Medicare is secondary and may pay for some expenses not covered by the employer coverage. Employers with 20 or more employees must offer the same health insurance benefits to employees age 65 and older that are offered to younger workers. The same is true of spousal benefits, if offered.</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">If an employer has fewer than 20 employees (and is not part of a multi-employer group for health insurance), Medicare would be primary and the employer coverage would be secondary, which is why small businesses may require eligible employees or spouses to enroll in Medicare in order to have employer-sponsored coverage.</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">Ask your employer if you have questions about your coverage at age 65.</p><p class="article-subtitle" style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; font-weight: bold; margin: 0px; padding: 0px; text-rendering: optimizelegibility;">Part A Hospital Insurance and HSAs</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">Medicare Part A helps pay for inpatient hospital care as well as some skilled nursing facility, hospice, and home health care. Because it is free for most people, consider enrolling in Part A even if you have employer coverage. It could be helpful to have both types of insurance to fill any coverage gaps. However, if you have to pay for Part A, you may want to wait before enrolling.</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">If you have a high-deductible health plan through work, keep in mind that you cannot contribute to a health savings account (HSA) after you enroll in Medicare. The HSA is yours, even if you can no longer contribute to it, and you can use the tax-advantaged funds to pay Medicare premiums, along with other qualified medical expenses. So it might be helpful to build your HSA balance before enrolling in Medicare.</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">Whether you should opt out of premium-free Part A in order to contribute to an HSA depends on what you consider to be more valuable: secondary hospital insurance coverage or tax-advantaged contributions. HSA funds can be withdrawn free of federal income tax and penalties provided the money is spent on qualified health-care expenses. HSA contributions and earnings may or may not be subject to state taxes.</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">If you claim Social Security benefits, regardless of your work status, you will be enrolled automatically in Part A and will not be able to contribute to an HSA.</p><p class="article-subtitle" style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; font-weight: bold; margin: 0px; padding: 0px; text-rendering: optimizelegibility;">Part B and Part D</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">Medicare Part B medical insurance, which helps pay for physician and outpatient expenses, requires premium payments, so it would be wise to compare the costs and benefits of Medicare to your employer’s plan. If you’re satisfied with your employer coverage, you can generally wait to enroll in Part B. The same is true of Medicare Part D, which helps pay for prescription drug costs.</p><hr style="-webkit-font-smoothing: antialiased; background-color: white; border-bottom: 0px; border-image: initial; border-left: 0px; border-right: 0px; border-top-color: rgb(238, 238, 238); border-top-style: solid; box-sizing: content-box; font-family: "Proxima N W01 Reg"; font-size: 16px; height: 0px; margin-bottom: 20px; margin-top: 20px; text-rendering: optimizelegibility;" /><p class="article-subtitle" style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; font-weight: bold; margin: 0px; padding: 0px; text-rendering: optimizelegibility;">Working After 65</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">The percentage of working Americans age 65 and older decreased steadily after Medicare was signed into law in July 1965 and began to rise again in 1985, due to a variety of factors, including the decline of traditional pensions, more knowledge-based jobs, and longer lifespans. The percentage dropped sharply in the early months of the pandemic, and it remains to be seen whether it will return to its pre-pandemic high.</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;"><span style="-webkit-font-smoothing: antialiased; box-sizing: border-box; font-size: 10px; text-rendering: optimizelegibility;"><img alt="Percentage of Americans working after 65 was 18.1% in May 1965 and dropped to 10% in January 1985. The percentage rose to a high of 20.1% in February 2020, before falling to 18.4% in October 2021." src="https://www.marktoney.com/files/Newsletters/WA_21124_Balancing%20MedicareCHART.jpg" style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; margin-bottom: 5px; margin-top: 5px; max-width: 100%; text-rendering: optimizelegibility; vertical-align: middle;" /><br style="-webkit-font-smoothing: antialiased; box-sizing: border-box; text-rendering: optimizelegibility;" /><br style="-webkit-font-smoothing: antialiased; box-sizing: border-box; text-rendering: optimizelegibility;" />Source: U.S. Bureau of Labor Statistics, 2021</span></p><hr style="-webkit-font-smoothing: antialiased; background-color: white; border-bottom: 0px; border-image: initial; border-left: 0px; border-right: 0px; border-top-color: rgb(238, 238, 238); border-top-style: solid; box-sizing: content-box; font-family: "Proxima N W01 Reg"; font-size: 16px; height: 0px; margin-bottom: 20px; margin-top: 20px; text-rendering: optimizelegibility;" /><p class="article-subtitle" style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; font-weight: bold; margin: 0px; padding: 0px; text-rendering: optimizelegibility;">Enrollment Periods and Penalties</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">You can enroll in premium-free Medicare Part A without a penalty any time after you become eligible. However, late-enrollment penalties may apply if you do not enroll in premium-based Part A and Part B — or a Medicare Advantage Plan in lieu of Parts A and B — when you are first eligible. These penalties do <em style="-webkit-font-smoothing: antialiased; box-sizing: border-box; text-rendering: optimizelegibility;">not</em> apply if you are covered by employer-sponsored health insurance, as long as you enroll within eight months after the last day of employment, regardless of when the employer-sponsored coverage ends.</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">You can enroll in a Part D prescription drug plan during the two full months after your employer-sponsored coverage ends as long as it is “creditable prescription drug coverage.” Most employer plans are considered creditable. If you do not enroll during this two-month period, you will have to wait until the open enrollment period from October 15 to December 7 each year.</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">Medicare rules are complex, and these are only guidelines. For more detailed information, visit <a href="https://www.medicare.gov/" style="-webkit-font-smoothing: antialiased; background: transparent; box-sizing: border-box; color: black; text-rendering: optimizelegibility;" target="_top"><em style="-webkit-font-smoothing: antialiased; box-sizing: border-box; text-rendering: optimizelegibility;"><strong style="-webkit-font-smoothing: antialiased; box-sizing: border-box; font-family: "Proxima N W01 Smbd"; text-rendering: optimizelegibility;">medicare.gov</strong></em></a>.</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">Reposted from <a href="https://www.marktoney.com/Balancing-Medicare-and-Work-Based-Insurance.c9816.htm" rel="nofollow" target="_blank">marktoney.com</a></p><p class="article-footer" style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 11px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">1) U.S. Bureau of Labor Statistics, 2021<br style="-webkit-font-smoothing: antialiased; box-sizing: border-box; text-rendering: optimizelegibility;" />2) U.S. Census Bureau, 2019</p><p class="article-footer" style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 11px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">This information is not intended as tax, legal, investment, or retirement advice or recommendations, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek guidance from an independent tax or legal professional. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. This material was written and prepared by Broadridge Advisor Solutions. © 2021 Broadridge Financial Solutions, Inc.</p>Mark Toneyhttp://www.blogger.com/profile/00590636274030975836noreply@blogger.com0tag:blogger.com,1999:blog-282129884363850003.post-85039939586080493812021-11-22T23:42:00.000-05:002021-11-22T23:42:02.171-05:00These everyday habits may increase your risk of developing dementia<p> <span style="background-color: white; color: #0f1419; font-family: TwitterChirp, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif; font-size: 15px; white-space: pre-wrap;">Dementia is a significant health risk that can reduce one's quality of life and impose cognitive, as well as mental difficulties. A general term given to the neurodegenerative diseases which cause cognitive impairment, memory loss, impact day-to-day living, behavior, communicative skills, and personality changes. The kind of lifestyle you lead, dietary deficiencies may increase one's chances of developing dementia, memory loss, or aging faster than usual. In particular, these habits can prove to be the most impactful and impact brain health significantly ...</span></p><p><span style="background-color: white; color: #0f1419; font-family: TwitterChirp, -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Helvetica, Arial, sans-serif; font-size: 15px; white-space: pre-wrap;"><a href="https://twitter.com/i/events/1462777336466530308?s=20" rel="nofollow" target="_blank">Read more at ET Times Lifestyle</a> </span></p>Mark Toneyhttp://www.blogger.com/profile/00590636274030975836noreply@blogger.com0tag:blogger.com,1999:blog-282129884363850003.post-69912201715296417172021-11-15T10:40:00.006-05:002022-11-01T15:32:19.038-04:00Is a High-Deductible Health Plan Right for You?<p> <span style="background-color: white; font-family: "Proxima N W01 Reg"; font-size: 16px; font-weight: bold;">In 2020, 31% of U.S. workers with employer-sponsored health insurance had a high-deductible health plan (HDHP), up from 24% in 2015.</span><span class="article-super" style="-webkit-font-smoothing: antialiased; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 11px; font-weight: bold; line-height: 0; position: relative; text-rendering: optimizelegibility; top: -0.5em; vertical-align: baseline;">1</span><span style="background-color: white; font-family: "Proxima N W01 Reg"; font-size: 16px; font-weight: bold;"> </span><span style="background-color: white; font-family: "Proxima N W01 Reg"; font-size: 16px; font-weight: bold;">These plans are also available outside the workplace through private insurers and the Health Insurance Marketplace.</span></p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">Although HDHP participation has grown rapidly, the most common plan — covering almost half of U.S. workers — is a traditional preferred provider organization (PPO).<span class="article-super" style="-webkit-font-smoothing: antialiased; box-sizing: border-box; font-size: 11px; line-height: 0; position: relative; text-rendering: optimizelegibility; top: -0.5em; vertical-align: baseline;">2</span> If you are thinking about enrolling in an HDHP or already enrolled in one, here are some factors to consider when comparing an HDHP to a PPO.<span></span></p><a name='more'></a><p></p><p class="article-subtitle" style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; font-weight: bold; margin: 0px; padding: 0px; text-rendering: optimizelegibility;">Up-Front Savings</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">The average annual employee premium for HDHP family coverage in 2020 was $4,852 versus $6,017 for a PPO — a savings of $1,165 per year.<span class="article-super" style="-webkit-font-smoothing: antialiased; box-sizing: border-box; font-size: 11px; line-height: 0; position: relative; text-rendering: optimizelegibility; top: -0.5em; vertical-align: baseline;">3</span> In addition, many employers contribute to a health savings account (HSA) for the employee, and contributions by the employer or the employee are tax advantaged (see below). Taken together, these features could add up to substantial savings that can be used to pay for current and future medical expenses.</p><p class="article-subtitle" style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; font-weight: bold; margin: 0px; padding: 0px; text-rendering: optimizelegibility;">Pay As You Go</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">In return for lower premiums, you pay more out of pocket for medical services with an HDHP until you reach the annual deductible.</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;"><strong style="-webkit-font-smoothing: antialiased; box-sizing: border-box; font-family: "Proxima N W01 Smbd"; text-rendering: optimizelegibility;">Deductible.</strong> An HDHP has a higher deductible than a PPO, but PPO deductibles have been rising, so consider the <em style="-webkit-font-smoothing: antialiased; box-sizing: border-box; text-rendering: optimizelegibility;">difference</em> between plan deductibles and whether the deductible is per person or per family. PPOs may have a separate deductible (or no deductible) for prescription drugs, but the HDHP deductible will apply to all covered medical spending.</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;"><strong style="-webkit-font-smoothing: antialiased; box-sizing: border-box; font-family: "Proxima N W01 Smbd"; text-rendering: optimizelegibility;">Copays.</strong> PPOs typically have copays that allow you to obtain certain services and prescription drugs with a defined payment before meeting your deductible. With an HDHP, you pay out of pocket until you meet your deductible, but costs may be reduced through the insurer’s negotiated rate. Consider the difference between the copay and the negotiated rate for a typical service such as a doctor visit. Certain types of preventive care and preventive medicines may be provided at no cost under both types of plans.</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;"><strong style="-webkit-font-smoothing: antialiased; box-sizing: border-box; font-family: "Proxima N W01 Smbd"; text-rendering: optimizelegibility;">Maximums.</strong> Most health insurance plans have annual and lifetime out-of-pocket maximums above which the insurer pays all medical expenses. HDHP maximums may be the same or similar to that of PPO plans. (Some PPO plans have a separate annual maximum for prescription drugs.) If you have high medical costs that exceed the annual maximum, your total out-of-pocket costs for that year would typically be lower for an HDHP with the savings on premiums.</p><hr style="-webkit-font-smoothing: antialiased; background-color: white; border-bottom: 0px; border-image: initial; border-left: 0px; border-right: 0px; border-top-color: rgb(238, 238, 238); border-top-style: solid; box-sizing: content-box; font-family: "Proxima N W01 Reg"; font-size: 16px; height: 0px; margin-bottom: 20px; margin-top: 20px; text-rendering: optimizelegibility;" /><p class="article-subtitle" style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; font-weight: bold; margin: 0px; padding: 0px; text-rendering: optimizelegibility;">HSA Contribution Limits</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">Annual contributions can be made up to the April tax filing deadline of the following year. Any employer contributions must be considered as part of the annual limit.</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;"><span style="-webkit-font-smoothing: antialiased; box-sizing: border-box; font-size: 10px; text-rendering: optimizelegibility;"><img alt="HSA contribution limits for 2021: Self coverage $3,600; family coverage $7,200; additional contribution by HSA owner, age 55+* $1,000. HSA contribution limits for 2022: Self coverage $3,650; family coverage $7,300; additional contribution by HSA owner, age 55+* $1,000." src="https://www.marktoney.com/files/Newsletters/WA_21113_Is%20a%20High%20Deductible%20Health%20Plan%20CHART.jpg" style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; max-width: 100%; text-rendering: optimizelegibility; vertical-align: middle;" /><br style="-webkit-font-smoothing: antialiased; box-sizing: border-box; text-rendering: optimizelegibility;" /><br style="-webkit-font-smoothing: antialiased; box-sizing: border-box; text-rendering: optimizelegibility;" />*HSA contributions cannot be made after enrolling in Medicare.</span></p><hr style="-webkit-font-smoothing: antialiased; background-color: white; border-bottom: 0px; border-image: initial; border-left: 0px; border-right: 0px; border-top-color: rgb(238, 238, 238); border-top-style: solid; box-sizing: content-box; font-family: "Proxima N W01 Reg"; font-size: 16px; height: 0px; margin-bottom: 20px; margin-top: 20px; text-rendering: optimizelegibility;" /><p class="article-subtitle" style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; font-weight: bold; margin: 0px; padding: 0px; text-rendering: optimizelegibility;">Your Choices and Preferences</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">Both PPOs and HDHPs offer incentives to use health-care providers within a network, and the network may be exactly the same if the plans are offered by the same insurance company. Make sure your preferred doctors are included in the network before enrolling.</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">Also consider whether you are comfortable using the HDHP structure. Although it may save money over the course of a year, you might be hesitant to obtain appropriate care because of the higher out-of-pocket expense at the time of service.</p><p class="article-subtitle" style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; font-weight: bold; margin: 0px; padding: 0px; text-rendering: optimizelegibility;">Health Savings Accounts</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">High-deductible health plans are designed to be paired with a tax-advantaged health savings account that can be used to pay medical expenses incurred after the HSA is established. HSA contributions are typically made through pre-tax payroll deductions, but in most cases they can also be made as tax-deductible contributions directly to the HSA provider. HSA funds, including any earnings if the account has an investment option, can be withdrawn free of federal income tax and penalties as long as the money is spent on qualified health-care expenses. (Some states do not follow federal tax rules on HSAs.)</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">The assets in an HSA can be retained in the account or rolled over to a new HSA if you change employers or retire. Unspent HSA balances can be used to pay future medical expenses, whether you are enrolled in an HDHP or not; however, you must be enrolled in an HDHP to establish and contribute to an HSA.</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">Reposted from <a href="https://www.marktoney.com/Is-a-High-Deductible-Health-Plan-Right-for-You.c9798.htm" rel="nofollow" target="_blank">marktoney.com</a></p><p class="article-footer" style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 11px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">1–3) Kaiser Family Foundation, 2020</p><p class="article-footer" style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "Proxima N W01 Reg"; font-size: 11px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">This information is not intended as tax, legal, investment, or retirement advice or recommendations, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek guidance from an independent tax or legal professional. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. This material was written and prepared by Broadridge Advisor Solutions. © 2021 Broadridge Financial Solutions, Inc.</p>Mark Toneyhttp://www.blogger.com/profile/00590636274030975836noreply@blogger.com0tag:blogger.com,1999:blog-282129884363850003.post-59219309862421448262021-10-07T22:40:00.004-04:002022-11-01T15:32:51.059-04:00Disability Income Insurance for Business Owners<p><span style="background-color: white; font-family: "proxima n w01 reg"; font-size: 16px;">One of your greatest assets is the ability to earn an income. If you were to lose that ability due to a disabling accident or illness, how would you pay your bills, send your kids to college, and save for retirement?</span></p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "proxima n w01 reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">A disability can create substantial economic hardship for individuals and their families. As a business owner, both your personal finances and your business could be at risk.</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "proxima n w01 reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">One way to help protect against the financial loss associated with a disability is to purchase disability income insurance. If you pay the premiums, an individual policy can provide you with a tax-free income stream while you are unable to work.</p><h2 style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: domine, serif; font-size: 18px; font-weight: 400; line-height: 1.1; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">Weigh Your Options<span><a name='more'></a></span></h2><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "proxima n w01 reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">When evaluating disability income insurance policies, it’s helpful to consider the following.</p><ul style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "proxima n w01 reg"; font-size: 16px; list-style-position: outside; margin-bottom: 10px; margin-top: 0px; text-rendering: optimizelegibility;"><li style="-webkit-font-smoothing: antialiased; box-sizing: border-box; text-rendering: optimizelegibility;"><strong style="-webkit-font-smoothing: antialiased; box-sizing: border-box; font-family: "proxima n w01 smbd"; text-rendering: optimizelegibility;"><em style="-webkit-font-smoothing: antialiased; box-sizing: border-box; text-rendering: optimizelegibility;">Definition of disability.</em></strong> You can typically choose between “own occupation” coverage and “any occupation” coverage. With “any occupation” coverage, you can claim disability only if you are unable to perform any type of job. This type of coverage is generally less expensive than “own occupation” coverage.</li><li style="-webkit-font-smoothing: antialiased; box-sizing: border-box; text-rendering: optimizelegibility;"><strong style="-webkit-font-smoothing: antialiased; box-sizing: border-box; font-family: "proxima n w01 smbd"; text-rendering: optimizelegibility;"><em style="-webkit-font-smoothing: antialiased; box-sizing: border-box; text-rendering: optimizelegibility;">Amount of monthly coverage.</em></strong> You can purchase disability insurance that will replace a certain percentage of your income —normally up to 50% or 60% of your pre-disability income. You should purchase coverage that will enable you to meet your monthly financial obligations.</li><li style="-webkit-font-smoothing: antialiased; box-sizing: border-box; text-rendering: optimizelegibility;"><strong style="-webkit-font-smoothing: antialiased; box-sizing: border-box; font-family: "proxima n w01 smbd"; text-rendering: optimizelegibility;"><em style="-webkit-font-smoothing: antialiased; box-sizing: border-box; text-rendering: optimizelegibility;">Waiting period. </em></strong>The waiting period represents the amount of time that must pass between the date you become disabled and the date that disability income payments begin. The longer the waiting period, the less expensive coverage will be.</li><li style="-webkit-font-smoothing: antialiased; box-sizing: border-box; text-rendering: optimizelegibility;"><strong style="-webkit-font-smoothing: antialiased; box-sizing: border-box; font-family: "proxima n w01 smbd"; text-rendering: optimizelegibility;"><em style="-webkit-font-smoothing: antialiased; box-sizing: border-box; text-rendering: optimizelegibility;">Benefit period.</em></strong> The benefit period can range from several months to life. The longer the benefit period, the higher the cost of insurance.</li></ul><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "proxima n w01 reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">A disability income insurance policy could make the difference between financial security and financial hardship. Don’t wait to consider this protection until it’s too late.</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "proxima n w01 reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;"> Reposted from <a href="https://www.marktoney.com/Disability-Income-Insurance-for-Business-Owners.c1072.htm" rel="nofollow" target="_blank">marktoney.com</a></p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "proxima n w01 reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-align: justify; text-rendering: optimizelegibility;"><span style="-webkit-font-smoothing: antialiased; box-sizing: border-box; font-size: 12px; text-rendering: optimizelegibility;">The information in this newsletter is not intended as tax, legal, investment, or retirement advice or recommendations, and it may not be relied on for the purpose of avoiding any federal tax penalties. </span><span face="Arial, Verdana, sans-serif" style="-webkit-font-smoothing: antialiased; box-sizing: border-box; color: #222222; font-size: 12px; text-rendering: optimizelegibility;">You are encouraged to seek guidance from an independent tax or legal professional. </span><span style="-webkit-font-smoothing: antialiased; box-sizing: border-box; font-size: 12px; text-rendering: optimizelegibility;">The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. This material was written and prepared by Broadridge Advisor Solutions. © 2021 Broadridge Financial Solutions, Inc.</span></p>Mark Toneyhttp://www.blogger.com/profile/00590636274030975836noreply@blogger.com0tag:blogger.com,1999:blog-282129884363850003.post-25174488801142953722021-10-07T22:11:00.001-04:002022-11-01T15:33:03.186-04:00Four Reasons to Review Your Life Insurance Needs<h1 class="article-title" style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: domine, serif; font-size: 30px; font-weight: 400; line-height: 1.1; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">Four Reasons to Review Your Life Insurance Needs</h1><p class="article-subheading" style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "proxima n w01 reg"; font-size: 16px; font-weight: bold; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">You may have purchased life insurance years ago and never gave it a second thought. Or perhaps you don’t have life insurance at all and now you need it. When your life circumstances change, you have a fresh opportunity to make sure the people you love are protected.</p><p class="article-subtitle" style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "proxima n w01 reg"; font-size: 16px; font-weight: bold; margin: 0px; padding: 0px; text-rendering: optimizelegibility;">Marriage</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "proxima n w01 reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">When you were single, life insurance might have seemed like an unnecessary expense, but now someone else is depending on your income. If something happens to you, your spouse will likely need to rely on life insurance benefits to meet expenses and pay off debts.</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "proxima n w01 reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">The amount of life insurance coverage you need depends on your income, your debts and assets, your financial goals, and other personal factors. Even if you have some low-cost life insurance through work, this might not be enough. Buying life insurance coverage through a private insurer could help fill the gap.<span></span></p><a name='more'></a><p></p><p class="article-subtitle" style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "proxima n w01 reg"; font-size: 16px; font-weight: bold; margin: 0px; padding: 0px; text-rendering: optimizelegibility;">Parenthood</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "proxima n w01 reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">When children arrive, revisiting your life insurance needs could help you protect your growing family’s financial security. Life insurance proceeds might help your family meet both their current obligations, such as a mortgage, child care, or car payments, and future expenses, including a child’s college education. Even if you already have life insurance, children are among the most important reasons to review your policy limits and beneficiary designations.</p><p class="article-subtitle" style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "proxima n w01 reg"; font-size: 16px; font-weight: bold; margin: 0px; padding: 0px; text-rendering: optimizelegibility;">Retirement</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "proxima n w01 reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">As you prepare to leave the workforce, reevaluate your need for life insurance. You might think that you can do without it if you’ve paid off all your debts and feel financially secure. But if you’re like some retirees, your financial picture may not be so rosy, especially if you’re still saddled with mortgage payments, student loan bills, and other obligations. Life insurance protection could still be important if you haven’t accumulated sufficient assets to provide for your family, or you want to replace retirement income lost when you are no longer around.</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "proxima n w01 reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">Life insurance can also be an important tool to help you transfer wealth to the next generation. Or perhaps you’re looking for a way to pay your estate tax bill or leave something to charity. You may need to keep some of your life insurance in force or buy a different type of coverage.</p><hr style="-webkit-font-smoothing: antialiased; background-color: white; border-bottom: 0px; border-image: initial; border-left: 0px; border-right: 0px; border-top-color: rgb(238, 238, 238); border-top-style: solid; box-sizing: content-box; font-family: "proxima n w01 reg"; font-size: 16px; height: 0px; margin-bottom: 20px; margin-top: 20px; text-rendering: optimizelegibility;" /><p class="article-subtitle" style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "proxima n w01 reg"; font-size: 16px; font-weight: bold; margin: 0px; padding: 0px; text-rendering: optimizelegibility;">Consumers Understand the Value of Life Insurance</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "proxima n w01 reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;"><span style="-webkit-font-smoothing: antialiased; box-sizing: border-box; font-size: 10px; text-rendering: optimizelegibility;"><img alt="59% of uninsured Americans say they need life insurance; 52% report they have life insurance; 36% say they plan to buy life insurance within 12 months; 22% are insured but feel they need more coverage." src="https://www.emeraldhost.net/files/newsletters/WA_21102_Life%20Insurance%20Needs%20CHART.jpg" style="-webkit-font-smoothing: antialiased; border: 0px; box-sizing: border-box; max-width: 100%; text-rendering: optimizelegibility; vertical-align: middle;" /><br style="-webkit-font-smoothing: antialiased; box-sizing: border-box; text-rendering: optimizelegibility;" />Source: 2021 Insurance Barometer Study, Life Happens and LIMRA</span></p><hr style="-webkit-font-smoothing: antialiased; background-color: white; border-bottom: 0px; border-image: initial; border-left: 0px; border-right: 0px; border-top-color: rgb(238, 238, 238); border-top-style: solid; box-sizing: content-box; font-family: "proxima n w01 reg"; font-size: 16px; height: 0px; margin-bottom: 20px; margin-top: 20px; text-rendering: optimizelegibility;" /><p class="article-subtitle" style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "proxima n w01 reg"; font-size: 16px; font-weight: bold; margin: 0px; padding: 0px; text-rendering: optimizelegibility;">Health Changes</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "proxima n w01 reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">A common concern is that life insurance coverage will end if your insurer finds out that your health has declined. But if you’ve been paying your premiums, changes to your health will not matter. Some life insurance policies even offer accelerated (living) benefits that you can access in the event of a serious or long-term illness.</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "proxima n w01 reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">You may be able to buy additional life insurance if you need it, especially if you purchase group insurance through your employer during an open enrollment period. Purchasing an individual policy might be more difficult and more expensive, but check with your insurance representative to explore your options.</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "proxima n w01 reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">Of course, it’s also possible that your health has improved. For example, perhaps you’ve stopped smoking or lost a significant amount of weight. If so, you may now qualify for a lower premium.</p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "proxima n w01 reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;"><em style="-webkit-font-smoothing: antialiased; box-sizing: border-box; text-rendering: optimizelegibility;">The cost and availability of life insurance depend on factors such as age, health, and the type and amount of insurance purchased. Before implementing a strategy involving life insurance, it would be prudent to make sure that you are insurable. As with most financial decisions, there are expenses associated with the purchase of life insurance. Policies commonly have mortality and expense charges. Any guarantees are contingent on the financial strength and claims-paying ability of the issuing insurance company. Optional benefits are available for an additional cost and are subject to contractual terms, conditions, and limitations.</em></p><p style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "proxima n w01 reg"; font-size: 16px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;"><span style="-webkit-font-smoothing: antialiased; box-sizing: border-box; text-rendering: optimizelegibility;">Reposted from <a href="https://www.marktoney.com/Four-Reasons-to-Review-Your-Life-Insurance-Needs.c9786.htm" rel="nofollow" target="_blank">marktoney.com</a></span></p><p class="article-footer" style="-webkit-font-smoothing: antialiased; background-color: white; box-sizing: border-box; font-family: "proxima n w01 reg"; font-size: 11px; margin: 0px 0px 0.75em; padding: 0px; text-rendering: optimizelegibility;">This information is not intended as tax, legal, investment, or retirement advice or recommendations, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek guidance from an independent tax or legal professional. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. This material was written and prepared by Broadridge Advisor Solutions. © 2021 Broadridge Financial Solutions, Inc.</p>Mark Toneyhttp://www.blogger.com/profile/00590636274030975836noreply@blogger.com0