Compare Insurance Online - Homeowners, Auto, Health, Life, Long Term Care, Annuities!: Long Term Care Options

Compare Insurance Online - Homeowners, Auto, Health, Life, Long Term Care, Annuities!: Long Term Care Options

Long Term Care Options

MEDICARE AND ANNUITIES
I have posted in the past about Long Term Care Issues. Medicare DOES NOT COVER LONG TERM CARE. It will cover short stays in nursing homes. For more specific information please go to:

MEDICARE OFFICIAL WEBSITE WITH LONG TERM CARE INFORMATION

PAYING FOR LONG TERM CARE
The tradional options for paying for Long Term Care (which can run around $4,000 a month) are personal finances, long term care insurance, or depleting all savings - and ending up filing for Medicaid.

LONG TERM CARE INSURANCE
Of all of these traditional options - Long Term Care Insurance is probably the most attractive. However, as people age, premiums can get very expensive. Plus, prices rise - so that $100/day policy which looked great in 1995 - may not pay the bills in 2005. The real drawback to most long term care policies - though I do think they can be a very viable solution - is that if the policy is never used, that money is lost. However, that's the situation with almost all insurance. If you buy auto insurance, and never have an accident - your premium dollars went to pay for somebody else's accidents, plus the stockholders dividend checks. C'est La Vie!

GET AN INSTANT LONG TERM CARE INSURANCE QUOTE


LONG TERM CARE ANNUITIES AND ANNUITIES WITH LONG TERM CARE
Another solution is a new product called a long term care annuity. One popular plan requires a minimum of $36,500 to be deposited in the annuity. The annuity money actually earns interest and still pays off the included long term care premium. The money still grows while the premium is paid.

I guess the best part of this solution is that if the long term care money is never used, the bulk of the investment will still be held in the account. Unlike most annuities, you will have to qualify with some health questions - though they are generally simplified.

Many annuities have a long term care rider - i.e. you can take your money out without any penalty or surrender charges if confined to a nursing homes. The difference between a Long Term Care Annuity and a Long Term Care Rider on a normal annuity is that the Long Term Care Annuity actually contains Long Term Care Insurance - i.e. a claim won't deplete the annuity principle. With a normal annuity and a long term care rider - the money is just withdrawn without penalty.

CONCLUSION
If you don't have many assets, you may just want to take a risk. If you have to deplete your assets for Medicaid to kick in, the loss may be much less than paying for other options - and you probably won't have the minimum amount of money to start an annuity anyway. Spouses of those confined to a nursing home can usually protect some assets anyway. I know this is high heresy coming from an insurance agent - but there you go! Of course, you should consult with an attorney and do your own research. I'm just giving you another take on the situation - and actually I'm not the only one who has come to this conclusion.

If you do have assets, you will want to protect them for your spouse and children. If you have enough money to cosider a traditional annuity (5,000 - 10,000 minumus are common), the rider may be a good way to give yourself some 'self-insurance'.

If you have enough money to start a long term care annuity (36,000) you may have found the best of all possible worlds.

Otherwise, if you don't have enough free cash for an annuity, but can afford a monthly payment, regular long term care insurance with no savings feature may be an attractive option.

Good Luck, and I hope you never need to use long term care.

Compare Insurance Online - Homeowners, Auto, Health, Life, Long Term Care, Annuities!: Auto Insurance State Laws and Information

Compare Insurance Online - Homeowners, Auto, Health, Life, Long Term Care, Annuities!: Auto Insurance State Laws and Information

Auto Insurance State Laws and Information

In my surfing for insurance related information on the web, I came across a great new blog. No, it's not one of mine, but I wish it was.

The blog is called Auto Trader, and the focus is on buying and selling cars. However, they have included an entire section devoted to car insurance information, by state.

AUTO TRADER

AUTO TRADER CAR INSURANCE INFORMATION

Dental Insurance and Braces or other Orthodontics

Here's a common question: Why doesn't my dental insurance cover braces or other orthodontics? Well, actually some policies do cover braces, or they have riders which may cover them.

But the answer would be - because it's one more expense - and as you know - the more the policy covers - the more it costs. This would also answer the question as to why those companies which do cover braces - cover them as a rider, or an optional addition to the insurance contract.

You may be better off with a dental discount plan than insurance for items like braces. Orthodontics will be covered, they cost a lot less than insurance, and sometimes save you just as much money. For instance, a policy may have a deductible of $500 and limits of 1500. So the insurance would chip $100 off your bill - but the premium may be $50 a month.

CLICK HERE TO FIND A DENTAL DISCOUNT PLAN IN YOUR AREA, AND SEE IF YOUR DENTIST IS ON THE PLAN

A Note On Health Insurance

A word on health insurance types and features



Health insurance comes in “many shapes and sizes”. Basically it can either be fully guaranteed issue or it can be fully underwritten. . Guaranteed issue means that the insurer can not decline to issue the policy nor can they rider or exclude any specific health issues. Common riders, for example, may exclude the treatment for: allergies, asthma, skin conditions, fibrocystic breast condition, carpal tunnel syndrome, back or spine etc.

Fully underwritten means that the insurer has the option to decide whether they will assume the risk for specific individuals or medical conditions. In general insurance companies can: issue the policy standard or “rate up” (charge additional premium) and agree to cover all conditions from the policy effective date. They can also issue standard or rate up but may not cover pre-existing medical conditions till after a period certain (usually 12-24 months). They may also decide that they will rider (exclude) the treatment for a specific medical condition. Finally they may decline to issue the application altogether. Each Insurance company will have different underwriting practices and guidelines.

Ok - Enough Insurance Today - Do Some Cooking

No kidding - I just got back from vacation, and am not in the mood to discuss insurance.

Here's a new cooking blog for people who want to prepare good food, but lack the time, training, or budget to do it the old fashioned, fussy recipe way!

http://cookfast.blogspot.com

COOK FAST

The cooking blog is new - but looks like it might be funny, and even have some good information.

Health Insurance and Taxes

I am NOT a tax professional, however your individual health insurance premiums should be a tax deductible expense. It's only fair. After all, corporations get to deduct premiums. Why should individuals, contractors, and small business owners be penalized?

If you are looking for some other ways to reduce your tax bill, here's a great article:


Beginner's Guide to Investing - Tax Guide

gas blues - off topic

Oh No.... I feel like Mr. Bill from the old Saturday Night Live Shows when I was a pup!

It looks like BP has pipeline problems, and so we've got gas price problems - like we needed more! If you could use some tips on saving money on your gasoline and other fuel bill, check out this blog.

http://gasblues.blogspot.com/

GAS BLUES BLOG FOR MONEY SAVING FUEL TIPS!

Free Car Insurance Quotes

You can hardly watch any TV program without seeing auto insurance ads. It's incredibly big business, because almost everybody needs car insurance.

Here's an easy way to determine if you're getting a good deal. Remember, price is important but it's not everything. A company with excellant service, moderate deductibles, etc. will save you money in the long run!


CLICK HERE FOR A FREE CAR INSURANCE QUOTE

Long Term Care Insurance

Many people don't realize that Medicare provides very little nursing care coverage - and does not provide long term care insurance.

For long term nursing care, your options are personal finances, government programs like Medicaid, or long term care insurance. Most seniors do not have the personal finances to last long in a nursing home where the bills can be three or four thousand dollars a month. Low income programs like Medicaid will kick in, but seniors must meet asset and income requirements.

This is the official Medicare Website on Long Term Care:
http://www.medicare.gov/LongTermCare/Static/Home.asp

If long term care insurance is something you are thinking about, a quick form on this website can help you find out about rates and options:
CLICK HERE FOR LONG TERM CARE RATES OPTIONS AND TO FIND AN AGENT

Homeowners Insurance Blues

It seems like homeowners insurance rates are getting jacked up all over. The Gulf region is getting hit especially hard after last summer's hurricanes and bad weather.

If you'd you like to see if you can save money on a homeowner's quote, I have an easy way to find competitive quotes and agents in your area and your state.

You have to fill in a little information - you should get taken to a quote - and the names of agents in your area who can help you. Sometimes it is best to chat with an agent becaue they can help you determine your needs - maybe you can pare off a bit.

Homeowners Insurance Quotes and Agents: Click Here for Quick Access to Homeowners Insurance Quotes and Property Agents

Limited Benefit Health Insurance

I found an interesting area on limited or specified benefit health insurance plans. Now, this is about the WALMART plan - and the article is very negative. While it is important to remember that specified benefit plans are not Major Medical - some are better than others - and they may be more affordable, plus take people with health conditions that other plans won't accept. I.E. sometimes a limited or specified benefit plan is a reasonable alternative - BUT it's important to understand what you are buying.

Anyway, here's the article about Walmart's coverage:
http://www.dsausa.org/lowwage/walmart/health.html

Health Insurance Agent - Do you need one?

Well, the answer is Maybe.....

TEXANS.....
You can get an idea of what plans are available to you, and how much it costs here....

TEXAS HEALTH QUOTES


You can even apply online. However, I would suggest calling an agent if you are confused about the different options, or have questions about terms like coinsurance, out of pocket maximums, deductibles, etc.

If you are NOT in Texas - and not everybody can be.... this company supports the whole U.S. with online quotes....

ALL U.S. HEALTH QUOTES!

Need Health Insurance Fast?

One overlooked product is short term health insurance. You can usually buy it for periods of 6 to 12 months, and put it in place quickly.

The reason people should buy health insurance is to protect them from catostrophic illness, and short term health insurance can do this very well. If you are between jobs, waiting for health insurance to kick in, or just not in a postition to commit to long term health insurance, short term can give you peace of mind - usually costs less - and gets in place very fast!

TEXANS CLICK HERE TO QUOTE AND APPLY

Not a Texan - well, not everybody can be... (SMILE):

If y'all are not a Texan click here to quote and apply!

Health Insurance tip

1. Review your health insurance policy and make sure you understand coverage restrictions and exclusions. For example, health insurance typically excludes most dental benefits. Understand that if you have a medical condition that results in damage to your teeth, while the medical condition may be covered, dentistry to restore your damaged teeth may not be.
2. Understand your responsibilities under your health plan. Have you selected a primary care provider (PCP)? Do you need a referral from your primary care provider for services and procedures your PCP cannot provide? Have you received written confirmation that a requested referral has been approved, or, if you need authorization before a written notice has time to get to you, have you called your insurer to make sure they have authorized the referral? Have you confirmed with your insurer that the services your PCP has made a referral for are services covered by your health plan? For example, your PCP may refer you for infertility treatment, but if your policy doesn’t cover infertility treatment there are no benefits available. Do not assume that if you request a referral from your PCP the insurer will pay for the referred services!
3. Keep your insurance ID card handy. Don’t hesitate to pick up the phone and call the number on your insurance ID card for assistance in understanding any part of your policy you don’t understand. Call your insurer if you get a bill, a referral, an explanation of benefits form or other document you don’t understand. Other sources of assistance include your insurance agent and your human resources department if your employer provides your health insurance. The Bureau is always available to assist as well, and can be reached from 8:00 A.M-5:00 P.M. through our in-state 800 #, 1-800-300-5000.
4. Keep good files. Know where to find your policy or benefits booklet. Keep copies of any health insurance related documents you receive from your insurer, agent, human resources department or health care provider in a file you can easily locate. If you call your insurer, agent, human resources department or health care provider regarding an insurance issue, keep a pad of paper handy. Ask for the name of the person you are talking to and make a note of what you discussed, being sure to indicate the date and time of your call.
5. Know your rights. You have a right to receive a response to a request for authorization of services within two working days. If your insurer denies a requested service on the grounds that the requested service is not medically necessary, your insurer must send both you and your provider a written notice explaining why it believes the requested service is not medically necessary. The notice must advise you of your right to obtain any clinical criteria or information relied upon by the insurer in reaching its decision. The notice must also advise you of your right to appeal the decision. By law you are entitled to appeal any health insurer decision you disagree with (not just medical necessity coverage denials). If you lose your appeal, your insurer must sent you a written notice identifying the names and credentials of the persons who made the decision and explaining the reasons for the decision. You have the right to the information relied upon by your insurer in arriving at their decision. You have the right to a second level appeal. You have a right to attend and be represented at any second level appeal. If you are not satisfied, you have the right to complain to the Bureau of Insurance.

save money on life insurance

Top Tips:
1. Buy when you're youngMany people may feel they don't need life insurance when they are young. While your financial needs may be lower at a younger age, the rates are also substantially cheaper when you're young. Remember, the goal is to cover your primary assets (like your salary and house) so that if something were to happen to you, your beneficiaries would be able to persevere financially. The best advice is to lock in as much protection at a young age while your health and prices are still good.
2. Your “half” birthday could be costlyWhile some companies raise their prices based on your actual age, most companies increase the price of their policies six months before your birthday. It's a term called “Age Nearest” in the industry, and that half-year price increase could really add up over a 20-year term policy. As above, the quicker you purchase your policy the better.
3. Select the right length of coverageEveryone has different needs, and not one size fits all when it comes to term life insurance. While it may make sense for people in their 30s and 40s to secure a 20-year term length, a 10-year term might be more appropriate for someone nearing retirement. People who are trying to quit smoking, for example, might be best suited purchasing a shorter term (and then replacing it with a longer term policy when they qualify for non-tobacco prices). Lastly, individuals who have 30-year mortgages might want to consider a 30-year term to ensure that the house is protected throughout the period of the loan.
4. Check for price breaksCompanies often offer “price breaks” at certain coverage amounts (e.g., $250,000 vs. $225,000). The truth is that many people can actually pay less money for more coverage. Check how little your prices increase when you increase coverage to $250,000, $500,000, or $1,000,000.
5. Buy the right amount of coverageMany agents may try to sell you more coverage than you need. The purpose of life insurance is to “indemnify” (replace financial loss), and what most people should be looking for is income replacement for their beneficiaries. Independent financial planners recommend the following rule of thumb: purchase an amount of coverage equal to 6-10 times your annual gross income.
6. The right hobby with the wrong company could cost youPeople who participate in high-risk sports or activities (such as hang-gliding, skydiving, mountain climbing, scuba diving, and racing), or even those who like to have an occasional cigar could very well pay more money if they don't pick the right company. Every company looks at risk factors differently and some are more liberal in certain areas than others. Speak with a licensed insurance expert and make sure they have all the underwriting criteria at their disposal and match you with the right company.
7. Work policies aren't always the best dealWhile purchasing a life insurance policy through your employer is convenient, it may not be the best deal available to you. Work policies are often based on a composite profile of the employees you work with, many of whom may be less healthy than you, or have other underwriting factors that might drive up rates. These type of policies also expire if/when you leave the company. Inexpensive term life insurance polices that cover your dependents until they can live comfortably on their own are often a better alternative.
8. Check out your payment/billing optionsMany life insurance companies offer discounts to consumers who pay their premiums annually, or who pay monthly by electronic funds transfer (EFT).
9. Review your policy oftenDo a review of your life insurance policy a minimum of every three years, if not more often. Rates may be lower, and your circumstances may have changed, necessitating more or less protection. If you are replacing a policy, make sure you allow enough time to get your new policy in place so coverages won't overlap or lapse.
10. Don't overspend on protectionTerm life insurance is the most affordable and cost-effective pure protection available, and it is typically much less expensive than a comparable whole life policy. The old axiom still rings true: “Buy Term and invest the difference.”

LONG TERM CARE ANNUITY

Whoah - Now I found something to talk about.
I have access to a great annuity that actually combines long term care insurance with it. Lots of folks see the need for long term care insurance, but don't need one more monthly bill. Older people find that it gets very expensive too. A lot of times the rates are only gauranteed for 10 years and the nice people get a big surprise on the decade anniversary date. UGHH.

...or let's say a client has some health issues which would make it difficult to qualify for regular long term care insurance - or let's say that client would only qualify with a very high premium.....

So there are two ways to look at an annuity to solve this problem.

1. Annuity with LTC insurance built in. The annuity has a guaranteed interest rate, great returns, plus builds in LONG TERM CARE INSURANCE. If you never need the LTC (and I hope you don't), you haven't just thrown you money away. You still have your investment. It's great, easy to qualify for medically (some health questions - but fairly easy issue and designed for middle aged to seniors), and it makes sense.

THE DISAD? You need a higher minimum to get in: Usually about 37,500 or so. That's still below the minimum average for annuity sales, but it makes it tougher for middle class seniors to kick start it.

2. Annuity with LTC Waiver - Now, these are common, and still great. The principle is guaranteed - usually with interest, and they have been performing great. The good ones have no upfront load fees, but they do try to keep people in with surrender charges. THE THING IS - surrender charges are waived if you need long term care.

The minimums are much lower - and some can be started with 5 - 10 thousand dollars, putting them in the reach of lower income seniors who would like some sort of a safety net in case they need long term care money.

If you are interested in Annuities, especially with long term care protection, AND YOU LIVE IN TEXAS - CONTACT ME AT:
myfreeforum@yahoo.com

I will tell you about annuities!

Pregnant but cannot get insurance or Medicaid?

I get calls 3 or 4 times a week from women (or their husband/boyfriend) who are pregnant. These women either do not have health insurance - or their health insurance does not cover many aspects of pregnancy. This is a tough situation.

Here's the advice I give out on the phone.
1. Try your state medicaid office - Income limits are raised a little for HIV positive people, pregnant women, and some other situations. Find Out.
Here's a very good website I found on this issue: http://womanshealth.gov/hiv/financial.cfm

IF YOU CANNOT GET MEDICAID.....
2. I have helped people sign up for a self-directed-health care plan. THIS IS NOT HEALTH INSURANCE - I post that everywhere and still the people call asking for health insurance when they are pregnant. I CANNOT HELP YOU. I don't know if anybody can - maybe somebody can - but I doubt it. Here in Texas (and probably elsewhere) no private company will pick up a pregnant lady. That's it. End of story. They won't even pick up the family of a pregnant lady.

I AM NOT DEFENDING THIS - I AM JUST STATING IT - so please don't contact me and ask me for health insurance when you are pregnant. Heck, I'd love to sell insurance to everybody - but the insurance companies have rules - and I must abide by them.

So now that I've finished that little rant, I suggest you try this:
http://www.ahco.biz/19806 - It is a company called AHCO, and the program is called Maternity Card. Now I have clients who have used it - some have no health insurance, and some have health insurance - but with deductibles, etc. - and they say it helps them.

--- DO NOT CALL THE NUMBER ON THE SITE - Just click ENROLL NOW
-- ON THE NEXT PAGE, CLICK MATERNITY CARD ---
-- FILL OUT THE FORM WITH YOUR CONTACT INFO - PREFERABLE NAME, PHONE NUMBER, and YOUR ZIP CODE - You can also include contact info.

THE COMPANY WILL CONTACT YOU WITHIN 24 HOURS ON A BUSINESS DAY - M-F

Sorry to write all in caps, but calling me is pointless.

Thanks!

free prescription drug card

If you are looking for some help with drug and prescription costs, I have a site that helps with a free card giveaway - Drug Card AmericaYou can use it at Wal-Mart, Walgreens, and tons of other major stores. It will help you get your prescriptions at cheaper prices, and it's free!Sign Up!

Some clients even have health insurance - but that insurance may not cover prescriptions, or it may have a high deductible on brand names - this should give a little more help - and the company - Drug Card America - does not charge for the service.