In a Feb. 6 special report on the U.S. P&C industry’s 2011 results, Best says $44.1 billion in catastrophe losses for the year helped drive net income down 49.2 percent to $21.9 billion. In 2010, industry net income was $43.1 billion and catastrophe losses totaled $19.6 billion……  Read More

When You Begin Shopping for Long Term Care Policies

Health, life and disability insurance won’t pay for nursing home care. Medicare will cover very little. Long-term care insurance will. Long-term care usually involves non-medical help with daily tasks like bathing and dressing.

Those of us who do not want the government, through Medicaid, to choose our nursing care home; having a long-term care insurance policy is a good option. The premiums for long-term care insurance are not nearly as costly as the average $100,000 out-of-pocket per year cost for long-term nursing home care. Long-term care insurance allows individuals to choose their nursing home care facility and the amount of care they desire.

Comparison-shopping for long-term care insurance is encouraged. Depending on the desired level of care, and age at the time of purchase, the policy and annual premiums can range from $1,000 to $6,000. Premiums increase as we age and as our health starts to wane. Buying long-term care insurance while in our 50’s can lead to a lower rate throughout the entirety of the policy.

When do Long Term Care Benefits Start?

Once a long-term care policy has been purchased, benefits become available, typically, after the following criteria have been met:

1. You are unable to perform two of six basic activities of daily living (such as bathing or dressing), or you show signs of severe cognitive impairment, such as those associated with dementia.
2. Your doctor or other health professional certifies that your condition is expected to last at least 90 days.
3. You pay for long-term care services for the number of days in your waiting period.

Then, depending on the beneficiary’s condition and terms of the policy, care proceeds through several stages.

• Skilled care. This is medically necessary care provided by licensed professionals, such as nurses and therapists, working under the supervision of a doctor.
• Intermediate care. This also requires supervision by a physician and skilled nursing care, but it is needed only intermittently.
• Custodial care. This covers nursing home services. Benefits cover mainly room and board plus payments for assistance with the activities of daily living.
• Home health care. Depending on the policy, benefits for home health care may range from homemaking and chore services to occupational therapy and laboratory services.

Long Term Care Benefit Period – How Long is Long Enough?

While shopping for your long-term care policy, understand that most people who have purchased long-term care policies wished they had purchased more coverage. One’s current budget and how a long-term care policy fits into it can be a challenging decision for many.

As you search for long-term care insurance you may consider at least a three-year benefit period, which would cover the average nursing home stay (which is about 650 days). You also may want to seek out a policy that covers care in a location suitable to your needs: at home; in an assisted living facility; in a nursing home.

What is the type of care you will want? What can you afford? A big decision when seeking long-term care insurance is to determine how big a daily benefit you need. Find out what the average daily costs are for care in your area according to the level of care you may require so that you do not fall short in the coverage you select. To do this check out prices for facilities in your area you would consider using. Then figure out how much of the bill you could afford by yourself.

Next you will want to know how the policy deductible is satisfied. A policy with a 90-day elimination period, for example, means you’re willing to pay out-of-pocket for the first 90 days of care. You may save money by finding a policy that will credit you for an entire week if you pay for care at least one day a week. Ask insurance carriers about this. To keep premiums manageable and limit out-of-pocket expense, you may consider a 60-day or 90-day waiting period.

Cost Protection and Age Forecasting for Long Term Care Insurance

It is also important to know if the carrier offers policy cost protection regarding inflation. Of course, you’ll want to make sure the policy purchased will stand the test of time and inflation, providing you with long-term daily care when you need it. The best inflation-protection coverage automatically increases your benefit amount by 5% compounded annually, keeping pace with the rising cost of health-care. Such policies are pricey, often doubling the cost of coverage, but your premiums will remain the same even as the benefit amount increases. It will also assure you protection as costs rise.

Again, it is important to purchase long-term care coverage that will adequately meet your needs in the years to come. Forecasting at age 50 what type of care you might require down the road can be difficult. Policies with future-purchase options allow you to buy additional coverage over time without medical screening. These plans typically start out costing half as much as policies that automatically increase your benefit amount. However, in some instances, these plans can also end up being more expensive because rates are often determined by your age at time of purchase.

Please note if the policy you are considering excludes any medical conditions. Some long-term care policies carry exclusions for preexisting conditions, which usually won’t be covered for six months or a year after a policy is in force. Pass up any policy that excludes “mental disorders” unless the seller satisfies you that organically based mental disease is covered.

Download the PDF… this will take you to http://nahu.org

2012: Accountable Care Organizations and other programs help doctors and health care providers work together to deliver better care.

2014: All Americans will have access to affordable health insurance options

Read More…

The new legislation will not be identical to H.R. 1206, but instead will include minor targeted improvements based on the market’s response to the MLR requirements over the past year. The lead co-sponsors of H.R. 1206, Congressmen Mike Rogers (R-MI) and John Barrow (D-GA), have indicated their support for the updated Senate measure.

The announcement was extremely well timed, as during the same meeting the Director of the Center for Consumer Information and Insurance Oversight at the Centers for Medicare and Medicaid Services (CMS), Steve Larsen, announced that the agency has concluded that there is no legal way that it could provide regulatory relief to agents and brokers on the MLR. However, he went on to tell meeting attendees that HHS believes “the success of exchanges depends on a strong and active role from agents and brokers.”

NAHU has always believed that a legislative solution would the most permanent and effective way of solving the economic problems that the MLR is causing for both insurance agents and brokers and health insurance consumers nationwide. We are thrilled that we will have bipartisan bills in both chambers of Congress in the near-term future, and we look forward towards their expedient passage.

Before the start of Capitol Conference, H.R. 1206 had 151 bipartisan co-sponsors. Due to the amazing work NAHU members did pounding the pavement and visiting Capitol Hill offices this week, we believe we will soon add at least 20 more. We also believe that our members will convince many more senators to support the Senate complement to H.R. 1206 from the get-go. If you would like to help, please contact your representative and senators today. Ask your representatives to sign on to H.R. 1206 if they haven’t already, and ask your senators to express their support for the efforts of Senators Landrieu, Isakson and Nelson by becoming original co-sponsors to their measure.

The majority (56%) of employers say they are likely to continue to offer employer-sponsored health insurance after the Patient Protection and Affordable Care Act largely goes into effect in 2014, according to a new survey conducted by GfK Custom Research North America… …. Read More

The Patient Protection and Affordable Care Act requires employers to report the aggregate cost of employer-sponsored health coverage on the Forms W-2 of its employees. In March 2011, the Internal Revenue Service issued interim guidance on the Form W-2 informational reporting requirement in the form of 31 Q&As. Recently, the Internal Revenue Service revised this interim guidance by issuing Notice 2012-9, which clarifies several of the original Q&As and adds some Q&As.

Read More…..

It is your time, thoughts, prayers and generosity that allow us serve children who need our help.  Thank you for your donation of juice boxes for our Fall Fun Fundraiser benefiting our children.  We had a total of 150 preschoolers enjoy the activities!

We have served a total of 47 boys and 35 girls so far this year.  Currently there are 21 total boys and 9 girls residing at our facility, and your donations are making a tremendous impact on each child.

Thank you for helping us provide a safe haven for children.  If we help them now, their chances of becoming positive contributors  to society are much greater.  Let’s give them every opportunity to have a good, happy, safe, and healthy life.

Your continued support of our children is greatly appreciated.

Sincerely,

Melanie Harper
Administrative Assistant
Lancaster Children’s Home, Inc.

If you or your company is currently researching employee benefits health insurance in Rock Hill SC or the surrounding areas, then we welcome you to the Carolinas Insurance & Investment Group. We hope we can provide some helpful information for you as you consider the myriad options that exist before you.

If you would like to speak with someone who can provide you with a tailor-made employee health benefits, employee insurance benefits, or other employee benefits, that match your company’s need and budget, then feel free to call us now and we can begin the process.

Because there are so many options for you to choose from, and so many details involved in the coverage, how each company handles policy claims, pay out information, scope of coverage, and more, we will help you understand each benefit thoroughly. This process you undertake on behalf of your company can be daunting unless you are an insurance professional or have been around long enough to know how to best go about helping identify, then purchase, an employee insurance benefits program in Rock Hill.

We also recognize how challenging your job can be when there isn’t one magical employee benefits program in Rock Hill that will perfectly suit each employee’s total need. There is pressure on you to meet everyone’s demands. Let us take on some of your burden by working with you to identify predominant employee benefits, and work from there, scaling down so that you can create a manageable presentation, complete with all the necessary information your company will need in making the best possible decision for your employees.

In your search, you will want to make sure that the company you hire to provide you with a variety of employee benefits, including employee health benefits in Rock Hill, has a track record in their community, has earned recognition, and who provides more businesses with employee benefits in York County, South Carolina and the Tri-County area than any other company. Moreover, we are an agile company who quickly responds to your needs from the time we begin a relationship, onward. We are staffed appropriately to guide and serve you as our client.

We understand your challenges and needs, and we’ll help you find solutions. Contact a Carolinas Insurance & Investment Group professional today to help you in your search for employee benefits in Rock Hill and the surrounding areas.

If you are seeking home owners insurance in Rock Hill SC and need the right coverage at the right price, then Carolinas Insurance & Investment Group is the insurance company to talk to.

With us as your home owner insurance providers you get variety, options, savings, and personalized service. Your needs are unique to you, so one of our professionals will discuss your home, and all the surrounding matters with you, and then go out to the marketplace to see which insurers can offer you the best dwelling insurance option. Once attained, you will be briefed on what each policy entails (if two or more policies possibly fit), and give you the option to choose.

Of course, if you have a multi-line policy through Carolinas Insurance & Investment Group, you can save even more money. Speak to us about other places you can save as a result of owning policies through us.

When looking for house insurance, there are a few common things to keep in mind to help you make the best choice possible for your home.

1) Make sure you are fully covered – This involves covering your liability to others, the structure of your house, your belongings, and any living expenses you may need if forced to vacate the premises.

2) Take an inventory – Make a list of everything in your home and on your property you consider essential for coverage. Some people also take stills or video of their belongings as well.

3) Understand the claims’ policy – Execution of a policy that looks similar to another may actually be handled very differently. Know how any prospective policy’s procedures are, and make sure you understand how they pay off.

4) Inflation – Keep pace with it by having your policy checked now to make sure that what was once insured for $120,000 wouldn’t now cost you $150,000 to replace, leaving you with $30,000 in out of pocket expenses before you consider living expenses.

5) Life changing event – If you’ve just been married, undergone a divorce, are a widow, a first time home owner, just added a new kid or one just moved out, be sure to have this information available so your policy will adapt to your changing life.

When looking for home owners insurance in Rock Hill SC or surrounding areas, make sure you have options when talking to an insurance professional. Your home insurance has to fit you right to properly protect you, your family, visitors, and your home.

With us as your home owner insurance provider you get variety, options, savings, and personalized service. Your needs are unique to you, so one of our professionals will discuss your home, and all the surrounding matters with you, and then go out to the marketplace to see which insurers can offer you the best dwelling insurance option. Once attained, you will be briefed on what each policy entails (if two or more policies possibly fit), and give you the option to choose.

Of course, if you have a multi-line policy through Carolinas Insurance & Investment Group, you can save even more money. Speak to us about other places you can save as a result of owning policies through us.

When looking for home insurance, there are a few common things to keep in mind to help you make the best choice possible for your home.

1) Make sure you are fully covered – This involves covering your liability to others, the structure of your house, your belongings, and any living expenses you may need if forced to vacate the premises.

2) Take an inventory – Make a list of everything in your home and on your property you consider essential for coverage. Some people also take stills or video of their belongings as well.

3) Understand the claims’ policy – Execution of a policy that looks similar to another may actually be handled very differently. Know how any prospective policy’s procedures are, and make sure you understand how they pay off.

4) Inflation – Keep pace with it by having your policy checked now to make sure that what was once insured for $120,000 wouldn’t now cost you $150,000 to replace, leaving you with $30,000 in out of pocket expenses before you consider living expenses.

5) Life changing event – If you’ve just been married, undergone a divorce, are a widow, a first time home owner, just added a new kid or one just moved out, be sure to have this information available so your policy will adapt to your changing life.

When looking for home owners insurance in Rock Hill SC or surrounding areas, make sure you have options when talking to an insurance professional. Your home insurance has to fit you right to properly protect you, your family, visitors, and your home.

If you would like to speak with someone who can provide you with a tailor-made employee health benefits, employee insurance benefits, or other employee benefits, that match your company’s need and budget, then feel free to call us now and we can begin the process.

Because there are so many options for you to choose from, and so many details involved in the coverage, how each company handles policy claims, pay out information, scope of coverage, and more, we will help you understand each benefit thoroughly. This process you undertake on behalf of your company can be daunting unless you are an insurance professional or have been around long enough to know how to best go about helping identify, then purchase, an employee insurance benefits program in Rock Hill.

We also recognize how challenging your job can be when there isn’t one magical employee benefits program in Rock Hill that will perfectly suit each employee’s total need. There is pressure on you to meet everyone’s demands. Let us take on some of your burden by working with you to identify predominant employee benefits, and work from there, scaling down so that you can create a manageable presentation, complete with all the necessary information your company will need in making the best possible decision for your employees.

In your search, you will want to make sure that the company you hire to provide you with a variety of employee benefits, including employee health benefits in Rock Hill, has a track record in their community, has earned recognition, and who provides more businesses with employee benefits in York County, South Carolina and the Tri-County area than any other company. Moreover, we are an agile company who quickly responds to your needs from the time we begin a relationship, onward. We are staffed appropriately to guide and serve you as our client.

We understand your challenges and needs, and we’ll help you find solutions. Contact a Carolinas Insurance & Investment Group professional today to help you in your search for employee benefits in Rock Hill and the surrounding areas.

People are looking for certain answers regarding how Obamacare will affect short term disability care coverage, costs, and claims, or how their premiums are going up, and what happens after the claim duration ends?

“Be aware, however, that even long-term disability may not last as long as you expect. The typical length of a disability claim is two-and-a-half years. Insurers will do whatever they can in terms of rehabilitation and job training, to move beneficiaries back to work. And though Cadillac policies (and most privately-sold ones) offers “own occupation” coverage — meaning that you will receive benefits unless you’re able to go back to work in your chosen field — many employer-paid plans only cover “own occupation” benefits for the first two years. After that you’ll be expected to try to find work in any field.”

]]> http://cignetwork.com/education/are-short-term-disability-insurance-claims-taxable/feed/ 0 http://cignetwork.com/staff/watts/ http://cignetwork.com/staff/watts/#comments Tue, 15 Nov 2011 18:57:07 +0000 admin http://cignetwork.com/?p=366
Beginning his career in 1990 focusing on Insurance, Employee Benefit’s and Financial planning, Watts and his staff have made a conscious decision to provide their clients professional advice and personal value added service that separates them from their competition.

Watts holds a Bachelor of Science degree from Winthrop University, and has continued his education by preparing for his Certified Financial Planner (CFP) and Registered Employee Benefits Consultant (REBC) Designations.

As a member of the prestigious Million Dollar Round Table (MDRT) and the Leading Producers Round Table (LPRT),Watts has been recognized for his outstanding sales achievements.  He has also been a recipient of the National Quality Award and National Sales Achievement Awards, which recognizes his unwavering commitment to client service.  In 1994, he was also awarded Winthrop University’s Alumni Association Distinguished Service Award.

As a native of Rock Hill, Watts is active in the local community by serving as the past Chair of the Upper Palmetto YMCA Board of Directors, past President & Program Chair of the Charlotte Association of Health Underwriters-“America’s Benefit Specialists”, member of Columbia Health Underwriters and a member of the York County Chamber Workforce Development Task Force.  Past member of the Westminster Catawba Christian School Capital Campaign Cabinet and volunteered as a Probation and Parole Officer with the Department of Juvenile Justice.  He is also past president of the Rock Hill Kiwanis Club,Winthrop University’s Board of Trustees serving under Governors Beasley and Hodges, Communities and Schools Board of Directors & The Children’s Attention Home Board of Directors for eight (8) years.

Watts has two exceptional children, Olivia who attends Clemson and Ansel who attends Northwestern High School.