Get Ready to Shop

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Healthcare Changes are near…..

In one week, Connect for Health Colorado will open for business, offering Coloradans a new way to shop, compare and select new health insurance plans that will begin providing coverage as early as January 1.

Starting October 1, you can go online and learn about your options. You’ll have a wide range of choices at competitive prices. You can compare health plan features and prices side-by-side, identify your potential cost savings based on income, and sign up for health plans. Small business owners will be able to set up group plans for their employees.  Brokers, agents, Health Coverage Guides and the Customer Service Center are all available to help guide you through the process at no charge.

Many Coloradans will be eligible, based on income, for new cost savings – primarily through a new kind of tax credit from the federal government – to reduce the cost of private health insurance. Many Coloradans will also be newly eligible for Medicaid in 2014 because of a new state law that expands eligibility based on income.

You can buy health insurance through our Marketplace and then claim the tax credit, if eligible, when you file taxes in 2015. The IRS will determine the amount of the tax credit and apply it to a refund or lower tax liability.

If you want to apply for an advance premium tax credit (applied immediately to lower the monthly premium), you’ll need to work with our Customer Service Center to apply.  Advance tax credits are only available to customers who have been denied Medicaid, so the first step is to fill out an application for Medicaid. The application can be done online, over the phone, on paper, or supported by our trained representatives. Once you are denied Medicaid, we’ll ask you some additional questions about your tax household and anticipated income to determine eligibility for tax credits. In November, we anticipate that customers who want to move through the process without the help of our support network will be able to do so by themselves.

We’ll offer many resources – including a mobile application – to help you explore your options. You can call our Customer Service Center, go to an Assistance Site in your community, or get advice from a certified agent or broker. We’ll support you through each step in the process to make sure you’ve completed enrollment by December 15 to have your coverage start January 1, 2014. And Coloradans who miss that window will have up to the end of March 2014 to shop and enroll. We’re excited to offer this service to help you protect your health and your finances.

Long’s Insurance Agency is a certified broker and has taken extensive training in the new healthcare act reform.  Contact us today and we would be happy to help you navigate through these changes.

Are you Part of the 98%?

A recent survey showed that 98% of the consumers questioned did not have enough life insurance to replace their lifetime income, although one-third cited income replacement as their most important consideration when buying life insurance.

Couple

According to a survey by Nationwide Financial, almost no consumers who are married, partnered or have dependents had enough life insurance to replace their income. The survey showed that 98% of the consumers questioned did not have enough insurance to replace their lifetime income.

The average consumer surveyed will earn $1.5 million in a lifetime and has $300,000 in life insurance coverage. This would replace 16% of they will earn before retirement, even though 33% of those surveyed said their most important consideration when purchasing life insurance was replacing their income.

The survey found that consumers are willing to pay $99 a month on average to insure their family. For this amount, a healthy 35-year-old man can purchase a 20-year term life policy worth more than $2.3 million, and a healthy 35-year-old woman can purchase more than $2.6 million in life insurance, but only 29% of those surveyed believed they could afford enough life insurance to replace their income.

Two-thirds of those who have life insurance are “somewhat” or “very certain” they have enough insurance to replace the income they or their spouse or partner would make during the remainder of their working careers. However, when asked how long their family could maintain its standard of living if a breadwinner died, 62% say they either don’t know, or think they could do so for just four years or less.

And while 35% of those surveyed worked with an insurance agent or financial advisor to figure out how much life insurance coverage they need, 20% say they simply guessed how much coverage they needed.

If you are unsure as to the proper amount of life insurance for you, use either the Life Insurance Needs Calculator or the Human Life Value Calculator to determine what is appropriate for you. It’s Life Insurance Awareness Month—a great time to make sure you have enough coverage.

Contact Long’s Insurance Agency today and discuss your options.  We will develop a plan customized for your personal situation.  Call us Today!!

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Food for Thought

Thank YOu noteCommunicate gratitude in writing….

Harvey Mackay talks in his book about ‘short notes that yield long results’.  He comments on how few people send follow-up notes to customers, even those who have made a major purchase.  Have you received a thank-you note from a business lately?  Mackay cites many successful people who constantly send out short but effective notes with message like ” I want you to know how much I enjoyed our meeting/your gift/your hospitality” or “Congratulations on your new house/car/tennis trophy.”

The moral of the story:  Don’t hesitate to let people know that you appreciate them, and do it in writing.  Don’t worry about format.  Often a handwritten note works fine. Just Do It.

Source: 51 Ways to Save Your Job