Free Webinar Presentations

I’ve partnered with  my client, A.D. Banker and Company, to develop and present a series of free webinars to preview new insurance continuing education courses, many of which I wrote.

The first of the webinars, which I presented on January 24th, was a preview of the two-hour insurance continuing education course, The PPACA: What Consumers Need to Know, which discusses highlights of the Patient Protection and Affordable Care Act–more commonly referred to as the Affordable Care Act.  We’ve scheduled repeat performances at 1:00 p.m. on Thursday, February 7th and Thursday, February 21st.

In March, I’ll presenting webinars on the subject of insurance fraud, the first of which is scheduled for 1:00 p.m. on Thursday, March 7th.  More details about these individual webinars is contained in my Events Calendar, which appears at the bottom of your screen.

How Much do YOU Know about Car Accidents and Renting Replacement Vehicles?

I’m proud to announce that my magazine article, Rental Reimbursement Coverage:  Minor Coverage with Major Impact is the featured article in the Fall 2012 issue of the  national trade magazine, Today’s Insurance Professional.  It’s actually been so well-received, I’m receiving reprint requests!

I was asked to write the article by the International Association of Insurance Professionals after being contracted by a client to develop and write several insurance education courses on the topic of Rental Reimbursement insurance–which I then presented around the country and at two of the associations’ annual conventions.

Although the article was written with insurance professionals as its intended audience, consumers will certainly benefit from ” tips” about what the coverage provides and how both personal and business auto policies seldom offer “good enough” rental coverage without the addition of an endorsement.

Care to share any of your stories about car accidents and renting replacement vehicles?

What the Average American DOESN’T Know about the Affordable Care Act – Part II

Continuing from the blog post on Monday, here are few of the major provisions of the PPACA that will go into effect beginning in January 2014.

Most Americans will be required to be covered by health insurance or pay a penalty.  This is what is referred to as the individual mandate.   The following Americans will NOT be subject to a penalty if they aren’t covered by health insurance:

  • Members of a religion opposed to acceptance of health care benefits
  • Undocumented immigrants
  • Individuals serving time in jail
  • Members of an Indian tribe
  • Individuals with household income that doesn’t require the filing of a tax return
  • Individuals who must pay more than 8% of their income for health insurance—after application of any employer contributions and tax credits

A few facts about penalties:

  • They aren’t imposed until an individual has been uninsured for 90 days
  • Penalties are charged per person, with a family maximum, OR as a percentage of family income—whichever is more
  • Penalties, per person, per adult (children’s penalties are one-half the adult penalty) will be:  In 2014:  $95; in 2015:  $325; in 2016:  $695; and after 2016:  adjusted by annual cost of living increases
  • Penalties as a percentage of family income:  In 2014:  1%; in 2015:  2%; and in 2016:  2.5%

The following eligibility and rating restrictions will apply:

  • Coverage cannot be denied or non-renewed because of health status
  • Pre-existing conditions can’t be excluded
  • Premium rates may only be based on:  age, state of residence, individual or family enrollment, and tobacco use
  • Coverage cannot be cancelled or denied because of the enrollee’s participation in clinical trials for cancer or other life-threatening conditions

I’ll continue with more scintillating info on Friday!  So, what do you think so far?  Did you know these facts?  How do you feel about them?  How do you think they’ll affect you and your family?

What You Probably Don’t Know About the Affordable Care Act – Part I

During the past couple of years, I’ve written numerous insurance texts that are either devoted entirely to the Affordable Care Act or that contain chapters about it.  Formally known as the Patient Protection and Affordable Care Act of 2010, the media refers to this recent federal legislation as Obamacare.

I won’t bore you with details about provisions you already know, like the individual mandate and employer requirements going into effect on January 1, 2014.  I will provide you with lesser-known details that will either affect you directly or affect someone you know.  This first blog post discusses some changes that will go into effect in 2013.

(By the way, I have the text of the PPACA on my computer in PDF format; although I haven’t read all 974 pages of it, I have read significant portions of it and have conducted extensive research about it.)

As a warm-up, here are some of the provisions of the PPACA that have already been put into place:

  • Dependent coverage for adult children must now be provided on their parents’ health policies until age 26 (subject to requirements for being a “dependent”)
  • Certain types of preventive care is no longer subject to deductibles and copayments, such as mammograms and colonoscopies
  • Lifetime benefits have been eliminated
  • Annual benefits limits have been restricted
  • Pre-existing conditions limits may not be imposed upon children under age 19

Beginning in 2013, tax-deductibility of medical expenses will change.  At present, taxpayers are permitted to itemize and deduct medical expenses if those expenses exceed 7.5% of the taxpayer’s adjusted gross income.  This means if you earn $50,000 per year, you may itemize and deduct your medical expenses that exceed $3,750.  In 2013, the threshold increases to 10%.  So, if you earn $50,000 in 2013, you may only itemize and deduct your medical expenses that exceed $5,000.

If a person has a flexible spending account, the maximum contribution will be $2,500 beginning in 2013.  Up until that time, there has been no limit to contributions to this tax-advantaged plan that allows employees to designate a portion of their annual earnings to pay for qualified medical expenses.  (These funds are not taxed if used for qualified medical expenses.)

Also beginning in 2013, the Medicare tax rate for individuals who earn more than $200,000 per year will increase.  The same holds true for married taxpayers filing jointly if their combined wages are in excess of $250,000.  The increased tax rate applies to wages in excess of the thresholds.  These same individuals will also pay a higher Medicare tax rate on their investment income.

So, did you know these facts?  What are your thoughts?

Link to the text of the PPACA

Link to the Henry J. Kaiser Family Foundation site about the PPACA

Link to the U.S. Department of HHS about the PPACA

LifeHealthPro’s list of articles about the PPACA

Link to Healthcare Reform Article by the New York Times

 

What Does an Insurance CE Seminar Look Like?

Thought I’d share with you some of the photos taken in St. Louis at the world headquarters of Enterprise Holdings, the people who rent cars under the Enterprise, Alamo, and National brands.

As one of my clients, Enterprise Holdings hires me to write insurance and training courses and to present seminars, webinars, and other training workshops.  Earlier this week, we collaborated for the benefit of American Family Insurance and had a terrific time!  (The breakfast burrito was excellent, as were the chocolate chip cookies.)

 The gentleman in the photo featured above is Don Ross, Vice Chairman of Enterprise Holdings.  He introduced me to the American Family claims professionals and agents who travelled from across the country to attend the two training sessions I conducted yesterday … and earned this place of honor  by telling me I didn’t need lipstick to look beautiful.  Sigh.  Now if he could only pass his people skills along to a few other people I know…

Many thanks to Mary M.  for always making my trips to St. Louis special.  Thanks, also, to Donna H. for providing me with these photos and to Keith H. for being a wonderful host.

Does YOUR auto policy pay for a rental car?

Here are some facts about auto insurance losses in the United States:

  • Approximately 1 in 8 drivers will be involved in an accident in a given year (National Safety Council)
  • Nationwide in 2005, 2 cars were stolen every minute (Better Business Bureau)
  • Speed is one of the most common factors causing car wrecks (National Highway Traffic Safety Administration)
  • The highest incidence of claim frequency and severity among vehicles of model year 2007, 2008, and 2009 occurred with very large luxury sport utility vehicles (Highway Loss Data Institute)
  • Only 75% of all costs related to car accidents are covered by insurance (Insurance Institute for Highway Safety)
  • After an accident, the average car is in the repair shop for nearly 2 weeks
  • Nationwide, 19% of all motor vehicles involved in accidents are uninsured (Insurance Institute for Highway Safety)

So let me ask you this: if you can’t drive your car after it’s been involved in a wreck–or struck by a tree, or stolen, or vandalized–what are you going to do? Hitchhike to work? Take a cab? Inconvenience friends and/or family? Rent a car?

If you rent a car, who’s going to pay for it–you or your insurance company?

On average, the annual cost to buy rental reimbursement coverage on your auto policy is less than the cost to rent a car for two days.

Want to know more? Just ask!