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Access to affordable health insurance is crucial for maintaining the income security
of retirees.http://www.americanprogress.org/kf/healthinsuranceinfo.pdf.lt
health insurance have caused many employers to reduce or eliminate employer-sponsored
retirement health insurance. At a time when adequate, affordable, health insurance
for retirees is being threatened by rising costs, Health Insurance Coverage in
Retirement examines new data on medical coverage in retirement and raises serious
concerns about the future retirement security of the elderly and near-elderly.
We are especially grateful to Beth Almeida, Cary Burnell, Todd Elder, Teresa Ghilarducci,
Neil Gladstein, Su-san Ingargiola, Jeanne Lambrew, Shaun O’Brien, Ian Spatz,
Terri Shaw, and Steve Woodbury for sharing their insights on the issues associated
with retiree health insurance. 11 Retirees suffer from declining access to affordable
employer-sponsored insurance 17 Employers are the primary source of health insurance,
but with large gaps Dr. Wenger’s research focuses on social insurance and
labor mar-kets, with particular attention paid to older workers and workers in
nonstandard work arrangements. Specifically, health insurance has become more
costly at the same time that costs for medical care have skyrocketed. Access to
affordable health insurance is crucial for maintaining the retirement income security
of many retirees. Prescription drug coverage is declining for most of the 55-and-over
population, and the gap between health insurance and prescription drug coverage
increases with age and retirement. Because early retirees do not qualify for Medicare,
and because Medicare does not include certain benefits such as ... JOB Insurance producers assist individuals or companies in selecting insurance coverage to meet their needs; compile lists of prospective clients to provide leads for additional business; contact prospects and explain features and merits of policies offered; calculate and quote premium rates for policies; and, call on policyholders to deliver and explain policies and to suggest additions and/or changes.http://www.iowaworkforce.org/lmi/publications/licocc/insuranceproducer.pdf. Depending upon the arrangement with an insurance company, they may collect premiums from policyholders to remit to the company and maintain a record of payments. Producers usually sell one or more of the three basic types of insurance: life, property/casualty, or health. An increasing number of insurance producers are also licensed to sell mutual funds, annuities, and other securities. Applicants must be at least 18 years of age and pass one or more of the appropriate examinations listed below. Non-residents can obtain an Iowa license but must first be licensed in their home state. For additional information on obtaining a non-resident license, contact the Iowa Division of Insurance. All insurance producers must meet a continuing education requirement of 36 hours per category every three years, to be completed December 31, just prior to their license expiration date. Testing is arranged by the exam service: Information and exam applications are contained in the Licensing Information Bulletin, which may be obtained from the test provider. They include: Life; Accident & Health; Personal Lines; Commercial Lines; Crop; Credit Life & Credit Accident & Health; Surety; Excess & Surplus Lines; Life, ... SHIIP is there to help when you deal with issues such as.... Making informed decisions about Medicare, Medicare supplement insurance and long-term care insurance. The decision to buy long-term care insurance is an important financial decision that should not be rushed. You can meet with a SHIIP health insurance counselor who can answer your questions and help you understand your choices. If you don't have dependents or heirs, you may consider using resources to pay for long-term care rather than buying insurance. Very elderly people should carefully consider the wisdom of purchasing long-term care insurance because of its cost. People usually buy long-term care insurance several years before they plan to use it. If a person you don't know tries to sell you insurance, ask to see his or her license. Today the policies are called long-term care insurance because they may cover different facilities and home and community-based services. One of the choices you will make when buying long-term care insurance is the amount it will pay for each day of care. Iowa insurance regulations require that in these situations you must be given options for retaining long-term care benefits. What about life insurance policies with long-term care riders - A long-term care rider that is part of a life insurance policy is treated like a separate long-term care policy and must meet the same requirements to be qualified. Group membership fee - If you join an organization for the sole purpose of buying insurance through the organization, the membership fee is part of the cost of having the insurance. Insurance companies are required to certify ... This decline in net premiums as a percentage of gross premiums is mainly due to a large share of unearned premiums of the insurance companies with other insurance and reinsurance companies and business entities.http://www.sbp.org.pk/publications/FSA-2004/Chapter_8.pdf. Moreover, with the anticipated privatization of its state-owned clients, it is expected that the share of assets of the state-owned insurance company will decrease substantially in the coming years and this shift in demand will be met by the private insurance suppliers (see Table 8.5). Similarly, Marine insurance also has a decreasing share in net premiums, whereas Motor insurance premiums have increased substantially primarily due to the easy availability of auto financing. The concept of life Insurance has evolved from a primary emphasis on conventional insurance protection to a relatively advanced form of a savings product. This was followed by the introduction of new insurance regulations by SECP in the form of Insurance Rules 2002 and the Code of Conduct for Surveyors and Loss adjusters. The combined share of individual life and group life business comprises 99 percent of the total gross premiums, whereas the other types of life insurance products such as pension, annuity, and accidental & health insurance are not so popular. Insurance amount payable on death whenever this may occur is termed as a whole-life insurance policy, whereas an insurance amount which is payable either on death or survival to the maturity date stated in the policy is defined as an endowment insurance policy. There are several features of the Postal Life Insurance business which distinguish it from other life insurance organizations. .. The Terms of Appointment for the Research Participation Programs require participants to have coverage under a health insurance plan.http://www.orau.gov/cdc/Forms/InsuranceApp.pdf. employee health insurance plan. Coverage for participants is limited to medical/health insurance and a prescription drug card. Participants are not eligible for dental or vision coverage or for the Flexible Benefits Plan. Each state has a list of medical providers (such as doctors and hospitals) that participate in the BCBS Blue Network P plan. See www.bcbst.com and enter your zip code for provider lists. You will receive the maximum coverage by using providers in the plan. If you elect to obtain health insurance coverage through ORAU/ORISE, you will be required to pay the full premium, which is currently $333.32 monthly for single coverage or $852.86 monthly for family coverage. In either case, no deduction for insurance will be made during the final month of your appointment unless you elect to continue coverage past the termination of your appointment. If you wish to participate in the ORAU/ORISE health insurance plan, please complete the enclosed application form and return it with the signed copy of your appointment letter. Do not fill in the name and address of the insurance company and the contract number on the Terms of Appointment; we will do that for you. Unless you notify us of your desire to cancel, the health insurance coverage will continue for the duration of your appointment. Please give 30 days notice via electronic mail if you wish to change your BCBST insurance coverage in any way: start, cancel, or change from individual to family coverage. Although ... Insurance brokers serve businesses and individuals seeking to purchase insurance, and they hold strict fiduciary duties to serve the best interests of their clients.. We were concerned that brokers were subject to conflicts of interest due to their receipt of contingent commissions and other hidden payments from certain insurance companies for steering client business to preferred insurers. Not only do insurance brokers receive contingent commissions to steer business, but many brokers, with the assistance and collusion of insurance companies, engage in systematic fraud and market manipulation in order to ensure that profitable and high volume business goes to a few selected insurance companies. Similar to the small investor on Wall Street or in mutual funds, the ordinary purchaser of insurance has no idea that the broker he selects is receiving hidden payments from insurance companies, that the advice he receives from the broker may be compromised, or that the market bids he sees may be illusory. We found that a small group of brokers and insurance companies essentially control the market, having created a network of interlocking connections and secret payments which ensure that the bulk of business goes to certain insurers and that profits remain high. ULR advises hundreds of employers in the selection of insurance and has placed insurance for four million U.S. workers. Summary of Investigation and Findings Many purchasers of insurance, whether corporations or individuals, use independent insurance brokers for assistance in sorting through the numerous insurance products available and to obtain the best available ... The remainder of the bill generally updates laws pertaining to insurance regulation in Alaska and to the authority of the director of insurance in this area.http://www.law.state.ak.us/pdf/opinions/883970086.pdf. The Act establishes minimum standards for all health care plans, including self-funded plans and group and individually insured plans to assure portability, availability, and renewability of health care insurance coverage. In particular, the federal Act protects portability and against losing insurance by placing restrictions on the scope and nature of preexisting conditions exclusions used by health care insurers. The federal reforms, which become effective July 1, 1997, necessitate various amendments to the insurance code (AS 21) to implement the minimum federal standards and to avoid federal enforcement of these reforms with respect to health care insurance plans in this state. Section 3 of the bill amends AS 21.06.085, which relates to uniform data and procedures for health claims, by changing the reference to "health insurer" to "health care insurer" to reflect new nomenclature that is being used to implement minimum federal standards relating to health care insurance. This new definition is consistent with the definition of "health insurance coverage" in the federal Act, which is narrower than Alaska's existing definition of health insurance. To that end, "health care insurance plan" is defined broadly in AS 21.54 to include all entities that transact health care insurance, but does not include limited benefit policies or supplemental coverages. Section 59 of the bill adds several new provisions to AS 21.54 relating to group health care insurance, all ... It is important for homeowners to be aware of the legal requirements regarding keeping their property safe for others and to know about liability insurance available to protect them.http://www.abanet.org/rppt/cmtes/rp/b4/NARRATIVE-HOMEOWNER-LIABILITY-INSURANCE.pdf. LIABILITY INSURANCE To protect yourself if someone is injured on your property, you need liability insurance coverage. Unless the type of injury suffered is excluded from the insurance policy, liability insurance will usually: 2. Pay the injured person for damages suffered up to the full amount of the insurance coverage; and Liability insurance is usually included in a "Homeowner's Policy of Insurance," which generally also provides insurance coverage for damage to your home. It is very important for homeowners to insure against damage to their home. The loss from damage or destruction to a house may cause great financial difficulty for a homeowner who does not have adequate insurance. PROPERTY INSURANCE Property insurance generally protects a homeowner against loss from damage due to events such as: All property insurance policies, however, do exclude coverage for certain types of losses described in the insurance policy. It should also be noted that most homeowner's insurance policies do not insure against risk of flood. This type of insurance policy may be available in your community through a federally subsidized insurance program. From time to time, you should review the various types of insurance coverage and the amounts of coverage appropriate for your home with an insurance agent. For more specific information on liability and property insurance, please contact an insurance agent. College students renting an off-campus apartment or house while away at school should consider purchasing renters insurance to protect their personal property, such as a computer, television, stereo, bicycle or furniture, in the event that it is damaged, destroyed or stolen.http://www.state.sd.us/drr2/reg/insurance/consumerinfo/RentersInsuranceforCollegeStudents.pdf. Even if a student is a dependent under his or her parent’s insurance, the student’s personal property, in many cases, is not covered if the student lives off campus. Parents should check their policy or contact their insurance agent to see if renters insurance is right for their son or daughter who is away at school. What is Renters Insurance? Renters insurance protects your personal property against damage or loss, and insures you in case someone is injured while on your property. Why Purchase Renters Insurance? If you live in a rented apartment, house or condominium, your landlord’s insurance doesn’t cover your personal property in the event that it is stolen or damaged as a result of a fire, theft or other unexpected circumstance. College students living in off-campus housing are ideal candidates for needing renters insurance, since many students bring thousands of dollars worth of personal items, such as electronics, a computer, textbooks, clothes, furniture, and a bicycle, with them to school. However, if a college student is under 26 years old, Shop for the Right Coverage Another important factor to look for when shopping for renters insurance is “actual cash value” vs. Other Points of Interest Regarding Renters Insurance When a claim is reported, the insurance company will ask the policyholder for proof of purchase for all items reported on the ... BCPS automatically provides $15,000 of basic term life insurance coverage at no cost to all permanent full- and part-time employees.http://www.bcps.org/offices/benefits/pdf/single_pages_etc/Life-Insurance.pdf. MetLife is the insurer of the program. All permanent full- and part-time employees may request optional life insurance to supplement the basic life insurance coverage. The multiple of salary you select for optional coverage will automatically result in an increase in insurance coverage whenever your salary increases. Employees may increase, decrease, or cancel the amount of life insurance by completing a MetLife enrollment application. Requested increases are subject to approval by MetLife Insurance Company. Employees electing optional life insurance coverage within 60 days of employment may obtain up to 3.0 times salary without providing proof of insurability. Eligible children may be insured for $10,000. If you and your spouse are both employees of BCPS, you may not insure each other and only one of you may provide coverage for your children. Employees may request a change in the amount of life insurance by completing a MetLife enrollment application. Requested increases are subject to approval by MetLife Insurance Company. Waiver of Life Insurance Premium Disability Benefit: MetLife will waive each Life Insurance premium that becomes due for you under the Group Policy while you are totally disabled under certain conditions listed. When a premium is waived, the Amount of Life Insurance equals the amount that would have been provided if you had not become totally disabled. When a premium is waived it includes Life Insurance, Accelerated Death Benefit, and Waiver of ... Insurance brokers serve businesses and individuals seeking to purchase insurance, and are subject to strict fiduciary duties to serve the best interests of their clients.. We were concerned that conflicts of interest arose when brokers received contingent commissions and other hidden payments from certain insurance companies for steering client business to preferred insurers. Not only do insurance brokers receive contingent commissions to steer business, but many brokers, with the assistance and collusion of insurance companies, engage in systematic fraud and market manipulation in order to ensure that profitable and high volume business goes to a few selected insurance companies. Similar to the small investor on Wall Street or in mutual funds, the ordinary purchaser of insurance has no idea that the broker selected may be receiving hidden payments from insurance companies, that the advice received may be compromised, or that the market bids presented by the broker may be illusory. We found that a small group of brokers and insurance companies have created a network of interlocking connections and secret payments which ensure that the bulk of business goes to certain insurers and that profits remain high. In 1998, the Department of Insurance issued Circular Letter No. 22 in response to reports that in addition to customary commissions, brokers were receiving undisclosed compensation from insurance carriers. The Insurance Department stated that pursuant to Insurance Law § 2101(c), insurance brokers represent the insured and indicated that receipt of undisclosed compensation by a broker “may constitute a violation of ... Student Health Insurance: The following are factors you will want to consider when deciding whether or not to waive the Oberlin College Student Health Insurance.http://www.oberlin.edu/stuaccts/termbill/documents/insuranceWaiver.pdf. There may be other factors pertinent to your own individual insurance coverage to consider as well. The policyholder is responsible for determining the adequacy of their existing insurance coverage. (This means that your existing insurance supplements the Oberlin insurance for claim filing and payment.) • If you do not have insurance coverage or your existing insurance is not adequate, you may NOT waive Oberlin’s Student Health Insurance. • Students need to be enrolled full-time to be covered by Oberlin’s insurance. • Does your existing insurance provide coverage outside your geographical area or are you considering studying abroad? • Does your existing insurance require pre-certification before treatment or admission to a hospital? • Does your existing insurance provide coverage for mental and nervous disorders physician’s visits? • Whether you retain Oberlin’s Student Health Insurance or not, be sure to come to campus with your existing insurance identification and information. I have reviewed my existing insurance and the factors listed above. I do not wish the student covered by the Student Health Insurance and do have other adequate coverage. I understand that by waiving the Student Health Insurance coverage, I assume full responsibility and will pay for all medical costs insured, including sports injuries, not covered by the Primary College Health Plan. The student is covered by other insurance, providing at least equivalent benefits as follows: Student ... You have the right to seek assistance from the Insurance Division at any time by fi ling a formal complaint against an insurance company or producer (agent).http://www.cbs.state.or.us/ins/publications/consumer/2322.pdf. A copy of the complaint is sent to the insurance company. A response from the insurance company or producer (agent) must be received at the Insurance Division within 21 days. If the response is not adequate, a consumer advocate will work with you and the insurance company to try to resolve the problem. The Insurance Division will forward a copy of the insurance company’s response to you. If a law has been broken, the matter may be referred to the Insurance Division’s Investigations Unit. The Oregon Insurance Division’s Web site includes all of our publications as well as other useful information for consumers. You can fi le a complaint against an insurance company or producer (agent), check to see if an insurer is authorized to do business in Oregon, and fi nd out if your insurance producer (agent) is licensed in Oregon. Long-term care insurance may not be a good idea for someone who cannot afford the monthly premiums or has less than $30,000 in cash and savings. The worksheet on Page 4 can help you decide if long-term care insurance is right for you. Insurers must tell applicants for long-term care insurance that a policy may be subject to future rate increases and explain the policyholder’s options if premiums go up. The mission of the Insurance Division is to administer the Insurance Code for the protection of the insurance-buying public while supporting a positive business climate. We ensure the fi nancial soundness of insurers, the availability and affordability ... OHSU mandatory student group health insurance policy makes possible a waiver under certain circumstances.http://www.ohsu.edu/academic/acad/health/waiverpolicyandapp.pdf. A request to decline coverage from the University plan must show that the student’s current insurance plan for which a waiver is sought meets the basic health coverage features of the university plan, i.e. to be approved it must be a plan open to all members of a group regardless of individual circumstances, including past medical And it must insure adequately against unanticipated medical costs at a minimum of half a million dollars lifetime benefit. Evidence of the following would meet these criteria: Employer group coverage with a minimum lifetime benefit of not less than $500,000.00, where the insured is a spouse or a parent of the student, or the student’s own employer group plan when the student is employed. (Employer group insurance is open to all in the group regardless of personal circumstances. Individual insurance requires a rating process of the individual before acceptance as a policyholder.) A unique individual plan providing a minimum of $500,000.00 lifetime benefit that meets extenuating circumstances such as the following: the student with a permanent ongoing medical condition who would not qualify for insurance for that condition after graduating and terminating the required OHSU student group insurance, is requesting a waiver to keep a plan which is guaranteed renewable permanently if not terminated, but would be irrevocably lost if terminated to enroll in the OHSU student plan. Student Group Health Insurance Waiver Application and Affidavit Deadline: Application must be received ... military_life_issues.http://www.ct.gov/cid/lib/cid/militarybroc.pdf.htmwww.naic.org/market_regulation/considering the purchase of life insurance:military personnel should know when For more detailed information about what who sold you the policy.know the name of the insurance company andWhen you call or login, it will be beneficial to www.naic.org/state_contacts/sid_websites.htmyour state department of insurance at:If you have Internet access, you may contact adjacent page. please see the list of phone numbers on the To contact your state insurance department, sold immediately. your state of residence or where the policy wasplease contact the insurance department in •the policy was misrepresented as a savings •you have been charged for a policy that you •you have purchased additional unnecessary •the terms of any policy you receive are not protect your consumer rights. If you feelThe state departments of insurance are here to or investment plan did not authorize, insurance, what you agreed to, power of attorney to look for the policy.to cancel the allotment from your paycheck. It may be very costly if you cancel during the first few years of a policy.•Are there any war exclusions to the policy? (SGLI does not contain this exclusion.)Before you sign on the dotted line, ask: •Am I feeling pressured to buy this policy? • Do I need more life insurance? Permanent Insurance paid for as long as the policy is in force.Whole Life of investments made.death benefit, however, variable life insurance can be expensive and risky, depending on the type vehicles of your choosing. Variable life insurance does have the option of a minimum guaranteed increases) and vary the amount or ... | |
