In the News

Insure Your Love for Valentines' Day!

Visit this website for great information about Life Insurance and the Financial Security it can provide. www.lifehappens.org

Insure Your Love

^Top

September is Life Insurance Awareness Month

Sounds kind of Sophomoric I know. But, if you have not evaluated the financial security of your family in the event of your death lately, now may be the time. This website gives you many tools to get your thought process going. Only Life Insurance CREATES wealth IMMEDIATELY!

Life Insurance Awareness Month
Click here for more information.

^Top

May is Disability Insurance Awareness Month

Please humor us and stop to think what would happen if you were sick or hurt and unable to work? How would you pay your bills? Check out this link for more information.
Click here for more information.

^Top

Good Credit Rating = Lower Auto Insurance!

Please check out this article from The Insurance Information Institute! A good credit rating may help you in more ways than you know.
Click here to view the article.

^Top

Small Businesses Take Note!

Small businesses will be faced with higher administrative costs under Health Care Reform! Increased tax reporting requirements take effect soon. Check out the attached article! How many 1099’s will you need to send out?
Click here to view the article.

^Top

Pay Check Insurance — Disability Income Insurance

If you were sick or hurt and unable to work, what assets would you sell first in order to pay your bills? May is Disability Income Insurance Awareness Month. A Disability Income policy will guarantee a paycheck arrives each month. Three in 10 workers entering the work force today will become disabled before retiring according to the Social Security Administration, Fact Sheet January 31, 2007. Educate yourself. The following link will help!
Click here to view the article.

^Top

Would You Pass an Insurance Quiz?

Check out this article and think about your insurance knowledge. Consulting with an insurance professional will provide the confidence that your assets are protected against the risks you want an insurance company to assume, rather than your wallet.
Click here to view the article.

^Top

Should I buy Rental Car Insurance?

We say YES! Read on!

  1. The Personal Auto Policy pays for actual cash value of a vehicle. Your rental car agreement may require you to pay the full replacement value of the vehicle.
  2. The rental car company may require you to pay for loss of rental income for the car. This can be quite substantial if the car is out of use for 30 days.
  3. The rental car company can charge you for administrative expense and expenses such as towing of the vehicle
  4. Some of the rental car agreements allow them to charge your credit card for a damaged vehicle. This could max out your credit card while you are on vacation.
  5. Your Personal Auto Policy covers US Territories and its possessions, Puerto Rico and Canada. If you are traveling outside of this described territory you have no coverage.
  6. A loss with a rental car may not go on your insurance record if you buy coverage through the rental car company.
  7. You are on vacation. Do you want to spend time negotiating with the rental car company and filing a claim with your insurance carrier?

^Top

EPA Requires Lead-Safe Certification Of Contractors!

In 2008, the U.S. Environmental Protection Agency issued a rule requiring the use of lead-safe work practices aimed at preventing lead poisoning in children. This rule goes into effect on April 22, 2010, and mandates the certification of certain repair, renovation and painting contractors. Any contractor, including renovators, electricians, HVAC specialists, plumbers, painters and maintenance staff, who disrupts more than six square feet of lead paint in pre-1978 homes, schools, day care centers and other places where children spend time are subject to certification. To become a certified renovator, individuals are required to take eight hours of training, including two hours of hands-on training. Firms must be re-certified every five years for renovations and every three years for lead-based paint activities (abatement, inspection, risk assessment). The required certification will not change a contractor’s liability for claims that arise out of their work, but it will impact underwriting for those contractors who are insured, or who apply for insurance. This certification requirement may renew the interest of clients in obtaining insurance for their lead-paint exposures.
Click here for more information.

^Top

NH Insurance Department posts Health Care Resources!

Follow this link to valuable information regarding Health Care Reform.
Click here to go to the NH Insurance Department website.

^Top

The 5 Most Common Insurance Mistakes!

This video provides a great explanation of serious insurance mistakes!

^Top

The Cost of Health Care!

Many so-called experts, pundits, and politicians are saying that the unsustainable rising cost of health care is due to those greedy, monopolistic insurance companies. Did you know that insurance rate increases require the approval of the State Insurance Department? While I believe the insurance industry shares a piece of the blame, the rising cost of health care and therefore the rising cost of health insurance, in fact, can be attributed in large part to three main factors:

  1. Government Intervention
  2. Technology
  3. Lack of Personal Responsibility

Let’s deal with Government Intervention first. Health insurance is primarily regulated by the states. Individual states like New Hampshire have varying laws and regulations under which health insurance companies must operate. The main cost issue is “state mandates”. Would you like the opportunity to purchase a policy that covers only the expenses you wish to cover? Perhaps you do not want coverage for office visits or prescription coverage, for example. State governments require health insurance policies to cover all kinds of things that you may not need or want to insure. The new health care legislation passed in Washington will be adding even more requirements. Although the regulations will not be written for months and years, the federal government will be deciding what your policy must look like. As a health insurance broker, I would love the opportunity to assist my clients in deciding which services to insure. Health insurance companies would love the opportunity to offer a menu of options to choose from, but in large part they are barred from doing so.

Government intervention also has a huge influence on costs, due to Medicare and Medicaid. When you hear that the state or federal government is “cutting” Medicaid or Medicare, they are actually reducing the fee paid to a medical provider for services rendered. A doctor receives less to treat a Medicare patient, and in turn must recoup costs from another source to continue in business. The 800-pound gorilla in the room is this “Medicare Cost Shift”. The cost of doing business does not go down; so when some pay less, others pay more. This new legislation increases dramatically those that will be covered under Medicaid. How will that affect health insurance premium rates?

Now on to Technology! When we are injured or discover some sort of a disease, are we pleased that we have access to the latest imaging technology or medications? Are we pleased that what ended in death decades ago now ends in a longer, more productive life?

Of course we are! My argument is that we fail to realize this when the time comes to write the check for the service or the insurance premium. Do we really want an insurance policy that will only cover the old fashioned X-Ray? Or do we want the option of an MRI if our doctor believes it will prove helpful?

The cost of care continues to rise because the entrepreneurial spirit in America researches and develops medications, medical equipment, procedures, and supplies that improve the quality of life for every citizen. We must place a value on that. When the cost of other goods and services rise due to technological advances, what do we do? Take cell phones for example. When a new version with more applications arrives, we run out and get it even though our existing one still works. Why do we not place a larger value on medical advances?

There is a Lack of Personal Responsibility in our culture today! I certainly believe in a safety net for those who are unable to care for themselves. We can disagree about what the qualification levels are. We can disagree about the level of support provided. But there will be a safety net. I also believe that non-profit, community, and church organizations should and will continue to encourage charity for those in need. That being said, those of us blessed with the ability to pay, those of us powering the economy, and those of us accumulating assets, need to step up to an increased level of personal responsibility. The time has come to realize that the extra week of vacation, the vacation cabin in the mountains, the new car every 3 years, the snowmobiles and 4-wheelers, as well as other unnecessary extras, must go. They must go until the time that we have adequately planned for the future and protected all assets from risk we are unwilling to bear. For example, the purchase of health insurance transfers the risk of large medical expenses to an insurance company. Why should society cover the medical expenses of someone that bought the cabin in the mountains rather than health insurance?

Politics and various special interests will always complicate matters, but let’s get back to basics. My comments certainly over-simplify the most complicated domestic issue we face as a society. However, problem solving must start with the basics and a clear understanding of the issue. To control the cost of health care, we must get to the root causes. I believe that it all starts with the realization and appreciation of the three factors I have outlined above.

George Curt, CLU, ChFC, CIC
Health Insurance Broker

^Top

Health Care Reform Passes!!

After more that a year of vigorous debate, Health Care Reform is being signed by the President today and put into law. What does it mean to you or your business? Attached is a summary prepared by one of our professional associations. We hope you find it helpful!
Click here to download the PDF.

^Top

NH Business Resource Center

After attending a Business Outreach Meeting sponsored by the State of NH, I have found a tremendous resource for small business. The attached link provides information for everything from starting a new business and business funding, to becoming a vendor to state government. Check it out and bookmark it for future reference.
Click here to go to the NH Business Resource Center website.

^Top

NH Business Outreach!

Gov. John Lynch announced a series of regional business outreach sessions designed to directly connect New Hampshire businesses with state leaders and state services. The sessions will give businesses an opportunity to hear from and question state heads about state services. Check the following link for further details on Business Outreach Series.
Click here to download the PDF.

^Top

Food Spoilage!

Caring for food in a power outage!

The U.S. Department of Agriculture recommends taking the following steps during and after weather emergency:

Please talk to us about a special endorsement available on a Homeowners Insurance Policy that will cover food spoilage.

^Top

Heavy Snow on your Roof?

While it is very important to keep heavy snow off of your roof, please remove it with care and safety in mind. Do not end up like this Santa. Stick with it, the end is instant reply!

^Top

“Self-Employed” Health Insurance

Believe it or not, there are vast differences between some health insurance policies. Some insurance companies market themselves as the champion of small business owners or individuals with health insurance policies specifically designed for you or the “self-employed”. The truth is that this is all marketing. These policies can be vastly different than policies available from nationally recognized companies. We talk to clients weekly that are very surprised about the lack of coverage these policies provide. If you have a policy that you were told was designed or tailored for you, please give us a chance to show you the differences. You will be glad you did.

^Top

Insure Your Love!!

The number one reason to buy Life Insurance is Love! You Love Them! Insure Your Love with Life Insurance!
Click here for more information.

^Top

Health Insurance Reform!

Health Insurance Reform and Health Care continues to dominate the news out of Washington. It is a topic of conversation no matter who we talk to and no matter where we go. Why is that? I would like to suggest of few of the reasons:

  1. Most of us wish to live long, fulfilling lives and have a vested interest in staying healthy, or curing our illnesses and healing our injuries.
  2. The cost of this care is very expensive for many reasons. For example, when you are sick or hurt and your doctor wants you to have an MRI rather than an old fashioned X-Ray, do you say no? Of course not. We want the advantages that technological advances afford us.
  3. The health care system and therefore it’s cost is very complicated. Many hands in the cookie jar. Patients, Doctors, and Hospitals. Drugs Companies, Lawyers and Insurance Companies. The most significant complicating factor is government. The state and federal regulations placed on this industry are unprecedented.

The importance, the cost and the complicated nature of this issue bring it to the fore. All of this prior to the application of the political forces. No matter what direction the political winds end up blowing in Washington in the coming weeks, “REFORM” will not reduce the importance, the cost or the complicated nature of Health Care. In fact, reform may increase them all.

^Top

HealthFirst NH — Small Business Plan

Well it is official, Health First NH will be available for small businesses effective October 1. This is a new Health Insurance Plan designed with small business in mind. The goal is to offer a lower cost alternative to small businesses with less than 50 employees. Anthem BC/BS is the first carrier to outline the specifics to the brokerage community at a seminar 8/6. My office has begun quoting this plan for our clients already.

After reviewing the details and beginning to quote the plan for my small business clients, it appears that it will be attractive to some small business owners. The plan has several attractive features as well as some major differences in coverage when compared to the plans currently available. The plan offers an attractive deductible credit feature that is available when insureds participate in certain wellness programs. However, the plan does have relatively high deductibles and a limited generic-based pharmacy benefit. Lastly, it is not a qualified high deductible health plan that meets the requirements necessary to make Health Savings Account contributions.

My office is ready to discuss this plan in detail with any small business owner. We routinely help business owners compare available plans and costs with the use of a spreadsheet and personal advice. We represent all major insurance carriers in NH.

^Top

NH Health First — New Plan for Small Business

You may have all seen the headlines recently in the papers.

Gov. Lynch Announces Small Business Will Be Able to Access Lower Cost Health Insurance Beginning Oct. 1.

On July 8th, Governor Lynch held a press conference in order to announce lower health insurance premium costs for small business. At the press conference, the Governor stated that Anthem has received approval from the NH Insurance Department to move forward with a plan design which meets the requirements of NH Health First. You may recall that Health First requires the base rate of any premium to be 10% of the statewide median wage.

Needless to say, my phone has been ringing off the hook. I have been watching the legislation for 2 years. In the near future, I will be attending meetings at Anthem BC/BS that will educate the brokers on this new program. While the headlines gain exposure and excitement, the details are critical. For some of you, this may be a great option for your health insurance dollars, for others not so. For example, I have learned that it is not a “qualified high deductible health plan” for Health Savings Accounts.

George

^Top

Medicare Cost Shifting — A HIDDEN TAX

One of the largest factors in the cause of rising health care (and therefore health insurance) is the Medicare Cost Shifting. It is the 800 pound gorilla in the room. During the budgetary process in Washington, the Congress and the President cut Medicare spending by reducing Medicare reimbursement rates. These are the fees paid to Doctors and Hospitals. When a Medicare patient pays a visit to their physician, the federal government pays that bill. The problem is that when the government continuously reduces the amount of the fee the doctor will receive, the doctor must recover that fee elsewhere. Providers do that by raising fees on other privately insured, or uninsured patients. Due to this issue, the number of providers that accept the “Medicare Assignment” is getting smaller every day since providers cannot cover their costs with the Medicare system. (By the way – the State Medicaid system works in a similar fashion. This is the health insurance program for the poor.)

Of course this is only one factor in a problem that continues to get worse. The point is that Medicare is a government program that is broken and full of political obstacles. When the government cuts that spending, we all pay for it in terms of higher health care costs and therefore insurance costs. A HIDDEN TAX. Politicians need to admit that this is a huge factor in the rising cost of care rather, than blaming Doctors and Insurance Companies alone.

The Federal System is broken, yet Washington seems to be headed in the direction of “reforming health care” by providing a Medicare like system or option. Is this the model we want for “health care reform”? Or do we want to improve a a private system that provides the best health care in the world?

The privately funded system can be reformed and reduce overall costs with a series of systemic and regulatory changes, without reducing the freedom we currently have to choose our own coverage, our own course of treatment and our own doctors.

^Top

Control the cost of YOUR Health Care with Health Savings Accounts

Reduce your health insurance costs with the use of a concept called a Health Savings Account – HSA. This concept has two components. Component #1 is a traditional health insurance policy with a high deductible. The premium for this type of policy is lower than an HMO for example. Component #2 is an actual savings account (HSA) with huge tax advantages. Better than an IRA!!!!!! Tax free growth. Want to know more????

^Top

Why don’t we treat the healthcare system like any other retailer?

It seems to me that in addition to realizing that healthcare costs more every year due to medical advances and technology, healthcare costs more due to the fact that we do not question costs in the system. When is the last time you asked a hospital what your MRI was going to cost? For an idea of the huge disparity in costs from one facility to the next, visit www.nhhealthcost.org. Let me know what you think??

^Top

Cost of Health Care — Why is it so high?

The high cost of health insurance can be directly tied to the high cost of health care. Why does the care cost so much? That is the million dollar question. There are many reasons for the high cost of care. I will outline one that we all forget here. Technology. We all want it when we are sick or hurt. Decades ago we had X-Rays, yes old fashioned X-rays. Today, we have MRI’s, CAT Scans etc. When we are sick or hurt, we want the latest imaging technology to be employed to diagnose our issue or pain. Decades ago, we had aspirin. Today we have all kinds of pain killers, cholesterol lowering drugs, mood altering drugs etc. I could go on and on. Would you like to purchase a health insurance policy that does not cover those fabulous things? When we pay the premium yes. When we need care, no way. Food for thought! Share yours thoughts! Health Care Costs Continue to Rise Health Care costs in New Hampshire continue to rise for a multitude of reasons. The reasons are very complicated and interconnected. This blog will be attempting to raise the level of awareness, empower the consumer and frame a discussion of the possible solutions.

^Top

 

Society of Financial Service ProfessionalsNational Association of Health Underwriters