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Insure Your Love Mosaic

Posted by Resource Center

insureyourloveSeptember being Life Insurance Awareness Month, it's a great time to share this very cool mosaic of uploaded loved one photos. It's growing day be day with the world's uploads!

Lifehappens.org is a great resource for learning about life insurance, options for estate planning, and stories that will pull at your heart and really get you thinking about how well your family is protected.

There’s a growing crisis of too many Americans not having adequate life insurance protection. According to the industry research group LIMRA, 30 percent of US households have no life insurance whatsoever. Today there are 11 million fewer American households covered by life insurance compared with six years ago. Here’s the bottom line: A majority of families either have no life insurance or not enough, leaving them one accident or terminal illness away from a financial catastrophe for their loved ones.

Here are some great resource links to get you started:

Life Insurance 101

Life Insurance Needs Calculator

Human Life Value Calculator

 

 

 

Topics: Business Insurance

Drive Safer Around Motorcycles: Harley Davidson's 110th Anniversary Celebration

Posted by Resource Center

Motorcycle Road TripThis weekend is the 110th Anniversary of Harley Davidson - and what a celebration weekend it will be for Milwaukeeans.

There will be thousands of motorcycles converging on Milwaukee, so it's good to know the rules of the road for motorcycles and how to drive safer around motorcycles. Here are a few key points from this great article by Mike Rodgers:

  • When making left turns, look for traffic...then look AGAIN for bikers
  • Let them swerve
  • Stay back
  • Make a conscious note

Have fun and be CAREFUL out there this weekend!

Motorcycle Roads: Find routes, maps, rides and trips

World's Worst Motorcycle Crashes

Discovery Channel Motorcycle Wipeouts

 

Topics: auto and motorcucle insurance, harley davidson 110th anniversary celebration, scariest motorcycle crashes

4 Potential Effects of The Obamacare ACA Employer Mandate Delay

Posted by Resource Center

ACA_Employer_Mandate_DelaysA major provision of the Healthcare law that would require employers to provide health insurance for their workers has been delayed until 2015. The part that is delayed: the requirement that businesses with more than 50 employees provide health insurance to their workers or pay a penalty. Businesses with more than 50 employees would have paid a fee of $2,000 per uninsured employees after the first 30 employees. The Congressional Budget Office expected those penalties to bring in $4 billion in 2014. Employer Mandate Penalties Delayed Until 2015 - legislative brief.

Jackson Hewitt Tax Service pointed out 4 potential effects of Tuesday’s announcement delaying the implementation of the Affordable Care Act's employer mandate:

  1. Fewer employers may cut employee hours in 2014. This one-year respite may make employers (e.g., restaurant and retail establishments) less likely to reduce employee hours below 30 hours per week (so as to classify such employees as part-time for section 4980H penalty calculations).
  2. Many families with children will have an unexpected benefit. For employers who offer employee but not dependent coverage, this one-year delay may also cause employers to postpone any offer of coverage to dependents. This may have a positive effect on such families for two reasons. First, children without an offer of employer-sponsored coverage may be eligible for the Children's Health Insurance Program (CHIP) if they meet the state-specific income and other eligibility requirements. Second, children without an offer of employer coverage may be eligible for the new premium assistance tax credits in 2014 even if their incomes are above the state-specific CHIP limit. Indeed, employers may be more likely to cooperate with enrollment efforts to get uninsured employees and their uninsured dependents covered under various ACA programs because they know with certainty that they will not face a penalty in 2014.
  3. States may face less pressure from business interests to expand Medicaid. Jackson Hewitt had released a report earlier this year estimating that American employers would incur $876 million to $1.3 billion in penalties in 22 states that were refusing to expand their Medicaid programs as contemplated under the ACA. Today's decision effectively removes that penalty liability for 2014. However, employers will continue to face such penalties in 2015 and thereafter in states that do not expand their Medicaid programs.
  4. The Treasury action today addresses anxiety among employers about the lack of final regulations from the IRS. While many employers with large part-time and seasonal employees embraced the flexibility afforded to them by the IRS's proposed approach, they voiced increasingly loud concerns that the IRS had yet to finalize this approach in a final rule. Indeed, the IRS has not publicly pledged to finalize these proposed rules before the major provisions of the ACA take effect in 2014. In an unexpected development late Tuesday, though, the Treasury Department effectively moots this issue for 2014.

Other key parts of the law, including the health exchanges where individuals can buy insurance, are on schedule. The exchanges will open on Oct. 1, wrote Valerie Jarrett, a senior adviser to President Obama, in a White House blog released Tuesday.

The delay also does not change the individual mandate, which requires most Americans to purchase insurance. Some consumers may receive subsidies to help them pay for the insurance depending on their incomes.

The government still encourages businesses to voluntarily begin reporting in 2014 so they will be ready for 2015. The administration is strongly encouraging employers to maintain or expand health coverage during the 2014 transition period.

Various parts of the law have taken effect since its passage in 2010, including allowing children up to age 26 to remain on their parents' insurance plans and discounts for prescription drugs for Medicare patients. More young Americans have health insurance than before the law, because of that change, and the discounts have saved Medicare recipients billions of dollars.

Consolidated Health Care Reform Resources on one site! Health Care Reform Resources

Join the discussion on LinkedIn: Obamacare: Strategies for Business to Survive

Related Articles: Health Care Reform

 

Topics: Employee Benefits, Health Reform, Healthcare law, Treasury delay, Obamacare Delay, ACA delay, Jackson Hewitt Tax Service, Employer Mandate delay, Affordable Care Act Delay

How to Get, or Keep, Health Insurance if You Are Self Employed

Posted by Resource Center

LadyComputerIf you're starting your own business - Good for you! It's a big leap of faith and can often times be a big hit on your pocket book. If you're leaving a full-time employer to make this move, chances are you are also walking away from your health insurance coverage - or some form of it anyway. For those that have health insurance currently, but are making the move, here are some suggestions that will help you either find health insurance or try to extend what you've got for the first year or so.

How to Get or Keep Health Insurance if You Are Self Employed

  1. Enroll on spouse's plan
    If you have an insured spouse that has health insurance, this is probably your most affordable option. On average, workers pay $4,129 toward their annual health insurance premiums. This averages to $344 a month. You'll be hard pressed to find individual health insurance for that price. (Younger workers are taking a huge increase with reform, and older workers, well, they are more risky - so your age may not get you a better price in the new age of reform).
  2. COBRA Extension
    Under the COBRA (Consolidated Omnibus Budget Reconciliation Act), employers are required by federal law to offer COBRA extensions for health and dental coverage up to 18 months for you an your dependents when you leave your job. Drawback: It's really expensive. If you have planning time before you leave, consider dropping to the lowest cost plan your company offers - when the enrollment period allows. This will at least get you a lower monthly COBRA payment.
  3. Purchase your own policy
    Be leery of websites that offer you dozens of quotes for affordable health care insurance. Sure you'll get some numbers - sometimes too many numbers. But once they have your information, you'll be hounded by a plethora of independent insurance agents all clambering for the same piece of business - yours! Health insurance rates are set by the federal government - so no one company is going to be different than the other - the real difference is service from an independent agent. An independent agent can provide free quotes and handle all of the shopping for some of the best choices and value in health care coverage. An independent agent knows the marketplace, knows the product, knows the carriers and most of all will get to know you and your needs, and protect you - that's their job. See 5 Mistakes to Avoid When Buying Individual Health Insurance and 7 tips on How To Pick The Best Individual Health Insurance Coverage.
  4. Join a professional organization that offers a health insurance benefit
    Some professional and trade associations offer health insurance with group coverage rates. If you are over 55, consider AARP.org. The National Association for the Self Employed offers insurance plans as well. Chambers of commerce or business alliances can often have a consortium offering for health care insurance too - check with your local chamber of commerce for their options.
  5. Opt to hire one person - making your own small group
    Because individual insurance is fairly expensive, some self employed people have opted to hire an additional employee to qualify them as a small business. Most independent agents like R&R Insurance can offer group premiums with 2 or more employees - this could make a significant difference in your monthly cost.
  6. Stay employed
    Probably the least desirable for someone with an entrepreneurial spirit, but the suggestion to stay employed is worth mentioning. Stay employed either with your current company or with a company that offers health insurance coverage for the minimum number of hours a week - most often times its 30 hours a week. This keeps your pocket book in line, continues coverage for your family and gives you more time to chase your dream - although a little more slowly.

For more information on insurance for self employed individuals please visit our website. R&R Insurance Services is an independent insurance agency serving all of Wisconsin. We offer businesses and families access to affordable insurance coverage with excellent 24/7 service. For more information on individual health care plans contact knowledgebroker Donna Wahl.

Related articles:

Topics: Employee Benefits, Health Reform, National Association for the Self Employed, aarp.org, Business Insurance, self employed health care insurance, health care insurance for self employed, Self Funded Health Insurance, Individual Health Insurance, COBRA, Get or Keep Health Insurance, donna wahl

5 Mistakes to Avoid When Buying Individual Health Insurance

Posted by Resource Center

grandma_FaceReform is well underway, which means that more individuals are forced to search for, and purchase, their own individual health insurance. In an effort to equip our customers with the most information possible, we are sharing what we are finding to be the 5 most common mistakes people make when buying individual health insurance.

5 Mistakes to Avoid When Buying Individual Health Insurance

  1. Not buying health insurance or postponing your plan
    Never go without health insurance. Granted we now have badger care - for those that meet the income requirements. But for individuals who are self-employed, retired or in between careers, taking a gamble on your health is a huge risk - one that can devastate you financially for the rest of your life - and ruin your credit too boot. Even a simple catastrophic illness plan is better than nothing - make sure your agent covers all of the options within your budgetary constraints.
  2. Deductible - too low if you are young and healthy - too high if you are in need of care
    The number one mistake people make is not choosing the deductible that is right for your health and age. If you are young, healthy and only see the doctor once a year for preventive care - then take that gamble! Go with a high deductible ($1,200 or more a year for individual and $2,400 a year for families is considered high). High deductibles will cost you less on a monthly basis. If on the other hand you are in poor health or climbing in years and you find yourself using more medical care that you used to, then go with a lower deductible - but weigh the overall yearly cost of the plan. That will help you determine how low to go on the deductible.
  3. Out-Of-Pocket Max Not Understood
    Outside of your monthly payment, this is the single most important thing you want to concern yourself with when buying health insurance. There is nothing more important than knowing how much money you could potentially have to pay for a serious medical procedure. Make sure your agent goes over several scenarios with you so that you fully understand what your out-of-pocket expenses will be should something major occur. A lot of plans will not include the plans deductible in consideration of out-of-pocket max. This is a very important coverage topic to fully understand!
  4. Pre-existing Conditions
    After 2014, insurance carrier can no longer deny insurance to anyone based on a pre-existing condition. Great! That means if you do have a pre-existing condition, you'll be able to get coverage - whereas you most likely couldn't before reform. The misconception is that this insurance is "free", or even "affordable". Don't think for one minute that insurance companies are not going to take into consideration your "insurability". They will and it will be reflected in your monthly payment - and it will be expensive! They can't turn you away - but they can make you pay! For previously uninsurable risks (pre-existing), we are seeing 40%-400% increases in rates. There is a high risk pool for Wisconsin that can be considered if this option is too costly.
  5. Not working with an independent agent
    Yes, you can go through the on-line quoting process, fill out all the forms, submit your email address and then within 24 hours you'll be bombarded via email and phone calls with companies and agents trying to collect even more information on you - they all work for someone different. Quoting sites conglomerate your information and feed it to paying agencies as a "lead". Why would anyone want to go through that hassle? Contact R&R Insurance - or if you are in a state other than Wisconsin, contact an independent insurance agency that will be your one main contact. We shop it for you. We collect your information, always with the utmost respect for your privacy and protection of your personal identifiable information - and we field the quotes coming in. You'll receive valuable insight, have your pick between all the major companies and be reassured each year you are paying the best rate, all for no extra charge.

Your insurance agent does not get paid until you purchase a plan, at which point they are paid a commission directly from the insurance company. Health insurance prices are fixed by law, that means you will pay the same rate for that health insurance no matter where or who you buy it from.

Related articles: 7 Tips on How To Pick The Best Individual Health Insurance Coverage

Topics: Employee Benefits, Individual Health Insurance, pre-existing

7 Tips on How To Pick The Best Individual Health Insurance Coverage

Posted by Resource Center

elderly couple in kitchenThere are two main reasons for a huge upsurge in individual health insurance inquiries. One is that thousands of baby boomers are retiring daily, and those that aren't lucky enough to have a health insurance option in their retirement plan, have to purchase health insurance/supplemental insurance elsewhere. Secondly, reform is well underway, which means that more individuals are forced to search for, and purchase, their own health insurance - depending of course the decision that their employer makes.

7+ Tips on How to Pick The Best Individual Health Insurance Coverage

      1. Identify the “must-haves.” You can’t foresee a sudden injury or illness, but some medical needs can be anticipated. Maternity coverage, for example, is an obvious must-have if you’re starting a family, and not all policies offer it. If you have a family history of heart disease, you may want to make sure your coverage includes the cost of cardiac screening tests and cholesterol-lowering drugs. Under the Affordable Care Act, individual insurance plans must cover the full cost of more than two dozen preventive services for men, women, and children, including vaccinations and tests for high blood pressure, cholesterol, colon cancer, and diabetes, as long as they’re provided by a practitioner in the plan’s network.
      2. The right plan for your age/health. If you’re relatively young and healthy, consider choosing a policy with a high deductible, the amount you must pay out of pocket before certain benefits kick in. A plan with a deductible of $1,000 or more is likely to cost you considerably less per month, and could save you money in the long run. If you middle aged or older, and things just don't work the way they used to, consider a plan that would address those issues, with a slightly lower deductible - because you know you are for certain going to use it. Do the math. Add your deductible out-of-pocket cost to the monthly cost of the plan - are you ahead at the end of the year if you use your coverage consistently?
      3. Make sure your drugs are covered. You’ll want to make certain that the plan’s list of covered medications, includes those you take regularly, especially if they are expensive.
      4. Check the network. If you have a primary care physician and specialists you like, be sure they’re in the network of any plan you consider buying. Policies generally cover a lower share of the cost of out-of-network care—or none at all. R&R Insurance can supply you with links to the plan's network of physicians to help you in your decision making.
      5. Know your share of the costs. Plans are required to state how much you’ll pay out-of-pocket, through flat fees called co-pays and through coinsurance, a form of “cost-sharing” in which you pay a percentage of a medical service. Find out whether the out-of-pocket includes the deductible - or is it "in addition to" the deductible?
      6. Coverage for a spouse or dependents? An "individual" plan, again means that it isn't connected to your employer, but it can cover multiple people. Make sure you factor in the needs of your spouse, their age, affordable deductible etc. If you have children under age 26 without health insurance coverage through an employer, the law permits them to be on your insurance. Policies also can no longer exclude kids under age 19 from coverage because of pre-existing conditions.
      7. Walk through several plans. It only takes a few minutes to review the main benefits associated with each plan, and some plans that look appealing at first glance may turn out to have cost-sharing features that could burden you with heavy medical costs.

BONUS SUGGESTION: If you are retiring, always check with your employer to see if it is part of your retirement package, or if your employer offers the option to purchase their health insurance plan to retirees. This a lot of times can be a more affordable option as you settle into retirement. COBRA coverage can also be helpful during your transition phase.

At R&R Insurance, we value your time and your privacy. We will take your call, collect the minimum amount of information necessary to submit a quote, and then review those quotes with you to make sure you fully understand the coverage and the costs. Avoid the hassle of filling out multiple forms online to then be bombarded with email blasts you don't want. We will trust your privacy, get you the right information in a quick and professional manner, and make sure you are covered in the end.

Wisconsin residents contact Donna Wahl, Individual Health Insurance agent for R&R Insurance, or call 1-800-566-7007 to get started on a quote.

 

Topics: Employee Benefits, Health Reform, health care refrom, Individual Health Insurance, reform, donna wahl

Top 10 Ways to Improve Patient Safety

Posted by Resource Center

StethescopeGreat article on improving patient safety for care giving facilities such as hospitals and nursing homes. Read full article in Amednews.com, by Kevin B. O'Reilly.

These are things hospitals and nursing homes should be doing to protect patients.

  1. Improve Hand Hygiene
    Rates of hand washing are low, averaging 39%, with many doctors and nurses underestimating the activity's safety value. Research shows that effective hand hygiene initiatives improve knowledge of when to clean and how to clean, require demonstration of the knowledge, ensure that alcohol-based rub and gloves are available at the bedside, and guarantee that compliance is monitored continuously
  2. Use barrier precautions to stop the spread of infections
    Along with hand hygiene, barrier precautions are key to reducing the 1.7 million health care-associated infections that occur in the U.S. each year, which the CDC says kill about 99,000 patients annually.
  3. Implement care bundles to prevent central-line associated bloodstream infections
    About 250,000 bloodstream infections occur each year in the U.S., and these infections can triple hospital stays from seven to 21 days. Bloodstream infection rates in ICUs fell by nearly 60% between 2001 and 2009 thanks to wider use of a prevention protocol bundle.
  4. Use real-time ultrasonography when placing central lines
    Using portable ultrasound machines to get a real-time, two-dimensional view while placing the catheter has been shown in randomized trials to lower infection rates and improve other outcomes. For every 1,000 patients, ultrasonography-guided central-line placement helps avoid 90 complications, research shows.
  5. Use protocols to reduce catheter-associated urinary tract infections
    The most important step in preventing catheter-associated UTIs is to reduce use of indwelling urinary catheters. At least 21% of catheters are placed in patients inappropriately — for example, as a substitute for extra nursing care — and they often are left in long after they are needed.
  6. Employ preoperative checklists to reduce surgical complications
    The most well-known surgical safety checklist is one devised in 2008 by WHO, which cut mortality rates from 1.5% to 0.8% at sites in industrialized nations and developing countries. The checklist also helped reduce the surgical complications rate from 11% to 7% over six months involving nearly 4,000 procedures.
  7. Improve venous thromboembolism prophylaxis
    Between 350,000 and 600,000 Americans develop deep vein thrombosis each year. One key to improving use of these prophylactic interventions is health information technology that helps identify patients at higher risk for VTE. Medical and mechanical interventions can prevent VTE, Dr. Haut says. Low-dose unfractionated heparin and low-molecular weight heparins such as enoxaparin and warfarin are effective. So are compression stockings and pneumatic compressing devices.
  8. Use preventive intervention care bundles to cut rates of ventilator-associated pneumonia
    Pneumonia linked to endotracheal intubation accounts for 25% of ICU infections and is responsible for half of intensive care antibiotic use. Research shows that preventive intervention care bundles can cut rates of ventilator-associated pneumonia by as much as 40% among adults and children.
  9. Avoid hazardous drug abbreviations
    About 15,000 medication errors a year have been linked to using abbreviations such as “u” for “unit” and “q.d.” instead of “once daily.” Implementation of computerized physician order entry systems also can help eliminate the vestiges of this problem.
  10. Use multi-component interventions to prevent pressure ulcers
    About 2.5 million Americans develop bedsores each year, and about 60,000 patients will die from complications related to pressure ulcers acquired in U.S. hospitals. One bundle of preventive care measures has reduced pressure ulcers by 90% at a large health system, from a rate of 5.7% of patients to less than 0.5%. The bundle, dubbed SKIN, calls for continual assessment of the skin of at-risk patients, regular turning of these patients, management of incontinence to prevent soiling that can contribute to bedsores, and nutritional assessment for malnourishment that can enable the ulcers.

Health care organizations in Wisconsin wanting to know more about how to reduce their risk and liability exposures, contact knowledgebroker Jeff Thiel.

Topics: Safety, Practice Management, Healthcare, Business Insurance

59 Percent Say Job is Key Stress Trigger

Posted by Resource Center

DoctorA recent survey commissioned by Regus, a provider of flexible workplace options, revealed that stress is on the rise for workers worldwide.

Stress-related conditions account for:

  • 75-90% of all doctor visits
  • 30-50% of new disability benefit claims

Stunning facts from Regus stress report revealed in this infographic.

With almost half of respondents globally reporting that their stress levels have risen in the past year and the fact that work topped the chart for being the most likely stress trigger, it is evident that measures to re-address the mental well-being of staff needs to be analysed and evaluated as soon as possible.

Access the full report here at http://www.regus.com/stress-report.

At R&R, we are seeing more and more small businesses in Wisconsin having serious discussions about the link between stress, obesity, well-being, workplace injury and it's effect on health care costs. On top of that – when you factor in wellness programs that will increase the health and longevity of employees and their families – small businesses can have a lot control over their health insurance costs and the productivity of their employees – control that they don’t realize they have. At R&R Insurance, we call this program WellCompForLife! Join the WellCompForLife discussion on LinkedIn!

Related Articles:

Preventing Injuries for an Aging Workforce

Obese Workers More Likely to Report Injury

Health-Related Productivity Costs

Employers Growing Role in Chronic Condition Management

Topics: Employee Benefits, Wellness, WellCompForLife

Merging Wellness and Workers Compensation

Posted by Resource Center

Injured WorkerWhat we know for a fact: healthier employees recover more quickly from a work-related injury, and are actually less likely to even be injured. If Healthier Employees = Less Work Comp Injuries and Less Work Comp Claims, then another way of reducing work comp costs is to improve the health of your employees.

How does that culture shift play into the fact that the workforce is aging? How can an employer adjust roles and responsibilities of older workers to continue to make headway on reducing workers compensation costs?

The Aging Workforce Seminar, scheduled for May 23, 2013, held at the MRA Conference Center in Waukesha, WI, will address wellness, workers compensation and the aging workforce. How can employers finesse all three to improve efficiencies and increase profits?

Dr. Andrew Seter with Sensia Wellness will discuss a physician’s perspective on what he looks for in medical evaluations and how he advises employers with return-to-work programs. Proven Cost/Process/Behavior models will be discussed in this two hour seminar.

More seminar details and registration information.

Related Articles:

Preventing Injuries for an Aging Workforce

Obese Workers More Likely to Report Injury

Health-Related Productivity Costs

Employers Growing Role in Chronic Condition Management

 

 

 

Topics: Workers Compensation, Employee Benefits, Wellness, Health Reform, WellCompForLife

Top Ten Reasons to Have Flood Insurance

Posted by Resource Center

flood_TulipThe snow which blanketed communities throughout Wisconsin this winter is melting on top of frozen earth. When combined with the inevitable springtime rains, excessive run off could produce record flooding.

Many people are unaware that their homeowner's policy does not cover their property and possessions in the event of a flood. Flood insurance covers the direct physical losses caused by floods, flood-related erosion, severe rainstorms, flash floods and mudslides.

According to the Federal Emergency Management Agency (FEMA), almost all Wisconsin homeowners (99%) lack proper flood insurance. Can you imagine what it would cost to recover from a flood? And are you prepared to foot that bill if it ends up happening? In most cases, the answers to these questions are no and no.

Top Ten Reasons to Have Flood Insurance:

  1. Be Flood Smart! Spring flooding is almost here and there is a 30-day waiting period before coverage begins. You can’t simply wait for it to start raining before you call to obtain coverage.
  2. Coverage is relatively inexpensive with an annual average premium between $300 and $400 for approximately $100,000 of coverage.
  3. You can depend on being reimbursed for flood damages because NFIP flood insurance is backed by the federal government, even if the President does not declare a federal disaster.
  4. You do not have to repay flood insurance benefits, and your premium will not go up because you make a claim.
  5. You become eligible for additional benefits to elevate, strengthen or move your building.
  6. Renters can purchase flood insurance contents coverage for their personal belongings or business inventory.
  7. Basement coverage includes cleanup expense and items such as furnaces, water heaters, washers, dryers, air conditioners, freezers, utility connections, and pumps.
  8. You can request a partial payment immediately after the flood, which can help you recover even faster.
  9. Buying flood insurance is the best thing you can do to protect your home and business, and your family's financial security from a flood.
  10. Your standard home policy does not cover damages caused by flood.

Wisconsin residents, for more information about your homeowner's policy or flood coverage, or to find out if your home is in a flood zone, contact a knowledgebroker today.

Topics: Personal Insurance