insurance issues,Principles & Solutions and tips *trik tax

Tuesday, 31 October 2017

Insurance Tips and trik auto insurance, auto insurance quotes, auto insurance companies, auto insurance florida, auto insurance quotes online, auto insurance america

Or, you know, not:

64 yr old couple, Laramie WY, $65k income, above subsidy level, pays $49,000/yr for #ObamaCare Silver. After taxes, lives on $500/month! http://pic.twitter.com/CQfQs1eunk
— Edw. Mitchell MS MBA (@coldstreams) October 31, 2017

[Hat Tip: FoIB Rich W]

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Monday, 30 October 2017

Insurance Tips and trik auto insurance, auto insurance quotes, auto insurance companies, auto insurance florida, auto insurance quotes online, auto insurance america

So this afternoon, I'll be meeting with the widow of a long-time client to file a claim. Matt passed away last week after a brief battle with cancer. It's the worst part of my job, and the best. Complicating matters is the fact that we just re-did his insurance a year ago this past August, which means that the policy is still in the contestability period. I'm not really anticipating any issues, but it's just one more thing.

Still, it's a reminder that, as simple as life insurance can be, there are often exceptions.

Take this case, for example, to which we were alerted by FoIB Jeff M:

"Wife Accused of Killing Husband Can Sue Insurer That Froze Life Insurance Proceeds"

Seems that Mrs Bailey has been accused of murdering her (now late) husband, presumably to collect the $343,000+ in life insurance proceeds. Now, accusation ≠ convistion, but courts generally refrain from allowing the accused from profiting from their crime.

She was indicted, but that apparently wasn't enough to satisfy this court, which basically ordered Pru to pony up, ruling that the carrier could always come back later and pull it back if the widow is convicted.

Gee, I can see no possible way for that to go wrong.

Be interesting to see how this turns out.

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Friday, 27 October 2017

Insurance Tips and trik auto insurance, auto insurance quotes, auto insurance companies, auto insurance florida, auto insurance quotes online, auto insurance america

So, despite the fact that I still have no current plans to actually sell ObamaPlans, as a service to my clients (and IB readers), I fell on my sword and spent half the day taking the 2018 Marketplace Refresher Course, for which I received a beautiful certificate of completion (suitable for framing!).

As expected, there really wasn't much new ground covered, although I was once again nonplussed to find this tidbit:

"The IRS routinely works with taxpayers who owe amounts they cannot afford to pay. The law prohibits the IRS from using liens or levies to collect any individual shared responsibility payment. However, if a taxpayer owes a shared responsibility payment, the IRS may offset that liability against any tax refund that may be due to the taxpayer."

Once again I ask: if there's literally no teeth here, how many folks have actually, voluntarily ponied up their "fair share?" And again, I could find no definitive answer on the Interwebs.

Would gladly accept any suggestions or info.

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Thursday, 26 October 2017

Insurance Tips and trik auto insurance, auto insurance quotes, auto insurance companies, auto insurance florida, auto insurance quotes online, auto insurance america

Unconfirmed reports about this just popping up:

CVS is in talks to buy health insurer Aetna. Scoop on WSJ: https://t.co/WHcYG0AY65 $CVS $AET
— Dana Mattioli (@DanaMattioli) October 26, 2017

Huge if true (and consummated). Dana is a WSJ reporter, so: credible.

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Insurance Tips and trik auto insurance, auto insurance quotes, auto insurance companies, auto insurance florida, auto insurance quotes online, auto insurance america

Here's the monthly increases by client:

$0.01

$0.02

$0.04

$0.44

$10.74

$18.55

While it's not the 3000% decrease we were promised, it's definitely a far cry from the huge increases in the ACA market.

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Insurance Tips and trik auto insurance, auto insurance quotes, auto insurance companies, auto insurance florida, auto insurance quotes online, auto insurance america

In the past, we've seen how hard even grandmothered plans have been hit by ObamaCare rate decreases. Today got very interesting: email from Medical Mutual of Ohio alerted me to a handful of individual major medical plans with January 1, 2018 renewals.

And for once, it really was a pretty picture (mostly):

■ Out of 6 plans, two had no change (increase) at all.

■ 3 had nominal (a few pennies or dollars a month) increases (one was 7 cents!)

■ 1 had a whopping 5% increase (about $30 a month for a family of four)

On the other hand, the one ObamaPlan that came up experienced a rate drop of 26%, as promised.

Oh, I'm sorry, my bad:

That's a 26% rate increase (over $60 a month for a single, middle-aged lady).

#ACAWinning, indeed.

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Insurance Tips and trik auto insurance, auto insurance quotes, auto insurance companies, auto insurance florida, auto insurance quotes online, auto insurance america

Our good friend David Williams hosts this week's health care policy and polity roundup, all the more impressive because he is recovering from being hit by a car.

As usual, David does a great job of summarizing each post - a very attentive host, indeed!

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