What are Supplemental Benefits?

November 3, 2013


Many questions have been raised about the new Health Care Reform and how the changes will affect each one of us. Some of the concerns are about prices for coverage and the amount of coverage that is going to be extended. Since thousands of people have never had health coverage, they will have to become knowledgeable about the health care services they will be receiving, and how they will be billed.

One of the issues consumer will face is the higher costs associated with the health care reform and how to adjust their budgets accordingly. In order to afford the health care premiums, most consumers will choose a plan with a high deductible. The deductible is the amount the consumer will have to pay, out of pocket, before the insurance company will pay for health services. Since Americans have not been able to save money over the years, very few will have an emergency account set aside to handle unexpected costs, such as deductibles. The average consumer has less than $4000.00 in their checking or savings account.

We have experienced an economic crisis and we still have not changed our spending and saving habits, five years later. That is the reason why many people will benefit from purchasing a low cost supplemental health insurance policy. This policy will pay the out of pocket costs that most health insurance policies will not cover.

For example, depending on the type of cancer, the average cost of cancer treatment can total over $500,000 and out of pocket cost could total $1000 per month, with co-payments for drugs as high as $20,000. Most people who have cancer may not be able to afford the out of pocket costs. Some have opted not to have the treatment, especially if death is inevitable. Some may seek natural or homeopathic remedies for cancer, if they are willing to do the research involved.

The solution to this is to purchase a health insurance supplemental program which would cover all or most of these out of pocket costs. A health insurance supplemental program would provide cash to cover losses as a result of catastrophic medical bills. The cash payments would allow the patient to continue pay for daily living expenses of food, clothing, utilities, and transportation, while they are receiving treatments.

This failure to plan for unexpected costs has led to financial ruin for many people, especially business owners, causing them to file for bankruptcy, and lose their homes and other assets. Business owners incur expenses for operating their businesses and must also earn money to run their households. When they are sick and need medical treatment for serious medical problems, it can strain the budget.

In conclusion, investing in health insurance supplemental insurance and a long term disability policy would be wise decisions which could help to lighten the burden of having to pay for out of pocket costs. This would include payments for other insurance which the patient is paying at the time of treatment, such as automobile insurance, life insurance, and disability insurance, which are necessary for the financial security of the families.


Health Care Reform Affects Women

October 6, 2013


With the October 1 deadline behind us, it seems the word has spread about the new health care reform as many people are already flocking to the exchanges on-line to shop around or purchase the health coverage.

Now, employees who previously did not have health care coverage will be able to purchase the coverage on-line from one of the exchanges. There are several plans to choose from and it will take careful examination in order to choose a plan which is right for the employee. This would include a choice in the amount of co-payments and deductibles to be applied to the medical services.

Many of the services for medical care will include a deductible or co-payment, with the exception of some services for women. These services include preventive services such as, mammograms, screenings for cervical cancer, prenatal care, diabetes, obesity, breast cancer, and heart disease, and other services which pertain to the care of women. In these cases, co-payments and deductibles would not apply.

Additionally, women will not be charged higher rates than men for health care. To accommodate the people who will be visiting community health care centers, there will be an increase of $11 billion for funding of these centers.


Credit Card Swipe Fees Cut in Half

October 5, 2011

Consumers will be happy to know that the Federal Reserve has set limits on the rates for credit card swipe fees that the banks have been charging the retailers, effective October 1, 2011.

As a result, credit card processing fees can no longer exceed twenty-one cents per transaction and 0.05% of the purchase price. This is much lower than the previous rate of from 1% – 2% of the transaction. The only drawback to this is that the banks will charge the maximum fee for purchases on small ticket items.

This new ruling is expected to save consumers about $7 billion and to help stimulate the economy. In retaliation, however, the Bank of America is charging a $5.00 monthly fee on debit cards and the other banks may follow suit.

This is one of the last regulations that the Federal Reserve Board is enacting in an attempt to regulate the banking industry. There have been many reforms over the last two years which were enacted to reduce the fees that consumers were paying for banking services. However, the bankss seem to create more fees on other products in an effort to recoup their losses.

Should Illegal Immigrants be Allowed to Attend College

October 4, 2011

There are so many illegal immigrants in the United States, more than we can imagine, yet so many of them are living their lives as if they were legal residents.

They shop at their own stores and do business with people from their own country whenever possible. They come around the Americans, only when they have to acquire something which they cannot acquire from their own people. This is not unusual because many of the immigrants from other countries did the same thing.

The state of Rhode Island attracts so many immigrants because of the many factories that are still operating in the state. There are over two thousand eight hundred factories that employ immigrants, and some may be illegal immigrants. When they are discovered, the illegal immigrants are sent back to their country.

Many of the immigrants also seek jobs in the southern part of Rhode Island, whose history attracts tourists who want to know more about the early settlers of this country. Because of that, there are summer jobs which are available. The immigrants take these jobs low paying and many sign as independent contractors, which eliminates the tax burden for the business owner.

They are required to show documentation that they are working and living legally in the United States, but the paperwork may be false or erroneous. Immigration officials are assigned to investigate them and when the immigrants discover that they are being investigated, they flee to another state. Disagreements and arguments with spouses is usually the cause of the investigations.

Now, the State of Rhode Island has granted permission for illegal immigrants to attend college at a reduced rate in an attempt to collect much needed revenue for the state. The parents of students who attended high school for three years in Rhode Island and received a degree are eligible for this opportunity. There is a stipulation, however, the immigrants must apply for legal status as soon as they are able or face losing the tuition.

Although the lawmakers argue that allowing illegal immigrants to attend college would contribute new to a stronger work force and improve the quality of life in Rhode Island, many legal residents who are struggling to pay tuitions oppose this new ruling.

It will be interesting to see how many of the illegal residents attending colleges actually complete their studies and how many of them secure jobs after they graduate.

Are Coupons a Good Marketing Tool?

October 2, 2011

If you are considering offering a coupon to you customers to increase your sales, think again. Internet coupons are not as profitable and popular as they used to be.

Business owners are reporting that people are calling in to ask if the company would match a coupon from another company. Because of the many deals available, there is no loyalty among the customers. If a customer took advantage of a price discount, they often would find a similar offer with another company and buy the same product or service again. Business owners have found that the people who use coupons are hard to please and complain about their purchases on the review sites on the Internet.

Groupon, which is the largest coupon site on the Internet, is now facing financial woes, because their business is no longer profitable. Eighty percent of the people who subscribed to the site never made a purchase. At one time, Google offered Groupon $6 billion dollars to purchase the company, but they turned it down, believing the company is worth more.

Compounding its troubles is the appearance of copycat coupon sites which have saturated the coupon market making it difficult for Groupon to make a profit. These copycat sites have closed, reformulated, or merged and Facebook and Yelp are no longer interested in entering the market.

Although the daily deal coupons do create brand awareness, they are not cost-effective, because the coupon site has to share the profits with the merchant. The future of Groupon is uncertain as they struggle to make profits.

Marketing Mistakes

July 22, 2011




Although many retailers are moving their operations across the seas, they can still avail themselves of the opportunities to market their businesses on-line. Shoppers have become more sophisticated and willing to shop on the Internet, now that more safety measures are in place. Many of the on-line shopping carts are encrypted, making them less vulnerable to identity theft.

Read more: Marketing Mistakes.

Diversity Training Seminar

June 30, 2011

Gail Cavanaugh’s Communication Solutions will hold a Diversity Training Seminar for multinational managers and employers of English Speakers of other languages. The event will be held at the St. Clare Home,* on July 27, 2011 from 9 am until 5 pm. The St. Clare Home is located at 309 Spring Street across from the Newport Public Library. No parking is allowed on the premises. Street parking is available.

*Please note that the St. Clare Home is the venue for the event only and does not necessarily endorse the views of the attendees or planners of the seminar.

Lectures, workshops, and discussions,bring an awareness to managers of the effects that globalization has had on the workforce and how managers can prepare themselves to embrace the changes. The fee for the seminar is $75.00 and interested parties may R.S.V.P. at 401-835-8268 and make your payments at the website. Lunch and refreshments will be served. Free shakes!