Blog Talk Radio – Substance Abuse and Mental Illness on the Job

January 5, 2015


As families become more stressed due to the struggles of a single parent trying to maintain a household and a full-time job, heads of households become more at risk for mental illnesses and substance abuse.
Many employers are discovering the benefits of addressing the issues of mental illness and substance abuse on the job by offering assistance through the Employee Assistance Programs. Find out more about this program which airs tomorrow and sign-up to receive notices of more programs below:

Breast Cancer Awareness Month – The Need to Prepare for Medical Costs

October 18, 2014


Cancer is a very devastating disease which can change many people’s lives because of the astronomical costs in treating it. Unfortunately, many women do not have adequate health coverage to cover their expenses. As a result, many resort to fundraising to accumulate the funds necessary to undergo treatment.

The average costs for breast cancer treatment total $128,556 over approximately a one and one half year treatment period, which includes doctors’ visits, outpatient visits, hospital visits, and inpatient stays, for women who received chemotherapy as their primary source of treatment. For women who have health insurance, especially now with the high deductibles which employees must pay under the current Health Care Reform, many will have substantial out of pocket costs which are not covered under their health care plans. As a result, many will have to resort to fundraising, borrowing money from family, friends, and employers, or paying with credit cards. If the patient happens to be a business owner, their businesses may suffer, causing bankruptcies because of the high medical costs.

One alternative to seeking funding for the balances which are not covered, is to purchase voluntary or supplemental coverage through an employer. Cancer policies are available which would cover most, if not all of the out of pocket costs not covered under health insurance policies. The out-of-pocket costs would be deductibles and co-payments.

Additionally, a short term and/or a long term disability policy would replace a portion of income lost during treatment. In some cases, the cost of premiums for these policies would be waived during the period of disability enabling the patient to keep the policy in force.

In order to ensure that there is adequate funding in the event that an employee or family member develops cancer, the employee must plan to have the coverage before the diagnosis is made. The employees would not be able to secure coverage for cancer after receiving the diagnosis from the doctor. It is impossible for us to know whether or not we will develop cancer during our lifetimes. Purchasing the coverage and ensuring that we have adequate disability insurance in addition to a cancer indemnity policy while we are healthy, would greatly reduce the stress in determining how we will pay for the cost of medical care.

Once employees purchase a supplemental or voluntary benefits plan to cover out-of-pocket costs or a portion of income, it is important to keep the policies in force. Once they lapse, it may be impossible to reinstate coverage. Most policies have a waiting period during which coverage would not be affordable if the employee is diagnosed, receives medical care or advice before the policy’s effective date. Proper planning is necessary to keep the policies in force.

In conclusion, taking surefire steps to protect one’s income and business through disability policies and cancer policies will enable employees to receive and pay for proper medical care, as well as to continue supporting the family.

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New Radio Show for Business Owners

December 4, 2013


Business owners need access to information about their businesses which will help them to make important decisions about their businesses.  One of those decisions involves providing protection for the business against financial ruin.

Since we work hard for the business to provide an income for our families, we would need to be able to keep abreast of all the changes which could affect the business, as well as to learn more about maintaining a cash flow for the business.

In response to that need, I will be hosting Dollars fro Business radio show beginning on Wednesday, December 12, 2013 at 7:00 am on Blog Talk Radio.  I will be discussing ways to manage the business owner’s risk to exposure to loss of cash flow for the business through insurance plans, such as life, health, and disability insurance.

If you are preparing to go to work or driving on the way to work, tune into the show for the latest discussions on asset protection for the business.  Just click onto the above link and be ready with an open mind.

Health Care Reform & The Responsibilities of the States

August 12, 2013


As we all now, one of the issues of the Obama administration has been health care reform. October 1st is a very important date for all business owners and their employees. This is the date that employers must meet their requirements under the new Health Care Reform. Although the health care mandate has been passed by Congress, there is still some uncertainty as far as how it will be enforced.

Approximately twenty-four states have passed legislation to enforce the changes in the laws and to regulate the insurers in their states, while the remaining states have not yet made decisions to enforce the laws. Some of the states may not be ready by the October 1st deadline to comply with the new health care reform.

This would be unfortunate for the consumers residing in states which have not enacted the enforcement of the reforms. These consumers could face not being able to take advantage of the benefits they may be entitled to receive. However, if the states do not act n the October 1st deadline, they risk the federal government moving in to regulate the insurers and to enforce the health care reform laws.

Making a Career Change

August 22, 2012

After several insurance companies approached me over the last several years, I have made a decision to return after being away from the industry for fourteen years. I worked as an insurance agent and registered representative for five years, servicing families, individuals, and businesses and assisting them in planning for their financial security. I acquired an account with one of the local school departments and provided tax sheltered annuities for the teachers.

It was hard work, but very challenging in prospecting for business. Most of my business consisted in helping families to plan for retirement, for college funding and protecting their incomes in the event of premature death. The only difference in what I did back then and what I am doing now is that I am an independent agent, selling many products, rather than being employed as a captive agent with a major insurance carrier. This gives m more flexibility in finding the right products for my prospects.

There are many financial issues affecting the Baby boomers and one is that we are living longer and will require more income as a result. Because of the problems we have had with the economic crisis, many people are averse to investing their money and will need guidance in finding the right vehicles to accumulate money for retirement. Women in particular have been shying away from investing their money, have been lax in paying off credit card balances, and have not been taking steps to accumulate an emergency fund. Women will need to accumulate more income because their life expectancy is longer than men and some may have been out of the workforce and therefore, may not have had enough time to accumulate money for Social Security. Housing prices have decreased over the last year making it possible for young couples to purchase homes. These couples will need mortgage protection to protect a deceased’s family in the event of an untimely death. These are areas in which I will be able to assist them.