Is a Pregnancy in Your Future? Get Covered During Open Enrollment

get-covered-best-surprises-pregnancy-healthnet-open-enrollment-2017Thinking about getting pregnant in 2017? Call for more information on Open Enrollment 2017 now to ensure you and your baby have the medical care you’ll need for a healthy baby and safe delivery!

When you’re pregnant, you have to take extra special care of yourself. This “special care” includes getting in to see the doctor on a regular basis. This is the best way to ensure that you and your baby both stay healthy.

THE IMPORTANT FACTS: Open enrollment for 2017 is here! This is the time you can enroll in – or make a change to – your health coverage. Enroll by December 15, 2016, if you want new coverage to start January 1, 2017.

Individuals, families and small businesses may apply for coverage through the new health insurance marketplaces during open enrollment.

A Healthy Pregnancy with Health Net:

Check in with your doctor as soon as you think you might be pregnant. Stick to the scheduled plan of regular checkups throughout your pregnancy for both your baby’s health and a safe delivery. The regular doctor’s visits throughout the pregnancy are intended to give the doctor every opportunity to identify any potential issues early so they can be treated as quickly and efficiently as possible.

Once the baby has been successfully delivered, the doctor’s visits continue. New parents should take their baby in at least once more within 3-8 weeks. At this appointment, new parents are encouraged to talk to the doctor about how to care for new moms who may be experiencing elevated levels of sadness, postpartum depression, etc. There is help and your doctor can make sure you have what you need. These doctor’s visits make sure that you and your baby both get off to the best (and most healthy) start possible. Keeping your own health in mind is part of being the best mom you can be!

In fact, Health Net™ believes this so strongly that they offer 24/7 access to a maternity nurse until your baby is 6 weeks old! Talk to you local agent to find out how you can take advantage of Health Net™ coverage and benefits.

Making sure you have access to all the necessary care is much easier if you are on the appropriate Health Net™ plan, contact your 2017 Elite Health Net™ Agent at DeWitt Risk Management Consultants today to ask about Open Enrollment and how you can be covered by January 1st, 2017!

For more information about Health Net open enrollment or any other health insurance or life insurance needs, contact everybody’s favorite full service broker and health insurance specialist at DeWitt Risk Management Consultants, LLC.

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It’s Time to Take Advantage of Open Enrollment 2017!

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As a 2017 Elite Agent for HealthNet, DeWitt Risk Management assures you that taking advantage of Open Enrollment is the BEST way to make sure you are “covered” in 2017. In fact, acting now can put you ahead of the game when it comes to next year’s New Year’s resolutions to get healthy and take care of yourself. With the right health insurance coverage, you will be able to depend on an excellent network of doctors and healthcare providers so no matter what comes at you, you’re ready for it. As Health Net™ likes to say, “Whoever you are, whatever your health care needs – we are your Health Net™.”

THE IMPORTANT FACTS: Open enrollment for 2017 is here! This is the time you can enroll in – or make a change to – your health coverage. Enroll by December 15, 2016, if you want new coverage to start January 1, 2017.

Individuals, families and small businesses may apply for coverage through the new health insurance marketplaces during open enrollment.

Seeing a doctor regularly is one of the best ways to make sure that you stay healthy! And with Health Net™ you’ll find you have the opportunity, the information and the reminders you need to make that happen. With regular checkups and preventive care, your doctor will be able to find and treat problems early with a higher chance for successful treatment. Keep your own health in mind so you can be the best person you can be and live your best life!

For more information about Health Net open enrollment or any other health insurance or life insurance needs, contact everybody’s favorite full service broker and health insurance specialist at DeWitt Risk Management Consultants, LLC.

Should You Be Excited that It’s Time for Open Enrollment?

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The short answer is YES, you should! If you just really enjoy long answers, if you have questions about exactly what “Open Enrollment” is or if you’re wondering why it affects you, then read on. Technically speaking, “open enrollment” in terms of today’s insurance industry refers to a time period each year when you can sign up for health insurance. They are officially “open” for enrollment during this designated time period. Those who want insurance, but don’t sign up during the open enrollment period, probably can’t sign up for health insurance until the next (annual) open enrollment period.

THE IMPORTANT FACTS: Open enrollment for 2017 is here! This is the time you can enroll in – or make a change to – your health coverage. Enroll by December 15, 2016, if you want new coverage to start January 1, 2017.

Individuals, families and small businesses may apply for coverage through the new health insurance marketplaces during open enrollment.

Individuals and Families: Enrollment Period, Enrollment Dates, and Effective Dates of Coverage

The annual enrollment period for individuals and families is November 1st through January 31st.

Individuals and families who enroll on or before December 17th will have coverage effective January 1st.

Individuals and families who enroll on or before January 31st will have coverage effective February 1st.

Small businesses: Small Business Health Options (SHOP)

SHOP is a new approach to offering health coverage that puts businesses in control of their own health insurance budget. At the same time, it allows employees to choose from a number of affordable, quality health plans from private insurance companies including Health Net.

Through Small Business Health Options (SHOP), businesses can also be eligible for tax credits that can be an effective offset to the cost of providing health insurance to employees. Once enrolled, the group’s coverage and premiums are “locked” in for a year. For 12 months, they will not change.

If you still have questions about open enrollment or if you need assistance getting enrolled before you miss your window, get in touch with your full service brokerage and health insurance specialists at DeWitt Risk Management Consultants, LLC today. As a 2017 Elite Agent with Health Net we can help you figure out exactly what you need and get it done as quickly as possible. Because you shouldn’t have to stress about it for even one more hour, much less one more day!

For more information about Health Net open enrollment or any other health insurance or life insurance needs, contact everybody’s favorite full service broker and health insurance specialist at DeWitt Risk Management Consultants, LLC.

 

Millennials Continue to Reject Obamacare In Favor of Tax Penalties?

millennials refusing obamacare dewitt riskThe media seems to find something new to say about the Millennials everyday. (And the general public seems to find the energy to chuckle at the new Millennial jokes everyday – even the Millennials themselves get a good laugh). The be honest, there are some really funny ones floating around out there. The memes and gifs can give you a stitch in your side. And the musical parodies are on par. (So much so that I can’t resist giving you a link to a recent favorite around here). If that doesn’t at least make you smile in exasperation, I don’t know what will. Then there are the bits and pieces of Millennial news that aren’t as funny; like the Obamacare issue.

Interesting fact: Younger people (those dang Millennials…yah, you know who you are) are still avoiding purchasing Affordable Care Act (ACA) compliant plans. In other words, Millennials are still rejecting Obamacare – seemingly in favor of the tax penalties.

What is Making Millennials Accept All Those Tax Penalties When They Could Just Sign Up for ACA Compliant Plans

This unexpected trend has been holding steady since the ACA passed. It was expected that the first people to enroll would be those who were in need of the most care – or the most immediate care. That, of course, went as planned. Yet in order for the program to work, the younger and healthier people would need to start signing up shortly thereafter. This step was a vital part of the overall success of the Act since it would balance out the costs.

Yet younger and healthier peeps (a.k.a. Millennials) simply aren’t enrolling as officials expected. (Way to do exactly the opposite of what people predicted in the belief that you’re bulletproof). Due to the lack of healthier, younger enrollees, healthcare insurance companies are experiencing financial losses.

Some may be tempted to chalk the refusal to comply up to a rebellious streak in this particular generation, but Millennials are actually citing cost and ignorance as the reasons behind their actions (or non-actions, in this case). This explanation is supported by the contradictory facts that while they aren’t willing to accept Obamacare, they are willing to pay tax penalties for not signing up! It’s like my grandmother’s favorite saying, “If you don’t have time to do it right the first time, how are you going to have time to do it over?” Except in this case, it’s in reference t money, “If you don’t have enough money to pay your insurance premium, how are you going to have enough money to pay the tax penalties?”

So basically…young, healthy people aren’t signing up for Obamacare because they can’t afford another “bill,” but in doing so they are willingly accepting the fact that they will be subject to tax penalties. There’s a pretty big hole in this logic – some would call it ignorance, but then, this stuff can be confusing. And it’s particularly confusing for this age bracket that has little to no basic health insurance knowledge. It’s really not shocking that it can be a struggle to understand what’s going on; to know which plan is the most financially beneficial.

To be fair, Millennials are participating in the healthcare initiative, but they’re far less than enthusiastic. The level of enthusiasm would be better described as grudging participation. Recent studies suggest that 62% of people feel their health insurance premiums are too high and that they can’t afford to pay them. 73% say their annual deductibles are too high. 27% of Millennials have no health insurance coverage and are currently opting to pay penalties instead.

Let’s consider a few of the major issues that make Millennials hate talk of the health insurance industry:
  • Fear of High Prices
  • Poor Health Insurance Literacy (What is a deductible? A premium? Coinsurance?)
  • Many, Confusing Choices
  • They Still Feel Bulletproof
  • Beliefs that Penalties Are Cheaper Than Coverage (While Penalties Continue to Increase)
At DeWitt Risk Management – we acknowledge that the struggle is real. But at the same time, (and we’re going to sound like your favorite, annoying teacher here) Millennials are our future. So we take the responsibility to explain complicated policies and terminology seriously. We can’t accept that America’s workforce is simply left at risk and unable to take care of their own healthcare and insurance needs. But then…that’s what we’re here for. It may surprise all the Millennials out there, but finding affordable care that is actually affordable for the young and healthy is really possible. And it’s our specialty.
In fact, we’ll just get right to the point of this entire discussion without further messing around – there is a solution to every “issue” listed above and the solution is DeWitt Risk Management. Get in touch. You don’t need to know everything about the healthcare and health insurance industries to get the best prices on the best coverage. That’s what we’re here for!

Do You Spend More on Fast Food than You Do On Life Insurance?

life insurance awareness month, life insurance or fast food, do you have enough life insurance, dewitt risk management2015 Life Insurance Awareness Month

This year marks the 12th anniversary of Life Insurance Awareness Month (LIAM), an effort to raise awareness among consumers and producers about the need for life insurance. Americans by and large aren’t saving much money and many households are still mired in debt. Many see value in life insurance, but less than half have individual life insurance policies.

Now more than ever, it is vital that consumers protect their financial security. Life insurance has been providing this kind of protection to Americans for more than 200 years.

BUT THE TRUTH IS: More than 40% of Americans have no life insurance, according to the 2015 Insurance Barometer Study by Life Happens and LIMRA summarized below.

2015 Insurance Barometer Study

For the fifth year, Life Happens partnered with LIMRA to produce the Insurance Barometer Study, which looks at consumer trends and consumers’ perceptions regarding life insurance, retirement and their financial well-being.

Among the findings, cost is the reason most Americans give for not owning life insurance, yet 80% of consumers misjudge the price for term life insurance, with Millennials overestimating the cost by 213%, and Gen Xers overestimating the cost by 119%.

“We’ve consistently seen over the last five years that consumers think life insurance is more expensive than it really is,” says Marvin Feldman, CLU, ChFC, RFC, President and CEO of Life Happens. “We [want] to help educate the public about how affordable life insurance can be.”

The study also found that nearly one-third (30%) of Americans believe they need more life insurance and more than 2 in 5 (43%) say they would feel a financial impact within 6 months if the primary wage-earner died. However, the majority of Americans (54%) say it is unlikely they will purchase life insurance within the next 12 months.

In addition, most Americans continue to put other financial priorities ahead of purchasing life insurance:

  • 29% of Millennials cited saving for vacation
  • 23% Gen Xers said paying for recreational activities such as going out to eat, movies or shopping
  • 49% of those 65 and older cited paying for expenses such as Internet, cable and cell phones

That’s why each September Life Happens coordinates Life Insurance Awareness Month. This industry-wide campaign is aimed at educating Americans about the importance of life insurance and helping them get the coverage they need.

For more information on life insurance and how it can be the best purchase you make this month (or this year) get in touch with the Arizona life insurance experts at DeWitt Risk Management Consultants today.

Zane Benefits’ Pre-Tax Premium Payment (PPP)

DeWitt Risk Management can show you how to offer every employee the chance to save 20-40% on the personal health insurance coverage of their choice. It’s the perfect solution for companies that don’t offer group health insurance coverage to their employees.

If you don’t offer group insurance benefits to your employees, you’re not alone. According to the Employee Benefit Research Institute, more than half of employees don’t have group health benefits. (47% of employees aren’t offered group health coverage and 15% aren’t eligible for employer health coverage).

Problems preventing companies from offering health insurance coverage to their employees may seem impossible to overcome:

  • Cost
  • Participation Requirements
  • Turnover
  • Part-Time Help
  • Seasonal Help
  • Multiple Locations

But there is a solution. It’s Zane Benefits’ Pre-Tax Premium Payment (PPP).

  • Extremely Low Cost
  • Zero Participation Requirements
  • Increased Employee Retention
  • Both Full Time and Part Time Employees Eligible

PPP reduces the amount of money your company pays in FICA tax AND increases employee retention by providing a tax savings for your employees. PPP (Pre-Tax Premium Payment) is a Section 125 (similar to the 125 doc many companies may already have in place that allows pre-tax deductions of group premiums). PPP enables your employees to purchase their own personal health insurance coverage with tax-free dollars. By calling or emailing DeWitt Risk Management to implement PPP you can help your employees save between 20-40%. They obtain the savings simply by paying their own personal insurance coverage premiums with pre-tax dollars rather then after-tax dollars. Utilizing PPP also gives employees the benefit of being able to choose the personal health insurance coverage that is best for their individual situation and health needs. The benefits even extend to supplemental coverages (dental insurance, vision insurance, etc.)

In general terms, Zane Benefits’ PPP allows employees to select a pre-tax salary reduction. This amount can then be reimbursed back to the employee after their approved personal health insurance premium has been paid. Paying personal/family insurance coverage premiums with pre-tax dollars means savings that coincide with each employees tax bracket (typically a savings of 20-40%). This reduction in taxable income for each of your employees results in reduced FICA taxes for the company so PPP provides financial benefits to both the employer and the employee.

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Consider the following example:

A company named We Hire People has 25 employees. One of their employees is named Sally Worker. Sally Worker discussed her family’s specific health insurance coverage needs with an Individual Product Specialist at DeWitt Risk Management. After choosing the specific health insurance coverage that would best suit their needs, Sally Worker had a monthly health insurance premium of $500. Her income tax bracket is 25%. In this particular situation, Sally Worker will save $125/month by paying her individual health insurance coverage premium with pre-tax dollars through Zane Benefits’ PPP. With monthly savings at $125, Sally Worker will benefit from an annual savings of $1,500. Using this example, We Hire People gets FICA savings of $39.25/month (7.65% monthly savings). The annual FICA savings received as Sally Worker participates in Zane Benefits’ PPP adds up to $459.00. If we use Sally Worker’s savings as an average for the rest of We Hire People’s 25 staff members, we can estimate that offering employees the chance to save through Zane Benefits PPP provides FICA tax savings of $11,475.00 per year for the company.

Are you ready to calculate your company’s potential annual FICA tax savings? Give DeWitt Risk Management a call. We can provide each employee with the opportunity to calculate their potential savings by paying current personal insurance premiums pre-tax vs. after tax as well as providing employees without individual health insurance coverage with personal consultations to discuss potential coverages that suit their budgets. Offering PPP to your employees could mean substantial savings for your business.