Q.  What is insurance underwriting?

A.  The process the insurance company goes thru to review your medical records.

Q.  What is a pre-x health condition?

A.   A condition that you have been diagnosed with and probably received some type of  medical treatment.

Q.  Can I be refused health insurance due to a pre-x health condition?

A.  Yes, if you are trying to get an individual plan the underwriter will determine acceptance or denial based on a pre-established medical underwriting guide. 

Q.  If I am refused coverage from one insurance company does that mean all of them would deny me?

A.  No, all insurance carriers have different guidelines for some areas of health.  Example:  Most insurance carriers will deny someone that has been diagnosed diabetic.  But there are a few that will accept the person if otherwise healthy.

**This is when it will prove to be helpful if you are working with an independent agent that has most of the major insurance carriers available to them and their clients**

Q.  How many employees do I need to employ to apply for group health insurance?

A.  I currently write groups of  two and up.

Q.  As the employer am I required to provide health insurance?

A.  No, regardless of the size of your company.  It is a benefit that helps you to recruit and retain good employees.

Q.  As the company owner if I decide to start a group health insurance plan am I required to pay part of the cost?

A.  Yes, the employer is required to pay 50-75% of the employee only cost.  The employer is not required to pay any of the cost for the dependents.

Q.  If the dependents are healthy individuals with no pre-x conditions should they join the group insurance plan?

A.  Normally I would say to shop around.  Group insurance is normally much higher in cost and remember the company is not paying any portion of the premium for the dependents.  Shop; compare; and decide.

Q.  A medium sized company of twenty-five employees.  When choosing which health plan to offer is having a hard time deciding.  What would you advise?

A.  Offer some choice, offer two health insurance plans in the benefit package to the employees.  Maybe a high deductible plan and a low deductible plan. 
Let the employee decide based on premium and benefits.  

Q.  What does Long Term Care Insurance pay for?

A.  Home Health Care, Rehab Center , Assisted Living Facility, Adult Day Care, Nursing Home, Respite Care and more depending on the policy.

Q.  Medicare will pay for my care in the Nursing Home or Home Health care, right?

A.  When Utilization Review certifies the patient as “custodial” Medicare will no longer pay for the care.  Example:  Stroke victim, age 55,  on life support, not expected to get any better.  Utilization Review could certify the patient custodial within the first 30 days following the stroke.  The patient could live for several years depending on other factors.   Exhausting savings and assets.

Q. When should I purchase Long Term Care Insurance?

A.  Anytime after age 18…the sooner the better.  Rates are calculated based on age and health status.  Lock in on the younger ages and save thousands of dollars.

Q.  Isn’t Long Term Care Insurance for “old” people?

A.  No, the protection is needed for all ages.  You can have an accident, stroke, disease, etc. at any age. 

Q.  Why do I need Long Term Care insurance…my children can take care of me.

A.  Would you want your children to bath you, feed you, and clean up after you?  Would you want your children to give up careers, vacations, etc. to care for you?  Give your children the best gift you can give them, peace of mind with a good Long Term Care  Insurance plan.

Q.  Who pays for the care if I do no have Long Term Care Insurance?

A.  Medicare and all other health insurance companies stop paying when you are custodial.  Medicaid might pay for nursing home care if you qualify, based on income.  Normally the patient or the family pays the bill from savings or assets.

Q.  Can I use the coverage in another state?

A.  Yes, normally all policies are portable in the United States .  Check this provision prior to purchasing the Long Term Care Plan.

Dental

Q.  What should I look for when purchasing a dental plan?

A.  Pre-x clause, maximum annual benefit, network, percentage of payment.

Q.  Can individuals purchase dental insurance?

A.  Yes, plans are available for individuals as well as groups.

Q.  Why would I purchase Term Life Insurance?

A.  It is affordable.  You are able to purchase the protection you are looking for and still keep in your budget.  At certain periods of your life you require more protection.

Q.  My life insurance has cash value accumulated.  Can I use part of the cash value? 

A.  Yes, refer to your policy specifically for the details.  Normally you can borrow from the cash value.

Q.  I purchased a whole life policy five years ago.  Due to a recent job change, I can not afford the premium for the life insurance.  What are my options?  

A.  They will vary depending on your specific policy.  Normally you will have a few options.  You might be able to purchase a term policy with your cash value without additional underwriting.  You might be able to change the face amount of your whole life, lesser coverage will have a lower premium.