Customized Insurance Agency Newsletters, Content, and Marketing

As prescription drug costs continue growing and pricey new pharmaceuticals add to health plans' cost burdens, some insurers are starting to reduce the number of medications they'll cover and are imposing new barriers to accessing the most expensive ones.

A new report found that the statistics are likely worse for individual health plans because they are not subject to the same regulations as Medicare plans are. Here's what's going on and how you can check if your needed medications will be covered next year.

The thought of estate planning can make some people uncomfortable as they look to a future where they are in their golden years and eventually are no longer in the picture.

However, it's wise to bite the bullet since estate planning is one of the most important components of financial preparedness and ensuring that your dependents and heirs are taken care of. Here's how to get it right.

When Social Security was conceived and enacted in the 1930s, Congress set it up as a "pay as you go" scheme. There would be no real funding in advance. Each generation would receive benefits funded by people still working. Then when those people retired, they would receive benefits funded by the next generations of workers, and so on.

What Congress didn't anticipate, was the Baby Boom generation and its effect on the retirement safety net. 

You've decided that buying a long-term care policy for yourself and your spouse is the right choice. The figures, however, are daunting and the premiums exceed your budget. If you are considering long-term care insurance, the option to receive necessary assistance in your own home may be preferable to living in a nursing home.

What are your options? You'd be surprised to find out they are good.

Which is better for you? A Roth IRA or a traditional IRA?

The answer depends on your individual situation and whether you believe income tax rates will be higher or lower in the future. 

We all love our children. And if we're blessed with a legacy to leave behind, we all want them to enjoy it.

But some of our adult children are more mature with handling money than others. Many families have grown-up children who have issues that preclude leaving them any significant assets in a lump sum, as it could quickly be squandered. What can you do if you are worried about leaving one of your heirs a large sum of money?

Annuities have historically been extremely safe savings and income vehicles, though consumers should take care to make sure they understand the terms and conditions of their individual annuities before contributing money.

Here's why.

New Centers for Medicare and Medicaid Services rules that take effect Jan. 1, 2025 will significantly affect employees' decisions on whether to continue staying with your group health plan while eligible for Medicare.

Under changes in Medicare Part D drug plan rules for 2025, once a beneficiary pays more than $2,000 out of pocket for prescription medications, Medicare will fully cover their prescription costs for the rest of the year. Due to the rule changes, if your drug plan's maximum out-of-pocket employee cost-sharing surpasses that amount it will not be "credible" under CMS rules, and that would have long-term repercussions for your senior staff.

It's almost time for year-end small group open enrollment and you need to drive engagement so that your employees can make informed decisions about their health insurance options.

We want to help you help your employees understand all of their options so that they can purchase a plan that is appropriate for their situation. So here is our advice for the open enrollment:

One of the most underused employee benefits available is the "cafeteria" plan ― which can benefit both the employer and the employee.

These plans allow workers to withhold a portion of their pre-tax salary to cover certain medical or childcare expenses. The benefits are free from federal and state income taxes, employees' taxable income is reduced and that means that employers don't have to pay FICA on those dollars.

Cafeteria plans enhance your employee benefits package, while boosting your margins. They have three specific flexible benefits for employees to choose from. This article explains.

As open enrollment is right around the corner, now is the time to make a plan to maximize employee enrollment and help your staff select the health plans that best suit them. You'll also need to make sure that you comply with the Affordable Care Act if it applies to your organization, as well as other laws and regulations.

Here are some pointers to make open enrollment fruitful for both your staff and your organization.

The Equal Employment Opportunity Commission has issued new guidance for preventing harassment on construction industry worksites. 

The guidance, while not binding, can be used as a template for construction firms to implement anti-harassment policies. According to the EEOC, the industry has an especially high incidence of harassment complaints, and "some of the most egregious incidents of harassment investigated by the EEOC have arisen in the construction industry." Here's what the agency recommends.