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Re: ACA insurance Q... for 26 yo child coming off my insuran

for a young, healthy adult like her, is it generally better to get a low premium, high deductible plan (i think?) or a high premium, low deductible plan There isn't really a right answer - it depends on her risk tolerance, how much medical care she thinks she will likely use in the next year, and h...
by BruDude
Wed Dec 17, 2014 2:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: ACA insurance Q... for 26 yo child coming off my insurance
Replies: 8
Views: 1191

Re: Medical Necessity and the Insurance Appeals Process

Usually the insurance company will approve an appeal if they receive a written letter from the physician stating that the recommended treatment is medically necessary. Not true at all. "Medical necessity" is an insurance term, not a medical term. The insurance decides what is "medica...
by BruDude
Tue Dec 16, 2014 2:32 am
 
Forum: Personal Finance (Not Investing)
Topic: Medical Necessity and the Insurance Appeals Process
Replies: 15
Views: 1138

Re: Medical Necessity and the Insurance Appeals Process

Usually the insurance company will approve an appeal if they receive a written letter from the physician stating that the recommended treatment is medically necessary.
by BruDude
Sun Dec 14, 2014 6:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medical Necessity and the Insurance Appeals Process
Replies: 15
Views: 1138

Re: Advice Long term disability insurance and mental health

Do you depend on your income to support yourself? If so, then yes, you need DI. You will need to get a specific diagnosis and recommendation for treatment before any insurance company will consider offering coverage. They will probably want to see at least 6 months of treatment and follow-up if the...
by BruDude
Sat Dec 13, 2014 8:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Advice Long term disability insurance and mental health
Replies: 8
Views: 819

Re: Advice Long term disability insurance and mental health

Do you depend on your income to support yourself? If so, then yes, you need DI. You will need to get a specific diagnosis and recommendation for treatment before any insurance company will consider offering coverage. They will probably want to see at least 6 months of treatment and follow-up if ther...
by BruDude
Thu Dec 11, 2014 11:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Advice Long term disability insurance and mental health
Replies: 8
Views: 819

Re: Affordable Care Act income levels for subsidy?

Play around with www.healthsherpa.com - makes it pretty easy to see what the subsidy would be in your zip code based on your income and family size.
by BruDude
Wed Dec 10, 2014 3:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Affordable Care Act income levels for subsidy?
Replies: 6
Views: 627

Re: Which HSA eligible Health Ins plan to select

The income cutoff for a family of 4 is $95,400, so if your income is only slightly over that, maybe you can take another deduction or make a retirement contribution to get it under the limit. Out of those two policies, I would do the Silver $7300 plan for an extra $100/month. Really just depends on ...
by BruDude
Wed Dec 10, 2014 2:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Which HSA eligible Health Ins plan to select
Replies: 1
Views: 174

Re: HDHP: In-network vs self-pay

$250 is an incredibly high price for an insurance negotiated price of an office visit. Are you sure that's the negotiated price or the "regular" price? Keep in mind that if you don't use a network doctor, the amount paid will not get credited towards your deductible either.
by BruDude
Tue Dec 09, 2014 2:58 am
 
Forum: Personal Finance (Not Investing)
Topic: HDHP: In-network vs self-pay
Replies: 6
Views: 502

Re: Use a Health Care Insurance (ACA) Broker Advise?

Cost is same with or without a broker. So, if you have one you like you might use him/her. X2 A good independent agent should be able to help you figure out the best plans for your needs. Try getting a recommendation from a friend if you can't find someone you want to work with online. If you're bo...
by BruDude
Mon Dec 08, 2014 12:06 am
 
Forum: Personal Finance (Not Investing)
Topic: Use a Health Care Insurance (ACA) Broker Advise?
Replies: 4
Views: 379

Re: Term Life - Principal Financial good company?

Yes, they are a good company. Competitive pricing and underwriting.
by BruDude
Sun Dec 07, 2014 6:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Term Life - Principal Financial good company?
Replies: 6
Views: 421

Re: Term life questions

Almost every company listed on Term4sale has an A or A+ financial rating from AM Best. No reason to choose a company with less than an A rating unless there are special circumstances (usually relating to underwriting/health history).
by BruDude
Sun Nov 30, 2014 9:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Term life questions
Replies: 24
Views: 2169

Re: Term life questions

I'm 39, wife 38. I would use CA St. disability insurance, and my wife would use DI through Calpers, as she is employed for the State. I wouldn't rely on the CA state DI, it only provides benefits for a maximum of one year. http://www.edd.ca.gov/Disability/FAQ_DI_Benefits.htm The benefits of an indi...
by BruDude
Sun Nov 30, 2014 6:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: Term life questions
Replies: 24
Views: 2169

Re: HMO out of network question

I would suggest contacting an independent agent in your area, or that knows the plans in your area. Every insurance company is different.
by BruDude
Wed Nov 26, 2014 11:41 am
 
Forum: Personal Finance (Not Investing)
Topic: HMO out of network question
Replies: 17
Views: 1134

Re: Wisdom: When to drop disability insurance?

How's your health? How much is the monthly benefit? Are you sure the benefit is only to age 65? If a disability occurs after age 60, most policies will pay a benefit for 2-5 years.
by BruDude
Tue Nov 25, 2014 12:59 am
 
Forum: Personal Finance (Not Investing)
Topic: Wisdom: When to drop disability insurance?
Replies: 11
Views: 1224

Re: My Health care monthly premiums doubled after ACA

We just got the letter about our new premium for 2015 if we stay on our current plan (Kaiser Permanente, in Colorado). Apparently it's going down by 7%. Very interesting, Mike! We are with Kaiser in CO too, and our premium went up 15%. We did get a letter from the CO Exchange that, on average, prem...
by BruDude
Mon Nov 24, 2014 5:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: My Health care monthly premiums doubled after ACA
Replies: 46
Views: 4134

Re: Appropriate amount of term life insurance

Wife should get $1.5 million term life insurance (10x annual income + $300000 to cover for outstanding mortgage) Husband should get $500,000 term life insurance (his value as a stay at home parent valued at $50,000 annually) Child has no need for life insurance; he does not produce any income This ...
by BruDude
Mon Nov 24, 2014 11:06 am
 
Forum: Personal Finance (Not Investing)
Topic: Appropriate amount of term life insurance
Replies: 10
Views: 1098

Re: My Health care monthly premiums doubled after ACA

As an agent, I am seeing most of my clients with increases of 50%+, some more than 100%. Here' a list of some of my clients (names deleted) with January 2015 renewals where they changed from a pre-ACA plan to an ACA-compliant policy, straight from BCBS. For the record, the old policies had better be...
by BruDude
Sun Nov 23, 2014 3:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: My Health care monthly premiums doubled after ACA
Replies: 46
Views: 4134

Re: 20 Year Term Life Policies

I wish to remind you that many people are happy with life insurance that they purchased until they die. It is the heir that needs to worry about which company you chose. Check into which companies are most likely to promptly pay, and which have loopholes or high denial rates. For example: From what...
by BruDude
Wed Nov 19, 2014 1:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: 20 Year Term Life Policies
Replies: 14
Views: 1704

Re: 20 Year Term Life Policies

From a Banner Life policy: "Statements may be used to contest the validity of this Policy or in defense of a claim only if they are contained in the application or in an endorsement or amendment, and a copy of that application, endorsement, or amendment is atached to, or considered to be attach...
by BruDude
Tue Nov 18, 2014 9:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: 20 Year Term Life Policies
Replies: 14
Views: 1704

Re: ACA & HSA question

I am leaning toward a cost sharing 94% Silver plan that I qualify for after deductions. My question is can I use HSA funds to pay co pays and deductibles? I was thinking major ones like $400 ER visits etc, not $20 office visits.. This will be the first year in 15 or so that I didn't have a high ded...
by BruDude
Tue Nov 18, 2014 9:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: ACA & HSA question
Replies: 4
Views: 448

Re: 20 Year Term Life Policies

A life insurance policy is a contract with very simple terms. If you die, they pay the death benefit, if you live, they don't. I would like to see evidence of any company ever denying a legitimate death claim that was outside of the two-year contestability period. Some companies argue more over wha...
by BruDude
Tue Nov 18, 2014 6:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: 20 Year Term Life Policies
Replies: 14
Views: 1704

Re: 20 Year Term Life Policies

I wish to remind you that many people are happy with life insurance that they purchased until they die. It is the heir that needs to worry about which company you chose. Check into which companies are most likely to promptly pay, and which have loopholes or high denial rates. For example: From what...
by BruDude
Tue Nov 18, 2014 3:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: 20 Year Term Life Policies
Replies: 14
Views: 1704

Re: First post - Advice on Obamacare HSA

You can choose any HSA admin. I'm on my phone right now but there's at least one that offers Vanguard funds. I'll look it up when I get home.
by BruDude
Sun Nov 16, 2014 12:55 am
 
Forum: Personal Finance (Not Investing)
Topic: First post - Advice on Obamacare HSA
Replies: 7
Views: 742

Re: "Downgrading" to a Porsche

Boxsters before IIRC 2008 (and 911s, but not 911 Turbos or GT2/3s) suffer from IMS failure. It can grenade the engine. There is a fix, but its gonna cost a lot when compared with the value of the car. Besides that the car should be pretty cheap to maintain. The E46 M3 has issues as well (rear subfr...
by BruDude
Sat Nov 15, 2014 3:09 am
 
Forum: Personal Finance (Not Investing)
Topic: "Downgrading" to a Porsche
Replies: 39
Views: 6559

Re: "Downgrading" to a Porsche

Get an E46 M3 with manual trans. Much more fun than an old boxster IMO, looks nicer (old boxsters look outdated if you ask me), and holds it's value very well. Maintenance isn't cheap but shouldn't be too bad of you aren't driving much. The 335 is a great car though so I would probably just keep tha...
by BruDude
Sat Nov 15, 2014 12:49 am
 
Forum: Personal Finance (Not Investing)
Topic: "Downgrading" to a Porsche
Replies: 39
Views: 6559

Re: LTD, taxable or non-taxable

Better to have non taxable benefits. The tax you pay on the value of the premiums should be minimal compared to the money lost through taxes when a claim is made on a taxable policy should you ever need to do it.
by BruDude
Wed Nov 05, 2014 2:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: LTD, taxable or non-taxable
Replies: 3
Views: 439

Re: Resident- Disability Insurance

Hi everyone, I've been pouring over this forum and White Coat Investor and was hoping to get some advice on disability insurance. Specifically, I'm trying to figure out how much monthly benefit I should get right now. I'm a pediatric resident (PGY-2) who's 27 years old and single. I have a couple o...
by BruDude
Fri Oct 31, 2014 4:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Resident- Disability Insurance
Replies: 9
Views: 1286

Re: Self Employed Healthcare and Infertility

Most individual plans won't cover anything relating to infertility. If you have any other HMO plans in your area I would look at those, otherwise you are probably out of luck without a group plan. FWIW, most group plans don't cover it either.
by BruDude
Fri Oct 31, 2014 1:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: Self Employed Healthcare and Infertility
Replies: 9
Views: 1114

Re: Self Employed Healthcare and Infertility

Kaiser is probably your best bet if available on your area. Check with them.
by BruDude
Fri Oct 31, 2014 10:03 am
 
Forum: Personal Finance (Not Investing)
Topic: Self Employed Healthcare and Infertility
Replies: 9
Views: 1114

Re: Life Insurance

Why would you want to buy a policy with increasing non guaranteed premiums when there are so many companies that sell policies with guaranteed level premiums? If there is no chance of the company raising their rates, why not just guarantee them in the first place? There are plenty of good term compa...
by BruDude
Tue Oct 28, 2014 12:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life Insurance
Replies: 15
Views: 1041

Re: % of income spent on life insurance

Did an independent agent shop your case? $2600/year sounds high unless you have some type of medical history that required a lower risk class, in which case the agent should have re-shopped our history with other companies to try and find a better offer. Even a standard risk class should be around $...
by BruDude
Wed Oct 08, 2014 6:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: % of income spent on life insurance
Replies: 19
Views: 1521

Re: New HDHP with HSA and employer contribution

Sounds like a pretty sweet deal. You effectively have a $500 deductible/100% plan.
by BruDude
Thu Oct 02, 2014 5:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: New HDHP with HSA and employer contribution
Replies: 8
Views: 643

Re: Health Care/ACA question about losing coverage

Here's a document written by Kaiser confirming first of the month after loss of coverage. See bottom of page 3:

http://healthreform.kaiserpermanente.or ... DA_LCK.pdf
by BruDude
Thu Oct 02, 2014 5:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Health Care/ACA question about losing coverage
Replies: 19
Views: 1250

Re: Health Care/ACA question about losing coverage

No reason to rely on COBRA if you applied before 10/1, they will have to honor the 10/1 effective date (assuming policy was applied for in September and the existing policy ended in September too). Talk to a supervisor at Kaiser, tell them you have a pending claim and that this needs to be addressed...
by BruDude
Thu Oct 02, 2014 5:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Health Care/ACA question about losing coverage
Replies: 19
Views: 1250

Re: Health Care/ACA question about losing coverage

I was under the impression that if you lose your health coverage (a qualifying event) you can get new coverage effective the next month. My dependents lost coverage at the end of September through my employer's group plan. We applied for coverage last month directly through Kaiser not through the e...
by BruDude
Thu Oct 02, 2014 4:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Health Care/ACA question about losing coverage
Replies: 19
Views: 1250

Re: Help with Disability Insurance

With that pricing I would take the MetLife policy, which is IMO the most comparable benefits to what Guardian offers, and Guardian has the best coverage on the individual market. Answers to your questions: 1. Yes, if you are dependent on your income and/or want to protect your ability to earn a livi...
by BruDude
Mon Sep 29, 2014 12:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help with Disability Insurance
Replies: 6
Views: 602

Re: You may want to rethink the odds of ever needing LTCi

FWIW We bought LTCi at age 50. Paying $2063 per year to cover both of us. Elimination period is 90 days. Lifetime benefit period. Home care and facility care. inflation rider of 5%/year. So far no increases in the premium. Daily benefit has risen to just over $200/day which is enough for a decent p...
by BruDude
Fri Sep 26, 2014 2:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: You may want to rethink the odds of ever needing LTCi
Replies: 89
Views: 9449

Re: You may want to rethink the odds of ever needing LTCi

A one year elimination period is already a pretty large deductible.
by BruDude
Wed Sep 24, 2014 12:28 am
 
Forum: Personal Finance (Not Investing)
Topic: You may want to rethink the odds of ever needing LTCi
Replies: 89
Views: 9449

Re: You may want to rethink the odds of ever needing LTCi

I handled my bachelor Uncle's finances for the last 9 years while he was in a nursing home sans LTC insurance.....he passed in April of this year....how does 425k in expenses over a 9 year period sound. Do my wife and I have a policy......what do you think? With all sympathy for what must have been...
by BruDude
Mon Sep 22, 2014 12:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: You may want to rethink the odds of ever needing LTCi
Replies: 89
Views: 9449

Re: You may want to rethink the odds of ever needing LTCi

I handled my bachelor Uncle's finances for the last 9 years while he was in a nursing home sans LTC insurance.....he passed in April of this year....how does 425k in expenses over a 9 year period sound. Do my wife and I have a policy......what do you think? With all sympathy for what must have been...
by BruDude
Mon Sep 22, 2014 12:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: You may want to rethink the odds of ever needing LTCi
Replies: 89
Views: 9449

Re: Term Care 80 Northwestern Mutual - What to do for Life I

I agree the NML policy appears expensive, but do realize that the term4life website gives you some artifically low rates as well. You likely won't get the best rates shown - some of the agents won't even try for them. JT The NWM policy will be more expensive across all risk classes compared to what...
by BruDude
Sat Sep 20, 2014 3:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Term Care 80 Northwestern Mutual - What to do for Life Ins.
Replies: 15
Views: 1012

Re: You may want to rethink the odds of ever needing LTCi

Very odd the article left out any analysis of home care. Home care is by far the preference, not nursing homes, so this analysis is pretty skewed. And unfortunately those living needs riders typically only cover nursing home and scantily at that. That's the first thing that I thought about. IN-HOME...
by BruDude
Tue Sep 16, 2014 11:48 am
 
Forum: Personal Finance (Not Investing)
Topic: You may want to rethink the odds of ever needing LTCi
Replies: 89
Views: 9449

Re: You may want to rethink the odds of ever needing LTCi

LTCi also pays for home healthcare which can also be a huge cost, especially if someone needs 24 hour care/supervision, which can often be the case with Alzheimer's/dementia. Many people absolutely refuse to put a family member in a nursing home unless medically necessary, so using statistics about ...
by BruDude
Mon Sep 15, 2014 12:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: You may want to rethink the odds of ever needing LTCi
Replies: 89
Views: 9449

Re: contingent beneficiary for life insurance

Set up a revocable trust if you want to be able to make changes in the future. An irrevocable life insurance trust (ILIT) will keep the death benefits outside of the estate, but as the name implies, is irrevocable once it's been executed. The trust documents will spell out who gets what money and wh...
by BruDude
Tue Sep 09, 2014 10:37 am
 
Forum: Personal Finance (Not Investing)
Topic: contingent beneficiary for life insurance
Replies: 9
Views: 779

Re: Life insurance with a smoking spouse

$1M is probably a starting point if he is making $100k+ and you aren't working. Buy the life insurance in the amount that you need and can afford, then re-apply in the future if he ever quits for at least a year. A smoker will pay 2-3x the price for the same coverage as a non-smoker. On a side note...
by BruDude
Mon Sep 08, 2014 12:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life insurance with a smoking spouse
Replies: 38
Views: 1351

Re: Life insurance with a smoking spouse

I would lock in a longer term base because it's just not going to get any cheaper for coverage..... Shop around but your going to have to accept it's not going to be the cheapest option or anything you see advertised..... Maybe work out the bare min you need rather than what you would like to help ...
by BruDude
Mon Sep 08, 2014 12:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life insurance with a smoking spouse
Replies: 38
Views: 1351

Re: Life insurance with a smoking spouse

$1M is probably a starting point if he is making $100k+ and you aren't working. Buy the life insurance in the amount that you need and can afford, then re-apply in the future if he ever quits for at least a year. A smoker will pay 2-3x the price for the same coverage as a non-smoker. On a side note,...
by BruDude
Mon Sep 08, 2014 12:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life insurance with a smoking spouse
Replies: 38
Views: 1351

Re: Buy a 30 and 20 term policy at the same time?

He said when he was shopping to other companies for the 30 year term (Banner, SBLI, Prudential), due to a health condition I was born with they are rating me worse than he believes NM would , since he has had people with my condition and they underwrite on a person by person basis BS. Did he even c...
by BruDude
Tue Sep 02, 2014 1:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buy a 30 and 20 term policy at the same time?
Replies: 16
Views: 1197

Re: Pay more for term you can convert? Prudential vs. Banner

Banner has conversion options too...find a new agent if that's what they told you.
by BruDude
Fri Aug 29, 2014 11:31 am
 
Forum: Personal Finance (Not Investing)
Topic: Pay more for term you can convert? Prudential vs. Banner
Replies: 4
Views: 535
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