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Re: Use Broker to buy health insurance?

Doesn't cost you an extra penny to use a broker - get a recommendation from a friend or call around to see if you find an agent you like and use them. They should be independently licensed with the major insurers in your state. You will be thankful when you have help choosing a new plan every year a...
by BruDude
Wed Apr 09, 2014 7:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Use Broker to buy health insurance?
Replies: 2
Views: 218

Re: Term Life Insurance - Young Couple in 20's

I am a big believer in laddering. As your portfolio grows, you need less and less insurance as you can self insure at some point in your life. Also, as your loans are paid off, your fixed expenses decrease. Then your kids are out of college, out of the house and not a financial burden :) This will ...
by BruDude
Fri Apr 04, 2014 1:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Delete
Replies: 11
Views: 705

Re: Term Life Insurance - Young Couple in 20's

For yourself, SBLI for $2M 30 years is $1,280 annually or $111.36/month. For your wife, SBLI $1M 30 years is $530 annually or $46.11/month. The coverage amounts look ok and you can always reduce the benefit amount in future years which would have a corresponding premium reduction. If you do not alre...
by BruDude
Fri Apr 04, 2014 1:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Delete
Replies: 11
Views: 705

Re: Maintenance $$'s spent over the lifetime on your Car

An oil change costs me about $200 so I'm probably the wrong person to ask. Drive it til it's dead IMO...
by BruDude
Tue Apr 01, 2014 7:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Maintenance $$'s spent over the lifetime on your Car
Replies: 38
Views: 2388

Re: Expensive hobbies and possessions? (B/c you can...)

Bought an e92 M3 and did a full exhaust/tune which wasn't cheap, extended warranty also expensive. Gas mileage sucks. Worth every penny.
by BruDude
Mon Mar 31, 2014 9:14 pm
 
Forum: Personal Consumer Issues
Topic: Expensive hobbies and possessions? (B/c you can...)
Replies: 126
Views: 9241

Re: Do you have hardwood or tile in your kitchen?

I have tile throughout, hardwood does not go well with big dogs and low humidity.
by BruDude
Mon Mar 31, 2014 2:51 am
 
Forum: Personal Consumer Issues
Topic: Do you have hardwood or tile in your kitchen?
Replies: 57
Views: 3120

Re: Buy Term Life Now or Wait

3CheersforLkyJack wrote:I already have LT disability provided by my employer for 60% of earnings.


Search this forum for individual disability insurance vs. group disability. Your policy probably doesn't cover what you think it covers.
by BruDude
Thu Mar 27, 2014 6:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buy Term Life Now or Wait
Replies: 17
Views: 1116

Re: Life insurance with hazardous activities

Does anyone have good information on the best way to apply for term life insurance or the best companies to consider when you participate in "hazardous activities"? (In our case, rock climbing.) We got quotes through term4sale, were contacted by an agent at Accuquote, and the annual premi...
by BruDude
Wed Mar 26, 2014 6:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life insurance with hazardous activities
Replies: 11
Views: 935

Re: Buy Term Life Now or Wait

20-year term at your age is dirt cheap, even $1M for 20 years would be $35-45/month assuming good health. There will be little, if any, premium difference at age 30 vs. age 29. I'd just buy it now...if you encounter a health problem before buying it could complicate the underwriting and require a hi...
by BruDude
Wed Mar 26, 2014 1:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buy Term Life Now or Wait
Replies: 17
Views: 1116

Re: Health Care Act question about 2014????

I am seriously contemplating retiring July 1, 2014. I think I have things in order. One question, though, is about health insurance under the HCA. Do I have to meet the March 31, 2014 sign up deadline? I am currently coverage by my employer but would not be upon my retirement. Do I wait until I am ...
by BruDude
Wed Mar 12, 2014 4:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Health Care Act question about 2014????
Replies: 5
Views: 342

Re: PenFed 5/5 ARM advice

I think the break-even point is around 13 years versus fixed even in a worst-case scenario. If you are not going to plan on living in the house for 20+ years I would go with the 5/5 ARM. PenFed paying the closing costs makes it an even better deal.
by BruDude
Tue Mar 11, 2014 9:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: PenFed 5/5 ARM advice
Replies: 14
Views: 1035

Re: Separate Health Insurance For 19 Year Old

It was not a weird short term policy. An exam WAS required BEFORE the plan was issued - you had to go thru medical underwriting on the old plans. It was a thick stack of questions with 63 pages - I just counted them. I don't think you understand - the ACA compliant policy does indeed contract with ...
by BruDude
Tue Mar 11, 2014 3:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Separate Health Insurance For 19 Year Old
Replies: 41
Views: 1601

Re: Separate Health Insurance For 19 Year Old

Bluemarlin, My brothers ACA plans were definitely not subsidized. The ACA premium was far better than the grandfathered plan. The ACA plan from BCBS of MN is a SILVER level plan with a $3,000 deductible and covers 98% of ALL doctors in MN and 100% of ALL MN hospitals are in-network including the Ma...
by BruDude
Tue Mar 11, 2014 12:52 am
 
Forum: Personal Finance (Not Investing)
Topic: Separate Health Insurance For 19 Year Old
Replies: 41
Views: 1601

Re: Separate Health Insurance For 19 Year Old

Bluemarlin, I am not sure about the inference you are referring to in the above post(s) but one of the reasons I am a Boglehead is that I have found with both financial advisers and insurance agents I have had the distasteful experience of realizing that they did not have my best interests at heart...
by BruDude
Mon Mar 10, 2014 1:33 am
 
Forum: Personal Finance (Not Investing)
Topic: Separate Health Insurance For 19 Year Old
Replies: 41
Views: 1601

Re: Separate Health Insurance For 19 Year Old

It's perhaps worth mentioning that insurance brokers don't get commissions on student health plans. That's true. The average commission selling a health policy to a 19 year old is $5-20/month. Most people under 25 only stay on the books as long as their parents are footing the bill. Please stand by...
by BruDude
Sun Mar 09, 2014 5:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Separate Health Insurance For 19 Year Old
Replies: 41
Views: 1601

Re: Separate Health Insurance For 19 Year Old

http://www.uhs.wisc.edu/ship/faqs.shtml#1 How is SHIP affected by the Affordable Care Act (ACA)? SHIP coverage already equals or exceeds the level of coverage for student health plans under the ACA and satisfies the individual mandate. Don't know how it can satisfy the mandate when it has a pre-ex ...
by BruDude
Sun Mar 09, 2014 2:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Separate Health Insurance For 19 Year Old
Replies: 41
Views: 1601

Re: ACA Insurance Deductible Issue

If you change from a group plan to an individual plan, your deductible will start over again.
by BruDude
Sun Mar 09, 2014 2:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: ACA Insurance Deductible Issue
Replies: 2
Views: 276

Re: Separate Health Insurance For 19 Year Old

BanditKing wrote:If he's in college, he probably has almost $0 income and can get an fully-subsidized ACA plan with co-payment assistance.


Subsidies are not available if you are listed as a dependent on someone's tax return.
by BruDude
Sat Mar 08, 2014 10:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Separate Health Insurance For 19 Year Old
Replies: 41
Views: 1601

Re: Separate Health Insurance For 19 Year Old

http://www.acha.org/Topics/Affordable_Care_Act/FAQs_for_IndividualCoverageClassification.cfm Apparently there are some special rules or "final regulations" carved out for student health plans. I would need to look through these FAQs posted by the American College Health Association to see...
by BruDude
Sat Mar 08, 2014 10:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Separate Health Insurance For 19 Year Old
Replies: 41
Views: 1601

Re: Separate Health Insurance For 19 Year Old

http://www.uhs.wisc.edu/ship/faqs.shtml#1 How is SHIP affected by the Affordable Care Act (ACA)? SHIP coverage already equals or exceeds the level of coverage for student health plans under the ACA and satisfies the individual mandate. Don't know how it can satisfy the mandate when it has a pre-ex ...
by BruDude
Sat Mar 08, 2014 10:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Separate Health Insurance For 19 Year Old
Replies: 41
Views: 1601

Re: Separate Health Insurance For 19 Year Old

I don't mean to disagree with anyone's conclusion about the quality of the college plans which they have researched or experienced. However, at least at the University of Wisconsin, the Student Health Insurance Plan (SHIP) is supposed to be comparable to ACA health insurance exchange gold plan, whi...
by BruDude
Sat Mar 08, 2014 8:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Separate Health Insurance For 19 Year Old
Replies: 41
Views: 1601

Re: Separate Health Insurance For 19 Year Old

Most (perhaps all?) colleges offer health plans for full-time students. Some offer plans for part time students, too. Colleges will insist full-time students enroll in their plan unless they provide proof of coverage (such as through their parent's plan). Because the college plans have mostly young...
by BruDude
Sat Mar 08, 2014 6:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Separate Health Insurance For 19 Year Old
Replies: 41
Views: 1601

Re: Separate Health Insurance For 19 Year Old

All dependents have to be charged individually now. There are no more "parent plus children" rates on the individual market. He may want to buy two separate policies if it has an aggregate deductible (like an HSA plan usually would) instead of separate ones though.
by BruDude
Sat Mar 08, 2014 5:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Separate Health Insurance For 19 Year Old
Replies: 41
Views: 1601

Two year extension for non-grandfathered ACA plans coming

Hot off the press, for those who may be in the process of signing up for new plans or auto-transitioned to ACA-compliant plans - http://www.cnbc.com/id/101469265 Every state and insurance company will probably have a different opinion on this one on whether they will allow policyholders to keep the ...
by BruDude
Wed Mar 05, 2014 7:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: Two year extension for non-grandfathered ACA plans coming
Replies: 0
Views: 159

Re: Group Term Life Via Employer

In my opinion, it is a matter of how you look at it. I would surmise that consumers using term4sale to obtain quotes would have a much higher probability of buying from one of their recommended agents than agents found from other sources . This speaks to the statement I made about the purpose of th...
by BruDude
Wed Mar 05, 2014 4:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Group Term Life Via Employer
Replies: 20
Views: 1168

Re: Group Term Life Via Employer

In my opinion, it is a matter of how you look at it. I would surmise that consumers using term4sale to obtain quotes would have a much higher probability of buying from one of their recommended agents than agents found from other sources . This speaks to the statement I made about the purpose of th...
by BruDude
Tue Mar 04, 2014 12:42 am
 
Forum: Personal Finance (Not Investing)
Topic: Group Term Life Via Employer
Replies: 20
Views: 1168

Re: Medigap Plan G vs Plan F?

I was advised by 3 different insurance agents to go with Plan F, and I did. I went with BC/BS of Georgia (which is really Anthem out of Los Angeles) because of their enormous network. Just about any doctor that you would want to see is in their network because they have 70% of the market in Georgia...
by BruDude
Mon Mar 03, 2014 4:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medigap Plan G vs Plan F?
Replies: 32
Views: 3974

Re: Decreasing Term Life Insurance question

Dr. Gaius Baltar wrote:Are there better sites out there for looking up term life quotes than Term4sale, or is Term4sale pretty much the best?


The other sites all use the Compulife software, which is the same as term4sale
by BruDude
Mon Mar 03, 2014 11:39 am
 
Forum: Personal Finance (Not Investing)
Topic: Decreasing Term Life Insurance question
Replies: 18
Views: 910

Re: Group Term Life Via Employer

I do not recommend the site term4sale as it puts you in direct contact with a life insurance agent. Not true, they list some agents you could contact but they never share one's information. Probably the best term quoting site on the web The express purpose of the term4sale website is to provide lea...
by BruDude
Mon Mar 03, 2014 12:13 am
 
Forum: Personal Finance (Not Investing)
Topic: Group Term Life Via Employer
Replies: 20
Views: 1168

Re: Decreasing Term Life Insurance question

Decreasing term doesn't really have a market. There are very few products available and not priced competitively. Most insurance companies will allow you to decrease coverage at least once per year, resulting in a lower cost. This will be a lot more flexible than having a predetermined reduction up ...
by BruDude
Sun Mar 02, 2014 6:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Decreasing Term Life Insurance question
Replies: 18
Views: 910

Re: Group Term Life Via Employer

I think your math is off. $100k would be $22.22/month for 55-59
by BruDude
Sat Mar 01, 2014 10:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Group Term Life Via Employer
Replies: 20
Views: 1168

Re: Signed up for healthcare on exchange - no subsidy mentio

Thanks snowman, that helps. I am getting closer. My question has morphed somewhat... Now I've finally gotten it to say, yes, I do get a subsidy (yay!), and I tell it that I do not want any up front, but just give it to me at tax time. BUT, it only lets my wife and I sign up. Our (two) kids are left...
by BruDude
Mon Feb 10, 2014 4:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Signed up for healthcare on exchange - no subsidy mentioned
Replies: 14
Views: 1028

Re: Term Life Ins - Diabetic

Looking for term life insurance for either 10 /20 year term. Is there any specific companies/website catering diabetic (diabetes in control)? Tried with SBLI last year and they rejected. There are no companies that specifically target diabetics for life insurance, but some companies are certainly m...
by BruDude
Mon Feb 10, 2014 4:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Term Life Ins - Diabetic
Replies: 2
Views: 398

Re: Disability insurance. Play devil's advocate for me

If you think the only difference between group and individual policy benefits is the definition of total disability, I suggest you do more research. Group policies usually do not have cost of living adjustments, don't cover partial/residual disabilities, limit mental/nervous claims to 24 months, are...
by BruDude
Wed Feb 05, 2014 2:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Disability insurance. Play devil's advocate for me
Replies: 15
Views: 1179

Re: Life Insurance Question, Request Advice

The "guaranteed return" on an insurance policy is meaningless without knowing the cost of insurance.
by BruDude
Mon Feb 03, 2014 3:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life Insurance Question, Request Advice
Replies: 11
Views: 855

Re: AARP Medicare Supplement Ins (United Healthcare

Medicare Medigap regular Plan F is pretty expensive ($1960 per year or more) and unless you have a chronic disease like diabeties you will pay big $$ for that Cadillac coverage that you never recover. I recommend Plan F High Deductable instead. This plan is a lot cheaper (only $445 per year) and ye...
by BruDude
Fri Jan 31, 2014 7:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: AARP Medicare Supplement Ins (United Healthcare
Replies: 34
Views: 2183

Re: AARP Medicare Supplement Ins (United Healthcare

With Medicare and Plan F you won't see a dime in bills, but will need a separate prescription Part D plan. I would go with that if this were my choice, unless you have doctors that will only take the group insurance and are not accepting Medicare.
by BruDude
Fri Jan 31, 2014 2:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: AARP Medicare Supplement Ins (United Healthcare
Replies: 34
Views: 2183

Re: Small business insurance post-Obamacare

Composite billing for the small group market is market of proposed regulations released around Thanksgiving. Rating is still on the member level, but then carriers will be able to compute a composite Individual rate and a composite Family rate for the group's invoice, so that all employees can then...
by BruDude
Wed Jan 29, 2014 4:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Small business health insurance post-Obamacare
Replies: 10
Views: 697

Re: Small business insurance post-Obamacare

Have you received your 2014 renewal yet? Each employee must now be charged individually based on their age, the age of dependents, and smoker status, rather than having a single composite rate for the entire group. Under the new rules, groups that are younger and healthier will see substantially hig...
by BruDude
Wed Jan 29, 2014 4:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Small business health insurance post-Obamacare
Replies: 10
Views: 697

Re: Insurance [Deceiving Us] - Incorrect Marketing & Trainin

Have you asked for and received an explanation of the charges from the claims department?
by BruDude
Tue Jan 28, 2014 9:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Insurance [Deceiving Us] - Incorrect Marketing & Training
Replies: 28
Views: 1901

Re: Insurance Jerking Us Around - Incorrect Marketing & Trai

Usually the baby is covered under the mother's plan for 12-48 hours while in the hospital. After leaving the hospital, the baby has to be added to the policy within the 30-day window, otherwise no claims will be paid and the baby will not be added to the policy. I do not know of any plans that cover...
by BruDude
Tue Jan 28, 2014 3:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Insurance [Deceiving Us] - Incorrect Marketing & Training
Replies: 28
Views: 1901

Re: Mortgage shopping? Online vs local?

+3 PenFed 5/5 ARM at 2.5% with no closing costs except .125% disc pt. to get the rate. I did most of it in my bathrobe, in my easy chair with my laptop. I put my clothes on when the notary came by my house at the appointed time to sign the settlement papers. A breeze. I also did the 5/5 ARM with no...
by BruDude
Mon Jan 27, 2014 10:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Mortgage shopping? Online vs local?
Replies: 23
Views: 1058

Re: [Need help finding health insurance in CA]

From what I can gather, it's the fact that it's sold on the exchange that makes it "junk". I could be wrong, but I think that if I had bought the Platinum plan from Anthem Blue Cross outside of the exchange ($50 more per month), I wouldn't have run into this problem. My understanding is d...
by BruDude
Mon Jan 27, 2014 10:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: [Need help finding health insurance in CA]
Replies: 54
Views: 1954

Re: Responding to Advice Request on Whole Life Policy

i guesss the question is then what is the cheapest price for a 25k no lapse gUL for a 70 year old woman if in best health or 2nd best health category? That's the question a financially savvy person would ask, not the question that a 70-year-old living paycheck to paycheck would ask. I've tried many...
by BruDude
Mon Jan 27, 2014 8:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Responding to Advice Request on Whole Life Policy
Replies: 19
Views: 452

Re: Mortgage shopping? Online vs local?

My buying agent (realtor) is strongly recommending that we use a local mortgage broker for a smooth transaction and so our offer looks credible. Or maybe your agent plays golf with the mortgage broker, who takes him out to lunch, and they send each other business because they were frat brothers, an...
by BruDude
Mon Jan 27, 2014 8:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Mortgage shopping? Online vs local?
Replies: 23
Views: 1058

Re: Responding to Advice Request on Whole Life Policy

well if thats the case then she might actually even be better off going through underwriting and starting from scratch with a no lapse gUL. She would have to pay each payment exactly when due or lose the guarantee. No harm in going through under writing except waste of time. The insurance company p...
by BruDude
Mon Jan 27, 2014 8:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Responding to Advice Request on Whole Life Policy
Replies: 19
Views: 452

Re: [Need help finding health insurance in CA]

Is there any essential difference between exchange policies and non-exchange policies besides price and reimbursement rates and therefore acceptance by doctors? Not sure about CA, but in most states there are more choices off-exchange, especially if you want a plan with a nationwide PPO network. Do...
by BruDude
Mon Jan 27, 2014 8:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: [Need help finding health insurance in CA]
Replies: 54
Views: 1954

Re: Should I keep my term life insurance?

I currently have a $500,000 Metlife term policy that I bought when I was 35 years old. I am now 40. I pay $459.00 a year (including a $69.00 annual policy fee) until year 20. At policy year 21 my premium for the year goes up to $5569.00, year 22 is $6209.00, year 23 is $6899.00, year 24 is $7489.00...
by BruDude
Mon Jan 27, 2014 8:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I keep my term life insurance?
Replies: 16
Views: 1328

Re: [Need help finding health insurance in CA]

All policies purchased after January 1, 2014, have to cover maternity since it's an Essential Health Benefit, even if the policy is bought off the exchange.
by BruDude
Mon Jan 27, 2014 8:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: [Need help finding health insurance in CA]
Replies: 54
Views: 1954
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