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Re: If you have ACA health insurance, what is your experien

For 2014, the employer health insurance subsidy amounts to $250 billion a year compared to the ACA cost of $40 billion. People with employment health insurance have been receiving subsidies for so long that they simply take it for granted and may view ACA subsidies as unprecedented. They are not. E...
by bluemarlin08
Wed Apr 23, 2014 11:22 am
 
Forum: Personal Finance (Not Investing)
Topic: If you have ACA health insurance, what is your experience?
Replies: 157
Views: 6713

Re: If you have ACA health insurance, what is your experien

The tax subsidy is only for the portion of the premium the employer pays. Many employers only pay a portion of the employees premium and the employee pays the balance as well as any dependent coverage after tax.
by bluemarlin08
Wed Apr 23, 2014 9:42 am
 
Forum: Personal Finance (Not Investing)
Topic: If you have ACA health insurance, what is your experience?
Replies: 157
Views: 6713

Re: Northwestern Mutual Life - Whole Life Policy Review

I would be hesitant to count on anything that isn't guaranteed. You could ask for an inforce showing a decrease in dividend crediting rates by 100 and 200 basis points.
by bluemarlin08
Tue Apr 22, 2014 6:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Northwestern Mutual Life - Whole Life Policy Review
Replies: 31
Views: 1806

Re: If you have ACA health insurance, what is your experien

You seem to be forgetting that employment health plans have been subsidized by taxpayers for decades. The ACA is only a partial attempt to even the score for individual insurance. The employment health deduction is the largest government subsidy of all, even bigger than the mortgage deduction, and ...
by bluemarlin08
Tue Apr 22, 2014 6:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: If you have ACA health insurance, what is your experience?
Replies: 157
Views: 6713

Re: Northwestern Mutual Life - Whole Life Policy Review

I don't really see the need for life or disability coverage. The problem is trying to predict what dividends will do in the future, I doubt you will ever earn 4-5%, true return. My view is dividends will continue to lag for the foreseeable future.
by bluemarlin08
Tue Apr 22, 2014 4:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Northwestern Mutual Life - Whole Life Policy Review
Replies: 31
Views: 1806

Re: If you have ACA health insurance, what is your experien

The main reason folks seem to be happy with the ACA is others are paying a portion of their premium. It would be interesting to know how much we taxpayers paid in Jan, Feb and March to the insurance companies for these subsidies. I believe a big mistake was made to only use income as the qualifier f...
by bluemarlin08
Tue Apr 22, 2014 4:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: If you have ACA health insurance, what is your experience?
Replies: 157
Views: 6713

Re: If you have ACA health insurance, what is your experien

The states are responsible after 3 years for their portion of Medicaid, which could be 100's of millions of dollars. My state is required to have a balanced budget, where will these extra dollars come from, what programs will have to be cut? Open ended spending, with no controls, can create chaos, w...
by bluemarlin08
Mon Apr 21, 2014 4:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: If you have ACA health insurance, what is your experience?
Replies: 157
Views: 6713

Re: If you have ACA health insurance, what is your experien

Other than the deductible going from family to individual, were there any other changes (good or bad for you) in the coverage? For example, were some appointments, tests, procedures now no charge when in the past they were charged for? How about things like copays for services? My guess is that you...
by bluemarlin08
Mon Apr 21, 2014 12:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: If you have ACA health insurance, what is your experience?
Replies: 157
Views: 6713

Re: If you have ACA health insurance, what is your experien

My plan went from a monthly premium for wife and I of $740 to $1165. In addition, had a family deductible of 3000, now individual deductible of 3000. Same network as before, no subsidies. Would have been happy if I had a large subsidy, but not so much with higher premiums and deductible. Most people...
by bluemarlin08
Mon Apr 21, 2014 11:09 am
 
Forum: Personal Finance (Not Investing)
Topic: If you have ACA health insurance, what is your experience?
Replies: 157
Views: 6713

Re: If you have ACA health insurance, what is your experien

Talk to folks most daily that bought plans and don't realize their network is so small. Poorly explained to the insured.
by bluemarlin08
Sun Apr 20, 2014 9:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: If you have ACA health insurance, what is your experience?
Replies: 157
Views: 6713

Re: Annuity Rollover

If you weren't in the annuity, what is your return objective? If the objective is higher than 3%, surrender and pay the penalty and ordinary income tax. Otherwise, moving to a variable annuity, you still face the 10% fee if surrendered before age 59 and all gains taxed at ordinary rates. Do you anti...
by bluemarlin08
Fri Apr 18, 2014 4:18 pm
 
Forum: Investing - Help with Personal Investments
Topic: Annuity Rollover
Replies: 15
Views: 611

Re: Annuity Rollover

Wait till the surrender fees disappear then surrender and pay the tax. Three per cent isn't a bad rate.
by bluemarlin08
Fri Apr 18, 2014 10:37 am
 
Forum: Investing - Help with Personal Investments
Topic: Annuity Rollover
Replies: 15
Views: 611

Re: Anyone feed the birds?

Need recommendations for first time birders. We live in Middle Tennessee next to several acres of woods. We have a deck that we tried hanging feeders but our squirel population is large and they ruined it.
by bluemarlin08
Tue Apr 15, 2014 6:07 pm
 
Forum: Personal Consumer Issues
Topic: Anyone feed the birds?
Replies: 84
Views: 6203

Re: Annuities

33 years in the insurance business has taught me to view annuities on only the guarantees. I am less concerned regarding the potential failure of an insurance company. I have never seen any insurance contract with an insolvent company not pay the guarantees.
by bluemarlin08
Mon Apr 14, 2014 6:59 pm
 
Forum: Investing - Theory, News & General
Topic: Annuities
Replies: 59
Views: 3932

Re: Supplemental Life Insurance

One can really buy a "term" policy for as long as they wish, up to a policy guaranteed to age 120
by bluemarlin08
Wed Apr 09, 2014 6:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Supplemental Life Insurance
Replies: 5
Views: 227

Re: Supplemental Life Insurance

The only reason to keep more than 50,000 of group coverage is if you have medical issues that prevent you from qualifying for individual coverage.
by bluemarlin08
Wed Apr 09, 2014 4:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Supplemental Life Insurance
Replies: 5
Views: 227

Re: Being a trustee for a friend's estate

Being a trustee that requires on going maintenance is a task I would be very careful accepting. It is an honor that he has that kind of trust with you, but I would try to steer him toward using a corporate trustee.
by bluemarlin08
Tue Apr 08, 2014 11:41 am
 
Forum: Personal Finance (Not Investing)
Topic: Being a trustee for a friend's estate
Replies: 14
Views: 1167

Re: Company offering LTC

Sparklebunny, how does NWM's policy handle cost of living increases? Is it an automatic increase each year or do they offer it each year that you can choose whether to purchase?
by bluemarlin08
Tue Apr 08, 2014 8:31 am
 
Forum: Personal Finance (Not Investing)
Topic: Company offering LTC
Replies: 11
Views: 1061

Re: Company offering LTC

Ask for a sample policy. What is the maximum daily benefit you can chose? At your age the simple inflation with a cap is a problem, that could be offset by choosing a higher daily benefit. Obtain a quote from an agent for similar benefits with other companies.
by bluemarlin08
Wed Apr 02, 2014 10:27 am
 
Forum: Personal Finance (Not Investing)
Topic: Company offering LTC
Replies: 11
Views: 1061

Re: Company offering LTC

What are benefits? Is there an cost of living rider? Are rates guaranteed? Is the employer making any contributions? Is it portable? If rates aren't guaranteed, what is their history of rate increases?
by bluemarlin08
Tue Apr 01, 2014 1:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Company offering LTC
Replies: 11
Views: 1061

Re: A whole life question (put the axes and torches away)

If you have health issues that potentially alters yor life expectancy, certainly you should keep the policy and assuming it is a dividend paying company change dividends option to buy paid up additions.
by bluemarlin08
Sun Mar 30, 2014 9:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: A whole life question (put the axes and torches away)
Replies: 40
Views: 2095

Re: ILIT for term life insurance? [Irrevocable Life Ins. Tru

One consideration that may be less expensive is just to buy additional term insurance to cover the tax and let children or wife own the additional coverage.
by bluemarlin08
Sun Mar 30, 2014 3:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: ILIT for term life insurance? [Irrevocable Life Ins. Trust]
Replies: 11
Views: 572

Re: No medical exam term life

Why do you want a no exam term policy? These policies,compared to medically underwritten plans, are substantially more expensive. They still ask medical questions and often run rx checks and ask for doctor statements.
by bluemarlin08
Sat Mar 29, 2014 12:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: No medical exam term life
Replies: 4
Views: 353

Re: Buy Term Life Now or Wait

+1 on the disability recommendation. Rates are lower at your age than they will ever be.
by bluemarlin08
Thu Mar 27, 2014 2:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buy Term Life Now or Wait
Replies: 17
Views: 1116

Re: Life insurance with hazardous activities

Rock climbing risk is determined by the type of climbing, the gear used, where it is done, experience, altitude and other factors. Some companies are more liberal than others. Try to find an agent that has experience with this issue.
by bluemarlin08
Wed Mar 26, 2014 5:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Life insurance with hazardous activities
Replies: 11
Views: 935

Re: VUL (w/ 50% match) vs. 457B (non-match) vs. 529s

Ask the CLU what is the minimum death benefit you can buy without the policy becoming a modified endowment contract.
Will you own the policy?
Does the employer have a lean against the policy via a split dollar arrangement?
by bluemarlin08
Sun Mar 23, 2014 3:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: VUL (w/ 50% match) vs. 457B (non-match) vs. 529s
Replies: 16
Views: 677

Re: VUL (w/ 50% match) vs. 457B (non-match) vs. 529s

The company match changes everything. Some salesman sure made someone an impressive pitch. I would see how much flexibility you have in designing the policy. The best option is to buy as low a death benefit without Mec'ing out.
by bluemarlin08
Sat Mar 22, 2014 10:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: VUL (w/ 50% match) vs. 457B (non-match) vs. 529s
Replies: 16
Views: 677

Re: Variable Annuities with GLWB

IMO, the only way to evaluate any annuity is what is guaranteed. The income riders make an annuity a deferred immediate annuity. Several years ago there were a couple of these deferred immediate annuities that were attractive for certain age groups if the annuitant was convinced he was going to need...
by bluemarlin08
Sat Mar 22, 2014 9:43 am
 
Forum: Investing - Help with Personal Investments
Topic: Variable Annuities with GLWB
Replies: 13
Views: 903

Re: Health Insurance Marketplace

If you are concerned about estimating income, forgo the credit until he files taxes next year.
by bluemarlin08
Fri Mar 21, 2014 6:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Health Insurance Marketplace
Replies: 11
Views: 897

Re: Decreasing Term Life Insurance question

To increase the guarantee period will require new medical underwriting.
by bluemarlin08
Wed Mar 19, 2014 9:12 am
 
Forum: Personal Finance (Not Investing)
Topic: Decreasing Term Life Insurance question
Replies: 18
Views: 910

Re: What premium items are least worth it?

I use to think tailored clothing was a waste until I bought a tailored suit and some shirts. Never go back to the rack again. I also discovered the same thing with shotguns. I am trying to determine what I am going to reward myself with if a certain business deal goes through.
by bluemarlin08
Mon Mar 17, 2014 6:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: What premium items are least worth it?
Replies: 105
Views: 5652

Re: Life insurance to avoid estate taxes

Life insurance is not used to avoid estate taxes it is typically used to provide the liquidity to pay the tax and avoid having to sell illiquid assets.
by bluemarlin08
Sun Mar 16, 2014 11:32 am
 
Forum: Personal Finance (Not Investing)
Topic: Life insurance to avoid estate taxes
Replies: 3
Views: 487

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

As mentioned, you should be able to enroll. However, I would carefully review your COBRA coverage versus a plan under ACA. I reviewed one today and they are better to use COBRA.
by bluemarlin08
Wed Mar 12, 2014 6:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Health Care Act question about 2014????
Replies: 5
Views: 342

Re: Separate Health Insurance For 19 Year Old

In my state BCBS offers 3 networks, one that is horrible and used mainly in the large cities, one that is more liberal and one that is virtually the same as pre ACA plans that has the widest network of any other carrier. You are correct in the 5 year blocks. The biggest difference I see in trying to...
by bluemarlin08
Tue Mar 11, 2014 9:25 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

Who was the insurer of the GF plan? I've never seen any insurer ask for a medical exam, but I don't do any work in your state so anything could happen.
by bluemarlin08
Tue Mar 11, 2014 8:17 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

For most of the agents I know the code is do what is right and in the client's best interest. I don't have to sign any statement regarding to pledge to do what is in the client's best interest. As in every field, there are going to be folks that act in their own best interest, it is not just segrega...
by bluemarlin08
Mon Mar 10, 2014 10:06 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

Were your brothers ACA plan subsidized? Are the benefits of the ACA plan identical to the GF plans? Every GF plan I have seen when compared apples to apples with an unsubsized ACA plan was always less expensive.
by bluemarlin08
Mon Mar 10, 2014 5:31 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

My response was not directed at you MNBob. Sorry you had such an experience but certainly not all agents act in this fashion. I've had physicians, lawyers, engineers and other individuals that didn't act in my best interest but didn't color all with the same brush. Hope you have better experience in...
by bluemarlin08
Mon Mar 10, 2014 8:13 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.


Why would an agent want to sell a [(poor) --admin LadyGeek] plan to a student if historically they were inferior? I'm curious what your inference is with that statement?
by bluemarlin08
Sun Mar 09, 2014 5:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: Separate Health Insurance For 19 Year Old
Replies: 41
Views: 1601

Re: Firing financial adviser, keep insurance with him?

USAA is not always the cheapest carrier to use for term life, it isn't in this case.
by bluemarlin08
Sun Mar 09, 2014 12:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Firing financial adviser, keep insurance with him?
Replies: 18
Views: 1483

Re: Separate Health Insurance For 19 Year Old

There is no financial advantage to having both on the same policy. In my state of Tennessee, even the HDHP/HSA have changed from family deductible to individual deductible with a max deductible of 2 times the individual. As Brudude said, all the college plans I have reviewed are terrible
by bluemarlin08
Sat Mar 08, 2014 6:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Separate Health Insurance For 19 Year Old
Replies: 41
Views: 1601

Re: DB Pension Options

Reasonable considerations that many of us face. Sometimes life insurance isn't an option due to medical issues. I would first have an agent give you an idea of medical underwriting.
by bluemarlin08
Fri Mar 07, 2014 9:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: DB Pension Options
Replies: 32
Views: 1519

Re: Firing financial adviser, keep insurance with him?

Find a good agent, talk to him and get a feel if he understands the relationship you perceive you want. You can do the conversion, but you pay the same premium with or without an agent. A good agent can help and save you time. In addition, your increase benefit might be better with another carrier i...
by bluemarlin08
Fri Mar 07, 2014 8:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Firing financial adviser, keep insurance with him?
Replies: 18
Views: 1483

Re: Health Insurance Marketplace

What is projected income, yes he will have any subsidies recaptured if he overestimates income. A short term medical plan, 11 months 29 days, may be anoption if doesn't have any pre existing conditions, although he will have to pay a penalty for this plan. Find an agent that is knowledgable and have...
by bluemarlin08
Fri Mar 07, 2014 1:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Health Insurance Marketplace
Replies: 11
Views: 897

Re: Worth fighting ticket to avoid points, higher insurance?

Ask your agent his opinion and the potential premium increase, that is why he is getting paid.
by bluemarlin08
Fri Mar 07, 2014 1:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Worth fighting ticket to avoid points, higher insurance?
Replies: 46
Views: 2712

Re: Need help buying health insurance

Most of the independent agents I know will not write business on the exchange. Carriers have reduced commissions over 75% since this bill passed. Many have left this portion of the insurance business.
by bluemarlin08
Thu Mar 06, 2014 8:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Need help buying health insurance
Replies: 30
Views: 1367

Re: Need help buying health insurance

If you don't have any pre existing conditions, don't need maternity coverage or anticipate needing nervous/mental disorder treatment, consider a short term medical plan. Although you will have to pay the penalty, premiums are dramatically less than ACA plans.
by bluemarlin08
Thu Mar 06, 2014 8:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: Need help buying health insurance
Replies: 30
Views: 1367

Re: Red dot scope

I did not buy the gun with a scope so just looking around. It sure is a fun gun to shoot. Read some good reviews on this one BSA 30mm Red Dot Scope with 5 MOA
by bluemarlin08
Thu Mar 06, 2014 12:44 pm
 
Forum: Personal Consumer Issues
Topic: Red dot scope
Replies: 11
Views: 829

Re: Red dot scope

Thanks for the replies. I will be using this on my HighPoint 9mm carbine. The iron sights are great and I get very good groupings but have talke with others that say adding the red dot makes shooting even better.
by bluemarlin08
Thu Mar 06, 2014 12:08 pm
 
Forum: Personal Consumer Issues
Topic: Red dot scope
Replies: 11
Views: 829

Red dot scope

Any recommendations for a red dot scope?
by bluemarlin08
Wed Mar 05, 2014 10:19 pm
 
Forum: Personal Consumer Issues
Topic: Red dot scope
Replies: 11
Views: 829
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