Important Tidbits

Explaining HIPAA

When dealing with switching jobs and health care insurance, many people hear the word, or more accurately the acronym, “ HIPAA ” tossed around but do not truly understand what it means to them, their families, and their right to health care. HIPAA stands for the Health Insurance Portability and Accountability Act. Enacted by the US Congress and signed by President Bill Clinton in 1996, this act protects health insurance coverage for workers and their families when they change or lose...

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10/14/2011 Comments(0)

Rental Car Insurance

I'm sure like most of you, it becomes an uncomfortable part of the Car Rental process when the Rental Agent starts up with the sales pitch about the coverages available for an extra charge while you're enjoying the pleasures of their vehicle. And like most of us... we tell the Agent... "No thanks... my insurance already covers this.", or "My Credit Card protects me for this." But does it? Obviously the best thing to do is to call your Agent, or read the fine print on the actual protection being ...

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Jeff Patten 5/18/2011 Comments(0)

The Donut Hole

I get a lot of people ask me about the "donut hole" being experienced with prescription drugs under the Medicare Prescription arrangement. Keep in mind that there are a number of MediCare Supplement plans and each one handles the initial portion differently. For "ease" of understanding, we are going to assume that someone is purchasing only the Part D Drug Plan along with parts A & B . For 2011 you will be required to pay the first $310 as a deductible on the drugs that are used. Once the de...

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Jeff Patten 5/18/2011 Comments(0)

Beware of the YSP...

So you're considering getting a mortgage to buy a house or refinancing... When approaching the task of applying for a loan be careful not to fall into the trap of the "rate" game. Similar to the auto salesman that asks you what you can afford per month... . You should be applying for the best mortgage rate that you qualify for. Ever heard of Yield Spread Premium YSP ? This is a fee that is paid by Mortgage Lenders to Mortgage Brokers for loans that are settled on with rates that are higher than ...

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Jeff Patten 5/18/2011 Comments(0)

Tax Break Offered to Small Business

While Obamacare is providing the opportunity for small businesses to receive a tax break for simply providing health insurance to employees , many businesses in Georgia are opting out. Although the motion was meant to benefit as many as 32 million US citizens who have no health insurance , these small businesses simply can’t afford to make the change. While around 30 percent of Georgia firms can meet the majority of requirements for the tax breaks, not many are biting. It may save them mon...

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AIA Staff 5/18/2011 Comments(0)