Expect Something Different

 
 

Employees Will Ultimately Pay The Employer Penalty

Although delayed for one year by the President, The Affordable Care Act’s employer mandate will levy a penalty on large employers that do not offer affordable health insurance to their full-time employees beginning in 2015. The penalty is based on the number of full-time employees and adds about $3,000 to the annual cost of employing each person.

Employers have been complaining about the penalty, saying it will reduce the number of people they hire and cause them to reduce employee hours. Even economists and commentators supporting the law acknowledge that per-employee penalties reduce hiring by raising the cost of employment.

Most economists adhere to the premise that it matters not in the long run whether a tax is levied on employers or on employees. When the employer is taxed, the employee pays the tax indirectly through reduced pay, because employer penalties reduce the willingness of employers to compete for people with higher wages and benefits.

Essentially, a employees take-home pay would be the same if the government levied a $3,000 fine on workers for having a full-time job with a large employer that does not offer health benefits, rather than levying the fine on employers on the basis of their full-time personnel, as the Affordable Care Act does.

Although the perception is that large businesses can afford $3,000 per employee while many employees could not, the result is that the employees will ultimately absorb the tax beginning in 2015, when the law is fully implemented and begins collecting the employer penalty.
 

Contact Heather Matias Ainesworth for group quotes and other information relating to health care reform.

 

 


Democrats Shrug Off Delays and Affirm Support for Health Law

Congressional Democrats announced that they expected to see more delays and snags in President Obama’s efforts to implement the Affordable Care Act, but they affirmed their strong support for the law.

The comments came in a hearing of a House Ways and Means subcommittee held to investigate the president’s decision last week to delay until 2015 a major provision of the law requiring employers with more than 50 full-time workers to offer health coverage to them or be subject to penalties.

Republicans in the House and Senate suggested that Health & Human Services should also delay the mandate that all individuals must have health insurance scheduled to begin on time in 2014. So far this has gained little traction and does not seem to be a indication that their stated desire to kill or delay the law in its entirety will happen.

 

 

 

Life Policy Assessment


An objective no cost analysis of your client’s life insurance portfolio.

The Problem:

Unlike other investment products, permanent life insurance is rarely reviewed to evaluate its performance. Declines in interest rates, changing insurance costs, and market conditions significantly affect your client’s policy. Yet the impact of these changes is seldom explored or understood. These factors can cause significant increases in the cost of an insurance policy or, even worse, cause coverage to expire during the lifetime of the insured.

Expired life insurance is not a rare occurrence—it is a significant problem. If you don’t review your client’s policies as their trusted advisor, who will? Reviewing your client’s policies may protect you from liability under the Uniform Prudent Investor Act or your state’s fiduciary standards.

What is a Policy Assessment:

The Policy Assessment report is an objective third-party review of your client’s existing life insurance coverage. This review is completed at no cost to your client.

Provide Your Clients with Peace of Mind:

Our Policy Assessment is always in your client’s best financial interest and may conclude that no changes are necessary. If improvements are suggested, the Policy Assessment clearly explains how and why your client will benefit financially from taking advantage of the recommendations.

Regardless of the outcome, providing a Policy Assessment assures your client that you have their best interests in mind.

The Policy Assessment evaluates several critical policy areas:

Is the policy in danger of lapsing prematurely?

Unfortunately, many consumers are unaware that their “permanent” life insurance policies are in danger of expiring before the insured’s death. In these instances, it is important to inform the insured of the potential that a policy may expire earlier than expected.

Is your client paying too much for insurance?

Many times declining interest rates and changes in the economy mean that your client could receive the same coverage for a lower premium.

Can your client increase coverage and/or reduce the cost of current coverage?

Often the assessment shows that your client has the option of either paying less for their coverage or continuing their payments while significantly increasing the amount that they leave to the people and causes they care about.

Is your client’s policy performing as expected?

About 40 percent of the reviews conducted reveal a policy performing as originally intended. In these cases, the report will recommend continuing the policy “as is” unless the client’s needs have significantly changed.

How It Works:

Step 1: Complete the brief data sheet and authorization

The brief data sheet and authorization gathers the information necessary to ensure that our analysis is accurate. It includes a brief health questionnaire and authorization form.

Step 2:

We compile all information on current policies

Your client’s authorization allows us to use our relationships with insurance carriers to contact them directly and gather any information necessary to complete the report. We keep you updated on our progress while we gather the data required for a thorough analysis.

Step 3:

We thoroughly analyze your client’s situation

There are different preferences and purposes for life insurance, so each report is unique to your client’s goals and objectives. Our in-house experts analyze every detail of your client’s existing coverage and identify issues that may be important to them. In addition, we search all of the top insurance carriers to see if there are better solutions your client may want to consider.

Step 4:

The report is delivered directly to you

Our final report is delivered directly to you so that you remain in control of how the information is delivered to your client. We are available to walk you and your client through any recommendations.

Getting Started...


Call or email Steve Gresso today to get the Policy Assement Kit.


Services provided by Insurance Valuation Services, Inc., a division of Pinney Insurance Center. 2266 Lava Ridge Court, Suite 200, Roseville, CA 95661
 

 
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Our proprietary web based one page application that is the same for all carriers.

You can quote and submit our one page application in less than 15 minutes.

It is the easiest system available for writing  life insurance and best of all, you retain control of your case, have 24/7 status updates available and there is no reduction in commissions.

 

 

   
 

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