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robintek

Jun 01
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How Much Money Do You Need To Save For Retirement?

By Employment Resources

One hundred thousand, one million or one billion – how much should you save for retirement? Instead of drawing a random number from a hat, use tips from financial planners to prepare for your future.

Write Down Retirement Goals

Do you want to travel the world or move closer to your children after you retire? Maybe you anticipate needing long-term medical care or providing for a disabled child. These goals determine how much retirement money you need to save.

Calculate Expenses

With your goals in mind, calculate your retirement expenses. Figure in cost of living differences if you plan to relocate, and remember that while you won’t have commuting costs, you may experience higher medical costs.

Calculate Income

Social Security, pension funds and IRA withdraws are three possible income sources you’ll receive during retirement. Use the annual letter you receive from Social Security and your pension and retirement fund reports to calculate your income from these sources.

Set a Target Amount to Save

Now that you’ve outlined expenses and income, you’re ready to decide how much money you need to invest. In general, you need to save $20 now for each dollar your retirement expenses exceed your income. So if your expected retirement expenses exceed your projected income by $20,000 a year, you need to save $400,000 in your nest egg.

Your financial planner, human resources manager this online calculator can assist you in tabulating how much money you’ll need to retire comfortably. Recalculate this figure annually to make sure you’re on track to save your target amount.

Instead of guessing at how much money you need for retirement, use these tips to create a realistic plan. You can also save 10 to 15 percent of each paycheck, or more if you’re older than 30, to give your money time to grow into a healthy nest egg. Consider adding any raises or bonuses to your employer sponsored retirement accounts, too, as you prepare for your future. 

Jun 01
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How to Build a Better Relationship With Your PCP

By Employment Resources

How’s your relationship with your primary care physician or PCP? Because your doctor diagnoses illness, performs preventative checkups and looks out for your physical wellbeing, you want to build a better relationship as you take care of your health now and into the future.

1. Have an Agenda

What do you expect from a doctor visit? Clarify your agenda before you schedule an appointment, and use your list of talking points or questions to keep you on track and ensure your concerns are addressed.

2. Ask Questions

Maybe you were taught to follow doctor’s orders without question, but times have changed. Doctors are taught now to listen to patients, and you have Dr. Google at your disposal. So don’t be afraid to speak up and ask why tests are being prescribed or what information the doctor used to diagnose you.

3. Know Your Medical History

While your doctor has access to your chart, he or she may not know all the details of your medical history. Record those details in your medical journal, and bring it to each appointment. Use your family’s history of depression, diabetes or cancer to help your doctor treat you.

4. Be Honest

Sometimes, you’re embarrassed to tell your doctor about your lifestyle or symptoms. However, your doctor uses those details along with test results and a physical exam to determine the correct diagnosis. Honesty goes a long way toward building a trusting and helpful long-term relationship with your PCP.

5.Share Your Preferences

Are you committed to a vegan lifestyle, see depression as a weakness or prefer not to be placed on life support? Share these preferences with your PCP so that he or she can help you make health decisions that honor your wishes.

Regular doctor visits improve your overall health. Take advantage of your health insurance coverage to see your doctor regularly, and use this list to build a better relationship with your PCP. 

Jun 01
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Does Worker’s Comp Cover Long-Term Illnesses Or Disabilities

By Employment Resources

Worker’s comp insurance covers your medical treatment after you suffer an injury or are involved in an accident at work. However, you also need to know if workers comp can cover long-term illnesses or disabilities.

What Long-Term Illnesses and Disabilities are Covered?

Your employer’s worker’s comp insurance policy will include specific details about the exact illnesses and disabilities your policy covers. While you want to check it, consider this short list of possible health issues that worker’s comp can cover.
*Asthma

*Back pain

*Carpal tunnel

*Heart conditions

*Lung disease

*Stress-related digestive problems
Understand the Cause and Document the Symptoms

Repetitive actions, ongoing chemical exposure and even job-related stress could be the cause of your illness or disability. Since you can’t point to a specific accident that caused your long-term illness, be sure to document the symptoms thoroughly.

When documenting the symptoms, describe the pain, where it’s located and what actions you perform regularly. Include the dates and results of any medical treatment you receive, too, or ask your doctor for verification that your illness or disability could have been caused by your work duties or environment. These details build your case for worker’s comp when you file because of your long-term illness or disability.

Track Laws and Recalls

In the midst of your illness or disability, do your homework. Track changes in employee laws or safety guidelines, and look for chemical, equipment or safety gear recalls. All of these details could help to support your case that your work environment or duties created your illness or disability.

Ask Coworkers to Vouch for You

Chances are high that you’re not the only one at work who’s suffering. Ask your current and previous coworkers if they’re experiencing the same symptoms as you. If so, ask them to document the specific. Together, you stand a better chance of getting your worker’s comp claim approved.

When your work causes a long-term illness or disability, you could be eligible for worker’s comp. Check your policy, talk to your human resources manager and start assembling supportive paperwork as you prepare to state your case.

Jun 01
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Vision Insurance Options for Your Entire Family

By Life and Health
Annual eye exams diagnose your eye health and ensure you have the right corrective lens prescription. Most standard health insurance policies don’t include vision coverage, though. Instead of paying high out-of-pocket expenses for optometrist visits and eyeglasses for you and your family members, investigate a few options that improve and protect your eyesight without breaking the bank.
1. Add supplemental group coverage offered by your employer’s health insurance plan. You’ll pay a monthly or annual premium for coverage, and visit copays are your responsibility. In return, your benefits include a pre-determined number of eye exams or a dollar amount for eye exams and corrective lenses. If your treatment exceeds the covered limits, you pay the difference.
2. Purchase private vision insurance. It provides either a set number of eye care visits and eyeglasses or contact lenses annually or a pre-determined dollar amount. Despite paying monthly premiums, this option is usually a money saver if you have a large family.
3. Join a discount program. Your eye doctor, travel club or civic organization might offer a discount program that pays a portion of your eye care needs. To join, you pay an annual fee and then receive a certain dollar amount in free exams or corrective eye wear. You pay for any costs that exceed the limit. Also, your choices of eye care professionals is limited to those that participate in the discount program you join.
4. Apply for Medicaid or Medicare. Income-based, these two options can include vision coverage for you or your children.
Maximize Your Vision Coverage
Vision insurance provides numerous benefits to your family, especially if one of you wears glasses or contacts. Often, insurance covers each family member’s annual eye exam, bi-annual eyeglasses, ongoing contact lens needs and cataract removal. You may also be eligible for discounts on eyewear, LASIK surgery or other eye surgeries. As with all insurance policies, read the fine print on your policy to determine exactly what’s covered. For additional assistance choosing vision insurance or to compare available plans and coverage options, talk to your insurance agent today.

 

Jun 01
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Health Insurance Shoppers Look to Narrow Networks to Save Money

By Life and Health
Would you rather buy health insurance that reduces your annual costs or gives you access to a wider network of doctors? Since you do have a choice, learn about the trend of choosing low-cost narrow networks.
What is a Narrow Network and How Does it Work?
Almost 40 percent of available public health care exchanges choose to be part of a narrow network. They contract with a limited pool of doctors, hospitals and specialists who agree to discount their services in exchange for the potential to treat a large number of patients.
Consumers who choose narrow networks also receive lower premium rates, making this health insurance option affordable to many families and employers. Health insurance companies also argue that narrow networks allow them to choose better providers for their members.
How to Save Money With a Narrow Network
By seeing the medical providers your insurance covers, you save money since your insurance will likely cover a large portion of the bill. Narrow networks also only raised rates by an average of four percent from 2014 to 2015, which helps to keep your annual costs low.
However, you’ll need to see in-network providers. You’ll pay high out-of-pocket expenses if you choose to see a doctor who does not participate in your health insurance plan. Read your policy carefully to find out exactly what’s covered. Call the customer service hotline before you schedule any appointments or tests, too, and make sure the provider is listed on your coverage.
Should You Switch to a Narrow Network?
A McKinsey survey found that customer satisfaction with narrow networks is high. Less than 20 percent of patients who used a narrow network in 2014 switched plans in 2015. You, too, might consider switching to a narrow network, so talk to your insurance agent or shop online. Find out which plans cover your favorite doctors, specialists and hospitals. Then take a look at the costs, including deductibles and copays, as you decide if a narrow network makes financial sense for you. If so, you join many consumers who enjoy the financial advantages of narrow networks.

 

Jun 01
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Four Reasons Why You Should Join Your Employer’s Group Life Insurance Plan

By Life and Health
Your life insurance policy provides financial provision and peace of mind to your family after you die. While you could buy a private policy, many employers offer a group life insurance option that offers four important benefits.
1. Protect Your Dependents
As the primary provider for your family, you ensure their needs are met. What happens if you were to die, though? With life insurance, your beneficiaries receive funds that pay bills, cover cost of living expenses or pay for college. Instead of hoping nothing happens to you or believing that you’re too young to die, select a life insurance policy offered through your employer’s group plan, and protect your dependents.
2. Cut Your Policy Costs
When buying groceries, items sold in bulk are cheaper per unit than items sold in individual packages. The same principle applies to life insurance. Because more people participate, insurance companies can offer group policies at lower premiums. Although a group life insurance plan does not offer as much flexibility as an individual policy, group policy costs are cheaper, making life insurance affordable.
3. Pay the Premium With Ease
Participate in a group life insurance plan offered through your employer, and enjoy easy premium payment. That’s because your employer will typically deduct your policy premium directly from your paycheck. You receive important coverage, and you have one less thing to think about each month.
4. Stay Covered After you Retire, are Disabled or are Laid Off
Although your employer’s group plan is designed for employees only, you can sometimes keep the policy after you retire, are disabled or are laid off. Typically, retirees or former employees who are disabled or laid off must pay the full premium or transfer coverage to an individual policy. However, the extra cost is worth the peace of mind life insurance provides.
Talk to your human resources manager or insurance rep today about group life insurance. Choosing this option means you protect and provide for your family at a price you can afford.

 

Jun 01
Love0

Five Medical Conditions That Affect Your Life Insurance Rates the Most

By Life and Health
You know you need life insurance, but finding affordable coverage is difficult if you suffer from certain medical conditions. Five specific medical conditions could be affecting your life insurance rates. Know what they are and how to address them as you find affordable life insurance coverage.
Heart Disease
Whether you have an official heart disease diagnosis or heart disease runs in your family, expect to pay higher life insurance premium rates. Lower your risk of developing heart disease when you adapt a balanced diet, exercise moderately for 30 minutes most days and stop smoking.
Diabetes
Type I diabetes typically develops during childhood, and this medical condition will increase your life insurance rates if you can find a company to insure you. Alternatively, adult-onset diabetes is sometimes manageable with dietary changes, exercise and medication. If you have Type 2 diabetes, commit to lifestyle changes and possibly see lower life insurance rates.
Cancer
Certain types of cancer, like skin cancer, do not affect your life insurance rates. However, other types potentially decrease your insurability or raise your rates. See your doctor for annual screenings if cancer runs in your family, and ask about other ways you can reduce your cancer risk.
Obesity
You might not feel unhealthy after a weight gain, but obesity can cause health conditions like heart disease. That means your life insurance rates will increase if you’re obese. Use the CDC BMI calculator to determine if you’re overweight. Because life insurance companies follow different weight guidelines, you can shop around and possibly find rates you can afford.
Pulmonary Disease
Asthma and COPD are two examples of pulmonary disease that affects your life insurance rates. While seasonal asthma will not increase your premiums, chronic conditions will cost you more.
Your medical conditions affect your life insurance rates, but every life insurance company has different guidelines that determine policy costs. Your life insurance agent will provide details about how your medical conditions affect your rates. Get those details today as you ensure you’re adequately covered by a life insurance policy that provides for your family.

 

Jun 01
Love0

Best Ways to Prevent Home Break-Ins

By Personal Perspective

Your home doesn’t need an expensive security system to prevent burglaries. Several simple but powerful steps help you secure your home and prevent break-ins.

Lock the Doors and Windows

Forty percent of burglaries occur because robbers can simply walk, crawl or climb into houses. Even if you’re at home, lock your doors and windows. Remember to lock basement, second floor and attic entryways, too.

Hide Valuables

Leave your valuables in plain sight, and you invite a break-in. Instead, be careful what you toss or recycle because thieves can use your trash to see what types of things they might find inside your home. Likewise, never leave valuables like your motorcycle or bike unattended in the driveway, and close your home’s curtains.

Pretend You’re Home

Even if you’re on vacation, you can pretend your home and fake out potential burglars. Leave your front porch light or an interior light on, turn on a radio and ask a friend to grab your mail and newspaper every day as you protect your home.

Secure Doors and Windows

Wimpy doors and windows give thieves easy access to your home and garage. Invest in quality steel doors and double paned windows for greater security. You can also install nails on your window frames to prevent someone from opening an accidentally unlocked window.

Maintain Your Landscaping

Instead to surrounding your house with tall plants that give thieves a place to hide, use your landscaping as a criminal deterrent. Plant prickly roses under windows, and keep all exterior plants trimmed. Cut off tree branches that extend to your roof, too, to deter access to your second floor.

Know Your Neighbors

When neighbors unite, crime decreases. Start a Neighborhood Watch Program or agree to keep a casual eye on the homes in your neighborhood as you prevent break-ins.

These tips help you avoid break-ins, but you also want to purchase or update a home insurance policy. While it won’t prevent a break-in, it does give you peace of mind if a burglar strikes. 

Jun 01
Love0

Are Overnight Guests Covered by Your Renters Insurance Policy?

By Personal Perspective

Renters insurance covers your possessions if they’re stolen, lost or damaged. It also gives you liability protection if you or someone else is injured while visiting you. You may wonder, though, if overnight guests who are not listed on your policy are covered by your renters insurance.

If Their Stuff is Stolen

Let’s say you and your guest go out for the evening and come home to find that all the electronics in your apartment were stolen, including your guest’s laptop. Would your guest be able to file a claim under your renters insurance policy?
Perhaps, depending on your coverage. When you purchased your policy, you included a value of all your possessions. If the value of the stolen items does not exceed your policy limit, then you can file a claim for all the stolen items, including your guest’s laptop.

Next, see if your policy covers actual cash or replacement value. Actual cash value coverage reimburses you the amount of money you paid for the item when you first bought it. Replacement value coverage gives you enough money to buy a new item at today’s cost. This policy detail determines whether or not your guest receives enough money to buy a new laptop.

Likewise, you have to prove what’s missing. You’re welcome to include your guest’s laptop in your claim, but you’ll need a physical description of the stolen item, including its serial number and value.

If They’re Injured

When one of your guests fall down the steps, your renters insurance may pay for medical treatment. The same theory applies to guests who stay overnight. Check your policy for liability limits, but rest assured that injuries your guest suffers while staying with you could be covered by your renters insurance.

If They Do Damage

Suppose your guest becomes clumsy and accidently smashes your glass figurine collection. File an insurance claim to replace the items. Whether you damage your belongings or someone else does, your renters insurance will cover it.

When will your next overnight guest arrive? Update your renters insurance now to ensure you’re ready for anything. 

Jun 01
Love0

Facts to Consider Before Serving Alcohol to Backyard Party Guests

By Personal Perspective

Now that summer’s here, you’re ready to invite guests over to party. What responsibilities do you have, though, if you serve alcohol? Consider these facts.

You’re Responsible

If one of your guests drinks and injures someone or causes an accident during or after the party, you could be responsible thanks to social host laws that vary between states. Understand your state’s laws and be prepared to serve alcohol responsibly because your intoxicated guests’ actions could become your liability.

Protect Your Assets

Your home, bank accounts and paychecks are at risk if you’re found liable for an intoxicated guests’ actions. Lawsuits could run into the millions of dollars, especially if someone is killed. Protect your assets when you:
*Stay sober

*Limit drinks

*Don’t play drinking games

*Say no when someone’s had enough

*Designate a driver to take guests home, call a taxi or let guests crash at your house until they’re sober
Never Serve Alcohol to Minors

Every state and even municipalities within a state enforce different laws about serving alcohol to minors. However, you’ll stay on the right side of the law if you don’t serve alcohol to minors during your backyard parties or leave alcohol available during parties your kids might host when you’re not home. Doing so could get you fined or jailed.

All Home Insurance Policies are not Created Equal

Home insurance policies can include social hosting liability that you’ll need if you serve alcohol to party guests. Review your policy today and make sure it includes adequate social hosting liability coverage. If it doesn’t, discuss your options with your agent or shop around for a policy that will protect you and your assets.

Backyard party season has arrived, but be careful when you serve alcohol. Know the facts so that you can protect yourself and your guests. Be sure to review your homeowners insurance policy, too, as you maximize your coverage and prepare to have a fun and safe summer.

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