This is default featured slide 1 title
This is default featured slide 4 title
This is default featured slide 5 title
 

Monthly Archives: March 2017

About Long Term Care Insurance

THREE WAYS TO PAY FOR LONG-TERM CARE

1. Pay for in-home caregivers and assisted living/nursing homes out of pocket. This is expensive and can often deplete a family’s life savings.

2. Meet a very specific poverty level and qualify for government assistance through the Medicaid program. Unfortunately, options are limited, only paying for nursing homes that accept Medicaid.

3. Buy a Comprehensive Long-Term Care Insurance policy. This protects your family’s assets from the rising costs of caring for someone who needs full time care. An employer might pay the tax-deductible premiums. Consider buying it at a younger age, when more affordable and accessible. It must be bought before a major illness strikes. Medicare and regular health insurance does not pay for long-term care. The average cost for a person who needs long-term care is $40-$70,000 annually, depending on where you live, plus the cost to the family caregiver who may have to leave their job.

QUESTIONS TO ASK YOUR INSURANCE AGENT

–Is the coverage comprehensive, meaning it includes all levels of care: in the home, assisted living, board & care, and nursing/dementia facilities?

–What is the daily benefit?

–Is there 5% annually compounded inflation protection?

–What is the elimination period?

–Is it a lifetime benefit period or a limited time benefit policy?

–Is there a spousal discount?

–Can you hire caregivers privately as well as from an agency?

–Is the home care benefit based on a daily, weekly or monthly maximum, and if the benefit is not used, can it be used in the future?

–Does it cover home care coordination of services?

–How many ADL’s (Activities of Daily Living) does it take to trigger a claim?

–Is there a time limit for filing a claim?

–Does it cover the cost of Adult Day Care & Adult Day Health Care, hospice and respite programs?

–Is it a tax-qualified plan?

–Is the company highly rated and have they ever raised premiums?

–Can you see the company’s published annual audit to check their track record for paying claims?

Protect Business With Proper Insurance

*Lost key coverage. This should pay to replace lost keys, adjust locks, or purchase and install new locks.

*Coverage for property in your care. This may include rental property, such as carpet cleaning or floor care machines.

*Theft of customer property coverage. This should cover losses incurred for theft and losses that occur from negligence, such as an employee who forgets to lock a building and allows a thief to steal your customer’s valuables.

*Limited pollution coverage. As a cleaning company your employees will most likely be working with an assortment of chemicals. You need to have coverage for accidental job site pollution that may arise from chemical spills.

*Business income coverage. If your biggest customer went out of business and your main source of income dried up, could you stay afloat until you had a chance to sign on new clients?

*Office equipment coverage. Check your policy to make sure you have enough coverage for your computers and office equipment. If you have a home-based business you might be able to get a rider attached to your homeowner’s insurance policy.
How do you choose an insurance carrier? To make sure that you get the proper insurance and the right types of coverage you should look for an agent that has experience working with businesses that provide janitorial services. Remember, the more your insurance agent knows about your business, the more confident you can be that he or she will provide a comprehensive program that meets your needs.

Look for a company that is financially strong and stable. It is also important to know that the company has a solid history of paying claims in a timely manner. Once you have an agent that understands your company’s needs you should consider buying all of your business insurance policies through one company. This saves on paperwork and you are more likely to make sure that all of your various coverages work together.

Once you have your policies in place don’t forgot about your insurance. Keep your agent informed of any changes in your business, i.e., new business location, new vehicles, etc. Also, make an inventory of all of your property; keep one copy at the business and one copy of the inventory off-site. Provide a good safety training program to your employees to reduce the likelihood of accidents and injuries.

Insurance Claim Handling Online

Claims Management System by Quick Internet Software Solutions (QISS), a comprehensive CMS, is a leading claims management software system that reduces cost and work and is Web-based to facilitate cross-location claims administration. For all claim types, medical bills are entered either via online screens by in-house repricing professionals, or they are digitally imported over the Web from third party repricing firms via electronic data interchange (EDI).

This data is then available for explanations of review, federal and state government forms, and check printing. Compensation payments are either manually cut or scheduled to ensure timely imbursement right from within the system. Home-screen diaries maintain notes for personnel working a claim and customizable, real-time reporting capabilities including Claim Loss Runs and summaries are two standard features in this claim manager. Going a step beyond, in the application service provider (ASP) model, QISS houses and maintains all claim system server hardware and software freeing the adjuster firm from IT firm concerns and ensuring that the latest security protections are taken. Because this insurance software is completely Internet-based, all the adjusters, underwriters, or clients need to use it is a free Web browser already on most computers.

Insurance Claim

Lost wages are one of the most important element’s of your damages. Listen to me carefully when I say, “You should not think about the days you missed from work as Lost Time and Earnings. It’s not Lost Time and Earnings – – it’s Lost Earning Capacity”

You ask, “What’s Lost Earning Capacity all about? I thought I could only collect for my Lost Income?” The answer to that is, “In many situations you can claim lost income EVEN IF YOU HAVEN’T LOST ONE SINGLE PENNY “. For example, this can happen when your salary is paid because you’ve elected to apply for the sick leave that’s due you, or because of an Accident and Health Policy available for you to take advantage of, or some other such arrangement.

In most instances – – even if you were paid while out of work – – you should still get that money routinely identified as Lost Wages. Why? Because that’s your Lost Earning Capacity. Your Lost Earning Capacity is what’s called a Compensatory Damage. Don’t let Strong swindle you out of that Compensatory Damage. Even if you’ve received an income, in some other way, you’re still entitled to it. Strong will do everything he can to take advantage of you, especially when it comes to getting paid for your Lost Earning Capacity. During the course of every settlement negotiation he gets involved in, he’ll try that tactic on for size, and it’s mind-boggling how often he gets away with it.

The typical statement made at that point, by the unsuspecting claimant is, “Hey, I understand I’m to be paid for my lost wages.”

Strong answers, “You collected $200.00 a week from your Accident and Health Policy didn’t you?”

“Yeah, but my average weekly income last year was $275.00 a week.”

“Okay”, I. M. Strong flashes a well practiced, winning smile, that tells you he’s a fair insurance claim adjuster, when in his black heart, he knows he isn’t, “We’ll pay you that $75.00 a week difference. Let’s see, you were laid up and unable to work for 5 weeks. 5 times $75.00 is $375.00. Don’t worry my friend, I’ll see to it you’re paid that $375.00.”

“Wow!” you think, “that’s terrific !.” You’re thrilled to death with this great turn of events.But what you don’t know is that the $200.00 a week you’ve received from your Accident and Health Policy has absolutely nothing to do with your lost income.The bottom line is that Smart has just cheated you out of a thousand dollars! And, worse than that, the $275.00 a week income you lost (for a total of $1,375.00) would have (in a court of law) given your case $4,000.00 to $5,000.00 more value in settlement dollars.

DOCUMENTING LOST INCOME: Ask the company you work for to write a letter on their official stationary declaring your gross salary income and the days you lost from work.

GROSS PAY VS. NET PAY: You should collect the “gross” wage’s you lost, not the “net”.

TOTAL DISABILITY and/or PARTIAL DISABILITY: For every week of Total Disability (a fact which must be stated in your doctors Final Medical Report) you should use your gross weekly income – – even if you were paid! (For every week of Partial Disability your doctor states in that Final Medical Report, you have the right to claim a substantial percentage of your income, during that period, even if you didn’t lose any).

Because the following five points give value to your claim be ready to talk with Smart about and, wherever possible, prove:

(1) If your work demands heavy labor and/or lifting. (2) If you lost any vacation time or sick leave. (3) If there was any possible loss of money you could have earned in the future – – either with your company or maybe other income you’ve got bubbling and boiling on the side. (4) If you had to forgo any bonuses. (5) If you lost an opportunity that would have led to a better job.

If any of the above five points are true than your claim is worth more money!

THE CRUCIAL MEDICAL REPORT: The Granite Mountain Insurance Company and Adjuster I. M. Strong know that the longer your recovery period, the greater your “pain and suffering”, therefore the higher the settlement value of your bodily injury claim. Your Chiropractor or Attending Physician must also note this in his Final Medical Report. Tell him to state exactly how long it will be, before you can get back to routine activities like golf, hunting, fishing and/or rockin’ and rollin’ with your lady friends.

As long as you have problems keep right on going back to see your doctor, again and again, even if it drives the poor bugger nuts! Do this because the fact that your records show a visit to him, four, eight, or twelve weeks after the accident, proves your injury needed constant attention, therefore you were unable to work. Also because, when you visit your doctor and tell him there’s no let-up of your pain, discomfort, stiffness or immobility – – those continuing problems must be written into the Medical Report he’ll provide for you when you’ve finished treatment. That’s the one you’ll hand to Adjuster Smart when the two of you begin to talk turkey. As he reads it you’ll watch him frown, then blanch as that cocky smile disappears from his face. When you see him do that you’ll know, “ya got him”!