I’ve not been keeping up my blog. I am going to work to try to do so from now on. I really appreciate it when I get suggestions as to what subjects you’d like to see covered.

Just email me or comment.

Thank you.

Did you know that there are an estimated 16.6 million workers employed at small businesses that are eligible for a tax credit because they offer small group health insurance? I find that may small business owners are not aware of the tax benefits or the potential impact on the group’s bottom line.

According to the IRS, the tax credit can be quite large. If you are not now providing benefits to your employees, did you know that even a small business with 10 people with an average wage of $25,000 per employee, and a total employee medical cost of $70,000 per year could get a tax credit of 35 percent of their premium cost, or $24,500?

I’m here to help. Call me [209-390-1163 or 855-MPMYERS] or email me with any questions.

Michael Myers

I don’t think it rocket science to note that anyone you talk to has financial needs. We need A Plan. You can’t get where you want to go if you don’t know where that is OR you fail to look at a map and consider the options.

Men and women deal with these needs and/or perceived needs differently. Most women will usually say they’ve not taken care of their future needs well enough, whereas many men just don’t want to think (or talk) about it. Since I’m a man, I can say that although I am not fatalistic, my inclination is to not want to think about things I have no answers to. This inclination I have to fight, because it of course makes no sense. One cannot find a solution if one spends no time seeking the solution.

When it comes to doing planning, women are often more willing to do this, despite any insecurities they may feel. Men do tend to resist doing this.

Speaking of planning … Did you know that today – there are less people with life insurance than ever in my 30 years in this business. The odd thing is that life insurance costs much less today, than it once did. And its not just life insurance where planning makes sense, but also planning for the times we are ill and suffer in some accident. That is also part of planning.

Many think that this would be too expensive, so they never really get the information they need. But if you buy a cup of coffee or other drink of some type each work day, chances are you actually will think it’s quite cheap (since it likely will cost less than the drink) – and the good feeling that one has when taking care of this cannot be described in words. You have to experience it.

I can help you plan. I can give you the information you need to make good choices that will not only protect you and your family – but also give you a peaceful feeling that you will not experience from other things.

Call me today at 209-390-1163 OR toll-free 855-MPMYERS or click the email button to the right and send me a message.

I’m looking forward to talking to you.

Michael Myers

Corporate bailouts. Higher taxes, Stock market losses, Record inflation, Political revolutions, Real estate crisis, High unemployment, and Soaring commodity prices. These are just a few of the topics that have swarmed headlines already this year. In today’s financial marketplace, whenever the news changes, the economy is right behind. With the economy surging and falling so quickly, it’s hard to know what to think. It’s even harder to determine how these changes will affect you.

It is easy to just not really examine this but its very beneficial to do so.

For instance, you may wonder why I included inflation. Isn’t inflation low? Well yes and no. The numbers reported to us seem low. However, the scale has been changed, with gasoline prices and home prices being removed. Food and clothing is not included in the CPI. Put them into the formula and the CPI is not 3%, but rather it is at record levels. So if you don’t buy gasoline, diesel, food, clothing or own a home, inflation is low. Otherwise, its at record levels.

What does this have to do with your retirement? Perception may make things seem okay, but it takes examining it to really come to a reasoned conclusion.

This is what I encourage you to to. I help people with this. If you have a retirement plan, either one you personally manage or one that is managed for you – give me a call and let me give you my two cents. It won’t cost you anything but a little time, but the payback to you could be significant.

I can be reached at 209-390-1163 or toll-free at 855-MPMYERS. Or, if you’d prefer, send me an email by clicking on the email button to your right.

Michael Myers

Each fall Medicare announces its deductibles and co-payments for the following year. The 2011 deductibles and co-payments have been announced. The biggest increase is an additional $32 for the hospital Part A deductible that must be paid for each hospital confinement that begins a new benefit period. The HDF and F+ high deductible amount did not change and remain at $2,000 for 2011 the third year in a row. (See Below)

These modest increases, in comparison to other things going on in the industry, further highlight that a person is generally served best by having Original Medicare and a good Plan F or High Deductible Plan F (depending on their finances and health).

I am here to give individual attention to your needs. Call me and I will help you decide which company has the best plan to serve you.

2011
Hospital Part A Deductible for first 60 days $1,132 ($32 increase)
Copayment for days 61-90 $283 per day ($8 increase)
Copayment for days 91-150 $566 per day ($16 increase)
Medicare Part B Annual Deductible $162 ($7 increase)
Annual Deductible HDF and F+ $2,000 (NO Change)
Plan K annual out-of-pocket limit $4,640 ($20 increase)
Plan L annual out-of-pocket limit $2,320 ($10 increase)

If you have recently been laid off, you may have been offered COBRA. COBRA provides insurance while a person is in between jobs. If you can afford it, you should purchase your COBRA offering, or buy permanent individual health insurance (I can help you with this).

However, if you cannot afford to pay for COBRA, and you are reasonably healthy and believe you will have group health insurance again, you might consider purchasing the “Cobra Alternative”, otherwise known as temporary health insurance. This will in almost all cases be less expensive.

Here is my link to price this for yourself (when you get to the page, look on the right side of the page) …

Michael

It’s not uncommon for people to have the view that insurance is like the lottery … a big gamble.

For a person who has never filed a claim, I guess I understand them having this view. However, I want to examine this conclusion for just a moment.

According to information posted on the Internet:

The odds of winning the California Super Lotto Jackpot are 1 in 18 million! Other lotteries may have slightly better “odds”, such as 1 in 15 million! (Feel better now?)  Here is another way of looking at it:  If one person purchases 50 Lotto tickets each week, they will win the jackpot about once every 5,000 years.

How do those odds compare to the odds of an insurance claim being filed?  For instance, what about the chances of ever needing disability income?

If you are currently 25 years of age, there is a 1 in 44 chance you will be disabled and unable to work at some point in your life.  This statistic increases with age, so that, when you are 55 years of age, the chances have increased to 1 in 27!

Similarly, what about the chances of  needing some type of in-home or facility care (non-hospital) when a person gets older?  To answer this, I will quote from the respected, Wall Street Journal, which stated

… a couple turning 65 has a 75% chance that one of them will need long term care.

This high risk can also affect the entire family where the children are at risk of a negative inheritance, also according to the Wall Street Journal.

Along these same lines, The National Academy of Elder Law Attorneys did a study and compared the risk of needing long term care with the risk of other financially devastating risks, such as a major auto accident, or a fire in a person’s home. According to that study, the rates of risk were:

• Automobile accident 1 out of 240 [0.4%]
• Fire damaging your home 1 out of 1,200 [0.08%]
• Needing long term care assistance 1 out of 2 [50%]

Of course the chance of dying is 1 in 1 [100%].

The biggest difference between the two “products” is – the lottery appeals to peoples desires, while properly selected insurance provides “Real Solutions for Real Risks”.  Sometimes the real reason we do not make decisions about insurance coverage, is that we “know” we can’t afford all the types of insurance we could buy, so we just kind of dismiss them all.

I am here to help you.

I will never pressure you to buy this or buy that. I will provide you objective and well-researched information to tailor the product to your need and circumstances.  This is true whether you’ve bought insurance in the past, or if you’ve put off buying insurance. I will help youget the best value for your hard earned dollars.

What is the cost of the insurance? Obviously this depends on you and your needs, but one thing I will assure you: it’s a lot less than buying lottery tickets!

Just ask … I can help! Call me at 209-390-1163 and I will show you the best way for you.

I write a lot to those retired. But I’d like to spend a little time talking to those of you still working.

What is your most important asset? Your home? Perhaps your health? What about your income?

Do you know anyone who has or had cancer, a heart attack, or a stroke? How about chronic backaches? Were you aware that conditions of the bones, joints, and muscles — such as bad backs or arthritis — are the leading cause of disability today? Did you know that cancer is the second leading cause of disability claims?

Why is this important? Because the chances of us facing such a reality is really quite high. We call that our PDQ – Personal Disablity Quotient. (Click on the link to figure your PDQ).

But if you have not protected your most important asset – all is not lost. I very likely can show you how to re-position the dollars you are currently spending to protect all the things that matter – and not leave out your most important asset in so doing.

Call me at 209-390-1163 or email me (michaelpmyers @ gmail.com) and I’ll show you what I can do for you.

There are 636,000 Medicare Advantage Plan Seniors that are being cancelled. About half of those enrolled in Medicare Advantage plans in my county are being impacted by this.

Now its true that some will find other plans to select from. But its important to understand that of the approximately 9,500,000 seniors still covered by Medicare Advantage Plans; many of these seniors are facing reduced benefits as many Medicare Advantage carriers are LOWERING BENEFITS TO SENIORS!
 
Simply stated, over 10,000,000 seniors are being impacted by the decisions being made in Washington.
 
I saw much of this coming, and this is why I have for a very long time advocated that Seniors – in most cases – are far better served by staying with Original Medicare and purchasing a separate, stand-alone, Part D (prescription) plan.

With the right Medicare Supplement, many, if not most, people – even after paying premiums – will have less out of pocket on health care costs.

For those impacted by this, (with a copy of their disenrollment letter), Medicare Supplements will be Guaranteed Issued with no waiting periods for any pre-existing health conditions. Everyone qualifies!

But even if this is not the case, let me help you decide what product serves you the best. I am here to help. Call me (209-390-1163) or email me today.