Long-term care insurance rates up 90%

Long-term care insurance rates up 90%--Will you have to drop it?

Some owners have seen their premiums go up from $1,844 to $3,504 in one year. If both of you have a policy, that means $7,000 a year for another 20 years on average--$140,000. Some insurers have even stopped selling new long-term care policies to individuals nationwide, including Prudential and MetLife. Many owners have had to drop coverage. newsobserver.com/2012/06/21/2152085/long-term-care-insurance-rates.html

Consider the alternatives: http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

Supremes go against Tea Party – Can the Bush regime be over?

Young people may stay on parent’s policy. Insurers can’t revive ‘pre-existing conditions’ in order to deny children coverage if they are sick. Some carriers have dropped child-only policies because of that provision. Perhaps you should shop for separate insurance for your child or young adult. If they are healthy, they may be able to get better coverage cheaper than you can in your employers' plan. It's worth comparison shopping.

We keep the rebate checks! Now, the law requires health insurers to spend at least 80 percent of their premiums on medical care, and to refund to customers amounts over the remaining 20 percent that would be grabbed by profit and overhead.  

Also keep preventive care such as mammograms, colonoscopies, immunizations and more. Medicare participants will keep their free prostate, breast and colon cancer screenings. Coverage will be reduced by each state so the poor will be hit first. States without separate laws or money will cut clinics. Some break the law.

We keep lifetime unlimited coverage. This was the most dangerous part for those of us who have serious and expensive illnesses. Insurers must pay bills for major problems. The wealthy are not the only ones to get lifesaving operations.

We will have new cost choices during the fall open-enrollment season. We will NOT have to give up some things. There will be a federal floor—basic guaranteed coverage.

States will have a hard time taking away contraceptive coverage, new treatments, drugs, etc that cost more. Some may even eliminate women’s health clinics in order to outlaw abortion.

American’s view of health ruled by advertising?

Most Americans say they disapprove of ObamaCare but like the provisions. No wonder: Critics have outspent supporters 3-to-1 in publicity campaigns. They argue "Obamacare" will put half of the U.S. economy in the hands of government. This is all nonsense. Private insurers would have millions of new customers. ‘Mandate’ was a GOP idea. It was pushed by Newt: people taking responsibility instead of getting free care at hospitals. http://www.theblaze.com/stories/2008-video-surfaces-of-gingrich-supporting-health-care-mandate/ Romney won in MA on mandate platform. Now that Mr Obama agrees, GOP against it. A few wealthy Tea Party zealots have paid 3 to 1 to reverse the American Congress. Wow!

The lowest level of support for ObamaCare comes from people who identify themselves as strong supporters of the tea party. Even in that group, though, nearly 60 percent favor what is in the law. Benefits trump ideology.

Surprise: One old white man—a Bush Supreme—saved the health of millions. What power, what glory!

TX limit on malpractice payouts fails to lower costs—Tort reform?

A new study has found no evidence that health- care costs in Texas dipped after a 2003 constitutional amendment limited payouts in medical malpractice lawsuits...

Are you subject to health tax?

The health care reform will be financed in part by tax increases on the wealthy. One section of the measure imposes a 3.8% tax on investment income for individuals who earn more than $200,000 annually and for couples who make more than $250,000.

Another provision imposes a 0.9% tax increase on wages for people in the same earnings categories. The revenue generated by both taxes supports Medicare growth. If your family earns $180,000 annually and realizes $30,000 in capital gains, the 3.8% tax on investment income would be applied to the $10,000 that exceeds the $200,000 threshold. If a you do not earn investment income but have an annual salary of $201,000, the $1,000 over the threshold would be taxed at a 0.9% higher rate. Most people can avoid it by buying municipal bonds, growth stocks and pension plans. You could convert traditional individual retirement accounts into Roth IRAs, which don’t require a minimum distribution either. Create your own Tax-FREE financial system: http://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466

Regulators warn about variable annuities … again

The problem is that the investor “may be paying more for a less generous living benefit, and in the bargain he or she has agreed to limit the investment options, thereby restricting the potential for participation in equity market gains.” Compare the options before you buy: http://www.amazon.com/Not-Buy-That-Annuity-Guaranteed/dp/1466494573

SD & WI will not follow the law— E pluribus unum?

Dennis Daugaard says he's dismayed by the Supreme Court decision upholding the federal health care law, but the state will delay implementing any part of the law until after the November election. Gov Scott Walker refuses to implement the federal health care law, despite the Supreme Court's ruling to mostly uphold it.

SCAMS           “Only the little people pay taxes.” Leona Helmsley

Contempt of Congress?

Morgan Chase now says the loss on speculation could hit $8 Billion not $2 B Dimon reported to Congress.

Bankrupt city discards union contracts and debt—wave of future?

Stockton, Calif.'s bankruptcy filing will allow it to get out from under mountains of debt and costly union contracts, but is not indicative of the financial health of other municipal bond borrowers around the country.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts available at http://dankeppel.blogspot.com/

MA loves universal mandate despite Romney flip

MA loves universal coverage despite what Romney says

Universal coverage, including an individual mandate, has evidently not hurt the Massachusetts economy. It may have even helped the state's strong tech sector by providing health care security for entrepreneurs starting businesses.

The Tea party hates the mandate until they go to the hospital. Most Tea people are for Medicare—the single payer mandate.

This is the GOP plan. “Live free and pay through the nose” AFTER you get sick?

FSA may become “use-it and use-it” not "use-it-or-lose it"

Flexible spending account owners forfeit any unused balances. The "use-it-or-lose it" rule was initially put in place to keep highly-paid workers from abusing the program by deferring taxes on large amounts of salary, essentially using the program as a tax shelter. In 2013, however, the maximum FSA contribution will be limited to $2,500, which invalidates the original purpose of the rule. While the fate of the House legislation is uncertain, the IRS is also looking at the possibility of lifting the FSA "use-it-or-lose-it" rule. This account is used to pay any out-of-pocket medical expenses not covered.

RomneyCare is what we already have—millions without insurance

At a rally, he said he would prevent people with pre-existing medical conditions with a history of health coverage from losing their insurance. Doesn’t say how. Romney said he would also press for more private insurance options for senior citizens from Medicare and help states address the needs of an estimated 50 million uninsured Americans by freeing up federal funds from the national Medicaid program for the poor. "It's important for us, in my view, to make sure that every American has access to good healthcare," he said while offering few details on his proposals.

We have access now, we just can’t afford it. Romney can’t understand the situation because he can fire his insurer and get another one. Actually he is self-insured with $200 million in offshore banks he can afford to pay $2 mil out of pocket.

Do you really need life insurance later in life?

Sellers claim that you need to buy life insurance for three reasons. 1. Protect your family from loss of income if you die prematurely. 2. Estate taxes must be paid and you would have to sell something to pay the tax in 9 months. 3. Funerals are expensive. Only one of these is a legit reason and you don’t need to pay for the expensive permanent life insurance to take care of your family. Term coverage is cheap and takes care of reason #1.

Estate taxes begin after you have $5.12 million in assets. If you and your spouse title assets equally, you have no worries for $10 million. If you have that kind of money, there are many solutions that cost less than insurance. #3 can be taken care of with many of the same solutions. Few people need to buy expensive insurance for funerals. The premium is more than you can accumulate in any low-cost mutual fund. Besides you can specify how you want your funeral handled and plan for the costs. You might even give your body to science so someone else might be helped instead of having family cry over your body and then ‘store’ it under ground.  

Members use our Insiders Guide: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X/

How much are you paying your 401k or regular mutual fund’s directors?

These wealthy people meet 4 times a year and some take home $260,000 a year each! That is all they do for you. They are usually picked by the management company so they don’t really get to live up to their job—Stewardship. They are supposed to be on your side when it comes to keeping fees down and keep the manager honest. They get paid for being a rubber stamp, let’s face it. If they really did what you paid them for, they would not allow managers to do the things they have done—pay for bad performance and give special deals to big investors. The directors get to stay as long as the manager wants their votes. Even the Supreme Court has seen that directors “cannot, as a practical matter, sever its relationship with the advisor.” http://www.mpiweb.com/content/view/71/

Stop paying for expensive managers and their friends’ $260,000 club. The costs are not shown on your statement. If your money earns 5%, you only get 3.5%. And they get raises every year so you end up paying about 40% of your total nest egg for nothing. Member avoid the high-cost funds: http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

Is talking to your car really worth all the problems?

Ford thinks it is. Ford hit the [near] bottom of the list of J.D. Power & Associates annual Initial Quality Survey of new-vehicle owners. You have to reboot your Ford now.  Jaguar (India’s Tata) finally got it together and improved from 20^th to 2^nd. Lexus is 1^st with Honda family 5^th. So if you can do without the distraction of a computer screen in your face, you might find a value—quality at right price—in a regular ride. Yes, people actually yell at their car when it doesn’t understand English. Duh. That’s what people are for. 

http://autos.yahoo.com/blogs/motoramic/key-car-quality-study-ranks-software-bugs-most-170243393.html

Will Social Security benefits grow in future?

Falling housing prices, diminished 401(k) accounts, and the growing number of adult children returning home are among the factors leading two thirds (65%) of Americans aged 48-60 to believe that they will have to work beyond the age of 65. If we work after age 65, we will add to the credits of our SS benefits. We also can make sure we can afford health care. We can build our own “lifestyle” security and not have to worry about government benefits. We have enough time to do it:  http://www.amazon.com/Forget-Social-Security-Medicare-Lifestyle/dp/1466394285

CA wants to give workers, without 401k, a pension run by private managers

Supporters say employers just don’t want to deal with pensions. There are 7 million workers who don’t have access to a plan at work. Under the bill passed by the Senate, employees would defer 3% of their salary into the plan unless they opted out. Employers could make matching contributions. The plan would guarantee a minimum return tied to the 30-year Treasury bond rate. (Vanguard’s VUSTX= 9%) Industry groups are fighting the bill even though they would be the recipients of $ millions in fees.

Is a reverse mortgage right for you?

This expensive way to get cash out of your house may be your only alternative. It assumes you have equity and few other assets. However, before you make this decision, study your alternatives. RM is expensive—just like a regular mortgage. RM is an investment for the bank so they are NOT likely to give you a break on fees or rate. RM is usually irreversible. Yes, your family can buy your house back from the bank when you pass, but again, it is on the bank’s terms. The alternatives include home equity line of credit. In these low interest times, you can pay 3.24% on $200,000 with no fees. Some allow interest only payments. $200K in a balanced fund might earn 7% and you don’t even touch the principal. Or, you could sell your house to the kids for monthly income or to pay off debts. Some people have rented out a room to gain income. Others have moved to a smaller place and lived on the rental income from the old. RM does not allow this flexibility. An outright sale provides cash to rent or downsize. RM makes little sense with cheaper alternatives.

Socialism for the rich—Hungry will have to rely on charity

A New York senator will try to cut $4.5 billion from the nation's publicly subsidized crop insurance program to preserve spending on the nation's food stamp program.

Sen. Kirsten Gillibrand, D-N.Y., will offer an amendment to the new farm bill that the Senate could vote on as early as Tuesday. The farm bill, which is of particular importance in Minnesota and other Farm Belt states, contains an expansion of the crop insurance program designed to make up for the elimination of direct payments to farmers.

Gillibrand said on Monday that the Congressional Budget Office has estimated that food stamp cuts currently in the farm bill would take away an average of $90 per month in payments to nearly half a million households.

Will lobbyists or the poor win?                      Lobbyists won—Agribusiness got more!

Did you ever wonder how Mr Romney paid less than 15% tax on his $21 million income last year? Warren Buffett says he doesn’t hide his wealth in offshore accounts like Romney and pays only 17%. You can reduce your state and federal taxes too. Law Steeple, one of our Insiders, shows you how.

Tax-FREE Retirement: Use the tax code for lifetime income free of tax

Only $12.95 http://www.amazon.com/Tax-FREE-Retirement-code-lifetime-income/dp/1475206976

SCAMS           “Only the little people pay taxes.” Leona Helmsley

“nonprofit” Insurers sit on $1 billion while sick go without insurance

WA Premera Blue Cross and Regence BlueShield each now have surpluses of more than $1 billion, according to their most recent filings for the three months that ended in March, The Associated Press reported. The annual double-digit increases in premiums over the past several years have forced employers to pass on more of the costs to employees or stop offering insurance as a benefit. The cost of individual health policies in Washington more than doubled between 2005 and 2011. Yet despite the high costs, people have little choice but to buy coverage -- for now. Having no health insurance puts families at risk of financial ruin.

CA insured to get refunds—Travelers charged wrong rates?

Insurer Travelers Companies will pay $10.5 million in refunds and penalties for violations. Travelers will refund $9 million to customers and pay a $1.5 million fine for violations in the first six months of 2006, the state said. Examiners looked at nearly 1,300 policies and found about 220 errors, mostly related to improper underwriting or the improper application of rates.

BoA Merrill caught overcharging customers since 2003

Merrill will pay fine and reimburse $32 million to 95,000 customers. Time to move your account?

America for sale? President for sale? Our representatives for sale?

Oracle's Larry Ellison just bought a Hawaiian island. He paid $600 million; no tax. He has $36 Billion left.

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts available at http://dankeppel.blogspot.com/

Financial power for the 21st century

Financial power for the 21^st century

Will you have enough in retirement? Now is the time to find out.

You could have about $250,000 extra to supplement your Social Security benefits in about 15 years. Will You Have Enough? takes you through the process of determining how much you will have. Law Steeple has been an industry executive for over 20 years.

http://www.amazon.com/Will-You-Have-Enough-retirement/dp/1477594086/ $12.95

Seniors are the target of scammers—“That is where the money is”

Nearly 60% of the respondents — all professionals who work with the elderly — to an online survey conducted by Investor Protection Trust said that they deal with elderly victims of investment fraud “quite often” or “somewhat often.” Nearly every one of the 763 participants in the survey said that the problem of financial exploitation of the elderly is “very serious” or “somewhat serious” and 84% said it was getting “much worse” or “somewhat worse.” The survey by the nonprofit included 76 state securities regulators and 77 financial planners, in addition to medical professionals. Members have solved that problem: http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

CA insurer manipulated system to get rid of sick? This is RomneyCare?

Blue Shield has used enormous rate hikes, and the threat of rate increases, to force patients into lower-benefit and higher-deductible health coverage in violation of state law. BS gamed the system by alternately closing older policies and opening new ones in order to push older, sicker consumers who are more expensive to insure into lower benefit, higher deductible coverage that requires consumers to pay more out of pocket.

The lawsuit seeks to stop Blue Shield from shoving its policyholders into what is known as a "Death Spiral"–the industry term for what happens when a health insurer "closes" certain insurance policies to new customers, and later raises rates to those remaining in the closed policy until those enrollees can no longer afford coverage. "Blue Shield closed my family's policy and then threatened us with a 23% premium increase. We had no choice but to switch to the only bare bones policy Blue Shield offered us. When Blue Shield canceled the original rate increase, the company refused to let us transfer back into our old, higher benefit policy. Then, Blue Shield raised the rate of our bare bones policy by 14.8%!" said Robert Martin of Gilroy, litigant.

Middle class can’t sustain American economy—Rich take more income!

The average American family saw their net worth drop 40% in that three-year time period from $126,400 to $77,300. Three-quarters of the loss, not surprisingly, is due in large part to falling home prices, which have seen no reprieve since the housing bubble began to burst in 2007. The average homeowner saw their net worth fall more than $70,000 from roughly $250,000 in 2007 to $175,000 in 2010. But what is surprising is the fact that overall net worth has fallen to levels not seen since the early 1990's, long before the housing bubble even began. In three years, 18 years of savings have been wiped away for the majority of the country and at the same time wages have fallen. The average income fell from about $50,000 in 2010 to $46,000 in 2007.

But this negative trend does not stop there. As average families become poorer, rich Americans are growing richer. The Fed survey showed the wealthiest 10% of families actually saw their net worth rise from 2007 to 2010. Over that time period, their net worth increased from $1.17 million to $1.19 million. http://www.federalreserve.gov/pubs/bulletin/2012/pdf/scf12.pdf

Where have all the job-creators gone with their Bush tax cuts?

The continued decline of the American middle class and the ascent of the rich has resulted in income inequality at levels not seen since the Great Depression. While the bulk of consumer spending has historically come from the middle class, if the majority of Americans continue to suffer from falling wages and income, eventually something has got to give. There is no possible way for the super-rich to buy enough stuff to float the entire U.S. economy.

It's growing increasingly clear that we live in drastic times and drastic measures must be taken to save the country's middle class. One drastic measure is that more Americans are putting off retirement because they simply can't afford it.

But with Americans living longer and putting increased strain on programs like Social Security and Medicare, the retirement age is going to have to be raised for one reason or another.

Members create a tax-FREE Wealth Reserve: http://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466/

Your Affinity group may obtain discount insurance

Members of Ducks Unlimited, the world leader in wetland and waterfowl conservation, now have access to special group discounts on auto, home, and other property and liability insurance from MetLife Auto & Home and other national insurance companies through a new program designed just for members of Ducks Unlimited. Your alma matter or church or civic organization my offer you a discount too. Check our list: http://www.amazon.com/gp/product/143480593X/

Insurers give back premiums

Health insurers are expected to rebate $1.3 billion in premium charges to employers and consumers by August because the companies didn't spend enough on customer coverage in 2011. "This study shows that asking insurance companies to put more of their premium dollar toward patient care rather than administration and profits is not only popular but also effective. There are tangible benefits for consumers and employers," said Drew Altman, Kaiser Foundation president and CEO.

Insurers and employers say they will continue with reforms despite Supremes’ political decisions

Some insurers will continue to offer important health care insurance protections that were included in the 2010 health care reform law, no matter how the U.S. Supreme Court rules in cases currently pending before the Court. For instance, there are 7 millions of young on their parents’ insurance because they have no affordable coverage. The GOP may force them off and raise the uninsured to over 50 millions. “Fewer Americans would need to remain on their parents’health insurance if they had stable, full-time work,” GOP DeMint wrote. Yes, the point is they don’t.  http://www.businessweek.com/news/2012-06-08/health-law-adds-6-dot-6-million-young-adults-to-parents-u-dot-s-dot

Socialism for the rich—Hungry will have to rely on charity

A New York senator will try to cut $4.5 billion from the nation's publicly subsidized crop insurance program to preserve spending on the nation's food stamp program.

Sen. Kirsten Gillibrand, D-N.Y., will offer an amendment to the new farm bill that the Senate could vote on as early as Tuesday. The farm bill, which is of particular importance in Minnesota and other Farm Belt states, contains an expansion of the crop insurance program designed to make up for the elimination of direct payments to farmers.

Gillibrand said on Monday that the Congressional Budget Office has estimated that food stamp cuts currently in the farm bill would take away an average of $90 per month in payments to nearly half a million households.

Will lobbyists or the poor win?

Two of our “friends” helping Iran evade sanctions by giving insurance and we let them!

Indian state-owned refiners will halt planned oil imports of 173,000 barrels per day from Iran when European sanctions take effect in July, unless the government permits them to use insurance and freight arranged by Tehran, industry sources said. Japan's cabinet ministers approved and submitted a special bill to parliament on Monday to enable the government to provide insurance cover for Iranian crude imports once a European Union ban on insurance and reinsurance takes effect on July 1.

Plus ING Bank pays fine to bank for IRAN

ING Bank NV agreed to pay $619 million to settle U.S. government allegations that it violated U.S. sanctions against Cuba, Iran and other countries. It was the biggest ever fine against a bank for sanctions violations, officials said.

SCAMS           “Only the little people pay taxes.” Leona Helmsley

Will States need a bailout next? 

Banks cash-in on their own failed products. New York State, for one, has paid $243 million in recent years to extricate itself from swaps-related debt. That money went straight from taxpayers’ pockets to Wall Street.

Corporations rarely do deals like these, because they generally avoid making long-term bets on interest rates. But bankers sold the idea to public borrowers. The total bill to terminate all of these swaps-related deals would run into many billions.

“Derivatives are time bombs,” Warren Buffett

http://www.nytimes.com/2012/06/10/business/banks-could-return-a-favor-to-governments-fair-game.html

Insurers low-ball your claim by changing settlement software program

A newly released report by a former Allstate Corp. claims executive working at a consumer rights group alleges that most of the nation's biggest insurance companies use computer systems that can be manipulated to underpay injury claims.

The report was issued Monday by the Consumer Federation of America, whose claims project director, Mark Romano, had worked for the Northbrook-based insurer, as well as CNA and Hanover. Romano last year joined the Consumer Federation of America as claims project director.

"This report is a wake-up call for consumers and regulators who are not aware of the many ways that computer claims' software can be manipulated to produce unjustifiably low injury payments to consumers and tens of millions of dollars in illegitimate 'savings' for insurers," Romano said in a statement.

We have to hire a claims adjuster to speak for us. http://www.consumerfed.org/news/536

AIG continues to play games with the law despite US ownership

AIG will pay California $15.6 million in penalties to settle allegations that its insurance companies underreported workers' compensation premiums over several decades. America still owns AIG but treasury lets them carry on these scams

Our ‘representatives’ bought $180 million in drones that just sit near border

Sounds like another military industrial complex cost overrun at the Pentagon. “We don’t need anymore.” “Sorry, we already gave the $ billion contract to AeroVironment for more drones instead of helos.” http://cdn.theatlantic.com/static/mt/assets/science/OIG_12-85_May12.pdf

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts available at http://dankeppel.blogspot.com/

How much can you spend in retirement?

Do you know how much you can spend in retirement?

Check your plan before you hit retirement. You have time to fix it if you don’t have enough. You can check your Social Security benefits online at http://www.ssa.gov/mystatement/. Complete the worksheet for definite answers in

Your Retirement Spending Plan

http://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

Did you know your 401(k) fees may be 46 percent higher than fees required?

Most of us don’t know how much we are paying. Most of us believe the Wall St myth: Employees believe that higher fees guarantee higher returns, according to a recent study. Actually, the opposite is true. Lower fee index funds often have higher net returns than higher fee actively managed funds. Stock pickers can’t pick the right stocks all the time AND charge fees that are up to 40 times higher--$5 per $10,000 vs. $271 every year. Compare your plan to others: http://www.brightscope.com/401k-rating/367778/Google-Inc/372789/Google-Inc-401K-Savings-Plan/

Most mutual fund holders can save $3,000 a year on fees by switching to the low-cost leader and NOT suffer poor returns. Over time, our members have increased their nest egg by $200,000 to $500,000 by using the two low cost firms: http://www.amazon.com/Create-Your-Tax-FREE-Financial-System/dp/1466367466/

Can you save on home insurance claims?

Yes. Basic maintenance can save the expense and time of home losses. Here is a checklist of things that you can do: https://www.travelers.com/personal-insurance/renters-insurance/home-maintenance-guide.aspx#spring

Need an unbiased planner to check your plan?

Vanguard, owned by its shareholders, not the fund managers, is offering planners to help you make sure you have what you need. Trained to advise not sell, these Vanguard employees may help you with little or no cost to you because you are a shareholder.

https://personal.vanguard.com/us/whatweoffer/advice/certifiedfinancialplannerABTest?Link=facet2

Women lack nest egg for retirement and live longer—Double disaster GOP could fix

There's a gender gap in the workforce, and it needs to be addressed. Women earn 77 cents for every dollar men earn -- 64 cents for African American women and 56 cents for Latinas -- which adds up to a loss of about $431,000 over the course of their professional lives. No one, on either side of the aisle, wants women to be discriminated against in the workplace. And yet, the Paycheck Fairness Act failed in the Senate on Tuesday. The procedural vote was along party lines, with 46 Republicans voting against it, 50 Democrats voting for it, two independent senators joining the Democrats, and Republican Senator Mark Kirk of Illinois not voting at all. Members create tax-FREE fund for family survivor:

ObamaCare benefits unknown to 80% of Americans

78 percent of consumers who would be eligible for new health care coverage under the Patient Protection and Affordable Care Act have never heard of the state-based health care exchanges where they will have to shop for coverage beginning in 2014. In addition, 60 percent of respondents said they believe they will need help in understanding health care insurance terms and descriptions and navigating the complex health care system. It is no wonder that the public is unfavorable.

Can GOP buy the President position next?

Unions outspent by Koch’s governor Walker in WI—a 21 to 3 ratio election dollars

"This is one election," Chris Fleming, the media director for the American Federation of State, County and Municipal Employees, told Yahoo News of the recall, adding that the left was heavily outspent in this race. "We cannot compete with the Koch brothers and all of Walker's millionaire and billionaire megalomaniac friends who want to take control of the government." Walker personally raised about $21 million, significantly more than the $3 million raised by Democratic challenger Tom Barrett, the mayor of Milwaukee. And Walker additionally benefited from major spending by outside tea party groups and super PACs.

SCAMS           “Only the little people pay taxes.” Leona Helmsley

AFLAC’s duck gets plucked for messing with customer cash

State split up $1.6 million settlement with Nebraska-based American Family Life Assurance Co., known as AFLAC, after a multistate investigation found numerous problems with the insurance company's practices. Regulators found almost every insurer scam that has been practiced over the years, including agent promises not from insurers, duplicate coverage, churning, pushing bad products, changing dates, rebating and illegal incentives. AFLAC gets to continue these until December because they didn’t admit they were wrong. The $1.6 million will be added to the premiums. No one goes to jail. 

-- Lack of proper supervision of sales, ads made and distributed by insurance agents/brokers, and bonuses and other incentives

-- Sales of duplicate accident and health coverage

-- Sales of policies that replaced or converted existing ones

-- Cross-border sales

-- Suitability/overselling

-- Policies that had waiting periods

-- Record retention and claim-date stamps

-- Discounts and special offers

-- Offering value-added services

AFLAC has not admitted or denied any legal violations. The company agreed to submit compliance reports to the department every six months for a total of three years, starting this December.

Cult leader lived on members death benefits but now charged with murder

The self-proclaimed leader of a Kansas commune that lived off life insurance payouts of its dead members has been ordered to stand trial on a charge of premeditated first-degree murder. Sedgwick County District Judge Clark Owens entered the order Thursday at the end of a preliminary hearing for 52-year-old Daniel U. Perez. Perez is accused in the 2003 death of Patricia Hughes at a compound near Wichita. It was initially listed as accidental. Defense lawyers contended there was not enough evidence to put Perez on trial. Owens disagreed and scheduled a jury trial for July 30.

Life insurance policy requires the beneficiary have an “insurable interest.” Was Hughes Perez’s wife? Was agent in on another scam gone bad?

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Alerts available at http://dankeppel.blogspot.com/

35,000 wealthy households paid $0 tax

Rule for brokers to “do the right thing for the customer” put on hold …again

DOL and SEC likely will delay any moves until after Nov. vote. Lobbyists have been working on the delay for two years. Obama won’t push the “fiduciary” rules until after the election. We will have to wait to obtain this protection against the industry taking advantage of us—pushing bad and expensive products—with no full disclosure. Members assume there is no unbiased advice and buy direct for less:  http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/dp/143480593X

Three investors beat up their advisor for losing $3.6 billion—investors, not advisor, sent to jail

Three German senior citizens were convicted last week of kidnapping and brutally beating their financial adviser. The unhappy trio, who range in age from 61 to 80, bound and gagged the adviser, James Amburn, broke two of his ribs, then tossed him in the trunk of a car for a 300-mile drive to a lakeside house. There, he was imprisoned in the basement. The three abductors were upset because the adviser lost $3.6 billion of their money on investments in Kuwait and Florida real estate. The trio forced Mr. Amburn, 58, to sign papers stating he would get them their money back. He faxed a note to SWAT who freed him. The investors, not the advisor, got 15 years.

Housing has become the new Gold

House hunters are flocking to foreclosures. Low mortgage and low price can’t be beat!

http://www.usnews.com/news/blogs/home-front/2012/05/30/house-hunters-flocking-to-foreclosures-for-value

Gold value dropping like lead during Ero crisis

It fell 6% in May alone. For many investors, this commodity was the refuge they dreamed about. It was considered the “safe” investment. It was nirvanna for GOP conservative Ron Paul. However, commodities do not hold their value over time. Like real estate, they go through bubble phases. How can you invest for the future in an unsettled world? Hang on! Money is pouring into index funds. There is the No Sweat Way: http://www.amazon.com/No-Sweat-Investing-your-money/dp/1469961687/ by Insider, Law Steeple.

401(k) fees could reduce the average nest egg by 30%, study says

The average U.S. couple could pay nearly $155,000 in fees for their 401(k) plans over their careers, according to a recent study. Compare how much you are paying at http://www.brightscope.com/401k-rating/367778/Google-Inc/372789/Google-Inc-401K-Savings-Plan/. If you earn 5% but pay 1.5%, and lose 2-3% to inflation, net 1%. 

http://www.latimes.com/business/la-fi-401k-fees-20120530,0,6918904.story

You can do something about it now before you lose $155,000. Lower fee plans are available. Use our http://www.amazon.com/The-New-American-Retirement-System/dp/1461030072

Boomers leaving money to charity not the kids

Leaving a legacy in a bequest was up nearly 19 percent in a year to almost $23 billion in 2010, according to the nonprofit Charity Navigator. Baby boomers have especially been interested in establishing a legacy. Three-fourths recently told pollsters that passing down family values and life lessons was more important than the monetary amount they're leaving in an inheritance, according to a recent survey by Allianz Insurance.

"We grew up in a do-good generation -- we were going to change the world," said Christine "Christy" Lambertus, a Fort Lauderdale board-certified, estate-planning attorney who is planning to leave a legacy. Members plan their wealth transfer wisely: http://www.amazon.com/Your-Retirement-Spending-Plan-enough/dp/1461084016

Is high-deductible health insurance right for you?

More than 13.5 million Americans are covered by Health Savings Account (HSA)-eligible insurance plans, a more than 18 percent increase since last year, according to a new census. If you have few health needs, this may the right plan for you. You buy a comprehensive policy that covers all major medical needs with a high deductible. This makes the cost reasonable. If you have surgery, all is covered after the first $3,000 for instance. If you have to buy insurance, the premium is cheaper than a HMO or PPO. The HSA is an account that lets you pay for your deductible and small out-of-pocket expenses with pre-tax income. This means that many self-employed people are going to pick this option in order to control their health and tax bills better. If you are offered this plan at work, take the expenses you had last year and compare to HMO costs. Make sure you can see specialists, your own doctor and hospital. Use our Guide to help you compare:

http://www.amazon.com/Industry-Insiders-Guides-Buying-Insurance/dp/1466435712/

ObamaCare benefits cited by Washington State officials

Reform would extend Medicaid coverage to 328,000 of the state's uninsured and give premium subsidies to another 477,400. Those who don’t have care would be able to use the state’s exchange to buy it. The Plan is not perfect but is better than the current lack of insurance for 74% of state’s uninsured residents. Three old white guys will decide to reverse the law of the land this month. Many pray.

http://insurancenewsnet.com/article.aspx?id=344296&type=lifehealth&inl=1

SCAMS           “Only the little people pay taxes.” Leona Helmsley

35,000 wealthy households paid NO taxes in 2009, says IRS this week

"Under Obama's plan, these people would almost certainly pay more. Under Romney's, they will almost certainly pay less." Percentage of high earners avoiding taxation on the rise; tax-exempt interest from muni bonds and charity are the main drivers. http://www.irs.gov/newsroom/article/0,,id=257605,00.html

Welfare for Rich: Farm bill gives payments to corp as soon as they claim revenue down

Agribusiness can start collecting as soon as their accountants can show a revenue drop. Corp will no longer have any risk of too much crop that lowers prices. The supply-demand market will not work. Prices will be supported. We will pay them more in subsidies as prices of bread etc fall. Deficits will rise. Senate takes up bill.

http://www.aei.org/article/economics/fiscal-policy/field-of-schemes-the-taxpayer-and-economic-welfare-costs-of-shallow-loss-farming-programs

US Corp CEOs hit jackpot—a $10 million average paycheck: Workers lose 7% and falling

The head of a typical public company made $9.6 million in 2011, according to an analysis by The Associated Press. That was up more than 6 percent from the previous year, and is the second year in a row of increases. The figure is also the highest since the AP began tracking executive compensation in 2006. Companies trimmed cash bonuses but handed out more in stock awards. For shareholder activists who have long decried CEO pay as exorbitant, that was a victory of sorts? http://www.usatoday.com/news/nation/story/2011-09-13/census-household-income/50383882/1

IAN

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