Friday, September 21, 2012

Is Long-Term Care Insurance right for you?

Is Long-term Care Insurance right for you?
Rating firm Moody's says the health of the long-term-care business is questionable. Of the 15 companies that generated the most statutory earned premiums for LTCI in 2010, five either no longer sell the product or have curbed sales. The list includes John Hancock Life Insurance Co., MetLife Inc., Unum Group, CNO Financial Group Inc. and Prudential Financial Inc. Many owners have to drop coverage as premiums rise. 

Is dog bite protection right for you?
Dog bite claims are on the rise and account for more than one-third of all homeowners insurance liability claim dollars in 2011. Every owner thinks their pet is God’s gift so coverage is not considered. Reality sets in when you receive a notice of suit. Between medical and settlement costs, your homeowners may not pay all. For a couple of hundred dollars you can protect yourself with an umbrella liability policy. Some breeds are NOT covered so ask. Most dogs respond to young children well but practice with known situations. Consult specialists if your pet is aggressive with the unknown. Use our Guide to pick the right “umbrella:”

Don’t stand near post office buildings
U.S. Postal Service asks Floridians to stop crashing into post offices
This year so far, eight drivers have crashed into post offices in Central Florida alone. Post office “tips” include: Visibly check to see whether your foot is on the gas pedal or the brake pedal," and "Visibly check to see if the vehicle is in Park, Reverse or Drive."

Medicare premiums will rise only $1.47 next year – overall spending down
Monthly premiums for popular private insurance plans through Medicare are only inching up next year, the Obama administration said. Average monthly premiums for Medicare Advantage plans will rise by $1.47 in 2013 to $32.59, said Blum. When premiums and out-of-pocket costs such as co-payments are combined, Medicare estimates that beneficiaries will actually spend less on average. e administration says Medicare Advantage premiums have gone down 10 percent since the president's health care overhaul passed in 2010.

KS questions Obama’s birth and presidency AGAIN—GOP never gives up
Kansas election officials on Friday were seeking to obtain a certified copy of President Obama's birth certificate as they determined whether to allow him to remain on the ballot after a state resident challenged his citizenship. Here it is:
GOP never gives up or has KS moved that far to the right?
Romney never had to prove he wasn’t a Mexican.
It is only because he is black that Obama has to show he is American

GOP hopes to win election by ending our deductions!!
If elected president, Mitt Romney has promised he will create 12 million jobs, replace Obamacare and the Dodd-Frank financial reforms, slash corporate tax rates, preserve the Bush income tax cuts, and then cut an additional 20 percent to boot. And, oh yes—balance the budget.
How does Romney propose to pull off this feat of budgetary magic? He isn’t saying. He has said he wants to end loopholes to pay for this: charitable giving ($47 billion), mortgage interest ($89 billion), retirement savings ($118 billion), and employer-provided health insurance ($131 billion). Aren’t these cuts going to raise our taxes?

How much do we really spend out of our paycheck? Less than HALF?!
Elections are about taxes. In 1960 middle-income Americans paid less than 30 percent of their earnings in local, state, and federal taxes; today that figure is up to 40 percent. Many middle- and upper-income families living in the states that have the highest taxes, such as New York and California, pay nearly 50%—HALF—their incomes in taxes. High taxes reflect the growth of government. Subsidies go to every group.
We pay Federal and state income taxes, Social Security and Medicare, state sales tax, gas tax. In some states, we pay workers compensation insurance, family leave insurance, disability income insurance, unemployment insurance. Some of us then have to pay our employer for union dues, health insurance, life insurance, long-term care insurance, etc. Some then have chosen to pay for retirement 401k, 403b, etc. Some also pay property tax, homeowner fees, road tolls to get to work, etc. Some pay interest on cars, etc. Some pay student loans. Some give a tithe to religion. The only tax credits we have are taxes, charity, mortgage, retirement and health insurance. Now even these are at risk.

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

Who are the 47% of Americans Romney says don’t pay income taxes?
There are 78,000 tax filers with incomes of $211,000 to $533,000 who paid no federal income taxes last year. Even more amazingly, there are 24,000 households with incomes of $533,000 to $2.2 million with zero income tax liability, and 3,000 tax filers with incomes above $2.2 million with the same federal income tax liability as most of those with incomes barely above the poverty level.

Congress people and staff not paying taxes either
The Republican-led House passed legislation last month that raised the consequences for federal civilian workers behind on their taxes, or anyone who wants to work for the government. Supporters say the measure is necessary to hold employees accountable, collect about $1 billion past due and foster confidence among Americans that public servants aren't ditching their tax obligations. Employees of the legislative branch — which includes members of Congress — owe millions, too. In the U.S. Senate, 217 employees owed $2.1 million; 467 workers in the House owed $8.5 million.
IRS has the power to put a lien on salary but some have friends in high places.
Some states will not renew a driver’s license if you owe taxes.

Guilty banker gets out of jail and collects $104 million as he passes GO!
First, the government threw Bradley Birkenfeld in prison for helping a former client at UBS AG hide his wealth from the Internal Revenue Service. Now, as part of the same case, the IRS has awarded the former banker $104 million for helping expose the widespread tax evasion scheme by the Swiss banking behemoth. The IRS collected $5 billion in back taxes and penalties from 4,700 Americans who held secret overseas accounts and $780 from UBS.  
What a business!

John Hancock helps business owners avoid paying taxes
John Hancock sold a tax shelter called the Benistar plan, which was intended to provide benefits funded by life insurance policies. Customers are now suing the insurer and their law firm which provided a letter of plan legality. In 2008, the IRS declared the Benistar plan an "abusive tax shelter" and assessed back taxes and penalties on the customers. Benistar plans claim a business can make unlimited tax deductions for contributions and employees can receive benefits free of tax using the insurance exemption. 

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