Baker Insurance Group

Critical Illness – How are you prepared to live?

Theresa — Tue, 19 Mar 2013 17:10:19 +0000

After having a conversation with a colleague this past week – where we dove in to the necessity of critical illness insurance – for most of us, we know this kind of insurance as cancer, accident, heart attack, hospital income, and even disability insurance – we debated how far the market has evolved – and then the poor joke of ”heaven help us – we lived”.

Just how we are surviving/living is the issue.

I deal with many clients who are going on the thought that they have very generous friends and family to fall back on for money and time when they are struck with a critical illness – If you are one of these unprepared individuals, I invite you to have the conversation with your friends/family and let them know what you expect of them. I think you will be surprised by the outcome.

Here is what I have to say: Most of us do not have the financial/time resources to give you. We will be your friend/family to love and emotionally support you – but please treat us with respect and be responsible and allow us this benefit and the opportunity to be the kind of friend/family you will emotionally need. Take care of yourself, first.

Health Insurance for children open enrollment begins in WA State

Theresa — Fri, 15 Mar 2013 16:24:13 +0000

March 15th to April 30th is open enrollment for children in the individual and family health insurance market. During this time you can add children to your health plan, buy them their own health plan, or switch health plans. Now is the time to make your changes. For more info on this, please visit the WA State Insurance Commissioners website www.insurance.wa.gov or give a local agent an opportunity to help you.

How do I choose a health insurance policy?

Theresa — Mon, 11 Mar 2013 16:01:16 +0000

When it comes to Health Insurance, I think we have all known someone who was confused and frustrated and decided to “just pick something” and hope it works out. The world of health insurance lends itself to this, but it doesn’t have to. Here are some basic rules to help you get started when choosing the right health insurance plan:

Make a list of your doctors
Make a list of your prescriptions
Make a list of the services you cannot live without (maternity, Rx, etc)
Does everyone that will be on your health plan need the same services (does one person need Rx, while another does not?) Most of us do not realize that we do not need to insure everyone on the same health plan.
Check the health plan’s doctor network to make sure your doctors are in network/out of network.
Check the health plan’s pharmacy formulary to confirm if your Rx is listed for coverage and what pharmacies or mail order can you use.
Check the health plan’s deductible – keep in mind if it is an individual or family deductible. Will the deductible be higher depending on where your receive the care (in network/out of network).
Check the health plan’s maximium co-insurance – keep in mind if it is an individual or family c0-insurance maximum. Will the co-insurance amount be higher depending on where you receive the care (in network/out of network)
Check the health plan’s co-payments and how many doctor visits are covered before you have to satisfy the deductible.
Discuss with the health plan if you will have a pre-existing wait period applied to any health conditions you have when switching plans and/or health insurance carriers.
Read the health plan limitations and exclusions.

Remember health insurance is not designed to cover everything and this is a basic list to help you get started in the process of choosing a plan. We recommend you call an agent – there are plenty of good ones out there waiting to help you.

Change your kids health insurance during open enrollment time – Happening right now!

Theresa — Sun, 18 Sep 2011 20:18:06 +0000

It’s Open Enrollment Time! In Washington State, beginning on 9/15/11 and ending on 10/31/2011, you can buy or change health insurance for kids under 19 in the private, individual health insurance market.

It’s a big deal.

Right now you have choice for your kids health insurance. The insurance carriers can’t deny them insurance or apply a pre-existing insurance clause to them because of medical history. Basically, there are no health questions asked, they will accept your children for health insurance when you complete an application and meet other requirements such as living in their coverage area, among others.

Why some of my customers are considering changing:

Their reasons for purchasing the plan they currently have, changed.
The current insurance company took an annual rate increase, and they can’t afford to stay on the plan they have.
They are ready to buy a policy for their children.
They want to move their children to their own plan, off of the family plan they have been on.
They have discovered that it is less expensive to move them off of their employer group plan and have them purchase a plan in the individual market.

Whatever the reason, now is the time to do your research and see if a move is beneficial to your family. Talk to a local agent who can help you figure out if you really should change your coverage.

Why do I need Life Insurance?

admin — Thu, 06 Jan 2011 17:47:21 +0000

It is the only insurance you are guaranteed to use. Imagine your spouse/parents/partners/children receiving an envelope when you die. Does the envelope contain the life insurance death benefit that is going to help them get through the entire process of dealing with your death and all of the financial responsibilities you created? Or instead, without life insurance, is the envelope empty? Where do they begin? Life Insurance will provide them with the primary financial tool to begin to try and maintain their lifestyles.

Are the eligibility requirements for group health insurance changing?

admin — Thu, 06 Jan 2011 17:38:15 +0000

Yes! October 1, 2010, in Washington State, one of the biggest criteria to qualify for a group health insurance plan changes from a minimum of two individuals to one. This change is incredibly positive and you have to ask yourself: How often does this happen in the health insurance arena! For an individual business owner, like myself, this is a tremendous option and one that has me very happy. I will now be able to move from an individual and family plan, which for those of us who have had to stay with this option, are relegated to high deductibles and limited coverage. I can now purchase a group policy which will have richer benefits, lower deductible choices and prescription coverage. My premiums will be higher, but we actually get something for the dollars spent.

When should I review my insurance?

admin — Thu, 06 Jan 2011 17:28:56 +0000

Once a year, at a minimum, and June is a great time of year to put it on the calendar. Nobody wants to have an “insurance ouch” at claim time.

Follow this checklist for an easy way to accomplish it:

1. Call your agent for the most current declaration page (shows your coverages and what is covered) and policy and have them email or mail it to you. You should be able to log in to a site and have easy accessibility to this information as well.

2. Ask your agent what policy options you don’t have on each policy.

3. Ask your agent what new systems are in place to make a claim and what are your responsibilities at claim time.

4. Read your declarations and policy and ask questions.

5. Google any topic you have questions on, do your homework, and talk to your agent. Fortunately, in today’s times, it is easier to get the info we need to make our best decisions.

Remember: Your agent can offer you every coverage under the sun, but it is up to you to purchase it. I am a believer that as consumers we want our agents talking to us. I want my agent offering me all the coverages I don’t have and trying to discuss what I do have. My life is constantly changing and I want to always make a conscience decision on what I pay for and not leave it up to the agent to decide what they think is best.