Category Archives: Uncategorized

Are Gen Xers Planning for Retirement the Right Way?

Some are planning wisely, but others are beset by mistakes.

Generation X has become the new “sandwich” generation. Many Americans born during the years 1965-80 are finding themselves caring for aging parents and growing kids at once, with little time to devote to their personal finances or their retirement planning.

Broadly speaking, that time shortage has hindered their retirement saving and planning efforts. Some members of Gen X are on track to reach their retirement money goals; others are making mistakes that may greatly undermine their progress. What kind of mistakes, specifically?

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Did You Hear What Happened With Social Security?

Congress eliminated two popular strategies used to get greater retirement benefits.

If you want to claim Social Security benefits soon, keep a date & a number in mind. The date is April 30, 2016. The number is 62.

Recent changes to the Social Security benefit rules have made that date and that number very important, especially for those about to retire.

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How long will the market be down?

Here’s a great chart that shows the history of the Bull and Bear markets since 1926. Bull and Bear Markets Chart

image of chart for the bull and bear markets for the last 26 years

 

 

CIGNA and Westchester Hospital Systems part ways

Westchester Medical Center Health Network located in New York – consisting of the following hospitals:

  • Westchester County Medical Center including Maria Fareri Children’s Hospital, Westchester, New York
  • Midhudson Regional Hospital (formerly St. Francis), Poughkeepsie, New York
  • Bon Secours Community Hospital, Port Jervis, New York
  • Good Samaritan Hospital, Suffern, New York
  • St. Anthony Community Hospital, Warwick, New York
  • 402 HCPs with exclusive admitting privileges at Westchester Medical Center Health Network

The potential termination would impact all customers in Cigna HealthCare Network, Network Open Access, POS, POS Open Access, OAP, PPO and Great West products.

 

Important Changes in South Carolina Individual Medical Plans for 2016

RENEWING:   If you purchased your coverage through the exchange (healthcare.gov), if you go online to renew, you must enter my National Producer Number (NPN) 1982826 in under the section where you say you are getting help.  If you do not, I am no longer your agent.

TAX RETURNS:  If you did not file your 2014 tax return you will not be eligible for a subsidy for next year.

CARRIER CHANGES:  obviously, Consumers Choice is no longer an option next year (along with 8 other failed Co-ops around the country more coming…).  Here are some of the other things to be aware of as we choose plans this year:

United HealthCare- While they are On-Exchange in some areas, they are not in the Low Country.  Therefore no subsidy is available.   MUSC is available Off-Exchange.

Blue Cross Blue Shield– NO MUSC in the network.

Also they have added Avalon to their Laboratory list, along with Labcorp.  Also the Telehealth program (access a provider online 24/7/365) is available to members for your MD copay, or $60.

They also have added a “skinny” dental plan to their individual plans.

PPO-B Network (on exchange) has Blue Card Network around the country, using local “skinny” networks.  The EPO does not.

All plans now have an embedded deductible, meaning if one person meets their individual deductible they will begin getting reimbursed.

Blue Choice- NO MUSC  in the network.  Also they have added

Avalon to their Laboratory list, along with Labcorp.  Also the Telehealth program (access a provider on line 24/7/365) is available to members for yourMD copay, or $60.  DoctorsCare Urgent care services are available at your PCP MD Copay.

They grew exponentially in the last year and have doubled their CSR team size.

All plans now have an embedded deductible, meaning if one person meets their individual deductible they will begin getting reimbursed.

Aetna/Coventry- MUSC/Roper is available on Tier 1 only.  They have

changed almost all the plans for this year, and have fewer options.

DATES AND DEADLINES

November 1 – Rates released

November 8 – We expect to have all renewals out to all clients, along with options with both your current carrier, and other companies.

November 20 – Target for having all renewal decisions made

December 15 – Deadline for January 1 coverage

February 15 – Deadline for Open enrollment period

Enrollment Services

If you need to be re/enrolled on healthcare.gov, I may do it personally, or I may have HealthReach contact you and handle the enrollment.

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Reeve Conover is a Registered Representative. Securities offered through Cambridge Investment Research, Inc., a Broker/dealer member FINRA/SPIC. Cambridge and Conover Consulting are not affiliated. Licensed in SC, NC, NY, CT, NJ, and CA.
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