Do You Understand The Insurance Benefits Offered By Employers?

Benefits Offered By Employers

Benefits Offered By EmployersMany employers recognize the hard work their employees do every day. In addition to a pay check, many employers will offer additional benefits to compensate their employees. Whether you are a new employee of the company, or an existing employee that has never enrolled in the benefits, understanding everything an employer has to offer can be difficult. We can help break this all down and make it easy to understand.

Common Benefits Offered By Employers

When it comes to benefits offered by employers, there is no set guideline to use. As a result employers build their own benefits packages and can pick and choose what they want to offer. Some of the most common options include:

  • Medical Insurance
  • Dental Insurance
  • Vision Insurance
  • Disability Insurance
  • Life Insurance
  • Flexible Spending Account (FSA)
  • Health Savings Account (HSA)

Click here to learn more about employee benefits.

Employer-paid vs Voluntary benefits

Depending on the size of the company you work for there may be several packages available. Some may be employer-paid, some may be voluntary and some may be in the middle where you and the employer split the cost.

  • Employer-paid benefits are those that the employer pays 100% of the cost. This typically includes life insurance and disability insurance.
  • Voluntary benefits are those you the employee can choose to elect or not. You will pay 100% of the premium. This typically includes dental and vision insurance
  • Contributory benefits are those that you and the employer both pay for. The employer picks how much they will pay and then you pay the remainder. One example would be medical insurance. The employer may pay 80% of the premium, you pay the remaining 20%

What Coverages Are Included In The Benefits Offered By Employers?

This will vary for each company. They will be able to provide you with a summary of benefits that will show you basic plan information. Deductibles, copay’s, coinsurance and maximum out of pocket is standard on each summary. Employers have HR departments or an insurance agent they work with. They will be able to explain everything to you and help you enroll.

Understanding benefits offered by employers can be overwhelming. Take time to review the information provided to you and don’t be afraid to ask questions. Every individual’s situation is different however employers have specific plans in place to help you.

Have questions? Contact us today, we can help.

 

In Network Doctors, Why They Are Important

In Network Doctors

In network doctorsThe health insurance industry has been one of constant change in the past few years. 2017 brought numerous changes for many policy holders and those looking to purchase insurance. With many insurance carriers looking to lower cost for consumers, they made the decision to change their networks. Many companies shrunk their networks where others completely terminated networks and implemented new ones.

Regardless of the type of change, one fact remains critical for policyholders. Make sure you are using an in network doctor or facility.

What are In Network Doctors?

An in network doctor is one that a plan has contracted with to provide medical care to its members. Depending on the type of plan you have, visiting in network doctors will either provide you with the greatest coverage or be your only way to receive covered services.

A PPO In Network provider is a physician, other professional provider, contracting hospital or contracting other facility provider that is included in a limited panel of providers as designated by your insurance company and for which the greatest benefit will be payable when one of these providers is used.

A HMO Network provider is a provider that is included in a limited panel of providers as designated by your insurance company as a health insuring corporation. Providers in this HMO Network have an agreement with your insurance company about payment for covered services.

The Difference Between a PPO and HMO Health Plan.

Very simply, if you have a PPO Plan, you can chose if you use a provider in the network or one not in the network. You will receive better benefits at a lower cost if you use in network doctors and facilities. However, if you go to an out of network doctor there are still some benefits under your health plan. (Usually a higher deductible, co-insurance and he provider can balance bill you for the amount not paid by your insurance carrier).

If you chose a HMO Plan, you will only have insurance coverage if you visit in network doctors and facilities. If you go to a doctor that is not in the network, you will not have any insurance coverage. Therefor, that means you will be responsible for the full cost of the visit.

How Do I Find Out Who Is In My Network?

There are several ways to find In Network doctors.

  • Call the customer service phone number on the back of your ID Card.
  • Visit your insurance companies website. When you visit the website, make sure you choose the correct network name. It’s not uncommon for insurance companies to have 10+ different networks. it is VERY IMPORTANT you select the correct one. Helpful tip – if you create a login with that company it will generate a list based off your specific network.
  • Call your insurance agent or broker.

Networks change often so it is important to re-check before every appointment. Just because your doctor was in the network in January, does not mean they are still part of it in August.

Individual insurance policies (policies your purchase on your own, not through an employer) have been hardest hit by these network changes. Anthem BC&BS networks have shrunk by almost half and Medical Mutual of Ohio went from a PPO network to a HMO network in 2017. With the new president, there is a good chance insurance plans, networks and prices will continue to change.

Click here to learn more about Individual Health Insurance

Click here to learn more about Group Health Insurance

It can be a full time job keeping up with all the changes. That’s why were here to help. If you need help looking for a plan or understanding your current plan, give us a call today. 

 

Easy Ways To Save For Your Children’s Future

save for your children's future

save for your children's futureSaving early is the key to financial success. Therefor, when you save for your children’s future, you are setting them up for financial success. If you are planning on helping your children with college, trade school, a new house, you should start saving as early as possible.

Did you know? College-bound children’s parents can expect to pay at least half to a third of the cost of their children’s education. That means your current income, savings and loans.

Government aid and scholarships generally only pay for one-third of all college expenses. That leaves many students with large loans after graduation.

So how can you help out and save for your children’s future?

  1. Start saving the day your baby is born and save as much as you can. Compounding interest will also make your savings grow.
  2. Save money on a consistent basis rather than on a random schedule.
  3. Consider setting up an automatic payroll deduction or have your bank automatically move money from your checking account to a college savings account.
  4. Establish a savings goal to measure how well you are saving and modify that goal as your salary increases.
  5. Ask other relatives to contribute to the savings account in lieu of gifts.
  6. Save windfalls such as inheritances, income tax refunds or bonuses. Don’t rush out to spend this fast cash.
  7. Increase the amount you save by five percent each year to keep up with the college tuition inflation rate.
  8. Place the money you once used for expenses that are no longer here into the savings account.
  9. Cut down on normal living expenses and redirect that money to your savings account.
  10. Teach your children about saving by getting them involved in the financial preparation for their education.

Saving early is the key to financial success in the future.

Even modest savings can grow into significant investments by the time your child is ready to head off to school. For instance, putting away $50 a month beginning at your child’s birth would  yield $20,000 by age 17, with a 7% return on your money. Bump that up to $200 a month, and you would yield almost $80,000 by age 17.

Get your own finances in order while you save for your children’s future. Make sure to pay off your credit cards, maintain a savings account for unexpected expenses as well as putting some thing away for retirement.

One last way to save for your children’s future is to do an insurance review with your agent. They will review your coverage to make sure you are covered correctly as well as receiving all available discounts. Something as simple as putting your homeowners insurance and auto insurance with the same company can earn you an extra discount.

Want to learn more about Homeowners Insurance – Click Here. Auto Insurance – Click Here.

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Life Insurance…We All Need It, But Don’t Want To Talk About It

Life Insurance

Life InsuranceNobody wants to think about the death of a loved one or leaving a loved one behind. Unfortunately, it’s a part of life and something everyone will have to deal with at some point. So that leaves you with two options, don’t think about it and hope it never happens or have the discussion with your family and determine what you would need financially in the event of your or a loved ones death.

There are many options ranging from bank savings accounts to investments but a common option is life insurance. Life insurance is a policy that would pay a set amount at the time of the policy holder’s death. There are several different types of life insurance with different options, but all have one identical benefit, a death benefit. So how much do you need…well it’s different for everyone. MSN Money has a nice calculator that can help you determine how much you need or your insurance agent can sit down with you and help you determine the amount.

Click here for the MSN calculator

After you determine an amount, you can choose what kind. Term or Permanent, fixed or variable, there are several different options. Once again, the best way to determine what is the best form for you is to talk with your insurance agent. They are experts on this and can help you find the right product.

Click here to learn more about the types of life insurance.

And last but not least is getting the quote. Once you have decided how much you need and what kind, it’s time to get the rates. At Rinehart Insurance we use several life carriers to ensure we get the best rate possible for our clients. Call us today so we can help you protect your most important part of your life, your family!

How To Make Sure Your Nonprofit Insurance Is Sufficient

Nonprofit Insurance

Nonprofit Insurance

Nonprofit organizations provide essential social services that benefit communities and their residents. They usually have a specific agenda on what they do and how they help. These unique organizations also require a unique insurance plan. Do you run a nonprofit or are you on the board of one of these organizations. Are you sure your nonprofit insurance is sufficient and that it covers all aspects of your organization?

Just like with any business you want to have property insurance to protect your build(ings) from physical damage. The other half to your typical business insurance is liability coverage. Certain businesses, such as nonprofit organizations, have some risks that other businesses may not have.

Shelters

Allowing others to inhabit your property can expose you to several liabilities. In addition to fire codes, health codes and tax codes, you may have additional requirements. These requirements could include:

  • Structurally sound buildings
  • Sanitary conditions
  • Clean water supply
  • Adequate air quality
  • Sufficient space and security for each occupant
  • Lack of lead-based paint hazards
  • A certain number of smoke detectors

If you have a visitor to your shelter suffers harm due to unsafe or unhealthy conditions, that could result in a law suit. This is where having a uniquely tailored nonprofit insurance program will be there to protect you.

Click here for Business Insurance Information.

Board of Directors

A board of directors is usually assigned to elect officers, adopt policies and make major financial decisions. Although the members are usually volunteer, they carry risk along with the position. Even when acting in good faith, board members are subject to personal liability. This could affect their personal financial status.

One way to help assess the risk involved with holding a board position is to develop a volunteer risk management committee. This committee will identify all risks and pose solutions to minimize potential harm. Your nonprofit should educate it’s bard members on their legal duties, fiduciary duties and decision-making roles. They should also ensure the following:

  • The organization is working within its stated mission
  • Funds are spent according to the mission and spending decisions are known to donors
  • The organization does not accept donations with conditions
  • Individuals with personal agendas are not allowed to sit on the board
  • Board members are not using professional contacts in dealings with the nonprofits

Once the risks are assessed the Board of Directors should also understand the following duties.

  1. Duty of Care: The individual should act in the way that a reasonable person would in a similar position and under similar circumstances. Acting under good faith is an essential part of the functions of the board.
  2. Duty of Loyalty: The individual should place the organization’s financial interests as the primary responsibility. As a board member, one should not use their position for persona gain, financially or otherwise. In addition, individual should remain honest about business ventures that pose a conflict of interest when acting as a representative of the organization.
  3. Duty of Obedience: The individual should try to further the mission of the nonprofit by supporting board decisions and implementing policies as they are outlined.

Nonprofit Insurance Options

In summary, as a nonprofit you have a very specific set of needs. Your run of the mill insurance policy may not be the best fit for your unique needs.

Nonprofits should consider the following types of policies:

  • Commercial General Liability: Protects volunteers and employees from bodily injury and personal injury claims.
  • Workers Compensation: Some states allow organizations to cover volunteers in the event that they are injured while on the job.
  • Automobile Liability: Coverage is needed for volunteers operating vehicles while working on behalf of the organization.
  • Directors’ and Officers’ Liability: Protects directors and officers against employees, clients and community members serviced by the organization. Specifically, D&O provides coverage for discrimination, harassment and wrongful termination claims. Provisions within the Americans with Disabilities Act of 1990, the Family and Medical Leave Act of 1993 and the Civil Rights Act of 1991 have led to claims against nonprofit organizations and their respective boards.
  • Personal Liability

As a trusted adviser for several local nonprofit organizations, we are here to help. Call us today to start working on the nonprofit insurance plan for organization. 

What You Need To Know About Boat Insurance When You Buy A Boat

Boat Insurance

Boat InsuranceIf your new boat is a canoe or an un-motorized boat, there’s a chance that it’s covered under the personal property portion of your Homeowners Insurance policy. However if it is anything larger, you need a separate boat insurance policy. A Bout Insurance policy is there to ensure you and your boat are protected. After all, I’m sure you purchased your boat with long term plans in mind.

Does My Homeowners Insurance Cover My Boat? 

Theft to watercraft, including furnishings, equipment and outboard motors, is typically excluded if the theft occurs outside your residential premises. To cover your boat and its accessories, you need a separate boat insurance policy.

What is Boat Insurance? 

A typical boat insurance policy will protect your boat, motor, equipment and passengers. Coverages will usually include:

  • Theft, loss or damage to the boat and attached equipment
  • Bodily injury coverage, if someone else is injured
  • Damage caused to someone else’s property by your boat or watercraft
  • Liability coverage for your passengers, which would include family and guests
  • Medical payment coverage for injuries to the occupants of the boat

Physical Damage Coverage

Physical damage coverage insures your boat, motor, boat trailer, boating equipment and other personal property against accidental loss or damages. 

Liability Coverage

A Boat Insurance policy will include two principal liability coverages.

  •  Personal liability coverage provides protection for legal liability. It pays up to the limit of your policy, the legal obligations imposed upon you due to an accident resulting from the ownership, maintenance or use of your watercraft, including bodily injury, property damage and legal defense. 
  • Medical payments coverage pays medical expenses up to the limits in the policy, including the insured’s boating-related medical expenses from an accident arising out of the ownership, maintenance and use of the boat. Expenses include hospital, medical and ambulance. 

Additional Coverage Options

Along with the basics some extra coverage to consider include:

  • Reasonable Repairs. Covers repairs done to protect covered property from further damage
  • Emergency Services. Pays for reasonalbe costs that you incur 4resulting from specified emergency service to your boat, motor or boat trailer. 
  • Wreck Removal. Pays the reasonable expenses you incur for any attempted or actual raising, removal or destruction for the wreck of your watercraft when damage is caused by an insured loss and remove or destruction required by law. 
  • Umbrella Liability. Provides additional boat insurance coverage across the board for home, auto and watercraft. 

Whether your boat is big or small, it’s still an investment. As a result, we want to make sure your are protected and familiar with your coverage. Call us at 419-522-9892 to review your policy or get a quote today.

How To Promote Safe Teen Driving

With prom and graduation season kicking off, now is the perfect time to remind your children and loved ones about safe teen driving. They have a 3 ton (or heavier) hunk of steel going 55 mph down the road. Make sure they think of their safety, and the safety of those around, them every time they get in the car. Below are a few talking points to go over with them.

Safe Teen Driving Tips

  • Safe teen drivingAlways use your seat belt, even if you’re just going for a short drive down the block – it’s the law!
  • Never drive under the influence of drugs or alcohol. Remember that prescription medications can impact your driving too.
  • Avoid driving at night if you don’t have much experience behind the wheel.
  • Watch the forecast to avoid any inclement weather.
  • Always try to stay at least two seconds behind the vehicle in front of you. This can help give you more reaction time in the event of an emergency. Never use your cellphone in your car.
  • Never talk or text while driving, it can wait.
  • If you ever feel uncomfortable or unsafe on the road, pull over somewhere safe.
  • Obey the speed limit
  • Never reach for something in the car while driving, a lot can happen in the few seconds your eyes are away from the road.

One more thing, many auto insurance companies also offer discount for good grades. It’s as simple as providing your insurance agent with a copy of your kid’s grade card. Stop by our office and review your auto insurance policy with your agent today to make sure you are receiving all available discounts. (Click here for more information about auto insurance)

The best way to ensure child is practicing safe driving is to practice safe driving yourself and to talk to them.

Remember Stop the Texts, Stop the Wrecks!

What You Need to Know About the Family and Medical Leave Act

Family and Medical Leave Act

The Family and Medical Leave Act (FMLA) is there to help when you or a loved one experiences a serous health condition that requires you to take time off from work. Whether you are unable to work because of your own serious health condition, or because you need to care for your parent, spouse, or a child with a serious health condition. The stress from worrying about keeping your job may add to an already difficult situation. The Family and Medical Leave Act provides unpaid, job-protection. FMLA leave may be taken all at once, or may be taken intermittently as the medical condition requires.

 

Who Can Use the FMLA Leave?

In order to take FMLA leave, you must work for a covered employer. Generally, this includes private employers with at least 50 employees. Private employers with fewer than 50 employees are not covered by the FMLA. But they may be covered by state family and medical leave laws. If you work bfora covered employer you need to meet some additional criteria to be eligible to take FMLA leave.

First, you must have worked for your employer for at least 12 months. Second, you must have worked for the employer for at least 1250 hours in the 12 months before you take leave. This works out to an average of about 25 hours per week over the course of a year. Finally, you must work at a location where the employer has at least 50 employees within 75 miles of your worksite. Even if your employer has more than 50 employees, if they are spread out and there are not 50 employees within 75 miles of where you work, you will not be eligible to take FMLA leave.

When Can I Use FMLA Leave?

If you work for an employer that is covered by FMLA, and you are an eligible employee. You can take up to 12 weeks of FMLA leave in any 12-month period for a variety of reasons. The most common serious health conditions that qualify for FMLA leave are:

  1. conditions requiring an overnight stay in a hospital or other medical care facility;
  2. conditions that incapacitate you or your family member (for example, unable to work or attend school) for more than three consecutive days and require ongoing medical treatment (either multiple appointments with a health care provider, or a single appointment and follow-up care such as prescription medication);
  3. chronic conditions that cause occasional periods where you or your family members are incapacitated and require treatment by a health care provider at least twice a year; and
  4. pregnancy (including prenatal medical appointments, incapacity due to morning sickness, and medically required bed rest).

The FMLA also provides certain military family leave entitlements. You may take FMLA leave for specified reasons related to certain military deployments. Additionally, you may take up to 26 weeks of FMLA leave in a single 12-month period to care for a covered service member with a serious injury or illness. There is also coverage under the FMLA for expanding your family. You may take FMLA leave for the birth of a child and to bond with the newborn child, or for the placement of a child for adoption or foster care and to bond with that child. Men and women have the same right to take FMLA leave to bond with their child. But, it must be taken with one year of the child’s birth or placement and must be taken in a continuous block. Unless, the employer agrees to allow intermittent leave.

Why Should I use FMLA?

When you take FMLA leave, your employer must continue your health insurance as if you were not on leave. You may be required to continue to make any normal employee premium contributions.

Click here to learn more about health insurance. This may also be a good time to review your health benefits. You will need to understand how everything will be covered in your unique circumstances.

As long as you are able to return to work before your exhaust your FMLA leave, you must be returned to the same job or one nearly identical to it. This job protection is intended to reduce the stress that you may otherwise feel if forced to choose between work and family during a serious medical situation. Time off under the FMLA may not be held against you in employment actions such as hiring, promotions or discipline.

FMLA leave is unpaid leave. However, if you have sick time, vacation time, personal time, etc. available, you may use that leave time, along with your FMLA leave so you continue to get paid.

How Do I Request FMLA Leave?

To take FMLA, you must provide your employer with appropriate notice and information. Typically you need to notify them at least 30 days in advance if possible. In the case of an emergency, notify then as soon as you are able to. While you are not required to tell your employer the diagnosis, you will need to provide them with enough information so it can be determined that it is a covered situation for FMLA.

When you or a loved one experiences a serious health condition that requires you to take time off work, the stress from worrying about keeping your job may add to an already difficult situation. The Family and Medical Leave Act (FMLA) is there to help. Make sure to do your research and talk to your employer as soon as possible. 

Please share this article with others so they are aware of the benefits of FMLA leave. 

 

How To Get Your Workplace Wellness Program Started

workplace wellness program

workplace wellness programImplementing a workplace wellness program is a great benefit not only to the employees, but to the managers and business owners as well. A workplace wellness program can help control health insurance costs, reduce Workers’ Compensation and disability costs, increase employee productivity and fewer missed days and higher morale and improved recruiting. But, before we get into that, lets start with some basics.

What is Workplace Wellness?

Workplace wellness refers to the education and activities that a work site may sponsor in order to promote healthy lifestyles for their employees and their families. Examples of wellness initiatives include health education classes, subsidized use of fitness facilities and internal policies or programs that promote health behavior.

The Benefit.

Your company does not need to be a large corporation in order to benefit from a workplace wellness program. In fact, targeting wellness is important for smaller companies because a successful workplace wellness program can reap the following benefits:

  • Improve employee morale and increase productivity.
  • Reduce overall health care costs.
  • Improve employee well-being and reduce absenteeism.
  • Help retain and attract employees.

Where Do I Start?

Before you start picking out activities and prizes, it’s important to lay some groundwork. Gain support from all levels of management and encourage them to participate. Make sure they are aware of and understand the program’s goals and benefits. After that you will want to assemble a workgroup or committee responsible for promoting the workplace wellness program, planning activities and conducting evaluations. Make sure this group has a mixture of various departments. This group will also need a coordinator to manage and oversee the program. They will be in charge of making sure there are regular meetings, analyzing progress and making sure this program stays on budget.

What If There’s Not Much Room In The Budget?

Many smaller businesses may not be able to have a large budget set aside for wellness, and that’s ok. Even if you have a very small budget, you can still have a successful workplace wellness program. A few low-cost wellness ideas include:

  • Ask a local hospital, nonprofit or other health care organization to provide presentations to your employees on the importance of a healthy lifestyle.
  • Ask your insurance agent if your health insurance carrier offers free health risk assessments.
  • Make your workplace smoke-free.
  • Offer on-site flu shots for free or at a reduced cost.
  • Provide heather vending machine choices.
  • Encourage employees to go outside during lunch or during their breaks for a quick run or walk. Encourage them to take the stairs instead of the elevator whenever possible.
  • Provide educational materials on the benefits of eating well, exercising, not smoking and other healthy lifestyle changes.

By developing a workplace wellness program, your company can lower health care costs, increase productivity and boost employee morale. All of which can contribute to protecting the company’s bottom line and keeping employees happy.

Click here to learn more about health insurance benefits.

We would like to share this free guide with you as a thank you for visiting our website. Simple complete the info below to download your copy of : An Employer’s Guide to Promoting Wellness in the Workplace


 

Antique and Classic Car Insurance; What Makes It Different?

antique and classic car insurance

Antique and classic cars are visibly different than the cars we drive today. You use them differently than your day to day car, so why treat them the same when it comes to insuring them? Antique and classic car insurance is specifically designed with your vehicle in mind.

antique and classic car insurance

The Basics

When insuring your antique or classic car, consider how you will be using the vehicle.

  • Will you only drive the vehicle to car shows or in a few parades? If so, your policy should be limited to those circumstances.
  • Are you going to use your antique vehicle to go to the grocery store, hit the beach or visit a relative? Then your policy should reflect this kind of use.

A typical classic car insurance policy includes the following:

  • Agreed value coverage: Pays for the car’s full-insured value with no depreciation in the event of a total loss, less your deductible.
  • Inflation guard: To compensate for inflation and appreciation, the policy increases the vehicle’s value quarterly.
  • Spare parts coverage
  • Flexible usage: Limits on mileage ranging from 2,500 o 5,000 miles annually. Not limited to parades.

Additional Coverage Options

You can also purchase the following additional coverage’s for you antique and classic car insurance:

  • Emergency towing in case of breakdown
  • Roadside assistance
  • Emergency lockout
  • Emergency travel expenses in case your vehicle breaks down while away from hoe
  • Theft reward
  • Car show expenses: This policy will pay for expenses associated with missing a car show due to a breakdown
  • Personal effects: This policy will reimburse you for items that are vandalized or stolen when reported to police

Your Needs Are Unique

Since antique and classic cars are all so different, your insurance coverage will be specific to your vehicle. There are many considerations that you and your agent will discuss while creating a policy to suit your classic car. Contact us to day to build your personalized antique and classic car insurance policy.

Click here to learn more about auto insurance.

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