Preparing for the Change in Healthcare Coverage

Whether you initially supported or did not support the healthcare reform, changes have been taking place with more to come now that certain aspects of it have been allowed to proceed on track. Now that it is moving ahead, it is important to better understand what it means and start preparing for the changes that will soon be enacted.

Getting Ready for New Health Insurance Requirements

For many companies, this means it is time to start preparing for options that help employees have affordable choices. And, for individuals who need to provide their own health insurance because they are self-employed, it is time to begin thinking about what is possible.

Because it will soon be the law that everyone will have health insurance, including those with pre-existing conditions and others that might have been previously denied coverage, the best preparation you can make as a business or an individual is to start researching healthcare plans and what is possible.

Changing your Healthcare Provider

It may be time to change your health insurance provider, especially if more choices are on their way. Here are some things to think about if you are pondering a new insurance provider:

• With all service providing companies, remember that you are ultimately in charge and that you can really control how things go down.
• Get quotes from the companies that seem to be the best for what your business needs and make sure to get more than one or two.
• Don't be intimidated by companies that say the quote you offered then will change if you decline it or things along those lines. They want your business and when it comes down to you're signing the paperwork or walking out the door, chances are they will accommodate you and your needs.
• Work with a company that serves as a broker and can take care of much of the legwork for you by providing a range of healthcare coverage options and also take care of the negotiation process for you.

First-time Buyers

While it may be intimidating to shop for health insurance with so much to read and try to understand, even first-time buyers should find the new changes comforting as insurance providers will be required to simplify and streamline their coverage explanations.

Until then, you can work with a health insurance broker who can help you understand the differences in healthcare coverage and guide you down the right path for your needs whether these are for your business, your family, or you.

Feel free to contact us with any questions or insurance inquiries. We’re here to help both businesses and individuals understand the healthcare changes and new health insurance requirements.    

Protecting Your Home during Wildfire Season

As we’ve already seen, the wildfire season is already underway in many states, including Colorado, California and here in New Mexico.

Each year, it is the same thing. It gets hot in the summer and many plants have begun to dry up and then the New Mexico wildfires strike. The fields of bushes, shrubbery, and underbrush are like one big giant matchbook, lying in wait for an accident or a careless bystander with a cigarette or someone even using power tools or doing target practice with a gun.

It’s not time to panic; if anything, it just means that the best strategy is to consider the best proactive ways to protect your home during this and future wildfire seasons.

Fire Insurance

One of the first things you can do is contact your homeowner's insurance provider and make sure you are covered in the event of a fire so that, if something terrible does happen, you won't have lost everything in vain. 

If your provider won't offer this service for some reason, you should look into a third party provider or find a new insurance group altogether.

At Linton and Associates, we would be more than happy to help you to get things settled and covered. We understand that, while fire insurance is a great start, the insurance isn't going to bring back photo albums and family heirlooms not to mention that yours or your family's lives could be in danger in the case of a fire.

Other Methods of Protection

If you live in an area that is at risk for a wildfire like here in New Mexico, be conscientious, especially during the dry season. Do what you can to minimize the risk for fire coming too close for comfort. Here are some ideas for proactive fire protection in New Mexico:

•  Be sure to clear brush away from your house and property. If there is a fire, your house will have a better chance of making it through if the property is clear of dry weeds and brush.
• Install non-combustible roof shingles also helps greatly as they are very fire resistant. Newer homes here in New Mexico come with these shingles, but if you have an older home, you may need to do an upgrade.
• Keep your ventilation ducts clear because this can help to prevent the wildfire from spreading to the house as well as any dry vegetation around the house.

Create a Fire Escape Plan

Have an escape plan for family members in case of a fire. This includes an escape route, place to meet, and way to communicate. You may also want to keep irreplaceable things like photo albums in an easy to access spot so you can scoop them up and go at a moment’s notice. 

Most importantly, review this plan with your family as being prepared can help you stay calmer in the event wildfires strike here in New Mexico.

Start-up Advice: Minimizing Risk with Business Insurance Products

Starting your own company can invoke a lot of emotions -- anxieties, excitement, and even fear. It can be a joyous and happy experience, but it can also be very stressful. After all, it's your company and your idea on the line – and sometimes it’s even other people’s money that is hanging in the balance.

The choices you make ultimately decide on whether your ship sinks or sails on. If you do stumble, keep going as you can learn from your mistakes and do better on the next attempt. However, there are also things you can do now to minimize the risk of failure.   

When in control of everything, you are faced with a whole lot of decision making that can mean success or failure. No pressure, right? From the original idea to company formation to hiring and purchasing, there are numerous decisions on a daily basis. Each of these decisions needs careful thought to make sure that you are doing something that will help your business succeed.

The Insurance Umbrella

A key area you can exploit is one that can provide some of the best safety nets should anything ever go wrong – and that’s insurance. Sometimes, small businesses opt to go without insurance like health insurance, liability insurance, or property insurance to save a few pennies.

However, those pennies saved now could actually mean the end of your business in the near future should anything go wrong.  From fleet insurance for your company vehicles to casualty insurance and worker’s compensation, you want to make sure that you have all the potential risks covered. This will ensure business continuity and sustainability throughout anything that could occur.

Beyond just covering any unexpected crises that pop up, it is good to offer a cadre of benefits for the talent you are relying on to help your business thrive. If prospects know you have excellent health insurance and similar benefits, they may be attracted to working with your company.

You are Not Alone

Starting a business can be scary, but you are not alone. You can seek advice on start-ups from many experts out there, including everyone from those that invest in your company to mentors and professional business consultants to insurance brokers who can set up the appropriate amount of insurance coverage for your business needs and budget.  

Achieving Financial Security with Smart Planning and Insurance

While it's never going to be anyone's favorite topic, bad things do happen and at any time anyone can die or be put into some other sort of crisis. Job loss, layoff, injury, debt and even death -- these are all things that can strike suddenly and without warning.

While nothing can fully prepare you for tragedy, there are ways to help secure you and your family's stability in the event of a financial crisis. Below are different things to help you prepare for financial disaster and offer advice to further protect the stability of your lifestyle.

Emergency Fund

Whether you keep a stack of bills in your home safe or have built-up a nice savings, it is important to have some emergency money in case of an unplanned layoff, job loss, injury or other crisis.

Having access to a few months of pay can help with surprise medical bills, mechanic fees, or other expenses that you can cover in case you lose your job. Most financial experts recommend between three and four months of wages should be saves in your emergency fund. It may take you some time to do this but putting aside money each month will begin to build it up faster than you think.

Insurance Coverage

There are many types of insurance, including liability, auto, homeowners, disability, life, fire, flood and earthquake just to name a few. You can even ensure your electronics. As a solution, insurance really can help maintain stability and security in your life even in the face of a major crisis.

For example, if you are injured and suddenly unable to work, then having disability insurance can really save you over the next few months. Should you pass suddenly, life insurance will help your family with all of the expenses that come with a death and help them get by financially when they suddenly may not have the main income.

Making Smart Money Decisions

One of the best things you can do is establish good financial habits, which are the key to managing any crisis that may come up later. Always be sensible in your actions to avoid building up debts or putting your family in a disastrous financial situation. A new car may look nice in the driveway, but if you can't make the payments every month then you are only hurting yourself.

It's not just the big things that can hurt you; little things like credit cards can really hurt you. For example, it is very easy to build up your credit limit over just a few years. While you may have started with a $1,200 limit it can climb to $12,000 before you now it. While you still may be able to make the minimum payments or even a bit more, what happens if you lose your job? 

At Linton and Associates, we urge families to take financial security very seriously to keep them out of debt and maintain stability in case any crisis should ever arise. For more information on our insurance plans and how to keep your family financially stable, please feel free to contact us today.