2016 Health Insurance Checklist

October 14, 2015

Open Enrollment & Your Key to ‘White Glove’ Service

calendar days

November 1st marks the first day individuals and families can review options & make health insurance selections for 2016.  While 2016 plan details and premiums have not yet been released (we expect to have this information by November 1st), here are four(4) important  “to-do’s” for you to prepare in advance:

  1. Stay informed: Sign up for L & A’s blog– this includes the most current news on insurance changes that may impact you.
  2. Look up your doctor– Provider networks are changing every year.  As more limited networks emerge, it’s important to always verify the available plans and networks in which the doctor participates.
  3. Look up or call your pharmacy to make sure they will continue to accept your insurance plan.
  4. See if you qualify for health insurance tax credits,based on your anticipated 2016 income.

For 2016, many health plans must be replaced by December 15th for a January 1st effective date.  It is important to schedule an appointment with us to review your options and guide you to the right plan for next year.

Next, check our availability for a personal appointment for 2016 Health Insurance Open Enrollment.  December 15 is the deadline but we encourage you NOT to wait.  The end of the Open Enrollment period is very busy so to ensure we are able to provide the individual attention you deserve, L&A Services is encouraging each of you to take this opportunity to schedule your appointment in advance.  Review the November calendar then call or email us directly at (602) 996-6010 or ben@lnaservices.com.


Financial Checklist for New Parents

January 13, 2012

New Baby Financial Checklist

Baby’s coming, so it’s time to get your finances in order.  Here are a few things that will save you time and money for your family’s future:
  1. Health Insurance for baby – If Dad or Mom have health insurance when baby is born, rest assured your baby will be automatically covered for the first 31 days of life under either parent’s plan.  However, it is important to contact your insurance company ASAP to find out what they require…sometimes it’s automatic, but other times you must send in a new enrollment form (such was the case with my family insurance).
  2. Lower health insurance costs – ask your agent or broker to check into individual health insurance costs for dad and baby, especially if it’s your first child.  This can often lead to lower premiums than a group plan.
  3. Savings – During an airplane emergency, we are taught to take the oxygen for adults first, and then assist our children.  The same applies to your savings…make sure you do what you need to do for yourself first – reduce expenses, pay off debt, fund your IRA.  This will establish a solid foundation so you are better equipped to help your child.
  4. Life insurance – no one likes this subject, but who is going to pay for your child’s care if mom or dad die prematurely?  Plan on adding 20 more years of insurance now.   It’s the best gift you can give your family.
  5. Disability insurance – equally scary is the possibility mom or dad lose their ability to earn a living, because of an unexpected accident or illness that keeps them out of work for a period of time.  Ask your agent to review your income replacement plan for anyone working to put food on the family table.

These are the top 5 financial considerations among young parents, from my experience.  If you have questions or need help with any of these areas, our office  is here to assist you.

Getting Ready to Retire Checklist

November 21, 2011

Getting Ready to Retire Checklist

Determine if you are on track for your retirement goals
• Evaluate your expenses, both essential (those things you must have) and discretionary (those things you can do without).
• List all sources of predictable income, including Social Security and pensions.

Consider ways to boost your savings
• Contribute as much as you can to your 401(k) or IRA.
• If you are age 50 or older, take advantage of catch-up contributions.
• Work longer or consider part-time work in your early retirement years.
• Think about delaying Social Security payments.
• Evaluate your anticipated lifestyle and trim some expenses.

Understand key Social Security factors
• It could make up a substantial portion of your guaranteed income; when you start collecting impacts your total benefitt amount.
• Know the four key factors that could affect your payments (see reverse).

Evaluate your portfolio and create a plan
• Consider what your retirement risk tolerance is: conservative or aggressive?
• Consolidating old 401(k)s into an IRA can make it easier to manage your overall financial picture.
• Create a detailed retirement income plan.

Research health care options
• Health care expenses in retirement can be unexpected and higher than planned.
• Consider options such as long-term care insurance and supplemental health care options.
• Understand the Medicare application process, including timelines and premiums, which can be impacted by your age and Social Security.

Protect your retirement plans
• Have an emergency fund you can access for unexpected events or costs during retirement.
• Pay off high-interest debt to reduce your expenses as you enter into retirement.
• Regularly conduct a portfolio review.
• Ensure you have updated your beneficiary information, will, and estate plan.


Material Courtesy of Fidelity