Frequently Asked Questions


Do I need long-term care insurance?
Long-term care insurance becomes more important every single day as the cost of providing health care rises. Families are going bankrupt paying the long-term care expense for elder loved-ones that can no longer make it on their own. 


When can I change my drug plan?

You are allowed to make changes on your prescription drug plan between October 15 and December 7.  These changes will take affect on January 1 of the next year. 


If I have pre-existing condition can I buy insurance under the ACA?

YES.  There are no longer any health questions to answer in order to qualify for health insurance, and the insurance company can not rate your premiums because of a condition.


If I am on Medicare do I need to worry about the ACA?

NO.  Medicare beneficiaries are not allowed to purchase an ACA policy, so you do not have to worry about the changes happening with the ACA.  The ACA in no way changes any of your Medicare benefits.


Do I really have to buy health insurance?

The Affordable Care Act's "individual mandate" requires all Americans, with a few exceptions, to have health insurance that typically offers "minimum essential coverage." Going without insurance could bring a tax penalty. The penalty will show up as an additional tax or a reduction in your federal tax refund.


If I have an HMO can I see doctors outside of my network?

NO and Yes.  Yes, you can see doctors outside of the HMO network. No, the HMO will not pay for those doctors.  If you choose to see a doctors outside of your HMO network, you will be responsible for all the costs.


What is a Required Minium Distribution (RMD)?
A Required Minium Distribution is the amount that you must withdraw from an IRA or a 401K at the age of 70 1/2.


Do I need to buy life insurance?

If someone depends on you financially, you probably need life insurance. If you're a breadwinner, life insurance can provide critical financial support to your loved ones if you die prematurely. Permanent life insurance can also help you establish a fund you can access for planned life events like college or retirement, or for emergencies and opportunities. Later in life, it can help you transfer your wealth to the next generation.


Is an annuity right for everyone?

An annuity can be a helpful planning tool for some, but it isn't for everyone. For example, if the only funds you have available are set aside for short-term goals, you shouldn't use them to buy an annuity.


Do I need an estate planner?

You do if you want to insure that what you worked long and hard for goes where you want it to go — quickly and cost-effectively. Good estate planning starts with a good plan.


"Securing Your Financial Future"