Tags: Insurance Basics

How A Self-Funded Health Plan Can Work for You

How A Self-Funded Health Plan Can Work for You

Self-funded health plans are becoming an increasingly popular way to provide health benefits to your employees. Self-funded health plans are an alternative to working with a traditional health insurance provider for companies that want to be able to self-manage their employees care. Most often, rather than hiring additional staff to manage the day-to-day workings of the plan, companies will contract with a plan administrator, who will actually work with employees and providers to provide care and make sure claims are evaluated and paid properly and timely. While a self-funded health... Read More

8 Unusual Insurance Policies for the Really Unexpected

8 Unusual Insurance Policies for the Really Unexpected

You’ve insured your home, your car, your business, and probably even your life. But are you really covered for those unexpected instances in life? We’ve all seen the odd insurance claims, thanks to a couple of recent advertising campaigns by some large insurance companies. But those are all things covered under ordinary insurance policies, like homeowner’s insurance or automobile insurance. What are you do doing about the really unexpected events in your life? Lloyds of London, which by the way is not actually an insurance company,  has long been known... Read More

What You Need to Know About the Two Types of Travel Insurance

What You Need to Know About the Two Types of Travel Insurance

The subject of travel insurance often comes up when planning an international trip. Many travel sites will offer users the opportunity to purchase travel insurance as part of their trip planning.  But many of them don’t distinguish between the two types of travel insurance, leaving travelers potentially unprotected. It’s important to know what the two types of travel insurance are, how they differ, and why you might need each one. Trip Cancellation or Interruption Insurance This is the travel insurance most people are thinking of when travel insurance comes to... Read More

Business Owner’s Policy–What Every Small Business Owner Needs to Know About Insurance

Business Owner's Policy--What Every Small Business Owner Needs to Know About Insurance

One of the critical needs for every business owner is choosing the right business insurance. Too much insurance means money spent that could have been better spent elsewhere. Too little insurance, or the wrong insurance coverage, can mean leaving your business unprotected and open to risk. Choosing appropriate insurance coverage is key to ensuring that the business remains lucrative, especially if any of those risks become reality. A business owners policy (BOP) takes some of the guesswork out of choosing insurance and can make it easier to safeguard your business.... Read More

Workers’ Compensation in Colorado: What You Need to Know

Workers' Compensation in Colorado What You Need to Know

Workers’ Compensation insurance is an insurance system that provides medical benefits and monetary compensation to assist employees who become injured or ill as a result of their jobs. The Workers’ Compensation Act of Colorado (WCAC) defines employer responsibilities for the state’s workers’ compensation program. Compliance with this act is monitored by the Division of Workers’ Compensation (DWC), part of the Colorado Department of Labor and Employment. One of the purposes of the workers’ compensation system is to reduce the risk of litigation when work-related injuries and illnesses result in employee... Read More

Why You Need Cyber Liability Insurance

Why You Need Cyber Liability Insurance

One of the biggest stories of the 2013 holiday shopping season had nothing to do with the hottest toys or the increased reliance on online shopping: Hackers infiltrated Target’s point-of-sale system in December and gained access to the credit and debit card information of 40 million customers and the personal information of 70 million more. Fortunately, the Minnesota-based chain had over $100 million of cyber liability insurance, according to sources.   As technology becomes increasingly important for successful business operations, the value of a strong cyber liability insurance policy will... Read More

What You Need to Know About the ABCD’s of Medicare Benefits

What You Need to Know About the ABCD's of Medicare

Medicare is the government medical program for seniors. Medicare was instituted in 1965 to ensure that older Americans would have access to the health they needed in their retirement years. You will become eligible for Medicare at 65 and may enroll for Medicare Benefits three months prior to the month of your 65th birthday, during the month of your 65th birthday, and three months after your 65th birthday. Medicare has four parts: A, B, C, D Part A is given to you by the government and covers 80% of your... Read More

Protect Your Business with Employment Practices Liability Insurance

Protect Your Business with Employment Practices Liability Insurance

According to a recent study, more than half of all claims filed for employment-related liabilities are against employers with fewer than 50 employees. Alarmingly, the study also reveals that not even 2 percent of small businesses have employment practices liability insurance (EPLI) coverage. Employment Claims Can Be Costly Employment-related claims can be extremely costly, especially in cases that drag on for years. With a slow economy and increasing adoption of worker-friendly laws, these cases are on the rise—in fact, discrimination claims have increased significantly in the last 20 years. According... Read More

What Happens If I Miss Open Enrollment?

What Happens If I Miss Open Enrollment

It’s open enrollment time for health insurance and other employee benefits.Open enrollment is the time when you can enroll for the first time in your employer’s health insurance plan, change insurance coverages, and add or remove dependents. This is your opportunity to take advantage of important benefits, such as health, vision, dental and life insurance, a health savings account (HSA), and a retirement plan. If you miss your employer’s open enrollment deadline you could lose coverage for you and your loved ones and  be unable to make changes or enroll... Read More

How to Prepare for Your Cyber Liability Insurance Policy

How to Prepare for Your Cyber Liability Insurance Policy

Do you have cyber liability insurance for your business? If you use computers and mobile devices in your business, especially if you store critical company information or personal identifying information or financial information about clients and employees, you need cyber liability coverage. Every insurance policy starts with an application, and cyber liability insurance is no different. While the underwriting process in long-established insurance lines is streamlined, this is not the case for cyber liability insurance. Currently, application forms for cyber insurance are not standard and can be complex—often consisting of... Read More