The new Federal Health Care Reform Law requires all employers to notify their employees about the availability of public health insurance exchanges before October 1, 2013.

On Wednesday, May 8, 2013, model notices were released for employers to provide to their employees. By providing your employees with these notices, it satisfies the law’s requirement so it is extremely important you comply with the law and distribute to them.

The notices are slightly different depending on whether you offer a health insurance plan or not. Below are links to the notices.

I offer a health insurance plan for my employees
I don’t offer health insurance for my employees

Both notices explain how the exchanges will operate and the conditions that need to be satisfied for employees to obtain federal premium subsidies to purchase exchange-provided coverage.

Additional information about the health care insurance exchanges can be found on www.healthcare.gov  or through the Department of Health and Human Services.

If you are a business owner or employee who has  any questions about the new health insurance exchanges, please don’t hesitate to contact us today. We’re here to help.

5 Things to Know About Personal Umbrella Liability Insurance

In today’s unpredictable, finger pointing world, people can sue you for just about anything so it is important to protect yourself and your money. Without umbrella coverage you may not have enough insurance to protect your assets. Our environment is volatile and random so don’t be caught in the rain without an umbrella.  Here are five things everyone should know about Personal Umbrella Liability Insurance.

1. Excess coverage. Umbrella liability is designed to be excess insurance on top of another policy.  An underlying policy such as a homeowners or auto insurance policy must be in place first.  Umbrella extends the amount of Liability coverage you have.  Say your homeowner’s liability is for the amount of $300,000, if an injury or claim where to exceed the amount stated on the policy the remainder can be your responsibility.  For example, a claim for $1,000,000 is filed against you, your Homeowners can cover $300,000 but what about the leftover $700,000?  With a personal umbrella the amount exceeding the original policy is covered by the umbrella limits.
2. It’s for everyone! You don’t have to be super rich to have a personal umbrella policy.  Everyone deserves the right to protect what they have worked for their whole lives.  This coverage is affordable; hundreds of A+ rated insurance companies have umbrella programs priced for everyone.  Enjoying life is what it is all about and you work hard for the little extras in life.   If you have an ATV, camper, or boat the opportunity for incident is greater.  Protect yourself and start enjoying life.
3. Broad coverage. You may be faced with a situation that is not covered by your homeowners insurance.  If someone were to sue you for slander for instance, this would fall under personal injury Liability which is not usually included in a homeowner’s policy.  But if you have umbrella liability in place personal injury is part of the broad coverage of the umbrella so you don’t have to go to your pocket to defend the suite.   The umbrella policy is a shield for you and your family filling in gaps of coverage in your home or auto insurance policies.  Filling these gaps prevents leaks of coverage that can put your savings, nest egg and college funds at risk.
4. Prevent Your Ruin. It’s a normal day like any other, except today you are involved in an auto accident, rear ending the car in front of you and injuring the driver.  Today is not your lucky day as the person you hit is a corvette driving executive and he is seriously injured and cannot return to his very important job.  A jury awards him a multi-million dollar settlement that you have to pay.  This can leave you financially ruined.  The courts will go after you savings, your home and may even take part of your salary for years.  This situation is preventable of course with personal umbrella insurance.  Strengthen your insurance policies by adding broader coverage with extended limits.
5. Worldwide Coverage. If you travel often a personal umbrella provides international coverage for personal liability.  Say you are enjoying a pristine golf course in England, the wind is howling and you new clubs are being tested every stroke.  Unfortunately your golf game isn’t the greats and with one wild swing you manage to hit a person in the head with your shot.  Following the incident the victim is unable to work and looking for compensation.  If you are sued for this matter international you are covered as the liability portion of your policy follows you internationally.