U.S. Companies that Offers Pet Insurance as Benefits

U.S. Companies that Offers Pet Insurance as Benefits

Benefit insurance Pet Insurance

Some U.S. Companies now offer pet insurance as a benefit to their employees. Fortune 500 companies that offer pet insurance as a benefit are Hewlett-Packard (HPQ), Amazon (AMZN), Procter & Gamble (PG) and Ford Motor (F). Others companies are Chipotle Mexican Grill (CMG) and Staples (SPLS).

Chipotle began offering the benefit in 2002. Covering one pet costs $10 to $57 a month, depending on coverage plans and deductible. But only about 100 of the eatery chain's 3,000 eligible employees get the insurance because its mostly younger employees have other financial priorities.

Fed may send mortgage rates higher

Fed may send mortgage rates higher

home Housing housing market mortgage

Experts in housing markets are closlyh monitoring the Federal Reserve as they nervously await word on whether the agency will start pulling back on its controversial stimulus program, known as quantitative easing according to a report on CCN.

The Fed has been buying $85 billion in mortgage-backed securities and Treasury bonds a month to help support the economy since September last year. The purchases have been credited for the historically low mortgage rates seen this year, which ultimately helped stimulate home sales and boost prices.

Doug Duncan, chief economist for Fannie Mae said that the Fed is expected to announce that it will scale back on its bond-buying program which is expected to cause rates to slowly rise.

The mortgage market has already factored in a modest cutback in the Fed's purchases. Mortgage rates have risen 1.2 percentage points since May when Fed chairman Ben Bernanke mentioned the possibility of reducing the agency's bond-buying program. In June, he noted that the tapering could begin as early as September, if the economic recovery continued on course.

However, even if the Fed started cutting back on its bond purchases this month, many don't expect the cuts to be sizable. "The recovery has been weaker the past couple of months than what the Fed had been talking about," said Duncan. "It would be a surprise if they act aggressively."

Source CNN Money

Important terms for Consumers on Obamacare

Important terms for Consumers on Obamacare

care health health care Obamacare

With the major health care overhaul by President Barack Obama's Obamacare new laws will have its own jargon. Here are terms consumers need to get familiar with as prepared by the Associated Press:

Affordable Care Act — The most common formal name for the health care law. Its full title is the Patient Protection and Affordable Care Act. Opponents still deride the law as "Obamacare," but Obama himself has embraced that term, saying it shows he cares.

Employer mandate — A federal requirement that companies with 50 or more workers pay a penalty to the government if one of their workers obtains taxpayer subsidized coverage through the law. Delayed one year to Jan. 1, 2015. Intended to keep companies from "dumping" employees into public coverage.

Individual mandate — A federal requirement that virtually everyone in the United States has health insurance, either through an employer, a government program or by buying his own plan. Effective Jan. 1, 2014. Exemptions for financial hardship and religious objections. Does not apply to immigrants living in the U.S. illegally. People who ignore the mandate will face fines from Internal Revenue Service.

Essential health benefits — Basic health benefits that most health insurance plans will have to cover starting in 2014. They include office visits, emergency services, hospitalization, rehab care, mental health and substance abuse treatment, prescriptions, lab tests, prevention, maternal and newborn care, and pediatric care.

Marketplaces — Online health insurance markets in each state where consumers can get private health insurance, subsidized by the government. They used to be called "exchanges," but the feds decided that was too confusing and started calling them "marketplaces." Still, some states stuck with the original name. Open enrollment starts Oct. 1, and the coverage takes effect Jan. 1, 2014. Fifteen states and Washington, D.C., are running their own marketplaces, according to a tally by The Associated Press. The Obama administration is taking the lead in 35 states, in some cases partnering with the state government. All the marketplaces can be accessed online through healthcare.gov. Small businesses will have their own marketplaces.

Medicaid expansion — The health care law also expands the federal-state safety-net program to cover more low-income people. Medicaid is expected to account for about half the 25 million uninsured people who, the Congressional Budget Office estimates, eventually will gain coverage through the law. The federal government will pay the full cost of the new coverage from 2014-2016, then phase down to 90 percent. Twenty-four states plus Washington, D.C., have accepted the expansion, according to AP's count. Eight states are still considering it. And 18 have rejected it, including Texas and Florida, which have many uninsured residents. Many adults below the poverty level will remain uninsured in the refusing states. A state can change its decision at any time, but the full federal payment for the expansion is only available through 2016.

Metal levels —The four levels of coverage available through exchange plans, called bronze, silver, gold, and platinum. Bronze plans feature the lowest monthly premiums, but cover only 60 percent of average costs. Platinum plans have higher premiums and cover 90 percent of expected costs.

Pre-existing condition — An ongoing or past health problem. Currently insurers can use pre-existing conditions to deny or restrict coverage, or charge more. Those practices will be barred by federal law starting Jan. 1, 2014, and insurers will have to accept all applicants.

Tax credits — Government health insurance subsidies for individuals will come in the form of tax credits. The money will be paid directly to the consumer's health plan, to help cover premiums. The subsidies are on a sliding scale based on income. Each year, people will have to "true up" with the IRS to make sure they got the right amount. People who receive too generous a tax credit may owe money back to the government.

Tax penalty — The fine levied on individuals who disregard the individual insurance mandate. It starts small and gets bigger in subsequent years. In 2014 it's $95 or 1 percent of taxable income. By 2016, it's $695 or 2.5 percent of taxable income, whichever is greater. Thereafter it's adjusted for inflation.

Unemployment Insurance

Unemployment Insurance

insurance Unemployment Insurance

Unemployment Insurance also known as Unemployment benefits, unemployment compensation, or the dole are social welfare payments made by the state or other authorized bodies to unemployed people. Benefits may be based on a compulsory para-governmental insurance system. Depending on the jurisdiction and the status of the person, those sums may be small, covering only basic needs, or may compensate the lost time proportionally to the previous earned salary.

Unemployment benefits are generally given only to those registering as unemployed, and often on conditions ensuring that they seek work and do not currently have a job.

In some countries, a significant proportion of unemployment benefits are distributed by trade/labour unions, an arrangement known as the Ghent system.

The idea of unemployment insurance in the United States originated in Wisconsin in 1932. There are about 50 state unemployment insurance programs plus one each in the District of Columbia, Puerto Rico and United States Virgin Islands. Through the Social Security Act of 1935, the federal government of the United States effectively encouraged the individual states to adopt unemployment insurance plans.

Are you eligible?

People that are out of work who do not qualify for unemployment insurance include part-time, temporary, and self-employed workers, and school graduates.

Here are reasons unemployment benefits would be declined:

1. not being able or available to work
2. voluntary separation from work without a good cause
3. discharge connected to misconduct
4. refusal of suitable work
5. unemployment resulting from a labor dispute
6. Failing a drug test
7. Committing fraud
8. Receiving severance pay
9. Getting freelance assignments

Generally, the worker must be unemployed through no fault of his/her own. The unemployed person must also meet state requirements for wages earned or time worked during an established period of time (referred to as a “base period”) to be eligible for benefits. In most states, the base period is usually the first four out of the last five completed calendar quarters prior to the time that the claim is filed. Unemployment benefits are based on reported covered quarterly earnings. The amount of earnings and the number of quarters worked are used to determine the length and value of the unemployment benefit. The average weekly payment is $293.

As a result of the American Recovery and Reinvestment Act passed by Congress in February 2009, many unemployed people can receive up to 99 weeks of unemployment benefits; this may depend on State legislation. Before the passage of the American Recovery and Reinvestment Act, the maximum number of weeks allowed was 26.

Quitting does not automatically disqualifies you from unemployment compensation. You can quit and still get benefits.

Maximum weekly benefits range from a low of about $200 in Alabama, Florida, Mississippi, South Dakota and Arizona to a high of about $600 in Massachusetts, New Jersey, and Washington.

Whether you can quit and still qualify for unemployment benefits also varies from state to state. So before you quit, check the laws in your state.

If you quit because your employer basically leaves you no other option, you may still be able to collect unemployment benefits. Here are some reasons for quitting that may fall into this category:

1. Lack of work. If your employer stops giving you work, or cuts your hours severely, you’ll probably still qualify for unemployment benefits. Some employers try this as a trick to avoid paying increased premiums. Apply anyway.

2. Constructive discharge. If working conditions are so intolerable that no reasonable person would stay, you may have been constructively discharged, which means that unemployment will treat quitting the same as if you were fired without cause. Constructive discharge is really tough to prove, so make sure your situation is severe before you quit. Sexual harassment, dangerous working conditions that the company won’t fix, or demanding that you participate in illegal activities may justify quitting and still qualify you for unemployment. Demotion, changes in job duties and pay cuts may also be constructive discharge.

3. Medical reasons. In some states, having a medical condition that keeps you from working won’t disqualify you. In others, it will, or you might not qualify unless work caused or aggravated the medical condition.

4. Domestic violence. Some states allow employees who must quit because of domestic violence to qualify for unemployment benefits.

5 .Caring for a family member who is ill. Some states allow employees who must quit to care for a seriously ill family member to qualify.

Zurich Insurance Finance Chief Wauthier Found Dead

Zurich Insurance Finance Chief Wauthier Found Dead

Dead Zurich Insurance Finance Chief Wauthier

Zurich Insurance Group AG (ZURN), the biggest Swiss insurer, announced that their Chief Financial Officer Pierre Wauthier,53 was found dead at his home yesterday.

Police officers are investigating how he died, the company said in an e-mailed statement late yesterday. They declined to disclose further details.  Officials found no indications of third-party involvement in the death, Marcel Schlatter, a police spokesman said.

“The board of directors, group executive committee and all of our colleagues are deeply saddened and pass on our condolences to the family and relatives,” Chief Executive Officer Martin Senn said in the statement.

The police ordered an autopsy to determine the cause of death, according to Schlatter. He said that Wauthier lived in Walchwil, a municipality with about 3,591 residents on the eastern shore of Lake Zug.
KPMG, JPMorgan

Wauthier, who held a master’s degree in international finance from l’Ecole des Hautes Etudes Commerciales and a Masters in private law from the Sorbonne University in Paris, began his career at KPMG in 1982, according to Zurich Insurance’s website. He worked for two years at the French Ministry of Foreign Affairs and joined JPMorgan Chase & Co. (JPM:US) in 1985, before taking on the job at Zurich Insurance.

Zurich Insurance, based in Zurich, said on Aug. 15 that floods in central Europe and tornadoes in the U.S. contributed to a 27 percent decline in second-quarter net income to $789 million, missing analysts’ estimates.

The shares fell 1.8 percent to 239 francs by 10:48 a.m. in Zurich, valuing the company at 35.4 billion francs ($38 billion).

States foresee more insurance customers

States foresee more insurance customers

Affordable Care Act insurance Obamacare

WASHINGTON — USA TODAY made a survey and shows that from the 19 states operating health insurance exchanges to help the uninsured find coverage, at least 8.5 million will use the exchanges to buy insurance. That would far outstrip the federal government's estimate of 7 million new customers for all 50 states under the 2010 health care law.

USA TODAY contacted the 50 states, and 19 had estimates for how many of their uninsured residents they expect will buy through the exchanges. About 48 million Americans were uninsured in 2011, according to the Kaiser Family Foundation.

Under the law, also known as the Affordable Care Act, people without health insurance provided by their employers, the government or their parents will have to buy insurance on the exchanges, which are websites where they can compare prices and choose policies. They will pay a fine if they decline to buy the insurance.

To stay financially viable, insurers need healthy people to help round out the costs of those with chronic conditions. The non-partisan Congressional Budget Office did its own research to determine 7 million people would enroll for the 2014 exchanges.

California alone said it expected to sign up 5.3 million people.

To diversify the health of the pool, the Department of Health and Human Services has targeted three states where half of uninsured people ages 18 to 35 live: Texas, Florida and California.

The states said they made their estimates based on how many individuals are uninsured and aren't likely to become insured by an employer, what insurers in their states expect and conversations with HHS about reasonable goals.

Source: USA Today

White House Reaffirms Housing Importance for Consumers and Government's Role in Protecting Middle Class Renters and Homeowners

White House Reaffirms Housing Importance for Consumers and Government's Role in Protecting Middle Class Renters and Homeowners

consumer government Housing

President Obama outlined a coordinated set of initiatives to build on the housing economy’s emerging recovery which is an important step in reaffirming housing’s importance to American consumers, whether they are renters or owners.

Consumer Federation of America said in a statement released after the speech in Phoenix, AZ: “Access to sustainable, affordable home finance has been a fundamental supporting pillar of the American dream,” said Barry Zigas, CFA’s Director of Housing Policy. “President Obama’s speech reaffirmed that fact.  The policies he outlined are important, positive steps that will help Americans build economic and family security through a strong and resilient housing economy.”

Importantly, Zigas noted, Obama’s speech recognized that while the overall economy shows steady improvement, and housing prices have stabilized or even increased significantly in many markets, millions of American homeowners remain mired in the wreckage left by a spree of unregulated, unscrupulous speculation and reckless behavior by Wall Street banks, mortgage brokers and investors. The speech promised much needed continuation of existing rescue programs like HAMP and HARP, and increased focus on spending the $7.6 billion provided to the so-called “hardest hit states” with the highest rates of home foreclosures.

“The banking system has been too slow to rectify the mistakes that led to the financial crisis,” Zigas said.  “We applaud the fact that more than 1 million homeowners have received mortgage modifications under HAMP, and several million more reduced their mortgage payments through refinancing into lower interest rates.  But much more remains to be done, and today’s speech gives those families renewed hope that help is on the way.”

The speech also focused on the high rent burdens facing increasing numbers of renters, including middle income wage earners.  Families’ ability to save for important life events, including education, retirement and the down payment for a home is compromised if their rent eats up most of their paycheck.

“The Low Income Housing Tax Credit and rental assistance programs are critically important in our current economy, where stagnant wages and persistent under-employment challenge even the most dedicated housing developers,” Zigas said.  “Support for existing programs, and expanding them, even in a constrained budget environment, is an investment in critical economic and social infrastructure.”

Access to Mortgage Credit

Millions of consumers today are locked out of mortgage financing because lenders and Fannie Mae and Freddie Mac have reacted to the mortgage crisis by going too far in restricting credit.  The President’s call for clarity in underwriting and credit decisions is important, but needs to be accompanied by an equally forceful message to the lending community that the billions of dollars extended by the federal government to restore their balance sheets must be coupled with a commitment by those same banks to help everyday American families with sustainable, affordable loans.

“Credit today is far tighter than it was when homeownership rates were rising and responsible, sustainable credit was available through fully documented, long term fixed rate loans in the 1990’s and early 2000’s,” Zigas said.  “Lenders need to get back in the market with those products.  Today’s speech is a good step, but this dance requires both partners to get on the floor.”

Mortgage Finance Reform

Today’s speech is the Administration’s first policy proposal on the future of the US mortgage finance system since its White Paper in 2011.  That paper outlined a series of options, but did not endorse a specific approach.

“Today’s speech puts the Administration squarely behind the important role that government must play in assuring that consumers of the future enjoy the same access to affordable, sustainable mortgage credit that their parents and grandparents did,” Zigas said.  “The President’s announced proposals track closely those of the Bipartisan Policy Center’s housing commission, and proposals made by many organizations in recent years, including CFA,” Zigas noted.  (Zigas serves as a member of the BPC housing commission.)  “Together with emerging bipartisan proposals like that offered in the Senate by Sens Corker, Warner and their colleagues today’s announcement should accelerate the important work of restoring a durable housing finance structure for US consumers.”

FHFA Leadership

CFA strongly supports the President’s call for swift action on the pending nomination of Rep. Mel Watt to be Director of the Federal Housing Finance Agency (FHFA).  “As overseer of the two biggest sources of mortgage financing for consumers today,” Zigas said, “it is long past time when the agency should be led by an appointed and confirmed Director.  CFA joins the  White House in urging Senate action on the pending nomination.”

Bullying - Info-graphics

Bullying - Info-graphics

bully Bullying cyberbullying

Bullying is a reality that our children face today and it's not just bullying in school but also bullying on the Internet called cyberbullying.

Bullying is the use of force or coercion to abuse or intimidate the victims. It is an unwanted, aggressive behavior. It can be habitual and involve an imbalance of social or physical power.

It may include verbal harassment or threat, physical assault or coercion and may be directed repeatedly towards particular victims, perhaps on grounds of class, race, religion, gender, sexuality, appearance, behavior, or ability. If bullying is done by a group, it is called mobbing. The victim of bullying is sometimes referred to as a "target".

Bullying behaviors happen more than once or have the potential to happen more than once.

Check out these info-graphics on bullying:

Car Insurance Companies charge more depending on your Education or Work Status

Car Insurance Companies charge more depending on your Education or Work Status

Car Insurance Companies Car Insurance company

Insurance companies consider a lot of factors to determine the amount of premium you need pay. A report said that some companies includes your education level and work status and may charge you more for it.

According to a report by the Consumer Federation of America, companies like GEICO, Progressive, Liberty Mutual and Farmers will charge you more if you only have a high school diploma or work a "blue collar" job.

Geico, for instance, often charges a Seattle-based factory worker with only a high school degree $870 a year for insurance. Which is 45 percent higher than the $599 it would likely charges a plant supervisor with a college degree.

Comparison from different states: 45% more in Seattle ($870 vs. $599), 40% more in Hartford ($1299 vs. $926), 33% more in Oakland ($922 vs. $693), 23% more in Louisville ($2200 vs. $1791), 21% more in Chicago ($1013 vs. $840), and 20% more in Baltimore ($1971 vs. $1647).

The cost of owning a car just keeps on increasing with skyrocketing gas prices and exorbitant repair fees, now you need to pay more on insurance premiums based on your education and work status.

Consumer Federation of America Report (PDF)

Diabetes linked to disability risk

Diabetes linked to disability risk

Diabetes disability risk health

A research shows that adults with diabetes have a higher risk of physical disability, it was reported on BBC News.

Older people with diabetes are 50% to 80% more likely to develop a physical disability than those without, according to a review of 26 studies.

There were no distinction made between type-1 and type-2 diabetes, but most of the data involved people over the age of 65, who are more likely to have type-2.

Ensuring all people with diabetes have access to the right care is hugely important.

The research is published in the journal the Lancet Diabetes & Endocrinology.

Disability was defined as impaired mobility and the inability to perform normal activities such as bathing, eating, shopping or using transport.

The Australian researchers say the reasons behind the link are unclear, but high blood sugar levels may lead to muscle damage over time.

Pre-diabetics needs to visit optometrist to prevent Blindness

Pre-diabetics needs to visit optometrist to prevent Blindness

Blindness Diabetes Diabetic retinopathy optometrist Pre-diabetics

If you are diagnosed with pre-diabetes, which means that you have high levels of blood sugar but not enough to be considered diabetes. It is important to visit your optometrist as quickly as possible to avoid Diabetic retinopathy or blindness.

Patients with pre-diabetes are more likely to develop type 2 diabetes and many already have diabetic symptoms.

Diabetic retinopathy, is retinopathy (damage to the retina) caused by complications of diabetes, which can eventually lead to blindness.

Palo Alto Medical Foundation (PAMF) stated on their website that more than 18.2 million people in the US have diabetes and Diabetic retinopathy now affects 5 million Americans and causes 24,000 new cases of blindness yearly.
VSP doctor, Anastasios Fokas, O.D said that it is important for people with pre-diabetes to visit their optometrist.

“I see patients all the time who aren’t managing their disease well, and that’s just tragic,” says Dr. Fokas. “Their vision could have been saved, if only they’d managed their illness better.”

There are three major treatments for people with diabetic retinopathy that are very effective in reducing vision loss from this disease. In fact, even people with advanced retinopathy have a 90 percent chance of keeping their vision when they get treatment before the retina is severely damaged. These three treatments are laser surgery, injection of corticosteroids or Anti-VEGF into the eye, and vitrectomy.

Obamacare: Smokers May Get A Break from penalties

Obamacare: Smokers May Get A Break from penalties

Obamacare Obamacare Smokers smoke

Penalties against smokers may be limited due to a  glitch caused by conflicting rules. President Obama’s universal health care program includes penalties for smokers. However, a computer glitch may temporarily limit the penalty fees.

Obamacare will be implemented in 2014. As the start date nears, glitches and other issues have caused the delay of several provisions.

A provisions imposes fines on employers who fail to provide health coverage to employees. Last week it was announced that those fines will be delayed for one year, as officials review the complex provision.

Another provision of Obamacare, smokers will be charged higher premiums based on age. However, the computer program has failed to separate the categories. The glitch would charge smokers of all ages the same penalty.

This means that older smokers will get a break on the penalty amount. However, younger smokers may pay more than anticipated.

The current penalties are up to 50 percent more than the premiums paid by non-smokers. Additionally, smokers are exempt from tax credits that will offset health care costs for non-smokers.

As it stands, the standard insurance plan will cost a 64-year-old non-smoker $9,000 per year. In contrast, a smoker will pay over $13,000 for the same policy.

It could take up to one year to resolve the glitch. Officials have not announced postponement of the penalties for smokers.

As reported by ABQ Journal, Robert Laszewski, a consultant with the health care industry, is concerned that glitches and confusion will continue to cause delays:

“This was an administration that was telling us everything was under control … Everything was going to be fine. Suddenly this kind of stuff is cropping up every few days.”

As officials continue to organize the details for the anticipated 2014 launch, other glitches are sure to surface. However, with Obamacare, smokers may get a temporary break.

Read more at http://www.inquisitr.com/838474/obamacare-smokers-may-get-a-break/#J0so30dR6qemqiTc.99

Travel insurance

Travel insurance

Travel insurance

The purpose of Travel insurance is to cover medical expenses, financial default of travel suppliers, and other losses incurred while traveling, either within one's own country, or internationally. Temporary travel insurance can usually be arranged at the time of the booking of a trip to cover exactly the duration of that trip, or a "multi-trip" policy can cover an unlimited number of trips within a set time frame. Coverage varies, and can be purchased to include higher risk items such as "winter sports".

Terrorism is excluded except for the Emergency Medical and other expenses section, Personal Accident section and Hijack section (where cover is provided as part of the policy). If the terrorist act involves a nuclear device or a chemical or biological agent, there is no cover at all.

Illinois Bill would raise car insurance liability coverage to $25,000

Illinois Bill would raise car insurance liability coverage to $25,000

auto insurance Illinois insurance

In Illinois, State legislation would raise the minimum for first time since 1989 and is awaiting Gov. Pat Quinn's signature. The bill will raise the required liability coverage for auto insurance to $25,000 from $20,000. The legislation was passed by the Illinois General Assembly. In 1989, Illinois lawmakers voted to require all motorists to carry a minimum of auto liability insurance, which helps pay for injuries to others.

The raise will definitely help people who don't have health insurance. At first, they were suppose to raise it to $50,000 but they are worried that lower-income consumers would not be able to afford their car insurance and would rather drive without any insurance.

Based on Insurance Information Institute data, 15% of Illinois motorists drive without insurance.

Rep. Laura Fine said, "Ending up at $25,000 was a product of negotiation." "We tried to strike a balance between financially protecting the injured while keeping premium rates low for those who purchase the minimum coverage," she added.

The increase in minimum liability coverage will cost Illinois consumers who currently have basic car insurance coverage an additional $75 a year.

The Consumer Federation of America says raising the minimums will exacerbate problems for people who can barely afford insurance now.

Another downside is that additional $5,000 is a small amount in dealing with today's medical costs. Based on the consumer price index, $20,000 in 1989 dollars is equivalent to $37,000 today.

At the same time, consumers are becoming responsible for a bigger share of their medical costs.

A TransUnion Healthcare report released last month found that patients' average out-of-pocket costs on key medical procedures has grown nearly 22 percent in the last year, to $2,042.

Direct Line Insurance to fire 2,000 employees because of sluggish insurance market

Direct Line Insurance to fire 2,000 employees because of sluggish insurance market

Direct Line Insurance

Reuters reports that in Britain Direct Line Insurance Group Plc (DLGD.L) a motor insurer, is planning to axe about 2,000 positions, joining fellow insurers looking to trim costs and boost profits in a sluggish and competitive market.

The company will said that the move would allow it to save a further 130 million pounds ($200 million) annually by 2014, targeting a cost-base of about 1 billion pounds in 2014.

Direct Line Insurance is Britain's biggest car insurer, they have about 15,000 employees, and has been cutting costs and avoiding high-risk drivers since 2010 to protect itself from stiff competition, and new regulation in the British motor insurance market.

Several insurers, including Aviva Plc (AV.L), AXA (AXAF.PA) and Standard Life (SL.L), have cut their workforce in recent months in an effort to reduce costs and prepare for new regulations that include higher capital requirements.

The company said the job cuts announced on Wednesday would include head office and support positions.