Showing posts with label nj health insurance. Show all posts
Insurance: What the Self-employed Should Know
Self-employment can be
liberating but it does have its downsides. One of these is the lack
of health benefits. Thankfully, the Affordable Care Act allows for
entrepreneurs to acquire NJ health insurance plans much more easily–
here’s what you need to know about it:
Mandatory Health Coverage
One of the most prominent
provisions of the ACA, also commonly called Obamacare, is quite
simple: affordable (and mandatory) health insurance coverage for
every American. This provision gives employers the responsibility of
getting insurance for their workers– all taxpayers should have at
least minimal coverage by this year, otherwise the IRS might end up
penalizing offenders. For this year, the tax penalty will either be
1% of income or $95.00, whichever is greater.
No more Coverage Denial
Insurance providers are no
longer allowed to deny coverage to anyone with a preexisting
condition as part of attaining their primary goal– this is great
news for the self-employed who would otherwise have to pay the IRS
fine. Moreover, you can no longer be charged with higher rates based
on your race or gender, nor can your insurance provider hold your
claim back the moment you get sick. You can also obtain tax credits
from your insurance.
Look for a reliable provider
to gain these benefits. Many New Jersey health insurance providers
will be more than willing to help you get the best coverage you can
afford.
Sunday, November 23, 2014
Posted by Unknown
Words Can Hurt Your Business
As a tech firm, you expect
your staff to be proficient in coding languages like JavaScript, C++,
and Objective C. Like any business, though, you also deal with a more
universal language: English.
That’s right, regardless
of industry, strong communication skills is a must not just in
keeping your employees informed of project requirements, but also in
getting the word out about your products and services.
Unfortunately, words can
also get you in trouble. For instance, if you say that a competitor’s
software has security vulnerabilities, they may very well sue you for
defamation, especially if they believe your claim to be false.
Basically, defamation is
when someone makes an incorrect statement about another party that
results in their suffering. In the case mentioned above, your
allegation might deter people from buying said software, which may
ultimately cause the competing firm’s stock price to fall.
If your defamatory
statement
is spoken or oral, you will be slapped with a slander case. If it is
written down, like a press release, news item, or even a blog post,
you’ll be facing a libel suit.
Of course, legal proceedings
are very expensive, and if your company happens to be a startup, the
legal costs may cause it to go under. So aside from getting health
insurance for your employees, be sure to get general liability
insurance as well, since it also covers litigation expenses
associated with defamation lawsuits.
Thursday, October 23, 2014
Posted by Unknown
A Need for Professional Liability Insurance
When it comes to insurance,
businesses have a lot more to worry about than just health insurance.
Professional liability insurance, for instance, aims to protect
people (and businesses) from costly lawsuits relating to the
performance of their professional responsibilities. Common examples
of these are malpractice insurance for doctors and lawyers.
Cases
Malpractice or negligence is
just one aspect of the liabilities insurance. Customers or clients
could file a lawsuit against companies for a variety of reasons, such
as failure to deliver a promised product or service, production and
distribution of inferior or damaged merchandise, errors in judgment
calls, and many others.
Every Lawsuit Counts
Many professionals believe
that since malpractice lawsuits essentially have low probabilities of
succeeding, they can do away with professional liability insurance.
However, the fact is, the moment your business is summoned to appear
in court, the costs are already flowing out of your pocket, something
that could take a huge toll on your revenues.
Claims-Based
Know that most liability
insurance offered by firms involve claims-based coverage. This means
that only lawsuits made and reported during the period of your policy
will be reviewed. If there are previous claims that you want covered,
look for a retroactivity coverage. If you’re retired but you’re
still concerned about lawsuits made relating to your previous
services, look for extended coverage.
Tuesday, September 23, 2014
Posted by Unknown
Insurance for Your Home-Based Business
Do
you run your business out of your own home? If so, then you need to
obtain an add-on (or rider) to your existing homeowner’s policy to
cover your business. Many others fail to obtain this add-on because
they are confused with what’s already covered by their homeowner’s
(or renter’s) policy. You should know that if you failed to
disclose your home-based business to your insurance provider, any
claim for losses or damages sustained or caused by it may be refused.
Your insurer may even cancel your policy altogether.
If
your home and business location are one and the same, your best bet
is to obtain coverage for your business as well. Did you know that if
the delivery guy comes with a business package at your door and he
slips and injures himself in the process, you could be paying for his
medical expenses from your own pocket? There’s no coverage for this
type of injury in your homeowner’s policy, and with the amount of
loss you could be facing, you’re sure to regret not obtaining
insurance for your business in the first place.
An
add-on to your homeowner’s policy generally provides around $2500
additional coverage, which is usually enough for sole
proprietorship-type business. However, if you have a lot of valuable
equipment and a lot of people visiting your home for business
matters, consider acquiring an in-home business policy.
Wednesday, September 3, 2014
Posted by Unknown
What You Should Know about Product Liability
Health insurance, worker’s
compensation, and commercial property insurance—these are some of
the most common types of insurance coverages that businesses should
have. However, what many fail to take into consideration is the
importance of product liability insurance. This also falls under
errors and omissions insurance, and for good reason, too.
Product Flaws
When one thinks of product
liabilities, manufacturing errors is often the first thought to cross
the mind. This problem is rampant ever since the beginning of the
Industrial Revolution, where every step of the manufacturing process
could be tainted with imperfections or mistakes. Though mass
production processes are much more refined today, flawed products
remain one of the most common sources of business lawsuits.
Design or Instruction
Defects
Sometimes though, the
manufacturing process isn’t to blame, but the very nature of the
product itself. Many customers often file class action suits claiming
that a product’s design is hazardous, ineffective, injurious or
even downright deadly (when it shouldn’t be). In some cases, the
manufacturer failed to give sufficient instructions as to the
product’s proper use.
Failure to Warn
Even with sufficient
instructions as to use, a manufacturer could nonetheless fail to
provide sufficient information as to the danger or hazards that a
product poses. This is especially true when it comes to chemical
cleaners, fertilizers, or other substances and products that can
potentially harm the user.
Wednesday, August 27, 2014
Posted by Unknown
Why You May Need Commercial Car Insurance
Commercial
car insurance
isn’t just for large fleets anymore. For some small and medium
enterprise (SME) owners, this type of insurance may just be what the
doctor ordered.
If
you have a car insurance policy, you may believe that you’re
covered for when you use your vehicle for work. When time comes to
file a claim, however, this belief may just amount to losses. To
avoid facing this difficult situation, have your vehicle covered by a
commercial car insurance policy ASAP.
Tuesday, July 22, 2014
Posted by Unknown
First-time Buyers Need Not Fear Health Insurance
A hallmark of adulthood,
getting your first health insurance plan need not be so daunting.
Though there are a lot of confusing terms floating around like
co-pays, deductibles, and premiums, a prospective buyer should easily
be able to get the information he needs and the plan he requires.
Here are a few things to remember.
- Determine that you need one first. Yes, you’ll be needing an insurance plan to protect you from any health problems, but you may already be covered on someone else’s plan. If you’re under 26, your parents’ insurance can cover you, as would the plan of your domestic partner. If any of your close family member is covered, you can ask to join in his or her plan.
- Workplace insurance is one of the most accessible and affordable option. Your employer will help pay for the premiums when you join in the company’s group insurance policy.
- For those who want to get their own policy, it is best to shop around first. Comparing rates will help you get the most benefit from the least cost. You’ll have to consider all the components of the policy, the conditions that the plan covers, and how high your deductible is.
- The size of the insurance network is important. The larger the network of medical providers, the more choices you have to select the best health providers in the list to meet your health needs. You want your insurance policy to be accepted in as many medical establishments as possible, and in among the best ones.
Monday, June 23, 2014
Posted by Unknown
Types of Insurance for Small Business Owners
Small
businesses play an important role in the U.S. economy as they help boost
employment rate and job growth. Pres. Obama even called them as “the backbone
of our economy and the cornerstone of our communities.” Some government agencies
have even rolled out programs to provide small business owners and their
employees the support they need. However, the owners themselves must also take action to
ensure their stability. How? Through insurance.
Now,
there are a lot of insurance packages on the market. How can business owners
know which one is best suited to their needs? Here are the common types of
insurance tailored for small businesses:
- General liability insurance. This insurance addresses potential
legal actions arising from accidents, injuries, and negligence claims.
- Product liability
insurance. This one, meanwhile, is best suited for product manufacturers to
protect them from financial losses in a defective product suit that also,
normally, arises when customers are harmed or sustain an injury.
- Professional liability
insurance. Service providers and professionals like lawyers and
accountants strongly benefit from this as it curtails the consequences of
malpractice, errors, and negligence.
- Commercial property
insurance. This insurance covers the loss or damage of business
properties.
- Home-based business
insurance. As homeowners’ insurance don’t cover businesses, this is
recommended for people with home-based businesses.
Friday, June 13, 2014
Posted by Unknown
Queries before Biting into Dental Health Insurance
Setting up an extensive, reasonable dental plan for your employees require thorough attention and dedicated focus so you can keep business costs fair and your employees happy. Along with medical insurance, dental coverage can be used to your advantage in seeking out and maintaining top talent in your company.
Here are some questions you should ponder on before selecting the most suitable dental plan for your employees:
What’s included?
Carefully deliberate which dental procedures you want covered for your employees. Dental plans generally promote preventive treatments like routine cleanings and checkups, as well as x-rays and fillings. Complex practices like dentures, braces, or bridges aren’t common but can still be included in the dental plan. Moreover, ask about co-payments, deductibles and maximum annual limits involved.
How much does it cost?
Decide if you wish to fully sponsor your employees’ dental plans, or if you only want to shell out 80% of the monthly insurance costs. You can also opt to make your employees distribute their own payments while you take care of administrative costs and payroll deductions. Though financing is in place, be ready for varying prices as the value of premiums still depend on business location, company size, and dentist availability.
How do I pick the ideal plan?
While looking around for dental care administrators, ask about their claims processing and their record of customer service and reputation to gauge their ability to accommodate you and your company. Confirm that they work with competent dental professionals.
Here are some questions you should ponder on before selecting the most suitable dental plan for your employees:
What’s included?
Carefully deliberate which dental procedures you want covered for your employees. Dental plans generally promote preventive treatments like routine cleanings and checkups, as well as x-rays and fillings. Complex practices like dentures, braces, or bridges aren’t common but can still be included in the dental plan. Moreover, ask about co-payments, deductibles and maximum annual limits involved.
How much does it cost?
Decide if you wish to fully sponsor your employees’ dental plans, or if you only want to shell out 80% of the monthly insurance costs. You can also opt to make your employees distribute their own payments while you take care of administrative costs and payroll deductions. Though financing is in place, be ready for varying prices as the value of premiums still depend on business location, company size, and dentist availability.
How do I pick the ideal plan?
While looking around for dental care administrators, ask about their claims processing and their record of customer service and reputation to gauge their ability to accommodate you and your company. Confirm that they work with competent dental professionals.
Wednesday, June 11, 2014
Posted by Unknown
