Licensed Insurance Broker
Specializing in health, life, and long-term care solutions
Welcome! We are here to help you place all your insurance pieces together to create comprehensive coverage for you, your family, and your business.
This is a list of the coverages that we offer with a general explanation. Because insurance is a crucial decision, speaking with a professional to help you navigate these important decisions will suit you well for years to come. Should you need additional coverage not listed here, we can be a resource to finding a dedicated professional, like us, to help you navigate the world of insurance.
Health Insurance
There are several types of health insurance plans designed to meet different needs. Some types of plans restrict your provider choices or encourage you to get care from the plan’s network of doctors, hospitals, pharmacies, and other medical service providers.
B. Stern Insurance Advisors can help you choose the appropriate coverage to meet the needs of asset protection. Whether you are an individual, family, or business, health insurance is about protecting you. In some cases, tax savings can be strategized.
Depending on how many plans are offered in your area, you may find plans of all or any of these types at each metallic level – Bronze, Silver, Gold, and Platinum.
Some examples of plan types are:
- Exclusive Provider Organization (EPO): A managed care plan where services are covered only if you use doctors, specialists, or hospitals in the plan’s network (except in an emergency).
- Health Maintenance Organization (HMO): A type of health insurance plan that usually limits coverage to care from doctors who work for or contract with the HMO. It generally won't cover out-of-network care except in an emergency. An HMO may require you to live or work in its service area to be eligible for coverage. HMOs often provide integrated care and focus on prevention and wellness.
- Point of Service (POS): A type of plan where you pay less if you use doctors, hospitals, and other health care providers that belong to the plan’s network. POS plans require you to get a referral from your primary care doctor in order to see a specialist.
- Preferred Provider Organization (PPO): A type of health plan where you pay less if you use providers in the plan’s network. You can use doctors, hospitals, and providers outside of the network without a referral. See your plan benefits for specifics.
Supplemental /Voluntary Benefits
While your major medical pays the doctors and hospitals, who is looking after you and your financial obligations?
Often people overlook the need for benefits to help pay for expenses while you are unable to work due to injury or illness. The rent, mortgage, telephone, child-care expenses, groceries, co-payments, and deductibles are all expenses that people do not plan for when one is off work.
Why tap into savings and your 401K or borrow money when you can have a check come directly to you? You use the money how you see fit. No co-insurance or overlap of company benefits apply with this coverage.
These benefits include:
Most can be offered on a direct basis or through payroll deduction often with a tax savings benefit to you, the employee, and the employer. Many of these plans are often portable if offered through an employer.
Disability Insurance
Often overlooked, disability insurance is one of the most important policies that we offer for groups or individuals during their working years. Many people purchase life insurance after giving thought to how their death might impact their family’s living standards. However, few give the same consideration as to how an extended disability would impact their lifestyle.
The typical worker faces a much higher risk of extended disability than premature death. Disability insurance is designed to replace approximately two-thirds of your gross income.
Two important question to ask yourself are:
“If I am suddenly unable to work due to illness or injury, how would I pay for my daily living expenses or operating expenses for my business?” and
“If I become disabled, will my family be able to maintain their current lifestyle?” Both of these are great questions to ponder.
Disability coverage is offered on an individual and group basis. Every disability insurance policy is different and it’s important not to base your decision solely on premiums. After all, the odds of getting paid an adequate monthly benefit comparable to your monthly salary may vary greatly from one company to another.
Long Term Care Insurance
Today people are living longer, and everyone is worried about the rising cost of health care. One of the fastest growing concerns is how to manage the cost of living longer. Contrary to what one might think, many long-term care services are not typically covered by any other kind of insurance, including health and long-term disability insurance. Long-term care insurance policies cover day-to-day assistance when you are unable to perform two or more activities of daily living. These are eating, bathing, dressing, toileting, transferring, grooming or cognitive impairment. Medicaid can help to pay the costs of long-term care in a nursing care facility. To qualify for assistance, you must meet the Medicaid eligibility guidelines established by your state. It's important to note that Medicare does not help with long-term care costs.
People often think of Long-Term Care insurance as “Nursing Home Insurance”. Today it is referred to as Skilled Nursing Care. If asked, where one would like to receive care, a majority of people state their home. Long Term Care insurance provides home healthcare, skilled, intermediate, and custodial care. It helps you stay independent as long as possible, enabling you to remain in your home, choose an assisted living facility, adult day care or skilled care facility. Additionally, coverage due to a mental disorder or cognitive impairment is another component of the policy. Limitations to performing two or more of your activities of daily living i.e. eating, bathing, dressing, toileting, continence, and transferring will activate the policy.
Other reasons to consider Long Term Care:
Unfortunately, most health care plans don’t cover these costs, and no one wants to spend down the assets that they have worked so hard to accumulate during their career. One should consider Long-Term Care if:
Caregiving for a family member is often a stressful and difficult experience. It can mean time spent arranging for care or hours devoted to looking after a family member. This is especially hard on people trying to juggle the responsibilities at home and work. On average, one year in a nursing home or 24-hour care can cost more than $66,000 per year, a good reason to consider Long Term Care Insurance.
Life Insurance
Life insurance can provide a dependable piece to your financial portfolio, providing protection for your family with savings for tomorrow.
Consider what would happen to your family’s way of life if you or a family member died unexpectedly. How would your family pay for medical expenses, rent or mortgage payments, children’s education– even everyday living expenses like food, clothing and utility bills?
Too often people are faced with the premature death of a loved one. Protecting your family with the proper amount of life insurance is a valuable cornerstone to your loved ones future. Programs can be modified for families, husband and wife, and children coverage too. A helpful rule of thumb when determining how much life insurance you need is to multiply your current salary by five to eight years.
There are two basic types of life insurance:
Each has benefits that may be important to you depending on the “ifs” in your life. Permanent life products can build cash value and often have favorable tax advantages.
B. Stern Insurance Advisors will help advise your life insurance needs at any stage in life.