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We’ve got the latest information on what you need to know—and some myths you should ignore.As the new coronavirus continues to spread, it’s important to reduce risk by educating yourself and your family about the facts. (After all, knowing the facts can help reduce anxiety.) There’s plenty of conflicting, misleading, and confusing information out there, with false rumors and bad advice spreading all the time. In fact, the World Health Organization (WHO) described this as an “infodemic.”
It’s hard to know what’s true and what isn’t. We’re here to help.
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How Can I Save Money on Insurance, Now!
During hard economic times, we are all looking for ways to save money. Here are some tips on how you might make small adjustments to your insurance plans in order to save money right away.
Do you have more than one car and don't need to use one or more right now? You can place one or more vehicles on "non-op" status. Non-Op or Non-Operational status allows you to remove all coverages except comprehensive coverage from those parked vehicles. That could save hundreds of dollars per month, starting now!
There are some rules:
1. You must notify DMV that the vehicle is not being driven. Otherwise your registration will be suspended for lack of insurance.
2. The vehicle must be parked out of view of the street. Park it in the garage, behind a fence or gate or in a warehouse.
3. Some insurance companies have their own rules, so check with them on the best way to do this.
4. BEFORE YOU DRIVE your parked car again, Contact your insurance company and DMV to let them know it will be in use so that your insurance and vehicle status is up to date!
Homeowners insurance does not have many areas for savings; however, you can save by changing your deductible. If it is $500, consider $1000. Is it $1000, consider a $2500 deductible. This will save 10-20% off your monthly bill.
1. Individual Plans - If your income has dropped, Covered California (the state exchange) has opened up a special enrollment period that will allow for new applications to find coverage. Based on Income, there are discounts (tax credits) available or you may qualify for Medi-Cal, Low income health insurance.
2. Group Plans - If your business has a group plan. Consider changing to a lower cost plan temporarily to reduce your overhead expenses. A group can change plans any time during the year. As things improve, you could increase the coverage again later.
3. Most Importantly - Do not go unisured! The right plan is available for everyone, reach out for help to find the best plan for you.
Some business insurance plans are based on revenue, number of employees or square footage. Talk to your agent or broker and review your most recent application. Is your income lower, fewer employees, smaller warehouse? Those can all affect your rates. Making corrections could reduce your insurance expenses.
If you are using fewer workers during this crisis, contact your insurance broker to adjust your plan. This may lower your premiums until business picks up again. When it does, be sure to tell your agent right away. Otherwise, you may owe money at the end of the year audit.
Life insurance is one plan you do not want to touch. Keep it as long as you can. If you must make a change to reduce cost, contact your agent or insurance company. You may be able to change the term or amount of coverage to lower your costs.
Final Note: Be sure to review your coverages with your agent every year. Annual reviews will take 20-30 minutes and will make sure you have the right coverage based on the correct information.
Questions? Contact Us: 714-900-2363
Employers must be very careful with the transition involved in moving employees home to work. Remote employees raise significantly more challenges with Workers’ Compensation, particularly since the employer has little to no control over the home premises of the employee.
Here are some best practices to ensure your company’s work from home policy benefits the employee AND the employer:
• Physically inspect the employee’s home office to make sure it is safe.
• Clearly define the physical boundaries of the home office. If the boundaries are not well-established, an employer might be liable for an injury that happens anywhere on the employee’s property.
• Set specific work hours. Otherwise, an employee could argue that an injury occurring at any time of day or night is work-related.
• Specifically describe the scope of the employee’s activities. This reduces the possibility a clerical employee could successfully present a claim for doing a physical activity while in the home. The policy should make it clear that activities falling outside the employee’s job description are not the employer’s responsibility.
• Teach employees about injury prevention. The largest injury exposure for employees working from home is ergonomic type injuries.
Questions? Contact Us: 800-846-5902
AFLACTo Our Valued Clients, Colleagues and Friends:
During these unprecedented times, we want to reinforce our commitment to you and the service standards that you expect from us. Our top priority is to minimize any service disruption to our customers, while ensuring the safety of our employees. We want to reassure you that we are operational and ready to provide you with superior customer service. Our staff is working remotely and remain ready to take your calls, emails and texts.
Our Health Insurance Carriers are not charging members for medically necessary screening and testing for COVID-19.
Important Health Insurance Contact Numbers:
United Healthcare 866-414-1959 COVID-19 Info
Blue Shield (800) 393-6130 COVID-19 Info
Kaiser Permanente 800-464-4000 COVID-19 Info
Oscar Health 855-672-2788 COVID-19 Info
HealthNet 800-522-0088 COVID-19 Info
AFLAC 800-992-3522 COVID-19 Info
Our first priority is the safety of our staff and our customers. During these events surrounding the Coronavirus situation, we encourage you to do all that is necessary to remain safe and healthy.
George Varela, Pacific All Risk Insurance Brokers, LLC
Under new affordability initiatives enacted by the Governor and Legislature (SB 78 (Chapter 38, Statutes of 2019) and SB 106 (Chapter 55, Statutes of 2019), California will build on the success of the Patient Protection and Affordable Care Act and bring quality care within reach of more people.
California will be the first state in the nation to provide state subsidies to many middle-income consumers who had previously not qualified for financial help because they exceeded federal income requirements. In addition, hundreds of thousands of lower-income consumers will also receive additional financial help on top of the federal assistance they currently receive to help them obtain and keep their coverage. California also reversed the federal undercutting of the Affordable Care Act and restored the law that requires consumers get health insurance if the cost of coverage does not exceed a certain percentage of their income.
Who will qualify?
An estimated 235,000 middle-income Californians who previously did not qualify for financial help because they exceeded federal income requirements. They will be eligible to receive an average of $172 per household per month, which will help them save an average of 23 percent off their current premiums.
Now, a single person earning up to $75,000/year and a family of four can make up to $150,000/year and still qualify for an additional tax credit.
What do I need to do?
All you need to do is shop your insurance coverage with Covered California to see if you will get a discount. After that, you can decide if that will work better for you or if you should continue doing what you have being doing in the past.
Questions? Contact us! Call or text: 714-900-2363
In a recent Forbes article found here, company executives have been found personally liable for mistakes made with 401K plan administration; violating their fiduciary duty to the employees whose retirement funds depend on those plans.
Based on current laws, it is the businesses responsibility to act as the fiduciary for the employee group retirement plan. Here are some of the common mistakes to avoid:
What to do:
Executives Retirement plan fiduciaries (Company Owners and Executives) need to review the investment options in their plans to remain diligent in maintaining the most appropriate choices. In Addition, they need to review the fees being charged. This is best done working with experts and documenting the professional review of the plan. A fiduciary liability insurance policy should be acquired and reviewed annually to ensure sufficient coverage.
Questions? Contact Us at 800-846-5902
It’s not a matter of “if” but “when”
Any business handling customer data will, sooner or later, be confronted with the challenge of a cyber breach. In the last decade the cyber threat landscape has changed. While the loss or disclosure of personal or sensitive data used to be a company’s primary concern in assessing their cyber risk, businesses are increasingly facing threats to their ability to conduct normal operations. Malicious threats like zero-day malware, ransomware, spyware and scareware are on the rise but businesses can not ignore unintended disclosure and human error risks.
We can help with our new cyber coverage plans, here are the details...
Resources Provided with your plan:
Contact Us to get your coverage started. call/text (714) 900-2363
Long-term international students and scholars medical insurance
Designed for students or scholars participating in a sponsored study abroad program, and desire an annually renewable comprehensive medical plan. This plan meets student visa requirements, includes benefits for maternity, mental health, organized sports, and international emergency care.
For students, scholars, and cultural exchange participants when inside the U.S., the UnitedHealthcare Options network is a longstanding reputable tier 1 network that gives you more access to more doctors and services.
When outside the U.S., you can also enjoy access to quality healthcare worldwide with our proprietary IPA network that includes over 18,550 physicians and facilities.
Are you or a family member planning a visit to the United States this summer? With over 75 million international visitors to the U.S. each year, it's critical for travelers to understand their health insurance options while in the U.S.*
Healthcare costs can be much higher in the U.S. than the rest of the world. Depending on your domestic health insurance plan, you may have limited or no coverage at all when traveling internationally, which could leave you liable for costly bills if you have a medical emergency.
See below for a brief summary of one of our most popular plans, Patriot America Plus:
Patriot America Plus
Shopping for health insurance is important to do every year. Plans change and new plans are added often, so be sure to shop for the plan that will work for you each year. There are three ways to get access to health insurance. Here they are:
1. Individual - Direct
If you know which insurance company you want to work with, you can contact them directly and purchase a health plan. Remember, Open Enrollment is from November 1 to Feb 28. Outside of this period, you will need a qualifying reason to enroll.
2. Individual - Exchange
Some individuals and families may qualify for a reduced cost also known as Advanced Premium Tax Credits (APTC), that will lower the monthly premiums for health insurance. To find out, you can shop with the state exchange (Covered California). Based on age, income and family size, one might qualify for a discount for one or more family members, Medi-Cal for children, or Medi-Cal for the family. Be sure to provide accurate income information to avoid having to reimburse the credits at tax time.
3. Group Benefits
Business Group plans are the most common way to get health insurance. Most employers offer a group plan to employees and their families. Company contributions help lower the cost for employees, and premiums are pre-tax deductions from payroll, which lowers payroll taxes for employees and the company. Group Insurance usually offer better benefits, larger doctor networks and lower premiums and lower annual increases. Group Benefits help employers with multiple health plan options, and by attracting and retaining good employees to their business.
Finally, you can maximize your cost of insurance by checking all three of the above for each member of your family. A Good Benefits Broker can help Businesses and Individuals navigate the above options. Feel free to contact us for more information.
Text or Call: George 714.900.2363
or email: email@example.com
California Simplifies Workers’ Compensation Experience Modification Calculations- for All Business Owners
The Insurance Commissioner recently adopted changes to experience rating. These changes make it easier for employers to understand:
The first $250 of every claim is excluded
Reporting the cost of minor workplace injuries helps everybody.
* See attached Flyer Below...