Medicare Open Enrollment is Over, but not Obamacare, yet

While the Open Enrollment Period (OEP)was over for most senior citizens on December 7, those who are duo eligible (have both Medicare and Medicaid), or have a chronic illness such as diabetes can change or replace Original Medicare, Medicare Advantage or a Prescription drug plan anytime throughout the year. Also, specific situations, such as moving into a new area of realizing an eligibility change can allow you a Special Enrollment Period (SEP).

However, if you are not yet eligible for Medicare, you are vulnerable to Obamacare, and all of its problems. If you have been able to enroll on healthcare.gov, you are “lucky”. And, if you did enroll you probably discovered that you had an increase in premiums along with a higher deductible and co-payments. Keep in mind that although you have enrolled, you do not have insurance until you have paid the first premium.

Here’s why your premiums have gone up: Obamacare has the requirement that insurance policies has to cover “ten essential health benefits”. Obamacare requires you to pay for these benefits whether or not you want them or need them. For example, a childless person must pay for a plan that includes pediatric services.

Now, here are these ten essential health benefits:
1. Ambulatory patient services
2. Hospitalization
3. Prescription drugs
4. Prevention and wellness care.
5. Emergency services
6. Maternity and newborn care.
7. Rehabilitation services
8. Laboratory services
9. Mental health services
10. Pediatric services

If you voted for Obama, you got what you voted for. Always remember, elections have consequences. Another election is coming up in November 2016. Research the candidate’s position on the issues that matters to you. Keep in mind that a vote for Hillary Clinton is a vote for a 4 year extension of Obama's policies, including Obamacare.

Consider if the candidates positions become law, how would it impact you, your, family and your bank account.  Know their past voting records, and then decide who would be the best candidate for your vote. Don’t vote on superficial qualities and then have buyer’s remorse.


What are your thoughts? Leave your comments below.

Quick Guide to Buying Long Term Care Insurance

It is important to remember that when planning for long -term care, the focus should not be on the cost of care currently, but what care will cost when it is most likely needed. That may be 10 years, 20 years, 30 years, or longer.

Now let's consider five essentials regarding long term care insurance.

1. There are different types of provisions in long term care insurance. The type of long term care that is provided depends on the patient's medical necessity, psychosocial needs, and financial situation. Types of long term care include: skilled nursing, intermediate, custodial home-based and hospice care.

2. Policyholders must meet certain conditions to receive benefits.
Long term care benefits begin when policyholders meet certain conditions. A licensed professional performs an assessment to determine if there is a medical necessity for long term care. Medical necessity is generally defined as an inability to perform daily activities, such as bathing, dressing, or eating, due to severe physical limitations or cognitive impairments.

3. The type of policy and the needs of the individual determine the cost of long term care insurance.
Annual premiums can vary significantly depending on your age, health, and the type of policy, but policies can run as high as $5,000 or more per year, However, you do not have to pay that much. Your premium could be reduced by choosing a shorter benefit period, buying at a younger age, sharing care, choosing a longer elimination period, reducing the daily benefits, and including inflation protection.

4. A typical policy pays for care either in a nursing facility or at home
You may fiercely resist living out the rest of your life in a nursing home and would prefer to live at home. These benefits include homemaker/home helper service and home health services which would cover both non-medical and medical services in the home. Today's best long term care policies are designed to provide for this.

5. Your premiums may be tax deductible

There are tax advantages to acquiring long term insurance. Whether you buy it as an individual, a sole proprietor or as a corporation, the premiums can be treated as a tax deductible medical expense. Your tax adviser can update you on the current federal and state rules and limits.


Choosing a Long Term Care Insurance can be complicated. Leave me an e-mail at bwillbar@gmail.com if you have any questions. and, don't forget a Final Expense Plan.

Any Comments? Leave them below.

A Little Known, But the Best Way to Own Your Home or Any Property

In real estate jargon, four of the most common ways that people own real estate are: ownership in severalty (owned by one person or entity), co-ownership, tenancy by the entirety (limited to husband and wife), and community property.

However the common thread that runs through each of these types of ownership is that whoever has title to the property that name or names are recorded in the public records for the entire world to see. 
If it's fine with you for the entire world to know that you own your home and perhaps other properties, the option under discussion in this article will not benefit you. However, if you would like to keep your ownership away from the eyes of attorneys, bill collectors, tenants, and other similar types, then having your property in a land trust should be a clear and beneficial choice.

In Illinois, as in Florida, Virginia, North Dakota, Indiana, and Hawaii, by statute or court cases, the option of owning your property in a valuable way by using a land trust is available to you. Essentially a land trust is a type of ownership in which a trustee holds title to the property while the beneficiary of the trust (whose name is concealed) has the power to dispose of the property, manage the property, receive income from the property, and retains the obligation to pay the taxes on the property. 

A trustee can only act under written direction of the beneficiary who can instruct the trustee to buy, sell, exchange, or mortgage the property. In other words, the sole function of the trustee is to hold title and sign documents, to transfer title to another, and to lease or finance the property all under the direction of the beneficiary.

Another benefit is that the beneficiary's ownership is considered personal property and not an interest in real estate. The values of having the beneficiary interest considered as personal property are as follows: 

• personal property has different probate requirements than real property; 
• the beneficiary is protected against liens and other laws regarding real estate; 
• a land trust allows the beneficiary to sell or give away portions of his interest without subdividing the property or deeding a partial interest in the real estate; 
• personal property transfers are generally not recorded in the public records, the trustee is simply notified of any transfer of beneficial interest; and, the beneficiary of a land trust could even be another trust, perhaps a living trust.

Once again, a beneficial interest in a land trust is considered personal property and does not appear on the public records. You can easily and quietly transfer your interest in a land trust to someone else whenever you desire.

If you value privacy, ownership in a land trust should be seriously considered. Anyone searching the public records on your property will only you see the name of the trustee and not know who owns the beneficiary rights to the property. Let it suffice to say that whether you are a homeowner or investor, a good choice for you would be to use a land trust and let the title of your property be in the name of your trustee.

What are your thoughts. Leave your comments below.