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So the Obamacare business mandates are postponed! That’s the BIG BREAKING NEWS so far this week! The bottom line is that the original reporting requirements are too complex for business owners to be able to accomplish everything in the time allotted, so the mandate deadline is being extended by another year! Here is what Mark J. Mazur, assistant secretary for tax policy, wrote in a post on the website of the Treasury Department!

“We recognize that the vast majority of businesses that will need to do this reporting already provide health insurance to their workers, and we want to make sure it is easy for others to do so. We have listened to your feedback. And we are taking action.”

Now don’t get me wrong, I know this is an interesting step all by itself, but it begs a bigger question: Is this a sign of things to come with the Healthcare Reform Act, or is this just one of those inevitable hiccups? Whether you are pro Obamacare or against it, is not the issue – pretty much everyone knows that there is a healthcare crisis in the U.S. that needs to be addressed in a thoughtful and intelligent way. And what is a BIG CONCERN of mine is if Obamacare and its implementation will actually provide the needed solution for all the unfortunate people, especially those in their late 50’s and early 60’s (this includes many of my clients) who have been laid off during the last few years. Especially those that haven’t reached 65 yet, and don’t qualify for Medicare, and on top of that don’t have a working spouse who can obtain benefits for them through an employer.

And this is what really gets me; this particular segment of the population, laid off workers in their late 50’s to early 60’s, are hit especially hard. Many of them have worked hard to diligently set money aside for their retirement, and now they are out of work, don’t have access to the usually cheaper group health insurance plans, they’re more likely to have age-related health problems, and so they end up burning through a lot of their savings paying their individual monthly premiums, and all their deductibles – JUST BECAUSE THERE IS STILL NO TRULY FUNCTIONING SOLUTION FOR THEM!!!

And if this latest development is the sign of things to come, if the entire Healthcare Reform Act is going to go through hiccups like this all the time, what are seniors who are not yet eligible for Medicare to do? Think about it… Paying $800 – $900 per MONTH in premiums, add some co-pays for prescription medication, add co-pays for doctor’s visits, and over just a couple of years, this adds up to tens of thousands of dollars!! And on top of that, they can’t even find decent jobs anymore because companies (not openly of course) don’t like to hire people near retirement. What, are they supposed to do during retirement…? Survive on Social Security alone and eat cat food? Honestly, I think it’s a disgrace that Washington didn’t make healthcare solutions for this group of people a priority. What can we do for them NOW so that they can retain as much of their savings as possible to stay self-sufficient in retirement!? When is the big news on that, ADMISTRATION!?

I know we all have loved ones that are going through this and sometimes it makes me so angry that we are basically powerless to help them! So many are taking money out of their retirement funds just to pay for healthcare…Money they’ll definitely need in retirement! Well, what happens when they retire!? Is social security going to cover what they had to spend down, is the government? Of course not!

So my advice is to SAVE, SAVE, SAVE, as much money as you can while you are working, and then SAVE some more. Because no one but YOU cares or can take of you except yourself!

If you are thinking that you are either too young, too old, or don’t need life insurance at this point in your life, well, I must urge you to reconsider. Unfortunately, for most it is too late when a loved one passes away, leaving the family burdened with all of the funeral expenses, and scrambling to make ends meet.

BUT, if you are among the prepared class that has already taken the necessary steps and signed up for life insurance, you can rest assured that your family will be taken care of in the event of a loss.

…The answer to peace of mind is quite simple: You need life insurance!

Warning: If you already have life insurance, don’t think you’re out of the woods just yet! Remember, you must review and make the appropriate changes as circumstances in your life change! Don’t allow yourself to be blindsided by a policy that is not the right fit for your needs!

The major reason for purchasing life insurance is to guarantee the continued financial support of loved ones who depend on you!!

HERE ARE 6 REASONS YOU MIGHT NEED LIFE INSURANCE

✔ To replace your ability to earn income
✔ To replace your ability to care for others
✔ To pay for expenses arising as a result of death
✔ To provide for special business needs
✔ To fund a charitable interest
✔ To provide supplemental income for later in life

Don’t know how to tackle life insurance? How much you need? What plan would protect your loved ones? Let us help you! Click Here!

FUN FACT ABOUT LIFE INSURANCE: DID YOU KNOW??

Apollo astronauts used autographs as life insurance!

Apollo mission astronauts had it tough when it came to life insurance. NASA didn’t cover them, and traditional life insurance companies did not want to insure them either. The risks were just too high for traditional insurance.
What did they do? They signed autographs!

NASA created a series of “Insurance Covers,” which looked like post cards commemorating whatever Apollo mission they were going on. They would give some to each crewmember, who would sign all of them. The crewmembers would then give the insurance covers to their families as close to launch as possible. The value of these cards would be pretty high by itself. In the tragic case they didn’t return, however, the value of these cards would go up immensely. This way, their families could sell them and be able to provide for themselves!!

MORAL OF THE STORY: LIFE INSURANCE IS IMPORTANT!!

Interestingly enough, it has been said that more than 95 million US adults don’t have life insurance. We hope this will help you realize just how important coverage is!!

You never know what life has in store for you… Protect yourself and your loved ones from unexpected circumstances and unforeseen events!!

Have a question? Reach out to us! Click here and let us know!

Just wishing a Happy Mother’s Day to supermoms everywhere!