Month: November 2023
The health insurance exchange navigator program has come to be seen as a life savior for the Obama administration after the healthcare.gov fiasco. With a crumbling website and all hands dedicated to keeping it from falling, the health insurance exchange navigators are making sure that people are able to go through the enrollment process. Some navigators are also utilizing the skills gained through the exchange navigator program and helping people with paper applications, especially when the online applications fail. In a nutshell, the millions of dollars given as grants to these navigators are being put to good use in every state.
However, there is a downside to this seemingly angelic attempt by organizations to help people enroll on the marketplaces. In the last couple of weeks, it has come to the notice of the government that several criminals and shady characters are making use of the exchange navigator program to make money. There have been several cases that have demonstrated hidden agenda of working navigators, including a suggestion for applicants to lie on their profile so that they can save a few dollars on premiums. For instance, in an incident in Dallas, three navigators were fired when they were caught on video trying to advise a senior citizen to not to mention tobacco use on his application as it might lower his chances of getting subsidy and low premiums.
Another incident of New York shows the loopholes in the health insurance exchange navigator program, and how a car service company, a cupcake bakery, and a spa saloon were listed as health insurance exchange navigators. While it is not clear whether this was done intentionally, it still exposes the gaps that exist in the whole selection process.
In the light of these events, several other states have become wary of criminals and illegitimate people making use of the exchange navigator program for their hidden agendas. Florida, for instance, has made sure that since these navigators have access to SSN and tax information of applicants who utilize their assistance, all such navigators need to be checked for a criminal history, including a fingerprinting check and criminal background check. Several other states are thinking to follow suit.
However, while these measures show the administration’s vigilance in selecting the right candidates for a job that puts them closer to sensitive information, such actions could cause a severe side effect which the government cannot sustain at the moment – obstruction of navigator function. Several navigators have complained that after receiving the federal grant, they have had to go through extensive interviews again and again for verification of their credibility. While these navigators do not find this to be extremely wrong, they cite wastage of time that could be used for enrolling people, as a major concern.
Launched in March 2013, the Santander current account has been lauded by experts as the UK’s most generous current account in terms of customer rewards, according to The Daily Mail. If you are considering making the change to the Santander account, here’s what to expect in terms of risks and rewards.
The Santander account offers you cashback on purchases at a tiered system of 1-2-3. For example, the 1 stands for 1 percent cashback you receive when you use the Santander card to pay water and council tax bills. The 2 stands for 2 percent cash back on electricity and gas bills while the 3 percent stands for cashback on bills paid to mobile, home phone, broadband and on-demand television packages. You can set the account up as either a single or joint account based on your and your partner’s unique needs.
The 1-2-3 comes into play in another way. You also earn interest based on the amount of money you keep in the account on a monthly basis. For example, if you keep 1,000 or more in the Santander account, you earn 1 percent interest on this amount. If you carry a balance of 2,000 or more, you will earn 2 percent interest each month. When your funds exceed 20,000, you will earn 3 percent interest for your account balance, which is the maximum interest rate you can earn with the Santander account.
If you are curious if you could benefit from the Santander account, visit the company’s website at Santander.co.uk and go to the 123 Santander page. In the “What You Get” area, there is a cashback calculator. This allows you to put in your typical utility bill information to determine how much money you could get back. You also can view a list of utility providers to ensure your provider is a member of the cashback awards program.
The Fine Print
You must meet a few basic requirements to qualify for the Santander 123 card. For example, you must be older than age 18 and a permanent UK resident. In addition, you must keep a balance of at least 500 in your account and use at least two direct debits per month.
Remember that you will only earn the cashback rewards for the Santander 123 card if you have at least 1,000 in your account. If your balance drops below this amount, you will not get the cashback. To maximize the amount of interest you earn each month, follow this strategy: Keep as much money as you possibly can in your account for as many days as possible. To get the cashback rewards on your utility bills, they must be from direct debits. If you do choose to utilize direct debits, you may wish to set them all for the end of the month to maximize your interest.
You must pay a small fee to receive these benefits. The Santander card costs 2 each month to earn the cashback perks. Unlike some other cashback cards that pay once per year, the Santander card will pay cashback rewards on a monthly basis.
If the Santander 123 account does not appeal to you, but you wish to stay with the Santander company, you can choose its Everyday account, which does not offer cashback or charge a fee for holding the current account.
Making the Switch
Santander is a member of the Current Account Switch Service (CASS) that will switch your bank accounts within seven business days upon your request. The CASS system ensures you can switch your account in a hassle-free manner. If any details of the account do slip through the cracks, such as direct debits from the old account, the responsible bank must cover the costs associated with the error.
Travelers buy travel insurance with a view to make their trip safer and worry free. The common mistake that travelers make is to buy travel insurance without analyzing the coverage that the plan provides. This is not only a waste of money but can put you into serious trouble if you have to depend on the travel insurance plan on your trip. There are some common pitfalls that one must avoid while buying travel insurance. Some of them are:
Dont make false declarations
While buying a travel insurance plan you will have to speak out any existing medical conditions that you may be facing or may have faced in the past. It is very important that you make correct declaration while taking the plan. Making false declarations might save you money for now but could lead to your claim if any being rejected in the future. This is because if the insurer finds out that you were suffering from an ailment which you did not disclose, the insurance contract can be terminated.
Dont wait till the last minute
One common mistake that travelers make is to buy travel Insurance at the last minute. This can turn out to be a disaster move as the policy might not have the coverage that you require. Last minute buying will not give you time to read the fine print of the policy and determine whether it meets all your requirements. Planning your requirements in advance and choosing your travel insurance plan will also save you money. This is because you will get ample time to check and compare premiums of different service providers.
Dont break the law
The golden rule of travelling is to always abide by the laws of the country of your travel. Your travel insurance policy will not serve any purpose in case you enter into any illegal activity. The coverage of your travel insurance plan is limited to legal activities alone. The best thing to do is to check the rules and regulations of the country you are planning to visit before your travel. This will help you have a better understanding of the local rules and will help you abide by them.
Dont enter into adventure sports unless your insurance covers it
Normal travel insurance plans do not cover any hazardous or dangerous activities while on travel. Hence it is very important to plan in advance the kind of activities that you will be taking part in before you travel. If you plan to go for skydiving or paragliding make sure that you buy additional coverage for it along with your regular travel insurance plan. Sufficient coverage would be of great help in case you sustain injuries or meet with an accident while doing such activities.
Dont buy without reading the fine print
This is the most important rule of all. Never buy insurance unless you have gone through the terms and conditions mentioned in the policy. This will give you a clear close idea as to what you are covered and what you are not covered for.
These are some of the important point that can help you avoid the common pitfalls while buying travel insurance. Above all use your commonsense before signing on that dotted line.
Investopedia defines an uninsurable risk as ‘a hazard or condition that either has either a high likelihood of loss, or in which the insurance would be considered against the law.’ Many individuals applying for life insurance have been deemed uninsurable and had their application for cover declined. This article will take a closer look at some of the reasons why a life insurance company would deny an application for life cover.
While it is important to remember that each and every company has different underwriting policies, here are some of the more common reasons for denying an individual life insurance:
Pre-existing medical conditions, for example heart disease, cancer or HIV/AIDS. Note that in some cases insurers might not decline cover but might load premiums or limit cover to accidental death only, or apply a waiting period to the condition.
Age: life cover will not be granted to those under 18 or generally over 65 years of age
An insurer may not insure you if they feel you are over insured (i.e. you already have sufficient cover from other providers) or if they feel you would not be able to afford the premiums
Individuals who earn their money illegally are not considered insurable
Individuals with no so-called ‘contractual capacity’ due to mental illness, i.e. individuals who are legally not allowed to enter into a contract
Lifestyle: an insurer may deny your application for cover if you take part in dangerous sports like base jumping, sky-diving etc
Some insurers wont insure those with hazardous vocations for example policemen or paramedics
Here are a few guidelines if your cover is declined:
Speak to the life insurance company and find out why the cover was declined. Perhaps there is a solution or compromise that you can come to with the life insurance company.
Don’t give up if you are denied cover by one life insurance company. As different companies have different underwriting policies, you might be turned down by one company but granted cover by another.
Remember that certain life insurance companies may insure individuals with serious medical conditions, for example HIV positive individuals or those with Type 1 or Type 2 Diabetes.
Lastly, remember that withholding information from a life insurance company when you apply for life cover is not only illegal but it might mean that any claims your family make one day are rejected or reduced. Do not risk a reduced or rejected claim and waste years of premium payments!