Do I Need Disability Insurance?
Most of us are aware of the need for medical coverage, but we often neglect disability when determining our insurance needs. Disability insurance helps replace income lost because of an accident or illness. Few of us would have an adequate “war chest” for an extended battle with a loss of income.
Unfortunately, many of us will need disability income protection some time before we die. For people aged 45, two out of five will be disabled for more than 90 days before they reach age 65.1 Without disability insurance protection, a disability could spell financial disaster.
Disability at any age can disrupt income while medical expenses deplete your savings. Unless you have a battle plan, the effects of even a short-term disability can be financially and emotionally devastating.
Disability Protection
Disability insurance provides a financial safety net. In the event you experience a disability, the benefits provided by disability insurance effectively replace a portion of your earned income. Disability coverage can prove to be invaluable. And in many cases, disability insurance should be considered before taking steps to achieve other financial goals.
Designing a Disability Protection Plan
Appropriate disability coverage depends on your particular situation. However, there are a few issues you may want to consider.
First, consider carrying enough coverage to replace at least 60 percent of your earnings. Many companies limit benefits to between 50 percent and 80 percent from all sources of disability income prior to the disability. This would mean, for example, that the amount of any Social Security disability payments you receive would be deducted from your benefit amount. Remember, private disability benefits are usually tax-free.
Consider extending the time between when the disability occurs and when you start receiving benefits. Choosing a 90- or 180-day waiting period instead of a 30-day waiting period can lower your cost substantially.
Be sure to compare and review policy benefits carefully. Disability insurance can be an affordable alternative — an alternative many people can’t afford to be without.
Source: 1. 2005 Field Guide, National Underwriter Company, 2005
© 2006 Emerald Publications
• Principal Financial Group,
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
• Phone: (952) 277-4259Toll Free: 800 277-7095
• Fax: (952) 277-4301
• www.joeswanson.com
• swanson.joe@principal.com
PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of these web-sites provided here, you are leaving this site. Princor makes no representation as to the completeness or accuracy of information provided at these sites. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising
Joe Swanson is licensed in Minnesota Wisconsin Oregon and Ohio (additional states can be made available) to offer insurance products, and life insurance (including variable life), annuities (including variable annuities), securities and if applicable - investment advice. This site is not a solicitation of interest in any of these products in any other state. IMPORTANT CONSUMER INFORMATION: Joe Swanson may only transact business in a particular state after licensure or satisfying qualifications requirements of that state, or only if (s)he is excluded or exempted from the state's registration requirements. Follow-up, individualized responses to consumers in a particular state by Joe Swanson that involve either the effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, as the case may be, shall not be made without first complying with the state's requirements, or pursuant to an applicable state exemption or exclusion. For information concerning the licensure status or disciplinary history of a broker-dealer, investment advisor, BD agent or IA representative or any financial institution (s)he represents, contact your state securities law administrator. Principal Life Insurance Company, Des Moines, IA 50392. Principal Life maintains certificates of authority to transact insurance in all 50 states. Its NAIC identification number is
Thursday, November 23, 2006
How much life insurance do I need? from Joe Swanson.com
Click this link to decide how much life insurance you need.
http://www.joeswanson.com/content.cfm?ContentID=123
How Can My Charity and I Both Benefit from My Gift?
One popular estate planning technique is planned giving. Making a donation to a qualified organization provides some very attractive benefits.
You could receive an immediate income tax deduction. With a properly structured gift, you could realign your investment portfolio without paying capital gains tax on appreciated property. Another strategy may allow you to pass your estate on to your children while avoiding both probate and estate taxes.
To Whom Can You Give?
You’re free to give your property to whomever you choose. To retain the tax advantages associated with planned giving, however, your gift must be made to a qualified organization.
The vast majority of donations are made to charitable organizations. To qualify, a charitable organization must have been organized in the United States, be operated on a strictly non-profit basis, and not be politically active.
In addition to common charitable organizations, you may give to veterans’ posts, certain fraternal orders, volunteer fire departments, and civil defense organizations.
What Can You Give?
You can contribute almost anything to a qualified organization. The deduction limits are more restrictive for gifts other than cash, but you are free to give almost any property of value.
What Are the Gifting Strategies?
In addition to making an outright donation, there are a number of different gifting techniques you can use.
You can give life insurance. This enables you to give a large future gift at a relatively modest cost.
A charitable remainder trust allows you to retain an income interest in a future gift. With a charitable lead trust, you can give the income to the charitable organization and retain the principal for your heirs.
What Are the Benefits?
Making a planned gift can provide some significant benefits.
A charitable contribution may qualify you to receive a significant current income tax deduction.
Your deduction for an outright gift will equal the value of your gift up to certain generous limits. You can carry forward any gift amount that exceeds these limits for up to five years.
With a charitable lead trust, you can pass an appreciated asset onto your heirs with little or no estate taxes.
By using a charitable remainder trust, the Trustee can sell highly appreciated gifted investments and reinvest the proceeds to generate income without paying capital gains tax. Thus, a properly planned gift could enable you to realign your investment portfolio without incurring any current income taxes. That could allow you to diversify your holdings and even increase your cash flow.
The only thing you can’t do is take back your gift. You can’t start selling assets and then pocket the money. But you can change the charity that will eventually receive your gift.
Whatever gifting strategy you choose, planned giving can be very rewarding. It’s wonderful to see your gift at work and to receive tax benefits as well.
The information provided here is to assist you in planning for your future. Any analysis is a result of the information you have provided. Proper tax and legal advice should always be obtained.
© 2006 Emerald Publications
Joe Swanson, Minnesota Financial Advisor.
401k, ESOP, 403B, Investments, Insurance
• Principal Financial Group,
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
• Phone: (952) 277-4259Toll Free: 800 277-7095
• Fax: (952) 277-4301
• www.joeswanson.com
• swanson.joe@principal.com
PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of these web-sites provided here, you are leaving this site. Princor makes no representation as to the completeness or accuracy of information provided at these sites. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising
Joe Swanson is licensed in Minnesota Wisconsin Oregon and Ohio (additional states can be made available) to offer insurance products, and life insurance (including variable life), annuities (including variable annuities), securities and if applicable - investment advice. This site is not a solicitation of interest in any of these products in any other state. IMPORTANT CONSUMER INFORMATION: Joe Swanson may only transact business in a particular state after licensure or satisfying qualifications requirements of that state, or only if (s)he is excluded or exempted from the state's registration requirements. Follow-up, individualized responses to consumers in a particular state by Joe Swanson that involve either the effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, as the case may be, shall not be made without first complying with the state's requirements, or pursuant to an applicable state exemption or exclusion. For information concerning the licensure status or disciplinary history of a broker-dealer, investment advisor, BD agent or IA representative or any financial institution (s)he represents, contact your state securities law administrator. Principal Life Insurance Company, Des Moines, IA 50392. Principal Life maintains certificates of authority to transact insurance in all 50 states. Its NAIC identification number is 61271
http://www.joeswanson.com/content.cfm?ContentID=123
How Can My Charity and I Both Benefit from My Gift?
One popular estate planning technique is planned giving. Making a donation to a qualified organization provides some very attractive benefits.
You could receive an immediate income tax deduction. With a properly structured gift, you could realign your investment portfolio without paying capital gains tax on appreciated property. Another strategy may allow you to pass your estate on to your children while avoiding both probate and estate taxes.
To Whom Can You Give?
You’re free to give your property to whomever you choose. To retain the tax advantages associated with planned giving, however, your gift must be made to a qualified organization.
The vast majority of donations are made to charitable organizations. To qualify, a charitable organization must have been organized in the United States, be operated on a strictly non-profit basis, and not be politically active.
In addition to common charitable organizations, you may give to veterans’ posts, certain fraternal orders, volunteer fire departments, and civil defense organizations.
What Can You Give?
You can contribute almost anything to a qualified organization. The deduction limits are more restrictive for gifts other than cash, but you are free to give almost any property of value.
What Are the Gifting Strategies?
In addition to making an outright donation, there are a number of different gifting techniques you can use.
You can give life insurance. This enables you to give a large future gift at a relatively modest cost.
A charitable remainder trust allows you to retain an income interest in a future gift. With a charitable lead trust, you can give the income to the charitable organization and retain the principal for your heirs.
What Are the Benefits?
Making a planned gift can provide some significant benefits.
A charitable contribution may qualify you to receive a significant current income tax deduction.
Your deduction for an outright gift will equal the value of your gift up to certain generous limits. You can carry forward any gift amount that exceeds these limits for up to five years.
With a charitable lead trust, you can pass an appreciated asset onto your heirs with little or no estate taxes.
By using a charitable remainder trust, the Trustee can sell highly appreciated gifted investments and reinvest the proceeds to generate income without paying capital gains tax. Thus, a properly planned gift could enable you to realign your investment portfolio without incurring any current income taxes. That could allow you to diversify your holdings and even increase your cash flow.
The only thing you can’t do is take back your gift. You can’t start selling assets and then pocket the money. But you can change the charity that will eventually receive your gift.
Whatever gifting strategy you choose, planned giving can be very rewarding. It’s wonderful to see your gift at work and to receive tax benefits as well.
The information provided here is to assist you in planning for your future. Any analysis is a result of the information you have provided. Proper tax and legal advice should always be obtained.
© 2006 Emerald Publications
Joe Swanson, Minnesota Financial Advisor.
401k, ESOP, 403B, Investments, Insurance
• Principal Financial Group,
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
• Phone: (952) 277-4259Toll Free: 800 277-7095
• Fax: (952) 277-4301
• www.joeswanson.com
• swanson.joe@principal.com
PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of these web-sites provided here, you are leaving this site. Princor makes no representation as to the completeness or accuracy of information provided at these sites. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising
Joe Swanson is licensed in Minnesota Wisconsin Oregon and Ohio (additional states can be made available) to offer insurance products, and life insurance (including variable life), annuities (including variable annuities), securities and if applicable - investment advice. This site is not a solicitation of interest in any of these products in any other state. IMPORTANT CONSUMER INFORMATION: Joe Swanson may only transact business in a particular state after licensure or satisfying qualifications requirements of that state, or only if (s)he is excluded or exempted from the state's registration requirements. Follow-up, individualized responses to consumers in a particular state by Joe Swanson that involve either the effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, as the case may be, shall not be made without first complying with the state's requirements, or pursuant to an applicable state exemption or exclusion. For information concerning the licensure status or disciplinary history of a broker-dealer, investment advisor, BD agent or IA representative or any financial institution (s)he represents, contact your state securities law administrator. Principal Life Insurance Company, Des Moines, IA 50392. Principal Life maintains certificates of authority to transact insurance in all 50 states. Its NAIC identification number is 61271
http://www.joeswanson.com/location.cfm
http://www.joeswanson.com/location.cfm
Contact Joe Swanson, CRPS at www.joeswanson.com
swanson.joe@joeswanson.com
952 277 4259
Contact Joe Swanson, CRPS at www.joeswanson.com
swanson.joe@joeswanson.com
952 277 4259
Sunday, November 19, 2006
Find a Minnesota Fee Based Financial Planner or a Minnesota Fee Based Financial Advisor
Find a Minnesota Fee Based Financial Planner or a Minnesota Fee Based Financial Advisor
I would try a financial advisor search in your state. Try the links below for more information! Here are 5 questions to ask:
Did they own a business before becoming an advisor
Do they work with a team
How often will they meet with you (should be at least once a year for plans and willing to meet once a qtr for fee-based money management.
Try the links below for a fee based planner in Minnesota, and other states.
http://www.wiseradvisor.com/advisor_az_zip_submit~advisor1~16691.asp
www.joeswanson.com
To contact us http://www.joeswanson.com/location.cfm
Minnesota Financial Planner Minnesota Financial Advisor
This information should be correct the day it is posted
I would try a financial advisor search in your state. Try the links below for more information! Here are 5 questions to ask:
Did they own a business before becoming an advisor
Do they work with a team
How often will they meet with you (should be at least once a year for plans and willing to meet once a qtr for fee-based money management.
Try the links below for a fee based planner in Minnesota, and other states.
http://www.wiseradvisor.com/advisor_az_zip_submit~advisor1~16691.asp
www.joeswanson.com
To contact us http://www.joeswanson.com/location.cfm
Minnesota Financial Planner Minnesota Financial Advisor
This information should be correct the day it is posted
Saturday, November 18, 2006
Home Research Articles Types of Health Care
Home → Research Articles → Types of Health Care
What Types of Health Coverage Are Available?
Although many people take the necessary steps to ensure good health, it’s easy to take your health for granted. Yet the possibility of having to endure a lifelong illness or the loss of normal body functions does exist. And today, health problems can often mean high medical costs.
Staggering health-care costs have driven both the demand for and the price of medical insurance sky high. The availability of group coverage through employment has helped many Americans face such costs. However, people who are not currently covered by an employer have few affordable sources for group coverage. If you are not covered at work, inquire about coverage through your religious organization, professional organizations, or alumni association.
Individuals seeking medical coverage on their own can rely on an individual policy. And if you’re elderly, you can also rely to a limited degree on the benefits provided under Medicare.
Basic
Basic health-care insurance covers hospital room and board, medical equipment and supplies, regular health-care services, and sometimes outpatient care, up to a specified limit. Unfortunately, it is not considered adequate medical coverage. The maximum benefit is not high enough to cover a long-term or catastrophic illness. And the benefits do not keep up with rapidly rising medical costs. Many advisors recommend adding a supplementary major medical plan or upgrading basic coverage to a comprehensive plan.
Major Medical
Major medical covers health-care costs after a high deductible has been met. After this, the insurer and the patient share medical costs, with the insurer usually bearing 70 to 80 percent of the expense, while the remaining portion, called coinsurance, is paid by the insured. Coinsurance is usually limited to a certain dollar amount, after which the insurer pays 100 percent. If major medical coverage with a low maximum benefit is offered by an employer, you can also purchase an excess major medical coverage policy to supplement the benefits of the company policy.
Comprehensive Medical
Comprehensive medical insurance combines basic coverage with a major medical plan. This eliminates the paperwork involved in having several health plans and may also reduce out-of-pocket costs because you have to satisfy only one deductible. The maximum benefit is specified in the policy. Be sure to review policy features carefully. In order to help keep premiums within reach, you may want to consider a deductible at the dollar amount for which you can safely self-insure. Remember, the cost and availability of an individual health insurance policy can depend on factors such as age, health (pre-existing conditions), and the type and amount of insurance purchased. In addition, a physical examination may be required.
Medicare
Medicare is the U.S. government’s health-care insurance program for the elderly. It is available to people aged 65 and older as well as certain disabled persons.
Part A, hospital insurance, provides basic coverage for hospital care as well as limited skilled nursing and home health care.
Part B, supplementary medical insurance, costs $88.50 per month. It covers 80 percent of reasonable health-care costs after a $100-per-year deductible has been satisfied.
© 2006 Emerald Publications
print this page
• Principal Financial Group,
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
• Phone: (952) 277-4259Toll Free: 800 277-7095
• Fax: (952) 277-4301
• www.joeswanson.com
• swanson.joe@principal.com
PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of these web-sites provided here, you are leaving this site. Princor makes no representation as to the completeness or accuracy of information provided at these sites. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising
Joe Swanson is licensed in Minnesota Wisconsin Oregon and Ohio (additional states can be made available) to offer insurance products, and life insurance (including variable life), annuities (including variable annuities), securities and if applicable - investment advice. This site is not a solicitation of interest in any of these products in any other state. IMPORTANT CONSUMER INFORMATION: Joe Swanson may only transact business in a particular state after licensure or satisfying qualifications requirements of that state, or only if (s)he is excluded or exempted from the state's registration requirements. Follow-up, individualized responses to consumers in a particular state by Joe Swanson that involve either the effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, as the case may be, shall not be made without first complying with the state's requirements, or pursuant to an applicable state exemption or exclusion. For information concerning the licensure status or disciplinary history of a broker-dealer, investment advisor, BD agent or IA representative or any financial institution (s)he represents, contact your state securities law administrator. Principal Life Insurance Company, Des Moines, IA 50392. Principal Life maintains certificates of authority to transact insurance in all 50 states. Its NAIC identification number is 61271.
Privacy Policy
http://www.wiseradvisor.com/advisor_az_zip_submit~advisor1~16691.asp
www.joeswanson.com
To contact us http://www.joeswanson.com/location.cfm
Minnesota Financial Planner Minnesota Financial Advisor
This information should be correct the day it is posted
What Types of Health Coverage Are Available?
Although many people take the necessary steps to ensure good health, it’s easy to take your health for granted. Yet the possibility of having to endure a lifelong illness or the loss of normal body functions does exist. And today, health problems can often mean high medical costs.
Staggering health-care costs have driven both the demand for and the price of medical insurance sky high. The availability of group coverage through employment has helped many Americans face such costs. However, people who are not currently covered by an employer have few affordable sources for group coverage. If you are not covered at work, inquire about coverage through your religious organization, professional organizations, or alumni association.
Individuals seeking medical coverage on their own can rely on an individual policy. And if you’re elderly, you can also rely to a limited degree on the benefits provided under Medicare.
Basic
Basic health-care insurance covers hospital room and board, medical equipment and supplies, regular health-care services, and sometimes outpatient care, up to a specified limit. Unfortunately, it is not considered adequate medical coverage. The maximum benefit is not high enough to cover a long-term or catastrophic illness. And the benefits do not keep up with rapidly rising medical costs. Many advisors recommend adding a supplementary major medical plan or upgrading basic coverage to a comprehensive plan.
Major Medical
Major medical covers health-care costs after a high deductible has been met. After this, the insurer and the patient share medical costs, with the insurer usually bearing 70 to 80 percent of the expense, while the remaining portion, called coinsurance, is paid by the insured. Coinsurance is usually limited to a certain dollar amount, after which the insurer pays 100 percent. If major medical coverage with a low maximum benefit is offered by an employer, you can also purchase an excess major medical coverage policy to supplement the benefits of the company policy.
Comprehensive Medical
Comprehensive medical insurance combines basic coverage with a major medical plan. This eliminates the paperwork involved in having several health plans and may also reduce out-of-pocket costs because you have to satisfy only one deductible. The maximum benefit is specified in the policy. Be sure to review policy features carefully. In order to help keep premiums within reach, you may want to consider a deductible at the dollar amount for which you can safely self-insure. Remember, the cost and availability of an individual health insurance policy can depend on factors such as age, health (pre-existing conditions), and the type and amount of insurance purchased. In addition, a physical examination may be required.
Medicare
Medicare is the U.S. government’s health-care insurance program for the elderly. It is available to people aged 65 and older as well as certain disabled persons.
Part A, hospital insurance, provides basic coverage for hospital care as well as limited skilled nursing and home health care.
Part B, supplementary medical insurance, costs $88.50 per month. It covers 80 percent of reasonable health-care costs after a $100-per-year deductible has been satisfied.
© 2006 Emerald Publications
print this page
• Principal Financial Group,
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
• Phone: (952) 277-4259Toll Free: 800 277-7095
• Fax: (952) 277-4301
• www.joeswanson.com
• swanson.joe@principal.com
PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of these web-sites provided here, you are leaving this site. Princor makes no representation as to the completeness or accuracy of information provided at these sites. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising
Joe Swanson is licensed in Minnesota Wisconsin Oregon and Ohio (additional states can be made available) to offer insurance products, and life insurance (including variable life), annuities (including variable annuities), securities and if applicable - investment advice. This site is not a solicitation of interest in any of these products in any other state. IMPORTANT CONSUMER INFORMATION: Joe Swanson may only transact business in a particular state after licensure or satisfying qualifications requirements of that state, or only if (s)he is excluded or exempted from the state's registration requirements. Follow-up, individualized responses to consumers in a particular state by Joe Swanson that involve either the effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, as the case may be, shall not be made without first complying with the state's requirements, or pursuant to an applicable state exemption or exclusion. For information concerning the licensure status or disciplinary history of a broker-dealer, investment advisor, BD agent or IA representative or any financial institution (s)he represents, contact your state securities law administrator. Principal Life Insurance Company, Des Moines, IA 50392. Principal Life maintains certificates of authority to transact insurance in all 50 states. Its NAIC identification number is 61271.
Privacy Policy
http://www.wiseradvisor.com/advisor_az_zip_submit~advisor1~16691.asp
www.joeswanson.com
To contact us http://www.joeswanson.com/location.cfm
Minnesota Financial Planner Minnesota Financial Advisor
This information should be correct the day it is posted
What Is the Difference Between an HMO and a PPO?
What Is the Difference Between an HMO and a PPO?
Since the ’70s, the market has shifted from traditional fee-for-service health insurers to health maintenance organizations (HMOs) and preferred provider organizations (PPOs). HMOs and PPOs can cost much less than comprehensive individual policies.
An HMO provides comprehensive health care services to the insured for a fixed periodic payment. There may also be a nominal fee paid for each visit to a health care provider. Unlike traditional insurance, HMOs actually provide the health care rather than just making payments to health care providers. HMOs can have a variety of relationships with hospitals and physicians. Plan physicians may be salaried employees, members of one independent multi-specialty group, part of a network of independent multi-specialty groups, or part of an individual practice association.
Because HMOs integrate health care providers with insurance, they are able to provide improved health care delivery. This unique relationship allows the HMOs to maintain a lower cost of service from plan providers. Because HMOs are provider and insurer, this allows for lower administrative costs and paperwork for the patient.
Through the use of managed care, HMOs and PPOs are able to bring down the costs of hospitals and physicians. Managed care is a set of incentives and disincentives for your physicians to limit what the HMOs and PPOs consider unnecessary tests and procedures. Managed care generally requires the consent of your primary care physician before you can see a specialist.
HMOs also try to bring down costs by providing preventive care. Because visits to primary care physicians are inexpensive, this increases the chance of early detection and care.
Preferred provider organizations have also contracted with hospitals and physicians to provide you with health care services. Unlike an HMO, you do not have to go to these physicians. However, you will pay more if you go outside the list of preferred providers. In a PPO plan, you will usually have a deductible, which is the amount that the insured must pay before the PPO begins to pay. When the PPO plan does start to pay, it will usually pay a percentage of the bill and you have to pay the rest, which is called coinsurance. Most plans will have an out-of-pocket maximum. This will protect you from paying more than a certain amount per year. After you pass this amount, the coinsurance percentage increases to 100 percent.
The out-of-pocket maximum, deductible, and coinsurance will each affect the cost of the PPO insurance coverage. You can lower your premiums by having as high of a deductible as you can afford to pay.
© 2006 Emerald Publications
print this page
• Principal Financial Group,
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
• Phone: (952) 277-4259Toll Free: 800 277-7095
• Fax: (952) 277-4301
• www.joeswanson.com
• swanson.joe@principal.com
PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of these web-sites provided here, you are leaving this site. Princor makes no representation as to the completeness or accuracy of information provided at these sites. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising
Joe Swanson is licensed in Minnesota Wisconsin Oregon and Ohio (additional states can be made available) to offer insurance products, and life insurance (including variable life), annuities (including variable annuities), securities and if applicable - investment advice. This site is not a solicitation of interest in any of these products in any other state. IMPORTANT CONSUMER INFORMATION: Joe Swanson may only transact business in a particular state after licensure or satisfying qualifications requirements of that state, or only if (s)he is excluded or exempted from the state's registration requirements. Follow-up, individualized responses to consumers in a particular state by Joe Swanson that involve either the effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, as the case may be, shall not be made without first complying with the state's requirements, or pursuant to an applicable state exemption or exclusion. For information concerning the licensure status or disciplinary history of a broker-dealer, investment advisor, BD agent or IA representative or any financial institution (s)he represents, contact your state securities law administrator. Principal Life Insurance Company, Des Moines, IA 50392. Principal Life maintains certificates of authority to transact insurance in all 50 states. Its NAIC identification number is 61271.
Privacy Policy
http://www.wiseradvisor.com/advisor_az_zip_submit~advisor1~16691.asp
www.joeswanson.com
To contact us http://www.joeswanson.com/location.cfm
Minnesota Financial Planner Minnesota Financial Advisor
This information should be correct the day it is posted
Since the ’70s, the market has shifted from traditional fee-for-service health insurers to health maintenance organizations (HMOs) and preferred provider organizations (PPOs). HMOs and PPOs can cost much less than comprehensive individual policies.
An HMO provides comprehensive health care services to the insured for a fixed periodic payment. There may also be a nominal fee paid for each visit to a health care provider. Unlike traditional insurance, HMOs actually provide the health care rather than just making payments to health care providers. HMOs can have a variety of relationships with hospitals and physicians. Plan physicians may be salaried employees, members of one independent multi-specialty group, part of a network of independent multi-specialty groups, or part of an individual practice association.
Because HMOs integrate health care providers with insurance, they are able to provide improved health care delivery. This unique relationship allows the HMOs to maintain a lower cost of service from plan providers. Because HMOs are provider and insurer, this allows for lower administrative costs and paperwork for the patient.
Through the use of managed care, HMOs and PPOs are able to bring down the costs of hospitals and physicians. Managed care is a set of incentives and disincentives for your physicians to limit what the HMOs and PPOs consider unnecessary tests and procedures. Managed care generally requires the consent of your primary care physician before you can see a specialist.
HMOs also try to bring down costs by providing preventive care. Because visits to primary care physicians are inexpensive, this increases the chance of early detection and care.
Preferred provider organizations have also contracted with hospitals and physicians to provide you with health care services. Unlike an HMO, you do not have to go to these physicians. However, you will pay more if you go outside the list of preferred providers. In a PPO plan, you will usually have a deductible, which is the amount that the insured must pay before the PPO begins to pay. When the PPO plan does start to pay, it will usually pay a percentage of the bill and you have to pay the rest, which is called coinsurance. Most plans will have an out-of-pocket maximum. This will protect you from paying more than a certain amount per year. After you pass this amount, the coinsurance percentage increases to 100 percent.
The out-of-pocket maximum, deductible, and coinsurance will each affect the cost of the PPO insurance coverage. You can lower your premiums by having as high of a deductible as you can afford to pay.
© 2006 Emerald Publications
print this page
• Principal Financial Group,
• 11100 Wayzata Blvd, Suite 161
• Minnetonka, MN
• 55305
• Phone: (952) 277-4259Toll Free: 800 277-7095
• Fax: (952) 277-4301
• www.joeswanson.com
• swanson.joe@principal.com
PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of these web-sites provided here, you are leaving this site. Princor makes no representation as to the completeness or accuracy of information provided at these sites. Nor is the company liable for any direct or indirect technical or system issues or any consequences arising
Joe Swanson is licensed in Minnesota Wisconsin Oregon and Ohio (additional states can be made available) to offer insurance products, and life insurance (including variable life), annuities (including variable annuities), securities and if applicable - investment advice. This site is not a solicitation of interest in any of these products in any other state. IMPORTANT CONSUMER INFORMATION: Joe Swanson may only transact business in a particular state after licensure or satisfying qualifications requirements of that state, or only if (s)he is excluded or exempted from the state's registration requirements. Follow-up, individualized responses to consumers in a particular state by Joe Swanson that involve either the effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, as the case may be, shall not be made without first complying with the state's requirements, or pursuant to an applicable state exemption or exclusion. For information concerning the licensure status or disciplinary history of a broker-dealer, investment advisor, BD agent or IA representative or any financial institution (s)he represents, contact your state securities law administrator. Principal Life Insurance Company, Des Moines, IA 50392. Principal Life maintains certificates of authority to transact insurance in all 50 states. Its NAIC identification number is 61271.
Privacy Policy
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Minnesota Financial Planner Minnesota Financial Advisor
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Minnesota Financial Advisor
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This information should be correct the day it is posted
Do I Need A Financial Advisor?
Do I Need A Financial Advisor? Let's start with a more fundamental question: how much can I improve my financial situation? You might be thinking, "I have a good salary, I pay my bills on time, I know how to do my taxes, I have insurance... I'm handling my finances pretty well; spending time and money on financial planning is not worth it for me." Many people think this way, but often it is because of a lack of awareness of financial opportunities and best practices. Indeed, time spent devising and implementing a well-researched and sound financial plan will likely yield: More money for you and your family Better preparation and flexibility for life changes Increased protection against mistakes and unexpected circumstances An investment in financial management provides peace of mind by ensuring your best odds of permanent wealth and comfort. This planned approach to success is the result of a multi-step process. You must: Set achievable financial and personal goals Assess your current financial health by examining your assets, liabilities, income, insurance, taxes, investments and estate plan Develop a realistic, comprehensive plan to meet your financial goals by addressing financial weaknesses and building on financial strengths Put your plan into action and monitor its progress Revise your plan to accommodate changing goals, changing personal circumstances, changing financial opportunities, and changing market and tax laws The planning process requires skill, knowledge, diligence, and discipline, but great reward makes it well worth the time and effort. Can I do it on my own? The question is, do you need professional help in order to design and stick to an effective financial plan? To some degree, this depends on your unique situation, but most will find that they are better off seeking the information, expertise, experience, and discipline provided by a financial advisor. Making quality financial decisions requires an ample commitment to learn and research. While the Internet's easy access to information has helped to make it feasible for individuals to independently manage their finances, the magnitude of investment skills and information that you need can be overwhelming. The financial world is filled with foreign concepts, esoteric language, legal rules, and difficult methodologies. Whether you want to develop a portfolio, plan for retirement, pay for college, or reach any other major financial goal, there are professionals who have spent their careers serving people with the same concern, and it is a good idea to take advantage of their experience. For the purpose of analogy, consider the manufacturing of televisions. Since they make so many televisions, Sony has grown to be good at it. They can make a high-quality television for a just a few hundred dollars. Consider how much it would cost you to make your own television; you might be able to do it, but it would take a huge commitment of time and money to learn the science, purchase the materials, and execute the necessary procedures. And the finished product would likely be shabby in comparison. Financial decision-making is the same. You can make financial decisions by yourself or buy advice from an experienced professional. The financial decisions of individuals are commonly costly and mediocre, and, alternatively, the appropriate financial professional will make good decisions for you at a comparatively low cost. What will I get from a financial advisor? Professional financial help goes far beyond picking stocks. Hiring an advisor arms you with expertise and resources with which to approach planning your financial future. This coaching and support can help you to smoothly endure and make the most of the circumstances in your life - career, marriage, children, assets, liabilities, etc. Specifically, financial professionals can help to: Avoid costly mistakes, manage risk, save time, and improve your overall investment results. Guide you through the maze of retirement options -- 401(k), IRA, Roth IRA, pensions, annuities, Keoghs, etc -- and can put you on course to have the type of retirement you've always dreamed of. Decrease your estate tax liability, thereby aiding the financial stability of your loved ones. Reach your education savings goals through 529 Plans, Coverdell savings accounts, and other techniques. Determine the type and amount of insurance you need to protect yourself, your family, and your assets. Minimize your taxes, file your tax returns, and plan to reduce future tax impact. If you own a business, develop a strategy to manage your business finances, including cash management, financing, employee benefits, and corporate taxes.Furthermore, a financial professional provides the emotional discipline required to make sure plans are acted upon. S/he provides guidance, reassurance, support and stability to help you stay on course and reach your long-term goals. Okay, so I'd benefit from an advisor - what now? Choosing an advisor is a crucial aspect of planning your financial future. Hiring an advisor that is not well-suited to your needs is a danger that must be avoided through sound research. The purpose of WiserAdvisor is to streamline this daunting task by quickly and efficiently matching your preferences to reputable advisors that are ideally suited to your needs.
http://www.wiseradvisor.com/advisor_az_zip_submit~advisor1~16691.asp
www.joeswanson.com
To contact us http://www.joeswanson.com/location.cfm
Minnesota Financial Planner Minnesota Financial Advisor
This information should be correct the day it is posted
http://www.wiseradvisor.com/advisor_az_zip_submit~advisor1~16691.asp
www.joeswanson.com
To contact us http://www.joeswanson.com/location.cfm
Minnesota Financial Planner Minnesota Financial Advisor
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IndividualHealthPolicyMinnesota
IndividualHealthPolicyMinnesota
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Minnesota Financial Planner Minnesota Financial Advisor
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You can purchase health insurance in Minnesota joe swanson www.joeswanson.com 952 277 4259
http://www.wiseradvisor.com/advisor_az_zip_submit~advisor1~16691.asp
www.joeswanson.com
To contact us http://www.joeswanson.com/location.cfm
Minnesota Financial Planner Minnesota Financial Advisor
This information should be correct the day it is posted
You can purchase health insurance in Minnesota joe swanson www.joeswanson.com 952 277 4259
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