January 2014 - Lakewood FinancialLakewood Financial

Are you ready for the January 15^thdeadline?

According to the Centers for Medicare and Medicaid Services, more than 6 million people have enrolled in either private insurance (through the Marketplace) or for the Medicaid program.

The Jan. 15^th deadline ensures that you can have coverage as early as February 1^stand there are 3 easy ways to enroll.

You can either enroll online, over the phone at 1-800-318-2596, or you can meet with an adviser at these local health insurance locations. You can also receive assistance in comparing plans and finding the right plan to fit your family’s needs.

If you’re going to be enrolling online, check out this link with helpful hints on how to improve your online experience.

If you’re already enrolled, make sure to check with your insurance company that you have enrolled and that you paid your first premium. If you haven’t received your member card, contact your health insurance company to make sure everything is copacetic with your account. If you don’t have the card yet and you need to go to a healthcare provider or the pharmacy, you’re still covered. Just bring a printed out copy of your enrollment confirmation page.

If you’re not going to make the Jan. 15^th deadline, don’t worry, the open enrollment period will continue until March 31^st.

Or if you have any other questions or concerns, stop by Lakewood Financial Services or give one of our expert health insurance agents a call.

With the holiday’s right behind us, most of us spent some extra time traveling and that means renting cars. Right when you’re ready to leave the rental car agency, they’ll ask you if you want to purchase rental car insurance. Did you? Was it even worth it?

Generally, there are 4 types of rental insurance. You can check out this video from the Insurance Information Institute that describes them in more detail.

Loss-damage waiver or collision damage waiver — This type of rental insurances typically waives financial responsibility if the rental car is damaged or stolen and usually costs between $9 – $19 per day.
Liability coverage — This insurance coverage protects you from potential lawsuits and usually costs between $7–$14 a day
Personal accident insurance — This type of rental car insurance covers medical costs after an accident and typically costs between $1–$5 per day
Personal effects coverage — This type of rental car insurance covers what you keep in the rental car and costs between $1–4 a day

Of these different types of rental car insurance, you’d be most likely to purchase loss-damage waiver – and it’s also the most expensive. You can save yourself a lot of money and give yourself peace of mind, by calling your local car insurance agent before you travel. If you have comprehensive and collision coverage on your car insurance policy, your insurance would extend to your rental car. You would only be responsible for the deductible and any fees from the rental company.

The National Association of Insurance Commissioners gives the following tips regarding rental car insurance.

Before renting, ask your insurance agent whether your personal auto policy covers a rental car.
Ask your credit card company what coverage it provides.
If your personal auto policy doesn’t provide rental car coverage, ask the cost of adding a rental insurance rider.
If you don’t own a car, consider buying a non-owner auto insurance policy that provides benefits in addition to rental car coverage.
If you are unclear about car rental insurance options or are concerned that a rental company is giving bad information, check with your state insurance department.

If you still have any questions, call Lakewood Financial Services at 941-747-4600 and ask to speak to one of our insurance agents.

Monthly Archives: January 2014

Jan. 15 Health Insurance Deadline

Do You Really Need Rental Car Insurance