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CHANGING PARTNERS

October 15, 2007

Who Will be Your New Partner. That’s an interesting question. If you are an owner in a small business that is a partnership or a closely held corporation, ask yourself “would I want to be in partnership with my partners spouse or their offspring? The answer is more than likely no. However this would most certainly be the case in the untimely death of a partner or shareholder of your business.  There is an answer to this very real circumstance. It is known as a “Buy Sell Agreement”. It is an agreement whereby the value of the business is determined and a life insurance policy is owned by the company to buy out the heirs of the deceased partner or shareholder. It is a common practice and easy to set up. There are other benefits that make it a viable plan.  Just think about the problems that could arise from the loss of a partner.    

Tags: buy sell agreement


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Be Aware of What You Really Owe

October 14, 2007

On two separate occasions I have been billed for medical services that I did not owe.

I have medicare and have enrolled in a an Advantage Plan C. with a built in drug plan D. It is an HMO and I have had no problems in getting referals to any Dr. that my primary physician has refered me to. The problem has not been with the Insurance Co. but rather the hospital provider.

I had occasion to go to the emergency room, of the approved hospital in the network,  back in june of 2007. My plan calls for a $40.00 co-pay for which I was never billed. The following month, however I recieved a bill from the attendending ER doctor that was for $394.00. The The group the Dr was with was not as it turned out part of the network. They had been paid $154.00 by the insurance co and were billing me for the rest. I had followed the insurance company contract to go to a network provider and felt that if the hospital had doctors that were not part of my plan than it was the hospitals problem not mine. After no less than twelve phone calls...

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Tags: annunities, cronic illness, evercare, final expense, life insurance, long term care, medical, medicare, prescription drug plans, supplements


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