Will Technology Rule the Future of Personal Finance?

By Brandon Burton

Will the future of personal finances be done completely through the use of technology?

The more financial problems and crises our country encounters, the more those problems affect the finances of individuals, families, and businesses in our country. Consumers have to be forced to save more, or be more efficient with their money. As it stands now, our country is at a record low for retirement contributions—USA Today recently shared data from a Wells Fargo survey showing that that middle-class people in the USA have a median of $20,000 saved for retirement. Those same people think they need at least $250,000 to retire. Something’s not adding up!

So what can people do? Well, for starters, the use of the internet has helped create plenty of tools and resources for consumers who need advice on their personal finances, such as how much they need to save or invest.Take life insurance as an example. LIMRA (Life Insurance Market Research Association, 2013) stated 86% of consumers prefer using the Internet to research and shop for life insurance. 

Thanks to this kind of technology, consumers can now even completely complete the process of obtaining life insurance online. Companies like Securing Life Today (my own company) are allowing users to research and choose their life insurance—people can shop, compare and apply at their convenience, instead of experiencing the hassle of calling someone 10 times just to get a quote. Securing Life Today connects the consumer directly with the company that has the best price, and life insurance is just one of their offerings; they also deal with health insurance, dental insurance, comparing investment fees, and several other important areas of personal and business finance.

Life insurance isn’t the only product that has become much easier to compare and research online—FeeX is a free online service that lets consumers link their online investment accounts to see what fees they’re charged in their investment accounts. So many people say they have no idea how much their investments are costing them—FeeX allows the consumer to see their fees, plus where they can save money.

Consumers are tired of paying for financial advice, then having to also pay to get the service or product that is being recommended, especially when individual financial companies tend to have an inherent interest in soliciting their own company’s brand or product, even thought it may not always be the best fit for each customer’s needs. Research has also show that consumer confidence in financial advisors has declined due to the financial crisis, as well as the news stories of fraud and white-collar crimes with the companies we’re supposed to trust.

So will technology and the Internet provide the transparency and trust that consumers desire and demand? Time will only tell, but as it stands for now, the financial industry sure could use a fresh and new approach that would allow the people in our country with better access to financial success.

http://www.feex.com/blog/will-technology-rule-the-future-of-personal-finance/

Is Ebola Covered by My Health Insurance Plan? By Carrie McLean on October 1st, 2014 Filed: Advice, Health and Wellness

Is Ebola Covered by My Health Insurance Plan?

By Carrie McLean on October 1st, 2014

Filed: Advice, Health and Wellness

With the recent announcement that a case of Ebola has now been diagnosed in the United States, it’s a good time to review basic health hygiene rules.

It’s also worth asking: Is treatment of Ebola covered by your health insurance plan?

Let’s address these issues one at a time, starting with the second one.

Ebola and Your Health Coverage

Should you become ill, you’ll be glad to know your health insurance company probably covers you for treatment of Ebola to same the extent it covers treatment of other diseases – at least if you have a major medical plan that meets the benefit standards of the Affordable Care Act.

Keep in mind that you may still have to pay out-of-pocket costs, such as deductibles, copayments and other forms of cost-sharing, when you actually receive medical treatment. Depending on your plan and situation, you may also need to visit in-network service providers.

There are some health insurance products, such as certain short-term health plans, that limit your coverage for pre-existing medical conditions or put lifetime dollar limits on the amount they will pay toward your medical bills. If you have such a product, you may want to consider switching to a major medical plan without these limitations when open enrollment begins on November 15, 2014.

If you’re traveling overseas and become ill, you should also be aware that your health insurance plan from home may or may not cover medical care you receive outside of the United States. Even if it does, you’ll typically have to pay for that care up front and then submit a claim for reimbursement on your return.

Anyone traveling overseas should consider a travel insurance plan, which can help you cover up-front medical costs and even provide you with evacuation to the United States in some cases.

If you have any questions about the coverage available to you under your personal or family health insurance plan, contact your licensed agent or health insurance company to learn more.

Health Hygiene in the Era of Ebola

Though Ebola has now been diagnosed in a patient within the United States (previous cases had been diagnosed overseas and the patients flown back to the U.S. for treatment), there is apparently no reason to panic according to the Centers for Disease Control (CDC).As discussed during the CDC’s briefing, strict measures will be applied to limit the spread of thedisease – and as of September 30, 2014, only one person has been diagnosed in the U.S. with the virus.What’s more, while Ebola is contagious, it’s generally not considered by the CDC to be the kind of virus that spreads through the air. The CDC states that Ebola typically spreads through contact with the bodily fluids of a person who is sick with the disease, contaminated objects such as needles and syringes, and infected animals.

That said, it’s a smart to review the rules for good hygiene during flu season, as some of these may help prevent the spread of other viruses like Ebola as well.

According to the U.S. government’s Department of Health and Human Services, here are five daily rules everyone can follow to help prevent the spread of flu and other viruses:

• Wash your hands often with soap and water or an alcohol-based hand rub.
• Avoid touching your eyes, nose, or mouth. Germs spread this way.
• Try to avoid close contact with sick people.
• Practice good health habits. Get plenty of sleep and exercise, manage your stress, drink plenty of fluids, and eat healthy food.
• Cover your nose and mouth with a tissue when you cough or sneeze. Throw the tissue in the trash after you use it.

Of course, if you have any reason to believe that you may have been exposed to Ebola – or if you’re showing concerning symptoms for any disease – be sure to contact your doctor’s office or hospital right away.

- See more at: http://blog.ehealthinsurance.com/2014/10/is-ebola-covered-by-my-health-insurance-plan/#sthash.4qJLnNgN.dpuf

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