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Volume XVIII
January 2012
NAIFA MEMPHIS
The agent advocate
2011 - 2012 Officers and
Board of Directors
President Walker Wellford,III,CLU
901-746-6361 [email protected]
Immediate Past President Thomas Dubose 901-566-9775
President-Elect
Jim Smith, AAMS 901-767-7212
Secretary / Treasurer Shannon Shriver, LUTCF, CRPS,
CLTC 901-762-4718
State / National Committee-man
Rick Pittman, CFP, CLU 901-590-3824
Directors
Eugene Hinders 901-758-1321
George Barzizza 901-767-1890
Andrew David 901-746-6345
Shawn Wilkins 901-388-4944
Mark Prudhomme 901-752-0475
William Pettit 901-761-1810
Kris Amen 901-820-5730
Association Executive Lisa Loden
The January Agent Advocate Sponsored by
Platinum Sponsor
BC/BS of TN
85 N. DANNY THOMAS BLVD. -
(901)544-2235 http://www.bcbst.com
2011 - 2012
Scheduled Meetings
The Racquet Club of Memphis
Doors open @ 11:30 am
January 10, 2012 Kathryn Feinstone March 6, 2012 April 10, 2012
PLEASE MAKE
RESERVATIONS BY NOON
JANUARY 6TH, FOR THE
JANUARY 10TH MEETING
Email:[email protected]
Phone: 901-360-1478
Buffet line opens @ 11:30 a.m.
Meeting begins @ 12:00 p.m.
President’s Message As NAIFA members, we should never underestimate the value we deliver and the purpose we serve as we touch the lives of our clients. We are valuable to our families, clients, communities and NAIFA. Think about the wealth-building and legacy benefits you create and deliver. The economic
impact you have, combined with the number of lives you have im-proved by passing this way, is nothing short of remarkable. We should stand tall and be proud of who we are and what we do.
We are truly difference makers and the last line of defense for many of our clients in achieving financial freedom. I believe we are appre-ciated more than we know by most of our clients. Now we must begin a new year again. Let's do so with trust, integrity, and depend-able service.
Look forward to seeing everyone on January 10th !
January 10, 2012 The Racquet Club of Memphis
Kathryn Feinstone
LTC & Your Business
Kathryn B. Feinstone, President, LSCW, MS, NCGC Kathryn founded her care management company in 1999 to provide families and their loved ones with the highest quality geriatric care options and solutions available. Kathryn is a Licensed Clinical So-cial Worker (LCSW) and geriatric care manager. She has 22 years experience, both professional and personal, in the field of aging and care giving. In addition to establishing and growing her own care management company, Kathryn’s experience includes work in adult day care, psychiatric facilities, transitional homeless shelters and children’s services. She holds a masters in gerontological counsel-ing and a masters in social work. Kathryn is a member of the Na-tional Association of Social Workers, the National Association of Professional Geriatric Care Managers, and she is a National Certi-fied Geriatric Counselor.
Doors open at 11:30 with the meeting beginning promptly at 12:00
Please contact the association office to make your reservation [email protected] or 901-360-1478
T H E A G E N T A D V O C A T E
2011 - 2012 VIP Sponsors
Platinum
BLUE CROSS BLUE SHIELD OF TN
85 N. DANNY THOMAS BLVD. - (901)544-2235
http://www.bcbst.com
PRODUCERS CONNECTION FORMERLY
MILESTONE FINANCIAL GROUP, INC.
751 Walnut Knoll Lane (901) 758-8886
http://www.mfg4life.com
Gold
WELLNESS FIRST / EXAM ONE
2725 KIRBY PKWY. (901)753-8148
http://www.myexamone.com
SILVER
APPS PARAMEDICAL SERVICES
275 WALNUT BEND S., #101 - (901)756-2777
http://www.appsmemphis.com
PORTAMEDIC 8001 CENTERVIEW PKWY., #213 -
(901) 624-3801 http://www.portamedic.com
BRONZE
COMFORT KEEPERS
5575 POPLAR AVE., #612 (901)752-1515
www.comfortkeepers.com/office-169
To become a VIP sponsor please contact the association
office @ 901-360-1478 [email protected]
To our 2011 - 2012 New Members!!
Jeff Grimm Patrick Cole Ralph Bond Steve Droke Clifton Eley Callie Ford Altaf Safri
bcbst.com
Managing a BUSINESS can be a 3-ring circus. We are a one stop solution for
affordable and flexible health, wellness, dental and vision plans. All with the most widely accepted insurance card. Contact your BlueCross BlueShield of Tennessee representative to help you customize a plan for your clients.
©BlueCross BlueShield of Tennessee is an Independent Licensee of the BlueCross BlueShield Association
We can help you and your clients
JUGGLE the parts that pertain
to health.
you carry us.because we carry you.
Bikes for Kids Program
Thanks again to all of you who contributed to our Angel Tree Bikes for Kids campaign in conjunction with the Salvation Army. We collected almost $1,900 this year, up from about $1,500 last year, and that will buy almost 40 bikes for needy area kids! As I have mentioned before, these gifts generally go to the kids who are NOT adopted from the Angel Tree, and would surely have little if anything for Christ-mas. So, thanks once again for sharing your bounty. I have received a personal note from Major Mark Woodcock, Area Commander of The Salvation Army, as well as his director of development, Elizabeth Duncan, who wanted to thank all of you for your generosity. Below is a picture of Elizabeth taken at the SA’s “bike and toy warehouse” recently, and you can see all the bikes that they were able to purchase with area donations. As you can imagine, the 40 or so bikes that you helped buy were a big part of their total, so CONGRATULATIONS AND THANK YOU AGAIN! Below is also a list of the known con-tributors this year (forgive us if we left anyone off the list). Best wishes to all of you for a great 2012!
Wayne McCullough
Project Chairman
Contributors
Wayne McCullough Tom Cooper Joe Fracchia David Peterson
Bill Nance Walker Wellford Michael Callahan Chris LeBlanc
John Brooks Tim Moran Shawn Wilkins George Moore
Barry Young Rick Pittman Celeste Caldwell Gene Hinders
Steve Sheppard Cindy Schneider Scott Cannon Randy Flatt
Deloris Burrow Derek Baltimore Bill Pettit George Barzizza
Lynn Alford Tim Stanz
Health-Care Reform: Considerations for Employers
You may have heard that the health-care reform legislation passed in 2010 requires all employers to provide health insurance to their employees. That is not the case. But the law does try to encourage employers to offer health insurance by imposing penalties on larger employers that don't offer affordable health insurance coverage, and by offering incentives in the form of tax credits to smaller employers who do provide their workers with affordable health-care coverage.
Grandfathered plans Employer plans that were in existence on the date the health-care law was enacted (March 23, 2010) are considered grandfathered and are subject to some of the provisions of the health-care reform law. Provisions of the new law that affect grandfathered plans include: Starting in 2010,
Plans must extend dependent care coverage (if offered by the plan) to adult children up to age 26 Plans can no longer impose lifetime coverage limits Plans can no longer include pre-existing condition exclusions for children
Starting in 2014,
Plans can no longer apply annual limits on coverage Plans can no longer impose pre-existing condition exclusions for adults Plans cannot extend coverage waiting periods beyond 90 days
Tax penalty begins in 2014 Beginning in 2014, large employers that do not offer health insurance coverage to employees will generally be subject to a tax penalty if even one full-time employee buys coverage through a state exchange and is entitled to a tax credit or cost-sharing reduction. You're considered a large employer if, in the prior year, you had an average of at least 50 full-time employees. (The rules for calculating aver-age full-time employees can be a little tricky, though--part-time employees are factored in as part of the determination, for example.) The penalty can be up to $2,000 per year for every full-time employee after the first 30 full-time employees. If you're a large employer and do offer health insurance coverage to your employees, but the coverage isn't considered affordable, a separate penalty calculation applies--this penalty can amount to up to $3,000 per year for each employee who purchases health insur-ance coverage through a state exchange and is entitled to a tax credit or cost-sharing reduction, but it's capped at the amount of penalty that you would pay if you offered no insurance coverage at all. The coverage you provide may be considered unaffordable if it doesn't cover at least 60 percent of the cost of covered services, or the premium for an employee's coverage exceeds 9.5 percent of the em-ployee's household income.
Small business tax credit The health-care reform law does provide an incentive in the form of tax credits to certain small businesses (generally those with fewer than 25 full-time employees) that pay at least half the cost of health insurance for their employees. The credit is available in two phases. For years 2010 through 2013, the maximum credit can be up to 35 percent (25 percent for eligible tax-exempt small employers) of the employer's premium expenses. For tax years 2014 and later, the maximum credit increases to 50 percent for employers that purchase coverage for employees through a state exchange (35 percent for eligible tax-exempt employers). To be eligible for the maximum tax credit, the employer must have 10 or fewer employees and average annual wages not exceeding $25,000. The credit is phased out for employers with between 10 and 25 full-time employees, and for employers whose full-time employ-ees have average annual wages between $25,000 and $50,000. In addition, the credit is capped based on the average cost of health insurance in the area where the small business is located.
Retired employee reimbursement Employers who provide insurance for retired employees who are over age 55 but not yet eligible for Medicare may receive reimburse-ment for up to 80 percent of the combined retiree claims costs for health benefits between $15,000 and $90,000. This program is in-tended to make it easier for employers to provide coverage to early retirees. This temporary reinsurance program began in 2010 and is available until 2014, or the date when the funds allocated to the program are exhausted. Note: Employers who receive a tax deduction for Medicare Part D drug subsidy payments will see that deduction eliminated beginning in 2013.
SHOP exchanges to be established in 2014 Small businesses with 100 or fewer employees should be able to purchase health insurance through state-based Small Business Health Options Program (SHOP) exchanges by 2014. The exchanges will offer at least four benefit categories of plans based on covering an increasing percentage of benefit costs, and allow employers to more easily compare plan prices and benefits. In 2017, states may elect to allow employers with more than 100 employees to buy coverage through SHOP exchanges. Richard L. Pittman National Committeeman [email protected]
Thanks for Your Continued Support & Business
A Full Service Paramedical Provider
Specializing in MD Cases The ORIGINATOR of Centralized Scheduling!!!
Ask us about SMART PARAMED!!!
James Zachary, Regional Director
(21 yrs of service)
Brennan Zachary, Director of Operations
Tammy Winston, Agent & Client Relations
Barbara Acree, Account Executive Call APPS for your next Case!
756-2777 / Fax 756-2778 / 800-937-2777
Order Exams & Check Status On-Line: www.appslive.com
275 Walnut Bend South, Suite 101, Cordova, TN 38018
Important Message about IFAPAC:
The government is making decisions that affect your business. The only way you don’t have a voice in those decisions is if you choose not to use it.
Please join your fellow IFAPAC contributors and let your voice be heard.
Contributions are easy: Use one of the following links to contribute today:
Online: https://member.naifa.org/IFAPAC/IFAPACDirective.aspx
To Mail: (Click on the following link to print forms:)
http://www.naifa.org/advocacy/ifapac/documents/IFAPAC_3Ways.pdf
To Upgrade Bank Draft: (Click on the following link to print forms:)
http://www.naifa.org/advocacy/ifapac/documents/BankDraftUpgradeForm.pdf
IFAPAC is “Your” Political Action Committee Insurance and Financial Advisor’s Political Action Committee
For more information please contact: Celeste Caldwell, IFAPAC Chair, Cell: (901)462-7025 [email protected]
Remember: You Can Renew
Your NAIFA Membership Online
Renew your membership investment in NAIFA with our fast and easy online renewal process. Simply go to http://www.naifa.org/ and click “Renew” at the top of the page. Would you rather pay your membership dues in 12 easy monthly installments? Renew online through our monthly bank draft or credit card program. If you elect to have your dues de-ducted/charged on a monthly basis, dues are debited/charged from your account or to your credit card on the 5th day of each month. If the 5th falls on a weekend, the debit will occur on the next business day. Please note, NAIFA only accepts VISA & MasterCard for enrollment in the monthly credit card program.
Don’t wait any longer – renew today!
L.A., L.A., inc.inc.
LIFE ANNUITIES DISABILITY LTC
Wholesalers with over 100 years combined sales experience Competitive carriers… “Best rated” Excellent or Superior
Professional expertise for help with advanced sales
Personal service that you can count on
Milestone and Life Associates have joined forces to form
Producers Connection, LLC
(901) 758-8886 or (800) 737-4915
751 Walnut Knoll Lane / Cordova, TN 38018 www.PC4producers.com
Chris LeBlanc, CLU John Brooks, CLU Wayne McCullough, LUTCF
A DISABILITY INCOME/WHOLE LIFE INSURANCE CASE STUDY
Profile • Husband, age 34, sole income earner. • Household income $90,000 / $60K base salary plus $30K commissions. • Participates in company paid Group LTD employee benefit program.
Opportunity/Challenge • Current Group LTD benefit only covers base salary; commissions left unprotected. • One source of income to provide for family needs. • Understand the importance of planning for unexpected life events. • Is seeking ways to build assets, and is considering the purchase of a whole life insurance policy.
Goal Take the first step to help protect the family’s greatest asset – the sole source of income.
Solution When a needs assessment shows your clients need both, recommend a Disability Income insurance policy either prior to the purchase of a Whole Life policy, or at the same time. A DI policy will help protect the client’s most important asset: their ability in earn an income.
