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I've had term life insurance for about 10ish years with Banner. I'm just now reading about borrowing against a life insurance policy, but since I'm on a term policy, I'd have to open a new whole life policy and wait for cash to build up, right? I can't just open a whole life policy and borrow against the death benefit?
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May 11, 2022 16:31
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MJP posted:I've had term life insurance for about 10ish years with Banner. I'm just now reading about borrowing against a life insurance policy, but since I'm on a term policy, I'd have to open a new whole life policy and wait for cash to build up, right? I can't just open a whole life policy and borrow against the death benefit? If whole life would benefit your financial situation you would have enough money that your family office would be able to advise you on this. Why do you want to borrow against an insurance policy?
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May 11, 2022 17:06
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Motronic posted:If whole life would benefit your financial situation you would have enough money that your family office would be able to advise you on this. I'd read a few bits and pieces about leveraging insurance - borrowing against it in order to get long-term investment funds. I've got my fiscal ducks in a row, I figured I'd look into it and see if it was realistic or a good idea. If it'll take another 10ish years to build up borrowable investment funds, I'd be close enough to retirement age that it might not work.
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May 11, 2022 18:03
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MJP posted:I've had term life insurance for about 10ish years with Banner. I'm just now reading about borrowing against a life insurance policy, but since I'm on a term policy, I'd have to open a new whole life policy and wait for cash to build up, right? I can't just open a whole life policy and borrow against the death benefit? The unstated implication of borrowing against a whole life policy is this: "Oops, you spent a lot of money on this terrible investment vehicle of a whole life policy, so now you can borrow some of it to invest in an actual good long-term investment vehicle." You bought a term life policy, so you didn't waste money on a whole life policy. Presumably, the money you did not waste has been invested in a good vehicle.
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May 11, 2022 19:56
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There's a good reason to buy a whole life policy, it's to troll your heirs after you're dead.
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May 11, 2022 20:26
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MJP posted:I'd read a few bits and pieces about leveraging insurance - borrowing against it in order to get long-term investment funds. I've got my fiscal ducks in a row, I figured I'd look into it and see if it was realistic or a good idea. If it'll take another 10ish years to build up borrowable investment funds, I'd be close enough to retirement age that it might not work. Exactly. Just invest the money you have. There isn't a magical pot of money for you to draw from here. People talking about that are people who have been tricked into whole life policies a decade ago and will not pull the rip cord.
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May 11, 2022 21:18
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OK I've got a health insurance question that might be a bit specific. I went to an acupuncturist four times in April 2022. She's listed as in-network for my insurance, United (via UMR, if that makes a difference). When I went to the office for my first visit, they said that they were having some issues getting my insurance provider to verify coverage even after I gave them my insurance ID card. They asked me to pay $100 per session in case I was denied coverage or hadn't hit my deductible, which they would refund me if things got resolved. It was the only acupuncturist in my network and driving distance - no others were accepting patients even out-of-pocket, so I went. No issues with the treatment, each time I was billed and paid via Amex. UMR processed the EOBs from the visits. The EOBs said that I had indeed hit my deductible some time ago and the insurance paid 100% for each visit, I owe $0. I called the office and asked how I could get a refund - then things got really shady. She gave me the phone # for their billing person, but told me that he doesn't really take incoming calls and I should text him the details. I did so, and he responded, asking me to forward the EOBs to his email - a Gmail address. Nothing related to the practice at all. I'm a bit hesitant to just send EOBs to someone - I don't see any ICD-9 or -10 codes or any health details/PHI, but it does have the services and other EOB details. If it was just a few bucks I'd write it off but this is $400 I'd like back. I don't really trust that this is secure or that my info would be well-kept by this person. I feel like I should tell him "you are the billing department, you should have access to these details or have the doctor's office send them, I don't know who the heck you are". Am I being paranoid? I've either paid my deductible portion or copay in the past and been done with it, never had to do this kind of reimbursement situation. I'm very tempted to call the doc office back, tell them that I'm not sending possible PHI/PII to a third party, and that they should work it out with the billing guy or I'll file chargebacks.
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May 24, 2022 18:44
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I would lean into them asking them to handle it for you in the next 14 days. If they don't, call UHC and see if they can help you out. They can lean on their in-network provider to help you out. You're probably past the chargeback window. I wouldn't email PHI to them, but emailing the person your name and dates of service should be all they need to fix it. Though honestly lots of acupuncture places aren't run by people with great business acumen and the fact that they take insurance at all is surprising.
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May 24, 2022 19:36
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H110Hawk posted:I would lean into them asking them to handle it for you in the next 14 days. If they don't, call UHC and see if they can help you out. They can lean on their in-network provider to help you out. You're probably past the chargeback window. I wouldn't email PHI to them, but emailing the person your name and dates of service should be all they need to fix it. Though honestly lots of acupuncture places aren't run by people with great business acumen and the fact that they take insurance at all is surprising. Fortunately I've got 120 days and I'm only about 30 in. I asked this suspicious billing guy if I can just fax the EOBs to the doctor's office - at least I know for a fact that they're the actual provider in question, not some rando. If that fails and we impasse out, I'll begin the 14 day lean and just dispute. This plus United saying "Sorry, this $800 was charged after your coverage expired" while I'm quite literally still covered and have been for the past year has me worried that bad poo poo's starting for an otherwise uneventful and reliable health insurance company.
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May 24, 2022 20:12
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Got a $4009 medical bill out of nowhere, from the car accident 18 months ago. Apparently they billed the car insurance and they told them to get hosed, so then they billed my BCBS and they said "lol you can't just send bills in 16 months later, we ain't paying poo poo." And the thing is I told them Progressive wouldn't pay them and they needed to submit it to BCBS and they said that they would but first they had to wait until Progressive denied it which supposedly Progressive didn't do for 15 months or whatever. And this is all somehow my fault and the bill collector rear end in a top hat is starting in on the sleezy collections tactics. Jesus Christ what a great system.
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May 24, 2022 22:55
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Why exactly do these places wait so long to send the bills to insurance? My dentist bugged me about billing issues for a procedure that was performed last year. Do they not like being paid as soon as possible?
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May 25, 2022 04:28
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The billing people at medical providers are usually barely competent people off the street who get paid a little more than you’d made working fast food. There’s so much poo poo that just never gets done right. I wouldn’t be surprised at all that this was just sandbagged until someone got fired and the new person came in to realize it hadn’t been submitted yet.
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May 25, 2022 10:47
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bird with big dick posted:Got a $4009 medical bill out of nowhere, from the car accident 18 months ago. Apparently they billed the car insurance and they told them to get hosed, so then they billed my BCBS and they said "lol you can't just send bills in 16 months later, we ain't paying poo poo." It seems Oregon doesn't have a division of insurance like NV does (where I live). But if you google it they have a Department of Financial Regulation that has insurance complaint forms and a number to call, I'm thinking I can file a general complaint with them (in this case its the medical provider thats at fault but its still insurance related) or they have some new surprise billing related laws apparently maybe I should try filing a complaint with them? Maybe both? It will be a cold day in hell before I pay this bill.
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May 27, 2022 15:57
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I'm sure it's more complicated than this but if this is literally the first time you're being billed it might be too late for them. However things get tricky when you have several insurances arguing. https://oregon.public.law/rules/oar_436-009-0010 I wouldn't go nuclear quite yet, but call your insurance and see if anything resets due to the denial letter you got recently. If they still aren't I would tell the provider that they didn't bill your insurance in a timely fashion and would like them to write it off. If they agree print off some like 3 sentence agreement that says all charges from x date are canceled and not payable by you, make the Dr sign it. Take notes on who/what/when/where you talk to everyone. H110Hawk fucked around with this message at 17:02 on May 27, 2022 |
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May 27, 2022 16:59
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Thanks, that looks like it might help. It's not the first time I've been billed but I still think citing the 12 month thing might help. I've already talked to my insurance multiple times and they said they'd reprocess the claim and they did reprocess the claim and denied it again, lol. BCBS isn't going to pay and Progressive isn't going to pay because I'm in the middle of suing them so either nobody pays or I pay.
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May 27, 2022 18:39
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I called their billing department they're closed for the holiday. The holiday is Monday you lazy fuckers.
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May 27, 2022 18:59
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Does insurance career talk also fall into this thread, too? Asking before making any significant post.
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May 31, 2022 21:37
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Sure, why not. Who’s going to stop you
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May 31, 2022 22:28
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Just post, I'm curious what your question is now.
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May 31, 2022 23:37
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Mainly curious what companies people are working at/what career paths they take. I was at State Farm for ~8 years and worked up to a total loss claim specialist role. I left and moved over to a startup because COVID closed my office permanently and with how SF loves their very conservative traditional culture I didn't want to do the rear end kissing to move up to a management role from the specialist position. I'm at an insurtech startup now which I was very happy with but we lost our director and things feel very stupid and aimless. I'd like to stay remote and have little interest in moving back to a traditional and heavily metrics based company.
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May 31, 2022 23:40
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The good news is basically every company in the industry is short on claims talent right now so if you shop around you should find a decent set of options available to you. Not sure how successful you'll be at getting away from metrics though unless you move to a really small regional carrier or something, especially if you work on personal auto physical damage which tends to be open close move on type stuff.
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May 31, 2022 23:44
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holefoods posted:Mainly curious what companies people are working at/what career paths they take. I was at State Farm for ~8 years and worked up to a total loss claim specialist role. I left and moved over to a startup because COVID closed my office permanently and with how SF loves their very conservative traditional culture I didn't want to do the rear end kissing to move up to a management role from the specialist position. Pretty much everyone but SF is realizing they’re not going to be able to get the bulk of their workforce back in the office. The metrics piece is probably harder to get away from in an adjuster level role, you need more of a squishy type role that doesn’t lend itself well to that type of stuff. High dollar claims, like cargo, commercial, reinsurance, etc are all high complexity stuff that usually is pretty hands off from a micromanagement perspective. Other avenues like process improvement or whatever the companies call their people who work with the claims business aide and IT are also outside of the soul crushing numbers realm as well. What have you been doing at the startup?
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Jun 1, 2022 00:29
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Still doing auto at the startup, though with the nature of it the role also included working on developing processes, building relationships with outside vendors, putting together some tools to assist with automation, etc. Probably stuff that I should have received some pay raises or more recognition for. I suppose my main problem is that I suck at translating that into resume bullet points. So far I've only received one serious reply in my half hearted job search and they were offering me like 60% of what I make now, I think that was mostly just an insanely stupid play by the recruiter or she didn't read my resume and notice that I've got nearly 10 years in the industry.
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Jun 1, 2022 00:44
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holefoods posted:Still doing auto at the startup, though with the nature of it the role also included working on developing processes, building relationships with outside vendors, putting together some tools to assist with automation, etc. Probably stuff that I should have received some pay raises or more recognition for. I suppose my main problem is that I suck at translating that into resume bullet points. So far I've only received one serious reply in my half hearted job search and they were offering me like 60% of what I make now, I think that was mostly just an insanely stupid play by the recruiter or she didn't read my resume and notice that I've got nearly 10 years in the industry. The resume help thread Ask a Manager on resumes Ask a Manager on cover letters Anecdotal, but following Allison's advice on resumes and cover letters increased my callbacks by... I don't know, probably five times? Maybe more? It's not like any other kind of writing, and every hiring manager is looking for something different, but it's overall very good advice.
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Jun 1, 2022 01:12
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Does getting business insurance quotes affect my credit score or flag me with my current insurer? The agency I use for general liability does not offer excess liability. My excess liability coverage comes from a second insurance agency, but they are extremely expensive. I have been shopping around for better excess liability coverage because my current carrier doesn't actually meet the the level of coverage I am required to have. Out of the blue, they are asking for an audit. Is this a coincidence? Does anyone have any suggestions for finding niche excess liability insurance?
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Jun 1, 2022 23:13
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WorkingStiff posted:Does getting business insurance quotes affect my credit score or flag me with my current insurer? Is the business in your name or an LLC/Corp? If it's the latter, it won't. Shouldn't affect it regardless. For excess - do you have an agent? That's your best course of option as they will have access to wholesale markets (which is sounds like you need based on "niche"). General liability policies are audited at the end of the term. This is normal.
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Jun 1, 2022 23:19
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It's an LLC. Technically I guess I have an agent, but she works under a larger company so I don't know if she's acting in my best interest or the interest of her company. Thanks for explaining that to me.
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Jun 2, 2022 01:09
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WorkingStiff posted:It's an LLC. Agents aren't beholden to their larger companies for anything that would affect you or your policy.
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Jun 2, 2022 03:06
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I'm getting married in a few months, my job offers free insurance to employees and family members, but charges $100/months if your spouse has a job that offers them insurance. Can I just lie about this? How would they find out otherwise?
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Jun 3, 2022 20:15
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dxt posted:I'm getting married in a few months, my job offers free insurance to employees and family members, but charges $100/months if your spouse has a job that offers them insurance. Can I just lie about this? How would they find out otherwise? They probably wouldn't find out, but there's a chance they could do random audits. And lying about it probably is some sort of insurance fraud on some level.
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Jun 3, 2022 20:35
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If you lie about it and use the coverage and they find out that is insurance fraud. I know it's tempting and likelihood of getting caught is low but be aware of what you are doing.
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Jun 3, 2022 20:42
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General Probe posted:If you lie about it and use the coverage and they find out that is insurance fraud. I know it's tempting and likelihood of getting caught is low but be aware of what you are doing. They are way more likely to find out about it when you put in a claim, too. The bigger the claim, the more likely the adjuster reaches out to your wife's current employer. And given that it's just a phone call for the chance at denying trends of thousands of dollars in payment, it's a pretty easy call for them to make.
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Jun 3, 2022 20:56
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Is it really insurance fraud if I'm lying to my employer and not insurance? Serious question.
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Jun 3, 2022 20:57
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dxt posted:Is it really insurance fraud if I'm lying to my employer and not insurance? Serious question. I mean you were lying while obtaining insurance... Your employer is providing the insurance but it still technically an application for insurance. So yes, I bet it would be classified as insurance fraud.
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Jun 3, 2022 21:01
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sheri posted:I mean you were lying while obtaining insurance... Your employer is providing the insurance but it still technically an application for insurance. So yes, I bet it would be classified as insurance fraud. Even if it's not, it would 100% be grounds for denial of coverage.
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Jun 3, 2022 21:56
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You’d absolutely get fired, too.
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Jun 3, 2022 23:13
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Is there any way I can have my employer deduct pre-tax dollars from my paycheck to a HSA if the associated plan is not purchased through the employer? I know I can contribute post-tax dollars myself, but that isn't very advantageous to me as I don't plan to itemize my deductions. Keep in mind my employer's HR department is incompetent and understaffed, so they will probably drag their feet if asked to do anything remotely unusual.
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Jun 5, 2022 09:10
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I'm starting interviews to hopefully find a new job in the near future. My fear is this: I'm meeting with my doctor tomorrow to discuss a treatment plan for a shoulder injury. If I were to take a new job, would there be a risk that my treatment wouldn't be covered as a "pre-existing condition"? Should I drop anchor and stay at my current employer until I'm back to health? That's separate from other concerns like whether or not my current doctor would suddenly become out-of-network, coverage cost/quality, etc. I'm just trying to figure out if I have a very expensive handcuff to my current job that I'm not accounting for. IE: whether I basically must get treated for this injury under my current employer's insurance. Farchanter fucked around with this message at 23:38 on Jun 12, 2022 |
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Jun 12, 2022 23:30
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Farchanter posted:I'm starting interviews to hopefully find a new job in the near future. My fear is this: I'm meeting with my doctor tomorrow to discuss a treatment plan for a shoulder injury. If I were to take a new job, would there be a risk that my treatment wouldn't be covered as a "pre-existing condition"? Should I drop anchor and stay at my current employer until I'm back to health? Pre existing conditions exclusions are no longer allowed on health insurance in the US. 2014 as part of Obamacare
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Jun 13, 2022 00:05
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Bondematt posted:Pre existing conditions exclusions are no longer allowed on health insurance in the US. 2014 as part of Obamacare oh, duh! For some reason I thought that was one of the things Republicans had peeled away. Thanks!
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Jun 13, 2022 00:09
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