CDC has Warn the Public About the Deadly "Kissing Bug?" (Triatomine Bugs)

The Centers for Disease Control and Prevention CDC has warn the public about the spread Kissing Bug throughout the United States. Kissing Bug are Triatomine Bugs, they are blood-sucking bugs that usually bites the face of their victims. These bugs carries a possibly fatal disease called Chagas.

The kissing bug recently made its way to Georgia, Alabama and California, although health officials said the insect has been around the U.S. since the 1850s.

The bug looks like a cockroach and it earned the name kissing bug since it feeds on the blood of mammals, usually by biting them on or around the lip. Chagas disease, which can be fatal if left untreated, according to the CDC. There are currently about 300,000 cases of Chagas in the U.S.

The bugs are typically found outdoors but they can tend to hide under beds and mattresses.

The CDC provided a map of states that have reported of the bug:

Source: The Centers for Disease Control and Prevention

How to avoid them: The CDC recommends synthetic pyrethroid sprays, this have been proven effective against the bug in Latin America. You can also seal all your windows, roofs and doors. It is also great to have screens over windows and doors, minimize yard lights as the bugs are attracted to light, seal all holes and cracks throughout the house, having pets sleep inside and regularly checking for the bugs is extremely helpful.

Obamacare: High Deductibles and Higher Premiums

Bad news for Obamacare enrollees, reports said that there will be an increase in the out-of-pocket costs for deductibles next year 2016 that will significantly diminish the benefits of consumers health care plans and this will further discourage some from purchasing coverage.

Robert Laszewski, president of Health Policy & Strategy Associates, said “That these deductibles are so high is clearly one of the reasons people aren’t buying a plan—they simply don’t see themselves getting anything for the money.”

People have until the end of the year to enroll themselves for the 3rd season of Obamacare. The government said that there are a lot of plans available with low premiums however, most of those plans requires you to pay huge out of pocket costs before they Obamacare coverage actually kicks in.

The average annual out-of-pocket costs per worker increased nearly 230 percent between 2006 and 2015, according to an annual survey of employer health benefits coverage by the Kaiser Family Foundation.

The New York Times report said that majority of the states and more than half the plans being sold on Obamacare insurance exchanges have a deductible of $3,000 or more.

Median deductible in Miami is $5,000. In Jackson, Miss the median deductible is $5,500. Chicago is $3,400. Phoenix $4,000. While in Des Moines, Iowa, it is $3,000.

It is also revealed by the government that Obamacare will not hit their 10 million target by next year. Also another problem hounding the Obamacare is the rising premiums for policies the median rate increase for the lowest priced, most popular “Silver” plan will rise by 11% compared to just a 7% increase in 2015.

Anbang Insurance Group of to acquire Fidelity & Guaranty Life US

Anbang Insurance Group Co., Ltd., a leading global comprehensive insurance group based in Beijing, China, will buy the Fidelity & Guaranty Life FGL, -1.64% ("FGL"), a leading provider of annuities and life insurance in the U.S. for about $1.57 billion as Chinese insurers seek to expand into the United States.

According to Anbang, they will pay $26.80 per share, a premium of 3% to the stock's Friday close.
Fidelity & Guaranty's stock was down 1% at $25.98 in early trading.

The purchase will turn Anbang as one of the largest insurers by market share in fixed indexed annuity products in the United States. It is expected that FGL's solid life and fixed indexed annuity platforms will enhance the growth of Anbang's business while accelerating FGL's ability to further extend its policyholder base.

Financial holding company HRG Group Inc, Fidelity & Guaranty Life's majority stockholder, has approved the deal. The deal is expected to close in the second quarter of 2016.

Affordable Care Act: 500,000 plus sign up for Insurance

More than 500,000 has already submitted their application to purchase insurance under the Affordable Care Act on healthcare.gov according to U.S. Department of Health and Human Services.
Department spokesman Benjamin Wakana said that 250,000 applications were sent in the first 48 hours.

Enrollment for 2016 opened on November 1, 2015 throughout the country. They want to see if the number of uninsured people will drop. 28.5 million people in the US are still uninsured according to  the U.S. Centers for Disease Control's National Center for Health Statistics.

Texas topped the states with the most number of uninsured (20% or about 5 million people), followed by Alaska (17.2%), Florida (16.6%), Georgia (15.8%) and Oklahoma (15.4%).

Enrollment will continue up to January 31, 2015. Federal officials urge people to consider enrolling early or by mid-December to ensure uninterrupted coverage.

Happy Halloween

Happy Halloween! I hope you enjoy all the fun festivities and have a super scary costume ready.
Save some candy for us!

Have a “spook”tacular Halloween!

Obamacare: Open enrollment Nov 1 to Jan 31

The open enrollment for health coverage under the Affordable Care Act (Obamacare) will start on November 1 to January 31, 2015. This will be the 3rd year of health care sign-ups. Covered California officials said that there are still 2 million residents who are uninsured, primarily Latinos and African Americans and 36% of them don't know that they may be entitled to premium subsidies available under the Affordable Care Act. In contrast, only 16% didn't know about the tax penalty for lacking health coverage.

Covered California exchange have 500 storefront locations, they employ thousands of enrollment counselors, and have launched a $29 million advertising campaign and a statewide bus tour, to encourage more Californians to come under the health care umbrella.

They said that about 90% of the 1.3 million Covered California enrollees receive subsidies, and more than 200,000 people pay less than $50 a month thanks to that financial assistance.

For those who are uninsured tax penalties for not having health care coverage will increase again in 2016. Under the federal health care law, those without health insurance in 2016 may be subject to a federal tax penalty, which starts at $695 per person in a household or 2.5 percent of income, whichever is greater. For a family of four earning $70,000 a year that chooses not to purchase health care coverage for 2016, the tax penalty could be $2,085, according to Covered California.

For a family of three with an annual income of $61,021 living in Los Angeles I got these premium rates: Molina bronze $332, $0 monthly premium assistance, Oscar Bronze $396, Anthem Bronze $398 and Kaiser Permanente $403. Well, if you ask me those rate are expensive no wonder they are not signing up. If they just used the $29 million they pay for advertising in improving the discount then it would have been great.

Life Insurance Coverage 101

Know the basics on your life insurance coverage, since it is a long term investment that will protect your love once. Life insurance should be designed to fit your situation so it is not an "one size fits all." Most people, get the most coverage for the lowest cost as possible that they can afford.

There are two types of life insurance policies:

Term life insurance - this is basically a policy that gives death benefit for love once after you die. There are no other features.

Whole-life or permanent life insurance - this policy combines death benefit for love ones with a cash value that you can access while you are still alive.

Term insurance is a wise choice for younger and healthy people who are just starting out with life insurance since it is less costly. In term insurance you can keep your premiums as low as possible.

Married couple usually purchase this kind of life insurance to keep them secured financially in an event one dies. Most companies also offers this kind of insurance policy as added employee benefits. However, if you leave your company the policy will end.

Term insurance expires after a stated period of time or once you reach a specific age, so your love once is only secured during the stated term. This kind of life insurance is feasible only when you are young because they get much more expensive as you age.

Permanent life insurance has a number of kinds, that include traditional whole life, variable life, universal life or variable universal life. Just like the term insurance policy your beneficiaries will get paid when you die, the difference is that it doesn't have a stated termination date. If you have paid the adequate amount of premiums and the policy is in force, your love ones will receive the death benefit.

Premiums are higher and there are often have additional costs for permanent life insurance compared to term insurance policies. This type of life insurance also has cash value that accumulates as you pay premiums. Premium payments must be sufficient to avoid a policy lapse, but a portion of those payments accrue within the policy and can grow on a tax-free basis.

Before purchasing life insurance coverage make sure that you have assess every option there is and make sure that you have discuss your choices with a financial adviser.