FREQUENTLY ASKED QUESTIONS

HOW MUCH DOES FLORIDA HOME INSURANCE COST?

You will need a policy review to know exactly how much a new Florida home insurance policy will cost. There are a substantial amount of variables that will determine how much you will pay for your policy. We believe it is best for consumers to shop a variety of carriers and ask your agent/broker questions that will help you understand what can make your home rates cost more or less. Please review some of the coverage's that can make your premium fluctuate. Give us a call If you'd like to maximize your coverage today.

1. Deductibles
2. Dwelling Coverage Levels
3. Other Coverage's
4. Home Construction
5. Home Safety

HOW CAN I LOWER MY HOME INSURANCE PREMIUMS?

Given the recent rise in home insurance costs home owners are looking very troubled. People these days are looking at ways they can reduce these costs. Unfortunately not many people know the basics of home insurance which is why they end up making mistakes and paying more. If you just knew the basics of home insurance you could save a lot of money. Here are a few tips to help you lower your home insurance costs.

Look Around

There are plenty of deals out there which is why you shouldn’t just pick the first one you are getting. Look around and try to get the cheapest coverage options available. This may seem like a time consuming process but if you want to lower your home insurance costs this step is necessary.

Customer Discounts

You may not know this but there are special customer discounts available for those customers who have claim free histories. Discounts are also offered to loyal long term customers. You should talk to your insurance agent to find out if you qualify for a homeowner’s discount.

Don’t Buy Extra Coverage

A lot of people spend more than they should on home insurance. This involves buying coverage that you don’t need. Don’t get insurance against risks that you are never going to encounter. For example: you should avoid getting earthquake coverage in a earthquake free zone.

Increase Your Deductible

Deductible is basically the amount of money that you pay when you make an insurance claim. This is a small fee that you have to pay before the insurance kicks in. By increasing the amount of money you pay as deductible you can lower your insurance premium. A high deductible fee also indicates that your claim is likely to be genuine and requires immediate attention.

Conclusion

These were some of the tips from the experts that you can use. If you follow these tips you should be able to lower your home insurance costs considerably.

WHAT IS HOMEOWNERS INSURANCE?

Homeowners Insurance is an insurance coverage policy for your home. It basically covers all sorts of damage to your house and the possessions inside it. Different types of home insurance can be bought by homeowners depending on their needs. Home insurance policies can vary in terms of their coverage and premium costs. Highly reputable companies may have higher rates as compared to those just starting out in the industry. Let’s discuss the components of home insurance in more detail.

What is covered?
An extensive home insurance policy will cover costs of damage from natural disasters such as volcanic eruptions, earthquakes etc. Furthermore damage from fire, theft and vandalism is also covered under a good policy. In case of damage you can make claims and have repair work done instantly.

Types of Coverage

There are three main types of home insurance coverage that you can avail as a homeowner. Actual cash coverage is the first type of coverage. It will cover the value of your house and your personal belongings after their value has been depreciated. Secondly we have the replacement cost coverage. In this type of coverage you are paid the actual cash value of your property and belongings without including any depreciation. The last type of coverage that you can get is known as guaranteed replacement cost coverage. This coverage also has the highest premium of the three but it pays for any sort of damage to your home even if it exceeds the policy limit.

Conclusion

Now that you know the few basic components of home insurance it’s time to go out and select a reputable and well known insurance company. You should shop around and not just go for the very first company that you come across. Compare rates and service quality of each company before making any decision.

WHAT ARE BASICS OF FLORIDA HOME INSURANCE?

Every home buyer and homeowner should know the basics of Florida home insurance. These are the key elements that enhance your understanding and help you make better decisions. Home insurance in its essence is coverage for your home and personal belongings. In the event of a damage or theft the insurance company will help you recoup your loss. Nowadays homeowners insurance has become a necessity and without it you can’t finance your home. Given the importance that has been given to home insurance it is imperative that you learn its key elements.

How it Works

Home owners insurance works in a similar manner to all other types of insurance. There are only minor differences that you should be aware of. Ehen you buy a home insurance plan you will be asked to pay a premium, this is the money that will be used to pay for damages and repairs to your house. Furthermore you can make claims on your home insurance if the need arises. But before the claim is approved you will have to pay an excess fee. The higher the excess fee the lower your yearly premium will be. Normally home insurance covers vandalism, theft, and other types of damage to your property.

Learning to Manage Costs

Most people in a bid to lower their home insurance costs invest in their home’s security and safety. If you want your premiums to be lowered you should consider having an alarm security system installed. Furthermore you can add smoke detectors and fire extinguishers to minimize damage from fire. You can also select different types of plans if you need extra coverage.
Conclusion

Florida Home insurance is an important investment which is why you should consider all the factors before coming to a final decision. If you follow these basics of home insurance you will face no difficulty in finding a good insurance plan and provider.

HOW WILL HRA'S AND OTHER HEALTHCARE ARRANGEMENTS WORK WITH THE AFFORDABLE CARE ACT?

III. GUIDANCE
A. Guidance on HRAs and Certain other Employer Healthcare Arrangements,
Health FSAs, and Employee Assistance Programs or EAPs Under the Joint
Jurisdiction of the Departments
1. Application of the Market Reform Provisions to HRAs and Certain other
Employer Healthcare Arrangements
Question 1: The HRA FAQs provide that an employer-sponsored HRA cannot be
integrated with individual market coverage, and, therefore, an HRA used to purchase
coverage on the individual market will fail to comply with the annual dollar limit
prohibition. May other types of group health plans used to purchase coverage on the
individual market be integrated with that individual market coverage for purposes of the
annual dollar limit prohibition?
Answer 1: No. A group health plan, including an HRA, used to purchase coverage on
the individual market is not integrated with that individual market coverage for purposes
of the annual dollar limit prohibition.
For example, a group health plan, such as an employer payment plan, that reimburses
employees for an employee’s substantiated individual insurance policy premiums must
satisfy the market reforms for group health plans. However the employer payment plan
will fail to comply with the annual dollar limit prohibition because (1) an employer
payment plan is considered to impose an annual limit up to the cost of the individual
market coverage purchased through the arrangement, and (2) an employer payment
plan cannot be integrated with any individual health insurance policy purchased under
the arrangement.
Question 2: How do the preventive services requirements apply to an HRA that is
integrated with a group health plan?
Answer 2: Similar to the analysis of the annual dollar limit prohibition, an HRA that is
integrated with a group health plan will comply with the preventive services
requirements if the group health plan with which the HRA is integrated complies with the
preventive services requirements.
Question 3: The HRA FAQs provide that an employer-sponsored HRA cannot be
integrated with individual market coverage, and, therefore, an HRA used to purchase
coverage on the individual market will fail to comply with the annual dollar limit
prohibition. May a group health plan, including an HRA, used to purchase coverage on
the individual market be integrated with that individual market coverage for purposes of
the preventive services requirements?
Answer 3: No. A group health plan, including an HRA, used to purchase coverage on
the individual market is not integrated with that individual market coverage for purposes
of the preventive services requirements.
For example, a group health plan, such as an employer payment plan, that reimburses 7
employees for an employee’s substantiated individual insurance policy premiums must
satisfy the market reforms for group health plans. However, the employer payment plan
will fail to comply with the preventive services requirements because (1) an employer
payment plan does not provide preventive services without cost-sharing in all instances,
and (2) an employer payment plan cannot be integrated with any individual health
insurance policy purchased under the arrangement.
Question 4: Under what circumstances will an HRA be integrated with another group
health plan for purposes of the annual dollar limit prohibition and the preventive services
requirements?
Answer 4: An HRA will be integrated with a group health plan for purposes of the
annual dollar limit prohibition and the preventive services requirements if it meets the
requirements under either of the integration methods described below. Pursuant to this
notice, under both methods, integration does not require that the HRA and the coverage
with which it is integrated share the same plan sponsor, the same plan document or
governing instruments, or file a single Form 5500, if applicable.

Read More Here: http://www.irs.gov/pub/irs-drop/n-13-54.pdf