Your Personal Healthcare Reform – Life Insurances

I’d like to switch gears for a moment and forgive me if my opinion is to loud  but I’m angry.  In an attempt to be a more educated and responsible citizen, I used my Saturday morning searching the internet for a clear and unbiased explanation of what the government is really planning to do with our health care.  My efforts ended in both disappointment and disgust with our system for their inability put it’s people in the know.  At first I got mad, really, really mad.  Now I’m going to write about it, not any more about how I’m mad, but how important it is, now more than ever, to take our health into our own hands.

You can make whatever decision you want about health care.  If you are among the fortunate who can afford a great plan, or were able to keep your jobs during the great unemployment debacle of ’08, kudos to you.  But if you are among the 30 million Americans who don’t have health coverage, or if you’re like me, an average individual who pays an overpriced premium with a ridiculous deductible and all out of pocket, this post goes out to you.  No, I take that back.  This post goes out to everyone!

The Tax Cuts and Jobs Act of 2017 will have far-reaching effects on many areas of financial planning, and life insurance is no exception. The authors detail four changes with important ramifications for life insurance planning. The authors detail several strategies affected individuals can use to modify their arrangements in order to remedy deficiencies and take advantage of new opportunities.

Existing life insurance policies.

Should those with more modest estates, (i.e., less than $10 million) drop existing insurance policies because they are no longer exposed to the estate tax? There are several important considerations here:

  • The increased exclusion amounts are temporary and are scheduled to sunset in 2026. The insurance may be needed, assuming the policyholders survive the next eight years.
  • People can develop medical problems and lose their insurability.
  • Many existing permanent insurance policies have significant cash values and represent a conservative savings vehicle.

Here you will found how the Life Insurance policies may be changed explained in a more specific way, also how the Cover Quotes are going to be on both positive and negative ways.

* * *

The passage of the Tax Cuts and Jobs Act of 2017 (TCJA) will mean sweeping changes in many areas of federal tax law. There are four provisions of the TCJA that will have the greatest affect on life insurance planning: 1) the increased lifetime gift tax exclusion, 2) the lower 21% maximum corporate tax rate, 3) new rules for life settlements, and 4) new rules for life insurance company reserves and deductions.

I have made it my goal to bring to you all the information I can about living healthy lives and not making it a full time job to do so.  Let the congress and the senate fight over higher taxes for insurance companies and public health policies.  Give yourself the power to decide your fate and make the efforts to be healthy and stay healthy.

Health care reform should start in your home, not on capital hill.  Sure we need solutions for those who are old, or sick, or dying from a terminal disease.  But what about you?  The intentions of this blog are and will always be about prevention but imagine you’ve just been diagnosed with a chronic or terminal illness, and your time on this planet is limited to two years or less. It’s a heart-wrenching situation, and you’re probably dealing with a lot.One of the things on your mind is how you’re going to make the most of the time you have left. You also need money to cover your medical costs. You have a life insurance policy, but the plan is useless now given your medical situation.A viatical settlement company works when you have a terminal illness, and you wish to sell your life insurance to a third party for a single lump sum.

Prevention is key.  I can’t stress this enough.  We don’t know what will be available to us tomorrow and  we can never predict an illness.  You could get hit by a car and the whole point would be moot but what if you live another 50 years?  Wouldn’t you rather those be 50 years of health and not of worry over whether your meds will be covered or if you’ve met your deductible?

Again, I have to apologize for the over-expression of my opinion and while you may be better able to argue in favor of the government’s reform, it is an inarguable fact that this country needs to start living healthier and for two important reasons.  The first: so we can have fulfilling lives without such a concern about where the money is for health care, and two: to save money for others who are not as fortunate. If you need flexible life insurance coverage, take a look at an adjustable life policy from affordablelifeusa.com

Let me give you an example:

  • -Heart disease is the leading cause of death for both women and men in the United States.¹
  • -In 2009, heart disease is projected to cost more than $304.6 billion, including health care services, medications, and lost productivity.²
  • -In 2003, approximately 37% of adults reported having two or more of six risk factors for heart disease and stroke (high blood pressure, high cholesterol, diabetes, current smoking, physical inactivity, and obesity).³
  • -A healthy diet, 30 minutes of daily exercise and eliminating and reducing harmful risks such as  tobacco are proven to greatly reduce the risk for heart disease.

Now, how can you argue with those facts?  By taking charge of our health, we can help to eliminate some major concerns over health care.  I, like you, would rather have peace of mind.  I certainly can’t argue with that.  The government must help our country and provide us with a better system, but until that day comes, it is up to us to take care of our selves.

Thanks for listening.  I feel better now and I wish to all of you a better today and a healthier tomorrow.

3 thoughts on “Your Personal Healthcare Reform – Life Insurances

  1. Here’s a new update from The Havard Health Publication…

    “If the estimated 88 million Americans older than 14 years of age who are now considered inactive became regular exercisers, medical costs in the United States would decrease by as much as $76 billion. ”

    HOLY MOLY!

  2. Thank you for your thoughts–great post. I share your same experience in finding no clear explanation of the reform and sensing that instead of being frustrated yet again by government, that I should just focus on what I can do to promote health in myself and others.

  3. My new experiment is turning frustration into productivity. This post was the prototype. I’ll let you know how it goes. Thanks for the comment. Read you soon.

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