Dentists Are Small Business Owners

Posted on January 31, 2012 by Renee Darata Leave a comment

Dentists graduate from Dental School and frequently open up a private practice. They hire staff and may have their office manager handle their insurance needs.

Dentists should have regular reviews of their policy and as their business expands, they may need to increase policy limits and eventually, may need an umbrella policy to protect their increasing assets.

Dentists can have longevity with staff when they provide Employee Benefits: Group Life, Group Health and Supplemental Insurance.

We can provide additional information on these insurance products.

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Small Business Insurance

Posted on January 26, 2012 by Renee Darata Leave a comment

Today I stopped by several dental offices.  Outwardly, they were very similar. Shining plaques outside the door with the dentist’s name engraved, waiting rooms  created by a professional designer, a reception counter where patients checked in, business cards on the counter, a sign regarding cancellation fees in case an appointment couldn’t be kept.

Behind the scenes,however, the dental offices differed. Some were properly insured and had a local agent. Others, hadn’t taken the time to review coverages in some time. Had the Dentists employed more staff? Did they buy new equipment? Did they own an umbrella policy?

Business Liability, Non Owned Auto, Business Personal Property, Electronic Data Equipment, Work Comp coverage and even EPLI, protect the Dentist and his assets. 

2012 is a New Year and the perfect time to review the Dentist’s Insurance Package: General Liabilty, Work Comp, Business Income, Non Owned Auto, EPLI. 

My office also provides employee benefits.

I am setting appointments now.   There is no fee for a review.

Call 801.748.0500

Business, Business Income, General Liability, Health Insurance, Liability Insurance, Small Business Owner , , , , ,

Health Insurance

Posted on January 9, 2012 by Renee Darata Leave a comment

Medicare and Medicaid business is 42 % of large health insurance carriers revenues. This is an increase of 6 % since 3 years ago. This may be a trend, to increase the share of government programs, after health care reform began in 2010.

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Insurance Carriers Had Record Year For Weather Disasters

Posted on January 6, 2012 by Renee Darata Leave a comment

2011 saw twisters,snow, drought, flooding and wildfire disasters in the United States. 12 disasters that exceeded $52 billion dollars in damages. This is more weather catastrophes,(that each caused at least 1 billion dollars of damage),than the entire decade of 1980-1989.

Insurance carriers have paid out an unprecedented dollar amount in 2011 which may lead to rate increases for consumers and businesses in those regions.

We hope that 2012 will be an uneventful year for weather disasters.

Business Income, General Liability, Homeowners Insurance, Liability Insurance, Small Business Owner, Uncategorized

Buying Life Insurance

Posted on December 29, 2011 by Renee Darata 2 Comments

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Insurance Claims after a Catastrophe

Posted on December 19, 2011 by Renee Darata Leave a comment

Joplin, MO experienced a devastating tornado earlier this year. Three small insurance carriers are now  insolvent and are being acquired by Missouri Farm Bureau. Missouri Farm Bureau will settle any outstanding claims of the three insolvent carriers.

Small insurance carriers have less financial cushion to withstand a catastrophic event.  While consumers will eventually get their insurance settlement, they have been waiting almost 7 months.

Price isn’t the only consideration when shopping for insurance.  Consider the financial strength of a large insurance company, one with local claims offices.

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Medicare & Paying for HealthCare Reform

Posted on December 15, 2011 by Renee Darata Leave a comment

Effective January 1st, Doctors who see Medicare recipients will see  a 27.5% decrease in fee reimbursements.

Meanwhile, AARP has ads warning lawmakers not to cut Medicare. They are reminding Congress there are 50 million Seniors out there.

Seniors who try and navigate their Medicare benefits without an insurance agent, find the choices complex and confusing.

Health Insurance  Agents have had their commissions cut and have less time available to spend with clients.

There is a pattern here: health providers and insurance agents having their incomes reduced to pay for health insurance reform.

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Buying General Liability Insurance

Posted on December 2, 2011 by Renee Darata Leave a comment

Let’s say you decide to start a business. You shop for office space and get ready to sign a lease.  The building owner, or Property Management Company wants you to provide General Liability Insurance.  You will need to consult with an insurance agent and provide a copy of the lease requirements as there are diffferent levels of insurance.  Also, they will need to add the owner or property management company as an additional insured to the insurance contract.  Be prepared to provide a FEIN#, and to complete an application.

 

Business, Liability Insurance, Proof of Insurance, Small Business Owner ,

Choosing Your Medicare Benefits

Posted on December 1, 2011 by Renee Darata Leave a comment

 Seniors have a limited window of time each year,to make changes to their Medicare Benefits. The Annual Election Period, or AEP, is coming to a close in 6 days.  Seniors will be locked in to their current plan choice or can change back to original Medicare in the Spring.

Original Medicare has no stop gap, meaning your cost sharing is unlimited.

Most insurance plans have a maximum out of pocket amount you are responsible for each year.  Original Medicare does not.  This is one of many reasons why Seniors choose Medicare Supplements or Medicare Advantage Plans.

 

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Health Professionals-Setting up the Practice

Posted on November 15, 2011 by Renee Darata Leave a comment

The busy small business owner setting up their office gives little thought to insurance.  They may call around and get a few bids and then make a purchase. (maybe over the phone, with an out of state agency)

Let’s compare this to a consumer with tooth pain. My tooth hurts. I call a Dentist and schedule an appointment.  The Dentist charges me for a consultation. Then,  gives me a diagnosis.  I could visit several Dentists and get several opinions.  Very likely, they will all differ on their plan of treatment.   The Dentist doesn’t try to diagnose the tooth pain over the phone.

As an Insurance Professional, what I do is similar, except there is no initial charge for my consultation.

I interview the health care professional, look over the premises and business property, and devise an insurance program that will protect the business owner’s assets with liability insurance.

There are many types of coverages and to buy an insurance program over the phone without an on site analysis, is like having the Dentist diagnose my tooth pain over the phone.

If you aren’t sure what these  coverages are: tenant improvements, tenant legal liability, non owned auto, EPLI,  consult an Insurance Professional.

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