|
News and Events from:
Renee Palumbo, Independent Broker
Your local "insurancegirl"!
How the Stimulus Package will affect Health Insurance
The new stimulus package that was signed by president Obama last week has provided some immediate relief for people who have redently lost their jobs, or are about to lose their employment.
Some of the stimulus money will be used to subsidize COBRA for the first 9 months that COBRA is in effect. The COBRA subsidy will pay 65% of the monthly premium, leaving the former employee with only 35% of the expense. This is significant and will surely benefit many people immediately.
Employers are required to begin notifying their employees of the change this week, beginning February 23, 2009. Employers will have to pay for their health insurance premiums and will then be reimbursed by the fund.
I'm including another article that can answer some of your questions about the impact of this new subsidy.
Companies to notify former workers of COBRA subsidy eligibility
Shenandoah Life Insurance Company in Receivership
The State Corporation Commission (SCC) has been named the receiver for Shenandoah Life Insurance Company by the Circuit Court of the City of Richmond. This was deemed necessary to protect the interests of policy holders and creditors. Shenandoah lost approximately $50 million when the value of its equity position in Fannie Mae and Freddie Mac preferred stock was significantly diminished.
Those of you who are holding life insurance policies with Shenandoah need not worry - Death benefits will be paid if triggered.
You can read more at the Shenandoah site:
Shenandoah Life Insurance Company Website
Community Involvement News
Community involvement is important to me, so I do what I can to give back. Here are some previous editions of the Shepherd's Center Quarterly Journal.
The center provides many valuable services for seniors in the Kansas City metro.
Shepherd's Center Quarterly Journal, August 2007
Shepherd's Center Quarterly Journal, June 2007
Shepherd's Center Quarterly Journal, March 2007
|
|
|
|
|
