As most of you know, I had a daughter last year and during open enrollment last year I had her added to my health insurance only. Now she is 16 months olds and there are some other policies I think I need to think about taking out. Open enrollment is from November 1 - 30 so I have plenty of time. I have a meeting scheduled with my rep next week but I'd like to get some real feedback from users of similar policies. 1. Supplemental Life Insurance/Accidental Death & Dismemberment: My employer already provides life insurance (1.5 times my annual salary) if I were to perish. I am thinking about adding supplemental to up it and because it is rather cheap for a younger person like myself. Yay or Nay? 2. Dental Insurance: She has a mouth full of teeth now and I'd like her to start seeing a dentist as soon as possible. I talked to one dentist and they advised waiting till they are 3 years old but I looked at the ADA's information along with numerous other dentists and organizations and they say that an infant should begin seeing a dentist at 1 year old or whenever teeth appear. Yay or Nay 3. Vision Insurance: I have amblyopia and because mine was diagnosed so late, there is nothing I can do to fix it. I have heard this is genetic and if my daughter needs to be tested for it and have it fixed I'd like for her to. 1 year old just seems a little young for vision insurance to me but maybe some of you can prove that thought wrong. Yay or Nay? 4. AFLAC: To be honest, I am not sure what AFLAC is, how it works and if it is worth it but I have a meeting with them to set to hear the side of it. Any information on this would be greatly appreciated. Yay or Nay? 5. Cafeteria Plan: I really enjoyed this plan at my last job and will probably end up joining this one as well as long as it is not too expensive. Any reasons not to? Any negative things I need to know? Yay or Nay? 6. Cancer: They have a cancer policy they're offering too. I have a history of cancer within my family but is this still something I ought to consider? Yay or Nay? 7. Long Term/Short Term Disability: As with AFLAC, I am not totally sure about what policies like this do and if they are worth it. I know that short term would have came in handy had my SO taken out a policy during her pregnancy but that is pretty much it. Worth it? Yay or nay? Thanks for any and all info.
Just my two cents and some info through coincidence... 1. This is obviously your call, but if the price is low and peace of mind high, then it sounds like you've made your decision already. 2. My daughter is 3 and we just realized that somehow, regardless of brushing every night since she's had enough teeth to do so, she's got some pretty serious cavity issues between some teeth where you can't see. It's going to end up costing quite a bit, and that's if we don't put her under (hard to imagine her taking it well enough without, but scary to think about putting her under for it.) I would advise getting this, but again, your call. 3. My son was diagnosed at a very early age with strabismus, and needed surgery for it. 1 seems young to me, as his condition wasn't and wouldn't have been diagnosed that early, but who knows the host of issues one might have, and if you've a condition that wasn't recognized early enough, I'd say that sometime between now and 3 you should consider it seriously. 4. I know very little about AFLAC, except to say that insurance sucks so bad apparently there is a market for insurance on your insurance. Shame, but that seems to be a reality. 5. No idea on this one. Depends on the Cafeteria I guess. 6. Another sweet statement on the state of our insurance industry... "Oh you have insurance... just not for THAT." If you have a history, I would say it is something worth considering. 7. Don't know much about that, and I'm assuming you won't be pregnant soon, but again, if the price is worth the peace of mind you'll get, and you can afford it... then go for it. If not... ==== I have a close family member that handles insurance right in your home town (by chance it happens to be my original hometown as well). If you'd like someone knowledgeable to talk to about this stuff, message me and I'd be glad to give you his email/phone.
If you have a kid....def get life (it's cheap) and long term disability (also tends to be cheap for younger folks). Long term covers you if you have an accident or illness that makes you unable to work. You'll need funds to cover your support and your family's. I, personally, think this is the most important insurance -- because a long term illness not only stops your paycheque, but often means additional expenses for the family. The others are a function of cost and your acceptance level to risk.
No opinion on most of those, but I vote yes on dental insurance. 1 year old might be early for dental troubles, but waiting till 3 is too long.
I was offered AFLAC at my previous job. If you play sports regularly, the accidental coverage is definitely worth it. Just for minor things like a hamstring pull, I'd go to the doctor and then get a check for $60 (basically making $30 after the copay). I broke my ankle in 2006 and it ended up covering all of my additional costs for physical therapy, plus some. I play less now and don't have it any more. But it was nice to get a check after going to the doctor. Made it worthwhile to get checkups. They have other policies, too...such as cancer coverage, dismemberment, etc. Also, definitely sign up for dental. Even if you think it's too early to go to the dentist, a 1-yr old can and will hit their face on a variety of things. Could lead to something that would cause you to need a dentist. Never happened to either of my children...but there were many occasions where I thought they were going to break their teeth.
as a pediatrician (and a father), I have a few thoughts... 2. when I trained we used to recommend going about age 3 unless you saw a problem earlier. however now I know pediatric dentists recommend age 1 or 2. i think age 1 is useless most of time, but I would say ask your peds if he/she sees anything that worries them... 3. amblyopia would be covered by medical insurance and vision insurance not needed. just ask your peds to screen for this at every well check just my 2 cents
1) Does your GF work? If not than you definitely need more life insurance. 2) Dental is generally more expensive than it is worth. Unless of course a child ends up needing braces. 3) You don't need vision. Health insurance will cover your visits. 5) Cafeteria Plan is your employer's health plan, and it is advantageous because it will be tax free. No real negative for you. I'm guessing you have private insurance currently?
Yes she works and she also has a life insurance policy. You know, I was doing the figures myself and I spend about $300 a year on dental insurance and use about $180 in dental care. I was thinking the same thing. It will cover to an optometrist? What's the point of offering/having vision? I have insurance through my employer. I thought a cafeteria plan was just taking so much out of your earnings to be used for medical care. For example, I may take $10 out per paycheck resulting in $260 for the year in medical coverage. I pay my $30 co-pay. I can use the cafeteria plan funds to get that $30 back basically. Right?
Long long time, but have always had family there, so go back occasionally, though it's been several years now. How long you been there?
I have been here all 30 years of my life. People that haven't been here in a while are always surprised by how much it has grown but it is still the same old boring place to me.
I can imagine it is that way to you, but it's a good place with good people, and I do miss it often. Once considered moving back. Anyway, good luck with your insurance quandaries.
I should say that I actually visit an opthamologist(These are more advanced eye doctors). Optometrist visits can be ridiculously cheap(Less than my co-pay). Vision insurance covers glasses and contacts. For what you had, I would bet you would want an opthamologist. Cafeteria plans can include that. What you are asking about would be an HSA(Healthcare Savings Account). When you say cafeteria plan it really just refers to non-taxable health benefits and can include Health, Dental, and HSAs. Your understanding of the plan is right. You can withdraw funds from it to reimburse yourself for medical expenses(This no longer includes OTC medicine, IIRC). If you withdraw from it in excess of your medical expenses, you get hit with a penalty on your tax return(so don't put too much in).
Hmmm, that kind of makes me want to drop my vision insurance even though it is pretty cheap, $3 per paycheck. Thanks for the info.
Then I wouldn't deem in necessary, but it is up to you. If you do feel like you want to protect them more, I would recommend getting term-life, and remember that a salesman will try to sell you more than you need (USAA tried to sell me on needing $350,000. I laughed at them.)
It usually is cheap. Most employers don't offer it anymore because their the one that shoulders more of the burden for something only people with glasses get any use out of.
Hate to be a burden with another question but what's the difference and what is considered sufficient and too much in your eyes? Like I stated, I have free life insurance through my employer (1.5 times my annual salary up to $50,000) so I already have $50,000 in coverage.
