How An Agency Like Ours Can Help You With Your Health Insurance Needs

We Are Not A Health Insurance Agency But Bye Financial Group LLC Can Help You Find the Right Plan

The lovely state of Michigan has a lot to offer its residents and quality healthcare is one of the most important things. Insurance agencies can help you with the difficult process of acquiring and enrolling into a health insurance plan.

Some are frustrated to such an extent that they go without health insurance. Let us help you help yourself. We can navigate the healthcare marketplace and help you select your plan if necessary. We are available to assist in any way that is deemed appropriate.

If there are pending health issues on the horizon and you feel your current level or health plan may not provide the coverage you need. An insurance agent can be the appropriate point of contact to avoid any lapses in coverage or resultant penalties. 

An authorized insurance agent will discuss your particular needs in terms of health insurance. That knowledge gives us the ability to assist you in choosing the right program to meet your needs. In general, Michigan offers the following types of health insurance: Group coverage, Individual coverage, Medicare, Medicaid,  and the Healthy Michigan Plan.     

Up and Adam 

Take a healthy stride right into the offices of Bye Financial Group LLC in Grand Ledge, MI. If you prefer to contact us by telephone our number is 517-622-5020. We are well-equipped to help you find the right health insurance plan to fit your needs. Our Insurance products also include the following: auto, home, commercial, life, motorcycle, flood, boat/watercraft, and classic car insurances. Your health is your greatest asset and we will help you protect it with the appropriate health insurance. 

Life Insurance Recommendations for 2019

At Bye Financial Group, LLC, we want you to be as protected as possible as you go into the New Year. Here are a few life insurance recommendations for 2019 to guide you. We serve Grand Ledge, MI and the surrounding areas. 

 According to reports about the Tax Cuts and Jobs Act (TCJA), many changes were made to federal tax law, and four, in particular, that will affect life insurance.

  • First is the increase in the lifetime gift tax exclusion, which means increased exclusion rates for large lifetime gifts, at least for the next several years before the act expires. It will affect existing life insurance policies because they will no longer be exposed to estate tax during the next eight years, but remember this change is temporary.
  • Second, there is a reduction in the corporate tax rate maximum, which increased the benefit of purchasing permanent insurance in some cases but generally does not affect a typical life insurance purchaser. 
  • Third, there are different regulations for life settlements which also will not affect your basic life insurance policy. 
  • Finally, there are some changes in regulations for life insurance company finances which include a change to the time period required for capitalization and amortization of policy acquisition. It has increased from 10 years to 15 years. This may end up affecting the pricing of life insurance for the clients, depending on a few factors.

These changes have a great impact on people with vast estates, corporate life insurance purchasers, and a smaller impact on people purchasing personal life insurance, although you may find a change in prices and some tax benefits to your family. Due to these changes in the TCJA it is recommended that you keep any policy you have, and upgrading or purchasing a policy now will also be beneficial to your family over the next 8 years of the change.  

If you have any questions or are ready to purchase life insurance, contact us at Bye Financial Group, LLC. We proudly serve the people of Grand Ledge, MI. 

 

How Can Commercial Insurance Help Injured Employees?

Injured employees pose a serious risk for both the employee and the employer. For those employers that have dealt with employee injury on site or in the workplace, a commercial policy may be the best way to insure that you are safe and that your employees are safe as well. For those that live in the Grand Ledge, MI area, the agents that work at Bye Financial Group, LLC can help you to find the policy that protects you and your workers.

Workers Compensation

One of the most significant issues that an employer can deal with is the injury of an employee. Without some insurance coverage, there is no way that you can help the employee without using your own money to pay for the medical bills and the time off work. A commercial policy can help those that have injured employees in a few different ways. It can first and foremost help to pay the medical bills of the injured person and can help pay for time off work as well. If the employee decides to sue the store or workplace, it can also help pay to settle the issue and help to pay for any legal fees that are associated with resolving the case.

It can also help to protect your business. Rather than the employee being able to sue the business itself, they will be able to get compensation from the insurance policy so that you can then continue working and can prevent the shut down of the business while the issue with the employee is handled. For those that live in the area of Grand Ledge, MI, the agents at Bye Financial Group, LLC can help you find the perfect insurance policy so that you can be sure both you and your employees are protected.

Why is Health Insurance Required?

Health insurance is something that has been required in the United States for a few years now. Knowing why health insurance is required is just one way that you can understand the need for health insurance. For those that live in the Grand Ledge, MI area, the agents with Bye Financial Group, LLC can help you to find the health insurance that works best for you.

Health insurance is something that is required in the hopes that it will help to reduce the overall costs of health coverage and health care across the board. The idea is that if everyone has health coverage, the cost of health coverage for all will decrease as the hospitals and doctor’s offices will be able to rely on the health insurance to cover their costs rather than having to incorporate them into the overall cost of procedures for everyone. Having health insurance helps to cut the cost greatly and can help you to cut your own costs so that you are not having to pay out of pocket for all your healthcare needs.

Though it is required to have health insurance, it is also a very important thing to have in case of emergencies. It is important to have health insurance so that if something were to happen, you would not be put into financial strain by trying to cover the costs of the bills. Health insurance is something that can help cut the cost of your healthcare dramatically and offers many advantages including annual check-ups, pharmaceutical coverage, and much more.

For those that live in the Grand Ledge, MI area, the agents of Bye Financial Group, LLC can help you to find the coverage you need so that you can be healthy, happy, and in compliance with federal law. Reach out to our offices to learn more.

Is It Time To Upgrade My Life Insurance Policy?

Do you remember when you last reviewed your life insurance policy? If not, you are probably long overdue for a checkup. If you or your family members have experienced significant life changes since purchasing your life insurance policy, it may need to be updated to reflect those changes. If there have been no major life changes, you still may have experienced a shift in your financial goals that need to be addressed. To ensure that your life insurance policy meets your family’s security and financial needs, it’s a good idea to contact your Bye Financial Group, LLC agent to review your policy yearly to make the necessary adjustments.  

When Should I Update My Life Insurance Policy? 

There are many compelling reasons you might want to consider adjusting your current life insurance. Here are just some of the more important life changes that call for a re-assessment of your coverage.  

  • You have recently gotten married or divorced 
  • You have a new baby or other dependents 
  • You are planning to retire 
  • You have purchased a new Michigan home 
  • You have experienced a change in salary or employment 
  • Your children have moved out of the home 
  • You started or sold a Michigan business 
  • Someone in your household needs higher education funding 
  • You have received an inheritance 
  • Your spouse or child has died 

If any of the above life changes apply to your personal circumstances, it is time to look over your life insurance policy and make needed upgrades. Every person and family has different needs and circumstances, so every life insurance policy should be tailored to those unique situations. Making sure your policy meets your family’s security and financial goals will give you peace of mind and reassurance that everything is in perfect order. If you haven’t reviewed your life insurance policy recently, it’s time to meet with your Bye Financial Group, LLC agent and evaluate your changing needs.  

Commercial Insurance for a Lawn Care Business

Lawn care businesses no matter how large or how small need to be covered by a commercial insurance policy. A basic business insurance policy will protect you against any mistakes or accidental property damage caused by you or an employee to a client’s property. If you employee anyone other than just yourself, then worker’s compensation insurance is a requirement. Employers’ liability insurance will protect you from employees who could potentially sue the company over pay discrepancies or work-related accidents. This type of coverage also includes damages if an employee is injured while operating company machinery or other vehicles, and if they damage someone else’s property with that equipment or vehicle.

If you are the sole proprietor of the lawn care business and do not carry the proper insurance, then you could be held personally responsible for loss or damages. This could result in losing your business and even personal property like your home.

General liability insurance will help protect you in the event a customer files a lawsuit due to an incident on company property or while you were performing a service on their property.

Bye Financial Group, LLC in Grand Ledge, MI can help lawn care business owners assess the needs of their individual company. A knowledgeable insurance agent will discuss the types of insurance and the coverage each one provides. Beyond the basic liability coverage every lawn care business needs, there are also policies to protect against the following:

  • Theft

  • Loss of inventory

  • Identity theft protection

  • Property damage

  • Insurance for company vehicles

Stay on top of your lawn care business insurance by discussing the policy every year with Bye Financial Group, LLC in Grand Ledge, MI. This will ensure that you are covered in the event of an accident or lawsuit. Your agent can work with you to fine-tune the details of the policy and answer your questions.

Most Important Features Your Health Insurance Should Include

You purchase health insurance for yourself and your family so you can make sure you are prepared for small and large health care needs and expenses. And you want to be sure that insurance includes the necessary features. Here are the most important ones to make sure your insurance encompasses.

Specific Coverage

Your health insurance should cover the medical needs you have without covering those you don’t have. For example, if you anticipate having a baby, make sure your policy covers prenatal and maternity expenses. Also, make sure it includes adequate and quality coverage for baby and child medical expenses. If you do not plan to have a baby, you do not need this type of coverage, so it’s fine to get a policy that doesn’t emphasize such coverage.

Pre-Existing Conditions

If you or someone in your family has a pre-existing condition, you probably want a health insurance policy with coverage for that. Keep in mind that policies differ as far as what they cover when it comes to pre-existing conditions. So inform yourself, and consider your options wisely and carefully. Bye Financial Group, LLC, serving Grand Ledge, MI area, can help you do this.

Affordability

Most people have a budget that puts a cap on how much they can spend on health insurance and medical needs. Figure out how much you can afford per month in health insurance costs so you know which insurance is affordable for you when you look at options. Ideally, you want to get the best coverage you can while still keeping the cost reasonable.

There are other aspects that your health insurance should include depending on your specific needs. Consider what you and your family need and what you can afford when determining the features that are best for you. Bye Financial Group, LLC, serving the Grand Ledge, MI area, would be happy to help, so get in touch when you’re ready to look into health insurance options.

How to Determine the Type of Life Insurance You Need

When it comes to life insurance, there is more to determine than how much you need and if you even need it at all. If you are considering getting life insurance, then you need to know about the different types available. This will help you determine the best option for you to purchase from Bye Financial Group, LLC, serving Grand Ledge, MI.

  • Term Life – Term life insurance is the type of insurance that is set for a specific number of years. The number of years depends on your policy, but you can usually purchase it for 10, 20, or 30 years at a time. 
  • Whole Life – Whole life insurance is a type of life insurance that is a bit more expensive, but it will last for the life of the individual. You pay the premium for a set number of years, and once you are done, you will have the policy for life. There is also sometimes an investment vehicle. 
  • Universal Life – Universal life is a blend of both term and whole life. This usually does not last for someone’s entire life, but it does sometimes last longer than term and also has that investment vehicle option for the individual to take advantage of.

Now that you know the types of insurance policies available to purchase, you can better determine the best one for you. If you are still unsure of which one you need, be sure to reach out to us here at Bye Financial Group, LLC, serving Grand Ledge, MI, today. We can explore all of the options with you and find the right one for your situation. Reach out to our agents to learn more.

What Are Professional Disputes and How Can Commercial Insurance Help?

There are certain terms that small business owners may not be aware of before they begin work. This is usually because they’re focusing their minds on other matters, yet it can often hinder an owner not to think ahead when serving their clients. Bye Financial Group, LLC wants the people of Lansing and Grand Ledge, MI to have all the facts before they decide on commercial insurance for their company. 

What Is a Professional Dispute?

A professional dispute is typically something that stems from a client’s dissatisfaction. Let’s say you supply children’s birthday cakes to a variety of different neighbors in the area. One day you accidentally get two birthday cakes confused, and the wrong ones go home with the wrong people. Whether you think it’s justified or not, a client could demand an extraordinary amount of money because they feel you ruined their party. If you decide not to pay it, they may choose to take legal action against you. 

How Commercial Insurance Can Help 

Most commercial businesses have a general liability policy that protects them against a variety of mistakes that they may make (e.g., product defects, etc.) However, this policy won’t typically cover any professional disputes. Businesses in Lansing and Grand Ledge, MI should be doing everything they can to prepare themselves for many different claims that come their way, and Bye Financial Group, LLC can help. Our staff is available to help you decide what the right amount of coverage is for your business, regardless of what you do. Even if a lawsuit for a professional dispute is dismissed, it can still disrupt a company in a number of ways. Call us today if you want to minimize the negative effects of a professional dispute. 

Why is health insurance important?

Bye Financial Group, LLC in Grand Ledge, MI does not stop finding creative ways to provide you with affordable coverage.

Why Health Insurance? 

  • Uninsured people are at risk. In 2001, a study by the Institute of Medicine found that a lack of medical insurance is associated with about 18,000 deaths. In 2009, according to the American Journal of Public Health, nearly 45,000 Americans would die annually as a direct result of being uninsured. Further, a study completed at Harvard Medical School found a mortality hazard ratio of 1.40, which meant that for those Americans without health insurance, they were 40% more likely to die than those with health insurance.
  • Those without insurance receive less timely medical care with poor health outcomes.
  • A more significant portion of the dollar is spent out of pocket causing a financial burden for families.
  • While safety-net care from hospitals and clinics improves access, this is not a substitute for health insurance. 

Stop Gap Short Term Health Insurance

The bottom line is to receive some form of healthcare insurance, even if it’s for the short term. Short-term policies are used when you begin a new job and need the temporary coverage between the waiting periods, you lost your job looking for an alternative to COBRA, you may have missed the ACA deadline, or you are over 26 and no longer qualify to be on your parent’s plan.

At Bye Financial Group, LLC in Grand Ledge, MI, our agents stay up to date with all the changes in healthcare policy. We are here for you. Questions? Please call us!