JJ Consults

11/29/2023

Don’t let your FSA funds go to waste!

The deadline for using your Flexible Spending Account (FSA) funds is approaching fast. If you haven’t used up your FSA funds yet, now is the time to do so. Remember, if you don’t use your FSA funds by the deadline, you’ll lose them.

Here are some tips to help you make the most of your FSA funds:

⭐ Check your FSA balance and review your eligible expenses:
⭐ Schedule any appointments or procedures that you’ve been putting off.
⭐ Stock up on eligible items like contact lenses, prescription glasses, and first aid supplies
⭐ Consider using your FSA funds to pay for eligible over-the-counter (OTC) medications.

Don’t wait until the last minute to use your FSA funds. Act now and make the most of your benefits!

Remember, the deadline for using your FSA funds is usually December 31st, but it may vary depending on your employer’s plan. If you have any questions about your FSA, be sure to check with your HR department or benefits administrator.

11/09/2023

Healthcare may be more affordable than you think if you have Amazon Prime! Amazon has officially launched a new Prime membership benefit called One Medical. Amazon purchased One Medical in 2022, and it provides various services ranging from preventive care to urgent care to chronic care.

As a Prime member, you'll have unrestricted access to 24/7 on-demand virtual care nationwide, including video chats with licensed clinicians and quick treatment for common issues. You can also make same-day or next-day appointments in any of One Medical's hundreds of sites across the United States, where you will receive customized and unhurried care from your primary care practitioner. You can use your insurance or pay out of pocket for office appointments, and One Medical accepts most insurance companies.

The best thing is that this new Prime membership feature is only $9 per month (or $99 per year), saving you up to $100 off the usual One Medical membership charge. That means you can get high-quality, convenient, and reasonably priced health care for less than the cost of a Netflix subscription.

Currently, in-person locations include:

Atlanta
Boston
Cape Cod
Charlotte
Chicago
Columbus
Connecticut
D.C. Metro Area (DMV)
Dallas-Fort Worth
Denver
Houston
Los Angeles
Miami
New York
Orange County
Phoenix
Portland
Raleigh-Durham
San Diego
Seattle-Tacoma
SF Bay Area
Triad
Tucson

Prime members who sign up for this new service and reside close to a One Medical facility can also simply make same-day or next-day remote or in-person appointments at any of One Medical's hundreds of primary care facilities across the United States.

10/12/2023

I've observed a noticeable increase in the amount of folks commenting about starting new jobs in the last week. Congratulations, this is exciting news!

As a new hire or during open enrollment, our team of benefits consultants can be a valuable resource for maximizing your benefits. Here are three reasons why:

1) Expertise: A benefits consultant can guide you through the complex world of employee benefits. They can explain the many types of benefits available from your company and how they work, such as health insurance, retirement programs, life insurance, etc.

2) Customization: A benefits consultant can assist you in tailoring your benefits package to your specific requirements. They can assist you in selecting a suitable level of coverage for your health insurance and the appropriate retirement plan. Additionally, if you have student loans, they can help minimize your repayment amount; this is especially important if you have a spouse or partner.

3) Savings: A benefits professional can help you save money on your company's offerings. They can help you find the best strategies on before-tax offerings, identify tax-saving opportunities, and more.

Ready to optimize your employee benefits? Partner with our benefits consultants to unlock the full potential of your package. Reach out to us—we're excited to collaborate with you!

09/26/2023

I am a big proponent of taking a hybrid approach with life insurance by mixing term and permanent (Whole and IUL) policies.

September is Life Insurance Awareness Month, so I wanted to emphasize the differences between the two options and demonstrate how to boost your net worth immediately!

Financial planners, advisors, coaches, and strategists know that term life insurance does not increase your net worth; it is intended to give a death benefit for a set period, i.e. 10 to 30 years. It does not accrue monetary value or offer investing options, as does permanent life insurance.

Permanent life insurance policies, such as whole life or universal life, can potentially add to your net worth in several ways:

1️⃣ Cash Value Growth: These policies often have a cash value component that grows over time, thanks to investments made by the insurance company. This cash value can be accessed through policy loans or withdrawals, potentially providing you with a source of funds.
2️⃣ Tax Benefits: Some permanent life policies offer tax advantages. For instance, the cash value can grow tax-deferred, and if structured correctly, you may be able to access this money without incurring income tax at all.
3️⃣ Estate Planning: Permanent life insurance can be used as an estate planning tool to leave a tax-free death benefit to your heirs, which can increase your overall net worth by preserving your assets for your beneficiaries.
4️⃣ Asset Protection: In some cases, the cash value of permanent life insurance policies is protected from creditors, which can be advantageous for asset protection.

As always, it's essential to consider your financial goals and needs when choosing between these types of policies. Permanent life insurance tends to have higher premiums, so it may not be the most cost-effective option if your primary goal is pure protection for a limited period. Consulting with a financial professional can help you determine the best insurance strategy based on your specific circumstances and objectives.

05/02/2023

Are you considering group life insurance through your workplace? While it can be a convenient and low-cost option for coverage, there are also some drawbacks to consider.

Here's a breakdown of the pros and cons:

Pros:
✔️Convenience: Signing up for group life insurance through your employer is often straightforward and part of your hiring documents.
✔️Price: Basic coverage through work is typically free or low-cost for employees, providing a small amount of coverage.
✔️Acceptance: Most basic life insurance plans through work are guaranteed, so even individuals with serious medical conditions can qualify.

Cons:
❌Coverage is tied to your job: Group life insurance is often not portable, which means you may not be able to take the policy with you if you leave your job. This includes retirement.
❌Limited choice: Coverage through work tends to be a type of term life insurance, and employers usually work with only one carrier, limiting your options.
❌Low coverage amounts: If you have dependents or a lot of financial obligations, a group life insurance policy could leave you underinsured.
❌Premiums aren't fixed: The premiums for group life insurance go up either annually or every five years.
❌The company may not honor the coverage if you are out on leave. This includes sick, disability, family medical leave, etc.

To decide if group life insurance is right for you, consider taking advantage of any free basic group life insurance offered and comparing the cost of supplemental life insurance available through your work to what you can find on your own. If you can get a comparable deal on your own, it may be worth buying an individual policy to complement the group life insurance you're getting through the workplace. If you have a medical condition or are older, supplemental group life may be a good fit, but keep in mind the limitations, especially if you don't expect to stay at your employer for a long time.

01/15/2023

Tonight, January 15, 2023, is the last night to sign up for Healthcare through the marketplace.

10/05/2022

Porque Tu Importas

Tanto las personas presentes legalmente como las no presentes legalmente pueden presentar una solicitud

sitio web: https://bit.ly/3ydOdVR

09/29/2022

Capital One may owe you some money.

Qualified customers can collect up to $25,000 for lost time and expenditures stemming from a 2019 cyberattack, but time is running out.

https://www.cnet.com/personal-finance/capital-one-190-million-data-breach-settlement-tomorrow-is-the-last-day-to-claim-money/

Qualified customers can collect up to $25,000 for lost time and expenditures stemming from a 2019 cyberattack, but time is running out.

08/30/2022

Millions of student loan accounts exposed to data breaches.

https://www.securityweek.com/25-million-impacted-data-breach-nelnet-servicing

The data of more than 2.5 million individuals was potentially compromised in a data breach at technology services provider Nelnet Servicing.

08/03/2022

Consumer-scoring giant sent faulty scores for consumers applying for mortgages, car loans and credit cards, WSJ reports.