Author: Rick Lindquist, Expert on Health Insurance and Business

Why does your employer offer health insurance? Is it because they care about your health?

NOPE. The primary reason companies offer health insurance today is for recruiting and retention purposes. That is, health insurance is a valuable form of compensation because:

1. It is tax deductible to the business
2. Employees get the benefit 100% tax-free

As a result of this enormous tax advantage, $1 in health benefits may be worth $1.50 – $2.00 in pay to an employee depending on his or her family’s tax bracket.

Additionally, the $1 in health benefits costs the company less than $1 in pay. (Remember, it’s tax deductible to the business so the company does not have to pay payroll taxes!)

So, when did health insurance become tax deductible to businesses?

Health Insurance Became Tax Deductible in the 1940s

The history of employers providing workers with health insurance goes back for decades. In the early 1940s, the federal government changed the tax laws to allow businesses to provide health insurance coverage as part of an employee’s compensation package 100% tax-free.

How World War II Created Employer-Sponsored Health Insurance

During World War II, workers demanded wage increases that were prohibited by wartime wage and price controls. To grant a concession to labor without violating wage and price controls, Congress exempted employer-sponsored health insurance from wage controls and income taxation—in effect allowing off-the-books raises for employees in the form of non-taxable health benefits. This created an enormous tax advantage for employer-sponsored health benefits over health insurance purchased by employees with after-tax dollars (e.g., auto insurance). By the mid-1960s employer-sponsored health benefits were almost universal.

Employer-sponsored Health Insurance Today

Millions of working Americans believe that the only way they can get health insurance is from their employer. Until recently, their belief was accurate. But in the past few years, a quiet revolution has changed the health insurance options available to employees, self-employeds, and small businesses: defined contribution health benefits.

HEALTH REIMBURSEMENT ARRANGEMENTS

101 Customizing and Controlling an Employee Health Benefits Plan that Makes Employees Happy.

PREFACE

Continual increases in healthcare costs have adversely impacted U.S. businesses’ ability to provide health benefits. Smaller employers have been particularly hurt, and many have dropped group plans because they have become too expensive. Mid-size businesses cope with rising costs by shifting more of the burden to their employees and their dependents. In response, businesses of all sizes are taking a careful look at using Health Reimbursement Arrangements, or HRAs, as an integral part of their health benefit plans.

WHICH BRINGS US TO…

You want to provide quality health benefits for your valued employees. But for a small business, a traditional group plan may not be cost effective.

THAT’S WHERE HRAS COME IN.

HRAs provide an effective way for businesses to reduce their employee healthcare costs without reducing employee benefits. HRAs allow employers to offer employees more choices and provide better benefits per dollar. Since employees pay up-front for their medical expenses, HRAs let employees see where they are spending their health dollars so that they can make better-informed healthcare decisions. This results in cost savings for the employee and employer.

RISING HEALTHCARE COSTS

While increases in health insurance costs have slowed over the past several years, they continue to rise faster than wages and inflation.

SMALL BUSINESSES HIT THE HARDEST

A full 99 percent of employers with 200 or more employees provide group health insurance plans for their employees. However, only 59 percent of employers with three to 199 employees provide employee health plans, down from 68 percent in 2000. (The Kaiser Family Foundation, 2007)

WHAT IS AN HRA?

An HRA is a Health Reimbursement Arrangement. An HRA is an employer-funded plan that may be used to reimburse employees for medical expenses. An HRA is not health insurance, but can be used to supplement health insurance benefits and pay for a range of medical expenses not covered by insurance. HRAs are notional arrangements; no funds are expensed until reimbursements are paid. In addition, reimbursements made are tax-deductible for the employer and tax-free to the employee.

All employees and former employees may be eligible to participate in an HRA. Employees need not have health insurance coverage to participate; however, the employer can require employees to have insurance coverage to enroll in the company’s HRA plan. For employees, HRA reimbursements are not taxable, and fund balances can roll over to subsequent years. Unless the employer decides otherwise, employees cannot take unspent funds with them when they leave the company; rather, unspent funds remain with the employer. Employers determine the reimbursement amounts, and there is no maximum set for how much employers may allocate to an HRA.

HRAs may be used to cover a wide range of medical expenses. Employers have great discretion in what they choose to reimburse. These expenses include health insurance deductibles, copays and coinsurance; dental and vision care; prescriptions; and many other expenses such as smoking cessation and certain weight-loss programs. For a complete list of covered benefits, contact Zane Benefits.

HRA ADVANTAGES

Predictable Costs

Employers can determine their maximum liability when setting HRA funding amounts. No actual costs are incurred until employees receive reimbursement. So to the extent employees do not use all the funds available to them, employers do not have to pay the total amount allocated.

EMPLOYEE CHOICE

When employees see the cost of healthcare and can carry over unused HRA allocations to use as they see best, they become smarter healthcare service consumers. They can decide whether or not to incur a medical expense. This typically results in better-informed decisions and decreased healthcare spending.

Flexibility

Employers can customize all components of their HRA. If they wish, they may integrate the HRA with various types of health insurance. For example, employers may choose to offer group insurance with an HRA, or they may use the HRA to help employees pay for individual health insurance premiums.

Different Employees, Different Benefits

Employers can set up different benefits for different employee classes. For example, rather than allocate $200 across the board, they can allocate $300 per month to attract and retain hard-to-find programmers and allocate $175 to another class.

Tax Advantages

Employers may deduct the cost of an HRA as a business expense under IRS Code section 162. HRA funds are also allocated to employees using pre-tax dollars; employees are not taxed on reimbursements received.

Cost Savings

Employers with group coverage may opt for a high-deductible plan and then reimburse employees for under-deductible payments. This can result in significant premium savings, a portion of which may be used to fund HRAs. Small employers who cannot afford to offer group health insurance may reimburse employees for deductibles and premiums on individual health insurance policies (with some restrictions), which may cost far less than group insurance.

Expanded Coverage

Employers may choose to expand employee benefits by reimbursing eligible medical expenses not covered by group insurance. This can include wellness benefits such as weight-loss programs that reduce overall employer healthcare costs over time.

HRA, HSA, AND FSA WHAT’S WHAT, AND WHAT’S APPROPRIATE?

Health Reimbursement Arrangements (HRAs) differ from Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs). Each has unique advantages and is appropriate for different situations.

HRAs make sense when employers want to provide healthcare expense reimbursement, whether or not the reimbursements are intended to supplement or replace health insurance. HRAs are especially attractive for employers who want to provide employee health benefits but have been priced out of traditional group plans. HRAs are 100 percent employer-funded and controlled, and there is no maximum or minimum amount employers may contribute. Generally, employees cannot take unspent HRA funds with them when they change jobs, and self-employed are ineligible. In addition, HRAs allow reimbursement of employee individual insurance premiums.

HSAs may only be used in conjunction with HSA-eligible high-deductible health plans. Unlike HRAs, HSAs can include contributions from employers, employees and/or third parties. They provide an excellent option for self-employed and unemployed individuals purchasing their own health insurance, if they can afford the out-of-pocket costs of a high-deductible insurance plan. One major advantage of HSAs is that employer contributions are portable, so employees can take 100 percent of the money in their HSAs with them when they leave or change jobs. On the down side, regulations around HSAs are fairly complex, and most employees have difficulty understanding how best to use them.

FSAs allow employees to pay for medical expenses with dollars deducted from employees’ wages before taxes, reducing the employees’ overall taxable income. FSAs are 100 percent employee-funded. One drawback is that all funds in the FSA must be used by the end of the plan year. If employees overestimate their medical spending, they lose any money left in the FSA at the end of the plan year.

REAL LIFE HRA SUCCESSES

THREE DIFFERENT BUSINESSES REALIZE SAVINGS & OTHER BENEFITS 38 EMPLOYEES, EXPANDED BENEFITS A manufacturing firm in Pennsylvania had 51 employees. Before switching to an HRA, 38 employees participated in the group plan and paid $230,000 a year in premiums. The company raised the annual deductible on its group plan to $5,000 per person, dropping annual premium payments to $84,000 a year. At the same time, it established an HRA to pay employees’ under-deductible medical expenses, which cost approximately $37,000 a year. Switching to an HRA saved the company $104,000 or 45 percent, including HRA reimbursements and fees. Not only did the company save money, it was also able to provide better benefits to more employees, including dental and chiropractic coverage. The entire change occurred in fewer than 30 days.

EMPLOYEES, AND GROWING A growing 10-person technology company in Kansas needed to offer health benefits to retain key employees and recruit new ones. Group insurance proved to be too expensive, and the plans were too difficult to administer. Setting up an HRA that allowed employees to purchase their own health insurance (or use their spouse’s plans) allowed the company to offer all 10 employees complete health benefits for less than $100 per month per person.

EMPLOYEES, 67% SAVINGS Before learning about HRAs, a health management company in New Jersey with 42 employees raised its group health plan deductibles and gave every employee a Health Savings Account (HSA), which cost $100,800 per year. Much of the HSA money was spent on employees who had few medical expenses.

After learning about HRAs, the company cancelled its HSA and set up an HRA. Then it gave every employee a $200 per month HRA allowance, which it supplemented with accident medical insurance. The company now pays only to reimburse expenses actually incurred that are not covered by the group or accident policy. The company saves $67,000 on its health plan, or 67 percent per year.

“HRAs are especially attractive for employers who want to provide employee health benefits but have been priced out of traditional group plans.”

HOW TO IMPLEMENT AN HRA PLAN

IN FOUR EASY STEPS

1. CHOOSE  AND HRA ADMINISTRATOR

Your administrator should get to know your business

•They will help you design, implement and manage the plan

2. DESIGN THE PLAN

•Based on your specific business needs

•Create all required plan documents

3. DISTRIBUTE DOCUMENTS

•Inform employees via official documents

•Obtain Summary Plan Document (SPD) signatures

4. PARTICIPATES SUBMIT CLAIMS

•Employees choose health plan online or through a designated Licensed Benefits Consultant

•Participants submit claims and are reimbursed for eligible medical expenses

HRA ADMIN SOFTWARE AND HOW IT CAN MAKE YOUR LIFE EASIER A good HRA Administration software program can be worth its weight in gold. The program should allow you to manage your HRA in just minutes each month, while ensuring compliance with regulations such as HIPAA. Features To Look For:  Online plan setup with the option for assistance  Employee communication tools and sample letters  Ability to obtain electronic signatures  Ability to set up different employee classes  Pay claims as approved rather than requiring pre-funding, so no expense is incurred until claims are reimbursed  Provide an array of plan cost controls, which may include: o Exclusion of certain IRS-qualified medical expenses that the employer will not cover o Require deductibles, co-pays, and/or co-insurance to access HRA reimbursements o Ability to apply a percentage of out-of-pocket expenses employees must pay themselves before expenses are eligible for HRA reimbursement  Choose whether or not to reimburse insurance premiums  Pay down reimbursements over time when claims exceed fund balance  Change carriers without changing the HRA administrator  Allow employees to elect a limited-purpose HRA plan design that maintains their eligibility to open a Health Savings Account if they have qualifying insurance  ERISA-Compliant Employee Assistance with Personal Policies  HSA eligibility  Reimbursement can be made via check, payroll addition, or direct deposit

ABOUT ZANE HRA

ZaneHRA automatically makes employers compliant with all applicable ERISA, HIPAA and IRS regulations. ZaneHRA is SAS70 compliant and is distributed by leading health insurance agencies, carriers, payroll companies, and financial institutions.

EMPLOYERS

Find out how to offer employees top quality health benefits for much less than the cost of traditional insurance. Get a no obligation demonstration and learn how much you can benefit from ZaneHRA!

AFFILIATES

Help your clients offer Defined Contribution Health Plans that reduce costs while improving benefits and retention. Sign up for a free personal sales website to start earning commissions today!

CONCLUSION

Health Reimbursement Arrangements allow employers to offer employee health benefits while controlling health plan costs. The flexibility, control and employer-employee shared responsibility make HRAs an attractive alternative to traditional group insurance plans. With continually escalating healthcare costs, employers owe it to themselves to investigate HRAs for their businesses.

REFERENCES CDG & Associates. (2002). “Legal Experts Explain Impact of HRAs.” Collaboration. Retrieved February 21, 2008, from http://www.cdg-inc.com/news/HRA.htm

Durgan, A., Burbank, J. (2007). “Final Regulations on HIPAA Nondiscrimination Provisions and Wellness Programs.” Retrieved February 21, 2008, from http://www.truckerhuss.com/articles/view_article.cgi?class=articles&article=_health_and_welfare_benefits/20070101_Final_HIPAA_Regulations_Nondiscrimination_Wellness.txt

Health Equity. (2008). “Learn About HSAs.” Retrieved February 19, 2008, from http://www.healthequity.com/abouthealthcareaccounts/learnabouthsa/faq.aspx/

Infinisource. (2007). “Comparison of Health FSAs/HRAs/HSAs.” Retrieved February 22, 2008, from http://www.infinisource.net/Infinisource/docs/COMPARISON_OF_HEALTH_ FSA_HRA_HSA.pdf

Saleem, H. (2003) Health Spending Accounts. Retrieved February 11, 2008, from http://www.bls.gov/opub/cwc/cm20031022ar01p1.htm

The Henry J. Kaiser Family Foundation and Health Research and Educational Trust. (2007). Employer Health Benefits, 2007 Annual Survey. Retrieved February 18, 2008, from http://www.kff.org/insurance/7672/upload/76723.pdf

The United States Department of the Treasury. (2007). “Health Savings Accounts (HSAs).” Retrieved February 19, 2008, from http://www.ustreas.gov/offices/public-affairs/hsa/

U.S. Office of Personnel Management. (2008). “High Deductible Health Plans (HDHP) with Health Savings Accounts (HSA).” Retrieved February 19, 2008, from http://www.opm.gov/hsa/chart.asp

On June 3rd, 2012,
MyInsuranceExpert.com will be participating in the Dexter Ann Arbor Run for the
second year in a row. Last year, our dedicated team of runners, better known as
“Follow Me to the Beer Tent,” raised an impressive $5,500 (and a lot of
eyebrows in the process) for 3-year-old, Alex Mandarino who is suffering from a
rare cancer known as Neuroblastoma.

This year, we’re once again
strapping on our running shoes and putting on outrageously short shorts to run
in support of Detroit community activist group, the Motor City Blight Busters.

For over 22 years, the Blight
Busters and its 120,000 volunteers have dedicated almost 700,000 hours to the
mission of restoring Detroit to greatness. The organization is integral in
revitalizing neighborhoods by eliminating abandoned homes and creating assets
around which the entire neighborhood can galvanize – small businesses, urban
gardens, and more. For his leadership and vision, founder of the Motor City
Blight Busters, John J. George, was awarded the “Points of Light” award by
President Clinton.

If you are reading this, you’re invited to come with us! Two buses will be leaving
from MyInsuranceExpert.com on June 3rd, 2012. If you are participating in the
race the first bus will be leaving at 6am, otherwise feel free to join us on
the second bus ride at 10am. Simply RSVP via email no later then MAy 16th 2012
if attending.

Help us exceed our goal and
donate, or join us on the run!

To donate: http://www.mcblightbusters.org/donate.html

Join us in the race:www.dexterannarborrun.com

Check out all the excitement last year: http://myinsuranceexpert.com/blog/?s=dexter+ann+arb

The New Year is a great time to make resolutions about improving your health and wellness, but as we all know, it can be really tough to stick to your resolutions, especially when it’s January and it’s cold outside. But now that spring is here, perhaps it’s a good chance to revisit some of the top health and wellness trends for 2012 and see how these fit into your lifestyle for the rest of the year.

According to a study from the Values Institute at DGWB in Santa Ana, California, these are the top 5 consumer health trends for 2012. Even though 2012 is already 1/3 of the way over, it’s not too late to make big changes in your lifestyle, diet, health and wellness.

Here are the top 5 consumer health trends. How do these impact your health and lifestyle choices?

1. Seeking new sources of energy (drinks) and supplements: Energy drinks have become a popular way for people to increase their focus and sharpen their mental performance at work or at school – but health-focused consumers are also going to look for more natural sources of energy such as tea (especially green tea) and whole grains. The way we eat and drink affects the way we feel in numerous ways.
2. Getting more sleep: As we’ve written before, Americans don’t get enough sleep. Studies have shown that 76 percent of Americans want to improve their health by getting more sleep, and this is especially important for women. Two-thirds of women suffer from sleep deprivation. Not getting enough sleep also leads to higher risk of many ailments and health problems such as depression, anxiety, weight gain and high blood pressure.
3. Adopting a “Flexitarian” diet: We’ve written before about how Americans are eating less meat, not only for health reasons but also to save money on their food budgets. More Americans are becoming “flexitarians,” which means that they are eating less meat but without taking the full leap of becoming vegetarians.
4. Making wellness into a game: We’ve written before about how digital apps like RunKeeper can help you make your daily exercise routine into a “game” that can be shared with your friends on social media. Using digital devices and apps to create accountability for health and wellness goals is another of the big health trends for 2012. No matter what health goals you might have, whether it’s exercising more, quitting smoking or losing weight, chances are that “there’s an app for that.”
5. Smartphones become “doctorphones:” Instead of having to go to the doctor’s office for routine checkups and monitoring, smartphones are going to keep getting smarter at using health-specific apps to keep track of people’s health, such as blood pressure and other important medical information. If you have a chronic health condition, it will become easier to share your medical status with your medical care providers.

Are you ready to make the most of the rest of 2012? Whether you want to lose weight, eat better or just get more shut-eye, chances are there are many ways to make a positive difference in your health. And there are more tools, information and resources available online than ever before to help you make informed decisions. Good luck, and here’s to your health for the rest of 2012!

Eli Broad, a science writer for the New York Times, has written a new book called The Science of Yoga, which explores the history, risks and rewards of yoga. There is much more to yoga than most people might expect.

Here are a few of the ways that yoga can improve your health:

• Cardiovascular health: Most exercise is about boosting your heart rate – getting your blood pumping. Yoga has the opposite effect – it tends to lower the heart rate and reduce blood pressure. But this can be hugely beneficial to your health because yoga relaxes you, lowers your blood pressure, and relaxes your heart. Yoga has also been linked with lower cholesterol and triglyceride levels.

• Emotional health: Many people suffer from stress, depression and anxiety. These mental illnesses can also have physical repercussions, as people try to relieve their emotional symptoms by eating too much, drinking too much, or not taking care of their bodies because their minds are unwell. Yoga can help relieve emotional distress by helping people feel calmer, more relaxed, more at peace. Yoga can increase feelings of pleasure and well-being, making it easier to take on the challenges of daily life.

• Flexibility: Yoga increases the flexibility of the spine and other bones and muscles throughout the body. By holding various yoga poses, you strengthen your core and other muscles that you probably don’t get to use very often. It’s a full body workout! In one study, people gained a 35% increase in flexibility in just 8 weeks of practicing yoga.

• Posture: If you tend to slouch or suffer from back pain, neck strain or soreness in your shoulders, yoga can help you sit and stand straighter. The reason is that yoga develops the deep core muscles like the abdominals. Yoga also makes you more aware of your body so you can correct your posture and prevent slouching.

• Breathing: Yoga can increase lung capacity by deepening and lengthening your breathing.

One of the interesting ideas from the NPR interview with “Science of Yoga” author William Broad is that in the not-too-distant future, yoga might be prescribed by Western doctors as a way to treat chronic health conditions. Just as dentists recommend that people brush their teeth each day, doctors might soon recommend that people practice yoga each day as a way to maintain good health, lower their heart rate and reduce their emotional stress.

Medical science is still learning a lot of fascinating new information about how the ancient practice of yoga can benefit people’s health. Even though yoga has been practiced (starting in India) for 5,000 years, perhaps it will become “new” again not only as a popular fitness activity, but as a therapeutic way to improve people’s health.

Most people do not love buying life insurance. Have you ever heard someone say, “Guess what? I’m so excited – this weekend, my wife and I are going to BUY LIFE INSURANCE. Woooo!”

The #1 reason why buying life insurance is not a popular pastime? It’s complicated. It’s difficult. It’s hard to get “plain English” explanations for what it’s all about. It’s hard to know if you’re getting a good deal and it’s hard to understand the different options and benefits and price points from all the various life insurance companies.

If you’re talking to a life insurance agent from one of the big life insurance companies, it’s too often hard to know if you’re truly getting unbiased advice, or just a slickly-disguised sales pitch.

Fortunately, if you’re getting frustrated with the complexities of buying life insurance, there’s someone you can talk to: the life insurance advisors at MyInsuranceExpert.com.

Here are a few reasons why MyInsuranceExpert.com can help you understand the ins and outs of buying life insurance:

•  We’re “real people,” just like you. When you call MyInsuranceExpert.com, you’ll be talking to real people on the other line – real life insurance advisors who know where you’re coming from and know how to answer your specific questions. We know it’s complicated to buy life insurance. Many people feel confused or intimidated when trying to buy life insurance – after all, this is not always a “fun” topic and most people don’t like to think about death and the financial burdens that can result. Talk to someone who understands and can help you with your unique financial situation.
• We help you find the best life insurance companies. One big reason why life insurance is so complicated is because it’s a long-term promise between you and the company – you promise to keep paying your premiums each month, and the company promises to pay your survivors a benefit in the event that you die. This is kind of a big deal, right? It’s pretty serious stuff. You can’t afford to buy life insurance from a “fly-by-night” life insurance company. At MyInsuranceExpert.com, we give you a range of choices from the best life insurance companies – solid, financially strong, long-term players in the life insurance market.
• We help you find the right life insurance policy. At MyInsuranceExpert.com, we’re not about “high pressure sales” or trying to get our customers to make a quick decision. We know that life insurance is an important financial planning tool, and so you need to be prepared to spend some time thinking about what you want most from your life insurance. Do you want the highest amount of financial protection at the lowest premium cost? For how many years do you want coverage? Do you want to protect your family until your kids are 18, or even longer than that? How much income do you need to replace? What do you want your family to be able to do with the life insurance proceeds in the event of your death? These are all questions that you need to consider.

Another reason why life insurance is so complicated is that everyone’s situation is different, and every customer has specific goals and unique family considerations. A 25-year-old married couple with one child will have different needs than a 45-year-old divorced man who just got remarried and wants to start a new family with his 2^nd wife.

The amount and duration of life insurance coverage that you need depends on many factors, including your age, health, family size, family income, debts, assets and overall financial goals.

Buying life insurance is not always easy, but the helpful advisors of MyInsuranceExpert.com will do everything we can to help make it easier for you.

Are you looking for affordable life insurance from the best life insurance companies? Talk to the experts at MyInsuranceExpert.com. We have a team of dedicated advisors who can give you free life insurance quotes online. Whether you need term life insurance quotes or want to know the best term life insurance rates, MyInsuranceExpert.com offers you a selection of the best life insurance companies, to help you find the right life insurance policy to suit your needs.

Test time! First up, how smart are you? Secondly, how insurable are you?

One way to measure “smartness” is by I.Q. Most of us have taken an IQ test at some point in our lives, be it in school or for fun. IQ, or rather, Intelligence Quotient tests are conducted to assess a person’s intelligence. When you think about it though, these tests are not unlike applications for Life Insurance Quotes.

Let’s look at the two. IQ tests contain a set of standardized questions, which have been used and firmly established from ages of field research. On average, people’s IQ’s range from anywhere between 140 (very high) and 70 (pretty low). Typically, the higher your score, the more of a smarty-pants you are.

I.Q. tests have been used for many generations, and their results are carefully measured with considerable follow-up. There’s a reason why we still use this test, as it has been statistically successful at establishing a correlation between high score and high success.

With IQ tests being steeped in a rich statistical history, it’s no wonder they’re used as a benchmark for measuring people’s smartness. If we think about IQ tests in this way, it’s easy to see that life insurance applications operate very similarly.

When you apply for life insurance, the application is sort of like a mini-test. You answer questions about yourself, like your age, weight, health history, etc. Like the IQ test, there is no studying or other type of preparation involved. It’s an assessment of you and your circumstances at that moment.

Also like IQ tests, insurance applications are calculated based upon a wealth of statistics. The sheer volume of records and calculations allow insurance applications to effectively measure a person’s expected age of death based upon their health information. In short, a person with a high IQ is likely to have a successful career, and a person with great health is likely to qualify for a good life insurance policy that won’t break the bank.

Another similarity, however, is that these tests aren’t perfect. Scoring low on an IQ test doesn’t necessarily guarantee you’re “dumb,” and having some health problems won’t necessarily mean you can’t get the life insurance plan and price that you’d like.

Fortunately, there is a bit of a difference between the two tests.

No matter how many times you take an IQ test, it’s unlikely that your scores will change very much – you are who you are when it comes to your intelligence.

But with insurance applications, you actually do have some options. For example, if you work with a brokerage like MyInsuranceExpert.com, you often don’t have one path to take. Your answers to the insurance application allow for several different insurance companies to choose from. Your health conditions may be better tailored for one policy versus another, and you often have the luxury of options.

Furthermore, you usually have the ability to improve your health. If smoking is causing your insurance premiums to get too high, you can always quit the habit and re-apply later after you’ve been smoke-free for some time. You can always eat healthier and exercise more to get your body in the best shape possible. While it’s true that some health conditions don’t have a simple or controllable fix, there are many that can be managed with hard work, persistence, and time.

It may be true that an IQ test reveals the level of smartness you’ve been dealt in your life, and that there’s little you can do to alter that. But that’s not always the case for a life insurance application, as it not only shows you where you’re at (health-wise) but also, most importantly, how you can improve, and also what options are available to you.

If you’d like information and help on insurance applications, tips for improving your health, or if you’re looking for ways to save money, the LifeStream blog has all three areas thoroughly covered. Check out each tab above for dozens of compelling articles and videos – we dare you to find something that wows you!