Muneris is dedicated to providing Virginia residents with individual and family insurance coverage that meets their coverage needs and budget. We are an independent agency providing health insurance, medicare supplements, long term care, disability insurance and life insurance .
When you call us, it’s more than a quote; it’s about providing you peace of mind at an insurance rate you deserve. You can save on insurance without reducing protection, by asking the right questions, shopping the insurance marketplace and finding discounts. Call us at (888) 686-3741, visit one of our locations or request a quote online.
When it comes to individual health care, there are many choices available from plans with low deductibles and co-pays to put you in control and save valuable premium.
Muneris assists you to find the right coverage by helping you navigate your options under the Affordable Health Care Act. For a complete summary of your individual options with all available carriers in your area, please call our office at (888) 686-3741.
The Affordable Care Act (ACA) and Exchanges
Exchanges (also called “marketplaces”) are online markets where consumers and small businesses can go to shop for health insurance. They are organizations setup to facilitate the purchase of health insurance according to the Patient Protection and Affordable Care Act. The Patient Protection and Affordable Care Act (ACA) is commonly known as “Obamacare”.
Exchanges or “Marketplaces” assist in providing standardized health insurance plans for individuals and families. Individuals may qualify for federal subsidies provided under the The Patient Protection and Affordable Care Act.
What is a subsidy?
Subsidies provide cost assistance on your premium and out-of-pocket expenses. The types of cost assistance are Premium Tax Credits, Cost Sharing Reduction Subsidies (CSR), and Medicaid / Children’s Health Insurance Program (CHIP).
Premium Tax Credits
Advance payments of the tax credit can be used right away to lower your monthly premium costs. If you qualify, you may choose how much advance credit payments to apply to your premiums each month, up to a maximum amount. If the amount of advance credit payments you get for the year is less than the tax credit you’re due, you’ll get the difference as a refundable credit when you file your federal income tax return. If your advance payments for the year are more than the amount of your credit, you must repay the excess advance payments with your tax return.
Cost Sharing Reduction Subsidies (CSR)
Cost Sharing Reduction Subsides (CSR) help to lower out-of-pocket costs, based on income on Silver plans bought on the Health Insurance Marketplace. CSR subsides are provided in addition to advance premium tax credits.
CSR eligibility is based on your income and must be between 100% and 250% of the federal poverty level (FPL).
Medicaid / Children’s Health Insurance Program (CHIP)
Medicaid and CHIP is administered by states and funded by the federal government to provide health coverage.
Eligibility is based on an individuals need to satisfy federal and state requirements for residency, immigration status, documentation of U.S. citizenship and minimum income level of 133% of the federal poverty level. States have the option to expand Medicaid coverage to everyone under 138% of the FPL.
How do I Calculate My Subsidy?
Your subsidy is based on your income, age, and family size to estimate your eligibility for subsidies and how much you could spend on health insurance. To get an idea of the cost assistance you qualify for, you can use the Health Insurance Subsidy Calculator provided on our website.
Long Term Care Insurance
Do you have a plan for Long Term Care Insurance?
Long Term Care may be the biggest age related challenge we face. As people live longer, the possibility of someday needing coverage increases. Careful planning can help you offset the high cost of services without exhausting your assets.
Adequate coverage gives you the peace of mind and ability to deal with long term illness, chronic conditions and unforeseen medical issues at any age.
What is Long Term Care
Long term care is care in a nursing home, paid home health care provider, family caregiver or friend that provides you care in your home. This is the supervision or assistance you may need when you are not able to do the basic activities of daily living (ADL). Services can include medical and non-medical care.
Basic Activities of Daily Living (ADL) examples:
- Moving in and out of bed
Most people insure their material possessions—their homes and cars, for example. But many of these same people don’t insure what is probably their most valuable asset — their ability to work and earn income.
If you become sick or are injured and can’t work, will you be able to pay your bills and maintain your standard of living? If you depend on your income to pay the bills, you need to seriously consider buying disability income insurance.
Disability income insurance can help you pay your bills by replacing a portion of your income. It can help you maintain your current lifestyle and help protect you and your family from going into serious debt.
Your chances of being disabled at some time during your working career are probably higher than you think.
According to the Social Security Administration’s Disability Benefits brochure, “Studies show that a 20-year-old worker has a 3-in-10 chance of becoming disabled before reaching retirement age” (SSA Publication No. 05-10029: www.ssa.gov/dibplan/index.htm).
Of course, the chances that any one individual will be disabled before retirement depends on many factors, including age, general health, and occupation. At Muneris Benefits, we can help you design the right disability protection based upon your needs and budget.
Life Insurance to protect your family & your future.
Life insurance is often seen as a difficult topic to discuss because the majority of people do not want to think about dying. Although some of us can identify with this process, it is important to think of life insurance as offering peace of mind for your loved ones.
- 68 million adults have no life insurance at all.
- 48 million households don’t own life insurance, believe they should or own life insurance & believe they need more.
- On average, households saying they need more insurance own enough life insurance to replace their income for 2.8 years, but thought they should have enough to cover 6 years of income.
The Need for Life Insurance
Life Insurance is a cornerstone of your financial protection. Coverage can provide you needed cash in the event of an unforeseen event and may help you provide funds to:
- Pay off a mortgage
- Pay for your final expenses
- Pay for education and childcare costs
- Pay off outstanding debts
- Provide Estate Liquidity
- Provide lifetime income to spouse or child
- Ensure business liquidity – Key Man Protection
- Fund business Buy-Out Arrangement
Types of Life Insurance
Policies differer based on the insurer and its coverage offerings. Variables may include, but are not limited to: death benefit, cash value, policy riders, coverage term, and convertibility.
Term Insurance has no cash value, lower premiums with level premium payments and coverage for a specific period of time (term). Typically, these terms can be 5, 10, 15, 20 and 30 years.
Permanent Insurance offers lifelong protection and builds cash value. Permanent insurance can offer flexibility of premiums and design options to the insured. Cash values may be accessed with loan, partial surrenders or surrender of the policy. Cash Value can be helpful for situations like: emergencies, supplementing education costs or retirement income.
A few common types of permanent insurance are:
- Whole Life
- Universal Life
- Indexed Universal Life
- Single Premium Whole Life
- Single Premium Universal Life