Life & Health Insurance Coverage

INDIVIDUAL LIFE AND HEALTH
Life insurance may be one of the most important purchases you'll ever make. In the event of a tragedy, life insurance proceeds can help pay the bills, continue a family business, finance future needs like your children's education, protect your spouse's retirement plans, and much more. We can help you gain a better understanding of life insurance and its role within a sound financial plan, and answer many of your questions.

If you’ve ever been sick or injured, you know how important it is to have health insurance coverage. Health insurance pays for things big and small, from a lab test that might cost $75 to a hospital stay for major surgery that could cost thousands of dollars. It gives you peace of mind of knowing that no matter what kind of care or procedure you or a family member might require, you won’t have to worry about shouldering the cost on your own.

 

INDIVIDUAL DISABILITY
Your income is your most valuable asset. Protecting your income allows you to continue to enjoy what it pays for - your home, your cars, your food, college and vacations - from now until the day you retire. Individual disability income insurance is the protection you need to help you maintain your lifestyle and protect your family's future if you become too sick or hurt to work. Call The McCall Agency, Inc. today and find out how you can protect you and your family with Disability Insurance.

LONG TERM CARE
Long Term Care includes a wide range of medical and support services for people with a degenerative condition (e.g. Parkinson's, stroke, etc.), a prolonged illness (cancer) or cognitive disorder (Alzheimer's). Long Term Care is not necessarily medical care but rather "custodial care." Custodial care involves providing an individual assistance with activities of daily living or supervision of someone who is cognitively impaired.

GROUP LIFE AND HEALTH
We provide group insurance products to unions, jointly managed trust funds, organized employers and supplemental voluntary insurance programs. These products help labor to create, protect or enhance plans they provide to members and their families. Give us a call at The McCall Agency, Inc. to find out more about our Group Life and Health Insurance.

ANCILLARY BENEFITS
Ancillary Insurance products are a great way to enhance employee benefits, regardless of the type of business. Employees find significant value in these popular products and are often accustomed to receiving such benefits from a previous employer. While often these products are voluntary and paid completely by the employee, they provide significant value to your employees. Since these premiums are paid with pre-tax dollars, your organization often saves FICA taxes when an employee purchases these products. This provides value for both the employee and the organization.

SECTION 125
The Section 125 Plan provides tax savings by reducing employee medical premiums from gross salary prior to calculation of federal income and Social Security taxes, as allowed under Internal Revenue Code (IRC) Section 125. The Section 125 Plan reduction does not reduce the salary on which your maximum deferral limit for the Voluntary Investment Program is calculated. The reduction does, however, lower the salary on which both Social Security and unemployment benefits are calculated. While the actual impact on the benefit calculation is typically very minor, if you are concerned and you are close to beginning a Social Security benefit, you may wish to consider waiving the Section 125 Plan for your medical premiums. They would then be taken as an after-tax deduction. Contact Social Security for more about how your Social Security income is calculated.

HSA, HRA, FSAs
HSA is a Health Savings Account. With an HSA, traditionally money may be taken from your paycheck before taxes or you can open up an individual HSA account and contribute money on your own. Your employer or a family member can also contribute to your HSA. To qualify for an HSA you must be a member of a "high-deductible health plan." This means that your plan — in many cases a PPO — requires that you pay a certain amount of money up front before your plan coverage kicks in. The great news is that your HSA funds can be used to pay for this deductible. You can also use this money into the future — letting you save for medical expenses down the road. So, even if you chicken out on your LASIK eye surgery, you don't lose that money. Call The McCall Agency, Inc. about the savings opportunities and tax advantages an HSA could provide for you.

An HRA is an account offered to employees or retirees, where you can use the money to pay for deductible and co-insurance amounts, or covered medical expenses. Like an HSA, leftover dollars generally can be used from year-to-year, as long as you continue to be a member of the plan. Also, the money is contributed by your employer and doesn't count as income; saving you valuable tax dollars — complete with Uncle Sam's stamp of approval.

FSA is a Flexible Spending Account. With an FSA, money is taken from your paycheck before taxes (you set the amount) and put into an account. You can then use that money to pay for medical expenses throughout the year. It's important to understand that FSAs have a "use it or lose it" provision — meaning that you must use the dollars in the year in which they are saved or you will lose them at the end of the year.

Call The McCall Agency, Inc. today to find out the most appropriate life and health insurance coverage for you and your family.

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