For many of us, life insurance is an essential part of our risk management plan; this is especially true if we have dependents. Determining how much coverage you need will vary and is based on personal and financial circumstances, such as your family’s composition, the amount required for immediate expenses, and the amount of ongoingContinue reading “How Much Federal Employees' Group Life Insurance Do You Need?”
Author Archives: Jose Armenta, MsBA, CFP®, ChFC®, CLU®, EA
Which Thrift Savings Plan Is Right For You? Roth Vs. Traditional
Having the choice of contributing to a Traditional TSP or a Roth TSP provides you with a significant tax planning option—but it does force you to make another financial planning decision. Many people find making this decision a challenge because there’s no one right answer for everyone, and it depends upon several factors. What’s NotContinue reading “Which Thrift Savings Plan Is Right For You? Roth Vs. Traditional”
Your Federal Employees' Group Life Insurance at a Glance
The Federal Employees’ Group Life Insurance (FEGLI) program provides group term life insurance to eligible Federal Government employees. Unlike whole life insurance products, the FEGLI policy does not build up any cash value, and you cannot borrow from your policy. There are four policy options: Basic life coverage and three forms of Optional coverage. EligibilityContinue reading “Your Federal Employees' Group Life Insurance at a Glance”
Quickstart Guide to Your Federal Employee Health Benefits
The Federal Employees Health Benefit (FEHB) Program provides comprehensive health care coverage for you, your spouse, and your children under age 26. The program does not have waiting periods nor restrictions for pre-existing conditions. Who Is Eligible? Most Federal employees are eligible, and retirees may be eligible to continue their FEHB coverage if they meetContinue reading “Quickstart Guide to Your Federal Employee Health Benefits”
Quickstart Guide to Your Federal Employee Disability Benefits
What is Disability Insurance? Disability insurance is a type of insurance that pays you a monthly benefit if you become disabled. You could think of it as an income replacement that can help you avoid the financial burden of losing your income if you are unable to work due to an accident, injury, or illness.Continue reading “Quickstart Guide to Your Federal Employee Disability Benefits”
How to Choose a Healthcare Plan
With today’s healthcare options resembling an alphabet soup, choosing a healthcare plan can seem like a daunting task. This quick guide will help you decipher the healthcare lingo and choose the right plan for you and your family. 1: Terminology It’s essential to understand key health insurance terms. Understanding the lingo will allow you toContinue reading “How to Choose a Healthcare Plan”
COBRA Health Insurance at a Glance
What is COBRA Insurance? The Consolidated Omnibus Budget Reconciliation Act (COBRA) requires most private sector and state or local government employers with 20 or more employees to provide a temporary continuation of group health coverage for employees who experience a job loss or other qualifying event. And many states have laws like COBRA that coverContinue reading “COBRA Health Insurance at a Glance”
Quickstart Guide to COBRA Health Insurance
What is COBRA Insurance? The Consolidated Omnibus Budget Reconciliation Act (COBRA) requires most private sector and state or local government employers with 20 or more employees to provide a temporary continuation of group health coverage for employees who experience a job loss or other qualifying event. And many states have laws like COBRA that coverContinue reading “Quickstart Guide to COBRA Health Insurance”
What is a Health Savings Account?
As healthcare costs continue to rise, employer-provided healthcare benefits are becoming a critical part of the employee’s arsenal. One such benefit gaining popularity is the Health Savings Account (HSA), a versatile and effective tool for saving for healthcare expenses. Let’s take a look at the plan’s requirements, advantages, and disadvantages. What is an HSA? AnContinue reading “What is a Health Savings Account?”
Quickstart Guide to the HSA
As healthcare costs continue to rise, employer-provided healthcare benefits are becoming a critical part of the employee’s arsenal. One such benefit gaining popularity is the Health Savings Account (HSA), a versatile and effective tool for saving for healthcare expenses. Let’s take a look at the plan’s requirements, advantages, and disadvantages. What is an HSA? AnContinue reading “Quickstart Guide to the HSA”