Is a healthcare savings account (HSA) right for you

These days, health care and health insurance are complicated and expensive. With high deductibles and even higher premiums, everyone is looking for ways to make their healthcare dollars stretch. At the Advantage Insurance Network in Cincinnati, OH we have experienced agents who can help you to navigate the maze of terms and policies. Here are some things that need to be considered when you are deciding whether a healthcare savings account is right for you. 

A healthcare savings account allows you to save money to pay medical bills and expenses with money you have saved pre-tax. Some employers have set up healthcare savings accounts for their employees but it is not required and if you don’t have an employer or get your insurance somewhere else besides your employer you are still entitled to set up a healthcare savings plan (HSA). 

HSAs have great tax benefits and it can save you a lot of money on your taxes. With an employer plan, you will see the savings in your paycheck, with your own plan, you will see the savings when you file your income tax return. 

What can you pay with an HSA:

  • Deductibles and copays
  • Prescriptions
  • Certain equipment
  • Glasses and hearing aids

If you set up your own HSA you must have an HDHP ( high deductible healthcare plan) be sure to check that your plan is eligible, it must have a deductible of  $1350 for singles and $2700 for families. 

For 2019 you are allowed to save up to $3500 for single coverage and $7000 for family and if you are over 55 you can save an additional $1000. 

Now that you have some of the facts, why not give one of our knowledgeable staff at Advantage Insurance Network in Cincinnati, OH a call or stop by our office and learn the rest.  We will be happy to give you a no-obligation quote and fill in all the other important information.  




Can Life Insurance Provide Money For College?

Life insurance is a great multi-purpose product that can help the policy holder and loved ones in a variety of ways. Not only does it provide coverage for a covered death, but it may also be a way to obtain funds in the future. One of the ways that this policy can help with finances in the future is by providing some funds for college.

Money For College

There are generally two types of insurance available to people who wish to purchase a policy. The most simple and basic is term life insurance. It is in effect for a specified amount of time and is purchased up front. The other type is whole life insurance and it is paid in increments each month. Whole life can not only provide financial protection for beneficiaries in the event of the death of the policyholder, but it can also serve as a source of funds later on when the policy has been kept active for a specified number of years. Depending on the policy, money may be withdrawn to be used for expenses such as college, or it may be borrowed against to help with tuition or emergencies. 

Selecting The Right Coverage

People who wish to purchase life insurance that can act as a financial cushion for future expenses such as college should work with a licensed life insurance agent who represents a reputable insurance agency. They can help clients find insurance products that can match present and future needs and explain how each works in detail. People who live in and around the Cincinnati, OH area should check out Advantage Insurance Network to discover high-quality life insurance products that provide options. 

People who are considering purchasing life insurance with options for college, should call or stop by Advantage Insurance Network serving the residents in and around the Cincinnati, OH area. 

Factors that Affect Health Insurance Costs

The most important type of insurance that you can have is health insurance. Today, many people are able to obtain health insurance from a wide variety of different networks and providers. When you are looking for health insurance, you may find that the cost of it can vary significantly. There are a variety of factors that will influence health insurance rates for people in the Cincinnati, OH area.

Risk Factors

Overall, the number one thing that will influence the cost of your health insurance is your risk factors. When you apply for health insurance, you will have to fill out a big questionnaire about your personal health and health history. Some of the items that were red flags will include whether you use tobacco, your body-mass index, and even your profession as some jobs come with higher levels of health and injury risk. 

Age and Gender

Even if you are in very good health, you also could have a fluctuation in health insurance costs based on your age and gender. In general, people tend to have more health issues as they age. Because of this, it is more expensive to get health insurance as you get older. Also, women tend to have higher health insurance premium than men due to the fact that they are more likely to go to the doctor. 

If you are looking for health insurance in the Cincinnati, OH area, you should start your search with the Advantage Insurance Network. This organization can help you figure out what type of coverage is right for you and then get you into a great policy. The Advantage Insurance Network can also answer any questions that you have about your health insurance options. 

How to Choose a Beneficiary for your Life Insurance

The next step after purchasing a life insurance policy is to choose a beneficiary. Your beneficiary is the person (or persons) who will receive benefits from your policy after you’re gone. Beneficiaries can be relatives, friends, colleagues or charities. Here are a few tips on choosing a beneficiary for your life policy.

Children and Spouse

If you are married, you’ll probably want your spouse and kids to be your beneficiaries. It’s only natural to want to provide for these loved ones after you’re gone. With the proceeds from your life insurance policy, your family will have funds to pay daily expenses, monthly bills, personal needs, school needs and more. Life insurance benefits can give your family financial stability after you’re gone.

Aging Parents, Business Partner, Significant Other

Singles could choose aging parents, a significant other, business partners or favorite charities in Cincinnati OH as beneficiaries or divide the proceeds among any of these. Life benefits can supplement your parents’ pension in their retirement years, giving them extra income to cover their needs. In the case of a business partner, proceeds from your policy can help pay your share of expenses to keep the company going after your demise. Life proceeds can also help a significant other pay off any debts you accrued while living together such as car loan or mortgage.


Many people choose charities as their beneficiaries, dividing proceeds to support their favorite causes. You can designate the number of funds you want each charity to receive or divide proceeds equally between the charities you choose as beneficiaries.

A life insurance policy from Advantage Insurance Network can go a long ways towards helping loved ones upon your demise. For more information on life insurance policies and costs, contact Advantage Insurance Network, Cincinnati, OH.

Should I Get Whole or Term Life Insurance?

Having life insurance in place is very important.  For those that are in the Cincinnati, OH area, one of the first things to do when choosing a new life insurance policy is choosing between whole and term life insurance.  It is very important to understand the differences between these policy types to ensure you make the right choice for your situation.  

Length of Coverage

One of the biggest differences between whole and term life insurance is the amount of time that it will provide you with coverage for.  Whole life insurance is a type of insurance that will provide you with coverage for your entire life.  During this time period, a small portion of your life insurance premiums will accrue and will turn into a cash value that can be liquidated at any time.  Term life insurance, on the other hand, will only provide you with coverage for a certain amount of time and will have no cash value.  

Cost of Coverage

The other major difference between whole and term life insurance is the cost of the coverage.  In general, the cost of term life insurance is much lower than it would be for a whole life insurance policy.  The cost of term life insurance will vary based on your age, current health status, and the length of the term of the policy that you want.  

Since picking the right life insurance policy is such an important decision, those that are in the Cincinnati, OH area should meet with the Advantage Insurance Network to discuss their life insurance needs.  The Advantage Insurance Network is an insurance agent that can help to explain all of your insurance options and help you get into a policy that provides you with the right amount of coverage.   

Having Health Insurance Can Preserve Your Good Health

Something you may not have considered before is the overall health benefits of having health insurance. Most people realize that having health insurance is a great idea, but did you know that people that keep health insurance coverage tend to be healthier? 

Maintain Good Health

The reason that people with health insurance are overall healthier is that they have access to preventative care that their coverage provides. Most insurance companies allow you to schedule regular checkups and screening for health conditions as part of their health insurance policy. This helps them keep their costs down by catching health conditions early on. When these conditions are detected early they are much easier and inexpensive to treat. People who wait to address serious health concerns are less healthy because they usually sustain serious damage to their overall health and well being as a result of their failure to participate in regular screenings and check-ups. Individuals with access to health insurance normally take full advantage of these allowed screenings and checkups because they want to lead healthy lives. It is a win-win situation for both the insurance company and the covered individual.

Health Insurance Coverage Pays Off

It may seem like a headache to have to pay your health insurance premiums monthly, but it will end up actually saving you money in the long run, and will help you lead a longer, healthier life. It is worth the investment in your self and your financial well being to maintain health insurance coverage. There are plenty of affordable plans on the market that will fit your individual needs. If you would like more information on health insurance coverage, contact Cincinnati, OH, Advantage Insurance Network.

If you want personalized service when selecting your health insurance coverage, you should call or stop by Cincinnati, OH, Advantage Insurance Network. The experienced and caring staff can help you get the coverage you need to enjoy good health for a lifetime.

Protect Your Disabled Loved One with Life Insurance

Life expectancy rates continue to rise. Currently, someone born in Cincinnati, OH can expect to live to the ripe old age of 76. If you are the primary caregiver for a physically or intellectually disabled loved one, this fact can be cause for great concern. Who will take care of your disabled loved one after you’re gone? Your life insurance policy can help provide financial support for your dependent adult.

Defraying the Financial Burden of Disability

Disabilities are expensive. The cost of equipment, specialized care, and frequent medical services can burden even the most affluent caregiver. Government payments like SSI and other assistance programs are helpful, but often don’t cover the full cost associated with raising a disabled person’s quality of life. It’s up to the caregivers to make up the difference with their personal income.

When a caregiver passes away, the cost of living for the disabled person does not change. Savings and trust accounts can help. However, it’s often difficult for people in these situations to save any meaningful amounts of money. An active life insurance policy will pay directly to your loved one or their designated caregiver. These funds can be used for medical payments, housing, or anything else they may need.

Ensuring Your Loved One’s Future

Caregivers should investigate their options before committing to any insurance policy or extended care plan. In some circumstances, inheritance money can affect their ability to receive certain types of government assistance. In these cases, a trust fund can be set up in your loved one’s name. The insurance would be paid out to the trust. The money could then be accessed by your loved one when needed, without compromising any other necessary payments they receive. The experts at Advantage Insurance Network can help you decide the best strategy for your situation.

Make sure all the special people in your life are taken care of after you’re gone. The representatives at Advantage Insurance Network can help you customize an insurance package that protects all the things you hold dear. Contact our office in the Cincinnati, OH area today.

Can I Take Out a Life Insurance Policy on My Ex-Spouse to Benefit Our Children?

One of the questions that we are frequently asked at Advantage Insurance Network, serving the greater Cincinnati, OH area, is whether you can take out a life insurance policy on an ex-spouse to benefit the children. Many ex-spouses are concerned that if their ex-passes away, the children will lose out on child support or financial support throughout their life. If you are wondering if you can do this, there are two things you need to know. 

What the Divorce Decree States

If you are trying to determine if you can take out a life insurance policy on your ex, one of the first places you may want to look is the divorce decree. In many cases, your ex is required to maintain any existing life insurance policies that benefit you or the children. If there are none in place, your decree may state you can obtain one with you and/or the children as the beneficiaries. 

If Your Ex Will Allow It

If your divorce decree does not state anything about a life insurance policy, you will want to talk to your ex about it. If you agree to pay the premiums and it benefits the children, they may have no issue with you doing it. However, if they do not want you to, there typically is nothing you can do about it. In most cases, you have to have their permission or consent in order to take out a life insurance policy on them. 

If you are looking to take out a life insurance policy on either yourself or your ex-spouse to benefit your children in the greater Cincinnati, OH area, Advantage Insurance Network would love to help. Call us today and one of our friendly agents will help you get started. 

Do children need to have life insurance?

Every parent is familiar with the deluge of mail that arrives after their child is born.  a new baby brings joy, but it also tends to bring a lot of offers for everything from formula to diapers.  Buried in all those advertisements, however, are usually several offers for life insurance. 

Typically, life insurance is recommended to people who have loved ones who are dependent on their income.  In many cases, this means new parents should strongly consider purchasing a life insurance policy. 

Children, however, rarely have anyone who is dependent on their income.  In fact, hardly any of them even have an income.  On the surface, that would seem to indicate that buying life insurance for a baby would be a bad idea.

There are some cases, however, in which purchasing life insurance for a child might make sense.  In many cases, the death of a child might mean a lot of missed time from work and significant funeral expenses.  Because of this, many families with a low amount of savings decide to purchase a small policy that would cover these expenses.

In other cases, children born or diagnosed with a serious condition may need to have life insurance policy purchased for them while they are young so that they can qualify for life insurance after they become an adult.  Because it’s easier to renew a policy than to start a new one, this is a good strategy for families that know about a lifelong medical condition.

If you’re considering purchasing a life insurance policy, call the agents at Fuhriman Insurance Agency.  They have years of experience helping people throughout Boise, ID.