GOP will not implement Supreme's decision

GOP-controlled states will not implement ObamaCare despite decision—Seniors at risk

At least 20 states have passed binding legislation opposing broad elements of health care reform --states including Pennsylvania -- likely will not expand Medicaid since the U.S. Supreme Court removed the threat of federal penalties, analysts said.

That decision would be critical because of Pennsylvania's growing senior population and the high costs of skilled care for older people, said Linda Rhodes, a former secretary of the state Department of Aging.

"Medicaid has become a safety net for the middle class," Rhodes said.

Pennsylvania hasn't spent any of its $33 million federal grant to develop the marketplaces, department spokeswoman Roseanne Placey said.

ObamaCare is the law but states ignore Supreme’s law of the land.

http://media.lifehealthpro.com/lifehealthpro/article/2012/06/28/NFIB-Sebelius-11-393c3a2-highlighted.pdf

Romney says Supremes motivated by politics—OH REALLY!

Mitt Romney suggested "political consideration" rather than legal judgment may have played a major role in why Supreme Court Chief Justice John Roberts voted to uphold President Barack Obama's health care law last week. "It gives the impression that the decision was made not based upon constitutional foundation but instead political consideration about the relationship between branches of government," Romney told CBS News. "But we won't really know the answers to those things until the justice himself speaks out—maybe sometime in history."

What about the Bush II “election” overturning FL voter count?

And voting to allow corporations to influence elections?

Mitt is right and we all agree the Supremes are political decision-makers like Congress.

House GOP to cut food stamps for 46 million Americans—sugar and cotton subsidies up

Conservatives in the Republican-led House are certain to demand greater cuts in the food stamps program, which makes up about 80 percent of the nearly $100 billion a year in spending under the farm bill. Senate Democrats are equally certain to resist more cuts in a program that now helps feed 46 million people, 1 out of every 7 Americans.

Older clients get taken by advisors—Again

New study shows younger clients get better discounts even though they are more likely to cancel their accounts. Even though older clients have larger transactions, advisors are assuming that the old brokerage model will lead to greater business in the future. However, younger clients know they can do all their investing online by themselves now. Eventually they will figure out that they don’t need the advisor. They can invest for FREE. Wealth Without Wall Street explains the new model: http://www.amazon.com/Wealth-Without-Wall-Street-Commissions/dp/1442168137

States’ pensions not disclosing fees and special deals

The Governmental Accounting Standards Board has developed revised standards in accounting rules that will soon force cities, states and other local-government entities to disclose pension obligations that previously were hidden. Existing rules have been criticized for hiding the real cost of public pensions.

One member asked the State of NJ about fees on her pension and Treasurer refused to give answer. CA tried to reduce fees but private-equity fund managers often charge up to 2 percent of assets and 20 percent of profits. If the state earns 8% and gives away 2% plus profit (managers have 2% profit already) then you earn 5.6%. Vanguard charges only 0.05% for pensions.

What a special deal for Wall Street!

IRS goes after savers after losing $ millions to Swiss court

IRS is coming after you for IRA infractions that are technical but not very lucrative. The agency lost its bid to bring home revenue from American tax-dodgers hidden in tax haven Switzerland, so it needs to justify itself to Congress. The really big revenue loss is to corporations like Exxon and most of the Fortune 500 that keep profits overseas in foreign subsidiaries.

Check your IRA documents. IRS makes mistakes too, so check your backup: http://online.wsj.com/article/SB10001424052702304441404577480690440266320.html

Why your banker/broker/advisor/agent CAN’T give you the right products

It is impossible for your seller to give you the right products. They can’t sell them. The employer picks the products based upon revenue targets. Senior management wants to be rich not right about your long-term wealth. Example: Morgan Chase employees tell about selling their own bad funds. The bank actually changed the returns in marketing materials, according to JPMorgan documents reviewed by The New York Times. In 2011 they actually got caught and paid a fine and are still at it. Use our unbiased advisors: http://www.amazon.com/Unbiased-Advisors-Network-helps-tax-FREE/dp/1470106841

Insider reveals hedge funds returns a mirage—worse than owning Treasuries

His research shows returns have dipped substantially since the 1990s; compensation eating into payouts. Simon Lack, a former hedge fund executive at JPMorgan Chase & Co. and author of the just-published “Hedge Fund Mirage”  finds that investors would have done twice as well with boring Treasuries over the past decade than being in the high-status, hard-to-research investments they find so captivating.

You may be sued when your parents go to a nursing home

States are out of money so Medicaid state funds are not paying the bills for indigent parents. A judge can force you to pay if they think you can pay. Twenty-nine states have "filial support" laws that could be used to go after patients' adult children for unpaid long-term-care bills. http://online.wsj.com/article/SB10001424052702303506404577446410116857508.html

In at least one of those states, Pennsylvania, nursing homes have started routinely using the law to prod families into paying their elders' bills or completing Medicaid paperwork on their behalf.

Plan in advance with our Guide: http://www.amazon.com/Long-term-Care-Insurance-better-alternatives/dp/147006877X

Drug company pays $3 Billion for $29 Billion to sell unlawfully—no one goes to jail

GSK allegations: "Some people are concerned that marketing by pharmaceutical companies may exert undue influence on doctors, that sales representatives may not always give doctors full information about the products they are promoting, or that there may be promotion of medicines for unapproved uses."

Dr got vacations for writing scripts not permitted by law

Execs were paid $ millions for sales not permitted

Children got drugs not permitted

Americans pay 2-3 times the price Canadians pay for same drugs

And everyone lived happily ever after?

SCAMS           “Only the little people pay taxes.” Leona Helmsley

States are losing $ millions of revenue to tax haven in Delaware.

PA has lost $400 million a year because companies have TAX loophole. GOP claims US corporations have highest tax rate: http://www.nytimes.com/2012/07/01/business/how-delaware-thrives-as-a-corporate-tax-haven.html?pagewanted=all

Taxpayers are NOT protected by DoddFrank so Morgan Chase’s $20 B losses are just the beginning. Banks can make bad investments with our money still.

http://finance.fortune.cnn.com/2012/06/13/financial-crisis-myths/

Bankers use email codes to fix interest rates for whole economies!

"As always, any help wd be greatly appreciated," the trader wrote.

"I am going 90 altho 91 is what I should be posting," came the reply.

This is how they “earn” the big bonuses--$200,000+

http://news.yahoo.com/casual-e-mails-tell-chilling-story-market-fixes-165537584--finance.html

Bankers avoid jail even when insider whistleblower wins lawsuit

Countrywide fired one exec for refusing to make up a legal document. CEO Mozilo took $ millions after Countrywide bankruptcy. No one went to jail. Whistleblower waiting.

http://www.nytimes.com/2012/07/01/business/countrywide-ex-executive-still-awaiting-3-8-million-award.html?pagewanted=all

IAN

41 Watchung Plaza, B242

Montclair, NJ 07042

973.746.2014

www.InsuranceAdvisorsNetwork.com

Free Tax Prep for you?

Is FREE Tax prep right for you?
Free help in preparing your return is available by IRS-trained volunteers. The program is for tax-payers age 60 or older with simple returns. To find the a center, see

AARP’s website at www.aarp.org/taxaide or call 1-888-227-7669.
Don’t forget to ask for your credits: Child care, education, retirement savings, child tax, and residential energy. Your deductions: educator, IRA, student loan, tuition/fees, self-employed health, moving, health savings, etc. The volunteers file electronically and can direct deposit refunds within 14 days. Find out more online: “get help” tool at www.irs.gov/freefile.

Auto insurance discount
Esurance, the direct-to-consumer Allstate company, is offering Pac-12 students and alumni living in Arizona, Colorado, Oregon, and Utah a car insurance discount of up to 15 percent. Find 12 additional discounts with our Guide: amazon.com/Insiders-Guides-Discount-Financial-Services/

Texting while driving costs
Online auto insurance quotes provider 4autoinsurancequote.org released a study which reveals that insurance rates are rising due to the increase in texting while driving. nearly 10 percent of the driving population in the United States text and drive on a regular basis. According to the CDC, drivers who fall between the ages of 18 to 29 admit to texting while behind the wheel at least once per month, while a full 25 percent of those in that age group state that they habitually text and drive.

Homeowners to see hikes in 11 states—time to shop?
Some insurance companies will make hikes of 18% or more on specific homeowners insurance lines in 11 states, which include Tennessee; South Dakota; Kentucky; Arizona; Virginia; Maine; Colorado; South Carolina; Alabama; Kansas; and Georgia, according to Best's State Rate Filings since Dec. 1. Check on your insurer: http://ratefilings.ambest.com/default.asp

Katrina victims MAY see claims paid after 7 years
Attorneys took aim at bank accounts of Louisiana's property insurer of last resort Monday and began seizing more than $100 million they won for homeowners who claimed the company dragged its heels in adjusting hurricane claims in 2005. The money includes a $92.8 million judgment for more than 18,500 Louisiana Citizens Property Insurance Corp. policyholders _ plus $11 million in judicial interest. Each plaintiff stands to receive $5,000. Citizens failed to begin adjusting their claims after hurricanes Katrina and Rita within 30 days as required by law. Citizens provides property coverage to homeowners and businesses unable to obtain insurance from private companies.

Is SallieMae Insurance right for you?
The student loan company now offers accident, renters, and short-term medical insurance to students underwritten by insurers like Assurant. This means you are paying an extra bonus to SallieMae in your premium. Accident insurance pays your tuition if you have to withdraw—very low occurrence. Renters cover may not be the best bargain for students since the coverage is given without credit checks and with payment plans. It also includes Involuntary Unemployment which is unlikely for most students who are not employed. The small print assures insurers that they are unlikely to have to pay many claims so this coverage is high profit. Most students are better off buying coverage under their parents’ homeowner if they have money to burn.

Insurers overpaid by Medicare
Insurers offering Medicare health plans were overpaid by the U.S. as much as $3.1 billion in 2010 because the government miscalculated how sick beneficiaries were, federal auditors said. The managed-care plans remain overpaid, said the Government Accountability Office, Congress’ investigatory arm, in a report. Insurers received from $1.2 billion to $3.1 billion more than they should have in 2010 because the government overestimated how sick their customers were, a process called risk adjustment. Medicare calculates the risk of covering Advantage customers each month by considering their age, gender and any major medical conditions and disabilities. The plans get bigger payments for people with higher scores. Enrollment in Advantage plans was about 11 million people in 2010.

No Sweat Investing: Let your money work for YOU!
Presented by Lawson Steeple MBA 25 year veteran
Market swings are huge-3 of the top 12 in history in 2011
Interest rates are low-some of the lowest rates in history
Financial products are more complicated-riskier than ever
Advisors are not able to stabilize gains-no one can predict markets

https://www.createspace.com/3779288

SCAMS
Obama’s mortgage probe—too little too late?
The worst criminals have already settled with fines paid by stockholders/insurers and slaps on the wrists. No one has gone to jail or had to give up their spoils of the plunder of the mortgage market. Executives have learned that the benefits outweigh the penalties—$2.9 million benefit with $542,000 given back in one case. Would you Do it again if you were them? http://www.nytimes.com/2012/01/29/business/mortgage-task-force-has-fancy-name-but-will-it-get-tough.html

12 people decide GOP election—Supremes convert US to oligarchy paid by wealthy
A quarter of the money amassed by Romney’s campaign and an allied super PAC has come from just 41 people, each of whom has given more than $100,000, according to a Washington Post analysis of disclosure data. Nearly a dozen of the donors have contributed $1 million or more. Some of Romney’s biggest supporters include executives at Bain Capital, his former firm; bankers at Goldman Sachs; and a hedge fund mogul who made billions betting on the housing crash. These and other donor details follow the release last week of Romney’s tax returns, which showed millions held in the Cayman Islands and other overseas havens and a tax rate that is far lower than that paid by most American workers. Since Citizens United decision by Supremes that "money is speech," most Americans can’t afford to have their vote count. A dozen anonymous contributors (foreign governments?) have made GOP candidate. Who pays for Obama's election?

IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
347.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available at http://dankeppel.blogspot.com/

Save $3,000 every year

How can I save $3,000 a year on financials?
Dennis H., Valley Stream, NY asked this question. He hasn’t had a raise for two years and everything has gone up. He says he has cut out all his ‘wild’ spending. I told him the best places to look are his mutual funds and his insurance. I suggested he find out what he could save by increasing his deductibles and cutting extras from his policies. He said he found he saved $660 by raising his deductibles and another $60 a year on extras like towing and a death benefit in his policy. He was paying $1660 a year for a universal life policy. He decided he doesn’t need it anymore. He is divorced and his kids are grown. He transferred the cash value to bond fund for emergencies. He asked for more suggestions, so I recommended he read our Guides: http://www.amazon.com/Insiders-Guides-Discount-Financial-Services/

President says he won’t hold citizens in Guantanamo but he could if he wanted to!?!
Congress has passed the National Defense Appropriations Act, with Amendment 1031, http://thomas.loc.gov/cgi-bin/bdquery/z?d112:SN01867:@@@D&summ2=m&
which allows for the military detention of American citizens. The amendment is so loosely worded that any American citizen could be held without due process.
We can be locked away by soldiers without trial!
"By signing this defense spending bill, President Obama will go down in history as the president who enshrined indefinite detention without trial in U.S. law," said Kenneth Roth, executive director of Human Rights Watch. "In the past, Obama has lauded the importance of being on the right side of history, but today he is definitely on the wrong side."
Hard to believe that we have become what we hate. Only six Senators voted against. http://www.thedailyshow.com/watch/wed-december-7-2011/arrested-development


Do you need a lobbyist?Each of our representatives in Congress has 41 lobbyists EACH, . . . officially. They are the government influencers. We may need one soon. Here is a list of the ones who register.
List of 22,000+ lobbyists and government relations professionals who directly influence government policies and legislation. http://www.lobbyists.info/ProductDetail/the-3-0-31/Lobbyist_Mailing_Lists

E-file taxes for quicker refunds
The IRS issues refunds to 98 percent of electronic filers by direct deposit within 14 days. You may use Free File software if your AGI income is under $57,000. Starts mid Jan. Due April 17 but don’t wait. http://www.irs.gov/efile/article/0,,id=118986,00.html

File tax form just to get money back if …
Your employer withheld federal income tax from your pay, you worked but earned little and get Earned Income Credit, have child and get child tax credit, are student and get opportunity credit, adopted kid and get adoption credit and you paid for health insurance under certain conditions and get the health coverage credit. See http://www.irs.gov/ita/
for interactive bot to answer your questions without having to wait on phone. Check on your refund at https://sa2.www4.irs.gov/irfof/lang/en/irfofgetstatus.jsp

BEWARE: Annuity sellers are pitching hard
Sellers know that you would like to have guaranteed growth on your money without paying taxes, guaranteed income for the rest of your life and a guaranteed death benefit.
Annuities look like they are safer than gold, real estate and the stock market. Parking money somewhere safe with better interest rates than a bank is appealing. Some sellers are linking the annuity to life insurance premiums later in life so that you can leave a tax free legacy to the kids. It also doubles their commissions.
ACTUAL situation is more complicated. First, you’re going to pay a lot for those guarantees. Costs may wipe out the advertised rates of gain. Second, you or your beneficiary will pay taxes later when the annuity is used or passed. Third, you can buy guaranteed income for life at much cheaper rates when you need it. Other alternatives offer tax-FREE death benefits to your heirs without the fees and commissions. All investments have risks so gold, real estate and stocks are taken in moderation and balance. See alternative solutions before you buy: amazon.com/Not-Buy-That-Annuity-

Breath easier
One in eight people earning at least $1 million annually was audited by the Internal Revenue Service last year, making them far likelier to be examined than those making below $200,000, according to IRS data released Thursday. Just 1 in 100 individuals earning less than $200,000 had their income tax returns examined, the IRS said.
If you are audited, don’t volunteer old tax returns or any data not specific to the audit. The IRS takes weeks to find your old return so they only have the summary figures from some lines on the 1040. Say little and ask for any additional requests in writing. Stall. IRS agents get paid on volume.

Romney tax plan gives rich extra 15% discount
On average, households making less than $20,000 would see their taxes increase by more than 60 percent, said the Tax Policy Center, a Washington research group that studied the Romney plan. Households making between $50,000 and $75,000 would get small tax cuts, averaging 2.2 percent, or about $250, the study said. People making more than $1 million would get tax cuts averaging 15 percent, or about $146,000. Romney's plan would reduce tax revenues by $180 billion in 2015, adding to the federal budget deficit, the study said. Romney's plan would cut the top corporate tax rate. Most pay $0 now—many get refund of $millions. Romney says rich would create jobs even though they haven’t with the Bush tax cuts.


SCAMS
Alternative investments are risky
Waco- based Life Partners Holdings and three of its top executives were accused Tuesday by the Securities and Exchange Commission of "systematically and materially" misleading investors about the life expectancy of people whose life insurance policies it traded.

Let me know what you think. Editor@TheInsidersGuides.com

IAN
41 Watchung Plaza, B242
Montclair, NJ 07042
347.746.2014
www.InsuranceAdvisorsNetwork.com
Alerts available at http://dankeppel.blogspot.com/