> Destroyed or damaged records If your business records are destroyed or damaged by a covered peril, this insurance will compensate you for the inability to collect income and for the cost of reproducing the records.
> COBRA Benefits COBRA stands for “Consolidated Omnibus Budget Reconciliation Act of 1985,” which requires companies with 20 or more employees to offer separating employees the option to continue their group health-care coverage at their own expense.
> Foreign-product liability This coverage applies to losses that occur because of difficulties involved in distributing or acquiring items that are manufactured by foreign suppliers.
The Mental Health Parity Act, MHPA, of 1996 requires plans that offer mental health benefits to set lifetime dollar limits equivalent to limits for medical/surgical benefits; however, it does not require all plans to offer mental health benefits. Limits for substance abuse or chemical dependency benefits are not included in the determination of parity.
Many States have their own mental health parity laws. Some State parity laws deal with substance abuse benefits as well as treatments for mental illness. To learn more about parity and mental health coverage in your own State, contact your State department of insurance.
If stress, or interpersonal or job-related tension, is interfering with your daily life or if a medical condition is causing you mental anguish, you may want to seek mental health care. If habitual use of legal or illegal substances is negatively affecting your health and/or your daily life, you should seek treatment for substance abuse. In either circumstance, you should seek care as soon as possible, before you feel that you can no longer cope with the situation. These problems are just as important, and treatable, as medical problems.
If you live in the following cities and need an Insurance Advisor or to get a
quote, you should contact our Ohio Insurance Advisors today:
Alliance
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Bowling Green
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Chillicothe
Cincinnati
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Columbus
Dayton
Delaware
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Eastlake
Elyria
Fairborn
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Kent
Lakewood
Lancaster
Loveland
Marion
Mason
Massillon
Medina
Mentor
Middletown
Newark
Painesville
Reynoldsburg
Sandusky
Stow
Toledo
West Chester
Westerville
Wooster
Xenia
Youngstown
Zanesville
Did You Know?
Generally, you must report as income any amount you receive for your disability through an accident or health insurance plan paid for by your employer.
If both you and your employer have paid the premiums for the plan, only the amount you receive for your disability that is due to your employer's payments is reported as income. If you pay the entire cost of a health or accident insurance plan, do not include any amounts you receive for your disability as income on your tax return. If you pay the premiums of a health or accident insurance plan through a cafeteria plan, and the amount of the premium was not included as taxable income to you; the premiums are considered paid by your employer, and the disability benefits are fully taxable.
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general information related to insurance issues commonly encountered.
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