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Insuguru Insurance Services is a fully licensed, independent insurance agency specializing in employer and individual insurance plans. Our experienced agents strive to give our clients excellent plan choices, competitive rates, and superior customer service. InsuGuru Insurance Services is the right choice when it comes to designing and executing a comprehensive insurance package. InsuGuru Insurance Services specializes in Business Insurance, Group and Individual Health Insurance, Student Health Insurance and Visitors/Travelers Health Insurance
We’re an independent agency which means we don’t work for the insurance company, we work for our customers. We can offer you a wide range of insurance plans at competitive prices.
We represent all the major US insurance companies. That lets us deliver distinguished plans at the best rates. InsuGuru Insurance Services isn’t there just to sell you a new policy but to help you maximize your coverage.
To provide consultancy for preparing of all sorts of insurance services
Uncertainties are real when it comes to health. We make it certain to have your back when situations are beyond control.
We have a team of highly vetted and dedicated professionals at InsuGuru Insurance Services. Our team takes all possible actions to ensure that your health is protected from all kinds of risks. Although health emergencies are unpredictable, we help you deal with the financial consequences after an unwanted episode.
At InsuGuru Insurance Services, we know that the healthcare industry is ever-evolving. We strive to make it more accessible and easy to navigate for our customers by providing relevant information about the intricacies involved.
When an employer offers health benefits to its working squad, the former happens to build a loyal workforce. InsuGuru Insurance Services understands the importance of building a committed team. We help you get affordable and suitable health insurance policies as per your needs.
InsuGuru Insurance Services knows that really good dental plans keep employees smiling and makes their employer happy too.
Sight is one of the five critical senses that we must preserve. Visual impairments can negatively influence an employee’s ability to safely and accurately perform job duties.
Employees shouldn’t spend time at work worrying about how their families will manage financially should they pass away. Your employees may be distracted with concerns over how their loved ones will pay for daily needs like mortgages, car payments, and medical bills. In addition, your employees may wonder how their children will pay for college or their spouse will pay for retirement without having that extra paycheck.
Providing your valued staff members with life insurance plans will empower them and their loved ones. Life insurance coverage is the easiest way to be sure employees have a plan for their beneficiaries upon their passing.
InsuGuru Insurance Services offers employers and their employees a diverse collection of life insurance products.
Kaiser Foundation conducted a survey which revealed 1 out of 4 US adults have struggled to pay for basic healthcare or know someone that has experienced this problem. We can’t forget that about sixty percent of all US bankruptcy filings is prompted by medical debts.
Some medical insurance only pays a limited amount of the employee’s medical bills. The additional expenses which are not covered by the insurance company will quickly become the employee’s responsibility. Often times the amount due to the medical providers is far more than the employee can afford. That’s why InsuGuru Insurance Services makes sure their clients have the opportunity to bridge the gap between what an employee needs to pay and what they can pay.
Did you know as many as 54.4% of insured Americans get health insurance cover under group policies offered by their employers? Yes, it is what the 2020 Census data reads.
So, what is a group health insurance policy? Also known as employer-based or employment-based coverage, group health insurance is a health cover offered by an employer to their employees.
Generally, the members, policyholders, or beneficiaries of a group health cover receive the protection at a reduced rate. The reason? The potential risk of the insurance provider is dispersed across multiple beneficiaries.
Here are some most prevalent group health insurance policies available for organizations or businesses:
A 401(k) plan is a defined contribution, tax-free, and employer-sponsored retirement account. This pension account gets its name after the subsection of the Internal Revenue Code, called the 401(k). Employees can fund their 401(k) accounts directly off their automated payroll withholding, and the employers may match all or some of the funds.
There are two types of 401(k) plans. Refer to the pointers given below:
Many individuals are not eligible to avail of group health insurance plans. Some of the main reasons include the following:
Every business should operate with sanguinity and enthusiasm and hope for the best. However, at the same time, they should be prepared to deal with the unwanted scenarios that life often brings along. Situations may sometimes go out of control. However, with proper planning in place, you can surely sail out the unanticipated circumstances like a pro. InsuGuru Insurance Services offers a range of practical loss prevention products to help small and medium-size businesses cope with whatever comes their way. Our business insurance advisors are skilled, experienced and knowledgeable about the nationwide rules & regulations. They will have your back and protect you against all perils concerning you at every walk of your business. No wonder we are your Business Guards.
Also known as CGL, it is a type of business insurance plan that covers a business against the following scenarios:
As the name suggests, a Cyber Liability insurance policy is a specialized insurance product that safeguards individuals and businesses from Internet-based perils and dangers associated with Information Technology (IT) infrastructures.
This plan protects your business's liability for any kind of data security breach comprising sensitive information about customers, including health records, social security numbers, bank account numbers, credit card numbers, and driver’s license numbers, to mention a few.
Errors and omissions insurance (E&O) plan is a professional liability that covers businesses, their workers, and associates from claims of neglectful actions or insufficient work done during the tenure of services.
Errors and omissions coverage does not come under general liability insurance. So, the plan generally covers legal costs and settlements (if any) up to the amount mentioned in your insurance certificate.
This insurance policy offers medical and wages replacement benefits to employees if they are injured while working (tenure of occupation) in exchange for a compulsory withdrawal of the right of the employee to sue their employer for the act of negligence.
A majority of states ask every business to buy a Workmen Compensation insurance plan as soon as they recruit their first worker. What if your state does not need it? Still, you should purchase this plan to cover your business against the hefty medical bills incurred due to lawsuits and work-related injuries.
In monopolistic states, including Ohio, Washington, North Dakota, and Wyoming, businesses must get this insurance coverage from the state funds.
Workmen Compensation insurance plan also cover the following:
Umbrella liability insurance plan is an all-encompassing policy that covers your business beyond the current limits and protections of CGL, Workmen Compensation, and non-hired and hired auto plans.
This insurance plan offers protection against claims that are likely to be excluded by other liability insurance plans. It includes claims like libel, false arrest, slander, and liability cover on rental units owned by you.
This loan is designed to offer protection to small businesses if, unfortunately, their company vehicles are damaged, stolen, lost, vandalized, or involved in an accident.
Under a commercial auto insurance plan, the policyholder gets funds to replace or repair the vehicles, associated medical costs and property damage (third-party).
Employment practices liability insurance plan guards a business if a worker sues it for unlawful employment practices or any other work-related problem.
Such issues have become quite prevalent in the USA. Having this insurance policy means that the business does not need to shell out for legal expenses out-of-pocket if an employee or a group of workers file a compensation claim for employee rights violation.
The employment practices liability insurance needs to be active and valid when the claim was filed and when the incident happened.
The plan cover business accused of the following:
First-party commitment (fidelity) bond covers a tech company when a worker commits a crime, such as a forgery, theft, or fraud.
In case your employees can access your valuable assets and finances, a first-party fidelity bond can provide you with mental peace and financial compensation if an employee pockets from your business.
Third-party fidelity bonds cover your clients against forgery, theft, or fraud by one of your employees. This plan reimburses the third party (your client) if your employee(s) steals a property or pockets money from them.
Directors and Owners or D&O liability insurance plan is designed to cover individuals against personal losses in case they are sued for serving as an owner or director of a company.
This insurance plan also pays for the legal fees and other related expenses a company incurred due to a lawsuit.
D&O liability insurance plan offers financial coverage to directors and owners if they are sued given the execution of their duties related to the company, such as conflict of interest, violation of fiduciary duties, operations mismanagement, asset mismanagement, misrepresentation company asset sale, etc. It is also known as management E&O.
Accounts receivable insurance policy covers a business from financial losses as a result of its AR (accounts receivable) records. This coverage is crucial because the loss of AR records may make a company unable to collect funds the clients owe.
The United States prides itself on the world-class quality of its state-of-the-art medical care. The problem is that all of the research, technology, and education that it takes to deliver that high-quality care makes healthcare in the United States very expensive. This country does not have universal health visitor insurance. If you visit the United States without valid medical insurance, you’re taking a risk.
Just about one million international students travel to the United States to attend colleges and universities. These foreign students may need health insurance in order to register for classes and satisfy student visa requirements. Even more important, foreign students need a medical plan to make sure they can access and pay US medical providers.
Your own country’s healthcare system may work very differently than the healthcare system in the United States. Without US insurance, you run the risk of generating huge medical bills if you should get sick or injured.
InsuGuru Insurance Services has been serving the community for many in providing visitor insurance through our subsidiary Visitors Guru.
The United States prides itself on the world-class quality of its state-of-the-art medical care. The problem is that all of the research, technology, and education that it takes to deliver that high-quality care makes healthcare in the United States very expensive. This country does not have universal health visitor insurance. If you visit the United States without valid medical insurance, you’re taking a risk.
If you need to visit a doctor, clinic, or hospital, you can expect to pay very dearly for your treatment. If you plan to visit the United States, you should consider buying visitor travel health insurance to make sure you can access and afford good doctors just in case you get sick or injured.
These plans offer you short-term visitor health insurance that can help pay for a variety of medical services. Some examples include hospital stays, doctor’s office or emergency room visits, lab tests, and prescriptions. Most plans will also help you find care if you need it and some also offer non-medical benefits as well. They will only cover a new illness or injury that happens during the covered period and not a pre-existing condition.
InsuGuru Insurance Services has been serving the community for many in providing visitor insurance through our subsidiary Visitors Guru.
If you live in the United States, you should know that your government advises international travelers to consider purchasing travel health insurance for foreign trips. Most American health insurance policies only cover domestic medical providers. This includes both Medicare and most Obamacare medical plans. Also, you can buy travel medical policies that provide you with other valuable benefits that will protect you when you venture far away from home.
InsuGuru Insurance Services has been serving the community for many in providing visitor insurance through our subsidiary Visitors Guru.
Schengen (a region with 26 European countries) is one of the destinations that mandates international travelers to carry a travel medical insurance plan. It is an integral part of the visa process, and it keeps your medical expenses in check.
Insuguru Insurance Services has been serving the community for many in providing visitor insurance through our subsidiary Visitors Guru.
The ERISA (Employee Retirement Income Security Act of 1974) is a federal tax and labor law prevalent in the United States. This law determines the minimum standards for voluntarily established retirement (pension plans) and health insurance plans in the private industry to cover the beneficiaries.
It offers an SPD (summary plan description) that talks about the terms and conditions of the plan to all enrolled members.
Are you giving a maintained and consolidated written plan (ERISA document) to your workers or new employees within 90 days of plan change? If your answer is no, you are not law-abiding and are likely to get subjected to penalties.
If you have more than 100 enrolled members in a health insurance plan, ERISA also requires you to file the IRS form 5500.
Are you deducting the premium amount from the salary of your employees on a pre-tax basis? If yes, then you must have a POP document to prove yourself compliant.
Your employees contribute to their dental, health, and life insurance policies before the related taxes are calculated. POP helps them to save FICA (Federal Insurance Contributions Act tax) and federal income tax by up to 30% on their deductions with each paycheck.
If POP is not in place and the employer is deducting tax on a pre-tax basis, employers can save on the FICA by 7.65%. It is non-compliant and subject to fines. POP is also known as Section 125/Cafeteria plan.
COBRA (Consolidated Omnibus Budget Reconciliation Act of 1985) is a Federal law. It is compulsory for group health insurance policies funded by employers with 20 or more workers. It provides the employees and their families (who have lost their health coverage benefits) with the freedom to continue with the health benefits offered under their group health insurance policies for a specified time under specific situations. These situations include - a reduction in the hours they have worked, involuntary job loss, voluntary job loss, death, switching between jobs, divorce, and other instances.
To become eligible for tax-favored status, a benefit policy must not differentiate in favor of key employees and HCEs (highly compensated employees) in terms of benefits, eligibility, and contributions. According to federal regulations, requirements for every benefit policy are specified under the IRC Section 125, IRC Section 105, and IRC Section 129. Evidence compliance annual tests and related results must be documented for every benefit policy.
Every employer should report information on Health Insurance Offer and Coverage to the IRS (Internal Revenue Service) and a couple of select states by the end of the year. According to the ACA (Affordable Care Act), companies with ALE (Applicable Large Employees) 50 or more, must produce the IRS with ACA reporting using IRS form 1094-C and 1095-C explaining what advantages they provided. If a company has 49 or lesser employees, they are not required to report the same unless they are insured on their own. We provide this VAS (value-added service) to our clients to ensure completing these fillings to the IRS while keeping them tension-free.
It is a tax-free savings account that allows people to save for their medical costs that health insurance policies with high deductibles are less likely to cover.
A Health Reimbursement Arrangement or an HRA is a tax-free, employer-sponsored, IRS-approved health benefit. It is used for reimbursing employees for their personal health insurance premiums and medical expenditures that they made out of their own pockets.
Always remember! HRA is not a health insurance plan. You may define it as a monthly allowance of a tax-discounted money provider to employees by their employers. Then, the former purchase the healthcare services they wish, including health insurance coverage, and the latter pay them according to the allowance limit.
Health Reimbursement Arrangement is a great way to offer health insurance benefits and let employees pay for a range of medical conditions and costs not under their insurance plans.
This plan is excellent for small businesses that are less likely to pay for group health insurance.
A Flexible Spending Account, also known as FSA or flexible spending arrangement, is a savings account that offers specific tax advantages to the account holders. This account is created by an employer for their employees. This account helps the workers to contribute a part of their regular income to shell out for covered expenses associated with dental and medical expenses.
A type of FSA called a dependent-care flexible spending account, is used to cover childcare expenses for kids up to 12-years of age or less. It can also be used to take care of eligible adults, such as a spouse, who cannot take care of their health needs.
We answer the most frequently asked insurance questions here.
Health insurance plans pay for medical expenses. Health insurance protects you against unforeseen medical bills caused by injury or illness, as well as examinations and prescription drugs. Health insurance comes in a wide assortment of benefits and prices. In the United States, many employees get health insurance through their jobs as a special perk. Otherwise, individuals in the United States will buy their own individual health insurance for themselves and their families.
Regardless of age or health condition, everyone benefits from health insurance coverage. That’s because a sudden injury or unexpected illness may present itself at any time. Medical insurance will protect you from absorbing the entire cost of medical treatment. In addition, a health insurance plan will often give you access to preventative routine care. Under Federal law (Affordable Care Act or ACA), everyone in the United States is expected to have medical insurance. If an individual is not covered then they may be subject to a federal tax or fee for every month the individual goes without proper coverage.
In 2010, President Obama signed into law the Patient Protection Affordable Care Act (ACA) which is also commonly known as “Obamacare”. The ACA is a federal law designed to provide all Americans with access to affordable, quality healthcare even for those suffering from a pre-existing medical condition. In short, ACA was established to expand the protections, rights, and benefits for insureds while also regulating medical costs via the insurance companies. ACA resulted in an online health insurance marketplace (aka “exchange”) where Americans can shop for insurance plans that provide federally approved plans at reasonable rates.
Many US employers provide their employees with health insurance, although enrollment is restricted to specific periods during the year. Check with your employer’s HR department to better understand what kinds of coverage your employer offers and if you qualify. Americans not offered an employer-sponsored health insurance plan will have to purchase a policy for themselves. One way is to buy an Obamacare health plan via the ACA’s marketplace.
Under the ACA law, insurance carriers can’t deny an individual health insurance because of a pre-existing medical condition. The insurance companies are also unable to drop individuals when they become chronically ill or charge an individual more (aka a rate up) than their peers because of a health issue.
The annual period of time designated for enrollment in a new health insurance plan. Typically the open enrollment period for ACA insurance plans is from November 1 to December 15 each year. Employer-sponsored health insurance tends to have different open enrollment periods established by the company. So check with your company’s HR department to find out when the company will have their next open enrollment period. If you do not enroll in a qualified health insurance plan during the open enrollment period then you might still be able to do so depending on your circumstances. For example, a special enrollment period is available for individuals that are newly married, having a child, relocating to a new zip code, or losing their current health insurance. If you or your family qualifies for Medicaid or the Children’s Health Insurance Program (CHIP), you may enroll in either program any time during the year.
Individuals that enroll in an ACA health insurance policy may qualify for government tax credits and/or subsidies to help lower the premium cost and other out-of-pocket expenses.
Deductibles are predetermined amounts you’re expected to pay before the insurance company will begin paying your medical bills. The deductible amount you’ll be asked to pay varies among insurance plans. Usually, a higher deductible amount means a lower premium. It is possible to buy a medical insurance plan that does not have a deductible. Keep in mind, your premium may be quite a bit higher than a plan with a deductible.
Your copayment (or “copay”) is the flat fee you’ll pay each time you visit a provider, pick-up a prescription, or receive a medical test. Remember, copayments don’t count toward your deductible but they usually do count towards the total “out-of-pocket” cost you’re expected to pay for the policy year.
Health Maintenance Organization (HMO) medical insurance plans allow you to pick your primary care doctor. HMO coverage expects you to rely on the primary care physician of your choice to refer you to specialists, order tests, and manage your overall medical care. This structure helps control costs for your health care services.
Preferred Provider Organization (PPO) medical insurance plans furnishes the most freedom in selecting health care providers. A PPO health insurance plan lets you receive treatment from any professional you prefer, even if they don’t participate in the healthcare network. Of course, by visiting a network provider you’ll be able to maximize your policy’ benefits and avoid paying more out-of-pocket costs.
Gap insurance bridges is a supplemental policy that doesn’t replace your health insurance. Instead you can use the gap insurance policy to collect lump sum payments towards covered illnesses and accidents. The funds a gap plan will pay you can be put towards the deductible and out-of-pocket expenses owed to your primary health insurance carrier.
