ISA Updates and New Products

Friday, October 24, 2008

 

Weak Economy Leads to Mass Layoffs

Companies all across the country are feeling the crunch of our economic crisis, with millions of people finding themselves without a job, and consequently, without health insurance . Even employees who do not lose their jobs, may be downsized to part time and will also lose their benefits.


It’s not only big investment firms and banks that are laying off people. As of March 2008 the following Wall Street Firms have cut the following amount of jobs:


Citigroup~ 6,200

Lehman Brothers~ 4,990

Bank of America~ 3,650

Morgan Stanley~ 2,940

Washington Mutual~ 2,600

Merrill Lynch~ 2,220

HSBC~ 1,650

Bear Stearns~ 1,550

WestLB~ 1,530

UBS~ 1,500

Goldman Sachs~ 1,500

National City~ 900

Credit Suisse~ 820

Royal Bank of Canada~ 500

Fortis~ 500

Wells Fargo~ 500

Wachovia~ 443

Deutsche Bank~ 370

JPMorgan Chase~ 100


TOTAL ~ 34,463


If your client was receiving health insurance through their job, their employer may be required by law to give them an opportunity to remain on the employer's plan under COBRA continuation coverage. However, they will no doubt be shocked by the high cost of premiums at a time when they no longer have any income.



These are scary times, and any financial planner will tell you, the best way to safeguard your fiscal future is to maintain health insurance.



Thankfully, the folks at Insurance Services of America have a solution:

Short Term Health Insurance.

Our short term health plans are specifically designed to provide medical coverage with very low premiums to keep your client covered through these trying times.

The Amigo Short Term Health Plan is an affordable alternative to Cobra, and plans can be issued instantly online. It has a unique $50 Urgent care co-pay which is not subject to meeting the deductible. You can pay your premiums monthly, or if you choose to pay them in one lump sum, your client will save about 40% off the already low rates. Visit our website today for an instant quote and see for yourself how affordable this coverage really is. we can also make you the same link for your own website, or you can email it to clients so they may apply online themselves. Any business written from your personal link will automatically be coded to you, so you won't have to worry about not getting credit for the case.
We know we will all make it through these difficult times.

Let the experts at Insurance Services of America help your client avoid being bitten by a COBRA.


Comments:
Despite the layoff news, I see thousands of high paying jobs posted on employment sites -

http://www.linkedin.com (networking for professionals)
http://www.indeed.com (aggregated listings)
http://www.realmatch.com (jobs matched to your skills)

Those laid off will find new jobs...maybe better ones! Scary snake.
 

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