About Bob Cantlay

I have been working for the Southern Medical Association since 2004 and hold Bachelor of Science degrees in both Business Administration & Computer Science, as well as a Masters of Management. Outside of work, my wife and two kids are the center of activity; but occasionally I get away long enough to play Ultimate (Frisbee Football). I also have a newfound interest in kayaking.

You want a solid foundation

IRAsOh man, you’re thinking, “I have to come up with a way to help my employees plan for their future.”  You want it to be a good plan because you will be using the same plan for your future. Problem is you just do not know what to do. You are thinking about IRAs. But you have found out there are many different types of IRAs. You had no clue. Now you have to decide what IRA would be best for you and your employees. You may even be wondering if each employee can chose what IRA they want. Your friends have listened and given advice, you have done research, you have even talked to other business owners but at the end of the day you still do not know what you want to do. The questions keep rolling in your mind. You want to do what is best for your employees and their families. At this point you are just plain tired of thinking about what to do.

 What you do know is you want a solid foundation for your investment portfolio before you introduce it to your employees. You have a good group of people and you want to keep them. The decision you make is going to be very important. You want them to be as happy with the company as you are with them.

 Instead of continuing to rack your brains think about this:  There is a better way to take control of your future. Let SMA Services, Inc. help you find the right IRA that will help you save for retirement and get great tax advantages along the way.

 You can talk to SMA Services, Inc. and they will listen. If you have decided to go with IRAs they will help you decide the best IRS for your need. Yes, there are several choices. You may already realize that and that is part of what is so confusing to you. Do not feel bad about that. It can be confusing, but SMA Services, Inc. has the resources to help you decide what is best for your company. They can even show you other options. You may continue to want to offer IRA plans to your employees. Plus you may come up with other options too. Remember you are trying to come up with the best plan for your employees.

 Think about this there is the SEP-IRA, (Simplified Employee Pension), the Contributory IRA, a Spousal IRA, a Rollover IRA, the Roth IRA, etc. Do you really want to continue to worry about this or do you want to use your time and energy running your business? You are an expert in your field. You do not have to be an expert in choosing an IRA plan for your company. It is time for you to call SMA Services, Inc. They are waiting to help you. Call 1-800-423-4992. Tell the person that answers what you are interested in discussing and you will be directed to the person you need to help you.

Planning Ahead to Avoid Pain Later

Planning Ahead to Avoid Pain LaterPlanning for our financial futures is something we should all take part in. You may never know when illness or death can strike and it’s better to be prepared when the time comes rather than be left with a financial burden on top of your grieving. Planning for your future doesn’t always mean funeral expenses. It can mean planning for health costs, vocational counseling, financial planning for a child’s educational costs, or financial planning for long-term income in the event of a severe injury. Each family is different and has different needs and resources available. There are no clear-cut answers to how a catastrophic event will affect your family, but it is important to begin planning now for the inevitable to lessen the blow when and if the time comes.

Planning ahead for funeral arrangements can eliminate a great deal of strain on your family members left behind. The value of “Pre-Need” arrangements can save a spouse or children thousands of dollars and time that can be spent properly grieving. Another one of the primary objective of “Pre-Need” arrangements is to ensure that the funeral is carried out according to your wishes. It doesn’t take much thought to see the value in this approach. In fact, millions of people choose to pre-arrange their funeral every year. Taking the beforehand approach can provide social, psychological, and emotional benefits to loved ones at a difficult time and allows your family to have peace of mind that “your affairs are in order.”

Not all planning has to be done to prepare for death. Albeit equally as grim, you may find yourself in a situation where you can’t work or you may find yourself in need of some sort of long-term care. People choose not to think about becoming dependent on others for care, and often times, people are just misinformed about the risks of needing care coupled with a lack of knowledge about the cost of care and payment options available. There is a very good chance that by the time you reach the age of 65 you will need some sort of long-term care or assistance, and that probability only rises as you continue to age.

Some people find it difficult to discuss these topics with their loved ones, making it difficult to explore their options and define their plans. Adult children often times find it difficult to raise these subjects with their parents for fear of feeling as if they are patronizing them, but the fact is, these things need to be talked about. Same goes for the parents of the adult children, they don’t want to make their children uncomfortable by discussing their passing or how they will be cared for in their final years. Some people realize the importance of planning ahead, but just don’t know how to go about doing so. The best way is to being with small and easy steps. Even just talking with your loved ones is a great first step toward being well prepared.

 

What, Why and Who

What, Why and WhoWhat is long term care insurance?

Wow, it is a little frightening to think of needing long term care insurance. But you know what we really need to think about it. So what is long term care insurance? It is a type of health insurance that pays for skilled, intermediate, and custodial care in your own home, adult daycare setting, assisted-living facility, or nursing home.

Why do we need long term care insurance?

People buy long term care insurance feel the need to protect themselves financially in case they become unable to care for themselves because of a chronic illness, disability, or cognitive impairment, such as Alzheimer’s disease. If you have long term care insurance you want have feel you are a burden to your children. You may be able to stay in your own home if you get sick. Others just want to make sure they have the care should they need it.

Who needs long term care coverage?

According to the Insurance industry, just about everyone needs long term care insurance? Are they trying scarce us into buying insurance? No, just visit any nursing home. You will find that the residents are not just elderly people. Any age person can have a health related sickness or accident that requires them to need long term care. Research has been done that shows 60% of people who reach age 65 will require long term care at some time in their lives. One widely respected publication, Wall Street Journal, states “… a couple turning 65 has a 75% chance that one of them will need long term care.” This high risk can also affect the entire family where the children are at risk of a negative inheritance, also according to the Wall Street Journal.”

Cost of long term care

Long term care can be as much, or more, than $200.00 a day. Even with Medicare and a strong health insurance policy you still need long term care insurance. Many Americans think that if they are on Medicare they are covered for long term care. That is not the case. “When you ask them, ‘Does Medicare cover long-term custodial care?’ only a third know that the answer is no,” says Steven Wallace, associate director of the UCLA Center for Health Policy Research.all

It is important to choose your insurance provider wisely. It would be so tragic to choose a company that was no longer in business when you needed them. Or one that did not follow through as they had indicated they would. That is why you should let SMA Services, Inc. Help you decide what company you should purchase your long term care insurance from.

Give SMA Services, Inc. a call. We would like to work with you and help you chose what long term care insurance you need. We have a Customer Services Representative waiting to help you.
Customer Services – 1-800-423-4992

Long Term Care Easier for You

long_term_care_insuranceWhen addressing long-term care, it is important to understand what that label encompasses. Long-term care refers to the help needed by people with chronic illnesses, disabilities, or other conditions that affect them on a daily basis over an extended period of time. The type of assistance can range from help with simple activities like dressing or eating to assistance from skilled care workers that’s provided by nurses, therapists, or other professionals. It is important to understand the basis for which long-term insurance is built on and what it can potentially cover for you. With the help from the professionals at SMA Services, you can rest assured that you’ll have guidance and support through your search for the appropriate plan for your specific situation.

If you ever find yourself in the position where long-term care is a necessary next step, it is important to recognize a few facts about long-term care insurance itself. If you receive health coverage through an employer, you may come to find that employer-based coverage does not cover extended care services. You may also want to reconsider turning to Medicare, because their coverage will only assist in a limited amount of at-home care or for a short stay in a nursing home. These are among some of the reasons that people in the applicable situation turn to long-term care insurance to help cover day-to-day expenses.

There are a few factors to consider when examining the many options of long-term care insurance. Usually, policies cost less if they are purchased when you’re young and in good health. Those with older and more severe health concerns may not be eligible for long-term coverage – and if you are covered at an older age, you will ultimately spend a considerably larger amount for your plan. Examine your income; if you’re struggling to pay your necessary bills or you are concerned about paying them in the years ahead, a plan may not be the logical decision for you. You may have a support system built from family and friends who would assist you in your time of need if it arises. Think about if you would want them to help or if they logically could in your time of need. Think about your savings and financial investments. A financial advisor can assist you in ways to save for your future long-term care expenses and what the pros and cons are of purchasing a long-term insurance plan. Usually, benefits paid out through long-term care policies are generally not taxed. Determine how to itemize the benefits and how your tax records should reflect your long-term plan.

Long-term care insurance is important coverage that provides valuable support and financial resources that help cover the cost of long-term care you may need in the event of an illness, accident, or through the normal affects of aging. By helping you protect your assets, and giving you the choice and control over where and who you receive care from, SMA Services can help you and your family face the future with confidence and peace of mind.

Business owners may think that it’s just an added insurance plan

Professional Liability Insurance (1)When you own a business, you’re more than likely directly involved with the customers and the public. This is great for really getting involved with your sales and services.
Although, sometimes things can go a little less than the way you would want. If any sort of accident happens and a customer or member of the public is harmed in any way, your business could face a liability suit that could ultimately be the end of your business if not handled properly. There is one way to face the onslaught of a liability claim that every business should have, and that is Professional Liability Insurance. At SMA, we offer non-medical service providers protection from claims alleging an act, error, or omission by the firm, its staff or contractors working on its behalf. We understand that each type of business has its own set of unique needs, that’s why SMA Services Inc. can assist you in making sure you’re covered in any event.

What is liability insurance? Business owners who may think that it’s just an added insurance plan that would never be used frequently ask this question. Professional Liability Insurance protects your business assets from claims that may result from advice, expertise, or professional services you provide. If you or your business engages in these activities, you could be at risk for being sued by a customer, client, or other party who claims he or she lost money or was harmed somehow due to you or your business and its negligent actions, errors, or omissions. It’s encouraged that any professional in a business that provides a service or counseling to customers, clients or another party would benefit from professional liability insurance. The plans protect you and your business in cases of faulty service (errors) or failure to provide a service altogether (omission). This type of insurance coverage pays the cost of your defense and any damages awarded (up to policy limits). Insurance companies have developed different specialized policy forms that cater to each risk of the particular profession or service in question.

Another question that many people ask about liability insurance is also very common, why buy? Professionals in any field are expected to completely understand their field and have the proper training in said field so that they may adequately provide their services to customers. With that being said, they are expected to perform the services for which they are hired, according to the standards of conduct in their profession. If they fail to do so, they can be held legally responsible for any harm or financial loss that they cause to another person or business. Another reason a plan should be invested in is because most Professional Liability plans are usually not included in any other insurance policy you may have, personal or professional.

If you and your business fit into the categories that we have mentioned, Professional Liability Insurance may be a plan that your business requires. Even though you may think you know everything about your skill, craft, or service, there is the possibility that one day you would provide subpar service. You and your business should be protected and SMA Services Inc. can help you plan for the unthinkable and anything that may be presented to you. If you would like to begin planning ahead and insuring your business, contact SMA Services Inc. today to secure your business’ future.

Qualified Retirement Plan

Qualified Retirement PlanYou work and work and work for your whole life in hopes that one-day you’ll be able to retire and enjoy the golden years of life. You can’t rely on Social Security to provide you with a trust fund once you reach the age for retirement, so you continue to work to attempt and build up a savings for you and your family. If you have the pleasure of working for a company that offers its employees a qualified retirement plan, that dream is becoming a reality even though it may seem like a distant dream. By offering these plans, companies can attract and retain employees that strive to work and stay with the company for a very long time. You are the one in control of your retirement and the first person you should do it for is yourself.

It is important to understand exactly what a Qualified Retirement Plan is before we can begin discussing the benefits they hold. Qualified Retirement Plans is a plan that is established by an employer for the benefit of the company’s employees. These plans give employers a tax break for the contributions they make for their employees. If the plan allows employees to defer a portion of their salaries into a plan, it also reduces the employees’ present income-tax liability by reducing their taxable income. In some cases, the employer will match the employee’s contributions to the retirement plan. Contributions are made in the accounts, in which the accounts earn income and begin to grow, and, hopefully, the assets in the account appreciate. Thus, when it is time for the employee to retire, he or she may begin receiving a payout from the account.

Qualified plans may allow investments, but only certain types, which vary from plan to plan, but these typically include publicly traded securities, real estate, mutual funds, and money market funds. These qualified plans also define when distributions from the plan may be made. Typically, these distributions are made when the employee reaches the retirement age defined by the plan, when the employee becomes disabled or unable to continue work, when the plan is terminated and not replaced by another qualified plan, or if the employee dies, in which case the beneficiaries receive the distributions.

It is important to note that workers may take distributions from qualified retirement plans before the retirement age is reached or one of the triggering events occurs. If a distribution is made from the plan, the employee may be subject to taxes and penalties that might make it unwise to take an early distribution. Some plans allow employees to borrow from the plan, but they also hold strict rules regarding the repayment of the loan.

This is just another way that you can plan for your future, and, in a way, reward yourself for your life of hard work. That isn’t to say that a Qualified Retirement Plan isn’t a way to help your family continue after a tragic incident. By making these preparations now, you can ensure that you and your family will be taken care of after your days of working are over.

 

Insurance – Just In Case

Insurance_Just In CaseWhat would you say if ask, “Are you going to get sick day after tomorrow”? Most of us would laugh it off and say no, I hope not, how do I know, or something similar. We do not know. That is why we need medical insurance.

Look up the word insurance. Never mind, we saved you the trouble:

  1.  Promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company.
  2.  Protection against future loss.

Insurance is a way of managing risk. When you buy insurance you are covering yourself, “just in case”.  You transfer the cost of a potential doctor or hospital bills to the insurance company in exchange for a fee, or premium.  Insurance companies invest the money in a secure way so it grows and is available to pay out the people or companies who have purchased insurance from them.

It is a fact of life. Most of us will become sick at some point in our lives. We do not want too nor do we plan too. However, we need to plan how we will pay for the expense that is incurred when we are sick. It will not take much trouble for you do little research to find out the cost of just a short illness. In fact, all you have to do is ask a friend or family member who has recently had to make a trip to the doctor. Just one trip could cost you more than a month’s insurance premium. We are talking a simple, one trip, illness here. If you really become ill, say with a serious illness the cost could sky rocket. And we do not even want to think about the cost of a hospital stay.

Let’s talk about something a little less depressing. The good news is there is insurance you can afford that will help cover the cost of being sick. If you never have to use the insurance you are truly blessed. We want you to see the importance of having the insurance “just in case”. More good news, you do not have to make the decision of what insurance company to use by yourself. There is help for you. SMA Services, Inc. is just the place you need to go for help with your insurance needs. We are able to fit you with just the plan and coverage you need for you and your family. SMA Services, Inc. will help you decide what coverage you need and what company will give you the best coverage for your money. Get your insurance today, just in case. Remember the cost of insurance may seem costly to you but it is not near the cost of medical care.

SMA Services, Inc. representatives are able to help you with insurances needs for yourself, your family, or for your company.

Our Customer Service Representatives can help you. Do not wait any longer. Give us a call. 1-800-423-4332

Don’t Be So Quick to Dismiss Disability Insurance

Don't Be So Quick to Dismiss Disability InsuranceThere are a multitude of people that think disability insurance is a waste of money and unnecessary expense.

Those people are foolishly wrong. A disability can happen at any time without any warning, and without preparation – it can leave you in a very uncomfortable position. A disability could prevent you from being able to work or provide for your families. Although, with a personal disability insurance plan, a monthly income provided by the provider can help keep the household afloat.

There are certain types of disability insurance policies out there and they cover a wide array of issues. Individual disability insurance is the most common and most used by people who are employed by employers that do not provide benefits or self-employed individuals who desire disability coverage. High-limit disability insurance is designed to insure that the beneficiary’s income benefits are at sixty-five percent of their income regardless of their income level. Key-person disability insurance provides benefits to protect a company from any financial hardship that may result from the loss of a key employee due to some sort of disability. Business overhead expense disability insurance provides reimbursement to a business for overhead expenses should the owner suffer an accident resulting in a disability. National social insurance programs are insurance programs provided by the national government of a country to all citizens. This has come to be the single most important form of disability insurance provided. Employer-supplied disability insurance is a type of insurance that is provided by an employer to any employee that suffers an injury resulting in a disability from an on-the-job accident.

There are certain things that disability insurance does do, but there are also some common misconceptions about disability insurance that are worth noting. Disability insurance coverage does not replace your entire paycheck. Most policies will only cover around fifty to seventy percent of your salary. It also does not pay benefits under any and every circumstances. Policies include a specific definition of “disabled” which each person may meet in order to qualify for benefit payments for their policy. Although, there are certain things that disability insurance will cover after your accident. A disability insurance policy covers the most vital and valuable asset: the ability to earn an income. Most policies let you tailor the cost and terms of your policy to fit your budget and needs. By allowing you to choose how long you’ll wait after becoming disabled, you determine how fast your payments will begin and how long they will last.

If you think about it, everything you have today depends on your ability to earn an income. Having disability insurance can provide you and your family with a sense of security of knowing that money will still be there. If the unexpected should happen, you can breathe easily by knowing that you’re still able to receive a monthly income for your expenses. Your income is your most important asset. Don’t let an injury debilitating injury prevent you from being able to provide for your family.

Professional Liability Insurance

Professional Liability InsuranceWe gain many words of wisdom from Uncle Bud while visiting in the coffee shop. The latest being how he feels about insurance. He stated, “I feel toward insurance the same as I feel toward toilet paper. I don’t like to buy it but sure am happy to have it when I need it”. Of course we all chuckled about his analogy. This comparison makes it easy for anyone to understand the importance of Professional Liability Insurance. While all of us may never need Professional Liability Insurance it is a given that we all benefit from the great invention of toilet paper.

Professional liability refers to liability that arises from a failure to use due care and the standard of care expected from a person in a particular profession. Most of us are aware of cases of malpractice insurance needed by those in the medical field. This includes doctors, dentists, nurses, hospitals and other health-related organizations. Medical Professional Liability Insurance policy covers bodily injury or property damage and may include personal injury such as mental anguish. We understand that not all adverse patient outcomes are results of negligence. However, all health care providers are human and accidents happen. That is one reason the insurance is so important.

Do other professional people need Professional Liability Insurance? To discuss this question let’s take a look at part of what Wikipedia has to say about Professional Liability Insurance:

Professional liability insurance (PLI), also called professional indemnity insurance (PII) but more commonly known as errors & omissions (E&O) in the US, is a form of liability insurance that helps protect professional advice- and service-providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such as civil lawsuits.

Professional liability insurance may take on different forms and names depending on the profession. For example, in reference to medical professions it is called malpractice insurance, while errors and omissions (E&O) insurance is used by insurance agents, consultants, brokersand lawyers.[1] Other professions that commonly purchase professional liability insurance include accounting and financial services, construction and maintenance (general contractorsplumbers, etc., many of whom are also surety bonded), and transport. Some charities and other nonprofits/NGOs are also professional-liability insured.

As we see in this condensed form of Wikipedia’s definition many professionals would benefit from having Professional Liability Insurance. As much as we may wish nothing would ever go wrong, it does. People make mistakes, things are over looked; let’s just face it, “stuff happens”. Remember what Uncle Bud had to say. Don’t you want your “toilet paper” in place before you need to use it? Get your insurance in place today!

SMA Services, Inc. can help you decide if you need this type of insurance. Give them a call. They will help you make the right choice on the amount and types of coverage you need according to the profession you are in.

Our Customer Service Representatives can help you. Just give us a call. 1-800-423-4332

Payroll

PayrollWhen running any type of business, your employees are your backbone. They help you carry your business and make sure the day-to-day duties are handled.

You also want to make sure that they are compensated well, fairly, and on time. If you’re handling the payroll aspect of your business on your own, the outcome could be risky and complex which leaves you and your company vulnerable to several different negative possibilities. By turning over your payroll completion to an outside source, you reduce the unwanted risks as well as ensure greater accuracy with up-to-date tax rates and regulatory information. You can simply your payroll with a combination of resources available through SMA Services to help you make sure your employees and your business are taken secured.

By allowing SMA Services to take over your business’s payroll, you are putting a dedicated team in charge of handling the payment of your employees. Your business receives expert, one-on-one service and support from a local, small business minded team. SMA Services provides a better payroll experienced that is focused on providing you with a smooth, glitch-free payroll system that is customized to meet the unique needs of your business regardless of the size.

When you put SMA Services in charge, you’re still the boss of your payroll. The details of your payroll system are customizable all the way down to the way that you submit your information to SMA Services. You can submit your payroll directly to our professional payroll team and receive a small business payroll package delivered to you, included with processed checks and essential management reports and supplies. We make it easy to submit payroll online, by phone, or through Email, view reports, import payroll data to your business’ accounting software, and save time answering your employees’ payroll questions that may arise.

The SMA Services payroll system is ideal for small to mid-sized employers. With SMA Services’ payroll and tax compliance, your payroll can be managed in-house and online. This allows you to eliminate inefficiencies of managing data in multiple places. This provides you with complete control and ownership of your payroll information and financial assets.

In addition to eliminating confusion and additional stress, SMA Services allows you to manage your payroll on your terms. By cutting checks, SMA Services can put effective payroll management tools in your hands to make every pay period business-as-usual. You have options when entering in your payroll information into the accounting software of your choice as either a regular entry or in more detailed check and draft amounts. You can automatically withhold and remit garnishment payments through electronic fund transfers. SMA Services gives you access to accurate reports to make understanding your payroll that much easier. SMA Services also offers the convenience of direct deposit, a paycard program, or a variety of traditional paper check options to fit the need of your employees.

When SMA Services handles your payroll needs, you can rest assured that you are receiving accurate handling of your payroll resources. You have enough to worry about when handling a business, so make payroll one less thing you have to struggle with juggling everything and then your business’ payroll. Turn the payroll worries over to SMA Services and continue carrying your business with a little less to worry about.