Friday | September 21 | 2018

UniFi

UniFi thinks she may need dental insurance…

MARKET WATCH:
*Market indexes are the value of certain stocks which represent the overall stock market. Learn more here.*

S&P 500  (Standard’s & Poor 500): Made up of the 500 most widely-traded stocks in the U.S. +22.80 (0.78%).

For weeks we’ve been looking at how fast the economy is growing. Now economists are looking ahead and predicting when that growth will slow, potentially leading to the next recession. ⅔ of private sector economists think 2020 may be when this run takes a turn. We are not sure what will happen but take a peek at how you can prepare, just in case.

IN THE NEWS:

Last week Hurricane Florence slammed North and South Carolina along the east coast leaving 35 people dead, 350,000 without power, and 1.7 million chickens drowned. Not to be a wet blanket, but all that damage costs! Uncle Sam’s on the hook for $50-$60 billion for Hurricane Florence, and she’s only a b-list celebrity in the storm world. A-listers Harvey, Sandy, and Maria did much worse damage, topping $150 billion each. If you’re more of the singing in the rain type, you can make some love for all the families hit by the hurricane and donate here.

Tired of us raining on your parade? Here’s some sunny news. According to the World Bank the global population living in extreme poverty has fallen below 750 million for the first time since 1990. In the past 25 years the number of people in poverty has decreased by 1 billion (cue up the party music). Extreme poverty is defined as those living on less than $1.90 per day (not even the cost of  a pack of gum in New York City), or $694 per year. Asia used to be the continent hit hardest by poverty but now a majority of those in extreme poverty live in Sub-Saharan Africa. In case you're tempted to think this problem is only far from home, about 7 million of those living in extreme poverty are in the good ol’ red white and blue and other wealthy countries. The World Bank is setting some steep goals to reduce poverty by 3% by 2030 - no clues yet on how they are going to do that, but the numbers are moving in the right direction.

MONEY TRICKS ANYONE CAN TRY:
*Do you have money tricks to add to the pile? Drop us a line.*

Piggy Banks: We’re not joking here, they haven’t gone out of style. It’s time to throw it back to your childhood and “re-invest” in your piggy bank - it may do you some good! Keep one in your kitchen or bedroom (can be a jar, bowl, or vase) and use it for all of your spare change. At the end of each month, take the jar and trade it in for cash at the bank - you could have an extra $20+ each month to treat yourself with OR SAVE. And if you didn’t see it on our Instagram, UniFi has a new team member, our unicorn piggy bank Fifi. She will be traveling the country (full of money) - so send us a note if you want Fifi to visit your home, and she can be your interim piggy bank for a week!


LEARN IT:

DEFINITION OF THE DAY

Dental Insurance: A plan that you can buy that helps you offset the cost of your visits to the dentist or can help if you’re in need of some serious tooth care.

Today we bring you good news about one kind of insurance you might not need. Here’s the DL on dental.

  1. You might not need dental for routine care - If you are one of the lucky few endowed with healthy teeth that rarely rot, you might not need dental insurance. Insuring your pearly whites typically costs a monthly fee (your premium), and you cover part of the bill for some dental procedures each time you go to the dentist out of pocket. Unlike health insurance, tooth care tends to be fairly predictable. If you have healthy chompers and rarely get cavities, you may pay more for dental insurance than you would out of pocket. If this is you, consider skipping insurance.

  2. It doesn't always help with big procedures - Big dental procedures hurt your mouth and your wallet, and insurance might not help. Take a peek at your annual maximum - this is the total amount the insurance company will pay for all your dental needs. If it’s only $1000 or even $2000 it might not cover the full cost of more expensive procedures. Many plans also make you spend a certain amount (called “hitting your deductible”) before they’ll start pitching in. That means that even for big expenses insurance might not save you much.

  3. Company plans vary - Your company plan may be a good deal for you, or it may not. Pay attention to your monthly payment (premium), annual maximum, and the amount you cover per visit (your copay). Then think about your dental history, and decide who’s doing who a favor.

  4. If you need insurance, buy it - If you are prone to root canals, have bad teeth genes, or are morally opposed to flossing, dental insurance might be right for you. Insurance companies are smarties, and typically dental insurance won’t cover major expenses for 6-18 months after you sign up, so if you’re cavity prone you should bite the bullet before things start to hurt your mouth and your pocket.

  5. Get that dental discount - If you don’t get a good plan through your employer, and your chompers are in decent shape, consider a dental discount plan to save money. These are plans where you pay some money up front to get routine care covered for the year. Here’s an example from Humana.

  6. Make sure the plan has what YOU want - Depending on your plan type, you might not get to pick your dentist. HMO plans (“health maintenance organization”) only let you pick from a specific list of dentists. PPO plans (“preferred provider organization”) let you pick your dentist, but give you a discount if you pick a dentist on their list. Indemnity plans let you pick and cover a percentage of your bill. Bottom line? If you love your doc, make sure your plan covers them.


YOUR TURN:
*This section is not sponsored by any third parties. These are our pure, honest opinions on what we think is easy and works best!*

We hope that the “learn it” left you off the hook for dental insurance. But in case you still think you need coverage, check out this site to compare top rated quotes and features of several different plans.

SHARE, SHARE, SHARE:Share the UniFi love! Send your friends, family, ex-girlfriends, pets, former bosses, and in-laws the UniFi link and get one step closer to the perks in our referral program!