Find information to help consumers with insurance, securities and investments, or other products the Iowa Insurance Division regulates as well as filing complaints with the Iowa Insurance Division.
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- Consumer Connection: Financial Wellness
- Iowa Insurance Division Launches Save4Later Retirement Security Program During National Financial Literacy Month
- Increased Tax Credits Available for Iowans with ACA Coverage Starting April 1
- 2022 Rate and Form Filing Timeline for ACA Compliant On and Off Marketplace, SADPs and pre-ACA Non-Compliant Plans
- Iowa Investor Alert: Metals.com, Tower Equity, Chase Metals, and Barrick Capital Receivership Claim Deadline of April 30, 2021
- Iowa Medicare Beneficiaries Targeted by Medicare Card Scams
Consumer Connection: Financial Wellness
By Sonya Sellmeyer, Consumer Advocacy Officer for the Iowa Insurance Division
Financial literacy is being able to understand personal money management skills such as budgeting, investments, credit, and debt. A 2018 study from the Financial Industry Regulatory Authority (FINRA) shows 62% of Iowans are unable to answer more than three of five financial literacy questions correctly. Financial illiteracy may lead to poor credit, high levels of debt, a lack of insurance, and a deficiency of retirement savings.
Financial literacy can put money worries to rest but only when we use the knowledge to work for a healthier state of being or what is referenced as financial wellness. Meeting current and ongoing financial obligations, feeling secure in your future, and being capable of making choices that allow us to enjoy life now and in the future is financial wellness. Getting your financial wellness to a secure state of well being is good for your overall health too.
Iowa Insurance Division Launches Save4Later Retirement Security Program During National Financial Literacy Month
PRWeb Summary: A 2019 survey conducted by the Association for Financial Counseling and Planning Education® (AFCPE®) found that nearly half of Iowans are not planning for retirement. The Iowa Insurance Division launches Save4Later to provide Iowans with the tools and resources to save for a financially secure future.
DES MOINES, Iowa – Iowa Insurance Commissioner Doug Ommen announced today that the Iowa Insurance Division (IID) is launching its Save4Later financial wellness and retirement security program to provide Iowans with tools and resources to plan for retirement
and save for a financially secure future.
“Whether you are 25 or 65, it is never too late to start planning and saving for retirement,” said Commissioner Ommen. “We know from a recent AFCPE survey that 37% of Iowans have less than $5,000 saved for retirement, with many citing that they do not have sufficient retirement planning knowledge to feel comfortable contributing to a retirement plan.”
The Save4Later website has valuable information on retirement planning, budgeting and debt reduction, and saving and investing, along with short courses, calculators and videos to make getting financially fit fun, according to Ommen. There is an assessment tool to guide users to the right courses based on their existing knowledge of financial topics and leads them to build upon this base of knowledge.
Increased Tax Credits Available for Iowans with ACA Coverage Starting April 1
Des Moines, Iowa – The Centers for Medicare & Medicaid Services (CMS) announced recently that additional federal premium tax credits will be available to individuals purchasing their own health insurance directly through the Affordable Care Act’s (ACA) marketplace (healthcare.gov). The increased federal premium tax credits may result in lower premium amounts paid by Iowans.
New consumers and current enrollees who submit an application and select a plan on or after April 1 will receive the increased federal premium tax credits for 2021 and 2022 marketplace coverage. By using tax credits, individuals purchasing their own health insurance directly through healthcare.gov can further reduce their premium costs towards the purchase of a health care plan.
“Iowans who have already purchased their own coverage through the marketplace are encouraged to update their information on healthcare.gov on or after April 1 to recalculate their costs based upon the increased federal premium tax credits,” Iowa Insurance Commissioner Doug Ommen said. “These changes, coupled with the special enrollment period that runs through August 15, will make these insurance plans more affordable as Iowans recover economically from the pandemic.
2022 Rate and Form Filing Timeline for ACA Compliant On and Off Marketplace, SADPs and pre-ACA Non-Compliant Plans
Click here to view the 2022 rate and form filing timeline for ACA compliant on and off marketplace, SADPs and pre-ACA non-compliant plans.
Iowa Investor Alert: Metals.com, Tower Equity, Chase Metals, and Barrick Capital Receivership Claim Deadline of April 30, 2021
Des Moines -- Iowa Insurance Commissioner Doug Ommen today announced that Iowa investors who were previously defrauded by Metals.com, Tower Equity, Chase Metals, or Barrick Capital have until April 30, 2021, to file a claim with the court appointed Receiver in order to try and recover at least a portion of their lost funds.
Ommen joined 29 other states and the Commodity Futures Trading Commission in filing a consolidated nationwide enforcement action last fall to halt a fraudulent precious metals scheme that had solicited $185 million from at least 1,600 seniors and other investors.
The enforcement action was filed in the United States District Court for the Northern District of Texas, which entered an injunction and a restraining order freezing the assets of the defendants and appointed Kelly Crawford as Receiver to wind down the operation of the business and to marshal assets of the defendants for the benefit of defrauded clients. The effect of these actions was to end the fraudulent precious metals solicitations.
The Receiver will begin administering the claims process and returning money to defrauded clients. As part of the process, the Receiver is sending correspondence, instructions and a claims form to investors. Defrauded clients must complete and return their claims forms to the Receiver to participate in the claims process and request a return of money. THE DEADLINE TO RETURN THE CLAIM FORM IS APRIL 30, 2021.
Iowa Medicare Beneficiaries Targeted by Medicare Card Scams
Des Moines - Iowa seniors and Medicare beneficiaries are encouraged to be aware of current Medicare card scams in our state. To learn more about Medicare scams impacting Iowans, register for our live event on Friday, April 23, 2021 at 1:30 p.m. at https://bit.ly/3s0g8Ua.
“It’s important for Iowans to protect their Medicare number and not give it to unknown callers,” SHIIP/SMP Director Kristin Griffith said. “Medicare will rarely contact you by phone, and if so, you can also hang up and call Medicare back to confirm that the call is legitimate and not a scam.”
Consumer Connection: Financial Wellness
By Sonya Sellmeyer, Consumer Advocacy Officer for the Iowa Insurance Division
Financial literacy is being able to understand personal money management skills such as budgeting, investments, credit, and debt. A 2018 study from the Financial Industry Regulatory Authority (FINRA) shows 62% of Iowans are unable to answer more than three of five financial literacy questions correctly. Financial illiteracy may lead to poor credit, high levels of debt, a lack of insurance, and a deficiency of retirement savings.
Financial literacy can put money worries to rest but only when we use the knowledge to work for a healthier state of being or what is referenced as financial wellness. Meeting current and ongoing financial obligations, feeling secure in your future, and being capable of making choices that allow us to enjoy life now and in the future is financial wellness. Getting your financial wellness to a secure state of well being is good for your overall health too.
Iowa Insurance Division Launches Save4Later Retirement Security Program During National Financial Literacy Month
PRWeb Summary: A 2019 survey conducted by the Association for Financial Counseling and Planning Education® (AFCPE®) found that nearly half of Iowans are not planning for retirement. The Iowa Insurance Division launches Save4Later to provide Iowans with the tools and resources to save for a financially secure future.
DES MOINES, Iowa – Iowa Insurance Commissioner Doug Ommen announced today that the Iowa Insurance Division (IID) is launching its Save4Later financial wellness and retirement security program to provide Iowans with tools and resources to plan for retirement
and save for a financially secure future.
“Whether you are 25 or 65, it is never too late to start planning and saving for retirement,” said Commissioner Ommen. “We know from a recent AFCPE survey that 37% of Iowans have less than $5,000 saved for retirement, with many citing that they do not have sufficient retirement planning knowledge to feel comfortable contributing to a retirement plan.”
The Save4Later website has valuable information on retirement planning, budgeting and debt reduction, and saving and investing, along with short courses, calculators and videos to make getting financially fit fun, according to Ommen. There is an assessment tool to guide users to the right courses based on their existing knowledge of financial topics and leads them to build upon this base of knowledge.
Increased Tax Credits Available for Iowans with ACA Coverage Starting April 1
Des Moines, Iowa – The Centers for Medicare & Medicaid Services (CMS) announced recently that additional federal premium tax credits will be available to individuals purchasing their own health insurance directly through the Affordable Care Act’s (ACA) marketplace (healthcare.gov). The increased federal premium tax credits may result in lower premium amounts paid by Iowans.
New consumers and current enrollees who submit an application and select a plan on or after April 1 will receive the increased federal premium tax credits for 2021 and 2022 marketplace coverage. By using tax credits, individuals purchasing their own health insurance directly through healthcare.gov can further reduce their premium costs towards the purchase of a health care plan.
“Iowans who have already purchased their own coverage through the marketplace are encouraged to update their information on healthcare.gov on or after April 1 to recalculate their costs based upon the increased federal premium tax credits,” Iowa Insurance Commissioner Doug Ommen said. “These changes, coupled with the special enrollment period that runs through August 15, will make these insurance plans more affordable as Iowans recover economically from the pandemic.
2022 Rate and Form Filing Timeline for ACA Compliant On and Off Marketplace, SADPs and pre-ACA Non-Compliant Plans
Click here to view the 2022 rate and form filing timeline for ACA compliant on and off marketplace, SADPs and pre-ACA non-compliant plans.
Iowa Investor Alert: Metals.com, Tower Equity, Chase Metals, and Barrick Capital Receivership Claim Deadline of April 30, 2021
Des Moines -- Iowa Insurance Commissioner Doug Ommen today announced that Iowa investors who were previously defrauded by Metals.com, Tower Equity, Chase Metals, or Barrick Capital have until April 30, 2021, to file a claim with the court appointed Receiver in order to try and recover at least a portion of their lost funds.
Ommen joined 29 other states and the Commodity Futures Trading Commission in filing a consolidated nationwide enforcement action last fall to halt a fraudulent precious metals scheme that had solicited $185 million from at least 1,600 seniors and other investors.
The enforcement action was filed in the United States District Court for the Northern District of Texas, which entered an injunction and a restraining order freezing the assets of the defendants and appointed Kelly Crawford as Receiver to wind down the operation of the business and to marshal assets of the defendants for the benefit of defrauded clients. The effect of these actions was to end the fraudulent precious metals solicitations.
The Receiver will begin administering the claims process and returning money to defrauded clients. As part of the process, the Receiver is sending correspondence, instructions and a claims form to investors. Defrauded clients must complete and return their claims forms to the Receiver to participate in the claims process and request a return of money. THE DEADLINE TO RETURN THE CLAIM FORM IS APRIL 30, 2021.
Iowa Medicare Beneficiaries Targeted by Medicare Card Scams
Des Moines - Iowa seniors and Medicare beneficiaries are encouraged to be aware of current Medicare card scams in our state. To learn more about Medicare scams impacting Iowans, register for our live event on Friday, April 23, 2021 at 1:30 p.m. at https://bit.ly/3s0g8Ua.
“It’s important for Iowans to protect their Medicare number and not give it to unknown callers,” SHIIP/SMP Director Kristin Griffith said. “Medicare will rarely contact you by phone, and if so, you can also hang up and call Medicare back to confirm that the call is legitimate and not a scam.”