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You are here: Home / Archives for personal

Personal Insurance: Medical Information Bureau Reports

January 8, 2012 by Tracy

Did you work a few minutes this week on filing your important documents? Even with my documents organized, I still have to keep up those files.

Though I did not file any paperwork this week, I did access my files and sort in-coming insurance documents.

To start or maintain your files, take it one step at a time. Plan to spend a few minutes this week, set the timer, and organize.

In File Box #2, the first file opening houses our personal insurance documents: summary page, annual enrollment reports, former severance package, and privacy policies and travel insurance. The last items in this first category are our medical information bureau reports.

Medical Information Bureau Reports

The MIB, Inc. (formerly the Medical Information Bureau, Inc.) is a non-profit organization that keeps a database of any health, disability, or life insurance for which you have applied.

Information in your Report

If your applications required a medical exam where a medical issue was noted, then that medical issue is coded (per MIB’s system) and reported in their database. If you then apply for another policy, the new insurance company will access your MIB file and discover that information.

Since both Paul and I have life insurance policies for which we applied and had medical exams, I requested our free annual report from MIB, Inc. If you have never applied for health, disability, or life insurance, then you will not have any information on file.

NOTE: If you only have insurance through employer group plans, then you will not have information in your file. The MIB file only records information on personal insurance policies for which you apply.

Another reason your file might be empty would be if your insurance policies have been held longer than 7 years. Just like your credit report, entries older than seven years are purged from your file.

Requesting your Report

If you want more information regarding MIB, Inc., read this easy-to-understand article. When you decide to request your free report (which you should), visit MIB, Inc.’s web site for more information and their phone number.

Reviewing your Report

When you receive your free report, review it for errors, and file the accurate report in this file. If you find discrepancies, then contact MIB to correct the inaccuracies.

Our Medical Information Bureau reports complete our personal insurance category. As you request these reports, your  insurance file will be in a pending status since you cannot add those document until they arrive. Just keep plugging along organizing other important documents, and then tackle these MIB documents when they arrive.

Great job working on your important documents! This process is time-consuming, but using time wisely now will save you time in the future. Keep up the good work, and happy organizing!

Question: Where are you in the process? I would love to cheer you on as you get your documents organized!

Filed Under: Document Organization, Personal Insurance, Box 2 Tagged With: personal

Personal Insurance: Privacy Policies and Travel Insurance

January 1, 2012 by Tracy

Welcome 2012! With the arrival of a new year and a new month, I celebrated this afternoon by decluttering, cleaning, and re-organizing my dining room. Love to start the new year off getting organized. If you are setting goals to get organized this year, then Using Time Wisely is your ally.

On Sundays, I highlight an area of document organization. Having covered in 2011 Box 1, which has credit cards/credit reports and scores, personal, home ownership, and vehicle documents, we continue our insurance document organization housed in Box 2. This series reveals my organizational system. Please adjust and adapt this system to meet your needs. Finding a home for all those documents will make retrieving them a snap.

Thus far in Box 2, our first category, personal insurance, resides in the first file opening. In my file, the summary page, annual enrollment reports, and former severance package fill most of this first file slot. The next two sets of documents are privacy policies and travel insurance documentation.

Privacy Policies

At one point, I housed all the privacy policies from all the insurance companies in this file. But as we have added policies, I found that keeping the privacy notices with the insurance policies is the best use of my time. I do not need to search two different file folders (one for the policy and one for the privacy notice) when I need these documents.

With all the other privacy policies with their associated insurance policies, I have one privacy policy that remains: the health insurance program for South Carolina. This state agency does not write any insurance policies, but they are the administrator of our group insurance policies. Keeping their privacy policy documentation housed in this file with the annual enrollment documentation works for me.

Travel Insurance

As holders of Visa credit cards (Yes, I use credit cards for 90% of my purchases and pay off those amounts each month!), we receive worldwide automatic travel accident and baggage delay insurance when we pay for our flights with our Visa credit card.

Visa sent us the Description of Coverage which outlines the plan, eligibility, cost, beneficiary, benefits, exclusions, and effective date. In the event I need to file a claim, I can find the information quickly from the documentation, kept safe in this file.

In keeping my family’s personal insurance documents organized, I have placed the privacy policy and travel insurance documentation behind the former severance package paperwork. In continuing this series next week (without anymore Top 10 interruptions), I will complete this first category in Box 2.

Keep plugging along. By breaking down your goals to little sections, you will get there. Choose to organize one file this week. Work on a new one next week. Within a few weeks, you will have a category complete. You can do it! Happy organizing!

Filed Under: Document Organization, Personal Insurance, Box 2 Tagged With: insurance, personal

Personal Insurance: Annual Enrollment Reports

December 11, 2011 by Tracy

Creating a place for each document AND keeping those documents in the correct file gives you freedom from clutter. To keep the clutter at bay, I have 4 stackable trays on my desk. The top tray holds all the paperwork that needs to be processed. This 2-inch tray gets filled very quickly.

In fact, too quickly.

As the pile mounds, I choose a time to sort, schedule, file, and research these items.

With many items coming through our household, I usually keep one or two on-going tasks that need to be done in the pile. However, having a designated place for each bill, statement, important document, and insurance item makes filing day manageable.

In keeping the insurance documents manageable and off my desk, I have designated a home for them in Box 2 of my important documents filing system. Behind our summary insurance page in the first file opening, I keep our annual enrollment reports.

Most of our insurance policies are through group plans at Paul’s work. Each year, we attend an insurance meeting with a representative to select, review, and/or change our insurance selections. During odd years (i.e., 2011), we have open enrollment, where we can add, delete, or change any insurance we hold through these plans. Next year during an even year, we will have annual enrollment, where only some of the insurance policies are available for additions, subtractions, or changes.

The minimum number of documents I need to house in this first file opening of my insurance documents is two years worth. Since the open enrollment covers two years with only limited changes available the second year. However, I currently have six years worth for reference and confirmation of our choices. You do not need to keep this many. This is just my personal preference.

Annual Enrollment Reports

In this file slot, I keep these following documents:

    • Business card of representative from insurance meeting
    • Summary of new elections
    • Summary of payroll deductions
    • Summary page of each policy change
    • Copy of any new enrollments with premium charges
    • Statement of Benefits
    • My notes and calculations for future comparison
    • Insurance booklet which explains all the new changes for the current enrollment period

All these documents are then stapled together. I write the enrollment year on the front of the documents and house them in this file opening. In January, when the new premiums take effect, I will refer to these documents to verify that the payroll deduction amounts are accurate.

I will also refer to these documents during annual enrollment next year before our insurance meeting with our representative. For the most part, these documents just reside in this file until needed.

By having a designated place, I am able to keep my desk free from excess clutter and can quickly locate these documents in the file. As you organize your documents, the process may be slow, but the clutter-free office area will be a welcome reward. Keep plugging along while using time wisely. Happy organizing!

Question: Do you have open enrollment each year, or do you alternate between open and annual enrollment? Please add your answer to the comments.

Filed Under: Document Organization, Personal Insurance, Box 2 Tagged With: insurance, personal

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