Category: Brandpoint Business & Finance

2018-08-01T08:33:00

(BPT) – Some experts estimate that as many as 80 percent of Medicare beneficiaries choose to stay in a Medicare prescription drug plan (“Part D plan”) that doesn’t match their needs. Studies show that these individuals could benefit from cost savings and better coverage by taking the time to select a different Part D plan. If you decide to evaluate your Part D coverage, here are some common hazards to avoid along the way to finding the plan that’s best for you.

Hazard 1: Getting distracted by premiums

Cost may be the determining factor in many of your purchases. However, when shopping for a Medicare prescription drug plan, cost, or specifically the plan’s monthly premium, should be only one of the factors to consider. If you’re a person who takes only one or two prescription drugs, you may opt for a lower-premium Part D plan. However, if you take three or more medications, you may need more comprehensive coverage, which may result in your considering a higher-premium plan. Always evaluate your overall annual cost for the plans you are considering.

Hazard 2: Failing to check if or how your drugs are covered

Your Medicare Part D plan will include a list of covered drugs called a formulary. Be sure you check if your prescribed drugs are on the list and, if so, how they are being covered by the plan you’re considering. Remember to check the copay for each medication, which will vary from one plan to another.

Hazard 3: Forgetting to look for a plan that offers preferred pharmacies

Plans that provide a preferred pharmacy network offer cost savings to members. Checking the local preferred retail pharmacies within the plan’s network that you’re considering may offer you the greatest retail pharmacy savings. Plans that offer mail delivery in their preferred network for medications you use regularly provide the convenience of having them delivered right to your door. Mail delivery may offer more savings than what you would get at a preferred retail pharmacy.

Hazard 4: Selecting a plan without checking the stars

Remember to check each plan’s Star Ratings before you make your choice. The plans are ranked from one to five stars based on criteria set by the Centers for Medicare & Medicaid Services, such as customer service and quality of care offered to a plan’s members.

Hazard 5: Detouring from your roadmap

By staying informed and doing your research early, you can prepare and follow a roadmap to help you reach the desired destination: the Medicare Part D plan that’s right for you. Avoiding detours along the road could save you money on next year’s plan, which will help you remain on the medications you use by providing coverage that best meets your needs.

Learn how to prepare for the road ahead before the start of Medicare’s Annual Enrollment Period (Oct. 15 to Dec. 7) by visiting roadmapformedicare.com.

2018-07-20T11:01:01

(BPT) – Many companies, large and small, are now offering work-from-home options. In the past decade, an increasing number of firms are offering the choice, whether it’s a full-time opportunity, or a side benefit employees can use one or more times a week. According to the 2017 State of Telecommuting Report, 3.9 percent of U.S. employees work from home at least half the time. That’s a whopping 115 percent increase since 2005.

Letting employees work from home has many benefits. It can save money on overhead costs. Without commute times and distractions getting in the way, telecommuting lets employees begin the workday earlier and get more focused work done at home.

Surveys show that companies that offer work-from-home options see a positive effect on employee retention, plus they find employees return to work sooner after an illness or surgery, according to Global Workplace Analytics. Both of these things can have a positive effect on a company’s bottom line.

Whether your goal is to let people work remotely all the time, or give employees the option to telecommute a few days a week, it requires thought and planning so you can avoid productivity pitfalls and security breaches. That means offering the right systems and tools that can replicate the systems used in the physical office space. Before you begin planning, here are key considerations.

1. Set and define expectations

Setting expectations is an important first step. For example, define which employee interactions call for a more personal method of communication. Brainstorming sessions and monthly check-ins, for example, may be better suited for video conferencing, while electronic messaging may be fine for updates, quick questions and other day-to-day interactions.

2. Don’t leave security to employee promises

It’s crucial to take steps to guard off-site devices against cyber thieves, so they don’t gain access to sensitive company or client information. Relying on data policies alone has its limitations because the risks of working in an unsecured network are not always understood or fully appreciated. The more reliable remedy is to use a data protection solution. This not only encrypts data on all devices, it lets you stay in control of who can access this information.

3. Keep access to files easy and secure

One of the problems with telecommuting is when devices malfunction, break down or are lost or stolen, important files can get lost or damaged. This destroys any productivity gained and, again, risks sensitive information getting into the wrong hands. Cloud-based solutions keep documents off individual devices by giving employees a secure portal to files and software. Because these cloud solutions are web-based, accessing these can be as easy as opening a web browser and entering a user name and password.

4. Make sure employees have the tools they need to get their job done

Depending on the profession, PC setups at home must vary to suit a worker’s needs. Employees such as designers or engineers, who spend their days coding and creating content, need more powerful systems with the appropriate applications, storage and performance, while professionals who travel consistently from their home office to client presentations and coffee shop meetings require a more versatile and mobile device, such as a laptop or 2-in-1.

No matter the role or responsibilities of today’s work-from-home employees, a PC setup is not complete without a full complement of high-quality computer accessories and peripherals. Busy professionals can comfortably multi-task with the addition of dual displays, as well as leverage a mouse, docking station and keyboard, to enable a fully productive and efficient work space.

5. Open the lines of communication

Work-from-home jobs that require time on the phone with colleagues and clients may need a more robust voice communication system than using their personal mobile devices. A voice over internet protocol (VoIP), for example, gives you multiple ways to let remote workers easily establish voice (and video) communications. Whether they need to transfer a call, hold a video conference or have a conference call, VoIP offers a seamless way to bring people together across the miles.

Now that you have the fundamentals of building a good work-from-home system, you’ll be on your way to offering a popular workplace benefit that won’t compromise security or productivity. For more on how you can enable remote work for your business, contact Dell and find out how smart, secure tech can empower your company.

2018-07-11T07:01:00

(BPT) – Just as everyone is settling into summer, parents around the country suddenly realize that the start of another school year is right around the corner. The back-to-school season seems to start just as the last school year ends! This year, rather than getting caught off guard, be prepared with some tips to reduce mental and financial stress.

Create a back-to-school budget

Most parents believe that school costs are increasing and 70 percent of them create a budget to better manage these rising costs, according to a Coinstar back-to-school survey. When making a budget, consider required school supplies and clothing as well as additional costs that may be incurred throughout the school year for activities such as a science fair or field trips. If your child participates in music or sports, be sure to add these anticipated costs into the budget, too.

Take a bite out of back-to-school costs

Get creative to reduce stress and the strain on household finances. For example, collect spare change from around your home and bring it to your local Coinstar kiosk to convert it to cash or a no-fee eGift card. You’ll be surprised how quickly this can add up to offset expenses. Then, try shopping at second-hand or discount stores for items like a gently used backpack or discounted coats. Finally, check out community sites like Nextdoor, which can be a great resource to find used items or provide an opportunity to swap musical instruments, sports equipment or clothing with neighbors.

Begin back-to-school shopping early

You don’t want to cut your summer short, but waiting until the last minute to shop can cause unnecessary stress. Make a list of essentials, including school supplies and clothing, and start shopping early to take advantage of better selection and sales. What’s more, you’ll beat the pre-school shopping rush. While most parents report shopping at big-box retailers for back-to-school, consider online shopping as well for price comparisons and added convenience.

Shopping alone may keep you on budget

The majority of parents prefer to shop with their children for back-to-school supplies and clothing. However, about half of parents who responded to a Coinstar survey said that they spend more when shopping with their children compared to only one-third who exceed their budget when shopping without kids in tow. Therefore, consider going it alone and stick to a list to stay within your budget.

Mentally prepare for back-to-school

Summer vacation is a great time for families to relax and take advantage of the long days. Pushing bedtime to a later hour and sleeping in is the summer norm. To prepare yourself and your kids for the new school year, start your evening and morning routines a couple of weeks early so everyone can adjust. You want your kids to be well rested and ready to go on day one. It’s also a good idea to talk with your children about the new school year so that you can understand their mindset and address any potential worries or concerns.

For more information about turning your coins into cash or a no-fee eGift card, visit www.coinstar.com today.

2018-06-28T07:01:01

2018-06-26T14:01:00

(BPT) – LinkedIn reveals what company culture means to employees, and the factors companies must prioritize in order to win the talent war.

2018-06-25T09:01:00

(BPT) – As American baby boomers begin to exit their careers and opt for more leisurely lifestyles, some 10,000 are expected to retire every day through 2029.

While many are scaling back their incomes in retirement, however, most have no intention of becoming out-of-touch with modern trends and innovations. Fortunately, keeping up-to-date and attuned to fashion doesn’t have to cost big bucks.

“We boomers have every bit as much to offer as the millennials or the Gen-X’s or the Gen-Y’s,” writes Forrest Brakeman in the Huffington Post. “Hell, we invented the world as they know it. But to bridge the generation gap, or chasm, we need to stay relevant.”

The following suggestions can help you stay current as you age, even when you’re dealing with a conservative budget.

* Shop secondhand. If you’ve never shopped in thrift and consignment stores, you may be surprised at the up-to-date clothes, shoes and accessories that are often available at very attractive price points. Enjoy the thrill of the hunt and the possibility of scoring big on recently released goods, some with the tags still attached. And forget about any stigma; you’ll be shopping among people of all ages, from all walks of life.

* Consider vision insurance. Now that eyewear is such a fashion statement, eyeglass styles tend to change fairly frequently. Fortunately, when investing in the comprehensive coverage offered by VSP Individual Vision Plans, you can regularly replace your glasses without dating yourself by wearing outdated frames. Regular eye exams are also covered at prices well below walk-in rates; the average VSP customer saves more than $200 annually on eye care expenses. And VSP offers the largest network of independent eye doctors in the nation.

* Scout out daily deals. Online coupon sources such as Groupon and LivingSocial frequently offer excellent bargains on personal services such as haircuts, manicures, pedicures, massages and skin treatments so you can look relaxed and well-groomed — without breaking the bank.

* Rent for special occasions. These days, many high-end luxury products are available for short-term rental. Instead of paying full price for glamorous formalwear, jewelry or upscale sports cars, rent them out to enjoy to the max when you have a special event to attend — or when you simply want to treat yourself.

* Buy online. If you’re not already well-versed in online shopping, now is a good time to learn the ropes. Resist paying full retail in stores until you check sites like Amazon, Etsy, eBay or Overstock to see if you can find your merchandise of choice at lower prices. Often, it’s ridiculously inexpensive (or free) to have such goods delivered straight to your doorstep, or to the doorstep of a loved one. You can also use tools like PriceGrabber to compare online prices on your behalf, then peruse the additional retailer coupons frequently available on sites such as RetailMeNot or Coupons.com.

In short, there’s no need to deny your sense of fashion just because you’re entering the so-called golden years. Form your strategy now for finding the best deals on the trending fashion that keeps life fun — and keeps you from falling into a style rut.

2018-06-22T07:01:01

(BPT) – What drives someone to take the risk and start their own business?

In many cases, it’s the knowledge that they can offer a great product or introduce new solutions to old problems. Passion and determination put entrepreneurs at the forefront of innovation.

What’s remarkable about so many small and medium-sized businesses today is that it’s not just the bottom line they’re after. Businesses are more focused than ever on socially and environmentally conscious causes.

Take, for example, small business Bayou with Love, who partnered with Dell to create a jewelry line using recycled gold from old computer motherboards. The jewelry line is just one example of a small business prioritizing doing good for the planet.

Cuvee Coffee practices direct trade, a model that considers environmental, financial and social sustainability as well as personal relationships. It builds partnerships with farmers who are good stewards of the land, pay fair wages to their workers and are often leaders in their communities. Cuvee then pays well above market prices for their coffee and in return, the company gets the very best coffee and the farmers make substantial profits.

By using ethical and altruistic principles to guide business practices, these entrepreneurs practice what many call “conscious capitalism,” and investors are taking notice.

Investments from angel investors and venture capitalists have helped these businesses play their part in a national and global trend toward social betterment in business.

Here are a few ways small businesses can benefit from conscious capitalism.

It opens the door to more capital from investors

When a company launches a humanitarian initiative or implements an ethical program, people pay attention.

According to Fundivo, angel investments in altruistic businesses have been steadily growing since 2002 and roughly four jobs are created per investment. Moreover, a recent study from The Forum for Sustainable and Responsible Investing reported that under sustainable and responsible investing guidelines, a total of $8.72 trillion was made in 2016, showing a 33 percent increase since 2014.

Increased networking opportunities through crowdsourcing

By helping businesses reach like-minded changemakers, the tech industry has made it easier for small businesses to maintain a conscious mission statement along with a profitable bottom line.

In particular, funding for socially-conscious businesses has become more easily achievable through crowdfunding campaigns on Kickstarter and Indiegogo. Even Kickstarter owners Yancey Strickler and Perry Chen insisted that their crowdfunding platform become a Benefit Corporation, ensuring they remain focused on their mission to bring creative projects to life rather than simply increasing the size of their own profits.

These crowdsourcing platforms are an efficient way for companies to find investors, but also to network and get their message out to a broader public.

A boost from tech

At the center of many altruistic businesses is the robust use of technology, which has allowed many highly successful small businesses to support social and environmental causes.

It’s not only that having dependable and easy-to-use technology is critical for these businesses, but many tech giants have implemented programs to support conscious capitalism in small businesses.

For instance, as one of the world’s leading IT suppliers, Dell has been particularly passionate about helping businesses with an eye for social change and environmental consciousness. Through its 2020 Legacy of Good plan, which outlines its own sustainability goals, it has helped small businesses use technology in a way that drives progress and social change.

Dependable and affordable technology is essential to promoting social change, and that’s why so many entrepreneurs and investors are realizing that when paired with technology, ethical business practices can do a lot of good and turn a profit.

2018-06-21T07:01:24

(BPT) – Should I lease or should I buy?

It’s a question everyone eventually stumbles upon. Most of the time there is no one-size-fits-all answer.

With the pace of technology moving faster than ever, and leasing options becoming more available, the prevailing wisdom is changing. The sharing economy makes leasing (or renting) easy and affordable.

Beyond considering leasing options for your personal car, residence and more, entrepreneurs and small business owners are taking advantage of leasing’s newfound prevalence for their business needs.

Hotel and accommodation

Technology has made the world feel small. You can do business with people across the world in real-time. More and more, small businesses are exporting their offerings around the globe. The US Small Business Administration even encourages doing so and provides counseling to start exporting.

But sometimes, you’ve got to go in person. For small businesses on a shoestring budget, the cost of traditional hotel rooms for you and your employees is a bill many would like to avoid.

Companies like Airbnb are now offering “business options” for business travelers. This can save money over a traditional hotel room.

Furthermore, for small businesses that may operate in two or more cities with employees frequently traveling between the two, startups can lease corporate apartments, permanent accommodations available to employees who are in town from another business location.

For many small businesses, corporate apartments make sense financially. They alleviate the hassle of booking hotels, minimize costs and allow employees to feel more at home when they are on the road.

Offices, conference rooms, meetings rooms and more

The word “co-working” has made its way into the startup community and taken a permanent place there. Co-working is leasing an office from a co-working group where many other businesses operate sharing the same facilities and community areas.

“Co-working just makes sense for entrepreneurs. It’s collaborative, it improves productivity. For me, starting the Lemon Collective was a natural extension of my work as an entrepreneur. I knew myself and others like me would work better and succeed more in the environment we envisioned and created,” said Kate Zaremba, co-founder of The Lemon Collective.

Organizations like WeWork, the world’s fastest-growing co-working space, provide small businesses a host of benefits from more affordable office space options to professional meeting rooms in locations all over the world, to the opportunity to work and collaborate next to like-minded innovative thinkers.

The icing on the co-working cake? Ninety percent of those surveyed in a co-working space said they felt more confident when co-working.

Technology for freelancers and small business owners

Whether you’re a freelancer, work as part of the gig economy, own a small business or have a side hustle that makes your laptop your office, leasing a computer might be an option you never considered.

Technology keeps changing and improving, and an outdated computer can put you at a disadvantage.

Software as a service, or SaaS, is a software delivery model where software is a subscription charge rather than one-time fees and is then centrally hosted. This is especially advantageous for small businesses that aren’t ready for an IT department.

The same holds true for hardware, as leasing laptops and other vital technology is an increasingly popular option for small businesses.

A study by Techaisle showed 36 percent of SMBs had PCs four years old or older. Many use old PCs as a cost-saving measure, not recognizing that outdated PCs lead to additional bottom line costs and significant productivity loss — outdated PCs result in an average of 42 lost productive work hours per year.

The big advantage: Costs remain consistent in a lease contract and your business can always afford to use up-to-the-minute technology. It also leaves capital available to invest elsewhere.

Small business breaks for leasing

“Each small business should check with their tax accountant right away to determine how leasing can be a benefit,” recommends Rick Stipe, VP of Dell’s Financial Services.

The IRS’ Section 179 permits a business to deduct the full price of either purchased or leased equipment in the current tax year — up to $1 million in 2018. And though both leased and purchased tech can offer tax benefits, remember to weigh the costs of depreciation on purchased goods.

The IRS considers a laptop an information system, with a reasonable lifespan of five years. Hardware retains its value, by IRS standards, for the length of its life. The latter includes monitors, scanners and computers. Leveraging these categories can help small businesses optimize their yearly taxes.

If you want to know more about how technology leasing can help your company or lifestyle, contact Dell’s Small Business advisor team and discover new possibilities for your bottom line.

2018-06-19T09:09:00

(BPT) – How big is your retirement nest egg? Is there a chance you could outlive it? Even if you’re socking money into your 401(k) every paycheck like clockwork, that’s a question worth pondering. Americans are living longer, more active, younger lives. They say that 60 is the new 40, and if you look around at who we used to call “senior citizens,” you’ll see people in their prime. That’s the good news.

It also presents a problem. We’re all facing a silent, growing crisis. Study after study, including financial research organization LIMRA’s 2016 Secure Retirement Study, shows that many Americans underestimate their retirement expenses. Today, retirement isn’t the end of your life, it’s a transition point. It’s about enjoying the fruits of your labors without the stress of your 9-to-5. Will you have enough money to do that for the rest of your life?

Kent Sluyter, president of Prudential Annuities, says the first step toward achieving that goal is to change your mindset. We’re all programmed to think about retirement savings, contributing to that 401(k) and accumulating wealth month after month and year after year. That’s important, no doubt, but it’s only one part of the retirement puzzle. It’s also about generating regular income during retirement, so you’re not simply depleting your accumulated retirement savings with nothing coming in to replenish the pot.

One way to get a regular “paycheck” during retirement, Sluyter says, is with annuities. But they’re not top of mind for many people, and misinformation and confusion is floating around out there, even in financial advisors’ offices.

“The annuities market is at an inflection point,” says Sluyter. “Annuities are passed over by many consumers and investors because they are often perceived as expensive and unnecessary.”

Annuity sales fell 8 percent in 2017, according to LIMRA data. Observers attribute much of the drop to the Department of Labor’s Fiduciary Rule that governs the way financial professionals sell and market annuities. The rule made it less attractive for many to sell annuities and created a great deal of media coverage that amplified existing negative perceptions of them. Annuities have a reputation of being complex, which only increases the risk of their being misunderstood. However, annuities can serve a critical purpose within a retirement portfolio among a combination of strategies, investments and products.

That’s why several companies, including Prudential, recently established the Alliance for Lifetime Income with the goal of promoting greater understanding of how annuities can protect retirement income and help grow retirement savings.

“Through the Alliance, we’re fostering clarity and simplicity, so consumers have confidence in lifetime income solutions such as annuities,” says Sluyter.

Annuity 101

What are annuities, exactly, and how do they differ from other retirement savings? Here’s a short course in Annuity 101.

An annuity is an insurance product that guarantees income. Just like an insurance policy, you pay into it, often in a lump sum, and it guarantees you monthly, quarterly or yearly payouts for the rest of your life. There are three different types:

Fixed annuity. These allow you to lock in a rate of earning that, even over lengthy periods of time, remain unaffected by market ups and downs.

Indexed annuity. This is tied to a stock index, giving the annuity the potential to grow if the index goes up. If it goes down, you still get any minimum rate of return you agreed to when you bought it.

Variable annuity. If you’ve got high risk tolerance, this may be the best choice for you. Your lump sum is invested, there’s no minimum interest rate guarantee and you may lose money.

Why are more consumers investing in annuities? Sluyter explains:

• Recent equity market volatility is making consumers nervous. Combine that with better clarity from the U.S. Department of Labor about the Fiduciary Rule, and annuities are once again becoming more attractive. Current industry expectations are for a slight uptick in sales this year.
• The 2017 Language of Retirement study found most Americans favor financial strategies that offer guaranteed lifetime income. Ninety percent of all consumers who responded to the survey are very or somewhat interested in receiving lifetime income, which is what an annuity can provide.
• The industry has evolved beyond traditional variable annuities, offering new, more flexible options such as fixed indexed annuities, which can provide protection and are tied to one or more indexes, rather than direct equity performance.

The bottom line is that protected retirement income can help provide much-needed peace of mind for many Americans.

Annuities are issued by The Prudential Insurance Company of America, Pruco Life Insurance Company (in New York, by Pruco Life Insurance Company of New Jersey), located in Newark, NJ (main office), or by Prudential Annuities Life Assurance Corporation located in Shelton, CT. (main office). Variable annuities are distributed by Prudential Annuities Distributors, Inc., Shelton, CT. All are Prudential Financial companies and each is solely responsible for its own financial condition and contractual obligations.

2018-06-18T07:01:00

(BPT) – Whether you’re new to a city and are getting on your feet, or you don’t want the commitment of a longtime lease or loan, there are countless ways to put some dough in your pocket without the need to purchase a car. Working with a flexible schedule doesn’t necessarily mean that you need to be tied to traditional car ownership. Here are five simple ways to make money on your own time.

Pet sitter

If you love animals, consider offering your services to people in your area. Depending on your schedule, you could become a dog walker or pet sitter, where you visit the animal during the day while the owner is at work. Another option is pet boarding out of your home. This can be particularly great for dogs. Kennels are expensive, and many dog owners will consider qualified and trustworthy home boarding options as an alternative to kennels when they are out of town. Advertise and build up your own clientele or use a site like Rover.com to network.

Driver

Want to try out ridesharing but don’t own a car? Or maybe you don’t want the commitment of a longtime lease or loan? Car ownership and contracts can be expensive, but you can curb or even eliminate the cost and earn money by participating in the Lyft Express Drive. The program provides affordable access to rental cars through partners like Hertz and Flexdrive. Drivers have access to a Lyft-exclusive starting weekly rental rate of $209 per week (plus taxes and fees). However, this cost can drop with Express Drive Rental Rewards, a program designed to make each rental more affordable. If a renter gives a certain number of Lyft rides each week, some or all of the rental costs can be covered by Lyft’s Rental Rewards bonus. Learn more at www.lyft.com/expressdrive.

Tutor/coach

What skills do you have that others could benefit from? Do you speak another language? Have a degree in mathematics? Play an instrument? Did you go to college on a gymnastics scholarship? Whatever your specialty, your skills could be in high demand. Many parents pay top dollar for their kids to get private tutoring or coaching lessons. Create a resume that stresses your specialty and begin advertising on neighborhood websites and other local places. Once you start successfully tutoring one or two students, create a referral program to encourage word-of-mouth recommendations and grow your business.

Freelance

The gig economy refers to the labor market of short-term or freelance workers, and it’s growing quickly in the United States. Some people find so much success with freelancing that they quit their full-time work and do contracts as their schedule allows. You may not be ready to do that, but you can make extra money using your professional skills for short-term telecommuting gigs. Upwork and Indeed.com are just two websites where you can find short-term employment that fits into your spare time. You could also consider advertising your skills on your own by creating a professional portfolio online and reaching out to potential clients.

House cleaner/handyman

Everyone loves a clean house, but not everyone loves to clean. If you enjoy getting down and dirty in order to make rooms shine, consider housecleaning as your side gig. Whether you’re sprucing up a kitchen or tackling a pile of laundry, this can be incredibly lucrative and easy to flex around your schedule. If your skills are more with a hammer or screwdriver, you might consider becoming a part-time handyman. As America’s baby boomer generation ages, the need for help around the house like this will grow. Start building your clientele list now.