Packard and Nason Insurance is no longer a joint office because of strict Medicare and insurance regulations, the insurance brokers have said.
“Due to legalities with Medicare as well as some of the auto and home companies, they will not allow us to bear the same name,” said Ed Nason, an insurance broker who recently moved his office into the building next door to what’s now known as Packard and Associates.
Ed Nason Insurance Group, now located at 419 E. Market St. in a building purchased from the City of Logansport, said little else is changing besides the address and phone number. That’s now 574-732-4100.
“Same great taste, just different number,” Nason said.
The two businesses have always been incorporated separately and were simply operating under the same name for simplicity’s sake.
Nason’s entity purchased the auto, home and business insurance side of the business from Packard and Associates on April 1, 2011. That left Packard with the life, health, disability, long-term care, annuity and senior health/drug plan side.
“At the time of the purchase it seemed to make sense, in an effort to keep things easy and simple for the clients, that Packard and Associates Inc. and Edward Nason Inc. operate out of the same location under the Packard and Nason name,” explained Dave Packard.
However, staffing and operating both businesses at the same spot has proved cumbersome, he said. Stringent privacy requirements that accompany the senior health/drug plans and other products that have been introduced in the U.S. as part of the Affordable Care Act meant it would be easier for the two offices to split.
“It just seemed that the writing was on the wall,” commented Packard.
Packard retains the former address and phone number, 417 E. Market St. and 574-722-4725. Both offices remain open from 9 a.m. to 5 p.m. on weekdays.