How to get the best deal on Health Insurance.

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Question: How to get the best deal on health insurance?

Answer: Call Comrade Financial Group

In Maryland, District of Columbia and Virginia you and your business have a wealth of options when it comes to on and off exchange plans. When you think about over 2000 options for Small Group Health Insurance and close 100 options for Individual and Family Health Insurance it is sometimes mind boggling to all of the options and choices.

We would like to break things down and make it a little simple. As most consumers only shop based on monthly premium and that is the biggest mistake you can make for you or your business. You do get what you pay for and if you take a little time to go over each plan option and benefit description, it does make sense about what your best choice should be.

The main thing you should think about is benefit level. Do not let the Metal levels fool you when it comes to benefit level. All plans are not created equal as you will find in the differences between HMO, PPO and POS plans. The benefit level describes all of the free benefits that come with a monthly premium and also what percentage of risk you assume as a client of that particular insurance company. Many of our new clients are still stuck on having a Co Insurance and do not fully understand their true liability. Once you have chosen your benefit level, then it is time to take a look very carefully at your liability level.

The liability level is pretty self explanatory when it comes to a deductible, but it is still tricky. Some plans only require a deductible to be met if you are hospitalized while others want the deductible to be applied to all services up to and including prescriptions. When you take time to understand these plans and options that most brokers should point out and often we find others do not, then you are taking unnecessary risk.

When shopping for a plan, do not rely on an insurance professional that does not have all of the answers. It is really not that hard to become fully fluent in all of the insurance jargon and the plans and how they can help each individual client. Quotes are free and our time spent with you is time well spent.

In conclusion, choosing a health insurance policy either on exchange or off exchange we urge you to fully understand all of your options and not just the lowest premium.

2013 Health Insurance Subsidy Income Guidelines

Health Insurance Subsidy Income Guidelines

Comrade Financial Group has helped many individuals and families in the Maryland, Washington D.C. and Virginia are obtain Health Insurance with and without subsidies. It is important to remember that this subsidy is an advanced tax credit to help with the monthly premium and not a gift. The amount of help depends on your tax filing status and MAGI which is Modified Gross Adjusted Income. See the chart below for income guidelines to see if you fall into the Federal FPL guidelines.

 

Each year when you complete your tax return, your income is calculated and if you have had insurance for more than 9 months you will not have to pay the ACA penalty. If you have not, there are penalties that increase for the next 3 years, unless the ACA gets repealed. Based on that income your subsidy could increase or decrease. For more information please call us.

FPL Guidelines

Thank you

Jack Fleming – Insurance Broker

 

About our Insurance Agency

We put together a quick video telling the world a little bit about why we started, what we do and why we do it. Enjoy and share with your friends. Thanks

Health Insurance Options

Comrade Financial Group put together this brief video going over changes for Health Insurance under the Affordable Care Act for residents in Maryland, DC and Virginia.

Open Enrollment Confusion

Most people are unaware that yes Obamacare or Affordable Care Act open enrollment starts on October 1st with effective dates of Jan 1, 2012. That is for individuals and family plans. The Small Business open enrollment will start Jan 1,2014 with effective date of Mar 31, 2012. The majority of the people still don’t have a clue about their current plans and if they will continue through that start of ACA implementation. If your current plan was in place prior to Mar 1, 2010 your plan could be grandfathered but please check to see if the benefit level is increasing to match the new required Essential Health Benefits. If not, then your plan is on the old system of doing things. Please check with a knowledgable broker on the subject if you are unclear.

 

Income Replacement MD,DC,VA

Income Replacement 

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Comrade Financial Group offers income replacement strategies to replace all or part of your income when you decide to retire. The most important part of this strategy is that the income is Tax Free! If you are still in your working years and looking at diversification of your portfolio, we can help. During your working years this product has death benefit protection that builds and grows under your cash value of the product. This cash value provides an emergency fund, premium flexibility, control over your account, tax deferred and sometimes tax free growth, and competitive growth compared to other products currently offered. We all would like to have an emergency fund, before the emergency. Everyone wants to have the flexibility of lowering a premium payment to help get through a rough patch. We are here to help. Ask us how we can find the solutions for your concerns. Also see our page here for more information. Thank you.

Jack Fleming – Financial Consultant