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 If you have not, there are penalties that increase for the next 3 years, unless the ACA gets repealed.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.

 

All about Disability Insurance!

All about Disability Insurance 

Individual Disability Insurance is a great idea.  It is Insurance designed to replace anywhere from 40-60% of your gross income on a tax-free basis should you become Sick or Ill and keeps you from earning an income. All policies are different and it is very detailed so you can’t really shop online for it. You have to contact an Insurance Broker to find out exactly what you need and expect from the policy. If you work in an office, your premiums will most likely be lower than an Iron worker and vise versa. There is Own Occupation which is the most comprehensive you can get. There are other policies like Income Replacement and Gainful Occupation that pay less but that is the best reason to call someone and discuss your options. No one expects to become Disabled, but it happens and there is Insurance for it. You can also use riders to Life Insurance policies and Annuity contracts that can accomplish the same coverage.

Jack Fleming – Ins. Broker


Individual vs. Group Health Plans

                  Individual vs. Group Health Plans

There are first some basic fundamentals about insurance.
The first one is that Insurance is by definition the method
of reduction of risk by spreading the risk to many people.
There is a law of large numbers that is applicable for any
Insurance to work. The Insurance companies use mortality
tables and actuaries keep detailed data on Health trends as
well as Life expectancy. So therefore If you are one person
looking for specific type of Insurance, then you might have
a very high premium. However if you are just like or very
similar to a large group of people seeking Insurance for
a common thing like Life Insurance, then your premiums
will be lower. Health Insurance is based mostly on Family
history and risks that are known, either by you answering
a question on the application, or from past Dr. visits and
past medical history. So if 7 people from your family have
all passed away from Heart Disease, then expect your
premiums to be higher. The most important thing with
any Insurance policy is to have a great agent. You can find
one at Comrade Financial Group. Then once you get a
policy, read, read, read and then ask plenty of questions.
Just remember that no question is a stupid questions. It’s
your Life, It’s your Health so step up and educate yourself.
Thanks again for supporting my agency and my blog and I
will be happy to answer any questions that come my way.
Jack Fleming Ins. Broker

Grand Opening for Comrade Financial Group

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Jack Fleming is proud to announce the grand opening

of Comrade Financial Group. Choosing a business name

is really pretty difficult. After you type in hundreds of

names and finally find one that’s not taken, then you have

to look up every conceivable definition of that name.

I chose Comrade Financial Group for many reasons.

First Comrade is defined as friend or ally in over 60

different languages. As a Veteran of the U.S. Army

having served in the Gulf War during Desert Shield

and Desert Storm of 1991, I know what a comrade is.

My fellow Paratroopers in the 82nd Airborne Division

helped me learn and live by the rules of Honor,

Dedication, Hard Work and always moving forward.

I have applied these same principles to my agency of

helping those that would other wise not have a full

understanding of the Insurance world. We all know we

need insurance, but what is the best product for you

and your needs at any specific time in your life? That’s

why I have started my agency to help clients understand

the big picture. I will be here for you and your needs.

Also a great big Thank You to all of my friend and family

that have helped me achieve my dream. I look forward to

serving you and your family’s needs.

Jack Fleming