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.
Every day I speak to people about their Health Insurance. They rarely know what their Deductible is, and almost always they do not have a clue what their Co Insurance is. This is a major problem because having the wrong Co Insurance could make you liable for a whole lot of charges. Comrade Financial Group will always recommend a 0% Co Insurance for all plans we offer Individuals and Families.
What is Co Insurance?
Your Co Insurance is above and beyond what you would pay after your deductible is met. So you tell me that you have a $1500.00 deductible! That is great, but your co insurance is 20%. So lets just say that you incur medical bills in the amount of $15K. You would pay your deductible of $1500, then 20% of the remaining $13,500. Some carriers don’t have Co insurance lower than 40%!
Make sure that your Health Insurance plan has a 0% Co Insurance!
Jack Fleming – Insurance Broker
All About Annuities!
I really wanted to do a blog post about Annuities! In this Economic environment, you really can’t earn a decent return using CD’s. Okay, if you want 1%, that is fine, but with the inflation rate around 3%, you are going backwards. Annuities right now are giving 2 to 3 times that with simple Fixed Annuities. There are many carriers out there offering a variety of products like Fixed Annuities, but their rates are not that much above what you can get for a long term CD. The key is looking for the right Carrier. The best thing or concept I love about Annuities is that you will and can earn Interest on the Interest you already earned. So that is compounding in its most simple form. If you have some savings, a underperforming 401K, or you are just looking to start a rock solid Retirement Plan. I strongly suggest looking into Fixed Annuities as part of your Retirement portfolio. Remember that some Annuities will offer Withdrawal options, some at 5% and some at 10%, these are penalty free. Heck some carriers are offering Premium bonuses just to get one started. Also another important thing to remember that just like any other Insurance product, read everything and make sure you understand it. That is where Comrade Financial Group can help. No Pressure, just information.
Jack Fleming – Insurance Broker
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
It was time to do a blog posting about my Insurance Agency. Some people have asked me why “Comrade”. Most people don’t understand what Comrade actually means. It means “Friend” or “Ally” and of course over the years there have been many meanings to many words. Coming from a Combat Veteran of the 82nd Airborne Division, it is better to be a friend of Jack, than not. I started this Agency with a passion for helping people with their money.
Over the years and in my own life, saving money and getting the best deal I could was a primary concern. I meet people everyday, some I can help and some I can’t, but I have given my best effort in helping them make their lives better. There is no
secret about Insurance, Its there and will be there long after I am gone. But there are masses that still don’t understand it. They just know that if they pay they will be covered. As a Insurance Broker, there is the innate ability to pick and choose what product best fits the needs of the client. I am not Superman, just a dedicated professional with a tireless passion.
If you have found this blog post, we have just had a chance encounter to help make someone’s life a little better. Thank you all for your continued support and word of mouth advertising. It is greatly appreciated. Thank You!
Great article about what Vermont is doing to help its
citizens have Affordable Health Care and help start a
National trend. There are many many programs that are
out there for review and each plan works differently so
the big question is, Will it work? We will follow these
developments and report in the future about Vermont’s
legislation. When I was in the Military and went to other
countries, you could actually walk into a Pharmacy and
tell your symptoms and walk out with medicine. The
whole population paid what equals to 10% of their annual
income for Healthcare. It didn’t really matter whether you
were rich or poor, you had Healthcare that was available
to you. Of course, that country was not populated with
the Worlds highest Obese population. Also most of the
citizens did eat healthy and were happy. I am really
concerned about the future of Healthcare in the US due
to the big Corporations taking over Hospitals and on
the other hand, Insurance Companies. There is still
instances of the term Medical Bankruptcy that is always
out there and some of us know people this has happened
to, so please folks, Get Healthcare and take care of
yourself. By the way, I also like Maple Syrup!!
Jack Fleming Ins. Broker