Federal tax reform legislation was signed into law on December 22, 2017 and contains a provision that eliminates the individual mandate penalty starting in year 2019. Some may have questions about how elimination of the individual mandate penalty may impact their health coverage. I will try to address these questions in this video and help you understand how the elimination of the individual mandate penalty may affect you. What does this mean? - The only coverage-related change made by the new tax law is that the individual mandate tax penalty will no longer be in effect beginning in 2019. - The health insurance coverage, including financial assistance (subsidies/tax premiums), will NOT change in 2018. - The individual mandate penalty remains in effect for 2018 coverage; which means you will need to be insurance if you want to avoid paying a penalty in 2018. What does the elimination of the individual mandate tax penalty mean for consumers? • For 2018, individuals who can afford health insurance but choose not to enroll for coverage will be required to pay a penalty. What is the penalty for year 2018? The annual penalty is the greater of: - $695 for each adult and $347.50 for each child, up to $2,085 per family. -2.5 percent of the tax filer’s annual household income minus the federal tax filing threshold. • For individuals who do not buy insurance because it would be “unaffordable” for them, in 2018 they may not be required to pay a penalty if they file for an exemption from the penalty. Please watch our video about the tax penalty and exemptions You may be excused from paying the penalty if you qualify and file an exemption Here is a table outlining the timeline for when the individual mandate penalty applies: Also, when you file taxes you will need the Form 1095-A. This is your Health Insurance Marketplace Statement. (you will receive it in the mail at the beginning of the year) You can also contact your agent and they can help retrieving the form for you in case you didn’t receive it via regular mail. please subscribe to our channel for more videos! https://www.youtube.com/letstalkmoneychannel
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The following groups qualify for an exemption to the tax penalty: • No tax filing requirement. People whose income is below the minimum threshold for filing a tax return. The requirement to file a federal tax return depends on YOUR filing status, age and types and amounts of income. You can use the Internal Revenue Service’s Interactive Tax Assistant (ITA) to find out if you are required to file a federal tax return. • Short coverage gap. Consumers who go without coverage for less than three consecutive months during the year –are exempt from the penalty. • Hardship. Consumers who have experienced difficult, financial or domestic circumstances that prevent them from obtaining coverage — such as homelessness, the death of a close family member, bankruptcy, substantial recent medical debt or disasters that substantially damage a person’s property, also qualifies as an exemption. • Unaffordable coverage options. Consumers who can’t afford coverage because the lowest-priced coverage available to them would cost more than 8.16 percent of their annual household income- are exempt from the penalty. For Covered California, the lowest-cost plan would be the lowest-cost Bronze plan available to the individual. • Incarceration. Consumers who are in a jail, a prison or a similar penal institution or correctional facility after the disposition of charges (or judgment) against them- are exempt from the penalty. • Not lawfully present. Consumers who are not U.S. citizens, U.S. nationals or lawfully present in the United States are not subject to the tax penalty. • Religious conscience. Members of a religious sect or division thereof that has been in existence at all times since Dec. 31, 1950, and is already recognized by the Social Security commissioner as opposed to accepting any insurance benefits, including Social Security and Medicare- are exempt from the tax penalty. The Social Security Administration administers the process for recognizing these sects according to the criteria in the law. • Health care sharing ministry. Members of a recognized health care sharing ministry are also exempt from the penalty. • American Indian tribes. Members of a federally recognized American Indian tribe, or those who are eligible for services through an Indian Health Services provider do not have to pay the tax penalty and therefore exempt. Exemption applications are now available from the federal government. For more information and links to the application, visit www.healthcare.gov/exemptions or call the federal marketplace at (800) 318-2596. Individuals over the age of 30 who have certificates of exemptions must purchase please subscribe to our channel for more videos! https://www.youtube.com/letstalkmoneychannel
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please subscribe to our channel for more videos! https://www.youtube.com/channel/UCUT2dLC-nsm36IzOkemXRbA Do you know what an HAS is? Today I will tell you everything you need to know about HAS! An HSA- is a health savings account. An HSA is a special kind of tax-advantaged account that’s designed to help you pay for health care expenses. Anyone can open an HSA, as long as they: • Have health coverage through a qualified high-deductible health plan. If you don’t have this type of health plan, you CANNOT open an HSA. • Are NOT covered by any other health plan • Are NOT enrolled in Medicare, and • CANNOT be claimed as a dependent on someone else’s tax return. As previously mentioned, you can withdraw money from your HSA without paying taxes or a penalty as long as those dollars are used to pay for qualified medical expenses. Qualified medical expenses include things that are associated with your health plan, such as: • Deductibles and coinsurance, • Vision care, • Dental expenses, • Over-the-counter supplies, and • Some insurance premiums. The account is owned by you, so no matter where you work, the money that’s in the account, always belongs to you—even if it was contributed by your employer. You can use the money in the account to pay for your current medical expenses, or save it for future medical expenses – including those in retirement. There are many special advantages to opening an HSA. You’ve probably heard of the Flexible Spending Account…well, unlike the Flexible Spending Account there’s no “use it or lose it” with an HSA. Any dollars left in your account at the end of the year roll over to the next year. That means you decide whether to spend or save your HSA dollars, which makes it easier to save for the future. Another advantage of the HSA is what we call triple tax savings. Here’s how that works: • Not only does the money that’s deposited into the account reduce your taxable income, • But, the balance in your account earns interest tax free, and • Any withdrawals from the account are tax free as long as the moneys is used for a qualified medical expense. That gives you a triple tax savings. And finally, one of the greatest advantages of the HSA is that it’s portable. Unlike other medical spending accounts that are owned by your employer, the HSA belongs to you, even if you change jobs or retire. Using your HSA is easy. Let’s start by talking about contributions. Both you and your employer can contribute money to your HSA. Remember, employer contributions are not taxable to you as employee, and once the money is deposited into your account, it belongs to you. The best way to contribute to your account is through automatic payroll deductions, if your employer allows this. Not only is this convenient, but payroll deductions help you make consistent contributions, and you get the most tax savings this way. Plus, you have the flexibility to change your payroll deduction at any time throughout the year. You have a lot of flexibility when contributing to your HSA. You can put money into your account at any time during the year, and you can even contribute up until the tax filing deadline, which gives you more time to fully fund your account. If you fund your account on a post-tax basis, you’ll realize the tax savings when you file your taxes for the year. This type of contribution becomes an “above-the-line” deduction. Let’s talk about how much you can contribute to your HSA. Every year, the IRS sets a maximum amount that you can contribute to your HSA. This maximum is based on your health plan contract type – single or family. • If you have single coverage, you can contribute a maximum of $3,450 in 2018. • If you have family coverage, you can contribute a maximum of $6,900 in 2018. These maximums include contributions made by you and your employer. Together, your contributions cannot exceed these amounts. Every year the amounts change. Of course, there are exceptions to every rule, and with HSA contributions the exception is that account holders who are 55 or older at any time during that year. These individuals can contribute an additional $1,000 every year to an HSA. This is called a catch-up contribution. There are just a few things to keep in mind when using your HSA. • Withdrawals from your account are tax free as long as the money is used for a qualified expense. • Expenses must be incurred on, or after, the date that your HSA
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Information provided by a licensed insurance agent (CA Lic. 0I21751). Summary of benefits will be posted as soon as they are available for year 2018. please subscribe to our channel for more videos! https://www.youtube.com/channel/UCUT2dLC-nsm36IzOkemXRbA
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please subscribe to our channel for more videos! https://www.youtube.com/letstalkmoneychannel http://www.sfcheapinsurance.com/ Let’s take a look at a comparison of Blue Shield of California and Kaiser. Both are the most popular plans in California and I some zip codes these are the only plans available for consumers. In this video, I will mainly compare the Kaiser HMO plan with the Blue Shield PPO plan. Make sure to watch this video until the end, as I will share with you the advantages and disadvantages of both Kaiser and Blue Shield.
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please subscribe to our channel for more videos! https://www.youtube.com/channel/UCUT2dLC-nsm36IzOkemXRbA When it comes to Medicare enrollment - there are certain times when you can sign up, and it’s very important to know it before you miss it or make mistakes. You should enroll on time. If you wait to sign up, you may have to pay penalties when you join. I will cover the penalties in another video. For now, let’s take a look at various enrollment periods Let’s start with Initial Enrollment Period – this is the first time you can sign up for Medicare. The Initial Enrollment Period (IEP) is the first time you can sign up for Medicare. • The 3 months before your 65th birthday, • The month of your birthday, and • The 3 months after your birthday. You may join Medicare Parts A, B, C and D during this time: It is important to remember that: - If you aren’t automatically enrolled, you can sign up for free Part A (if you’re eligible) any time during or after your Initial Enrollment Period starts. Your coverage start date will depend on when you sign up. If you have to buy Part A and/or Part B, you can only sign up during a valid enrollment period. - If you wait until the month you turn 65 (or the 3 months after you turn 65) to enroll, your Part B coverage will be delayed. This could cause a gap in your coverage. SPECIAL ENROLLMENT PERIOD Once your Initial Enrollment Period ends, you may have a chance to sign up for Medicare during a Special Enrollment Period (SEP). If you're covered under a group health plan based on current employment and you choose to keep current coverage past your 65th birthday, you have a SEP anytime as long as: • You or your spouse (or family member if you're disabled) is working. • You're covered by a group health plan through the employer or union based on that work. You also have an 8-month SEP to sign up for Parts A and B that starts at one of these times (whichever happens first): • The month after the employment ends • The month after group health plan insurance based on current employment ends You may join Medicare Parts A, B, C and D during this time: Again, keep in mind that you have 8 months to sign up for Parts A and B after group/employer health coverage has ended. For Parts C and D you only have 63 days to sign up after the group coverage has ended. Usually, you don't pay a late enrollment penalty if you sign up during a SEP If you miss your Initial Enrollment Period or your Special Enrollment Period, You have two additional periods to enroll. One of them is: - GENERAL ENROLLMENT PERIOD You can sign up for Part A and/or Part B during the General Enrollment Period between January 1–March 31 each year if both of these apply: • You didn't sign up when you were first eligible. • You aren’t eligible for a Special Enrollment Period During this time, you can only enroll in Part A and/or B It is important to remember that if you need to enroll in Part A, you must also enroll in Part B at this time. You must pay premiums for Part A and/or Part B. Your coverage will start July 1. You may have to pay a higher premium for late enrollment in Part Aand/or a higher premium for late enrollment in Part B. OPEN ENROLLMENT PERIOD – runs every year from October 15 through December 7 During this time you can sign up for health plans (Part C or D), or make changes to coverage you already have. You don’t need to sign up for Medicare health plans each year. However, each year you’ll have a chance to review your coverage and change plans. • You may join Medicare Parts C and D during this time: During this time: • Anyone with Medicare Parts A & B can switch to a Part C plan. • Anyone with Medicare Part C can switch back to Parts A & B. • Anyone who has or is signing up for Medicare Parts A or B can join, drop or switch a Part D prescription drug plan. • Anyone with Medicare Part C can switch to a new Part C plan. Medigap Open Enrollment – (also known as Medicare Supplement Insurance). It’s recommended that you buy a Medigap policy during your 6-month Medigap open enrollment period. This period automatically starts the month you’re 65 or older and enrolled in Medicare Part B. If you apply for Medigap coverage after your open enrollment period, there’s no guarantee that an insurance company will sell you a Medigap policy if you don’t meet the medical underwriting requirements, unless you’re eligible due to a special situation. If you have questions, please feel free to comment under the video! We love helping people! You can also reach us directly! http://www.DianaKnowsMedicare.com
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By watching this video you can learn about various ways to save money on your car insurance. please subscribe to our channel for more videos! https://www.youtube.com/letstalkmoneychannel Claim-Your request to an insurance company to cover an accident or other loss. Collision coverage-Pays for damage to your car caused by physical contact with another vehicle or an object, such as a tree, rock, guardrail, building, or person. Commission-The fee that an insurance company pays an agent or broker when they sell a policy. Comparative negligence-The percent of responsibility that each driver shares in an accident when both drivers are at fault. Comprehensive coverage-Pays for damage to your car caused by something other than a collision, such as fire, theft, vandalism, windstorm, flood, falling objects, etc. Declarations page-Usually the first page of an insurance policy. It lists the full legal name of your insurance company, the amount and types of coverage, the deductibles, and the vehicle(s) insured. Deductible-The amount of the loss that you must pay before your insurance company pays anything. Only comprehensive and collision coverage have deductibles. Endorsement/rider-A written statement that changes the coverage or details of an insurance policy. Exclusion-These are the specific things that your insurance policy does not cover or limits coverage for. For example, your policy may not cover certain kinds of dangers, people, property, or locations. Gap coverage-This pays the difference between the fair market value of your new car and the balance you owe on your loan or lease. Insured-The person who can receive covered benefits in case of an accident or loss. Also called the policyholder. Insurer-The company that issues your insurance. Liability coverage-Insurance that helps pay for the injuries and damage to others from accidents that are your fault. Limit-The most money that your insurance company will pay for your loss. Medical payments coverage-Covers limited medical costs for you or others in your car, when you are in an accident. Non-renewal-This is when you or your insurance company does not renew your policy at the end of its term. Policy-This is your contract with the insurance company. It explains your coverage. It also states the rights and duties of both you and the insurance company. Premium-The amount you pay to buy an insurance policy. Private passenger automobile-Four-wheeled motor vehicles for use on public highways, like cars, station wagons, SUVs, and vans. They must be registered with the state. Quotation (quote)-An estimate of your insurance premiums based on the information you give to the agent, broker, or insurance company. Recision-The cancellation of a policy back to its start date. If this happens, the insurance company does not pay for any of your losses, and your premiums are refunded. This can happen if you knowingly gave false information when you applied for the policy. Subrogation-When one insurance company pays money on a claim, and then tries to get paid back or reimbursed by another insurance company. Surcharge-An extra charge that is added to the premium by an insurance company. This usually happens because a covered driver has had an accident or moving violation that is their fault. Uninsured/Underinsured Motorist Coverage (UMC)-Provides coverage for a policyholder involved in a collision with a driver who does not have liability insurance or whose liability limits are too low to pay for all the damage.
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By watching this video, you can test yourself how much you know about money? Take this fun quiz to find out. please subscribe to our channel for more videos! https://www.youtube.com/letstalkmoneychannel
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case study - side by side comparison- http://letstalkmoneychannel.blogspot.com/2018/05/understand-how-your-dental-insurance.html . In this video, I will explain how to benefit from dental insurance and I will try to address such questions as: How does the dental insurance work? What is the best dental plan? What is the difference between dental PPO and HMO plan? What is a waiting period? How much does dental insurance Cost? Am I required by law to have dental insurance? Individual vs Group Dental- which one is better? What is covered by the dental insurance? What’s the difference between in-network and out-of-network care? please subscribe to our channel for more videos! https://www.youtube.com/letstalkmoneychannel
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please subscribe to our channel for more videos! https://www.youtube.com/letstalkmoneychannel By watching this video you will have answers to such questions as: What is a credit score? What affects my Credit Score? Does having too many credit cards affect a credit score? Do late payments affect a credit score? Does renting or leasing a home affect a credit score in any way? Do inquiries affect a credit score? How does my Credit Score affect my ability to get credit? What are score factors? How often do credit scores change? What is the credit score range? Is there just one credit score? What information goes into calculating a credit score? Who calculates credit scores?
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More information: http://www.sfcheapinsurance.com/life-insurance.html By watching this video you will be able to get answers to such questions as: What kind of life insurance is right for me? Do i need life insurance? what is term life insurance? what is cash value life insurance? What is universal life insurance? what is variable life insurance? how do i get life insurance? Can you take a loan from your insurance policy? How to get an insurance quote? How much is life insurance? What does it cover? Is insurance taxable? Where to find an insurance agent in California? please subscribe to our channel for more videos! https://www.youtube.com/letstalkmoneychannel
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Recently President Trump signed the tax reform bill into law. Today we will be looking at the new changes and compare it with current tax law. As mentioned in the disclaimer, I will not be providing legal or tax advice in this video. It is for informational purpose only. If you have a general question, please feel free to comment under the video, if you have a specific tax question, please contact your CPA or Tax Adviser. So Here is a summary of the key provisions in the new law, and let’s take a look at the changes one by one. please subscribe to our channel for more videos! https://www.youtube.com/letstalkmoneychannel
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please subscribe to our channel for more videos! https://www.youtube.com/letstalkmoneychannel Here is the link to the summary of benefits 2018 - http://www.sfcheapinsurance.com/blue-shield-of-california.html
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What's The Difference Between HMO and PPO Plans? Health Maintenance Organization (HMO) and a Preferred Provider Organization (PPO) HMO Versus PPO - Plan Comparison
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By watching this video you will have answers to such questions as: What is bitcoin? Ethereum, litecoin and other crypto currencies? what is blockchain? What is cloud mining? How to make money with bitcoin? How to trade? How to mine? What is mining? What is hasing power? How to get a digital wallet? And so much more! please subscribe to our channel for more videos! https://www.youtube.com/letstalkmoneychannel
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please subscribe to our channel for more videos! https://www.youtube.com/channel/UCUT2dLC-nsm36IzOkemXRbA Are you confused about Medicare Parts? Part A, B, C and D? Don’t panic. I’ll explain what all this alphabet means! There are four main “parts” of Medicare insurance: Part A, Part B, Part C, and Part D. Medicare Part A (hospital insurance) and Medicare Part B (medical insurance) together make up Original Medicare. Medicare Part C, also known as Medicare Advantage, and Medicare Part D (prescription drug coverage) programs that let you get Medicare plans through private insurance companies that contract with Medicare. Let’s look at each part individually. Medicare Part A typically pays for your inpatient hospital expenses, hospice services, home health care, and care in a skilled nursing facility. You don’t have to pay extra for Part A if you have worked and paid Social Security taxes for at least 40 calendar quarters ( or 10 years); Medicare Part B typically covers most medically necessary doctors’ services, preventive care, durable medical equipment, hospital outpatient services, lab tests, x-rays, mental health care, and some home health and ambulance services. You pay a monthly premium for this coverage. Medicare Part C (Medicare Advantage) are private health plans These policies, must cover at least the same benefits covered under Medicare Part A and Part B; however, your costs may be different, and you may have extra benefits, such as coverage for prescription drugs or extra days in the hospital. If you want, you can choose to get your Medicare coverage through a Medicare Advantage Plan instead of Original Medicare. Some plans also cover Part D as part of your Medicare Advantage benefits package. You may pay a monthly premium for this coverage, in addition to your Part B premium. Part D is the part of Medicare that provides outpatient prescription drug coverage. Part D is provided only through private insurance companies that have contracts with the government — it is never provided directly by the government (like Original Medicare is). If you want Part D, it is very important to select Part D coverage that works with your Medicare health benefits. If you have Original Medicare, choose a stand-alone Part D plan (PDP). It is very important to choose a plan that covers your medications. Every Medicare Prescription Drug Plan has a formulary that lists the drugs it covers. A plan’s formulary may change at any time, so make sure to check it periodically. I hope this information was helpful! If you have a question, feel free to comment under the video or contact us directly! We love helping people!
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here are some options for you to compare: https://producer.imglobal.com/international-insurance-plans.aspx?imgac=529216 https://www.insubuy.com/?affiliateid=polyakov http://www.sfcheapinsurance.com/travel-insurance.html please subscribe to our channel for more videos! https://www.youtube.com/letstalkmoneychannel quotes available for: Visitors Insurance Travel Outside of U.S.A Schengen Visa Insurance New Immigrants Visiting with Green Card Exchange Visitors (J1/J2) Expatriates Group Travel Insurance Marine Crew Missionary Travel Missionary Long Term Insurance Trip Interruption Hazardous Sports Insurance Medical Travel Insurance
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This video is about health insurance for next year 2018- what to expect. By watching this video, you should be able to answer some of your questions like: -what will happen to Obamacare in 2018? -is the penalty still in force for next year? - when should I enroll in health insurance or when is the open enrollment for 2018? -can I still receive the subsidies in 2018? - where and how do I get a subsidy? I created this video with the YouTube Video Editor (http://www.youtube.com/editor)
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Learn about college costs, planning options like: 529 Plans Coverdell Education Savings Accounts Qualifying U.S. Savings Bonds Roth IRA Traditional IRA (although, this is not intended for college funding) UGMA/UTMA The Uniform Gifts to Minors Act (UGMA) and Uniform Transfers to Minors Act Mutual Funds 529 ABLE Plan please subscribe to our channel for more videos! https://www.youtube.com/letstalkmoneychannel
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please subscribe to our channel for more videos! https://www.youtube.com/channel/UCUT2dLC-nsm36IzOkemXRbA An FSA plan is a type of benefit plan under Section 125 of the IRS code that allows you to set aside money on a pre-tax basis to pay for certain medical and/or dependent care expenses that you and your eligible dependents incur. The FSA plan allows you to pay for the balance(s) with pre-tax dollars. There are two types of FSAs • Health Care FSA - This FSA is for health care expenses not paid by insurance, including co-payments, exams, deductibles, vision care and dental expenses. • Dependent Care FSA - This FSA is for dependent care expenses you incur to care for your eligible dependents, including daycare, afterschool care or elder care.
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Are you looking for ways to get the most out of your doctor’s appointment? Here we will explain how you can maximize your benefits and get most of your medical concerns resolved in one visit.
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please like, share and subscribe to our channel! https://www.youtube.com/channel/UCUT2dLC-nsm36IzOkemXRbA What is a Deductible? The amount you pay for covered health care services before your insurance plan starts to pay. With a $2,000 deductible, for example, you pay the first $2,000 of covered services yourself. *Please note NOT ALL procedures are subject to the deductible, so check your summary of benefits. Many plans pay for certain services, like a checkup or disease management programs, before you've met your deductible. After you pay your deductible, you usually pay only a copayment or coinsurance for covered services. Your insurance company pays the rest. Some plans have separate deductibles for certain services, like prescription drugs. Family plans often have both an individual deductible, which applies to each person, and a family deductible, which applies to all family members Generally, plans with lower monthly premiums have higher deductibles. Plans with higher monthly premiums usually have lower deductibles.
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Please like, share and subscribe to our channel! https://www.youtube.com/channel/UCUT2dLC-nsm36IzOkemXRbA What is a Co-payment? A fixed amount (for example $20) you pay for a covered health care service after you've paid your deductible. Generally it s a fixed dollar amount. For example: Let's say your health insurance plan's allowable cost for a doctor's office visit is $100. Your copayment for a doctor visit is $20. If you've paid your deductible: You pay $20, usually at the time of the visit. If you haven't met your deductible: You pay $100, the full allowable amount for the visit. Copayments (sometimes called "copays") can vary for different services within the same plan, like drugs, lab tests, and visits to specialists. Generally, plans with lower monthly premiums have higher copayments. Plans with higher monthly premiums usually have lower copayments. Also, learn how deductibles and coinsurance affect your total costs of care
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By watching this video you can get an idea of what is covered by Kaiser health insurance plans in 2018, how the plan works, learn about HMO, copays, deductible, coinsurance etc. please subscribe to our channel for more videos! https://www.youtube.com/letstalkmoneychannel
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Please like, share and subscribe to our channel! https://www.youtube.com/channel/UCUT2dLC-nsm36IzOkemXRbA Got questions? visit http://www.SFCheapInsurance.com Co-insurance is the percentage of costs of a covered healthcare service you pay (for example 20%) after you've paid your deductible. Typically the coinsurance is a percentage. For example: Let's say your health insurance plan's allowed amount for an office visit is $100 and your coinsurance is 20%. If you've paid your deductible: You pay 20% of $100, or $20. The insurance company pays the rest. If you haven't met your deductible: You pay the full allowed amount, $100. Example of coinsurance with high medical costs Let's say the following amounts apply to your plan and you need a lot of treatment for a serious condition. Allowable costs are $12,000. Deductible: $3,000 Coinsurance: 20% Out-of-pocket maximum: $6,850 You'd pay all of the first $3,000 (your deductible). You'll pay 20% of the remaining $9,000, or $1,800 (your coinsurance). So your total out-of-pocket costs would be $4,800 — your $3,000 deductible plus your $1,800 coinsurance. If your total out-of-pocket costs reach $6,850, you'd pay only that amount, including your deductible and coinsurance. The insurance company would pay for all covered services for the rest of your plan year. Generally speaking, plans with low monthly premiums have higher coinsurance, and plans with higher monthly premiums have lower coinsurance.
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Members of Recognized Health Care Sharing Ministries are Exempt From the Requirement to Have Health Insurance and do not pay a penalty for health insurance. You can also apply outside of open enrollment and do not need a qualifying life event to apply. This is not insurance. Get detailed information on our website http://www.sfcheapinsurance.com/aliera.html The Affordable Care Act calls for individuals to have qualifying health insurance coverage for each month of the year, have an exemption, or make a shared responsibility payment when filing his or her federal income tax return. You may be exempt from the requirement to maintain qualifying health insurance coverage, called minimum essential coverage, and may not have to make a shared responsibility payment when you file your next federal income tax return. . You may be exempt if you: Have no affordable coverage options because the minimum amount you must pay for the annual premiums is more than eight percent of your household income, Have a gap in coverage for less than three consecutive months, or Qualify for an exemption for one of several other reasons, including having a hardship that prevents you from obtaining coverage or belonging to a group explicitly exempt from the requirement. please subscribe to our channel for more videos! https://www.youtube.com/letstalkmoneychannel
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please subscribe to our channel for more videos! https://www.youtube.com/letstalkmoneychannel Open enrollment is November 1, 2017 - December 15, 2017. Some states (like California ) extended the open enrollment through January 31, 2018 The penalty for not having health insurance is 2.5% - other options might apply - please watch the video to find out.
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Please like, share and Subscribe! If you’ve ever had a credit card, a loan, utilities in your name, or a cell phone with a monthly bill, you probably have a credit history. You have it because those companies share information about you. 3. Your credit history describes how you use money. It includes how you pay bills – do you pay on time or late? It includes how many credit cards and loans you have, and how much money you owe. All that information goes into your credit report, which is a summary of your credit history. 4. Your credit report will show your credit cards and loans, how much you owe, how you pay your bills. It also shows your name, address and Social Security number. It also has a section called “Inquiries,” which shows where you applied for credit. In a minute we’ll talk about how that works. 5. Did you know that businesses check your credit report whey you apply for a job? Since they’re making decisions about us based on what’s in our credit report, shouldn’t we make sure that the report is right – and that the information actually belongs to us? So, how do we know what’s in our report? 6. You can get your report each year, for free from all 3 credit reporting companies: Equifax, Experian and TransUnion.
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Do you have any of the following questions? Watch the video to find answers! Also, please like, share and subscribe: https://www.youtube.com/channel/UCUT2dLC-nsm36IzOkemXRbA
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If you love economics, finance, business you will appreciate this beautiful Valentine's Day video greeting! please subscribe to our channel for more videos! https://www.youtube.com/letstalkmoneychannel
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By watching this video, you can get answers to such questions as: What is form 1095-A? What is form 1095-B? What is form 1095-C? What is the difference between these forms? Why am I getting this form? What should I do with form 1095-A? What to do if I didn’t receive the form 1095-A? What if the information on form 1095-A is incorrect? How to update the incorrect information on form 1095-A? How to get this form? please subscribe to our channel for more videos! https://www.youtube.com/letstalkmoneychannel
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please subscribe to our channel for more videos! https://www.youtube.com/channel/UCUT2dLC-nsm36IzOkemXRbA Obviously if you don’t have health insurance and you get sick your expectation is that some type of bill will arrive to you shortly thereafter you received medical care. However, you can receive a medical bill even if you have insurance. See, insurance doesn’t cover everything. Nor it should, otherwise it would be very, very expensive. The idea of having health insurance is that you can transfer some of the risk to the insurance company while being responsible for some of the cost. Despite the complex billing codes that appear on medical bills, the process itself is relatively simple. Once a patient receives care, the hospital or medical provider generally charges the patient's insurance provider. Any remaining balance is the customer's responsibility, and is often called co-insurance. So, let’s look at his issue through an example: O.k. so you have health insurance. Let’s say your copayments, coinsurance, deductible are as follows: Doctor Visit- $30 copay Co-insurance- 20% Deductible - $2,000 Now, it is very important to understand these terms and know when and what you pay. For example the deductible might not apply to regular doctor visits; or the emergency room visit could end up being very expensive if you have to pay the deductible and so on. When you sign up for health insurance - you are entering into a contract with the insurance carrier. It is very important to know what your health insurance covers and what is your responsibility, in order to avoid paying excessively for you medical bills. It is worth to mention that medical bills sometimes contain errors. If you know your coverage you will be able to spot those errors easily. Also, it makes sense to request an itemized bill in case the invoice does not clearly states for what you are being charged. Besides, you want to make sure you actually got all the services you're being charged for. When it comes to medical costs, you have virtually no say in what hospitals and doctors will charge. It's not like going into a store where you can choose to buy shoes from Nordstrom, Amazon or from Wal-Mart. Hospitals and doctors charge whatever they want and rarely if ever explain what the costs are ahead of time. Especially if it's an emergency or necessary procedure. However, you definitely want to make sure your doctor/provider, clinic, lab etc. is in network before scheduling a visit (even if you have a PPO plan) Most health plans have a “network,” a group of doctors, hospitals and other healthcare providers who agree to take your insurer’s rate. Some plans may not cover any services you get from providers who are not in the network. • What to do when you receive the first bill. When you receive that first jaw-dropping, heart attack provoking bill from the hospital or doctor, you can do the following: • If you have insurance, immediately give the bill to your insurance company. • If you do not have insurance, immediately send a letter disputing the bill. • If you receive a notice to pay a large balance after your insurance has paid a small portion of the bill, send a letter disputing the bill as excessive and enclose a copy of the bill that they sent you. It is very important to act quickly. The reason this is so important is it stops the hospital, doctor and subsequent collection agencies who may buy the debt from claiming what is called an "account stated." An account stated means that you were provided with one or more bills and did not dispute them. It is one of those very rare times in law that silence is deemed to be consent. In other words if you do not dispute it, a court may automatically hold for the doctor or hospital based solely on the fact that you did not dispute it. In addition, consider Negotiating your medical bill with the hospital or provider. O.k. so you got that bill. You’ve verified that all the charges are legit. So now you have to pay it. Not so fast. You can still negotiate and ask for a discount. Hospital billing departments are often eager to collect something and get the charges off their books, rather than deal with a lengthy collection process. You may say ask to pay a part of the bill immediately, for example 40% of the bill and ask the provider to write off the rest. This is a great strategy. Even if your offer is rejected, the hospital may counter offer let’s say a 50/50 deal, which is still better than paying the bill in full. • What to do if the billing department won't negotiate your bill. If you can’t reach an agreement with the provider, consider hiring a professional. There are a few nonprofit organizations or professional patient’s advocates that can bargain for you. They typically charge a percentage of the reduction they negotiate. Here are some organizations that can help: - Medical Billing Advocates of America : 1 (855) 203-7058 - Patient Advocate Foundation - Phone: (800) 532-5274
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please subscribe to our channel for more videos! https://www.youtube.com/letstalkmoneychannel if you need help with health insurance in California, please feel free to reach us: http://www.InsuranceCenterHelpline.com (Lic. #0I21751)
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ACA exempt plans - apply anytime http://www.sfcheapinsurance.com/aliera.html please subscribe to our channel for more videos! https://www.youtube.com/letstalkmoneychannel
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please subscribe to our channel for more videos! https://www.youtube.com/letstalkmoneychannel web site: http://www.InsuranceCenterHelpline.com Diana Polyakov, Insurance Agent Lic. 0I21751 blog link- http://letstalkmoneychannel.blogspot.com/2017/11/2018.html
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O.k. so you buy health insurance. Then, you realize that your health plan is not accepted by all doctors. What to do?
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please like, share and subscribe to our channel! https://www.youtube.com/channel/UCUT2dLC-nsm36IzOkemXRbA There are many reasons to offer group health insurance. Employee Group Benefits 1. Attracting and retaining the most qualified employees - Offering health insurance benefits along with competitive salaries, profit sharing, bonus programs, pension plans, paid time off, and tuition reimbursement is a powerful tool to attract and retain the most “brilliant” employees. 2. Increasing Profits with more productive employees- By focusing on preventative care, the health insurance plans may improve the quality of life for employees and their families – and this is a return on investment to the business, to employees, and to our communities 3. Avoiding Health Care Reform assessments- Starting in 2015, employers with 50 or more full-time equivalent employees are required to offer affordable, minimum-value group health insurance. If they don’t, they may be assessed government penalties.. 4. Gaining Tax Advantages - Employers can deduct 100 percent of their employees' health insurance cost as a business expense. If the business is incorporated, the business owner’s own insurance costs are also deductible. 5. Receiving a Tax Credit - Small businesses with fewer than 25 employees may be able to receive a tax credit if they purchase small group health insurance for their employees and meet other criteria. 6. Passing along the lower health insurance costs to the employees - If you have 50 or more employees, you may find that our large group health insurance rates are lower than individual rates. Your employees may pay less and it makes a great addition to your business’s benefits package 7. Lessening financial worries for employees - With health insurance, employees feel more secure knowing they can pay medical expenses, especially in an emergency. That peace of mind can mean more focused and loyal employees. 8. Making employees feel valued. Employees will go the extra mile if they feel responsible for the results of their work, have a sense of worth in their jobs, believe their jobs make good use of their skills, and receive recognition for their contributions 9. Building higher morale – access to healthcare reduces employee absenteeism, and improves health and morale. Also it helps strengthen an organization’s culture and build employee pride, trust, and commitment. 10. Benefiting the entire society - The potential economic value to be gained in better health outcomes from uninterrupted coverage for all Americans is estimated to be between $65 and $130 billion each year.
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please subscribe to our channel for more videos! https://www.youtube.com/channel/UCUT2dLC-nsm36IzOkemXRbA Here is what you should know about Covered California participating Health Insurance Companies for the 2018 Plan Year : Covered California has tentatively selected 11 health insurance companies to be available for enrollment starting Nov. 1, 2017, for coverage that begins on Jan. 1, 2018. Here are the Health Insurance Companies Selected for 2018 1. Anthem Blue Cross of California - Anthem will be removing coverage from most areas except for Northern California, Santa Clara, and some parts of Central California. 2. Blue Shield of California - Blue Shield’s HMO is expanding into Solano, Contra Costa, Alameda, and Ventura counties. 3. Chinese Community Health Plan. 4. Health Net.. - Health Net is adding its PPO to Region 3 in Sacramento, Placer, Yolo, Los Angeles, San Diego and other parts of Southern California, while partially removing its HMO from a few regions 5. Kaiser Permanente 6. L.A. Care Health Plan. 7. Molina Healthcare. 8. Oscar Health Plan of California. Oscar, already in San Francisco, Santa Clara and San Mateo counties, will be expanding to Northeast Los Angeles. 9. Sharp Health Plan. 10. Valley Health Plan. 11. Western Health Advantage. These health insurance companies represent a mix of major insurers and smaller companies, regional and statewide doctor and hospital networks, and for-profit and nonprofit plans. With the changes of its current carriers, more than 95 percent of consumers will have at least two carriers to choose from and 82 percent of consumers will be able to choose from three or more carriers. Covered California also announced that quality providers such as Hill Physicians, UCSF Health and others are available in more plans for 2018
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The weighted average rate increase is 12.5 percent this year, and all 11 health insurers will continue to offer coverage Please subscribe for more videos like this: https://www.youtube.com/channel/UCUT2dLC-nsm36IzOkemXRbA
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Please like, comment and subscribe to our channel! You can get the Budget worksheet here: http://www.dianaknowsmedicare.com/family-budget.html http://lets-talk-money-channel.blogspot.com/2017/06/family-budget-what-is-it.html
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In this video I will discuss What is Medicare? What are various parts of Medicare? How much does it cost? What is covered and what is not covered by Medicare? And the difference between Medicare and Medicaid. please subscribe to our channel for more videos! https://www.youtube.com/letstalkmoneychannel
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please subscribe to our channel! Income taxes in the U.S. are calculated based on tax rates that range from 10% to 39.6%. Taxpayers can lower their tax burden and the amount of taxes they owe by claiming exemptions, deductions and credits. Below, we’ll take a closer look at the most important IRS tax rules to help you understand how your taxes are calculated. The marginal federal tax rate for this individual is 25% So, if you are making 100K a year, your take home pay check is $68,015. The good news is that you can maximize this amount! Keep watching until the end, I will give more information on how to minimize the tax burden. Information presented in the video is for information purpose only and it does not constitute legal or tax advice.
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