Below is the link to the most recent interviews from the Daily Show with Jon Stewart. He has had some interesting discussions on Health Care in the past.
We have Michigan health insurance company selections with the health insurance coverage requested most often for the individual and family. Affordable health insurancedoes not have to be cheap health insurance!
We also have A special student health insurance plan plus a special plan that allows the student to stay on the parents plan as long as he or she is a student.
Also select from the top rated health savings account plans (also known as a hsa plan), the low cost health insurance alternative to the traditional copay insurance plan. HSA plans or health savings account plans are not just cheap health insurance, they are a very effective way to insure against the catastrophic loss.
They were enacted into law and put into effect starting the first of January, 2004. These plans replace the MSA plans that were only for the self employed or group. The legislation was part of the recent Medicare Bill that added prescription benefits to medicare..
This plan allows anyone that is not eligible for medicare to have a hsa plan. The advantage of such a plan is that it allows one to put money into as special savings account on a pretax basis as long as you have a qualified high deductible health insurance plan. If you have such a plan then you are allowed to fund it (again, with pretax dollars) with an amount equal to the deductible you have chosen on an annual basis (limited to $3000 for an individual and $5950 for a family ).
This savings account can be used to pay your deductible or other qualified medical expenses such as office calls, prescriptions, dental, eye care and glasses just to name a few. This is not a use it or lose it plan like a "flex plan" offered by larger employers! The money stays in the plan until you use it. If you take it out for non medical reasons you will pay the tax on what you take out plus a 10% penalty.
So, the bottom line is that you save money by buying a high deductible health plan and pay for the medical bills with money that has never been taxed, (this includes federal and state tax, social security, medicare tax and self employment tax if you are self employed)
To get an idea of the significance of the savings for you, add these taxes up and I think you will be surprised at what it can save you. Another big plus is that you decide what to pay for and what is important to you. You make more of the decisions, not an insurance company!
I think as a general rule of thumb, when the government offers you a tax break you should take it or at least run it by your accountant. However, don't be surprised if your accountant is not up on this latest development.. From personal experience I have found that unless you press the issue they will shrug it off. If your accountant is not willing to find out the details then find another accountant. You can also have them call me and I will direct them to the detailed information that they need.
We are located in Rochester Michigan and we service accounts mainly in the Detroit Metro area which includes Wayne, Macomb, Washtenaw, St. Clair, Oakland and Lapeer counties. We provide not only affordable health insurance but 15 years of Michigan health insurance experience.
Group Health Insurance affordable Michigan health insurance plan selections for group health insurance needs of all sizes.
Short Term Health Insurance travel health insurance and international health insurance to satisfy all of your temporary health insurance needs.
For more control, use below links to run your quotes.
The "Instant Quote" button above will run most of the quotes from the companies listed below all at once, but the links below give you more flexibility in reviewing your options
The above links allow the customer to do a self quote. In addition to prices, you will find detailed coverage information and brochures. You can apply for coverage through these links also. There is no cost for my assistance! If you need help at any time just give me a call:
(248) 650 3535
Summary of the Healthcare Reform Act
The Healthcare Reform Act of 2010 affects three areas.These three fields are Health Insurance, Medicare and Taxes.Below is a synopsis and time-line of these events.
Health Insurance
* Effective June 2010: A new program called a "high risk pool" provides affordable health insurance for uninsured who have a pre-existing conditions
* Effective September 2010: New health insurance plans are required to provide certain preventive services with no co-pay or deductible.
* Effective the first chart year after Sept. 2010: Health insurance providers will not be able to cancel except for incidents of fraud.Health insurers are not be able to position lifetime dollar limits on benefits and annual dollar limits shall be eliminated.Children up to age 26 will be allowed to remain on parent's health plan.Health coverage shall no longer be able to turn down or limit the coverage for a child with pre-existing conditions.
* Year 2011: Individuals shall be able to buy into a national voluntary insurance program for long-term in-home nursing care.
* Year 2013: Those trying to buy health insurance shall have the choice of purchasing it from newly created State based nonprofit health co-ops.
* Year 2014: Health companies shall not be able to deny or limit the coverage, or deny renewal, to anyone based on medical conditions.Also, they will not be able to increase rates due to health status or gender.U.S. citizenry and legal residents shall have to purchase insurance or be charged a by the federal government.Those with an income from 133% to 400% of the federal poverty level ( the FPL in 2010 for households of 4 is $22,050) shall receive a tax break or government subsidy to assistance them in paying for their health plan.Individuals that have no employer coverage, and small businesses shall be able to purchase coverage through State based health exchanges, thus offering potentially lower costs.Insures shall no longer be able to establish an annual dollar limit on the benefits of an individual.Business with more than 50 employees shall have to offer coverage or receive a fine from the government.
* Year 2016: Health carriers will be able to sell their plans in multiple States that participate in special compacts, supplying more possibilities for individuals in those states.
* Year 2018: All health plans shall be required to provide certain preventive services with no co-pays or deductibles.
Medicare Time-Line
* Year 2010: Medicare insured beneficiaries shall get a $250 rebate from the government to assist in closing the prescription gap, also know as the "donut hole".The "donut hole" is to be phased out by 2020.
* Year 2011: Medicare recipients that are in their coverage gap, shall receive a 50% discount on brand-name drugs.Health benefits will be enhanced to provide beneficiaries a free wellness visit, a prevention plan and preventive health services.
Taxes
* July 2010: A new tax of 10% shall be assessed for indoor beating services.
* Year 2010: Businesses with less than 25 employees may get a tax incentives to assistance them in providing health insurance.
* Year 2011: Tax-free money in a Healthcare Reimbursement Arrangement (HRA) or Flexible Spending Accounts (FSA) shall no longer be used for over-the-counter drugs unless they are prescribed by a doctor.
* Year 2013: Medical expenses shall be deductible on federal returns only after they exceed 10% of adjusted gross income (currently 7.5%).Those over age 65 can deduct expenses over 7.5% through 2016.For individuals that earn over $200,000 and couples that earn over $250,000 a year, Medicare payroll taxes increase by approx 1%.They shall also pay a new tax of 3.8% on unearned income, such as dividends and interest income.Contributions to a flexible account shall be limited to a maximum of $2500 per year (this is to be adjusted each year for inflation).
* Year 2018: A new tax will be assessed on so called "Cadillac" employer-sponsored insurance plans that exceed $10,200 for an individual and $27,500 for households.
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