What You Need To Know

Why use an Independent agent, like us, vs a captive agency? Suppose you like Chevy, but you can only shop Chevy your whole life and then one day a store opens that offers all the other companies like Ford, Lexus, Acura, etc. When you walk in, your choices are numerous name brands vs just 1.  As an Independent Broker we have all the companies that are not captive in 1 place, so you get many options with 1 stop.

We are the leading FREE Enrollment center in your backyard.

Open Enrollment for Individual Health Insurance this year will bring a lot of exciting changes for everyone. Almost 85% of the clients we help will qualify for subsidies and extra help which dramatically lowers the cost for health insurance. We have successfully helped numerous clients again this year regain their coverage after they get termination notices, but we can only help IF we are listed as an agent on your application. Call us for this FREE valuable service.

I will break this Open Enrollment down into 2 groups (< 65 (Nov 1-Dec15) and Medicare >65 (Oct 15-Dec7)).

For the <65 crowd in 2020, there will be new competition that promises to shake up the pricing and plans.  Many people this year should consider HSA plans. There are fantastic benefits to having an HSA plan.

  • Health Insurance can cost less
  • Savings help to pay your deductible
  • Tax-deductible deposits
  • Tax-deferred growth
  • Tax-free for medical care
  1. Contributions to the HSA are 100% deductible (up to the legal limit) — just like an IRA. The contribution levels for 2010 are $3,550 individuals and $7,100 family. The catch-up contribution limit for those >55 is $1000.00 more.
  2. Withdrawals to pay qualified medical expenses, including dental and vision, are never taxed. The tax benefits are so good that some financial planners say to max out your HSA before contributing to an IRA. Here’s why: … You don’t pay any taxes upon withdrawal as long as you use the money to pay qualified medical expenses or qualified health insurance premiums if you‘re over the age of 65. It can even be used to pay for Long term care Insurance tax free.
  3. Interest earnings accumulate tax-deferred, and if used to pay qualified medical expenses, are tax-free.
  4. Unlike a flexible spending account (FSA), unused money in your HSA isn’t forfeited at the end of the year; it continues to grow tax-deferred and Employers can now contribute to your HSA account.

For the >65 Seniors there are new options that will benefit many people. Benefits will be increasing, and costs will be decreasing on many plans. The worst thing that seniors can do is to do nothing. The best plan last year may be the worst plan next year for you. We have all the options available and will make sure our clients get the best plans at the lowest cost available for them. Seniors should start booking appointments now, and creating their drug lists now, so they can pick the best drug plan for them for next year.

Important information regarding your Medicare Supplement plan C and F.

Starting Jan 1 2020 these plans will no longer be available. If you have it already, you can stay on it. Prices of the C and F plans can rise by 300% or more over the next few years. This is the perfect time to come into Insurance Shops to review ALL your options and get the best plan for you moving forward.