It doesn't hurt to speak with a broker if you have any questions or specific healthcare needs. But enrolling in a Marketplace plan really is pretty straightforward. Glad the video was helpful!
Thank you for the video; it was very helpful!! Can you please make a video about setting up paying the health insurance cost from your LLC? Or if you already made one, I’d appreciate the link.
I'm glad you found it helpful! That's a good suggestion for another video. I'll try to put that together soon. But the short answer is, you can just bill your insurance to your business credit card or bank account. I'll read up a bit more on this, but I didn't think it makes a huge difference tax-wise where you pay your premiums from. You claim the deduction on your personal income tax return either way. But putting it on your business books keeps things a little tidier.
Very helpful video on how to select a government healthcare plan. The Pennsylvania healthcare website is very easy to follow with your guidance. New York State website not as clear on the UI! I will try to use your navigation on the NYS website to make my selection. Very helpful, very clear instruction from you! Thank you very much. I have shared your link on Reddit due to recent conversations regarding confusion on how to pick a state healthcare plan!
Really enjoyed this video! Just one clarifying question...does the tax credit make your actual monthly payment $244 instead of $700+ OR do you just receive a tax refund for that in your tax return every year? Wondering about this for cash flow purposes.
Great question. I pay a discounted premium each month. But I believe you have the option to pay the full amount and take a big ol' refund when you file your tax return. Glad you enjoyed the video!
great information, thank you. I have 2 questions if I may. Question 1: how far in advance do you need to start this process in order to have it accepted and in place by a certain date (life event where I'll age out of my current plan)? Q 2: Do you apply to more than one plan at a time (in case one doesn't accept you) or do you have to decide ahead of time on only one to apply to?
Great questions! I actually put together a video to unpack the answer a bit more than I'd be able to do here in the comments: ruclips.net/video/vhUbTsFtnW8/видео.html
It says I have possible eligibility for Medicaid. But says I have 15 days to enroll in a plan but all the plans are 200$+ a month?… How do I get Medicaid??
Each state has their own requirements and application process. I'd recommend Googling "apply for Medicaid in [your state]" to get pointed in the right direction.
@@SelfEmploymentSidekick I had Medicaid last year but it expired December of 2022. Not sure how to renew it. It’s important because I just got prescribed something and since I don’t have insurance it costed me 110$ for a 30 day supply which is obviously not ideal :(
Ugh. Sorry to hear that. I think the renewal process is the same or similar as the initial application process (hopefully a bit easier if they already have most of your information on file). In the meantime, check out GoodRX or SingleCare for discounts on prescription medicine.
Medicaid or state insurance is a low rate while you are alive, but the second you die the state comes after your house and everything you own. There is a secret bill you will never see while alive, I talked to a person with the state medicaid they looked up what my bill is he came back with a figure of $26,000. for 2 years of insurance and only seeing a doctor 3 times total fraud and they will not let me see the charges.
Thanks! And good timing. I'll be doing a live Q&A tomorrow (12/11) at noon EST about health insurance (and maybe some other stuff), So if you have any questions, come hang out!
In short, Marketplace plans are eligible for premium tax credits that could bring the cost down depending on your income and family size. Also, all Marketplace plans must be ACA-compliant (the main perk here is they cannot deny you coverage or charge you more if you have a pre-existing condition). Many health insurance companies privately offer plans that are identical to what you'd find on the Marketplace. But they may also offer more affordable options - they'd wouldn't cover as much, but if you're relatively healthy and don't have a pre-existing health condition, it might be a good fit. A health insurance broker/advisor would be able to help you evaluate the best options for your situation.
My concern is, i make about 56,000 a year. I pay over 1k a month in insurance. Im healthy. My kids are healthy. Can i just cancel my insurance through my job and choose a plan through the market place?
You can get Marketplace insurance even if you have access to insurance through your employer. However, you probably won't be eligible for premium tax credits unless your employer-provided insurance doesn't meet the standards of being "affordable." I'm not sure how they calculate this. But $1,000 a month in insurance premiums doesn't sound very affordable to me... So maybe you're in luck. Here is an article I found with a little more information: www.healthcare.gov/have-job-based-coverage/ You might also want to consider getting your kids on CHIP. Then, whether you get insurance through the marketplace or through your employer, you would just need coverage for you (or you + your spouse) and drop your premium a bit.
@SelfEmploymentSidekick we decided to take the jump. We were approved. From face value, everything appears to be the same, if not better. My maximum out of pocket is 7k lower and 50 dollar co pay. I had no other choice. Financially I was drowning. Had about 150 every couple weeks for groceries and gas and other essentials. Going with healtcare.gov, I am saving 700 dollars a month. It just feels too good to be true. I'm so used to being abused by the system.
@@SelfEmploymentSidekickfrom what I was able to understand. We are eligible for the tax credit for a family of 5. The limit is 400% over the poverty level in texas. I'm well under that.
Look like Texas have the insurance more expensive in the world. I check for my daughter she only 11 years and the take out the health CARE because the said im not qualified for Chip or Medicaid for Chip , and the funniest part the dont considerated we paid rent , food , light and other necessities important. So basically everything comes worst.
Ugh. Sorry to hear that! Do you know why you aren't qualified for CHIP? Earlier this year, when my family was applying to renew our coverage, they disapproved us as well. But it was because some documentation I needed to provide got lost in the mail. Thankfully they were able to get that sorted out. Maybe it's a paperwork snafu that can get fixed?
@@SelfEmploymentSidekick I send them twice the papers but the don't received on time , and i SEND a second time and when i CALL the told me the received all the papers , but after THAT the SEND me a paper said i don't have bills for doctors , i said how come not ? I send them prove i have bills for doctors , i'm not ABLE to applied after 90 days. Let SEE what happens.
😔 Yeah, the application process for any government program is going to be SUPER frustrating. Fortunately, it sounds like it's just a matter of getting the paperwork figured out. Most likely you are qualified for CHIP, but they need to figure out how much financial assistance you are eligible for, and if your past medical expenses are able to be covered. Stick with it! It's a headache to apply, but it's a very valuable program.
Its worse here, our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
Thank you for the explanation, using your personal scenario and if you were a single person. Very clear, concise video.
So glad you found the video helpful!
Thank you for explaining health insurance so simple. I have been trying to understand this for years.
You're welcome! Glad the video was helpful 🙂
I’m about to be 26 and I’m panicking 😵💫 thank you for this video
You're welcome!
appreciate this easy to understand video on a complicated subject
Thanks! Glad you found the video helpful!
Hey man, thanks for a no BS talk.
You're welcome. Thanks for watching!
Thanks I did not know that I could do it without a broker. Going to apply November 1 .
It doesn't hurt to speak with a broker if you have any questions or specific healthcare needs. But enrolling in a Marketplace plan really is pretty straightforward. Glad the video was helpful!
Thank you for the video; it was very helpful!! Can you please make a video about setting up paying the health insurance cost from your LLC? Or if you already made one, I’d appreciate the link.
I'm glad you found it helpful! That's a good suggestion for another video. I'll try to put that together soon. But the short answer is, you can just bill your insurance to your business credit card or bank account.
I'll read up a bit more on this, but I didn't think it makes a huge difference tax-wise where you pay your premiums from. You claim the deduction on your personal income tax return either way. But putting it on your business books keeps things a little tidier.
Very helpful video on how to select a government healthcare plan. The Pennsylvania healthcare website is very easy to follow with your guidance. New York State website not as clear on the UI! I will try to use your navigation on the NYS website to make my selection. Very helpful, very clear instruction from you! Thank you very much. I have shared your link on Reddit due to recent conversations regarding confusion on how to pick a state healthcare plan!
I'm so glad the video is helpful! Thank you so much for sharing it! 😀
Really enjoyed this video! Just one clarifying question...does the tax credit make your actual monthly payment $244 instead of $700+ OR do you just receive a tax refund for that in your tax return every year? Wondering about this for cash flow purposes.
Great question. I pay a discounted premium each month. But I believe you have the option to pay the full amount and take a big ol' refund when you file your tax return.
Glad you enjoyed the video!
@@SelfEmploymentSidekick that’s perfect! Thanks for the reply man!
Happy to help!
great information, thank you. I have 2 questions if I may. Question 1: how far in advance do you need to start this process in order to have it accepted and in place by a certain date (life event where I'll age out of my current plan)? Q 2: Do you apply to more than one plan at a time (in case one doesn't accept you) or do you have to decide ahead of time on only one to apply to?
Great questions! I actually put together a video to unpack the answer a bit more than I'd be able to do here in the comments: ruclips.net/video/vhUbTsFtnW8/видео.html
It says I have possible eligibility for Medicaid. But says I have 15 days to enroll in a plan but all the plans are 200$+ a month?…
How do I get Medicaid??
Each state has their own requirements and application process. I'd recommend Googling "apply for Medicaid in [your state]" to get pointed in the right direction.
@@SelfEmploymentSidekick I had Medicaid last year but it expired December of 2022. Not sure how to renew it. It’s important because I just got prescribed something and since I don’t have insurance it costed me 110$ for a 30 day supply which is obviously not ideal :(
Ugh. Sorry to hear that. I think the renewal process is the same or similar as the initial application process (hopefully a bit easier if they already have most of your information on file). In the meantime, check out GoodRX or SingleCare for discounts on prescription medicine.
Medicaid or state insurance is a low rate while you are alive, but the second you die the state comes after your house and everything you own. There is a secret bill you will never see while alive, I talked to a person with the state medicaid they looked up what my bill is he came back with a figure of $26,000. for 2 years of insurance and only seeing a doctor 3 times total fraud and they will not let me see the charges.
thanks for the breakdown ..you did a great job explaining it in lames terms and i enjoyed the memes also
Thanks! And good timing. I'll be doing a live Q&A tomorrow (12/11) at noon EST about health insurance (and maybe some other stuff), So if you have any questions, come hang out!
Great value in return for my view, like, & comment.. this video explained to me what I was looking for!
Thanks! I'm glad the video was helpful! I appreciate the algorithm boosts 🙂
What is the difference if you don’t go to government marketplace, vs just going to a specific broker that represents a trusted name and insurance
In short, Marketplace plans are eligible for premium tax credits that could bring the cost down depending on your income and family size. Also, all Marketplace plans must be ACA-compliant (the main perk here is they cannot deny you coverage or charge you more if you have a pre-existing condition).
Many health insurance companies privately offer plans that are identical to what you'd find on the Marketplace. But they may also offer more affordable options - they'd wouldn't cover as much, but if you're relatively healthy and don't have a pre-existing health condition, it might be a good fit. A health insurance broker/advisor would be able to help you evaluate the best options for your situation.
Very good information here.
Thanks Tony!
I can't get any of these, because they're evil. So, how do I opt out?
How do I keep taxes from going to these things?
I'm from my the health insurance, it very different in common wealth
My concern is, i make about 56,000 a year. I pay over 1k a month in insurance. Im healthy. My kids are healthy. Can i just cancel my insurance through my job and choose a plan through the market place?
You can get Marketplace insurance even if you have access to insurance through your employer. However, you probably won't be eligible for premium tax credits unless your employer-provided insurance doesn't meet the standards of being "affordable." I'm not sure how they calculate this. But $1,000 a month in insurance premiums doesn't sound very affordable to me... So maybe you're in luck. Here is an article I found with a little more information: www.healthcare.gov/have-job-based-coverage/
You might also want to consider getting your kids on CHIP. Then, whether you get insurance through the marketplace or through your employer, you would just need coverage for you (or you + your spouse) and drop your premium a bit.
@SelfEmploymentSidekick we decided to take the jump. We were approved. From face value, everything appears to be the same, if not better. My maximum out of pocket is 7k lower and 50 dollar co pay. I had no other choice. Financially I was drowning. Had about 150 every couple weeks for groceries and gas and other essentials. Going with healtcare.gov, I am saving 700 dollars a month. It just feels too good to be true. I'm so used to being abused by the system.
@@SelfEmploymentSidekickfrom what I was able to understand. We are eligible for the tax credit for a family of 5. The limit is 400% over the poverty level in texas. I'm well under that.
What webpage do I go to if I live in minnesota?
It looks like Minnesota's marketplace is www.mnsure.org/
Absolutely great video. Super helpful so thanks for taking the time.
Glad it was helpful!
That was greatly Explained, Thanks a lot. 🙏🏼
Thanks! I'm glad you enjoyed the video and found it helpful.
@ 9:20 thays wrong. EPO Is basically PPO with restriction. Not HMO
Gah! You're right. Thanks for the catch. I'll add a note to the description.
Look like Texas have the insurance more expensive in the world. I check for my daughter she only 11 years and the take out the health CARE because the said im not qualified for Chip or Medicaid for Chip , and the funniest part the dont considerated we paid rent , food , light and other necessities important. So basically everything comes worst.
Ugh. Sorry to hear that! Do you know why you aren't qualified for CHIP? Earlier this year, when my family was applying to renew our coverage, they disapproved us as well. But it was because some documentation I needed to provide got lost in the mail. Thankfully they were able to get that sorted out. Maybe it's a paperwork snafu that can get fixed?
@@SelfEmploymentSidekick I send them twice the papers but the don't received on time , and i SEND a second time and when i CALL the told me the received all the papers , but after THAT the SEND me a paper said i don't have bills for doctors , i said how come not ? I send them prove i have bills for doctors , i'm not ABLE to applied after 90 days. Let SEE what happens.
😔 Yeah, the application process for any government program is going to be SUPER frustrating. Fortunately, it sounds like it's just a matter of getting the paperwork figured out. Most likely you are qualified for CHIP, but they need to figure out how much financial assistance you are eligible for, and if your past medical expenses are able to be covered. Stick with it! It's a headache to apply, but it's a very valuable program.
Its worse here, our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
Unless your income changed,
I'd rather die, because they refuse me treatment, than die trying to pay high ass insurance bullshit
¯\_(ツ)_/¯