Frost & Remer Discusses Health Insurance for Self-employed: Becoming Eligible for Subsidies
Frost & Remer, a Flat Rock based company, discloses how the Affordable Health Care Act will affect health insurance for self-employed individuals.
Flat Rock based company Frost & Remer discloses how the ObamaCare will affect health insurance for self-employed individuals.
ObamaCare is not made to establish free health care for Flat Rock freelancers, as well as the other independent workers all over the nation, discusses Frost & Remer (http://insurancebyfrost.com). However, thanks to the subsidies created along with the act, millions of Americans may find themselves eligible to get coverage through various health exchanges without even paying for it. This is good news for the people who qualify.
The new law will allow federal subsidies for workers who are earning 138-400% of the federal poverty guidelines. This creates a saving opportunity for those coming in individual marketplaces. Those who are making $45,000 individually or $94,000 for a family of four may get this aid; studies show that 19 million Americans can acquire subsidies in their insurance payments for 2014. This provides greater chances of acquiring good coverage beneficial to one’s health, as seen in the YouTube video https://www.youtube.com/watch?v=NnDXlgbkaFg.
Determining one’s eligibility for these subsidies can be as easy as looking at the portion of an individual’s income slated to pay for insurance. This may also include the cost of purchasing premiums on a health care exchange in a particular area. Overall, one’s entire income, including retirement and pension withdrawals, will count as a basis of determining whether one qualifies for subsidies. The Modified Adjusted Gross Income (MAGI), which is the total of one’s adjusted gross income as well as tax exempted interests will be looked upon.
However, it must be noted that zero-premiums do not equate to a no cost, fully paid health insurance for self-employed. Individuals are still responsible for the co-payments of delivered services. Those who manage to qualify will be given a tax credit amount determined by an online application. Other benefits, such as Medicaid and Veteran’s Benefits, are also available for the self-employed.
About Frost, Remer, and Mercure Financial Services, Inc.: Established In 1989 as an independent insurance agency serving the states Michigan, Ohio, Colorado, Georgia, Illinois, Minnesota, New York, Pennsylvania and Wisconsin with their primary focus on Southeast Michigan and Northern Ohio.
Their mission is to provide reliable insurance advice, quality service and honest claims advocacy at affordable pricing for individual, business and farm owners insurance needs by placing their clients’ insurance policies with insurance company partners that are well respected within the industry and are financially sound.
For more information about how they can help provide the right financial protection for you, visit http://www.InsuranceByFrost.com.
Frost and Remer Insurance
Jeff Frost, AAI
Tel: (734) 794-3072
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