Colorado Division Of Insurance Announces Significant Changes To The Individual Market

[LocalGrowGuy]

so long obamacare' ......

You have no idea what you are talking about. Keep posting those talking points. Do you have any thoughtful input to add?

Dump your obama stock, if you followed me over the yrs, i explained and showed you guys how to exploit obamacare theft to make the money you lost on insurance payments. I killed it... get catepillar n j deer,, construction stock should be 30 - 40% of your portfolio,, HSA health savings acct stocks are killing it! 50% of portfolio.

Trump almost got this mess fixed before he stepped in the door, saved us from communism and we will soon get the pay raise weve been waiting for decades.
HSA stocks are paying upto 40%. Catepillar paying 10%.

And we dont have to listen to obama racism anymore which got trump elected

Would you mind explaining what an HSA stock is? I've been in this industry for a long time and there is no such thing. A health savings account is just that, a savings account. You might be referring to the ability of a policyholder being able to invest those dollars, but there is no set of specific investments that you have to sign up for. There are no 'HSA stocks'. That term doesn't exist in this industry, and if it does, it goes by a different name. If you are referring to being able to invest in companies that are in the healthcare/health insurance sector, that's completely different than an HSA. You might be referring to an insurance carrier or reinsurer or something like that, but that's a single company, and again, there is no such thing as an HSA stock, let alone plural.

It's unhelpful to post in this thread unless you are at least somewhat familiar with the industry and how the elections and other current events are affecting insurance policyholders. Spreading misinformation due to ignorance doesn't help anyone. You guys can shit on each other and be partisan elsewhere. The issue has nothing to do with R's and D's, and it doesn't benefit the discussion. That you both use trump, obama, etc just show that you are keeping this a partisan issue when there is much more at stake. Take your meme's and make another thread if y'all are unable or unwilling to discuss insurance. I don't make the rules and you guys have the keys so do what you will, but stop hiding and take a stand, if you are able. If you can shit on people who disagree with you, then you should be able to back it up with something other than a picture of hillary or obama or trump.

Or keep posting meme's because it's easy.

 

[Freshone]

 

[rmoltis]

Effective January of 2017. Time to make sure your health insurance is in order to avoid paying the penalty of $695 or 2% of income, whichever is higher.

Just fyi that fine was there last year too. I got hit with it the past 2 years...

Turns out having insurance coverage for 10 out of 12 months each year doesn't count. It has to be 11/12 lol.

So I'll get hit with it every year. I'll never sign up for Obamacare lol. Rather pay the fine.


I hate being forced to pay for other people's Healthcare when I very rarely use it.

 

[lino]

@LocalGrowGuy
This one scares me so I go with a small amt in banks portfolio, i dont usually do this but I know to invest in trumps homies next,
Royal Bank of Canada (RY): 2,500 (+10% from current levels)
Deutsche Bank (DB): 2,350 (+3.5%)
Citigroup (C): 2,325 (+2%)
Bank of America (BAC): 2,300 (+1%)
Goldman Sachs (GS): 2,300 (+1%) - watch this one,,,,

hard to distinguish between Obama stock shit stock and Health care stocks Trump stocks, especially HSA stock.
Obama Bro's - the BIG Pharm companies own him and hillary... sell it!
Representative Tom Price told the Senate Committee on Health, Education, Labor and Pensions , basically HC, Price owns a variety of healthcare stocks, including biotech firm Amgen Inc, pharma companies Bristol-Myers Squibb Co, Eli Lilly & Co and drug distributor McKesson Corp. He has said he will divest health and other stocks that could be affected by his position as health secretary. More at the bottom,
Dump you Obama Stock!

INvest in Construction Stock;
John Deer - Deer been hitting it
Caterpillar - Solid 10%
and more

HSA $$$ - investments
Before you invest in HSA stock , exploit HSA's profits like a true Trumpster. The immediate benefit of HSAs is that you can deduct your contributions on your tax return. As long as you have an HDHP, then you can contribute up to $3,400 in 2017 to an HSA for single coverage. The family coverage HSA contribution limit is $6,750 in 2017.
However, HSAs also have longer-term benefits. Like an IRA for retirement, HSAs allow you to earn income on a tax-deferred basis. Moreover, as long as you use HSA money for qualifying medical expenses, then withdrawals are tax free. This unique combination of tax-deductible contributions and tax-free withdrawals makes HSA a better investment than an IRA.
HSA stocks and bond investors
Like an IRA, eligible investments in an HSA include stocks, bonds, mutual funds, savings accounts, and other investments depending upon the options allowed by the stock broker or if you're direct investing with an HSA administrator with whom you choose to work with for tax and insurance purposes. In addition, stock brokers can direct you in a set up of a Trump Heath stock portfolio and for direct investments each HSA administrator typically provides a range of different account services including special checking accounts, debit cards, and electronic bill payment. SO WATCH THE MUTUAL FUNDs and the BANKs who cover these investments, There are lots of ways to make CRAZY money on TRUMPs HSAs.... its had highs of 35% return. Like finding different ways to watch and invest in Vanguard - Although Vanguard doesn't offer its own health savings account, several banks, credit unions, insurance companies, and IRS-approved entities offer a brokerage option with an opportunity to invest in Vanguard funds. These are generally t;he best places to look for an HSA custodian also.

Thats how I invest in HSA's and That how exploit my own HSA .

YOUR COMMENT;
""Would you mind explaining what an HSA stock is? I've been in this industry for a long time and there is no such thing.""
MY REPLY;
anymore questions?

 

[LocalGrowGuy]

Just fyi that fine was there last year too. I got hit with it the past 2 years...

Turns out having insurance coverage for 10 out of 12 months each year doesn't count. It has to be 11/12 lol.

So I'll get hit with it every year. I'll never sign up for Obamacare lol. Rather pay the fine.


I hate being forced to pay for other people's Healthcare when I very rarely use it.

Your fine is prorated, so your penalty would only be for that one month. If you paid more then you need a new accountant.

 

[LocalGrowGuy]

double post methinks

 

[LocalGrowGuy]

@LocalGrowGuy
This one scares me so I go with a small amt in banks portfolio, i dont usually do this but I know to invest in trumps homies next,
Royal Bank of Canada (RY): 2,500 (+10% from current levels)
Deutsche Bank (DB): 2,350 (+3.5%)
Citigroup (C): 2,325 (+2%)
Bank of America (BAC): 2,300 (+1%)
Goldman Sachs (GS): 2,300 (+1%) - watch this one,,,,

hard to distinguish between Obama stock shit stock and Health care stocks Trump stocks, especially HSA stock.
Obama Bro's - the BIG Pharm companies own him and hillary... sell it!
Representative Tom Price told the Senate Committee on Health, Education, Labor and Pensions , basically HC, Price owns a variety of healthcare stocks, including biotech firm Amgen Inc, pharma companies Bristol-Myers Squibb Co, Eli Lilly & Co and drug distributor McKesson Corp. He has said he will divest health and other stocks that could be affected by his position as health secretary. More at the bottom,
Dump you Obama Stock!

INvest in Construction Stock;
John Deer - Deer been hitting it
Caterpillar - Solid 10%
and more

HSA $$$ - investments
Before you invest in HSA stock , exploit HSA's profits like a true Trumpster. The immediate benefit of HSAs is that you can deduct your contributions on your tax return. As long as you have an [HSA-eligible qualified] HDHP, then you can contribute up to $3,400 in 2017 to an HSA for single coverage. The family coverage HSA contribution limit is $6,750 in 2017.
However, HSAs also have longer-term benefits. Like an IRA for retirement, HSAs allow you to earn income on a tax-deferred basis. Moreover, as long as you use HSA money for qualifying medical expenses, then withdrawals are tax free. This unique combination of tax-deductible contributions and tax-free withdrawals makes HSA a better investment than an IRA.
HSA stocks and bond investors
Like an IRA, eligible investments in an HSA include stocks, bonds, mutual funds, savings accounts, and other investments depending upon the options allowed by the stock broker or if you're direct investing with an HSA administrator with whom you choose to work with for tax and insurance purposes. In addition, stock brokers can direct you in a set up of a Trump Heath stock portfolio and for direct investments each HSA administrator typically provides a range of different account services including special checking accounts, debit cards, and electronic bill payment. SO WATCH THE MUTUAL FUNDs and the BANKs who cover these investments, There are lots of ways to make CRAZY money on TRUMPs HSAs.... its had highs of 35% return. Like finding different ways to watch and invest in Vanguard - Although Vanguard doesn't offer its own health savings account, several banks, credit unions, insurance companies, and IRS-approved entities offer a brokerage option with an opportunity to invest in Vanguard funds. These are generally t;he best places to look for an HSA custodian also.

Thats how I invest in HSA's and That how exploit my own HSA .

YOUR COMMENT;
""Would you mind explaining what an HSA stock is? I've been in this industry for a long time and there is no such thing.""
MY REPLY;
anymore questions?

Again, there are no such things as HSA stocks or investing in an HSA. Investing in a health saving account is investing in a saving account earning less than one percent interest. Using HSA funds as an investment vehicle is what I think you are talking about, but from an industry perspective there are no HSA stocks unless you are talking about banks that have eligible savings accounts. It's not accurate that any high deductible health plan enables the use of a health saving account, it has to be HSA eligible.

This is more semantic than anything but investing HSA funds into mutual funds or other investments would bring a higher return than a savings account by itself. I wish more people would invest in their healthcare on a pretax basis instead of after or use those funds to invest for better returns.

 

[rmoltis]

Just fyi that fine was there last year too. I got hit with it the past 2 years...

Your fine is prorated, so your penalty would only be for that one month. If you paid more then you need a new accountant.

Let's just say %2.5 of my income divided by 12 months then times 2 months is close to equal what I got fined.

 

[LocalGrowGuy]

Let's just say %2.5 of my income divided by 12 months then times 2 months is close to equal what I got fined.

You need a new accountant.

3 important facts about health coverage exemptions [healthcare.gov]

• Exemptions are available based on a number of circumstances, including certain hardships, some life events, health coverage or financial status, and membership in some groups.
• You claim some health coverage exemptions on your federal tax return. Others you apply for with a paper application.
• You don’t have to pay the fee for any month you have qualifying health coverage. If you’re uncovered only 1 or 2 months, you don’t have to pay the fee for any month.

 

[rmoltis]

Sounds like those cover this year not the last 2...

Musta been 3 months then. Having 2 health plans the majority of the year didn't count lmao.

They have a chart sent with your tax return showing your coverage months total. No way to dispute that with the accountant. They just type in the months and it spits out the fine. Not sure how they could mess it up.

 

[rmoltis]

This year is the same. Worked all year. A full year of work was looking great. I was aiming for that $60k this year.

But my hernia popped up in Sept.
Lost my insurance coverage later from not being able to work or claim unemployment.

Insurance fell off the next month. I'll have 3 months of no coverage again and the fine this year along with the $20k hit I took missing work after having surgery...

It's all just a big circus designed to lose your care as soon as your injured and can't pay to keep it going. Then the followup medical costs get higher and higher while your waiting to get back to work to get your insurance back.

You say use public healthcare for coverage? I make way too much for that they won't help. And I lose even more once they drop my plan. And have to make followup doctor visits.

It's a system that is poorly designed.
It's meant to fail as soon as you have to lean on it. That's my experience with Obamacare anyways. I've never supported it and I'll be happy when it's gone.

All my premiums, co-pays, deductables all went up more than double. And my plan costs 1200/month paid by the union by my hours worked each month.

That's approx $14,400 a year for Healthcare which is ridiculous.

I use healthcare so little that 14k a year would have been better utilized in my pocket to cover expenses as needed. Not pay for other people's Healthcare when I use it %1 of the time.

I may as well burn dollar bills

I think of all the years of Healthcare I got automatically from my benefit package.
I'd be looking (let's guess the small side $10k/year avg) at over $100,000 paid into a plan I've drawn only $15k in benefits out of the last 10 years. That extra $75k I could have really used

Now tack on the extra fee each year on top from when I lose benefits in winter.

 

[LocalGrowGuy]

This year is the same. Worked all year. A full year of work was looking great. I was aiming for that $60k this year.

But my hernia popped up in Sept.
Lost my insurance coverage later from not being able to work or claim unemployment.

Insurance fell off the next month. I'll have 3 months of no coverage again and the fine this year along with the $20k hit I took missing work after having surgery...

It's all just a big circus designed to lose your care as soon as your injured and can't pay to keep it going. Then the followup medical costs get higher and higher while your waiting to get back to work to get your insurance back.

You say use public healthcare for coverage? I make way too much for that they won't help. And I lose even more once they drop my plan. And have to make followup doctor visits.

It's a system that is poorly designed.
It's meant to fail as soon as you have to lean on it. That's my experience with Obamacare anyways. I've never supported it and I'll be happy when it's gone.

All my premiums, co-pays, deductables all went up more than double. And my plan costs 1200/month paid by the union by my hours worked each month.

That's approx $14,400 a year for Healthcare which is ridiculous.

I use healthcare so little that 14k a year would have been better utilized in my pocket to cover expenses as needed. Not pay for other people's Healthcare when I use it %1 of the time.

I may as well burn dollar bills

I think of all the years of Healthcare I got automatically from my benefit package.
I'd be looking (let's guess the small side $10k/year avg) at over $100,000 paid into a plan I've drawn only $15k in benefits out of the last 10 years. That extra $75k I could have really used

Now tack on the extra fee each year on top from when I lose benefits in winter.

I can't 'like' your post because I don't like the situation you're in, but I am thankful for your followup. I genuinely hope that things work out. Union bennies can be the bee's knee's, but they don't work with brokers, and I don't wish to comment on unions whatsoever. Disability coverage is prohibitively expensive for most folks just like long term care and many other options. There is nothing affordable at all in our healthcare delivery system, it is completely broken, and I think it's foolish to think it can be resolved via legislation, executive order or anything else. We've spent so many years breaking the system, putting up barriers, avoiding transparency, it's not that simple to flip a switch, sign a piece of paper, and magically change 1/5th of our economy.

I'm not going to disagree that this is nothing more than a circus, and our health insurance 'system' began as an employer sponsored program that was never very good at transparency. When you had that $250 copay for an MRI it didn't matter where you went, but in the metro area you can pay cash up front and get an MRI for about $500 [citation needed]. Different providers charge different rates, and if you (typical consumer) only shop by your preference, the carrier reimbursement is not going to be on your list of criteria, because there is no transparency. Even though you pay the copay, the contracted rate between your insurance carrier and your provider may be much higher, meaning your insurance company will pay more out of pocket in this example. If there were complete transparency as it relates to cost, you would be more likely to shop by cost, which benefits both you and the insurance company. Very few people know the cost of their healthcare like nuclear imaging or other treatments that have substantial cost differences, and it has been designed that way. This isn't an endorsement of insurance companies and it isn't an endorsement of charging high fees to recoup costs from those who can't pay.

The most unfortunate part of my industry is that I can't disagree with you making a decision to not carry insurance, for the very reasons you stated. The cost of the penalty is paltry compared to the cost of a year's worth of premiums, and the leftover is more than enough for most individuals in most situations. However, not having insurance comes at a price, and for me, the potential for a large claim is too high for me to risk my financial future filing bankruptcy because I can't pay a million dollar cancer claim or a $50,000 ER bill. My circumstances are unique and different than yours, please don't take this as any sort of analysis of your decision making.

Being a young healthy male, I too share your frustration at the high premiums that I pay each month, and although things like pediatric dental, bariatric surgery, gender reassignment surgery, maternity and infertility are covered, I am paying for benefits that I don't use. Like yourself, looking back it would be nice to have invested those funds.

That being said, the closest solution I have to recommend to you personally based on this one single post and one tiny bit of information (I'm saying there is a .0001% that this solution is one that would fit you and your own situation exactly) is to look into high deductible health plans and using those pre-taxed funds as an additional investment vehicle to offset your premiums. What you are allowed to do and what you can do financially are two very, very different things. For example, you aren't allowed to use HSA funds to pay your insurance premiums, only medically related costs, but since nobody has audited these accounts 'medically related' is a pretty fluid term. Deposits are limited so if you have high utilization then there won't be much left at the end of the year, but at least you are funding your healthcare on a pre-tax basis.

Even a short term or temporary plan wouldn't be of much use, since most of those lost cost plans don't cover pre-existing conditions, are not ACA compliant, would still have you paying the penalty, and wouldn't have helped you in your situation. Short of winning the lottery what you went through seemed unavoidable. Difficult circumstances, and any other additional coverage's that might have helped on the back end would have been wiped out with their high premiums. Aflac and similar plans are also prohibitively expensive to purchase, further burdening your options.

What lino posted above is generally good advice, which is using your tax-advantaged deposits to invest in higher returns via other means, most commonly mutual funds. HSA's are also commonly referred to as medical IRA's, because there is no use-it-or-lose-it provision, and those unused funds grow over time. Ten years of fully funding your HSA with minimal use would bring substantial funds to the table as you age. We have many clients who use HSA's as another form of sheltering income from taxation. But, HSA's and how they are accounted for, used, etc, are more likely financial in nature, and that's not my bag baby. There are many users here who are financial experts like @xavier7995 who can speak more to lino's post of how and where to invest. I just know what dave ramsay says, that debt is dumb. I'm not an investment guy.

 

[xavier7995]

Your HSA should be used to pay for medical, not as some sort of savings device. There are a number of ways to wrap your investments up to get better tax treatment...that isn't one. It's akin to thinking those prepaid debit cards are amazing financial tools. You certainly can do it, but given the desire to gut the regulations on both markets and healthcare, I think it leaves you wide open to lots of issues. Just like you shouldn't load up a retirement plan with derivatives, use the stuff the way it was meant to be used.

I have actually known a number of professional finance folks that do it and it hasn't bitten them, but it's still a dumb idea.

Frigging lol at the delay of the DOL fiduciary rule. Hurry up and sell those nutritional supplement stocks to the elderly, they might die before you can bilk them outta their retirements.

Edit: market chat...that's like my bat signal.

 

[LocalGrowGuy]

Your HSA should be used to pay for medical, not as some sort of savings device. There are a number of ways to wrap your investments up to get better tax treatment...that isn't one. It's akin to thinking those prepaid debit cards are amazing financial tools. You certainly can do it, but given the desire to gut the regulations on both markets and healthcare, I think it leaves you wide open to lots of issues. Just like you shouldn't load up a retirement plan with derivatives, use the stuff the way it was meant to be used.

I have actually known a number of professional finance folks that do it and it hasn't bitten them, but it's still a dumb idea.

Frigging lol at the delay of the DOL fiduciary rule. Hurry up and sell those nutritional supplement stocks to the elderly, they might die before you can bilk them outta their retirements.

Edit: market chat...that's like my bat signal.

You mean your bat wing?

3. "The Bat Wing"
This is where you take the excess skin of your genitals and stretch them out until it is flat like paper. Now you should be able to see some veins and the slight resemblance to a bat wing. For that, you get 3 kicks.

 

[GrowGod]

Wtf

 

[lino]

I TOLD YOU GUYS ! ! ! ! ! ! ! ! Historic Day, I think we'll do it. 18 minutes away from close..
DOW is UP 144 points, hell ya! Trump just announced the construction of the WALL and ripped TPP trade agreement.
TRUMP STOCK - we about to break 20000 today! we're only 1/2 way there folks. Invest like I told you guys. Holy Shit,,, stocks about to close, I'm STUNNED..... Fuck ObamaCare Stock, Trumps shit is killing it! CATepillar, HSA stocks returned 42% wtf, that shit gonna split!
I told you to dump that Obama Pharm stock, its hanging on but trade it for construction stock like CAT and hit the HSA stock, put a little in safe HSA bonds, the stocks are doing exactly what I told you guys would happen...

Trump is undoing Obama damage , especially ObamaCare damage and ppl are investing now.

 

[EventHorizan]

You need a new accountant.

3 important facts about health coverage exemptions [healthcare.gov]

• Exemptions are available based on a number of circumstances, including certain hardships, some life events, health coverage or financial status, and membership in some groups.
• You claim some health coverage exemptions on your federal tax return. Others you apply for with a paper application.
• You don’t have to pay the fee for any month you have qualifying health coverage. If you’re uncovered only 1 or 2 months, you don’t have to pay the fee for any month.

How much you get paid to suck money out of people? That they can pay someone to manipulate ppl is the saddest part... And you must be quite the con man to have survived the industry for as long as you claim. .. Insurance sales man... wtf is that... barf....

 

[EventHorizan]

Here is your break down of Obama care .... nobody wants it except ppl that don't pay for it... and I imagine the elderly..
See if they didn't have to pay you cronies and you million dollar insurance office buildings we probably wouldn't have to worry about paying for insurance. But you might have to get a job beside me then.. I move steel son, not paper work and lies. ..
Pissed me off reading this. I'm sorry to the rest of the thread and members..
Fucking insurance salesman arguing the merits of how he gets paid. Fucking snowflake...
I'm gone off your thread. .. You can save your response. ...

 

[GrowGod]

My coverage is f

Here is your break down of Obama care .... nobody wants it except ppl that don't pay for it... and I imagine the elderly..
See if they didn't have to pay you cronies and you million dollar insurance office buildings we probably wouldn't have to worry about paying for insurance. But you might have to get a job beside me then.. I move steel son, not paper work and lies. ..
Pissed me off reading this. I'm sorry to the rest of the thread and members..
Fucking insurance salesman arguing the merits of how he gets paid. Fucking snowflake...
I'm gone off your thread. .. You can save your response. ...

My insurance is free since I don't pay taxes;)
Before I paid out of pocket For health care. But when Obama care told me I have to have insurance or he will fine me I took the free card. Lgg would be real mad if he knew how much $ I made last year.:cool:

 

[EventHorizan]

Here is your break down of Obama care .... nobody wants it except ppl that don't pay for it... and I imagine the elderly..
See if they didn't have to pay you cronies and you million dollar insurance office buildings we probably wouldn't have to worry about paying for insurance. But you might have to get a job beside me then.. I move steel son, not paper work and lies. ..
Pissed me off reading this. I'm sorry to the rest of the thread and members..
Fucking insurance salesman arguing the merits of how he gets paid. Fucking snowflake...
I'm gone off your thread. .. You can save your response. ...

After a few seconds thought... I probably shouldn't of said this... I just hate salesman.... Kinda not my style. Probably should smoke before posting after work....

Puff puff pass...