Although the American population is aging rapidly, Long-Term Care (LTC) insurance is held by only about 1 in 30 Americans and approximately 7% of adults over the age of 50. Studies show that someone turning 65 today has almost a 70% chance of needing some type of long-term care service. Women need care longer (3.7 years) than men (2.2 years). Currently, five states are actively considering legislation to address the high cost of long-term care, potentially through a long-term care state payroll tax, with two of the most populous states, California and New York, among them. Many older Ame ..read more

International Women’s Day was recently observed on March 8th. Women make up the 51% of the entire United States population and 56% of the US labor force. Despite their significant representation in government, women still face challenges about the wage gap; hence their life insurance is being set aside. Contrary to popular belief, life insurance doesn’t need to be costly or complex. There are various options available, including term life, whole life, and universal life, each with its own set of advantages and disadvantages. For instance, a healthy 30-year-old woman can secure a $1 million, 3 ..read more

The Federal Poverty Level ( FPL) is a benchmark to assess individuals’ and families’ income levels relative to the federal poverty threshold. In California, health insurance premiums frequently adapt positively based on income in relation to the FPL. Individuals or families with incomes below a certain percentage of the FPL may qualify for subsidies, which can significantly reduce their health insurance premiums. Conversely, those with incomes above the threshold may face higher premium costs. The FPL chart gets an annual update. These limits come from the latest Federal Poverty Level (FPL) fi ..read more

Starting February 1, 2024, the Annual Open Enrollment Period ends and the Special Enrollment Period begins. During the Special Enrollment Period from February 1st to October 31st, 2024, anyone seeking to enroll in or change their existing health insurance must have had a so-called “qualifying life event” within the last 60 days. Below are some of the most common qualifying life events that must occur before you are eligible to apply for new health insurance. Most common qualifying life events (QLE): Recently moved Lost employer-sponsored coverage Released from Medi-Cal (California’s Medicaid ..read more

Optum and St. Joseph Providence Health will terminate their health maintenance organization (HMO) agreements with Anthem Blue Cross effective January 1, 2024. As a result, Optum and Providence Health will no longer be part of the Anthem Blue Cross Commercial Pathway HMO Exchange Network starting January 1, 2024. This only affects Anthem’s Individual market. Members who are currently enrolled with the Optum and Providence Health medical groups listed below will be transferred to participating medical groups. You should’ve received notifications from Anthem about these changes. The following me ..read more

The Annual Open Enrollment Period (AEP), which runs between ?️October 15 and December 7, 2023, for renewals in 2024, is in full swing. CMS requires all agents to record any phone calls. Therefore, after you fill out the required Scope of Appointment (SOA), please call me at my new dedicated phone line (for Medicare clients) at 310-331-0804. For 2024, Medicare Part B (Hospital) monthly payment will increase from the current ?$164.90 to $174.70. If you are a high-income earner, please click here to see the IRMAA 2024 cost. The annual deductible for Part B will ..read more

Every year, small businesses have a special window to start a small group health insurance policy with small group health insurance carriers with relaxed underwriting. This period is known as a Special Enrollment Period and starts on November 15th through December 15th. During this period, small businesses can sign up for small group health insurance coverage with no minimum employee participation rate (usually 65-70% employee participation required) and no minimum employer contribution to the health plans (usually $100 or 50%). During this one-month period, small businesses can seamlessly pro ..read more

Open enrollment for the Individual health insurance market for 2024 starts November 1st, and it’s time to start thinking about your healthcare coverage for the upcoming year. Policyholders have the opportunity to review their 2024 health insurance options. This is a crucial time for you to review your coverage due to the statewide premium increase of 9.6%. The increase was attributed not only to the persistent surge in healthcare utilization post-pandemic, but also to higher pharmacy expenses and inflationary impacts within the healthcare sector, such as escalating costs of care, labor shortag ..read more

The 15 percent increase in the individual health insurance premium by Blue Shield causes many Californian families to worry about how they can find affordable health insurance in 2024 for their families. The healthcare landscape in the United States is complex, with numerous factors influencing insurance premiums. Similar to other insurers, Blue Shield of California encounters challenges. These include escalating medical expenses, advancements in medical technology, and higher wages in the medical sector. and the growing prevalence of chronic conditions. These factors collectively contribute t ..read more

?️The Renewal Season for 2024 just started! Prepare for a shift as Oscar Health exits the California insurance market in 2024. Navigate the transition with confidence—discover your health insurance choices and essential steps for you and your family in the upcoming year. Step 1 ?: Are you eligible for subsidies over Covered California ? Please review your adjusted gross income (AGI) on your tax return for 2022 (line item 11) and project your income for 2024. If you earn foreign income, tax-exempt income, or non-taxable social security, you need to add this income to your adjusted gross income ..read more