The Best and Most Affordable Health Insurance in America 2020 #feisworld #openenrollment #ACA

Hey guys this is feyhu from face world media i'm excited about this video not because i'm a doctor or an insurance agent but this question always comes up so much right around now holiday season in america which is hey faye you are a creative entrepreneur talk to me about.

How you're able to find really good health insurance for yourself that's what we're talking about today so if you're new to my channel welcome this is fei wu from faze world media in this video i want to talk to you guys about also known as the marketplace health insurance in america.

The open enrollment which is the period where you can enroll yourself your family into these marketplace health insurance is november 1st now we're already a few weeks in and we're facing the holiday but the good news for a lot of people is we're not traveling a whole lot this.

Year so you might find pockets of time where you're able to study and look into this and it's not too late the deadline is going to be december 15th so if i were you i highly recommend and urge that you look into this now i've been on this particular insurance since i started my entrepreneurial journey as.

Of january 2016 and i absolutely love it it wasn't because the journey was straightforward or trivial i wish i could find someone who could have this conversation with me to talk to me knowing that i'm not an expert in health insurance.

Or in medicine to help me understand what my options are now this video is especially helpful if you just experienced a life event so whether you moved or i'm sorry there's a death in the family but there's significant changes.

In the insurance itself you switch jobs you decided to uh start your own company so as i'm recording this um this is the end of 2020. now everything you learn in this video is still going to be relevant for the next few years at least i hope so because.

I'm able to rely on this knowledge for the past four years working full-time as a creative entrepreneur before i get started i want to thank today's video sponsor restream who helped me tremendously as a creative entrepreneur and really helped put my voice out there everywhere on multiple platforms including this video i'm so excited to.

Be able to share this with so many people and definitely check out a restream and a special offer right from faze world now back to today's topic one thing you really want to learn and know about it's called fpl fpl stands for federal poverty line or level i don't know which it is as it.

Turned out you don't have to be making zero dollars for under let's say 10 000 a year in order to qualify for government assistance programs or in other words marketplace health insurance having this knowledge at hand could be really helpful and guess what this whole thing could be self-serviced.

This means that you don't have to talk to a world expert or spend thousands of dollars working with someone all this information is ready and available at your fingertips start with so i'm going to use my personal example i live in massachusetts and i know that we have really good.

Health insurance here and i'm sorry if you live in a place where you find this information a little bit more difficult to navigate but do start at and you will see so much resources and information that you didn't know was available.

So first of all a lot of people say what about cobra if you leave your job if you lost your job all of a sudden then your employer is responsible to provide you with cobra now that means it will continue the health insurance you had before whether it's for yourself or.

For a family of eight people doesn't matter but the downside of cobra is that it's very very expensive so if you're watching this video and you've been talked to about cobra you probably know exactly what i mean now i think this is extremely important if you're watching this and there's only.

One person who's working and you're raising kids and the family you'll feel a lot of pressure because health insurance in general is not cheap if you're starting a new gig you have to start searching for looking for really good health insurance for yourself or your loved ones so definitely check it out.

I want to demystify the idea of an fpl federal poverty line now what it means for you as an entrepreneur if you're just by yourself your single person i'm going to give you the data from massachusetts as of 2019 which is at 300 to 400 fpl you will still qualify for marketplace.

Insurance if you make forty nine thousand nine hundred and sixty dollars in massachusetts in your net income okay the net income part is really important too but first of all forty nine thousand dollars that's a lot more money probably than.

What you thought would be and you still qualify for a credit now if you're making or you think you're going to make a lot less money let's say 25 to 35 000 that means you'll pay even less or get more government support for your health insurance i also must talk about net income what.

Does that mean if you're a credo entrepreneur and say first year you made sixty thousand dollars all out of new clients that you've acquired that's pretty good right but now out of that sixty thousand dollars now you have twenty thousand dollars or more for expenses.

For software for renovating your office for adjusting you know painting or creating new spaces in your homes that cost a lot of money now what happened is you will use that forty thousand dollars which is sixty thousand dollars in your revenue.

Minus twenty thousand dollars in your expenses forty thousand dollars is your net income i hope that makes sense so now that forty thousand dollars is going to be an estimation or what you will use to qualify for or marketplace health insurance and.

Please don't overlook expenses i remember when i was starting my company for face world there are a ton of expenses that go into what you need as a business so those are automatically deducted from your revenue.

So things such as taking clients out to meals i know it hasn't happened all that often during the pandemic as well as travel i used to travel so much for my business i don't do so much of that anymore so you know plane tickets meals and things like that are all deductible to a certain degree.

If you're an accountant or if you want to be more educated on that topic you can look it up but the idea is all about net income which makes so many people qualify for these marketplace health insurance now you may be thinking i'm not just by myself i have a spouse i have a child what does that come up to be for a.

Family of three let's just say mom dad and kid you can have up to eighty five thousand dollars three hundred and twenty dollars for 400 fpl and still qualify for marketplace health insurance now at that level you might not get a whole lot of support compared to a family of three let's say making forty.

Thousand dollars you'll get more help meaning you're spending less for health insurance the open enrollment which is the period where you can enroll yourself your family into these marketplace health insurance is november 1st now we're already a few weeks in.

And we're facing the holiday but the good news for a lot of people is we're not traveling a whole lot this year so you might find pockets of time where you're able to study and look into this and it's not too late the deadline is going to be december 15th so if i were you i highly recommend and urge that you look into this because.

I've spoken with so many family friends and colleagues who are like oh i'm just gonna stick with cobra or i'm just gonna hire someone or i don't think i'm able to look into this this is not really a feasible option well you can start an application you don't.

Have to finish it even though i hope you will because then you will find out what you qualify for and because of how important this issue is well is now offering a lot of online and offline resources and help there are 1-800 numbers that you can call and to get educated on.

There also what's called walk-in centers which were really helpful before i've never done it i do everything exclusively online so i hope you guys find this video helpful this is an unusual video i understand and i cannot wait to bring more zoom live streaming and creative entrepreneurs.

Type of videos right to your ears to your eyes and i want to thank you so much guys for supporting my channel i've recently gained 10 000 subscribers and making youtube a pretty solid part-time gig for me i had no idea that i could work on youtube.

As a significant revenue source and income and in addition to all the other retainer clients i've had all along and all these years so thank you so much so much love to all of you and please take care of yourself and pay attention to the deadline as of.

December 15th oh one more thing i need to mention what if you're watching this video right now and it's past december 15th please don't panic double check with your state for example in massachusetts our deadline is actually in january so which means you have an extra time.

Beyond january 1st to still enroll in a health insurance here's another good news there are a lot of live events happening right now especially during the pandemic life events such as um that you found out that you're pregnant or all of a sudden you lost jobs or you've had a death in the family.

Or whatever reason may be that all of a sudden you've lost your health insurance that's called a life event now that will make you still qualify to enroll in health insurance outside of the open enrollment that's something you definitely want to look into you can google it as well.

So good luck guys um i love this community so much if you have any requests any questions please list below and please try to help one another no matter where you're from um that is just so important i'm a firm believer that sometimes we have to advocate for ourselves.

Our own situation we cannot wait for other people or other resources to kind of you know spoon feed all the information to us be powerful first by becoming more resourceful and i'll see you in the next video if you have not subscribed please do um because it means so much to me and i.

Hope to help you and continue this conversation in the near future bye for now you

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