2014 Processes, Premiums, Quirks, Tips, Etc.

[AllenChicago]

If the life insurance is funded with after tax money (most of them), it is not taxable income.

If income drops below 400% FPL, and they were off exchange initially, an SEP is created for those that are "newly eligible" for a subsidy. This will be a majority of our business in the off season

YAgents, Thanks for that info on the SEP! In that case I won't hesitate to write off-exchange. Whew!..I can see why so many agents are confused by ObamaCare. The public will be even more overwhelmed once they start learning about the myriad of enrollment and plan options. Maybe we can leverage that to make insurance companies increase our compensation, since we need to know more, and have more patience than ever. IMO, 8% is insultingly low for helping the public tackle this ACA monster.
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VIDEO DEMONSTRATION: THE MARKETPLACE APPLICATION PROCESS.

The below link takes you to a CMS page with training videos. The video entitled "Marketplace Application and Enrollment" demonstrates the enrollment of a family of 3. The parents work at Walmart, have no health insurance and no itemized deductions, which are two of the reasons why they're able to complete the subsidy application and enroll in a health plan in record time...just 15 minutes!

Link: http://marketplace.cms.gov/getofficialresources/multimedia/multimedia.html

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