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The Jordan Insurance Agency Blog Page 7

View the latest blog posts from The Jordan Insurance Agency.

Title 18 of the new law, originally a separate bill called the Small Business Healthcare Relief Act, allows companies to use Health Reimbursement Arrangements to compensate employees who buy their own insurance.

Beginning on January 1st, a company with fewer than the equivalent of 50 full-time employees — that is, a business not subject to the Affordable Care Act’s employer mandate to offer insurance coverage to employees — can reimburse employees’ for purchasing individual health insurance as if it were directly paying the premiums on a group health policy: the employee won’t have to pay taxes on the company’s premium contribution, and the company won’t owe payroll taxes on it, either. The law sets some conditions for this new benefit: the company cannot offer a separate group health plan, and it must make the reimbursement available on the same terms to all employees, although it can vary the amount the reimbursement based on the employee’s age and family size, two main factors under the Affordable Care Act that insurers can use to determine the cost of plans. The law limits reimbursement to $4,950 for individual insurance, and $10,000 for a family plan, amounts that are indexed for inflation.

Posted 5:47 PM  View Comments


Medical Sharing Plans sometime called healthcare alternatives to Obamacare. Are plans designed to cover people who are like minded in beliefs and come together for the purposes of sharing in each other medical needs. As part of the law ACA also known as Obamacare any one can sign up for a medical sharing plan and avoid any penalty of ACA.  Plans will differ from one organization to another. That is why when you use The Jordan Insurance Agency to join one of these faith base plans you have someone guide you through all of the choices to make sure you are enrolled into the right plan with all of the options you need for healthcare.

These plans are not for everyone but for the vast majority of people who qualify, they can save you as much as 50% off what traditional health insurance cost today. For more information checkout our website at www.thejordaninsuranceagency.com.

Posted 5:20 PM  View Comments


When it comes to retirement strategies, annuities are among one of the most commonly utilized insurance product. Annuities are simple, and to a great extent, risk‐free way to ensure a steady stream of income generated from your investment. At The Jordan Insurance Agency, we help our clients find the most feasible and suitable annuities to support their post‐retirement income.

Understanding How Annuities Work

All you are required to do is make an investment in an annuity. Different insurance institutes offer a variety of annuity packages. We can help you find one that complements your future goals. Once you have invested, you can choose when the annuity will start making payments. Annuities offer the flexibility of choosing a future date or a series of dates. You also have the freedom to get your income in the form of monthly, annual, quarterly, or lump sum payment.

There are a variety of factors that determine the size of the payment. One of the major factors here is the type of annuity you choose.

Types of Annuities

As we mentioned, the type of annuities and related term may vary according to the product offered by your insurance company. Loosely categorizing, there are four types of annuities you should learn about.

  • Fixed Annuities – This is the most basic and risk‐free type of annuity that guarantees a payout in any case.
  • Variable Annuities – The payout of these annuities depend on the underlying performance of the investments you make.
  • Immediate Annuities – You can receive the payment of immediate annuities as soon as you make an investment.
  • Deferred Annuities – Deferred annuities make for long‐term investments and that is why considered a good retirement vehicle. Your money is invested for a fixed amount of time after which you can withdraw the payouts.

More about Annuities and Retirement

While you may have many investment options for your retirement, annuities defer you from paying taxes despite the large amount of money. Moreover, it has a clear advantage over other retirement plans including IRAs due to its flexibility. There is no annual contribution limit for an annuity.

Coupling your retirement saving and social security plans with fixed and deferred annuities is a smart financial decision. Working with the best insurance companies in Charlotte, The Jordan Insurance Agency can help you reap maximum benefits out of your investment.

Posted 2:13 PM  View Comments


Individual health insurance is a type of insurance coverage purchased by an individual for himself and/or his beneficiaries/family. The ACA or Affordable Care Act has caused significant changes in the way that these health insurance policies are rated, as well as the different benefits that they provide. The provisions of North Carolina health insurance policies are regulated and overseen by the state, as an individual policy is administered by the state where it is purchased.

The dramatic changes in the policies due to the ACA make the counsel of insurance advisors even more critical when selecting health insurance in North Carolina. Individual policies should be purchased with the advice of an insurance adviser or a professional insurance provider. Because of the complexity of coverage offerings as well as structures of premium costs, professional advice is critical when acquiring this type of insurance.

The Jordan Insurance Agency is an industry leader that has been working with all the major insurance companies, including health insurance and life plan providers in North Carolina and neighboring states for the past decade. We have an experienced team of insurance advisors willing to lend you their expertise and help you find the best coverage to match your needs as well as your budget.  Individual insurance is now a necessity, especially with the rising cost of healthcare. Work with us and we will give you your best options in North Carolina and beyond.

With individual health insurance, a person’s medical condition is no longer a factor for enrollment. However, you must enroll during the specified open enrollment period to acquire coverage for the year. Policies will cover all essential health benefits, although the richness of benefits under a specific plan is defined by a standard metal tier. Platinum plans are the most expensive, but also the most generous and are designed to cover as much as 90% of your medical expenses. Gold health insurance plans pay for 80% of medical expenses while silver and bronze plans pay for 70% and 60% of medical expenses, respectively.

One category of an individual plan is known as the catastrophic plan. In North Carolina, as with other states, a catastrophic plan meets the requirements of each metal tier, but its benefits are often very limited. This type of plan is often offered as an option for people under the age of 30 or those who have received a hardship exemption due to unaffordable health coverage.

Health Insurance plans will often offer the same set of essential health benefits, although some items and other benefits may also be added, depending on the type of plan that you acquire as well as the additional offerings by your policy provider. These essential benefits will often include ambulatory patient services, emergency services, maternity and newborn care, hospitalization, mental health and substance abuse disorder services, laboratory services, prescription drugs, pediatric services, preventive and wellness services, and rehabilitative and habilitative services and devices.

Posted 12:42 AM  View Comments


As you approach retirement and age 65, the reality of Medicare becomes imminent, leading to uncharted waters in health insurance coverage. Medicare Parts A and B, or hospital and medical insurance respectively, are extremely valuable upon termination of employer-sponsored coverage, but that doesn’t mean life after enrollment will be smooth sailing. While many expenses, like hospital visits and physician examinations, are covered, others are not, leaving gaps that can lead to steep out of pocket expenses.

Medicare supplement policies, also called Medigap policies, are designed to eliminate the missing links in your health insurance, providing coverage for many of the vital services standard Medicare does not cover, including:

  • Part A coinsurance costs up to an additional 365 days after benefits are exhausted
  • Part A hospice care coinsurance
  • Part B coinsurance or copayment
  • The first three pints of blood each year
  • Skilled nursing home care coinsurance
  • Part A and B deductibles
  • Foreign travel insurance
  • Vision coverage, dental care, and hearing aids

Medicare Supplement Policies

In the United States, Medigap policies come in 10 standardized plan forms, lettered from A through N. Each plan covers a different combination of options, allowing you to pick and choose based on your unique health concerns and future plans.

Medicare Supplement Plans
Plan Benefits A B C D F G K L M N
Part A coinsurance and hospital costs Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes
Part B coinsurance or copayment Yes Yes Yes Yes Yes Yes 50% 75% Yes Yes
Blood (first 3 pints) Yes Yes Yes Yes Yes Yes 50% 75% Yes Yes
Part A hospice care coinsurance or copayment Yes Yes Yes Yes Yes Yes 50% 75% Yes Yes
Nursing facility care coinsurance No No Yes Yes Yes Yes 50% 75% Yes Yes
Part A deductible No Yes Yes Yes Yes Yes 50% 75% 50% Yes
Part B deductible No No Yes No Yes No No No No No
Part B excess charge No No No No Yes Yes No No No No
Foreign travel exchange No No 80% 80% 80% 80% No No 80% 80%
Out-of-pocket limit $4960 $2480

Finding the Right Fit

The right Medigap policy can make a substantial difference in ensuring a healthy future. When you are seeking an affordable way to mitigate the costs associated with Medicare coverage, The Jordan Insurance Agency is here to support you from start to finish. Offering comprehensive, customized advice based on your unique needs, our agents can help you determine the perfect fit for you.

Get a free quote online or contact us at 704-926-7565 to explore how our team can help!

Posted 12:42 AM  View Comments


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