2023 ACA - Important Legislative Updates in Review

The American Rescue Plan, passed in 2021, expanded subsidies to provide more Americans with affordable health care through the Affordable Care Act. The expansion was set to expire on 12/31/2022.

The passage of the Inflation Reduction Act in August 2022, extends these subsides until 2025, protecting affordable health care for millions of Americans. It also extends the American Rescue Plan provision that allows many low-income families to receive a subsidy to cover the full value of their premiums and prevents families from falling a financial cliff as their income rises.

Medicaid Unwinding, started in April 2023. Not everyone coming off Medicaid right now is going to be LOW INCOME. That's right!! there could be people that got on there when they were unemployed for a month or 2 but now, they're back to making 5 or even 6 figures.

In Arizona, Florida, Iowa, Missouri, Nebraska, or Texas? Let your friends and family know that I can help if they are losing Medicaid. You may even have children that went on OHP for the pandemic and need help transitioning from Medicaid.

- Doug Myrick cell 407.244.0972

How do I apply for health insurance if I don't have a social security number?

Can I apply if I don't have a Social Security number?

Yes, you can apply if you’re lawfully present even without a Social Security number (SSN) as long as one of the following is true:

• You’ve applied for a SSN
• You don’t qualify for a SSN due to your immigration status
• You do not want to provide your SSN for religious reasons

If your family member doesn't have a social security number, they can still be included on your plan if they have lawful immigration status.

If you or a family member don't provide an SSN on your application, you’ll need to provide appropriate documentation within 90 days. 

• Link: Apply For Your Social Security Number While Applying For Your Work Permit
• Link: How do I apply for a new or replacement Social Security number card?

How to apply without a Social Security number

If you're applying in most states directly on the HealthSherpa site:

• When you reach the "Personal Info" page of the application, click the circle that says "This applicant doesn't have a SSN."

• If you enroll directly with your exchange and would like to keep Doug Myrick as your broker of record, you'll this information: 

  • Our broker name (our CEO and agent of record’s name): Douglas W Myrick
  • Our National Producer Number (NPN): 225740
• If you're applying in Florida, and you need to apply over the phone (305) 741-3684 with Doug Myrick in order to enroll in health insurance if you or a family member does not have a Social Security number. We'll assist you in navigating the application. 

How Do I Start Investing?

When should I start investing? This is a question I get asked often. My first response is “what do you want to accomplish from investing?” What is your destination? Is it more passive income, financial freedom, because you feel like you have to in order to get ahead. Whatever the answer is you can start right now by investing in yourself. You must learn to work the muscle of investing. In order to invest and learn to invest you can start with zero money. In order to have more time and money you need to learn to invest more time and money.  

In order to invest you must learn to sacrifice time and money for other things. Sacrifice is required to invest. Sacrifice today so that you don’t have to tomorrow.  

To learn to sacrifice/invest time, you must learn to invest your time in activities such as working out, journaling, reading, meditating, things that you normally don’t do that you know would be of benefit to you. To learn to invest money start today by opening a bank account called your “investment account”. This account can be invested into each month with a certain amount of money. Then when enough accumulates, I recommend at least $50,000, then you can invest that amount into an investment. You are practicing working the investment muscle with these activities.  

Changing your mindset around investing time and money is how you start today. 

- Doug Myrick, cell 407.244.0972

  

Calculated Risks...

 

Risk taking is required in business. How risky are you? Do you take calculated risks or blind risks?

I have taken both in my life many times. Earlier in my career I took way too many blind risks. I just jumped. I have found that is a little too much risk and I learned so much along the way. Thankfully I have not been burned too much so far. It could change.

Over the last couple years, I have learned to take more calculated risks. Spent a little more time on decisions and consulted with my mentors/coaches before making decisions. Surrounding myself with people way smarter and more experienced than me has helped me to take more calculated risks. As I have developed a less worried mindset and also recognizing that I am not a failure has also helped with my ability to take risks. Risk does in fact favor the bold. Sometimes it just isn’t worth it. 

Remember to remind yourself of what you want each day by writing down your goals and this will help you to take and decide which risks are calculated and which are blind. 

- Doug Myrick cell 407.244.0972