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If you’re a Connecticut resident looking to find the best rates on Health Insurance, there are many options to take advantage of. Most probably the best rates are afforded to employers with a large employee base. However, if you are recently unemployed, self-employed or have been without employment beyond for more than 18 months, there are health insurance options for you too.
Here are a few options:
1.Recently unemployed: If you were recently laid off from your job, COBRA (Consolidated Omnibus Budget Reconciliation Act) will allow you to continue the coverages offered by your company sponsored health insurance plan if you are willing to continue paying the monthly premiums. Realize, however, your employer is no longer responsible for paying their portion of your premiums, so expect to pay more for the same coverage. COBRA coverage lasts for approximately 18 months.
2.Unemployed beyond COBRA: Health Reinsurance Association of Connecticut (HRA) provides options for people who have exhausted their COBRA benefits. HRA is a non-profit association of insurance companies and HMO’s who provide health insurance coverage in Connecticut. They offer three types of insurance plans (Portability Plan) for individuals. You can chose from an HMO, PPO or SHCP plan.
To qualify any of the three plans you must be less than 65 years of age and have had coverage for at least 18 months. You must, however, apply for coverage prior to the expiration any insurance coverage you currently have,Air Jordan. Depending on which plan you choose, other qualifications may apply.
3.Self-Employed: Before soliciting health insurance if you are self-employed, contact the Connecticut State Insurance Department. They have a listing of several insurance companies that are willing to insure the self employed.
In addition to the suggestions above, if you are a member of a group association, you might be able to obtain health insurance coverage through that association. Always shop around for more than one quote before making a decision.
Young as you are, preparing for retirement should be in your agenda the moment you get a job. If your company is not contributing towards your retirement, get a realistic plan. Review your finances and get going,Moncler Pas Cher. The thought that you have your retirement in the works gives you confidence to face the future.
What is a Retirement Plan?
A retirement plan is a setup that provides people income or a pension after years of hard work or retirement security. In the UK, this plan is called a pension scheme and in Australia, a superannuation plan. There are different arrangements for a retirement plan to suit your financial circumstance. Younger job entrants can enjoy a low flat rate, while older workers may pay a higher rate.
You enjoy tax benefits if you're paying for your monthly contributions to your pension plan. If your employer is contributing towards your plan, he can avail of tax breaks. The US government requires a permanent retirement plan to prevent the abuse of tax benefits and the moment payments are not continued, the government will disqualify the plan. Your or your employer will have tax problems later.
It may seem that retirement is a long way off especially, if you're in your twenties. Your interests may range from going out with friends, collecting Colibri lighters, NFL banners, shopping for trendy clothes, and buying a car. A retirement plan seems out of place in your scheme of things.
But eventually, that day of reckoning will come and you'll be left out in the cold, wondering how to survive on nothing. A retirement plan will eliminate those worries and you can enjoy your investment - have vacations and fun - which you rightfully deserve.
On the day you retire, a pension check will arrive at your doorstep every month. The higher the premium you've paid, the higher your monthly pension. If you're getting a plan project into future possibilities - prices of commodities may increase - and your monthly pension may not be enough to cover all your needs.
Types of Pension Plans
Ask your employer about retirement contributions. You might be told that a fixed amount is deducted from your pay each month. This is the Individual Retirement Account or IRA-based plan.
Your employer may or may not contribute towards the fund. Whatever the case, always follow your retirement payments and keep records of all the deductions towards the plan,Doudoune Moncler Femme. In case you get another job, you can always follow through with the payment.
The 401(k) plan requires the company to match their employees' contributions and these contributions are not subjected to federal and state income taxes,Air Jordan Homme. The moment the fund is withdrawn, the taxes come rolling in. It's like saving money in a pre-tax basis.
If your employer uses the 401(K) Plan, you'll be given the choice where to invest your contributions and how much you will contribute. The Keough Plan is the option for those self-employed. The qualified and profit-sharing plans are the type of plans those working in the private sector can avail.
Thinking Ahead
So you say you're still in your 20s and retirement is a long way off. That's right. But wise young people see the benefits of having a retirement plan. Everybody wants to retire at 40 and enjoy life while they are still able. The 20s is the best time to plan ahead.
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