Speaker 1: Hi, good afternoon everybody. My name is Amber Peterson and I own Southern Comfort Insurance. Today I wanted to do a video on health insurance in this state and explain the differences between marketplace and private insurance. So if you are employed somewhere where you have a payroll deduction benefits coming out, that's actually called group insurance. And you're probably familiar with the term open enrollment. So once a year you get a benefits package. It explains the benefits. You maybe get to choose a plan. You can add your family. That's group insurance. If you're like myself and you're self-employed, basically you have a few options. You can either go without insurance, which they call that self-insured. And that just means you have a savings account. And if something bad happens, then you just hope and pray that you have enough in there to cover your hospital bills. The other route is the marketplace. A lot of people are familiar with Florida Blue. That's Obamacare. It used to be known as Obamacare. Now they just call it the marketplace. And that is income-based, household income-based. So if you're a married couple, that means both of your incomes. If you have children who work as well, that's all considered household income. And when you go online and apply for marketplace insurance, based on your annual income, they give you a stipend. Which is essentially a credit towards the amount of premium that you pay monthly. And depending on your income level, that stipend is more or less. So some families who make higher than average income and they have, say, three, two, three children, their premiums come back quoting at $2,000, sometimes $3,000 a month for health insurance, which is just astronomical. So then your next option would be to go to private insurance, which is health-based. So income has no effect. It's really great for those of you who are self-employed. And there are true PPO plans. I personally write through Aetna and UnitedHealthcare. So I want to dive into a couple of the key differences, though. These are things you really want to think about when deciding for health insurance for yourself. So one big thing is if you're going to build a family and you're trying to make a baby, private insurance does not cover anything related to pregnancies. So if you are looking to create and build your family and make a baby, you might want to try marketplace or continue with group coverage if you're having insurance through your employer. Also, if you have any kind of pre-existing conditions, marketplace insurance, you can have any pre-existing condition. It's an accept-all, be-all. You can actually recently just been diagnosed with cancer and need to go to Moffitt for treatment. You can still enroll with Florida Blue Marketplace. With private health insurance, there's underwriting questions that you have to pass to be enrolled. So private insurance is really good if you're just one of those folks that you don't go to the doctor unless you're dying, unless you absolutely need a doctor or you don't like the doctor. You go maybe for annual blood work, a physical once a year. You don't take a lot of medication. That's a really good option because the premiums are going to be way less than marketplace insurance. They have prescription coverage on them as well depending on the plan that you choose. You can also choose your deductible and you can also choose if the plan has coinsurance or not. I think that's pretty much the key differences. Just really take those questions into consideration when you're reporting your income. If you under-report, if you project, I mean rather, if you under-project your income at tax time, you will get hit with that and you will get a significant bill at tax time if you are on marketplace and you said your income is going to be X and it ends up being Y. So be mindful of that if you're building a family. If you have recently been diagnosed with any kind of illness or if you have any upcoming surgeries, that would not be good for private insurance. But if you're just one of those folks, it's like, you know what, I need something for the what if. I just go to the doctors annually. Contact me and I can give you a quote and you can compare what you're paying with marketplace or if you're just completely going without insurance, it's always good to have something in place. My cell phone number is 520-508-9662 or you can email me at southerncomfortinsurance at gmail.com. Thank you so much. Have a good day.