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Faro Insurance & Income Tax

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Faro Insurance & Income Tax

Faro Insurance & Income TaxFaro Insurance & Income TaxFaro Insurance & Income Tax
  • Home
  • Español
  • ABOUT US
  • INCOME TAX
  • INSURANCE
  • CONTACT US
  • NEWS & PROMOTIONS
fREE CONFIDENTIAL HELP

WHAT IS COVERED CALIFORNIA?

 Covered California is a free service that connects Californians with brand-name health insurance under the Patient Protection and Affordable Care Act. It’s the only place where you can get financial help when you buy health insurance from well-known companies. That means when you apply, you may qualify for a discount on a health plan through Covered California, or get health insurance through the state’s Medi-Cal program. Either way, you’ll have great health coverage. 

Covered California makes it simple and more affordable for millions of Californians to get affordable, quality health insurance, including Medi-Cal, that can’t be canceled or denied because of a pre-existing medical condition or if someone gets sick 

HISTORY

Covered California is a result of the federal Patient Protection and Affordable Care Act, commonly known as the Affordable Care Act or Obamacare, signed into law in 2010. California was the first U.S. state to create its own health insurance marketplace — or exchange — when it established Covered California in October 2012. It marked the beginning of a new era aimed at making health insurance more accessible and affordable to Californians.

TAX PENALTY

Beginning in 2020, California residents must either:

· Have qualifying health insurance coverage, or

· Pay a penalty when filing a state tax return, or

· Get an exemption from the requirement to have coverage.


Eventhough legislation removed the Federal Tax Penalty in the tax year 2019. The penalty will be $750 or more when you file your 2020 state income tax return in 2021. The penalty for a dependent child is half of what it would be for an adult. A typical family of four that goes uninsured for the whole year would face a penalty of at least $2,000. The penalty will be applied by the California Franchise Tax Board when you file your state tax return. 

The Tax Penalty for Remaining Uninsured
It’s never smart to avoid having health insurance — one accident can lead to an emergency room visit and tens of thousands of dollars in bills, or learning you have cancer when it’s too late to treat it. Now there’s another reason to get insured — taxes.
 

The “shared responsibility payment” is a new tax penalty that Americans have to pay this year if they can afford health insurance but choose not to buy it. It’s called a shared responsibility payment because everyone in the United States is now required to be part of our health insurance system — buying health coverage for themselves and their families rather than relying on others to pay for their care. Those who don't buy health insurance in 2016 may be subject to the penalty, which is $750 per person in a household or 2.5 percent of their income, whichever is greater.

PLANS

  Plans available with Covered California consists of:

  • Bronze 60 
  • Silver 70
  • Enhanced Silver 94, 87, 73
  • Gold 80
  • Platinum 90


              HMO AND PPO PLANS

Individual and Family Coverage

Dental Insurance

Dental Insurance

Dental Insurance

Vision Insurance

Dental Insurance

Dental Insurance

SENIOR HEALTH PLANS

CONTACT US

Understanding Medicare

 If you're over 65 (or turning 65 in the next 3 months) and not already getting benefits from Social Security, you need to sign up to get Medicare Part A (Hospital Insurance) and Part B (Medical Insurance).  

 If you already get benefits from Social Security, you'll get Medicare Part A and Part B automatically when you're first eligible and don't need to sign up. Medicare will send you a "Welcome to Medicare" packet 3 months before you turn 65. 

Original Medicare

Part A - Hospital Insurance

Part A - Hospital Insurance

  Includes Part A and Part B. You can use any doctor or hospital that takes 

Medicare, anywhere in the U.S.                                                                               

  • If you want drug coverage, you can join a separate Medicare Prescription Drug Plan (Part D) .
  • To help pay your out-of-pocket costs in Original Medicare (like your 20% coinsurance), you can also shop for and buy supplemental coverage like a Medicare Supplement Insurance (Medigap) policy.

Part A - Hospital Insurance

Part A - Hospital Insurance

Part A - Hospital Insurance

 Part A (Hospital Insurance) Helps cover:

  • Inpatient care in hospitals 
  • Skilled nursing facility care
  • Hospice care 
  • Home health care 

Part B - Medical Insurance

Medicare Advantage (also known as Part C)

Medicare Advantage (also known as Part C)

 Helps cover: 

  • Services from doctors and other health care providers 
  • Outpatient care
  • Home health care 
  • Durable medical equipment (like wheelchairs, walkers, hospital beds, and other equipment)
  • Many preventive services (like screenings, shots or vaccines, and yearly “Wellness” visits)  

Medicare Advantage (also known as Part C)

Medicare Advantage (also known as Part C)

Medicare Advantage (also known as Part C)

 An "all in one" alternative to Original Medicare. These "bundled" plans            include Part A, Part B, and usually Part D. Most plans offer extra benefits  that Original Medicare doesn't cover – like vision, hearing, dental, and        more.                                                                                                                                

  • Plans may have lower out-of-pocket costs than Original Medicare.
  • In most cases, you'll need to use doctors who are in the plan's network.
  • Most plans offer Additional benefits

medicare advantage benefits

Doctors Visits

Preventative Care

Preventative Care

Preventative Care

Preventative Care

Preventative Care

Specialist Visits

Preventative Care

Specialist Visits

Dental Coverage

Hearing Services

Specialist Visits

Vision Coverage

Hearing Services

Hearing Services

Hearing Services

Hearing Services

Hearing Services

Travel Coverage

Transportation Benefits

Transportation Benefits

Transportation Benefits

Transportation Benefits

Transportation Benefits

Fitness Benefits

Transportation Benefits

Fitness Benefits

OUR LOCATIONS

MONTCLAIR

10285 CENTRAL AVE STE D

MONTCLAIR CA 91763


PH: 909-450-2200

FAX: 909-625-8542

 

 Hours of operation

Monday - Friday 9:30am - 6pm

Saturday 9:30am - 2pm

Sunday CLOSED


MONTCLAIR@FAROINSURANCE.COM 

RIVERSIDE

3570 ARLINGTON AVE STE B

RIVERSIDE  CA 92506


PH: 951-787-7000

FAX: 951-786-9021

 

 Hours of operation

Monday - Friday 9:30am - 6pm

Saturday - Sunday CLOSED 


RIVERSIDE@FAROINSURANCE.COM

Copyright © 2020 FARO INSURANCE & INCOME TAX- All Rights Reserved.


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