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Susan Combs named Best Rising Star 2014 by LifeHealthPro

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This year’s nominations for the National Underwriter Industry Elite Awards were stronger than ever, a who’s who of the best and brightest in the realms of market innovation, industry awareness, community outreach and young talent. Our winners and honorable mentions this year stand out for their leadership, drive and brilliance that only the Industry Elites can offer.​ It was an especially difficult selection process as each and every entry stood with great merit. But alas, only one can be chosen. With that, we present to you the 2014 National Underwriter Industry Elite Awards.

To read the full write up on the award, click here!



What’s my penalty?

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A question that comes up time and time again with the Affordable Care Act is:  “How does the Individual Responsibility (aka Mandate) Penalty work?”

To avoid the penalty you must enroll in a marketplace plan OR have private coverage no later than March 31st, 2014. If you do not, below are a breakdown of the penalties you will face.

  • 2014: Greater of $95      per adult and $47.50 per child under age 18 or 1% of household       income
  • 2015: Greater of $325      per adult and $162.50 per child under age 18 or 2%
  • 2016: Greater of $695 per adult and      $347.50 per child under age 18 or 2.5% of taxable gross income capped      at the average bronze-level insurance premium (60% actuarial) rate for the      person’s family.

**The total family penalty is capped at 300% of any annual flat dollar amount for those 18 and over.

**If the penalty applies for less than a full calendar year, the penalty will be 1/12 of the annual amount per month without coverage.

Example:

Let’s look at the O’Brien family of 4 that has 2 children under the age of 18 and the family household income is $100,000 per year.

Just to make the example easier, we are giving everyone names….Meet the O’Brien Family:  Mom – Samantha; Father – Mark; Son – Luke; Daughter – Sarah

Upfront we know that the Max Penalty the O’Brien’s’ can be given is:  $570 (this is figured by a $95 penalty each for Samantha & Mark since they are the only ones over 18 x 300%), now let’s look at the breakdown if they would hit the Max Penalty….

Remember, it is the GREATER of the below up to the Max Penalty:

Flat dollar amount penalty calculation :  $95 (Samantha) + $95 (Mark) + $47.50 (Luke) + $47.50 (Sarah) = $285

Percentage amount penalty calculation:  1% of $100,000 = $1000

Results:  Since the Max Penalty the O’Brien family can be given in this example is $570, this will be the penalty they will be responsible for, since the 1% of household income exceeds this amount.  This amount will be tacked on when Samantha and Mark’s taxes are calculated at the end of the year, so if they were planning on a nice refund this year, that will be deducted from that refund.  Keep in mind that if the O’Brien’s do not pay taxes, as of now, there is no mechanism to collect this penalty.



NYSE Bell Ringing for WIFS
December 27, 2011, 5:07 pm
Filed under: Exciting News

In case you missed it!  Here is the link to the video for ringing the NYSE Opening Bell this morning.

http://exchanges.nyx.com/en/new-york-stock-exchange/women-insurance-and-financial-services-wifs-ring-opening-bell

I can honestly say this was the highlight of my professional carrier, so far….  But how can you top this!?!?

 



Susan Combs to help Ring the NYSE Opening Bell December 27, 2011
December 8, 2011, 4:10 pm
Filed under: Exciting News

Tune in on December 27th 9:25 AM to watch the President of Combs & Company help ring the New York Stock Exchange Opening Bell!

You can tune in live online at 9:29am EST via the provided link below or watch it live on television through CNBC, or Fox Business Network.

http://www.nyse.com/attachment/liveflashbell.htm

The honor of ringing the opening bell comes in celebration of the Women in Insurance and Financial Services (WIFS) 75th Anniversary. Susan is currently on the National & Local Board of Directors of WIFS.