Ted Jenkin, CFP®, AAMS®, AWMA®, CRPC®, CMFC®, CRPS®
Co-CEO and Founder oXYGen Financial, Inc.
Request a FREE consultation: www.oxygenfinancial.net

There has been much debate about the hyped up nearly trillion dollar health care reform that has been in the media every day.   Heck, I hope you like novels because the last full draft I read on the bill was over 1,000 pages.   I’m sure that you can get the condensed version on some news source which will tell you the 6 or 8 key bullet points that they think you need to know.   I wanted to let you know that I am not a huge fan of this and neither should you be when you think about the bill.
There is a surcharge tax of 5.4% on income earners who are single and make more than $500,000 adjusted gross income, and married filing joint that make more than $1,000,000 adjusted gross income.   This is supposed to raise $460 billion dollars over the next 10 years.   Wouldn’t common sense tell you that those that make more than $1,000,000 would figure out a way to build tax strategies to keep their income under that level?
The bill has your Flexible Savings Accounts moved down to a limit of $2,500 from $5,000 at its current level along with a host of penalties if the accounts aren’t used for certain types of expenses.   For many families, this will represent a tax increase by essentially taking away the ability to use pre-tax dollars in these accounts by cutting the amount you can put away in half.
Most of all, the Government is coming into the market with a public health option.   What can be said except anytime the Government competes with you it almost defeats the purpose of free market capitalism.   Maybe I should get excited next that they will come into the market place with their own financial advisory division.  But of course, you wouldn’t hire a financial advisor to take your family into trillions of dollars of debt.

11680 Great Oaks Way, Suite 175 | Alpharetta, GA 30022
Phone 1.800.355.9318 or 770.777.0427
oXYGen Financial, Inc. co-CEO Ted Jenkin  is one of the foremost knowledgeable professionals in giving financial advice to the X and Y Generation.
TED JENKIN IS SECURITIES LICENSED THROUGH INVESTACORP, INC. A REGISTERED BROKER/DEALER MEMBER FINRA, SIPC.  ADVISORY SERVICES OFFERED THROUGH INVESTACORP ADVISORY SERVICES, INC. A SEC REGISTERED INVESTMENT ADVISORY FIRM.    Linked sites are strictly provided as a courtesy. Investacorp, Inc., and its affiliates, do not guarantee, approve nor endorse the information or products available at these sites, nor do links indicate any association with or endorsement of the linked sites by Investacorp, Inc. and its affiliates.