此次线上论坛将在“全球投资理财沙龙记录频道” Youtube频道同步直播，并将在爱奇艺 “投投有道”频道后期剪辑频道录播。
特邀谈话嘉宾：Nelson Lai (黎富城): 美国安心医保总裁，资深美国医疗保险和养老保险专家，美国纽约资深保险业界精英
特邀谈话嘉宾： ZeYa Sun (孙泽亚)，新加坡友邦保险金融服务顾问AIA Financial Services Consultant,Authorized Representative of AIA Singapore, 新加坡企业奖学金得主，毕业于南洋理工大学，友邦百夫长团队经理，百万圆桌会员，友邦年度精选顾问
特邀谈话嘉宾：Tiange Liu (柳天歌)，新加坡友邦保险金融服务顾问AIA Financial Services Consultant,Authorized Representative of AIA Singapore,新加坡企业奖学金得主，毕业于南洋理工大学，2020友邦年度领先顾问，友邦企业家推动计划会员
神秘特邀颁奖祝词嘉宾 1： 纽约市议员候选人，华裔政治领袖，特邀致辞开场
神秘特邀颁奖祝词嘉宾 2： 资深美国政界代表，纽约政界屡次担任要职，政治世家出身，特邀致辞开场
8PM to 9:30PM (美东时间)
1. 加入 Zoom 会议
会议号：820 6088 7183
+16465588656,,82060887183#,,,,*123456#美国 (New York)
+1 646 558 8656 美国 (New York)
+1 312 626 6799 美国 (Chicago)
+1 301 715 8592 美国 (Washington DC)
+1 253 215 8782 美国 (Tacoma)
+1 346 248 7799 美国 (Houston)
+1 669 900 9128 美国 (San Jose)
会议号：820 6088 7183
2． 加入Youtube 频道直播: “全球投资理财沙龙记录频道”
活动前申请加入全球投资理财沙龙微信群(wechat 报名: clubadmin123，请注明你的职业，投资年限和经验) 并在以下活动登记Survey中报名
活动前在“全球投资理财沙龙记录频道Youtube 频道”的 “美国养老医疗保险的选择和新加坡保险的介绍 ” 任意社区帖子下留言报名
活动前在Chinese American Startup Association Meetup（https://www.meetup.com/USACASA/） 相关活动页面直接登记
上海GDP 3.87萬億/601B USD
CMS in the report estimated that national health care spending reached $3.81 trillion in 2019 and would increase to $4.01 trillion in 2020. CMS projected that by 2028, health care spending would reach $6.19 trillion, and would account for 19.7% of GDP, up from 17.7% in 2018. Apr 3, 2020
Healthcare in US is very Expensive but can be very Good.
As I know some doctors who would rather practice in the USA rather than anywhere else.
US (Use for retiring) vs Singapore (Accumulate Wealth)
Mary Buffett (Even Warren Buffett Ex-SIL in there)
避稅 Singapore/退休 USA/養老 USA /醫療 USA
Choose USA If Dual Eligible (Only my opinion, & it is still possible to minimize tax in the USA)
300,000 HQ in 1 office.
1209 North Orange St, Delaware, where 300,000 company HQ in one Office, is, Like Google, Amazon, Facebook, Coke, Ford, GE &, etc.
Family Office vs Complete Retirement (depends if you need to work or not)…
Also, 2 major Countries where the USA has no Extradition Treaty.
Family Office vs Delaware LLC
Such Practices are not likely to change as this started back in 1913, right? Any lawyer here?
SFO vs Delaware LLC (Where Trump has 384 such LLC & is Delaware is Biden home state)
We love selling Delaware Based Health Insurance as well.
There are about 200 Single Family Offices (SFOs) in Singapore and the number has grown in recent years, Tharman Shanmugaratnam, Senior Minister and minister in charge of the Monetary Authority of Singapore (MAS), told the Singapore parliament on 5 October.
An SFO typically conducts various activities to facilitate the day-to-day management of a family’s assets. The activities involved are diverse and would include investment management, consolidation of the family’s accounts and tax filing. A simplified depiction of a typical ownership structure of a family office may be seen in the diagram below:
SFOs usually employ small teams of trusted advisors and investment professionals, and also generate indirect employment in Singapore through their engagement of external finance, tax and legal professionals for advice on wealth planning and operational matters.
Singapore is regarded as one of the most prominent financial centres in South-East Asia and has gained in popularity as a base for many high-net-worth families to manage their assets and investments globally. Singapore enjoys a reputation as a well-governed and well-regulated financial centre that offers political stability and a pro-business environment, as well as the presence of local and global private banks, investment banks and other financial service providers and professionals.
Singapore has a highly competitive tax system. The corporate tax rate of 17% is imposed on income that is either Singapore sourced or is remitted into Singapore. Singapore does not tax capital gains and the basis of taxation is further reduced by a number of exemptions. For corporate resident taxpayers, foreign dividends that have been subject to some foreign tax and are paid from a jurisdiction with a headline rate of at least 15% are exempt. Dividends paid by a Singapore resident company are exempt from further taxation. Singapore also has a large network of double taxation agreements that can reduce taxation at source on certain types of income and gains.
The Singapore government has put in place a number of tax incentives schemes for funds managed by family offices for both offshore and onshore vehicles. These require a Singapore manager that is either licensed or exempt under local securities law for providing fund management services. An SFO is typically structured as a ‘related corporation’ of the family fund vehicle so that it is exempt from regulation. An exemption from licensing can also be granted to a single-family office that can demonstrate that it only manages the assets of the same family.
Specific tax exemption incentives for funds managed by family offices are available for both Singapore resident and non-resident (offshore) fund vehicles, such that almost all investment gains will be exempt from Singapore income tax. These include:
- Singapore Resident Fund Scheme (Section 13R of the Income Tax Act) – This scheme exempts specified income received by an approved company in Singapore from tax, where such income is derived from designated investments in funds managed in Singapore by a licensed or exempt resident fund manager. It will not be applicable if all of the approved Singapore companies’ issued securities are beneficially owned by Singapore persons. The family office is required to incur at least S$200,000 in global business expenses a year and the fund’s administrator must be based in Singapore.
- Enhanced-Tier Fund Tax Exemption Scheme (Section 13X of the Income Tax Act) – Applies to funds with a minimum size of S$50 million that are managed or advised by a Singapore fund manager, which can be an exempted SFO or a licensed multi-family office. The family office must employ at least three investment professionals in Singapore who are substantively engaged in an investment management or advisory role, and the fund must incur at least S$200,000 in business spending in Singapore, which typically covers investment management fees payable to the family office.
Successful applicants under the 13R and 13X schemes will be granted employment passes (one for 13R and three for 13X), which can offer an interim solution pending permanent residency applications.
13R and 13X funds that are approved for the tax incentive scheme before 31 December 2024 can enjoy the benefits of the scheme for the life of the fund, provided that the on-going operational conditions for the entities are met.
Family offices set up under the 13R and 13X scheme can also utilise the new Variable Capital Company (VCC) structure, which came into force on 14 January 2020. A VCC can be set up as a standalone fund, or as an umbrella fund with two or more sub-funds. A VCC structure is regarded as a single company, with a single identity for tax purposes, removing the need for multiple tax returns.
Shares of a VCC are redeemable at the fund’s net asset value (NAV), and VCCs can pay dividends from the capital, which is not typically allowable in other forms of corporate vehicles. In addition, VCC shareholders register will not be publicly available, offering privacy to investors.
Alongside the 13R and 13X schemes, the Economic Development Board (EDB) of Singapore has also introduced the Global Investor Programme (GIP) for families intending to relocate to Singapore. The GIP awards Singapore Permanent Resident (PR) status to eligible global investors and includes an option that is specifically designed for family offices. Eligible investors must invest at least S$2.5 million (paid up capital) in a Singapore-based SFO that has AUM of more than S$200 million and maintain the investment for at least five years.
To qualify under this option, investors must have at least five years of entrepreneurial, investment or management track record and, as an individual or direct family, have net worth of more than S$400 million. Investors must also submit a five-year business plan outlining projected employment and annual financial expenditures, which should set out the functions of the family office, proposed investment sectors, asset types and geographical focus.
Aside from the tax exemption schemes available to the fund vehicles, family offices in Singapore could also apply for a tax incentive under the Financial Sector Incentive – Fund Management Scheme (FSI-FM) which incentivises fund management and the provision of investment advisory services in Singapore. Under this scheme, fee income derived by a Singapore fund manager from managing or advising a qualifying fund is taxed at a concessionary tax rate of 10% instead of the normal corporate tax rate of 17%.
To qualify for the FSI-FM scheme, a fund manager must hold a Capital Markets Services (CMS) licence (unless exempted by the MAS), employ at least three experienced investment professionals earning at least S$3,500 per month and have a minimum AUM of S$250 million. This is especially relevant for large family offices, where the scale of operations and the income derived from managing or advising qualifying funds could be substantial.
There are a number of administrative requirements involved in setting up an SFO, which include the registration of the corporate vehicle(s), the opening of bank accounts, preparations for annual tax reporting, and other regulatory reporting obligations, such as the Common Reporting Standards (CRS) and the Foreign Account Tax Compliance Act (FATCA).
Singapore has become a favoured destination for high-net-worth families to set up SFOs. Sovereign Management Services can assist with the process of setting up a family office and a VCC in Singapore, applying for tax incentives and assisting with the regulatory process and ongoing accounting and taxation requirements.
#Note, I like to focus on Delaware Insurance & my team will do Medicare & other free insurance etc.
65 Above is Medicare (Red Blue Card)
65 Below is Obamacare / Bidencare (White Card/ Half White Card)
Share a real-life story of many of our existing clients
- Could/Should state actual income/asset before applying for greencard
- Many of our top tier clients bring entire family, (parent can become dual eligible, hence free, explain what is dual later)
It varies by state, NY can be better as many people complain about Medicaid in CA.
According to the Cuomo administration’s updated financial plan, posted on Thursday (and later revised), total Medicaid spending is projected to hit $80.3 billion $82.5 billion in the fiscal year 2021, which began in April.
In the near-term, LAO estimates California will spend $22.7 billion in general funds on Medi-Cal in 2020-21. This represents a $920 million (4%) reduction in what was assumed in the 2020-21 Budget Act. This reduction is primarily due to a lower-than-expected Medi-Cal caseload growth stemming from the COVID pandemic
Medicare vs Dual Plan (Remind people about paying FICA)
1. Anyone listened to 1480, Radio, we pay you to take care of your parent…
2. In reality, senior will be charged $100 (Senior Center) to $10,000 (Full MLTC Facility) / day
3. Medicaid+Medicare is the Diamond Card
- Senior Living Center
- Home Care
- Food Stamp
- … A total of 17
The Door to Diamond Card. 10 years of FICA + Social Security.
If you are self-employed, you earn Social Security credits the same way employees do (one credit for each $1,470 in net earnings, but no more than four credits per year). Special rules apply if you have net annual earnings of less than $400.
We can’t do it for free, except if you know Jay…(15 minutes counselling)
Medicare Facts and Myths
#1 Who likes insurance? (Inclusive of Life, Health & Medicare)?
B. Not me
C. Only if it’s free
Let me share a little bit about my insurance story.
What is Medicare?
Medicare (Federal) vs Medicaid (State)
Medicare is a federal program that provides health coverage if you are 65+ or under 65 and have a disability, no matter your income.
Medicaid is a state and federal program that provides health coverage if you have a very low income.
They will work together to provide you with health coverage and lower your costs.
Dual Plan (Medicare & Medicaid)
A. Age 0/New Born
- Developed a disability before age 22
- Have at least one parent who receives Social Security retirement benefits
- And, are unmarried
If your child is 18 or younger and does not qualify for Medicare, they may qualify for your state’s Children’s Health Insurance Program (S-CHIP). S-CHIP is a program for families with low incomes. If your child is 19 or older, they may qualify for Medicaid.
Is Medicare Automatic?
The number of credits necessary to meet the recent work test depends on your age. The rules are as follows:
- Before age 24 – You may qualify if you have 6 credits earned in the 3-year period ending when your disability starts.
- Age 24 to 31 – In general, you may qualify if you have credit for working half the time between age 21 and the time you become disabled. As a general example, if you become disabled at age 27, you would need 3 years of work (12 credits) out of the past 6 years (between ages 21 and 27).
- Age 31 or older – In general, you must have at least 20 credits in the 10-year period immediately before you become disabled.
When you are under 65
You become eligible for Medicare if:
- You have received Social Security Disability Insurance (SSDI) checks for at least 24 months.
- Or, you have been diagnosed with End-Stage Renal Disease (ESRD)
Can undocumented file taxes?
The number of earnings it takes to earn credit may change each year.
In 2021, you earn one Social Security or Medicare credit for every $1,470 in covered earnings each year.
You must earn $5,880 to get a maximum of four credits for the year.
To be eligible for disability benefits, you must meet a recent work test and a duration work test.
How immigrants can be qualified for Medicare without working? Yes, it is Married related…
(Another Seminar maybe)
Enrollment Rate (National)
Part (A/B/C/D) vs Plan (E/F/G)
Never Original/Traditional!!! + Part D
*Reminder (LTC related – Skill Nursing Facility)
#3 Are you a NY state resident?
** NY State only trick…
Which is the best for you?
Medicare Advantage vs. Medigap. You can’t have both, so you must choose wisely … Medicare Supplement Insurance, or Medigap plans, are not connected with or … between the two forms of Medicare (or between Medicare Advantage plans)
Is Medigap really about the price (Y/N)?
Choosing Medigap vs Part C
*explain the different name of Part C
Explains how/what we need.
- Zip Code
- Doctor Information (all)
- Drugs Information
Drugs (can be complicated, but follow the money)
Briefly explain how all plans are changing
- CVS acquired Aetna
- Anthem took over Empire BCBS
- Cigna bought Express Script
- UHC (aka Oxford, Optum) are changing all group number
- Wellcare took over Fidelis
- Last but not least, Amazon
- Walgreen is looking into Human etc …
Good Bye Rite Aid — Is Yours Closing?! We Have a List!
– 紅藍卡的公開期/ 特殊公開期
Adding Medicare AEO/IEP/OEP
AEP (& why OEP)
IEP (No preexisting condition?)
Welcome to Medicare
“Welcome to Medicare” preventive visit
Do you pay Anything?
You pay nothing for the “Welcome to Medicare” preventive visit if your doctor or other qualified health care provider accepts the assignment.
The Part B deductible doesn’t apply.
However, you may have to pay coinsurance, and the Part B deductible may apply if:
- Your doctor or other health care provider performs additional tests or services during the same visit.
- The preventative benefits don’t cover these additional tests or services.
Your doctor or other health care provider may recommend you get services more often than Medicare covers. Or, they may recommend services that Medicare doesn’t cover. If this happens, you may have to pay some or all of the costs. Ask questions so you understand why your doctor is recommending certain services and whether Medicare will pay for them.
What it is
This visit includes a review of your medical and social history related to your health and education and counseling about preventive services, including these:
- Certain screenings, flu, and pneumococcal shots, and referrals for other care, if needed.
- Height, weight, and blood pressure measurements.
- A calculation of your body mass index.
- A simple vision test.
- A review of your potential risk for depression and your level of safety.
- An offer to talk with you about creating advance directives.
- A written plan letting you know which screenings, shots, and other preventive services you need. Get details about coverage for screenings, shots, and other preventive services.
Things to know
When you make your appointment, let your doctor’s office know you would like to schedule your “Welcome to Medicare” preventive visit. Bring the following to your visit:
- Medical records, including immunization records.
- Family health history.
- A list of any prescription drugs, over-the-counter drugs, vitamins, and supplements that you currently take, how often you take them, and why.
Don’t wait: Medicare Advantage Open Enrollment ends March 31th.
This is why we are having this seminar today.
**Mr. Ng Example, Med went from $44 to $700+
Mail-order pharmacy – Drug costs during coverage phases
|Selected drugs||Retail cost||Cost before deductible||Cost after deductible||Cost in coverage gap||Cost after coverage gap|
|Atorvastatin 10mg tablet||$0.00||$0.00||$0.00||$0.00||$0.00|
|Glimepiride 2mg tablet||$0.00||$0.00||$0.00||$0.00||$0.00|
|Invokana 300mg tablet||$1,633.87||$131.00||$131.00||$408.47||$81.69|
|Metformin hydrochloride 850mg tablet||$0.00||$0.00||$0.00||$0.00||$0.00|
|Olmesartan medoxomil 20mg tablet||$0.00||$0.00||$0.00||$0.00||$0.00|
Did you know that if you’re unhappy with your Medicare Advantage Plan (Medicare Part C), you have options? Each year, there’s a Medicare Advantage Open Enrollment Period from January 1 – March 31. During this time, if you’re in a Medicare Advantage Plan and want to change your health plan, you can do one of these:
(Please call us… Too complicated)
Table of Contents
The table in the following pages explains when a Special Enrollment Period may apply to you, how long each SEP lasts,
and when your new coverage will begin. If you qualify for different SEPs at the same time, pick the one that is most
convenient for your circumstances.
1. You have creditable drug coverage or lose creditable coverage through no fault of your own
2. You choose to change employer/union coverage (through either current or past employment)
3. You are institutionalized
4. You are enrolled in a State Pharmaceutical Assistance Program (SPAP)
5. You have Extra Help, Medicaid, or a Medicare Savings Program (MSP)
6. You gain, lose, or have a change in your Medicaid, MSP, or Extra Help eligibility status
7. You want to disenroll from your first Medicare Advantage Plan
8. You enroll in/disenroll from PACE (Program of All-Inclusive Care for the Elderly)
9. You move (permanently change your home address)
10. You have had Medicare eligibility issues
11. You are eligible for a Special Needs Plan (SNP) or lose eligibility for your SNP
12. You are passively enrolled into a Part D plan or Dual-eligible SNP (D-SNP)
13. You experience contract violations or enrollment errors
14. Your plan no longer offers coverage
15. You disenroll from your Medicare Advantage Plan during the Medicare Advantage Open Enrollment Period
16. You qualify for a new Part D Initial Enrollment Period when you turn 65
17. You want to enroll in a five-star Medicare Advantage Plan or Part D plan
18. You have been in a consistently low-performing Medicare Advantage or Part D plan
19. Your Medicare Advantage Plan terminates a significant amount of its network providers
20. You experience an “exceptional circumstance