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Posts Tagged ‘Barrington’

See who’s owed the most by deadbeat Illinois

Thursday, September 21st, 2017

Crain’s Chicago Business reports:

“More than 60 businesses and other groups are owed at least $10 million apiece by the state, while 13 of them are due $100 million or more. Those owed the most are in health care, including insurers Aetna Better Health and Blue Cross/Blue Shield parent Health Care Service Corp., each out nearly $600 million.

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A new kind of doctor’s office charges a monthly fee and doesn’t take insurance — and it could be the future of medicine

Friday, March 24th, 2017

Yahoo Finance reports:

“Dr. Bryan Hill spent his career working as a pediatrician, teaching at a university, and working at a hospital. But in March 2016, he decided he no longer wanted a boss.

He took some time off, then one day he got a call asking if he’d be up for doing a house call for a woman whose son was sick. He agreed, and by the end of that visit, he realized he wanted to treat patients without dealing with any of the insurance requirements.

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Ready or not, it’s time to pick your best health plan

Monday, October 31st, 2016

The Chicago Tribune reports:

“With the annual sign-up period for plans on the health law’s marketplaces starting Nov. 1, many consumers are worried about rising premiums, shrinking provider networks and the departure of major insurers such as UnitedHealthcare, Aetna and Humana from many exchanges.

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Large employers stick with employee health plans, small businesses another story

Tuesday, August 2nd, 2016

Benefits Pro reports:

“Large employers continue to believe in the value of sponsored health benefits for employees, despite the options available to them under the Affordable Care Act. But small employers are increasingly choosing to pull out of the health benefits business.

That’s what a survey from the Employee Benefits Research Institute (EBRI) found when it examined the percentage of employers offering health insurance from 2008 to 2015. Using data from the Medical Expenditure Panel Survey — Insurance Component, EBRI reported that nearly 100 percent of the largest employers (those with 1,000 or more employees) have continued to offer health insurance through the ups and downs and gyrations of the past seven years.

 

The Federal Government’s $146 Billion Obamacare Boo-Boo

Thursday, April 28th, 2016

According to The Motley Fool:

Bad things can happen when a government forecast proves to be way off.

There are mistakes, and then there are big mistakes. What the Congressional Budget Office’s latest report on federal subsidies revealed was a mistake of monstrousproportions on the part of the federal government.

Here’s what a forecasting error looks like
The Congressional Budget Office, or CBO, has been making projections on the future of Obamacare, and healthcare in general, for years. Initially, the CBO had projected that up to 21 million people would sign up for private health insurance using Obamacare’s transparent marketplace exchanges by 2016. However, that estimate has been substantially reduced to just 12 million. According to the Department of Health and Human Services, Obamacare enrollment totaled “about 12.7 million” as of the end of third enrollment period (Jan. 31, 2016). Ultimately, the CBO foresees private health enrollment via Obamacare topping out at between 18 million and 19 million people between 2018 and 2026.

Why such a huge difference in actual enrollment versus initial projections? To begin with, the government appears to have overestimated just how many people would sign up on private exchanges versus being enrolled via their employer. The data has thus far shown that nowhere near as many people as expected dropped out of employer-sponsored insurance to sign up on Obamacare’s marketplace exchanges, meaning there was a considerably smaller uninsured pool than initially anticipated. (more…)

How Obamacare Makes Tax Filing Trickier

Thursday, April 21st, 2016

According to Time Inc.

“Many Americans will get new tax forms for the first time. Here’s what to do with them.

 

This year, you may be receiving tax forms you’ve never seen before, all thanks to the Affordable Care Act, aka Obamacare. For the most part, these documents won’t make tax filing too much harder—with one big exception. Here’s what you need to know about this paperwork, depending on what kind of health insurance you had in 2015.

If you had health insurance from your employer all year…

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Tax Scams Are Targeting Uninsured, I.R.S. Warns

Monday, March 21st, 2016

The New York Times reports:

“The Internal Revenue Service is warning consumers about tax scams involving the Affordable Care Act and penalties imposed under the law on people who go without health insurance.

In some cases, the agency said, unscrupulous tax preparers tell clients to pay the penalties directly to them, and they keep the money.

(more…)

IRS Grants Extension for 6055 and 6056 Reporting

Tuesday, January 26th, 2016

According to United Healthcare, Broker Connection Special Edition:

“On Dec. 28, 2015, the IRS announced that it is granting an automatic extension for the 2015 information returns required of insurers, employers and certain other providers of Minimum Essential Coverage (MEC) under Section 6055 and 6056 of the Internal Revenue Code (IRC).

Coverage providers that need more time now have until March 31 to get Form 1095 to individuals and until June 30 to electronically file with the IRS. For providers not filing electronically, the deadline is May 31, 2016. (more…)

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