“The parent company of Blue Cross & Blue Shield of Illinois appears to be reaping the benefits of setting the premiums for its plans lower than other carriers on the federal health insurance exchange. (more…)
Posts Tagged ‘Hoffman Estates’
“Co-payment: A fixed amount you pay for a covered health service. Usually paid when you receive the service.
Deductible: The amount you pay for health care services your health insurance plan covers before your health insurance plan begins to pay.
The Health Insurance Marketplace (also known as the Exchange): Administered by the federal government at http://www.healthcare.gov. Designed to make buying health coverage easier and more affordable.
This afternoon, the IRS and U.S. Department of Treasury have issued a FSA Notice modifying the healthcare flexible spending account (FSA)’s “Use-it or Lose-it” rule.
Effective immediately, employers that offer FSA programs that do not include a grace period will have the option of allowing employees to rollover up to $500 of unused funds at the end of the plan year.
The rollover has no impact on the annual maximum salary reduction amount that applies to FSAs and is permitted by law. Therefore employees can rollover up to $500 and still salary reduce up to $2,500 into their FSA for the plan year.
“If you’re hearing about the new Health Insurance Marketplace and wondering if it might be a better deal than your employer’s insurance, the answer is: It probably isn’t.
People covered under most employer group insurance policies aren’t eligible for some of the Affordable Care Act cost-saving benefits — mainly tax credits. Without those tax credits, it’s extremely unlikely you’ll find a better deal on the insurance marketplace exchange.
“This week, in Time magazine, I read about a possible solution. And it frightens me.
Group appointments. Yes, doctor-patient-patient-patient-patient-patient relationships.
It appears more people are seeing their doctor with another nine or so other patients in the room.
This isn’t an entirely new idea, but it’s becoming more popular than ever. Since 2005, the percentage of practices offering group visits has doubled, from 6 percent to 13 percent in 2010.
“More employers are trying to assuage worker concerns about how much of their salary goes to their health coverage by pegging the cost of coverage to salary ranges.
This trend was noted by Mercer in a study of how companies were managing their health care plans. Mercer’s survey revealed that 12 percent of responding companies were using salary-based health coverage schemes in 2012, up from 10 percent in 2011. Now, signs are that that percentage is about to jump significantly.
Large employers are leading the way; in Mercer’s study, 20 percent of firms defined as “large” were segregating employees into premiums based upon a salary range. But more are following, as Obamacare begins to assume a less-fuzzy shape.
“Six insurance carriers submitted 165 health insurance plans to be offered on the Illinois Health Insurance Marketplace, the online exchange where individuals and small businesses in October can begin buying coverage for 2014, state officials said Wednesday.
The state didn’t say which insurers submitted plans, which must be vetted by state and federal regulators to ensure they comply with new rules.
Three quick things you should know about Obamacare
Hi all –
In the past few days, we’ve received three really interesting new pieces of information about the health care law, and we wanted to share these data points with you so that you get a big picture of how things are changing for the better as the law gets implemented.