Latest News + Info
The latest information relating to the health insurance industry.
Illinois Obamacare plan crippled by losses
According to Crain's Chicago Business " The operating losses continue to mount at struggling Land of Lincoln Health, totaling $90.8 million for the Obamacare health plan in 2015. That net loss is almost five times greater than the Chicago-based startup reported in...
Tax Scams Are Targeting Uninsured, I.R.S. Warns
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...
IRS Grants Extension for 6055 and 6056 Reporting
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...
Healthcare.gov CEO says insurance marketplace’s complexity argues for agents
According to The Advocate: "The Affordable Care Act is confusing and complicated, which means that health insurance agents and brokers are needed to help consumers pick the best plans for them, Kevin Counihan, chief executive officer of Healthcare.gov, said Monday....
Coming soon to your mailbox: An Obamacare tax form
According to The CT Mirror: "Even if you don’t get your health insurance through Obamacare, you’re likely to get something related to the health law in the mail in the coming weeks: A new tax form. Known as Form 1095, it’s part of the way the federal government...
Humana to Record 2016 Obamacare Shortfall, Membership Drops
According to Bloomberg Business: "Humana Inc. is the latest insurer to run into trouble in Obamacare’s individual health-insurance markets. The health insurer said that it probably won’t collect enough money to cover costs for some customers who bought individual...
Feds tighten when people can enroll in Obamacare plans
According to USA Today: "Bowing to pressure from insurers, federal officials on Tuesday tightened the conditions under which people can sign up for plans on the HealthCare.govexchange outside open enrollment. The move by the Centers for Medicare and Medicaid Services...
Here’s What Medicare Part B Costs and Covers in 2016
According to The Motley Fool: "Learn how this part of the Medicare program works. Retirees rely on Medicare to help them with their healthcare expenses, but getting a better understanding of how the program's different components can be challenging. Medicare Part B...
CMS Proposes Health Insurance Exchange Changes for 2017
California Healthline Reports: "On Friday, CMS released a proposed rule that would require minimum network standards for health plans sold through the federal exchange in 2017, Modern Healthcare reports. Proposed Rule's Network Standards Under the rule, states would...
With Michigan Closure, More Than Half of Obamacare CO-OPs Have Now Failed
Energy & Commerce Reports: "WASHINGTON, DC – The number of failed Obamacare CO-OPs grew to one dozen today as Michigan became the latest to announce it was closing. To date, 12 of the original 23 CO-OPs have closed, bringing the total cost to taxpayers at more...