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Posts Tagged ‘Berwyn’

Modified Adjusted Gross Income under the Affordable Care Act

Monday, November 3rd, 2014

For individual/family plans, what is included in household income for subsidy determination? How do I know what to state for my income to determine subsidies?

Household income includes incomes of the taxpayer, spouse, and dependents. In determining eligibility for exchange subsidies, income will be based on your attestation of your expected income in 2015 and will be verified by the exchange with documentation from your most recent tax return, with consideration of reasonable changes you expect. Exchanges will calculate enrollees’ household incomes using Modified Adjusted Gross Income, or MAGI.  The MAGI calculation includes such income sources as wages, salary, foreign income, interest, dividends, and Social Security. MAGI calculation does not include income from gifts, inheritance and some other income sources are partially excluded. More information on MAGI is available here

MAGI_summary13

Most employers to reject private exchanges

Friday, October 17th, 2014

Benefits Pro reports:

“Oops. The private exchange juggernaut may have just hit a bump in the road to success.

Myriad studies have tried to fathom whether major employers will decide to shift their employees to the growing number of private health exchanges. Some research has suggested shifting workers to a private exchange model will result in health coverage cost savings for employers.

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Small Firms Hit by Big Changes in Health Coverage

Wednesday, September 3rd, 2014

The Wall Street Journal reports:

“Businesses with fewer than 50 workers are exempt from the most stringent requirements for larger employers under the federal health-care law. But that doesn’t mean they’re off the hook entirely.

Smaller employers aren’t required under the Affordable Care Act to offer coverage for their full-time workers—as larger firms must by 2016 or face penalties, for instance. But many owners of small ventures and startup entrepreneurs are nonetheless facing big changes to how they obtain their own health coverage, as well as to the benefits they’re able to offer employees.

“It’s a myth that smaller firms aren’t being hit” by the health law, albeit in less obvious ways, says James Schutzer, president of the New York State Association of Health Underwriters, referring to employers with fewer than 50 workers.

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Feds release draft tax forms for employer compliance with ACA

Wednesday, July 30th, 2014

Benefits News reports:

“The Internal Revenue Service on Thursday released drafts of the forms employers will use to report on health coverage they offer to their employees, unveiling a glimpse of the administrative onus in store for benefit advisers and their employer clients working to comply with the Affordable Care Act.

Despite continuing calls to further delay the mandate and confusion about employer shared responsibility requirements following conflicting court rulings just this week on ACA subsidies offered on the federal exchange, the IRS posted to its website draft forms for employers and individuals to use when reporting their health coverage starting in 2015.

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Ask Kim: buying health insurance in the off-season

Tuesday, July 15th, 2014

Chicago Tribune reports:

“I’m leaving my job in a few months and moving to New York. Can I get new health insurance even though open enrollment is over? Yes. Even though open enrollment for individual health insurance is closed until November 15, 2014, you can buy a new policy now (either on a state exchange or directly from an insurer or agent) if you move or experience certain other “life changes,” including getting married or divorced, having or adopting a baby, and losing other health insurance. You generally have 60 days from the date of the event to buy a new policy. (more…)

Why Obamacare’s been a boon for Blue Cross

Thursday, June 12th, 2014

Crains Chicago Health Care Daily reports:

“Blue Cross & Blue Shield of Illinois estimates that it scooped up 92 percent of consumers who bought Obamacare health insurance plans in the state.

“We’re happy with the amount of people that have chosen us,” Lauren Perlstein, senior manager of public relations at Health Care Service Corp., the parent of Blue Cross plans in five states. “We’re committed to the state of Illinois, so we’ve been the plan to offer our services and coverage in every single part of this state. People know the Blue brand, and when they see the Blue brand, they’re apt to go with it.”

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Most uninsureds don’t plan on getting covered

Monday, February 17th, 2014

Benefits Pro reports:

“Less than 40 percent of the uninsured population will get health insurance this year, despite the individual mandate in the Patient Protection and Affordable Care Act that says they have to.

That estimate comes from a survey released by the Robert Wood Johnson Foundation and the Urban Institute. (more…)

Affordable Care Act: Employer cannot pay for Exchange plan

Wednesday, January 8th, 2014

Health Unsurance reports:

Can my employer subsidize the cost of insurance purchased through the California Exchange?

West Coast Raisin

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U.S. scrambles to boost healthcare enrollment as deadlines loom

Friday, December 20th, 2013

The Chicago Tribune reports:

“The Obama administration announced a flurry of fixes to its troubled HealthCare.gov website on Friday that officials said would soon double its current capacity, a crucial step toward getting the system working by a November 30 deadline.

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55 Health Care Reform Acronyms

Thursday, August 22nd, 2013

Zane Benefits reports:

“Health care reform has introduced a new language of acronyms, terminology, and abbreviations. These acronyms are used to describe the law, regulations, health insurance, and government entities. Here is a list of the top 55 health care reform acronyms, and what they stand for.

(more…)

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