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Posts Tagged ‘DuPage County’

4 New Exemptions To The Tax Penalty For Lacking Health Insurance

Tuesday, May 8th, 2018

NPR reports:

“There already have been more than a dozen reasons U.S. consumers can use to avoid paying the penalty for not having health insurance. Now the federal government has added four more.

These “hardship exemptions” let people off the hook if they can’t find a marketplace plan that meets not only their coverage needs but also reflects their view if they are opposed to abortion.

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Amazon, JPMorgan, Berkshire create new company to tackle health care costs

Thursday, February 1st, 2018

The Chicago Tribune reports:

Three of corporate America’s heaviest hitters — Amazon, Warren Buffett and JPMorgan Chase — sent a shudder through the health industry Tuesday when they announced plans to jointly create a company to provide their employees with high-quality, affordable care.

The announcement was short on details about precisely what the independent company will do. But given the three players’ outsize influence — and Amazon’s ability to transform just about everything it touches — the alliance has the potential to shake up how Americans shop for health care, and the stocks of insurance companies, drug distributors and others slumped in reaction.

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DuPage County: Medicare Supplement

Wednesday, October 18th, 2017
DuPage County Fair 2009 > Music Fest Ride

DuPage County Fair 2009 > Music Fest Ride (Photo credit: danxoneil)

We specialize in helping DuPage County individuals understand Medicare and Medicare supplements.

Medicare is a federal program to help older Americans and some disabled Americans pay for the high cost of healthcare.

Generally, the Government’s Medicare Program consists of 4 parts:

  • Part A is for hospital services, no premium
  • Part B is for medical services, premium based on income
  • Part C are Medicare Advantage Plans. It’s a Government Program. Sold through Insurance Companies, plans and pricing vary.
  • Part D is the prescription drug plan. It is also sold through insurance companies, plan and pricing vary.

Medicare does not cover all the costs.

To help cover the costs that Medicare doesn’t cover, you have a few choices.

  • Medicare supplement plans (AKA – Medigap)
  • Medicare Advantage Plans
  • Prescription Drug Plans (AKA – Part D, PDP, and Medicare Rx)

In order to purchase one of these supplements, you will need to sign up for both Medicare Part A and Part B.

Please contact us at (847) 426-2788. We are also proud of our 5 Star Google Places reviews. Thank you for visiting our website we look forward to working with you.

Thanks again,

Robert G. Eriksen, President
Personal Health Insurance Broker

Phone: (847) 426-2788
Email: Bob@EriksenInsurance.com

No one thinks the GOP health bill is a good idea for Illinois

Friday, March 24th, 2017

Crains Chicago Business reports:

“There are not many things that Republicans and Democrats in Illinois agree on. But there’s near universal consensus that House Republicans’ proposed Obamacare replacement would do serious harm to Chicago and the state as a whole.

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How I Was Wrong About ObamaCare

Tuesday, August 2nd, 2016

The Wall Street Journal reports:

“I was wrong. Wrong about an important part of ObamaCare.

When I joined the Obama White House to advise the president on health-care policy as the only physician on the National Economic Council, I was deeply committed to developing the best health-care reform we could to expand coverage, improve quality and bring down costs. We worked for months to pass this landmark legislation, and I still count celebrating the passage of the Affordable Care Act with the president one balmy spring night in 2010 as one of my greatest Washington memories.

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Big news for Chicago-area Obamacare insurance exchange: Cigna seeks to join

Tuesday, July 26th, 2016

The Chicago Tribune reports:

“One of the nation’s largest health insurance companies plans to enter the Obamacare marketplace in the Chicago area for the first time, bringing new competition as other insurers exit or go out of business.

The Tribune has confirmed that Cigna, based in Bloomfield, Conn., has filed plans to sell health policies to individuals and families who purchase their own coverage in the individual market. If the plans are approved by Illinois regulators, Cigna will start selling policies Nov. 1, when enrollment for 2017 Obamacare coverage opens.

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Feds Tightening Use Of Short-Term Health Insurance

Tuesday, June 14th, 2016

Insurance News net reports:

The Obama administration wants to limit consumers’ use of short-term insurance plans, which a growing number of Americans have been buying in response to the Affordable Care Act’s requirements to have health coverage.

This week, the U.S. Department of Health and Human Services proposed limiting short-term health policies to a term of three months. Currently, short-term policies can be issued for a term of up to one year.

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Blue Cross Blue Shield Confirms Obamacare Death Spiral

Thursday, April 28th, 2016

According to The Beacon:

” The Blue Cross and Blue Shield Association, which represents 36 Blue Cross and Blue Shield plans covering 105 million Americans, has just released a study of its members’ claims data in Obamacare exchanges 2014 and 2015. It confirms that Obamacare exchange enrollees are sicker and more expensive than enrollees in pre-Obamacare individual plans or employer-based plans.

Here I quote four of the study’s findings:

  • Members who newly enrolled in BCBS individual health plans in 2014 and 2015 have higher rates of certain diseases such as hypertension, diabetes, depression, coronary artery disease, human immunodeficiency virus (HIV) and Hepatitis C than individuals who had BCBS individual coverage prior to health-care reform.
  • Consumers who newly enrolled in BCBS individual health plans in 2014 and 2015 received significantly more medical care, on average, than those with BCBS individual plans prior to 2014 who maintained BCBS individual health coverage into 2015, as well as those with BCBS employer-based group health insurance.

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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…)

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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