ERIKSEN GROUP
phone
x x x
 

Blog

Posts Tagged ‘family plan’

Can Health Savings Accounts Be a Bulwark Against Long-Term Care Costs?

Tuesday, August 21st, 2018

Morningstar reports:

“Many retirement accumulators take pains to dot the i’s and cross the t’s of their retirement plans. They noodle over their portfolios’ asset allocations, carefully calibrate when they’ll begin claiming Social Security benefits, and think hard about withdrawal rates.

But many such painstaking retirement planners don’t give another major variable more than the periodic anxious thought: how to pay for long-term care. And is it any wonder so many people are in denial? For one thing, it’s a flip of the coin as to whether you’ll need long-term care: 52% of people turning 65 are expected to have a long-term care need during their lifetimes, and another 48% will not. The prospect of needing long-term care is inherently unpleasant, and that care can also be ruinously expensive, running upward of $100,000 per year in urban areas.
(more…)

12 Attorneys General File Lawsuit Over Association Health Plans

Tuesday, August 21st, 2018

Health Payer Intelligence reports:

A dozen state attorneys general are suing the Department of Labor (DOL) over the expansion of association health plan (AHPs).

In the suit, which was filed in the DC District Court of Appeals, the officials argue that broad availability of AHPs violates the consumer protections included in the Affordable Care Act.

The DOL’s final rule allows contractors and individuals in similar industries to enroll in AHPs that operate outside of the ACA’s enforceable policies.

(more…)

The ‘Affordable’ Care Act, another Christmas bah-humbug

Monday, January 11th, 2016

The Hill Reports:

“‘Tis the season for giving—and for the Affordable Care Act, it’s become the season for giving bad news. For the third year in a row, open enrollment has given millions of hardworking Americans news that their health insurance will have higher premiums, fewer choices, and more out-of-pocket costs—if their insurance will even exist after the holidays are over.

But this sad reality won’t be found in the flowery rhetoric of the law’s supporters. From President Obama to Hillary Clinton to many candidates for both the U.S. Senate and House, politicians are claiming the law is a smashing success. This might make for a good stump speech for the base, but these claims carry huge political risks: They sound woefully disconnected from the struggles millions of Americans are suffering under this law.

(more…)

​What you need to know about Obamacare tax forms

Monday, January 11th, 2016

CBS Rports:

Tax filing is getting even more complicated. The Affordable Care Act (ACA) requires employers and health insurance companies to give the IRS information about your income and health insurance coverage. So, the IRS has created three new tax forms, and you’ll need them to prove you have health insurance and, therefore, aren’t required to pay any tax penalties. You’ll also need them to make a claim for tax credits you’re entitled to. (more…)

Health Law Tricky for Parents of Medicaid Kids

Tuesday, January 28th, 2014

ABC News reports:

“Families shopping for health insurance through the new federal marketplace are running into trouble getting everyone covered when children are eligible for Medicaid but their parents are not.

Children who qualify for Medicaid, the safety-net program for the poor and disabled, can’t be included on subsidized family plans purchased through the federal marketplace, a fact that is taking many parents by surprise and leaving some kids stuck without coverage.

(more…)

Questions and Answers on the Individual Shared Responsibility Provision

Tuesday, September 3rd, 2013

The IRS reports:

“Basic Information

1. What is the individual shared responsibility provision?

Under the Affordable Care Act, the federal government, state governments, insurers, employers and individuals are given shared responsibility to reform and improve the availability, quality and affordability of health insurance coverage in the United States. Starting in 2014, the individual shared responsibility provision calls for each individual to have minimum essential health coverage (known as minimum essential coverage) for each month, qualify for an exemption, or make a payment when filing his or her federal income tax return.

(more…)

Out-Of-Pocket Costs For Drugs Will Increase Under ACA

Friday, July 19th, 2013

Insurance News Net reports:

“A new analysis from HealthPocket of early health insurance rate filings finds that consumers who choose the lower cost Bronze Plans and Silver Plans under the Affordable Care Act (aka “Obamacare”) will likely be paying more for prescription drugs than they do now.

Compared to comparable existing individual and family plan copays and coinsurance costs, consumers with prescription drug coverage can expect to pay an average of 34 percent more out of pocket for these medications if trends continue.

(more…)

Some Families To Be Priced Out Of Health Overhaul

Thursday, February 14th, 2013

Insurance News Net reports:

“Some families could get priced out of health insurance due to what’s being called a glitch in President Barack Obama’s overhaul law.

IRS regulations issued Wednesday disappointed liberal backers of the president’s plan, who had hoped for a fix.

Starting in January, the law will provide millions of uninsured working families with subsidies to buy private insurance. But it also says that in some cases families with job-based coverage can’t get those subsidies.

The problem is the way the law defined affordable.

What counts is self-only coverage offered to the individual worker, not his or her family. Family coverage typically costs much more. So if the employer isn’t willing to chip in for premiums, some families will be out of luck.

And the health care overhaul won’t help them either.”

Newsletter Signup

Free Consultation
image_questions
Change Your Broker
 
x x x