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Posts Tagged ‘IRS’
Thursday, February 1st, 2018
Consumer Reports reports:
“The e-commerce giant becomes the latest corporation trying to tackle the high cost of employee medical care
(more…)
Tags: employees, Employers, Harvard, health, health insurance, Health insurance exchange, IRS, Massachusetts, Village of Lakewood, West Dundee, Westchester, Wheaton, Wheeling, Wicker Park, Will, Will County, Wilmette, Winfield, Wood Dale, Woodridge, Woodstock
Posted in Health Insurance News | Comments Off on Amazon Takes Aim at Disrupting the Healthcare Industry
Friday, August 18th, 2017
Yahoo Beauty reports:
“If you’re looking forward to getting Medicare because you think this health insurance for seniors will provide comprehensive coverage, you may end up disappointed. Studies have shown seniors with high-prescription drug needs could incur as much as $350,000 in out-of-pocket spending on healthcare during retirement, even with both Medicare and a supplementary Medigap policy.
(more…)
Tags: Inverness, IRS, Itasca, Johnsburg, Kane County, Kaneville, Kendall, Kendall County, long-term, Medicaid, Medicare Advantage, Medigap, premiums, seniors, SHOP
Posted in Health Care .gov, Medicare | Comments Off on 7 Healthcare Expenses Medicare Won’t Pay For — The Motley Fool
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…)
Tags: 2015, 2016, ACA, ACA requirements, affordable care, Affordable Care Act, affordable health insurance, Albany Park, Andersonville, barack obama, Barrington, Bartlett, Broker, Bucktown, buffalo grove, buy health insurance, buying insurance, care reform legislation, Carol Stream, Carpentersville, Cary, Changeing Health Care, Chicago, Chicagoland, Contact Us, Cook, Cook County, Costs, Deerfield, DeKalb, DeKalb County, Dundee, DuPage, DuPage County, East Dundee, Elgin, Employers, enroll, enrollment, Fox Valley, Geneva, Glendale Heights, Government, government regulations, health, health care benefits, health care costs, health care law, health care reform, health care system, health exemption, health insurance costs, health insurance coverage, Health insurance exchange, health insurance marketplace, health insurance premiums, health insurance reform, Health Marketplace, health plan, health programs, health reform, healthcare reform, healthcare.gov, Hinsdale, Huntley, IL, Illinois, Illinois Department of Insurance, Illinois health insurance exchange, individual, individual health insurance, individual insurance, Individual Mandate, Individual Shared Responsibility, Individuals, insurance, Insurance benefit consultant, insurance broker, insurance industry, insurance news, insurance plan, Insurance Reform, IRS, Johnsburg, Kane, Kane County, Kendall, Kendall County, Key Findings ACA, Lake, Lake County, Lake in the Hills, Lakewood, Logan Square, Long Grove, McHenery, McHenry, McHenry County, Minimum Essential Coverage, Mount Prospect, Naperville, Navigator, new health care, New health insurance law ACA, North Aurora, North West Suburbs, Northern Illinois, Northwest Suburbs, Obama care, ObamaCare, Obamacare regulation, open enrollment, Palatine, Penalty, PPO, pre existing conditions, Richmond, Riverwoods, Rolling Meadows, Saint Charles, Schaumburg, self-insurance, single payer health care system, South Barrington, special enrollment, Streamwood, Sugar Grove, Tax, taxpayer dollars, the affordable care act, timeline, UHC, United Health Care, United Healthcare, UnitedHealthcare, Villa Park, Warrenville, Wasco, Wayne, West Chicago, Wheaton, Wicker Park, Will, Will County, Wood Dale, Woodstock
Posted in Individual Health Insurance, Open Enrollment | Comments Off on IRS Grants Extension for 6055 and 6056 Reporting
Tuesday, January 26th, 2016
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.
 The 1095-A form exchange customers will receive. Others will get different versions, depending on the source of their health care coverage. Known as Form 1095, it’s part of the way the federal government verifies whether people are complying with the mandate that requires nearly all U.S. residents to have health care coverage. This year is the first time most people will be getting those forms, and officials are anticipating a fair amount of confusion. In part, that’s because what you need to do with that form depends on the type of coverage you had.
Here’s what you need to know. (more…)
Tags: 2015, 2016, ACA, ACA requirements, advice, affordable care, Affordable Care Act, affordable health insurance, Albany Park, Alden, Algonquin, Andersonville, Bannockburn, barack obama, Barrington, Barrington Hills, Bartlett, Boulder Hill, Bucktown, budget cuts, buffalo grove, Bull Valley, buy health insurance, buying insurance, care reform legislation, Carpentersville, Cary, Changeing Health Care, Chicago, Chicagoland, Cook, Cook County, Costs, coverage plan, Crystal Lake, Darien, Deer Park, Deerfield, DeKalb, DeKalb County, Des Plaines, Downers Grove, DuPage, DuPage County, East Dundee, Elburn, Elmhurst, employer health insurance, enroll, enrollment, exchange, federal medicaid, Fox River Grove, Fox Valley, Geneva, Glen Ellyn, Government, government regulations, Hampshire, Harvard, health, health care benefits, health care costs, health care law, health care reform, health care system, health exemption, health insurance, health insurance costs, health insurance coverage, Health insurance exchange, health insurance marketplace, health insurance premiums, health insurance reform, Health Marketplace, health plan, health programs, health reform, health savings account, healthcare reform, healthcare.gov, Highland Park, Huntley, IL, Illinois, Illinois health insurance exchange, individual, individual health insurance, individual insurance, Individual Mandate, insurance, Insurance benefit consultant, insurance industry, insurance news, insurance plan, Insurance Reform, IRS, Kane, Kane County, Kendall, Kendall County, Lake County, Lakewood, Lincolnwood, Lombard, Maywood, McCullen Lake, McHenery, McHenry, McHenry County, Medicaid, Medicare, Montgomery, Naperville, new health care, New health insurance law ACA, North Aurora, North West Suburbs, Northern Illinois, Northlake, Northwest Suburbs, Oak Park, Obama care, ObamaCare, Obamacare regulation, open enrollment, Palatine, Park Ridge, Penalty, Pingree Grove, Prairie Grove, premiums, public exchange, Ringwood, Rolling Meadows, Roselle, Saint Charles, Schaumburg, sign up, Skokie, South Barrington, special enrollment, St. Charles, state health insurance, state legislatures, Stone Park, Supreme Court, supreme court decisions, Tax, taxpayer dollars, Tower Lakes, Villa Park, Wasco, West Chicago, West Dundee, Westchester, Wheaton, Wicker Park, Will, Will County, Wood Dale, Woodstock
Posted in Affordable Care Act, Health Insurance News, Heath Care Costs | Comments Off on Coming soon to your mailbox: An Obamacare tax form
Monday, January 11th, 2016
Crain’s Chicago Business Reports:
 “Aetna is returning to sell plans on the Illinois health insurance exchange after taking a year off.
Also returning are giants Blue Cross & Blue Shield of Illinois, the dominant insurer in the state; UnitedHealthcare, which is affiliated with Minnetonka, Minn.-based UnitedHealth Group, and Chicago-based Land of Lincoln Health.
Mostly familiar faces are returning to the exchange for enrollment that begins Nov. 1, according to the Illinois Department of Insurance. Other companies that received federal approval to sell plans include:
—Health Alliance, based in downstate Urbana.
—Celtic Insurance, which is part of St. Louis-based Centene Corp.
—Coventry Health, part of Hartford, Conn.-based Aetna.
—Harken Health, of which UnitedHealth Group is an investor.
—Humana, based in Louisville, Ky.
(more…)
Tags: 2015, 2016, ACA, ACA requirements, Advocate Heath Care, affordable care, Affordable Care Act, affordable health insurance, Albany Park, Algonquin, Andersonville, Atena, aurora, Barrington, Bartlett, BCBS, BCBSIL, Blue Cross, Blue Cross and Blue Shield, Blue Cross and Blue Shield of Illinois, Bucktown, buffalo grove, Burlington, buy health insurance, buying insurance, care reform legislation, Carol Stream, Carpentersville, Chicago, Chicagoland, Cook, Cook County, coverage plan, Crystal Lake, DeKalb, DeKalb County, departments of health and human services, Dundee, DuPage County, Elgin, employer health insurance, enrollment, exchange, Forest Park, Fox River Grove, Fox Valley, Glenview, government regulations, group health plan, Harwood Heights, Health and Human Services, health care benefits, health care costs, health care law, health care reform, health care system, health exemption, health insurance, health insurance costs, health insurance coverage, Health insurance exchange, health insurance marketplace, health insurance premiums, health insurance reform, health plan, health savings account, healthcare reform, healthcare.gov, Humana, Huntley, IL, Illinois, Illinois Department of Insurance, Illinois health insurance exchange, Insurance benefit consultant, insurance broker, insurance industry, IRS, Kane, Kane County, Kendall, Lake County, Lake in the Hills, Lake View, Long Grove, Marengo, Marketplace, McCullen Lake, McHenry, McHenry County, Naperville, North Barrington, North West Suburbs, Northern Illinois, Northwest Suburbs, Oakwood Hills, Obama care, ObamaCare, Obamacare regulation, Palatine, Park Ridge, Pingree Grove, Prairie Grove, Ringwood, Rolling Meadows, Saint Charles, Schaumburg, Skokie, small businesses, South Barrington, South Elgin, the affordable care act, United Health Care, United Healthcare, UnitedHealthcare, Village of Lakewood, Wasco, West Chicago, West Dundee, Wicker Park, Will, Will County, Wood Dale, Woodridge, Woodstock
Posted in Affordable Care Act, Health Insurance News, Small Business | Comments Off on Blue Cross, UnitedHealthcare return to Illinois Obamacare exchange
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…)
Tags: ACA, ACA requirements, Advocate Heath Care, affordable care, Affordable Care Act, affordable health insurance, Albany Park, Algonquin, barack obama, Barrington, Barrington Hills, Bartlett, BCBS, BCBSIL, Blue Cross and Blue Shield, Bucktown, budget cuts, buffalo grove, buy health insurance, buying insurance, care reform legislation, Carol Stream, Carpentersville, Changeing Health Care, Chicago, Chicagoland, Cook, Cook County, Costs, coverage plan, Crystal Lake, deductibles, DeKalb, DeKalb County, departments of health and human services, East Dundee, Elgin, employer health insurance, enroll, enrollment, exchange, family plan, Forest Park, Fox River Grove, Geneva, Government, government regulations, health, health care benefits, health care costs, health care law, health care reform, health care system, health exemption, health insurance, health insurance costs, health insurance coverage, Health insurance exchange, health insurance marketplace, health insurance premiums, health insurance reform, Health Marketplace, health programs, health reform, healthcare reform, healthcare.gov, Huntley, IL, Illinois, Illinois Department of Insurance, Illinois health insurance exchange, insurance news, insurance plan, Insurance Reform, IRS, Kane, Kane County, Kendall County, Lake County, McHenry, McHenry County, Midterm Election 2010, Mr. Obama, new health care, New health insurance law ACA, North West Suburbs, Obama care, ObamaCare, Obamacare regulation, open enrollment, premiums, Schaumburg, state health insurance, Streamwood, taxpayer dollars, the affordable care act, U.S. Senate, West Chicago, West Dundee, Wicker Park, Will County, Woodstock
Posted in Affordable Care Act, Health Insurance News, Health Reform | Comments Off on The ‘Affordable’ Care Act, another Christmas bah-humbug
Monday, January 11th, 2016
The New York Times Reports:
“Despite a 29 percent increase in the number of people enrolled in Obamacare, plenty of healthy holdouts remain, and their resistance helps explain why insurers are worried about the financial viability of the exchanges over time.
The New York Times
WASHINGTON —
Clint Murphy let the deadline for getting health insurance by the new year pass without a second thought.
(more…)
Tags: ACA, ACA requirements, affordable care, Affordable Care Act, affordable health insurance, barack obama, Blue Cross and Blue Shield, Blue Cross and Blue Shield of Illinois, buy health insurance, buying insurance, care reform legislation, Chicago, Chicagoland, Cook, Cook County, Costs, coverage plan, deductibles, employer health insurance, enrollment, exchange, Fox Valley, health care benefits, health care costs, health care reform, health care system, health insurance, health insurance costs, health insurance coverage, health insurance marketplace, health insurance premiums, health plan, healthcare.gov, IL, IRS, Kane, Kane County, Lake, Lake County, Lake in the Hills, McHenery, medical expenses, Medicare, New health insurance law ACA, Obama care, ObamaCare, Obamacare regulation, open enrollment, Penalty, premiums, state health insurance, subsidies, Tax, the affordable care act, Will County
Posted in Affordable Care Act, Family Health Insurance | Comments Off on Millions choose IRS fines as more affordable than health coverage
Thursday, June 25th, 2015
Benefits Pro reports:
“The IRS said it is raising the maximum allowable contribution to a health savings account by $100 in 2016 — but only for families.
The IRS quietly announced last week that the maximum contribution that can be made next year to an HSA linked to a high-deductible plan will be $6,750 for employees with family coverage, up from $6,650 in 2015. The maximum contribution for those with single coverage, however, will remain unchanged at $3,350.
(more…)
Tags: Atena, Bartlett, Burlington, Campton Hills, Carpentersville, Chicago, Chicagoland, deductibles, employees, health savings account, HSA, individual, Individuals, IRS
Posted in Heath Care Costs | Comments Off on IRS sets 2016 HSA limits
Monday, May 11th, 2015
HealthCare.gov reports:
“The Employer Shared Responsibility Payment applies to some businesses with 50 or more full-time employees who don’t offer insurance, or whose coverage doesn’t meet certain minimum standards.
Regulations announced in 2014 have updated the following:
- Which employers must make the payment
- Which years some employers must begin making the payment
- Other conditions about the payment
The Internal Revenue Service offers detailed questions and answers about the Employer Shared Responsibility Payment.
The Treasury Department has a fact sheet summarizing recent updates on the Employer Shared Responsibility Payment.
No employer with fewer than 50 full-time employees is subject to the Employer Shared Responsibility Payment in any year.
Tags: Chicago, Chicagoland, Cook, Cook County, employees, Employers, healthcare.gov, insurance, IRS, Northern Illinois, Oak Park, Oakbrook Terrace, Oakwood Hills, ObamaCare, Obamacare regulation
Posted in Affordable Care Act, Health Care .gov | Comments Off on The Employer Shared Responsibility Payment
Tuesday, May 5th, 2015
Indiana Economic Digest reports:
“We’ve found yet another reason to mistrust a government bureaucracy that takes money citizens earned and treats citizens like serfs. The government class often act like the put upon factory foremen, whether it is making the sick wait in a line too many don’t survive trying see a physician at a Veterans Hospital or forcing the poor to jump through innumerable hoops to obtain Medicaid while hoping a loophole can be found to disqualify a person obviously in need. This last cultural trend became widespread in Indiana during Mitch Daniels’ time as governor.
(more…)
Tags: Government, Hampshire, Hanover Park, Harvard, Harwood Heights, health, health insurance, healthcare.gov, Hebron, IRS, MAGI, Marketplace, Medicaid, medicaid coverage, Modified Adjusted Gross Income, Tax, Union
Posted in Health Care .gov, Insurance Reform | Comments Off on Making government our last resort
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