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Posts Tagged ‘Northwest Suburbs’

Here’s What Medicare Part B Costs and Covers in 2016

Tuesday, January 26th, 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 plays a key role in the everyday aspects of healthcare, and below, you’ll learn more of the specifics of how much Part B costs and what it covers.

What Medicare Part B costs
Medicare participants pay a monthly premium to get Part B coverage, but one of the more confusing things about the program in 2016 is that different participants pay different amounts. The standard charge for most new participants this year is $121.80 per month. But because of a law that ties Medicare increases to cost-of-living adjustments for Social Security, the majority of existing participants will pay the $104.90 monthly premium they paid in 2015. (more…)

With Michigan Closure, More Than Half of Obamacare CO-OPs Have Now Failed

Monday, January 11th, 2016

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 than $1.23 billion. This Thursday, the Subcommittee on Oversight and Investigations will hold a hearing on “Examining the Costly Failures of Obamacare’s CO-OP Insurance Loans.” (more…)

Blue Cross, Advocate team up on new health insurance plan

Monday, January 11th, 2016

Crains Chicago Business Reports:

“Blue Cross & Blue Shield of Illinois and Advocate Health Care are teaming up to offer a health plan that will be one of the cheapest options the insurer offers on and off the Obamacare exchange.
The plan, called BlueCare Direct, is a marriage of two giants. Blue Cross is the largest health insurer in the state, and Downers Grove-based Advocate is the largest health care system, with 12 hospitals and more than 4,000 doctors.

The BlueCare Direct network will include 250 of Advocate’s sites of care in Cook, DuPage, Lake, Kane and Will counties, including nine of its hospitals and a children’s hospital with two campuses. Enrollees can stick with their primary care doctor outside of Advocate’s system, but the plan will not cover it, said Dr. Lee Sacks, chief medical officer for Advocate.

(more…)

Health Care Penalties In 2015: How To Avoid Obamacare Fee And Report Insurance Status To IRS

Tuesday, January 13th, 2015

International Business Times reports:

“Millions of Americans who forwent buying health insurance in 2014 could face penalties in the coming year, the first such fees since open enrollment under the Affordable Care Act, or Obamacare, began in October 2013. The fine is part of President Barack Obama’s landmark law that requires all taxpayers to divulge their health insurance status to the Internal Revenue Service when filing their federal income tax returns. People who qualify for an exemption can avoid paying the penalty, but there is a little bit of extra paperwork involved.

(more…)

Employers not interested in PPACA exchanges

Friday, October 3rd, 2014

Benefits Pro reports:

“Nearly one in four employers say they may move their employees toprivate exchanges within the next few years, but virtually none of them are considering public exchanges under the Patient Protection and Affordable Care Act, new analysis from consulting firm Towers Watson finds.

The firm’s Health Care Changes Ahead survey of 349 HR professionals at mid- and-large-sized companies found that 24 percent of those surveyed believe a private exchange will be a viable alternative for providing employee health benefits by 2016.

(more…)

Why your 2015 health coverage will cost more

Wednesday, September 10th, 2014

Crain’s Chicago Business reports:

“A year after the nation embarked on the experiment in health care called Obamacare, rising drug prices threaten to jack up costs for employees and employers alike in 2015.

Health care plans spend the most on drugs for common chronic ailments such as diabetes, high blood pressure and high cholesterol. As those conditions become more prevalent, growing demand is enabling pharmaceutical companies to boost prices at rates well beyond overall inflation. For example, spending by health plans in the U.S. on Lantus, a long-acting form of insulin made by Sanofi SA, rocketed 27 percent in 2013, according to , a pharmacy benefits manager in St. Louis.

(more…)

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