“Starting in 2019, you’ll no longer owe a fine to the IRS if you don’t have qualifying health insurance coverage. While the Affordable Care Act, or Obamacare, imposed a tax penalty for those who opted out of coverage, the mandate was eliminated with the tax reform law passed in late 2017.
Posts Tagged ‘Plato Center’
Why You Still Absolutely Need Health Insurance Despite the Death of the Penalty
Monday, May 20th, 2019Illinois insurers seek premium increases of up to 45%
Tuesday, August 2nd, 2016The Chicago Sun Times reports:
“Health insurance premiums for Illinois residents who buy coverage through the Affordable Care Act’s marketplace could increase by as much as 45 percent according to proposals submitted by insurers and made public Monday.
The leading insurer on Illinois’ exchange, Blue Cross Blue Shield, is proposing increases for 2017 ranging from 23 percent to 45 percent for individual health care plans, according to proposals posted by Healthcare.gov. Another insurer, Coventry Health Care of Illinois, proposed rate increases as high as 21 percent.
Obamacare-Created Insurer Goes Under, Is Taken Over By The State
Tuesday, January 13th, 2015“An Obamacare-created and taxpayer-funded insurance company in Iowa has been taken over by the state due to a financial crisis.
CoOportunity Health is Iowa’s insurance cooperative — a nonprofit insurance company created by the Affordable Care Act to supposedly undercut the large, for-profit insurers that Democrats castigated as “greedy” and “evil” during the debate over health care reform.
First Steps to Take With IRS Draft ACA Reporting Instructions
Wednesday, September 10th, 2014Health Insurance Exchange reports:
“The Internal Revenue Service late last week released a set of long-awaited draft instructions for the forms employers will need to file to comply with the Affordable Care Act’s employer mandate, providing an opportunity for benefit advisers and their employer clients to begin preparing for the new reporting requirements set to begin in 2015.
The draft instructions are available for Form 1095-A, “Health Insurance Marketplace Statement;” Forms 1094-B and 1095-B, “Transmittal of Health Coverage Information Returns” and “Health Coverage;” and Forms 1094-C and 1095-C, “Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns” and Employer-Provided Health Insurance Offer and Coverage.”
High Health Plan Deductibles Weigh Down More Employees
Wednesday, September 3rd, 2014“Anita Maina was working on an arts and crafts project she found on Pinterest — creating a table out of wood and cork — when she ripped off a fingernail while removing staples from a piece of wood.
“It is one of those things that really hurt, and I thought I should go to urgent care,” said Ms. Maina, 27.
But she ultimately skipped the visit since she had not met the $6,000 deductible on her health plan, and she knew she probably did not have much left in her health savings account, a type of tax-advantaged savings vehicle that is often used with high-deductible plans to help defray out-of-pocket costs.
Ms. Maina, an associate in a health and human services consulting agency, said her employer added the high-deductible plan earlier this year; though her monthly premiums are only $34, these plans require employees to pay for a greater share of their medical expenses upfront, before the plan starts making payments.
What to consider before deciding to go without health insurance
Tuesday, February 18th, 2014The Los Angeles Times reports:
“Some people may elect to forgo coverage if they believe the cost is too high. But health experts say they may not be aware of all the risks and benefits involved.
Sarah Giron wants health insurance, but she says it’s just not in her budget. “It’s so expensive,” says the 34-year-old stay-at-home mom in Riverside County.
Five Things CEOs Should Know About Health Care Exchanges
Friday, February 15th, 2013Forbes reports:
“Now that the 2012 presidential election is in our rear-view mirror, the Affordable Care Act (aka “Obamacare”) looks like it’s here to stay. With it comes an interesting decision for chief executive officers to make by 2014: Should your company keep its current health care plan, or opt out and allow employees to enter into consumer-directed health care exchanges?
Certainly, there is much at stake for C-level executives when it comes to health care reform and health care coverage in general. According to a 2012 study from Towers Watson, in 2013 the average cost of health benefits per employee will stand at $11,507, a 5% increase from 2012.
Tammy Duckworth Says She’s No Yes-Woman for Obama
Thursday, September 20th, 2012“CHARLOTTE, N.C. — Tammy Duckworth helped kick off the president’s nominating convention with a bang, but that doesn’t mean she’s a yes-woman for his policies, she says. In an interview with U.S. News, the Illinois congressional candidate and Iraq War veteran expressed concern with one of the signature initiatives of President Obama’s first term.
“I’m very concerned about what healthcare reform is going to do to small businesses,” she says, pointing to the small businesses in her district that could take “quite a hit” when reform is fully implemented. The law requires that all businesses with over 50 employees provide health insurance or face steep fines.
