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Posts Tagged ‘self-insurance’
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 Bloomberg Business:
“Humana Inc. is the latest insurer to run into trouble in Obamacare’s individual health-insurance markets.
The health insurer said that it probably won’t collect enough money to cover costs for some customers who bought individual plans, and will set aside what’s known as a premium deficiency reserve. The shortfall is for 2016 plans that comply with new rules under the Affordable Care Act, Louisville, Kentucky-based Humana said Friday.
UnitedHealth Group Inc., the biggest U.S. health insurer, said in November that it might stop participating in the Obamacare next year after taking losses. One analyst predicted that Humana would follow suit.
(more…)
Tags: 2015, 2016, ACA, ACA requirements, Advocate Heath Care, affordable care, Affordable Care Act, affordable health insurance, Albany Park, Algonquin, Andersonville, Arlington Heights, Atena, aurora, barack obama, Barrington Hills, Bartlett, Batavia, BCBS, BCBSIL, Bucktown, budget cuts, buffalo grove, Bull Valley, buy health insurance, buying insurance, California healthline, cancer coverage, care reform legislation, Carol Stream, Carpentersville, Changeing Health Care, Chicago, Chicagoland, Cicero, College Grads, commerce clause of the constitution, Commonwealth Care Health Insurance, Cook, Cook County, Costs, coverage plan, Crystal Lake, Deerfield, DeKalb, DeKalb County, Des Plaines, Downers Grove, Dundee, DuPage, DuPage County, Elburn, enroll, enrollment, Fox River Grove, Fox Valley, Geneva, Gilberts, Glen Ellyn, government regulations, Hampshire, Harwood Heights, 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, Herbron, Highland Park, Humana, Huntley, IL, Illinois, Illinois health insurance exchange, individual, individual health insurance, individual insurance, Individual Mandate, Individual Shared Responsibility, Individuals, Insurance benefit consultant, insurance broker, insurance industry, insurance news, insurance plan, Insurance Reform, Itasca, Kane, Kane County, Kendall, Kendall County, Lake County, Lake in the Hills, Lake View, Lakewood, Lincoln Park, Maple Park, Marengo, Marketplace, McCullen Lake, McHenery, McHenry, McHenry County, Naperville, new health care, New health insurance law ACA, Niles, North Aurora, North Barrington, North West Suburbs, Northwest Suburbs, Obama care, ObamaCare, Obamacare regulation, open enrollment, Palatine, Park Ridge, Producer, Riverwoods, Rolling Meadows, Schaumburg, self-insurance, single payer health care system, South Barrington, special enrollment, state health insurance, Streamwood, Sugar Grove, the affordable care act, Tower Lakes, Village of Lakewood, Warrenville, Wasco, West Chicago, Wicker Park, Wood Dale, young adults
Posted in Affordable Care Act, Health Insurance News, Individual Health Insurance | Comments Off on Humana to Record 2016 Obamacare Shortfall, Membership Drops
Monday, January 11th, 2016
California Healthline Reports:
“On Friday, CMS released a proposed rule that would require minimum network standards for health plans sold through the federal exchange in 2017, Modern Healthcare reports.
Proposed Rule’s Network Standards
Under the rule, states would be required to implement CMS-approved quantitative measures to ensure that individuals with exchange plans have adequate access to health care providers. States could either:
- Adopt default network adequacy standards set by CMS; or
- Draft their own network adequacy standards and submit them for HHS approval.
Such standards could measure a plan’s network adequacy based on policyholders’ maximum travel distances and times to access providers. According to CMS, minimum adequacy standards for the plans will be determined at a later date. HHS would then notify insurers of the standards in each state (Herman/Dickson, Modern Healthcare, 11/20). (more…)
Tags: ACA, ACA requirements, Advisor, affordable care, Affordable Care Act, affordable health insurance, Albany Park, Algonquin, Andersonville, Arlington Heights, aurora, Barrington, Barrington Hills, Bartlett, BCBS, BCBSIL, Blue Cross and Blue Shield, Blue Cross and Blue Shield of Illinois, bronze plan, Bucktown, buy health insurance, buying insurance, California healthline, Carol Stream, Carpentersville, Changeing Health Care, Chicago, Chicagoland, Cicero, Cook, Cook County, Costs, coverage plan, Crystal Lake, Darien, DeKalb, DeKalb County, departments of health and human services, Des Plaines, Desplaines, Downers Grove, DuPage County, East Dundee, employer health insurance, enroll, enrollment, exchange, Forest Park, Fox River Grove, Franklin Park, Glen Ellyn, Glendale Heights, government regulations, Hampshire, 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 premiums, health insurance reform, health plan, health programs, health savings account, healthcare reform, healthcare.gov, Hoffman Estates, Huntley, IL, individual, Individuals, insurance broker, insurance industry, insurance news, insurance plan, Insurance Reform, Kane, Kane County, Kendall County, Lake County, Lake View, Lakewood, Lincoln Park, Long Grove, Marengo, McHenery, McHenry, McHenry County, Medicare, Montgomery, Naperville, Navigator, new health care, New health insurance law ACA, Niles, North Barrington, North West Suburbs, Northern Illinois, Northlake, Northwest Suburbs, notices, Oakwood Hills, Obama care, ObamaCare, Obamacare regulation, open enrollment, Palatine, Park Ridge, Prairie Grove, Roselle, Schaumburg, Schiller Park, Self Employed, self-insurance, SHOP, Skokie, small businesses, Spring Grove, St. Charles, state health insurance, state legislatures, Streamwood, the affordable care act, Tower Lakes, Village of Lakewood, Wasco, West Chicago, Wheeling, Wicker Park, Winfield, Woodstock
Posted in Affordable Care Act, Health Insurance News, Open Enrollment | Comments Off on CMS Proposes Health Insurance Exchange Changes for 2017
Monday, August 12th, 2013
Benefits Pro reports:
“Happy Jack Adventures is a successful small business, much like the many others the federal government hopes will line up to buy health insurance for their workers once the Patient Protection and Affordable Care Act fully kicks in.
Yet fearful of sharp premium hikes and with a mostly young, seemingly healthy workforce of 50, Jack McCormick, the founder and CEO of the Seattle, Wash.-based adventure tourism company, has something else in mind.
McCormick believes his firm is fiscally sound enough to bear the risk of self-insurance and is looking to make the switch.
(more…)
Tags: ACA requirements, Carol Stream, Carpentersville, Cary, Chicago, Chicagoland, exchange, health insurance, ObamaCare, Patient Protection, self-insurance, small businesses
Posted in Insurance Reform | Comments Off on Self-insurance: A threat to Obamacare?
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