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Posts Tagged ‘Tower Lakes’

Trump administration releases association health plan rule

Friday, February 2nd, 2018

Axios reports:

“The Department of Health and Human Services has posted its long-awaited proposed rule to make it easier to form “association health plans,” aimed at groups of workers who team up to get better deals on health insurance. Among other things, the rule would encourage these kinds of plans by removing the requirement that says associations have to have a purpose besides health insurance.

The bottom line: The rule says its goal is to help small businesses buy health coverage more easily, but the bigger question is whether they’d pull healthy people out of the Affordable Care Act exchanges.”

IRS may never recoup $350 million in Obamacare tax credit overpayments

Wednesday, September 16th, 2015

The Washington Times reports:

“A quirk in the law means the IRS will never be able to recoup nearly $350 million in overpayments on Obamacare tax credits last year, and one top senator says he is worried that fraudsters will exploit the loophole to wring more cash out of the government.

Most customers in the health care law’s insurance exchanges get taxpayer-funded subsidies to help cover their premiums, and the amount is based on their expected earnings. At the end of the year, they are supposed to square their anticipated earnings with what they actually made. Because most exchange members received higher incomes — through promotions or better jobs — they have to repay the IRS.

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Individual mandate raises taxing questions

Monday, January 12th, 2015

BenefitsPro reports:

“2015 marks the first year that taxpayers will have to prove they have health insurance or, if they don’t, they’ll have to pay a penalty. But how is the proof presented?

About half the adult population might not know the answer to this, according to a Harris Poll commissioned by Intuit TurboTax. The TurboTax folks had Harris poll more than 2,000 adults, and 48 percent didn’t know they’ll be required to declare their health coverage status on their 2014 tax return.

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CBO: Cost of Obamacare Subsidy Will Increase 8-Fold in 10 Years

Friday, October 3rd, 2014

Fox News reports:

“The cost of the Obamacare subsidy that the U.S. Treasury will pay on behalf of people who earn under 400 percent of the federal poverty level and who buy a government-approved health-care plan on a government-run health-insurance exchange will increase by approximately 8-fold in its first ten years of operation, according to the latest budget estimate from the Congressional Budget Office.

Medicaid spending will double in the first ten years of full implementation of Obamacare, according to the CBO estimates.

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UnitedHealthcare vying for a slice of Obamacare pie?

Thursday, June 12th, 2014

Crain’s Chicago Healthcare Daily reports:

“If UnitedHealthcare of Illinois Inc. starts selling plans on the state’s health insurance exchange this fall — as reported today — the insurer most likely won’t make a large dent in Blue Cross & Blue Shield of Illinois’ market share.

Still, there are chances for the carrier, an arm of Minneapolis-based UnitedHealth Group Inc., to make inroads in the state.

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Self Employed? What You Need to Know About Individual Shared Responsibility Starting in January 2014

Tuesday, September 3rd, 2013

US Small Business Administration reports:

“Under the Affordable Care Act, the government, insurers, employers, and individuals share in the responsibility to improve the availability, quality, and affordability of health insurance coverage.  The individual shared responsibility provision is a key part of helping to deliver the law’s consumer protections at an affordable cost. It makes these protections possible by ensuring that individuals do not just wait to purchase insurance when they are sick and drop coverage when they are well, which drives up premiums for everyone.

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Health insurance exchanges: Be ready to be overwhelmed

Tuesday, April 2nd, 2013

NBC News reports:

“Twenty-four states now have been approved to set up their own health insurance exchanges, just seven months before people can start to enroll. That leaves the federal government to run 26 exchanges according to its own rules. No one’s quite sure yet what they will look like, but it’s becoming increasingly clear that many of them, at least, will provide an overwhelming range of choices for millions of people who may never have had to choose health insurance before.

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