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Posts Tagged ‘Villa Park’

Obamacare Encounters Another Bump in the Road

Thursday, April 28th, 2016

According to News Max Finance:

” Well, the hammer has fallen: The largest health insurer in the U.S. has started pulling out of select Obamacare exchanges.

Five months ago UnitedHealth, which had been singing sunny songs to investors about its bright future on the exchanges, abruptly began crooning the blues. In an earnings call barely a month after executives assured investors that all was going swimmingly, they confessed that they were losing a ton of money on their Obamacare policies and described a pattern that sounded as if consumers were gaming the system — signing up for a few months, using a ton of services, and then canceling their policies. If this continued, they said, they would have no choice but to pull out of the exchange business. (more…)

IRS Grants Extension for 6055 and 6056 Reporting

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…)

State health insurance exchange scuttled in Illinois

Monday, January 12th, 2015

The Quad-City Times reports:

“An 11th-hour bid to establish a state-based health insurance exchange fell short Wednesday when the Illinois House adjourned for the remainder of the year without bringing the matter for a vote.

Against the backdrop of a federal deadline to take action and the looming end of single-party control of state government, the sponsor of the measure said she couldn’t round up enough votes to get the measure to outgoing Democratic Gov. Pat Quinn’s desk.

(more…)

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.

(more…)

Even the labor unions are souring on Obamacare

Tuesday, July 1st, 2014

The Washington Examiner reports:

“President Obama’s health reform law may have claimed a new victim — organized labor.

Thanks to Obamacare, labor unions are facing higher health insurance costs — as well as steeper out-of-pocket bills and wage cuts.

Consequently, these erstwhile allies of the president appear to be signing on with the majority of Americans who oppose his signature law.

(more…)

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.

(more…)

Our View: Examining health care

Tuesday, July 23rd, 2013

Northwest Herald reports:

“The new marketplace opening in October will sell only one type of item – but it’s something that never has been presented in this manner before.

Oct. 1 is when open enrollment in the Health Insurance Marketplace, or the Exchange, starts in Illinois. It’s part of the federal Affordable Care Act, which, among other things, mandates that all Americans have health insurance.

The Exchange is an online portal that will serve as a central location for residents and small businesses to compare and choose from dozens of insurance plans. Six providers have proposed 165 plans, and coverage kicks in Jan. 1.

(more…)

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