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Posts Tagged ‘Westchester’

Can Health Savings Accounts Be a Bulwark Against Long-Term Care Costs?

Tuesday, August 21st, 2018

Morningstar reports:

“Many retirement accumulators take pains to dot the i’s and cross the t’s of their retirement plans. They noodle over their portfolios’ asset allocations, carefully calibrate when they’ll begin claiming Social Security benefits, and think hard about withdrawal rates.

But many such painstaking retirement planners don’t give another major variable more than the periodic anxious thought: how to pay for long-term care. And is it any wonder so many people are in denial? For one thing, it’s a flip of the coin as to whether you’ll need long-term care: 52% of people turning 65 are expected to have a long-term care need during their lifetimes, and another 48% will not. The prospect of needing long-term care is inherently unpleasant, and that care can also be ruinously expensive, running upward of $100,000 per year in urban areas.

Amazon Takes Aim at Disrupting the Healthcare Industry

Thursday, February 1st, 2018

Consumer Reports reports:

“The e-commerce giant becomes the latest corporation trying to tackle the high cost of employee medical care


Blue Cross warns GOP repeal bill ‘undermines’ pre-existing condition rules

Wednesday, October 11th, 2017

The Hill reports:

“The Blue Cross Blue Shield Association warned against a new GOP ObamaCare bill on Wednesday, saying it would “undermine” protections for pre-existing conditions.

“The bill contains provisions that would allow states to waive key consumer protections, as well as undermine safeguards for those with pre-existing medical conditions,” the association said in a statement.


High deductible plans have more people delaying treatment

Monday, January 12th, 2015

Yahoo Finance reports:

“As the cost of health care rises, more and more Americans in nearly every economic class are choosing to delay medical treatment because they can’t afford it.
A new Gallup poll released Friday found that about one in three Americans say they have put off treatment for themselves or a family member because of cost—the highest rate recorded in Gallup’s history.


Employer Shared Responsibility Payments and Reporting Requirements Under the Affordable Care Act: Code Sections 6055 and 6056

Friday, October 3rd, 2014

The National Law Review reports:

“There are two types of employer shared responsibility payments, also known as pay or play penalties, under the Affordable Care Act (ACA).  The first penalty under Internal Revenue Code (Code) Section 4980H(a) is the penalty for failure to offer health coverage.  Effective for plan years beginning on or after January 1, 2015, a $2,000 annual penalty applies to a large employer that fails to offer at least 70 percent of its full-time employees (FTEs) health coverage.  For plan years beginning on or after January 1, 2016, the $2,000 penalty applies to an employer that fails to offer health coverage to at least 95 percent of its FTEs.  The $2,000 penalty is assessed on a monthly basis, but applies to all of an employer’s FTEs, minus 30 FTEs (or minus 80 FTEs for 2015).


Quick Facts about Health Care Reform and Premiums

Tuesday, July 23rd, 2013

AHIP Coverage reports:

“Given recent attention on the impact of health care reform on health care costs and premiums, we wanted to share the following facts:

  • The impact the ACA will have on premiums will vary considerably depending on a where a person lives, what coverage they have today, and their age, gender, and health status.  Simply looking at averages does not explain what these changes will mean for a particular person in a particular state.  To learn more about the wide variation in impact, visit


Looking For Summer Reading? Try Healthcare Reform Regulations

Friday, July 19th, 2013

Forbs reports:

“The federal government apparently was concerned that Americans would not find anything to read this summer, and kindly dropped hundreds of pages of regulations related to healthcare, just in time for the beach.

The Centers for Medicare and Medicaid Services (CMS), one of the Big Three Departments that spend our federal tax dollars (numero uno, at 22 percent, being the Social Security Administration; number two is CMS at 21 percent; and number three, the Defense Department, at 19 percent)  released a phone-book sized volume of  regulations the day after Independence Day. The new regulations define how Medicaid and Children’s Health Insurance Program (CHIP) will change as a result of the Patient Protection and Affordable Care Act.


IRS issues final regulations on health care reform affordability

Wednesday, February 13th, 2013

Business Insurance reports:

“Employers will not be hit with a stiff financial penalty and employees will not be eligible for federal premium subsidies to buy coverage in public health insurance exchanges regardless of how much employers charge for family coverage, under final Internal Revenue Service regulations. These regulations affirm previously proposed rules involving a health care reform law “affordability” requirement. Under that Patient Protection and Affordable Care Act rule, if employer coverage is not affordable, employers are liable for a $3,000 penalty for each full-time employee whose required premium contribution does not meet the affordability test and receives a premium subsidy to buy coverage in an exchange. Previously proposed regulations said the requirement only applied to self-only coverage, with coverage considered unaffordable if employees’ premium contribution exceeds 9.5% of household income. At the time, though, regulators said they would examine whether the penalty also should apply if the premium they charge health plan enrollees for family coverage exceeds the 9.5% of income affordability test.But in the final regulations published Wednesday, the IRS made clear that the affordability test will only apply to self-only coverage. “These final regulations adopt the proposed rule without change,” the IRS said.Federal premium subsidies only will be available “if self-only premium exceed 9.5% of household income,” said Rich Stover, a principal with Buck Consultants L.L.C. in Secaucus, N.J.Despite pressure from interest groups seeking an expansion of eligibility for premium subsidies, regulators felt constrained by the statute, said Anne Waidmann, a director with PricewaterhouseCoopers L.L.P. in Washington.”

New health care markets on the way

Wednesday, February 13th, 2013

Yahoo News reports:

“Buying your own health insurance will never be the same.

This fall, new insurance markets called exchanges will open in each state, marking the long-awaited and much-debated debut of President Barack Obama’s health care overhaul.

The goal is quality coverage for millions of uninsured people in the United States. What the reality will look like is anybody’s guess — from bureaucracy, confusion and indifference to seamless service and satisfied customers.


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