How Insurance Company Mergers May Affect You

July 22nd, 2015
insurance-company-mergers The Affordable Care Act (ACA) has created a lot of chaos since it was enacted. One of the consequences of all the policy changes is that insurance companies have begun to merge in an attempt to continue operating. Recently, Humana and Aetna announced their merger, and they will certainly not be the last. If you buy your own health insurance, you should be aware of how insurance company mergers may affect your coverage and coverage options.   Less Competition in the Healthcare Market   When | Continue reading this entry »

SCOTUS Votes In Favor of Obamacare Tax Credits

June 26th, 2015
ACA-Obamacre On July 25, 2015, the Supreme Court of the United States ruled 6-3 that the Obamacare tax credits for the states is legal. This is a major victory for Obamacare and prevents millions of people from losing subsidized coverage. Unfortunately, for those who don’t receive subsidies and have already received huge rate increases, this decision does nothing to fix the broken parts of this law that are costing many people thousands of dollars a year.   What Was The Case About Exactly?   King | Continue reading this entry »

Doubling Down – Premiums Get Higher for Obamacare Plans in 2016

June 8th, 2015
Obamacare If you are currently have an income that’s over 400% of the federal poverty level, expect big changes in your health insurance in 2016. While low net premiums have made coverage more affordable for those who receive government subsidies, those who pay full price for their coverage are facing higher premiums than ever. Premiums have already nearly doubled since Obamacare went into effect, and are going to continue to grow under the current law. Recent announcements from some of the major carriers | Continue reading this entry »

Is the Government Trying to Destroy HSAs?

May 18th, 2015
health-savings-account For many years, I've seen how Health Savings Accounts (HSAs) have been extremely valuable for millions of Americans. These are essentially lower initial-cost, higher deductible plans that include a tax-favored savings account. That's proven to be the smart healthcare choice for many people, but new regulations could make HSA plans more expensive and more difficult to find. The reason has to do with changes to “Aggregate Deductibles.”   What Are Aggregate Deductibles?   For | Continue reading this entry »

Health Insurance Options Outside Open Enrollment

April 27th, 2015
Health-Insurance-Options If you missed the last open enrollment period for health insurance, you probably have already heard that you will have to wait until the next one to enroll in a plan. But, that doesn't mean that you have to go without coverage. There are coverage options that can get you through to the next chance to enroll.   Do You Qualify for Special Enrollment?   The most recent insurance enrollment period closed February 15, 2015. The next one will run from November 1, 2015 to January | Continue reading this entry »

Why HSA Contribution Limits Should Be Higher

April 13th, 2015
HSA-Contribution A Health Savings Account (HSA) has many benefits, the biggest of all being that consumers with one can use tax-free money that they have contributed to this type of fund to pay for a wide range of qualified medical expenses. Furthermore, if this money is not used it rolls over from year to year and can become a very beneficial and high-value account to access during retirement. Not only can you contribute to your HSA, but your employer can as well.   Unfortunately, one of gripes of | Continue reading this entry »

April 15 is Approaching – Maximize Your HSA Contribution!

April 6th, 2015
Tax-Refund   The 2014 tax deadline is swiftly approaching, which means it’s important that you maximize your HSA contributions, so that you can claim them on your 2014 tax return. The maximum HSA contribution limit in 2014 is $3,300 for individuals and $6,500 for families. In 2015, this contribution limit will increase to $3,350 for individuals and $6,650 for families.   Why Is It Important to Maximize Your Contributions?   Remember, funds that you deposit into your HSA account | Continue reading this entry »

Open Enrollment Through April 30th. Act Now!

March 5th, 2015
OpenEnrollment Even though the Annual Open Enrollment period to sign up for health insurance in 2015 just ended on February 15th, millions of Americans are getting one last chance to sign up for a plan this year. Anyone who does not have health insurance in 2015 will have to pay a tax penalty of 2% of their household income, up to $975 for a family.   One More Chance To Get Coverage in 2015   For states that use a federal insurance exchange (which is the majority of the country), the U.S. Department | Continue reading this entry »

Open Enrollment Deadline Extension for State Exchanges

February 20th, 2015
Deadline Extended Annual Open Enrollment ended on February 15, 2015 - however there is still time available for those who need extra time to complete or submit an application, which varies based upon what state you live in. If you still need to get coverage it’s absolutely essential to meet with an HSA for America Personal Advisor to ensure you find the right plan for you and your family to protect your future - while also benefiting from premium subsidies and other types of assistance that can lower your monthly | Continue reading this entry »

Act Now – Open Enrollment Period Extended

February 18th, 2015
open enrollment deadline extended If you have not yet completed your application to obtain health insurance, you now probably qualify for a special enrollment period which ends on 11:59 p.m., February 22.   This special enrollment period was created and approved by the Center for Medicare and Medicaid Services (CMS), because so many people experienced delays trying to apply last week. Below are the requirements you must meet to qualify for this special enrollment period:   You are not currently enrolled in | Continue reading this entry »