Why Allowing Your Health Plan to “Auto-renew” in 2015 Could Cost You Money

September 17th, 2014
health insurance From where I’m sitting, it’s looks like Obamacare could have another rough rollout come November 15, when open enrollment begins for 2015. One of the main questions I’ve been getting is, “do I have to renew my plan and reapply for my premium tax credit?” This is definitely a valid question - one that has even the White House up in arms.   The government originally planned on having less traffic to their website during open enrollment this coming year due to millions of Americans | Continue reading this entry »

Twenty-Six-Year-Olds Getting Kicked Out – Of Their Parents’ Health Plans!

September 11th, 2014
turning 26 If you have a grown child currently on your health plan, they can remain on your plan until they turn 26. Do you know their health insurance options after that?   First, check with your health insurance carrier for the exact date your dependent’s coverage will end. For some carriers, coverage ends on the actual birth date for others, it will extend through the birthday month. If your dependent wants to enroll in an Affordable Care Act (ACA) plan, losing parent coverage when they turn | Continue reading this entry »

What is a Grandmothered Health Plan – and is Yours at Risk?

August 26th, 2014
grandmothered plans Move over grandpa, here’s comes grandma! As if you weren’t confused enough about the Affordable Care Act (ACA), you now have a new term to add to your vocabulary - “grandmothered plans.” But what is a grandmothered plan, and if you have one of these plans, what does it mean?   What is a Grandmothered Plan?   If you had a health plan in place prior to passage of the ACA on March 23, 2010, your plan is considered a grandfathered plan - meaning you could keep your current | Continue reading this entry »

September 5th Deadline Looming: Have You Submitted Your Information to healthcare.gov?

August 19th, 2014
deadline approaching If you’re one of the millions of Americans who qualified for a premium tax credit, you must keep reading! Have you received a letter from healthcare.gov requesting additional information to verify your premium tax credit eligibility? If you haven’t responded, you only have a few weeks left. The deadline has officially been set. You have until September 5, 2014 to submit your documentation, or your health coverage will end on September 30, 2014 - now it’s time to get serious!   The | Continue reading this entry »

High Court Ruling On Legality of Federal Subsidies Could Shatter Obamacare Foundation

August 14th, 2014
high court ruling In a stunning move, a federal appeals court ruled against premium tax credits obtained by individuals with coverage through the federal exchange. Shoddy wording in the Affordable Care Act (ACA) law has left the government open to lawsuits and interpretation by the courts.   According to the ACA, premium tax credits are to be granted for policies purchased through a “state exchange,” but no mention of premium tax credits being available for policies purchased through the “federal | Continue reading this entry »

Why You Don’t Have to Go Another Day Without Health Insurance

August 9th, 2014
The next open enrollment for Affordable Care Act (ACA) plans doesn’t begin until November 15th. If you are without health insurance coverage now, there is a solution to get you covered as early as tomorrow. Instead of risking your health and finances by going without coverage until the next open enrollment period begins on November 15th, you can get solid, affordable short-term medical insurance right now.   Enrolling in a short-term health plan also buys you additional time to research | Continue reading this entry »

Still Unclear About Affordable Care Act Rules?

July 11th, 2014
question-mark-person-xsm I get a lot of questions about just who is required to carry Affordable Care Act (ACA) health insurance. Many people still get confused (and rightfully so) about who is exempt and what the penalties are for not getting insured. I thought I’d share the most common questions about exemptions and fines for non-coverage.   ACA Fines and Exemptions – Frequently Asked Questions   Q. How much is the fine for being uninsured?   A. The tax penalty is a flat fee, or a percentage | Continue reading this entry »

Not Enough Health Insurance? No Insurance At All? What’s the Alternative?

July 1st, 2014
health insurance I’ve been getting a lot of calls lately from people who missed the last open enrollment for Affordable Care Act-qualified health coverage. After some of my anxious callers have determined they don’t qualify for a special enrollment period, the question becomes, “Now what?”   The short answer is this: Short-term medical plans. I’ve talked about this before, but it bears repeating. A short-term plan can cover you for a month if that’s all you need, or as long as 11 months – | Continue reading this entry »

Will Medicare and Social Security Cover Your Medical Bills in Retirement?

June 25th, 2014
social security I’m always keeping my eye on trends and projections about health care. We all know that the cost of just about everything in life naturally goes up every year. But there is one such predicted rise in cost that I need to make sure you are aware of.   According to HealthView Services’ “Retirement Health Care Cost Index,” the cost of senior medical care will rise dramatically in the next decade. The financial planning and health-risk assessment firm warns that the combination of Medicare | Continue reading this entry »

Do You Know How to Keep Track of Your HSA Qualified Expenses?

June 20th, 2014
HSA Tracker Now that you’ve put away the task of filing taxes for 2013, you’d probably like a simpler way to keep records of your HSA disbursements for your personal files. But keeping track of your expenses and itemizing descriptions of eligible health care services can be time-consuming and confusing.   While your HSA administrator or trustee provides HSA tax documents for you and the IRS, you need to keep accurate records of expenses paid for with your HSA. Keeping files of recorded spending | Continue reading this entry »