Insurer Bailouts ­ Who’s Paying? You Are, Unfortunately

January 29th, 2016
insurer­bailouts Special provisions in the Affordable Care Act (ACA) allow insurance companies to recoup the losses associated with selling ACA-compliant policies, and the money comes from taxpayers like you and me. Last month Congress rejected a request from the Obama administration to fund a $2.5 billion dollar promise ­ it made to insurance companies as a provision of the ACA. One of the key pieces of this mammoth piece of legislation requires that the government bailout insurance companies for the losses they | Continue reading this entry »

No Health Insurance in Your Stocking?

December 30th, 2015
health-insurance-options Never fear, options are here! This time of year is incredibly hectic, and it can be downright stressful for many of us. The Obama administration didn’t do those of us who stress-out during the holidays any favors when they created the concept of the Open Enrollment Period (OEP) for health insurance. The Affordable Care Act (ACA) mandated that the vast majority of health insurance plan purchases must occur between November 1 and January 31 every year.   (If you qualify for a Special | Continue reading this entry »

HANDS OFF! Three Reasons to Leave Your HSA Funds Alone Until Retirement

November 26th, 2015
hsa-funds-retirement HSAs (Health Savings Accounts) coupled with High-Deductible Health Plans (HDHPs) - just alphabet soup, or a winning combination for ensuring your financial security? Definitely, the latter!   More and more Americans are signing up for HSAs, and the reasons for this are varied. First, HSAs are (by definition) tied to HDHPs, which have lower premiums than many of the options available to individuals in this post-Obamacare market. At HSA for America, my team and I talk to a lot of people | Continue reading this entry »

November 1 is the first day of Open Enrollment!

October 20th, 2015
open-enrollment Lots of us call it Obamacare, but officially it’s the Affordable Care Act, or the ACA. The jury is still out as to whether this massive piece of legislation will live up to its title. One thing’s for sure - it’s completely changed the American health insurance marketplace in lots of ways. The fact that Americans can’t actually buy health coverage any time they want, like we could before the ACA is easily the biggest change as a result of this law. Some people will qualify for Special | Continue reading this entry »

Soon You May Be Hitting the Gym With Your HSA Dollars

September 23rd, 2015
hit-the-gym-with-hsa-dollars Maybe you’ve got abs of steel, or maybe you’re a weekend warrior. On the other hand, perhaps your idea of a workout is having to get off the couch to find the remote. Regardless, there’s a new bill working its way through the House of Representatives that will make it easier for all of us to break a sweat.   Health Savings Accounts (HSAs) have grown in popularity every year since their introduction to the marketplace over ten years ago. People like them because of their triple tax | Continue reading this entry »

Historic Same-Sex Marriage Ruling and the Impacts on Health Care

August 27th, 2015
same-sex-marriage-healthcare On July 14, 2015, the Supreme Court of the United States made the historic ruling that states could not prevent same-sex marriages. Celebrations immediately erupted across the country, but there are still lots of details to work out, including how healthcare will work for those in same-sex marriages and how you can pay less for health care.   Special Enrollment Period   When you get married, the benefit of switching over to a single plan that includes your spouse is that the marriage | Continue reading this entry »

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 June 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 »