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 »

Pioneering Price Transparency

June 19th, 2014
price transparency When I visit my local grocery store, I know exactly what each item I place in my basket will cost me at checkout. If there’s any doubt whether or not I paid the price that was posted on the shelf, there’s always a receipt for my review. Why should healthcare be any different?   It seems we’ve become complacent in the wait-and-see game when it comes to medical pricing. We get treated, and then wait to see the bill in our mailboxes telling us what the damage is.   I’ve | Continue reading this entry »

Your Health Plan Anniversary is Coming. Are You Ready?

June 5th, 2014
Special Enrollment Period Are you one of the many people who got an “Eleventh-hour” extension on your pre-Affordable Care Act (ACA) health plan last year? Chances are, your plan will have its anniversary pretty soon. I want to give you an idea of what your options really are.   Back in November of 2013, the White House notified state health insurance commissions of a “transitional relief policy” allowing non-grandfathered/non-ACA-qualified plans to be extended through 2014. This policy was further extended | Continue reading this entry »