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Posted September 21st, 2017 in Producers, Employers, Individuals
The so-called Individual Mandate has been considered a widely unpopular provision of the Affordable Care Act (ACA) which most Republicans want to repeal and even several Democrats want to change. As members of Congress talk about the various ways the ACA could be modified or improved, options to change the Individual Mandate are being explored.  
 
Posted September 5th, 2017 in Producers, Employers, Individuals
No, this article is not about the potential of the age rating ratio changing from 3:1 to 5:1. It’s about a different change that is actually going to happen in the individual and small group markets in 2018.
 
First, what is the age rating ratio? 
 
Posted August 30th, 2017 in Producers, Employers, Individuals
In September, Senators will return to Washington D.C. from their August recess. Almost immediately, they’ll begin taking up health care (again), but this time Democrats and Republicans will jointly consider changes. 
 
Posted August 22nd, 2017 in Producers, Employers
Flexible Spending Accounts (FSAs) are one of the few benefits an employer can provide that often pays for itself (and then some). While there are expenses that will be incurred by the employer when using a third-party administrator for the FSA, there are also payroll tax savings that will offset some or all of those expenses.
 
Posted August 15th, 2017 in Producers, Employers
Several states have continuation coverage laws in place, and Illinois is no different. In fact, the state of Illinois has three different continuation coverage laws: Illinois Continuation, Illinois Spousal Continuation, and Dependent Continuation. Each law applies to fully-insured group health plans and HMOs that are issued in the state of Illinois. The length of continuation coverage and the persons eligible for coverage vary depending on which law is in play. 
 
Posted August 8th, 2017 in Producers, Employers, Individuals
We all know that efforts by the Republican party to repeal and replace the Affordable Care Act (ACA) have failed up to this point. It’s unknown what healthcare legislation, if any, will ever get through both chambers of Congress and into the hands of President Donald Trump to sign into law. That will remain a mystery for the foreseeable future, but passing a law isn’t the only way the ACA can be altered. There is also regulatory action that can occur. 
 
Posted August 3rd, 2017 in Producers, Employers, Individuals
Effective as of July 1, 2017, the State of Illinois has increased the individual income tax rate to 4.95 percent from 3.75 percent. Also, the corporate rate has increased to 7 percent from 5.25 percent. These increases were included as part of the state’s new budget. Illinois had previously gone 736 days without a budget.
 
Posted July 28th, 2017 in Producers, Employers, Individuals
Well, after several months of debate, it appears you can keep your Obamacare plan and everything else that comes along with the Affordable Care Act (ACA). 
 
On Tuesday, the Senate voted favorably on a motion to proceed with the debate over a repeal and/or replacement of the ACA. This was a significant procedural step necessary to pass a bill in the Senate. 
 
Posted July 24th, 2017 in Producers, Employers, Individuals
Senate Republicans may vote as early as Tuesday on a bill that would repeal and replace key parts of the Affordable Care Act (ACA), but there are still a couple of unknowns. 
 
Posted July 18th, 2017 in Producers, Employers, Individuals
Senate Republicans introduced the Better Care Reconciliation Act of 2017 (BCRA) last month which would repeal and replace key parts of the Affordable Care Act (ACA). It’s been amended two times since it was released and is now in its third version. The latest changes were released on July 13th and include the following updates: