Individuals

Posted February 13th, 2019 in Employers, Producers, Individuals

The term “Medicare for All” has been making headlines recently. Democrats across the country have made this concept a central part of their platforms, and polls have shown that more than half of Americans are in favor of it.

But what does it really mean? Well, the best answer is that it means different things to different people.

Posted January 8th, 2019 in Producers, Individuals

You may be familiar with Medicare’s open enrollment period (OEP) which occurs each fall. From October 15th until December 7th of each year, Medicare beneficiaries can enroll in a Medicare Advantage or Part D plan of their choice. This includes enrolling in a plan for the first time or changing to a new plan.

Posted December 31st, 2018 in Producers, Employers, Individuals

Health Savings Accounts (HSAs) allow eligible individuals to put money aside tax-free to pay for out-of-pocket medical expenses, but HSAs work differently than other tax-advantaged accounts. Here are 10 helpful tips and reminders as the year comes to an end. 

Posted December 20th, 2018 in Individuals

Time is running out to spend your 2018 FSA funds. In most cases, unless your plan has carryover or the Grace Period, you’ve only got until 12/31 to spend any remaining balance. By the time the ball drops on New Year’s Eve, any money left in your account will be forfeited.

Posted December 17th, 2018 in Employers, Producers, Individuals

Last Friday, a federal judge in Texas ruled the Affordable Care Act (a.k.a. Obamacare) unconstitutional.

The judge’s decision came in response to a lawsuit filed by 20 Republican state attorneys general earlier this year. The lawsuit was filed after the Tax Cuts and Jobs Act zeroed out the Individual Mandate penalty. The lawsuit claimed the Individual Mandate was so essential to Obamacare, and without it, all of Obamacare must go. The judge agreed.

Posted December 11th, 2018 in Producers, Individuals

Illinois state legislators passed a law last month which makes several changes to short-term medical (STM) plans. The most significant change limits the maximum duration of coverage to periods that are less than 181 days (i.e. 180 days). This change applies as of November 27, 2018, which is the date the law was enacted. The immediate effective date did not provide a window of time for insurance carriers to adjust their STM plans to the shorter durations of coverage.

Posted November 16th, 2018 in Employers, Producers, Individuals

On November 15th, the IRS released Revenue Procedure 2018-57 which includes inflation adjustments for certain employee benefit programs and other items. 

Posted October 17th, 2018 in Producers, Individuals

Each year, the Centers for Medicare and Medicaid Services (CMS) adjusts the premiums and out-of-pocket expenses for Medicare beneficiaries. Below is a summary of the 2019 costs.

Premiums

Part A: Most individuals don't have to pay a premium for Part A, however, those that do will generally have to pay $437 per month in 2019. This is an increase from $422 in 2018.
 

Posted September 20th, 2018 in Employers, Producers, Individuals

2018 ACA Reporting Requirements

The Internal Revenue Service (IRS) has released draft versions of the forms and instructions for the 2018 reporting year. The reporting, which is required under the Affordable Care Act (ACA), helps the IRS enforce the Individual Mandate, Employer Mandate and verify subsidy eligibility for individuals who obtain coverage through the Health Insurance Marketplace.

Posted September 11th, 2018 in Employers, Producers, Individuals

The midterm elections will be held on November 6, 2018, and the Affordable Care Act (ACA) will surely be a hot topic on campaign trails. Republicans are expected to continue down a path of conveying their belief that the ACA is ineffective and has driven up healthcare costs. Democrats are expected to point out consumer protections that are included in the ACA, such as coverage for pre-existing conditions and essential health benefits.

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