individual health plans

Posted July 28th, 2016 in Producers, Employers, Individuals
There has been a lot of shake up in the recent weeks and months as it relates to health insurance options available in the individual marketplace. UnitedHealthcare (UHC) announced it would only offer individual plan options in three states next year. Humana also announced they would be limiting the number of states it offers individual plans in next year. More recently, three additional CO-OPs in Connecticut, Illinois and Oregon announced their closures by the end of the year.
 
Posted May 16th, 2016 in Producers, Employers
The Centers for Medicare and Medicaid Services (CMS) unveiled a new interim final rule on May 6, 2016 which amends certain special enrollment periods (SEPs) in the individual marketplace and revises certain rules pertaining to consumer operated and oriented plans (CO-OPs). The rule aims to curb abuse of the SEP, which insurers have said is occurring when consumers claim to have a qualifying event but actually do not. The rule also aims to strengthen the CO-OP program.
Posted April 4th, 2016 in Producers, Employers, Individuals
H&R Block®, the largest tax services provider in the country, has indicated that so far this year the average penalty paid by those individuals without health insurance in 2015 is $383. The average penalty paid in 2014 was $172, reflecting an increase of $211 from the previous year. The penalties will be steeper in 2016 being the greater of $695 or 2.5% of income.  
 
Posted November 20th, 2015 in Producers, Employers, Individuals
The Centers for Medicare and Medicaid Services (CMS) has released premium and cost sharing information for Medicare beneficiaries in 2016.  Approximately 70% of individuals will pay $104.90 per month for Part B, however, the premium cost will be higher for the remaining 30% of individuals who:
 
  1. Enroll in Part B for the first time in 2016; or
  2. Those who don’t currently receive Social Security benefits; or
  3. People who have Medicare and Medicaid, and Medicaid pays the Part B premium; or
Posted July 18th, 2014 in Producers, Employers
The IRS and other agencies have issued three different sets of guidance making it clear that employers cannot give actively employed workers pre-tax dollars through a Health Reimbursement Arrangement (HRA) ,or any other type of arrangement, to purchase individual coverage on their own.
Posted June 13th, 2014 in Producers, Employers, Individuals

On June 1, 2014, same-sex marriage became legal in the state of Illinois. As a result, we wanted to revisit marriage as a qualifying event for health insurance coverage and discuss how account-based health plans are impacted.

Posted May 16th, 2014 in Producers, Employers

As a trusted benefits administrator, Flexible Benefit Service Corporation (Flex) wants to keep you informed on the following:

Federal regulators have recently indicated that they don’t feel the current COBRA notices provide enough information about the Exchanges and the options that COBRA beneficiaries have in the Individual Marketplace.

Posted May 9th, 2014 in Producers, Employers, Individuals

The Department of Health and Human Services (HHS) issued some new guidance on May 2, 2014 as it relates to Special Enrollment Periods and Hardship Exemptions in the individual marketplace. The new guidance has been summarized below:

Posted February 28th, 2014 in Producers, Employers

Today is the last day of February which means we are only one month away from the end of the first open enrollment period for individual health plans. March 31st is the last day that individuals can sign up for coverage without a qualifying event, but there is one big question that is still looming – Will the open enrollment period get extended to a later date? 

Posted February 7th, 2014 in Producers, Employers, Individuals
  • The Department of Health and Human Services (HHS) has reported Exchange application submissions have exceeded 3 million.
  • The Congressional Budget Office (CBO) has updated 2014 Exchange enrollment estimates to 6 million.
  • Some reports are showing that 22,000 Exchange applicants were enrolled in the wrong plan or received a lower subsidy than expected,  15,000 Exchange applications were lost and only 11% of Exchange applicants were previously uninsured.

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