Many healthcare plans will not be renewing for the 2017 year and members with the following carriers have already received a Letter of Termination. If you are insured by one of these plans, it is urgent that you contact your agent to choose and enroll in a different plan for the 2017 year. Aetna, [...]
“What is my penalty if I don’t buy medical coverage?” Here are the updates: We usually answer questions about doctors, hospitals and deductibles, but in the age of Healthcare Reform, tax penalties are now a consequence if you don’t follow the law regarding owning a healthcare policy. There is a penalty for each month you and your [...]
After a few years of insurance mandates, tax penalties and rising premiums, insureds are wondering what the future holds for healthcare for their own household. The question of the day is: How will the election affect my insurance premium? To begin, it helps to understand why politics affects healthcare in the U.S. The passage [...]
Now that the Affordable Care Act has relaxed the eligibility requirements to qualify for Medicaid, so many people are coming to take advantage of it that states are now getting worried. The Associated Press reports Washington, D.C. and 31 states have expanded Medicaid, meaning lots more low-income people now have coverage than before the ACA’s passage. [...]
Open Enrollment is quickly approaching and insurance carriers are beginning to reach out to clients regarding their coverage and plan options for 2017. In October, CMS will send a Marketplace Open Enrollment Notice (MOEN) to all on-Exchange members. This notice will contain certain basic information, including: a description of the annual redetermination and renewal process; [...]
One of the Obama administration’s numerous experiments to reduce the cost of Medicare has provoked fury from cancer doctors. The administration announced last month it would be trying out a new model to reimburse doctors and providers for the cost of medications administered at outpatient facilities, typically expensive cancer treatments that are delivered intravenously at [...]
What are the trends driving change in the healthcare industry? Here is an excerpt from BenefitsPro author REID RASMUSSEN commenting on the trends he identifies as the most impactful factors in this year's healthcare environment: All around the country, brokers ask where the industry is going? They want to know if other states are seeing the same [...]
Our business clients can keep their current benefit plans even longer Earlier this year, guidance from the Center for Medicare & Medicaid Services (CMS) brought news related to non-ACA (Affordable Care Act) benefit plans. This guidance means that certain employer groups (up to and including 50) can keep their current medical benefit plans and continue to be [...]
Drug shortages in U.S. emergency rooms increased by more than 400 percent between 2001 and 2014, a new study finds. The study, published in Academic Emergency Medicine, a medical journal, found more than 1,800 reported drug shortages during the 13-year timeframe. Just over a third of the reported shortages came from emergency departments, and in [...]
Health insurance for the masses continues to be a good deal for most, at least when coverage policies are judged by their premiums. A new U.S. Department of Health and Human Services report says that users of the HealthCare.gov insurance site “are actively shopping and saving money,” a sign that Americans are becoming increasingly savvy about [...]
Healthcare Reform and the quest to reduce waste is back in the news today. The ACA has produced some tumultuous results in the healthcare industry as reported by Insurance Business America in the following report by Jill Gregorie. Our analysis follows the report. "Anthem Inc has agreed to purchase Cigna Corp for $54.2 billion in a [...]
News for patients using Humana networks: Last October we had to notify our Humana clients that Florida Hospital had not continued their contract with Humana, but now we are happy to report that Florida Hospital and Humana are working together again. Central Floridians who have Humana health insurance can once again pay in-network fees at [...]
Aetna and Humana Inc. announced on July 3 that they have entered into a definitive agreement under which Aetna will acquire all outstanding shares of Humana for a combination of cash and stock valued at $37 billion or approximately $230 per Humana share based on the closing price of Aetna common shares on July 2, 2015. In a [...]
New announcement The Centers for Medicare and Medicaid Services on Friday morning announced it will implement a special enrollment period for individuals who learn, at the time they file their taxes, of the Affordable Care Act-mandated tax penalty for not having health insurance coverage. The special enrollment period will allow people to sign up as [...]
Knowing the cost of NOT owning health coverage is now a factor in deciding on your medical plan. Plan ahead for Open Enrollment "What is my penalty if I don't buy medical coverage?" Certainly not the most asked question we receive in our insurance office. After all, our business is to help people get [...]
Florida Hospital will no longer be included in Humana's network Last month Florida Hospital notified Humana that effective October 18, 2014 it would no longer be part of Humana’s commercial HMO, PPO, EPO and POS provider network. Although there were discussions to retain in-network access to these hospitals for Humana members, an agreement [...]
If you have coverage from a job (or a family member’s job): You will not owe a fee because you have met the Shared Responsibility Provision. With job-based insurance, you are considered covered and won’t have to pay the fee that uninsured people must pay. You may also purchase your own healthcare insurance. You [...]
Glossary of Health Insurance Terms actuary - a mathematician in the insurance field. Responsible for calculating premiums, developing plans and defining underwriting risk. Affordable Care Act - The comprehensive health care reform law enacted in March 2010. The law was enacted in two parts: The Patient Protection and Affordable Care Act was signed into law [...]
The latest updates on Healthcare Reform are presented at our "Affordable Care Act 101" presentations. Join us this week when we are hosted by accounting and tax expert ATI Professional Services Inc. We will present valuable information regarding mandates, subsidies, and new updates on the deadlines for 2014 and beyond. Learn how to choose your [...]
Insurance? Exchanges? Metallic Choices? You are not on your own to sort out the new era of Healthcare Reform! You do have options and even more choices than you have seen advertised with huge marketing campaigns. Yes, you may be eligible for tax credits to help pay premiums or cost sharing to help pay [...]
What is Modified Adjusted Gross Income? The magic number needed for those seeking to receive assistance with their new health insurance premiums under the ACA (also known as "Obamacare") is not simply one's household income. It is defined as something called "Modified Adjusted Gross Income". This number does not appear as a line item on [...]
We're nearing the finish line - less than one week left until Small Groups will leave the "pre-reform" pricing and designs of their Medical Plans and begin renewing under the ACA regulated insurance environment. Here is a brief Background behind the deadline: Affordable Care Act (ACA) is bringing inevitable change to the health care system including: New benefit requirements under [...]