In a few short weeks, October will be upon us and with it, the Open Enrollment season for employee benefits. In addition to the alphabet soup of health insurance coverage options, there are new provisions of the ACA to consider. Selecting a plan from these options has become increasingly difficult as the provisions seem to… Continue reading Coming Soon: HMO, PPO, EPO, POS and ACA
Sticker shock. That’s what many parents are feeling when they open an email to find that their child’s annual college tuition is over $60,000 annually. And it’s not just a handful of schools. Tuition and expenses have exceeded the $60,000 for the 2014-15 school year at many private colleges and universities. Is health care a… Continue reading Your Tuition Dollars at Work: Health Insurance
If an individual or family decides to forego health insurance, is there a penalty tax? What is the exact figure? It seems that computing this tax may be a bit more complicated than has been portrayed in many publications. Who precisely is subject to this tax and when is it assessed? The Obamacare individual mandate… Continue reading Affordable Care Act Penalty Tax: Yes, No, Maybe?
It may be if it covers specialty drugs. Why is this an important component of a health insurance plan? You checked the drug formulary: no problem. Everything is covered. Be careful. Prescription drugs have long been an important component of any health insurance plan. Most prescriptions (primarily generic substitutes) in employer sponsored plans have a… Continue reading Is Your Health Insurance Plan Special?
Is anyone really sure who is paying for healthcare? Who paid before the Affordable Care Act? Who is paying for it now? Let’s see if we can clarify this for everyone…. Premiums are fully paid though my paycheck for my employer sponsored plan.Unlikely. Probably not even close. Last year, the average cost of family coverage… Continue reading Who is Really Paying for Health Care: Four Myths
Small business owners who have been waiting to purchase health insurance through the Small Business Options Program (SHOP) exchanges for 2015 may find their selection of plans to be limited to one plan only. Although these small business exchanges will officially open for business in November, not all will offer a broad selection of plans.… Continue reading SHOPping for Health Insurance? May Be Slim Pickings
If you’re a participant in an employer sponsored health plan, you may begin to see “reference pricing” as a component of your health insurance coverage. Does this mean that policyholders consult reference materials to learn about coverage? Not exactly, but the concept of reference pricing, which was given the green light by the Obama administration,… Continue reading Check Your Health Insurance at the Reference Library
You’re a newly minted college grad or a parent of a grad. Congratulations! You have begun working, expect to begin working soon, or are out job hunting. Maybe graduate school. Or whatever comes next. Lots to think about as you contemplate your next steps. Health insurance is probably NOT high on the list. So many… Continue reading You’re a College Grad! Now What About Your Health Care?
One of the cornerstones of the Affordable Care Act (ACA) is the ten essential benefits that include preventative services with no deductibles or copayments. The list includes an annual physical screening for a procedures such as a colonoscopy and a mammogram. But what if you go to your doctor for your annual physical and, at… Continue reading Preventative or Diagnostic: Am I Covered?
It’s routine now to hear high school seniors meandering in the hallways of their schools discussing what they are doing next year. College? Gap year? Other plans? On college campuses around the country students are planning for their graduations and their futures: Job? Graduate School? Don’t know yet? If you have children that fall into… Continue reading The ACA for my college age kids
