I am raising money with my team, Love, Hope and Faith, who will walk on Saturday, October 15th in the Making Strides Against Breast Cancer walk in Dayton,Ohio.
Showing posts with label Affordable Care Act deadline. Show all posts
Showing posts with label Affordable Care Act deadline. Show all posts
Sunday, November 13, 2016
Thursday, November 10, 2016
Is there a future for private insurance exchanges?
The collapse of most Obamacare exchanges has captured the attention of the media in recent months. This may explain the lack of news about private exchanges. Private exchanges have not exactly caught fire, but they have not disappeared either. The failure of Obamacare exchanges may increase calls for a national medical welfare program. Ironically that same failure increases the future potential for private exchanges. So even as Obamacare exchanges continue to collapse, work to develop and market private exchanges continues and the future of those private exchanges remains hazy. Some factors:
Thursday, March 20, 2014
Obamacare Deadline March 31st; Important Points to Remember
March 31 is just around the corner and it is the deadline of Affordable Care Act open enrollment. If you missed the deadline and have not purchased health care coverage you may be penalized (tax penalty) on your 2014 taxes filed in 2015. You will also have to wait for the next open enrollment period.
If you have already insurance from your work, Medicaid, Medicare, or others you will not be penalized as long as it have the minimum standards under the Affordable Care Act.
Under the ObamaCare Act everyone is required to have health insurance or if you don't you will have to pay a tax penalty (in 2015 when 2014 taxes are filed). However, there are exemptions.
- The household income of your family is less than the IRS income tax filing requirement ($10,000 if you are single, $20,000 if you are married and filing jointly).
- If you are a member of ministries or religious sects, or of a federally recognized Native American tribe.
- If you are uninsured for less than three consecutive months in a year.
- If you can't afford to get an insurance because of financial difficulties or the lowest premium is more than 8% of your household income.
- If your insurance plan was recently cancelled and you can't afford a marketplace plan.
- If your health insurance does not meet minimum coverage standards, but your state insurance commissioner allows your insurer to continue to offer out of date plans until the October 1st, 2016 additional grace period.
- If you are 26 yearsold and below you can opt to stay on or be added to your parents' health insurance plan, even if you don't live with them.
Subsidies for the cost of health insurance - you can check if you are eligible for financial assistance from the US government, through subsidy. It will be determined based on your household income and family size. You easily check if you qualify for a tax subsidy by using the health care calculator from TurboTax. The subsidy can go directly to your health insurance provider when you purchase insurance if you are qualified. If you qualified you will pay a lower monthly health insurance premium.
Penalties:
In 2014 the amount of one-time penalty is $95 per adult, or 1% of your total income depending on your income. For uninsured children in your household, the penalty is $47.50 per child with a maximum family penalty of $285.
Visit HealthCare.gov to apply for health insurance, you can also compare plans, and enroll online. You can also apply by phone or get in-person help with your application.
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check out my friends blog Unknown Sender
If you have already insurance from your work, Medicaid, Medicare, or others you will not be penalized as long as it have the minimum standards under the Affordable Care Act.
Under the ObamaCare Act everyone is required to have health insurance or if you don't you will have to pay a tax penalty (in 2015 when 2014 taxes are filed). However, there are exemptions.
- The household income of your family is less than the IRS income tax filing requirement ($10,000 if you are single, $20,000 if you are married and filing jointly).
- If you are a member of ministries or religious sects, or of a federally recognized Native American tribe.
- If you are uninsured for less than three consecutive months in a year.
- If you can't afford to get an insurance because of financial difficulties or the lowest premium is more than 8% of your household income.
- If your insurance plan was recently cancelled and you can't afford a marketplace plan.
- If your health insurance does not meet minimum coverage standards, but your state insurance commissioner allows your insurer to continue to offer out of date plans until the October 1st, 2016 additional grace period.
- If you are 26 yearsold and below you can opt to stay on or be added to your parents' health insurance plan, even if you don't live with them.
Subsidies for the cost of health insurance - you can check if you are eligible for financial assistance from the US government, through subsidy. It will be determined based on your household income and family size. You easily check if you qualify for a tax subsidy by using the health care calculator from TurboTax. The subsidy can go directly to your health insurance provider when you purchase insurance if you are qualified. If you qualified you will pay a lower monthly health insurance premium.
Penalties:
In 2014 the amount of one-time penalty is $95 per adult, or 1% of your total income depending on your income. For uninsured children in your household, the penalty is $47.50 per child with a maximum family penalty of $285.
Visit HealthCare.gov to apply for health insurance, you can also compare plans, and enroll online. You can also apply by phone or get in-person help with your application.
-----------------------------------------------------------------------------------------------------
check out my friends blog Unknown Sender
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