Health Saving Accounts and ObamaCare for 2017 We cover everything you need to know about Health Savings Accounts (HSAs) for 2017, including how HSAs work with ObamaCare plans. What Are Health Savings Accounts? Health savings accounts are tax-advantaged medical savings accounts that you can draw money from for certain medical expenses. They work a bit… Read More
Understanding ObamaCare’s 2017 Open Enrollment Period Open Enrollment 2017 started November 1, 2016 and ended January 31, 2017. Open enrollment is the only time you can enroll in a health plan on the individual market without qualifying for special enrollment. That means if you wanted to get cost assistance and avoid the monthly fee for 2017,… Read More
ObamaCare News Archives Below you will find our archive of news articles on the Affordable Care Act from 2012 – 2014, see our current ObamaCare news section for recent news related to the ACA. ObamaCare News November 2014 Should I Shop Inside or Outside of the Marketplace? Published November 20th, 2014 by ObamaCare Facts Most of… Read More
There are a few taxes related to ObamaCare that require the attention of most tax paying Americans. Below we review the most important tax tips for 2016.
Most states stuck to the hard deadline of January 31st, 2016, but a few states are allowing those who signed up (but didn’t enroll) a few extra days to enroll.
According to CMS nearly 950,000 Americans selected a plan through the HealthCare.gov via Special Enrollment between February 23 and June 30, 2015. What Is Special Enrollment? A Special Enrollment Period (SEP) is a time outside of open enrollment where people can get a Marketplace plan that is eligible for cost assistance and protects them from the fee. There are a number… Read More
College students have a number of health plan options including the Marketplace, Medicaid, school health plans, catastrophic plans, and their parents plan. Below we take a look at student health options under the Affordable Care Act (ObamaCare). FACT: A university health plan counts as Minimum Essential Coverage for ObamaCare if it’s fully insured or self insured. Aside… Read More
Here are some last minute tax tips for ObamaCare about claiming tax credits, claiming exemptions, using your 1095-A form, and filing for extensions.
Employers can use Health Reimbursement Arrangements (HRAs), Employer Payment Plans, and Flexible Spending Accounts (FSAs) to save money on healthcare. We take a look at healthcare arrangements to find out how they can benefits employers and employees alike. We will also look at how they affect employer and employee taxes and penalties. It’s important to understand… Read More
ObamaCare and Health Insurance for the Self-Employed The Affordable Care Act (ObamaCare) has some important implications for how the self-employed go about obtaining, maintaining, and paying for health coverage. If you’re self-employed, most of the healthcare provisions in the ACA apply to you. Let’s take a look at how you’re affected by ObamaCare, how you can reduce the cost of coverage, and how… Read More
If you are running out of time to enroll in a Marketplace plan for 2015, follow the steps below to ensure you get covered.
Barring any official extensions, today February 15th, 2015 is the last day to enroll in a health plan for 2015.
Find out about Health Care Sharing Ministries (HCSM), and related exemptions under ObamaCare. FACT: If your Health Care Sharing Ministry qualifies then you are exempt from the fee. Members of health care sharing ministries demonstrate their exemption by using IRS Form 8965 when filing their 1040 tax return. What are Health Care Sharing Ministries (HCSM)? Health Care Sharing… Read More
Affordable Care Act Vision Coverage Vision insurance generally isn’t covered under the Affordable Care Act (ObamaCare). However, pediatric eye care is a required benefit included on all plans that qualify as minimum essential coverage under the ACA. Even though adult vision coverage isn’t a required benefit of ObamaCare, “vision health” is still an important aspect… Read More
A list of ObamaCare’s Exemptions, including Hardship Exemptions, you can apply for in order to qualify for Special Enrollment or be exempt from the fee can be found below. This page just covers the basics, see our page on ObamaCare Exemptions for further details on exemptions and the fee (active on plans held in 2014 –… Read More
The Individual Shared Responsibility Payment is the fee for not having Minimum Essential Coverage. Follow our guide to make calculating your payment easy. UPDATE 2019: For 2019 forward there is no fee for not having health insurance in most states. In this sense, the Individual Shared Responsibility Provision has been effectively repealed as the federal… Read More
The 1095 forms are filed by the marketplace (1095-A), other insurers (1095-B), or by your employer (1095-C). We have simple instructions for the 1095 forms. Keep in mind the 1095 forms are filed by whoever provided you coverage, so individuals won’t have to fill them out themselves. TIP: This page has been updated for 2022 (although on-page… Read More
Some say ObamaCare doesn’t do enough to control health care cost. Let’s look at how ObamaCare controls healthcare spending with cost controlling provisions. TIP: To find out what coverage under the Affordable Care Act will cost you, make sure to check out the healthcare.gov marketplace and find your cost after assistance is applied. Taxpayers are benefitting as… Read More
Get the Facts on the 60 minutes report on ObamaCare “Dissecting ObamaCare” featuring Steven Brill author of “America’s Bitter Pill.” We fact-check the video. Watch the full of the 60 Minutes ObamaCare video. First fact-check, it’s only 13:19 minutes long, not 60:00. CBS intended each of its segments to run for approximately 15 minutes and… Read More
Get health insurance quotes and find out if you qualify for cost assistance from CMS approved brokers and on HealthCare.Gov. Below we will discuss the best ways to get health insurance quotes (HINT: Start at ObamaCare’s Health Insurance Marketplace sometimes called “the Marketplace” AKA HealthCare.Gov). We’ll also give you lots of helpful advice to help ensure you get… Read More
Here is a quick list of tips for getting the best health plan. No matter how you shop, this list will ensure you don’t over or under-buy health insurance. NOTE: Finding the best health plan for you and your family depends on your family size, income, needs, region, and more. The best plan for one… Read More
The Save American Workers Act changes the definition of full-time workers so fewer employers have to comply with ObamaCare’s employer mandate. Let’s take a look at the legislation, why it was passed in the House, why it won’t pass the Presidents desk, what effects it has, data on part-time hours and job loss, and some alternatives… Read More
Having Health Insurance means you are covered in an emergency. Not getting coverage could result in big fees for those who wait until taxes are due. Obtaining and maintaining health insurance isn’t just about avoiding a fee, it’s about taking responsibility for your health, knowing you have coverage when you need it, and avoiding the devastating… Read More
What is a Health Savings Account? A Health Savings Account (HSA) is a tax-advantaged medical savings account you can contribute to and draw money from for certain medical expenses tax-free. HSAs can be used for out-of-pocket medical, dental, and vision. HSAs can’t be used to pay health insurance premiums. HSA’s can only be used with… Read More
If you are under 30 or obtained a “hardship exemption” you qualify for a high deductible, low premium, catastrophic plan. Catastrophic health plans are the cheapest plan you can get that counts as minimum essential coverage. Catastrophic plans can be good for those who want cheap, barebones care. Catastrophic plans tend to trade a low… Read More