ObamaCare’s Cadillac Tax is a 40% excise tax on high end plans above $10,200 for individuals and $27,500 for family coverage that was set to start in 2018 but was been delayed. This tax is not deductible. The excise tax is one of the main revenue sources for the ACA, helps curb healthcare costs, and… Read More
Under ObamaCare Veterans and others receiving qualifying VA health benefits, don’t have to do anything. You are considered to have Minimum Essential Coverage and won’t owe the fee.
Come 2017 Arkansas plans to create a “private option” alternative to Medicaid that uses a single pool for nearly 190,000 under the 138% Poverty Level.
Veterans coverage (Veteran’s health care program) counts as Minimum Essential Coverage under ObamaCare so you don’t need to get other coverage.
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
Get the facts on the ObamaCare replacement plan by Burr, Hatch, and Upton: the Patient Choice, Affordability, Responsibility, and Empowerment (CARE) Act. Below we present a summary, some quick facts, a pros and cons chart, a complete section-by-section breakdown, and finally we compare the CARE Act proposal to ObamaCare. Keep in mind this is an older replacement… Read More
ObamaCare sign up numbers reach 10 million after a surge in Federal Marketplace enrollments. A February 2015 HHS report shows ObamaCare is working. Enrollment numbers have surpassed 10 million between the state and federal marketplaces. It also points out some other really cool and groundbreaking facts about the uninsured rate (updated with citations on March 18 2015)…. Read More
I have a health insurance (UHC) plan through a large employer. UHC is attempting to not cover my son’s sugery room and Anesthesia for a proceedure done to fix his teeth. He received 3 crowns and 5 fillings and since he is 2 years old they preformed it in a surgery center at a Children’s… Read More
Employers can get a Tax Credit for up to 50% of their contribution to employee premiums by filing Form 8941, Credit for Small Employer Health Insurance Premiums. Get detailed HTML based instructions on Form 8941 from the IRS, simplified instructions ObamaCare’s employer tax credit form can be found below. What is Form 8941, Credit for Small Employer Health Insurance Premiums?… Read More
ObamaCare decreases the deficit and debt with cost controlling provisions and taxes, but subsidies, protections, and healthcare spending may result in more debt over the long term if no further changes are made. UPDATE 2019: This page was created in 2015, numbers have been revised since this was written. So the logic remains the same, but the specific numbers need to… 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
Cost-sharing in health insurance is your share of costs (copays, coinsurance, deductible, out-of-pocket maximum) for covered benefits in a policy period. Typically cost-sharing does not apply to Premiums, uncovered costs, or balance billing. TIP: In simple terms, cost-sharing describes your share of the costs vs. your insurer’s share of the cost in respect to your… Read More
ObamaCare’s Platinum Plan is a type of Metal Plan on the Health Insurance Marketplace. Platinum Plans qualify for Tax Credits and have the highest premiums. Other Metal Plans include Bronze, Silver, and Gold. Also, a Catastrophic Plan is available to young adults and to some people with hardship exemptions. Platinum plans have the highest premiums and the lowest cost-sharing. They only make… Read More
ObamaCare’s Gold Plan is a type of Metal Plan on the Health Insurance Marketplace. Gold Plans qualify for Tax Credits, have high premiums, and generous cost-sharing. Other Metal Plans include Bronze, Silver, and Platinum. Also, a Catastrophic Plan is available to young adults and to some people with hardship exemptions. Gold plans mean higher premiums, less Tax Credits, but much… Read More
ObamaCare’s Bronze Plan is a type of Metal Plan on the Health Insurance Marketplace. Bronze Plans qualify for Tax Credits and have low premiums. Other Metal Plans include Silver, Gold, and Platinum. Also a Catastrophic Plan is available to young adults and to some people with hardship exemptions. All plans offer basic benefits and minimum cost-sharing, Bronze Plans tend… Read More
ObamaCare’s Silver Plan is a type of Metal Plan on the Health Insurance Marketplace. Silver Plans qualify for both Tax Credits and Cost-Sharing subsidies. Other Metal Plans include Bronze, Gold, and Platinum. Also, a Catastrophic Plan is available to young adults and to some people with hardship exemptions. HealthCare.Gov, or your state’s Marketplace in states that don’t… Read More
The Forms Needed if You Got Marketplace Tax Credits Under the Affordable Care Act (ObamaCare) Find out how to fill out Premium Tax Credit Form 8962, the form for reporting ObamaCare Tax Credits. We’ll review MAGI, FPL, and Adjusting credits. The form can seem daunting at first, but by understanding what all the fields mean,… 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 Insurance Deductible? Your health insurance deductible is the amount you have to pay out-of-pocket for covered services before your insurance begins to pay. It doesn’t include premiums or costs that aren’t covered by your plan. Once you meet your deductible, your plan will pay its share of your coinsurance. TIP: Your maximum deductible… Read More
How Do Cost Sharing Reduction Subsidies Work? ObamaCare’s Cost Sharing Reduction Subsidies (CSR) lower out-of-pocket costs, based on income, for Silver plans bought on the Health Insurance Marketplace. Along with Premium Tax Credits, ObamaCare’s Cost Sharing Reduction subsidies lower what you pay for out-of-pocket costs like deductibles, copays, and coinsurance, making health insurance coverage more affordable and… Read More