Closed Health Insurance Exchanges Make E...

Enroll by December 15, 2015, for Coverage Starting January 1, 2016. If your state’s, Health Insurance Exchange, has closed, enter your zip code, and seek certified, trained insurers for assistance with choosing an, (ACA) Obamacare health plan. With elements like, Open Enrollments, Deductibles, Hardship Exemptions, Co-pays, Coinsurance For Drugs, Coinsurance For Tests, Special Enrollment Periods, Out Of Pocket, Shared Responsibility Payment Tax Penalty, Out-Of-Network Health Care, Health Insurance Subsidies, Supplemental Health Care Options, Catastrophic Plan, COBRA...

Medigap Works With Medicare 2016 For Com...

Medicare doesn’t cover the cost for every service or prescription. To help pay those extra expenses, there is Medigap. Medigap, as a supplemental plan, works with Original Medicare parts A and B.  Part A pays for hospice, home health, hospitals and nursing homes; part B pays for doctor office visits, care on outpatient basis, medical supplies and other services. AARP Media, reports that Medigap is NOT a “one size fits all” situation.  Because the plans can change every year, seek advice from companies that offer the option of reviewing all available...

Paying the Fine

Consumers who do not qualify for tax exemption for the health insurance requirement for 2014 will pay a fine via his or her tax returns. The penalties will be determined by one of two calculations, whichever is greater-$95 per person, per year and $47.50 per child under 18. For a maximum per family the penalty is  1% or; $285 of the yearly taxable household income. For uninsured married couples with two uninsured children under 18 and an adjusted annual income of $55,000, for example, the penalty will be $347. Penalties will increase in 2015 and 2016. Using the same...

New Healthcare laws and 2014 tax laws

The healthcare overhaul, which establishes a new federal income-tax penalties for those who fail to obtain what it deems minimum essential healthcare coverage. In 2014, it was the introductory year for the penalties, which can be owed for the months when qualifying health coverage was not in force.  In IRS talk, the penalties are known as “shared responsibility payments.” You do not have worry about penalties if you and members of your family, (if applicable) had qualifying coverage for all of 201. In this case, you would check the box one line 61 of Form...

Affordable Care Act

The ACA requires most Americans to obtain some kind of health insurance, such as Medicaid, Medicare, Obamacare, or employer-provided insurance, or they will face a fine of 2% of their taxable income. The vast majority of consumers who enrolled are qualified for federal subsidies to help him or her pay for their monthly premiums. The subsidies are available to Americans who earn one to four times the federal poverty level, which is $23,850 for families and $11,670 for individuals. Open enrollment for enrolling into a healthcare plan begin on Nov. 15, 2014 and will end on...