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Social Security and Medicare Trustees Reports: Financial Challenges Continue

By |2017-07-26T19:14:22+00:00July 27th, 2017|Categories: Personal Planning|Tags: , , , , , , |

Every year, the Trustees of the Social Security  and Medicare Trust Funds release reports to Congress on the current financial condition and projected financial outlook of these programs. The newest reports, released on July 13, 2017, discuss the ongoing financial challenges that both programs face, and project a Social Security cost-of-living adjustment (COLA)  for 2018. What [...]

Medicare Open Enrollment Begins October 15, 2016

By |2017-05-09T22:14:00+00:00October 7th, 2016|Categories: Personal Planning, Uncategorized|Tags: , , |

Medicare open enrollment period allows you to make changes to your current plan.  What is the Medicare open enrollment period? The Medicare open enrollment period is the time during which people with Medicare can make new choices and pick plans that work best for them. Each year, Medicare plans typically change what they cost and cover. [...]

Medicare Open Enrollment Period Begins October 15

By |2015-10-07T20:30:02+00:00October 7th, 2015|Categories: Personal Planning, Uncategorized|Tags: , , |

Part D late enrollment penalty Generally, if you did not sign up for Part D coverage during your initial enrollment period, and you didn't have other creditable drug coverage (at least comparable to Medicare's standard prescription drug coverage) for at least 63 days in a row after your initial enrollment period, you may have to pay [...]

Health Exchange Open Enrollment

By |2014-11-11T19:32:55+00:00November 11th, 2014|Categories: Personal Planning, Uncategorized|Tags: , |

A major provision of the Patient Protection and Affordable Care Act (ACA) was the creation of state-based and federal Health Insurance Exchanges for individuals and Small Business Health Options Programs (SHOPs) for small businesses. Beginning November 15, 2014, enrollment in Health Insurance Exchanges and SHOPs will be available. The open enrollment period ends February 15, 2015. [...]

U.S. Census Bureau Issues Report on Health Insurance Coverage in 2013

By |2017-05-09T22:13:14+00:00October 1st, 2014|Categories: Personal Planning, Uncategorized|Tags: , , , |

According to the latest Census Bureau report, the estimated U.S. population for the 2013 survey was 313.4 million compared to 311.1 million in 2012, yet the total percentage of uninsured dropped from 15.4% in 2012 to 13.4% in 2013.   The U.S. Census Bureau recently released its report, Health Insurance Coverage in the United States: 2013. [...]

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3 BIG Reasons to Participate in Your Employer HSA-HDHP

By |2017-05-09T22:13:01+00:00February 18th, 2014|Categories: Personal Planning, Uncategorized|Tags: , , , |

What is a HSA/HDHP? HSA/HDHP is a stands for “health savings account/high-deductible health plan”.  In order to open a HSA, one has to be enrolled in a HDHP so the two really go hand-in-hand.   Health Savings Accounts (HSA) were created in 2003 as a part of the Medicare Prescription Drug and Modernization Act.  HDHP’s are health [...]

Can You Keep Your Current Insurance Plan?

By |2013-11-26T16:15:31+00:00November 26th, 2013|Categories: Personal Planning, Uncategorized|Tags: , , , , |

Insurance Cancellations and The President's Response Over the past several months, many people have received cancellation notices from their health insurance carriers, often accompanied by the explanation that their current insurance plan doesn't meet the minimum requirements of the Affordable Care Act (ACA) scheduled to take effect January 1, 2014. In many instances, insurers are offering [...]

The U.S. Government Shutdown Explained

By |2013-10-01T19:26:03+00:00October 1st, 2013|Categories: Personal Planning, Uncategorized|Tags: , , , , , , , , |

Congress failed to agree on a spending bill for the fiscal year starting October 1, 2013, resulting in the first government shutdown since 1995. According to the Congressional Research Service, this is the 18th time the federal government has shut down as a result of a failure to agree on an annual appropriations bill. Most shutdowns [...]

Health Care Reform — Insurance Exchanges

By |2013-09-24T19:20:47+00:00September 24th, 2013|Categories: Business Wise, Personal Planning, Uncategorized|Tags: , , , , , , |

Starting in 2014, the Patient Protection and Affordable Care Act (ACA) requires the establishment of state-based American Health Benefit Exchanges for individuals and Small Business Health Options Program (SHOP) Exchanges for small employers. The general purpose of these Exchanges is to provide a single resource in each state for consumers and small businesses to compare health [...]

Affordable Care Act Notification Penalty as of October 1, 2013

By |2013-09-10T16:24:06+00:00September 10th, 2013|Categories: Business Wise, Uncategorized|Tags: , , , , |

Beginning October 1, 2013 any business with at least one employee and $500,000 in annual revenue must notify all employees by letter about the Affordable Care Act’s health-care exchanges, or face a fine up to $100 per day. This requirement applies to any business regulated under the Fair Labor Standards Act, regardless of size.  Going forward, [...]

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