Category: Health Insurance
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2017 Trends in health insurance enrollment
These past few weeks at Freedom Benefits I’ve noticed an increase in enrollment related activity of health insurance enrollments for immigrants. I can’t explain that. and I do not know if it is related to recent political news. With the deadline for HRA plan setup approaching on March 30, I am receiving more calls and in…
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More highlights of the Republican health plan
These notes are gathered from the 66 page “Budget Reconciliation Legislative Recommendations Relating to Repeal and Replace of the Patient Protection and Affordable Care Act” are based on the health plan proposal that was released today. In general, this turns regulation of public health care requirements over to states but requires that they operate within prescribed program…
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First look at the Republican health plan
I just finished skimming the 106 page discussion draft of the Republican health plan. I probably understand less that 5% of it but am able to make a few observations. This draft is difficult to comprehend because of the many references to current sections of law. It will take awhile before a third party readable explanation…
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HRA or HSA
comparison chart of Medical Savings Accounts, Health Savings Accounts and Health Reimburesement Accounts
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Small Business HRA for 2017
Note added after first publication: The deadline for starting a HRA for retroactive tax treatment is March 30, 2017. HRAs can be started any time for expenses in the future. The most significant tax change affecting small businesses in 2017 is the liberalization of certain types of Health Reimbursement Arrangements (HRA) under the American Cures Act enacted in December 2016.…
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Health care planning for small businesses: 2017
This commentary is based on the February 10 draft outline of the Republican health plan that has not yet been presented to Congress. Of course we expect details to evolve. For fast immediate solutions during the transition period, see my post “Alternatives to Obamacare“. If you operate a small business then proposed changes to health care legislation…
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Alternatives to Obamacare
What are consumers doing right now? I had a great telephone conversation with an experienced health insurance executive today. We talked about the hottest topic in the insurance industry: consumer alternatives to Obamacare. I mentioned that I’ve noticed increased consumer demand for products like Core Health Insurance that do not meet Obamacare standards. We discussed that:…
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Limitations on free tax preparation for 2016 returns
Each tax season I am pleased to prepare some individual tax preparation services for n fee except the filing fee. My online filing service provider’s fee is $20 per return so the tax filer must cover this cost. My offer is usually made to a small number of middle income neighbors as a way to promote my…
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New approach to break the health care reform impasse
Patient Freedom Act of 2017 A new bill to break the health care impasse is introduced today. WSJ reports “Sen. Collins, a Maine Republican, will answer that question publicly Monday when she introduces a bill with Louisiana Republican Sen. Bill Cassidy aimed at breaking the party’s logjam over the repeal of the Affordable Care Act…
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Fantastic opportunity to save on taxes and insurance
Great news for health care costs: Small businesses can immediately combine the benefits of the the recent December 13, 2016 federal health care law with Trump’s new January 20, 2017 executive order to save money on health insurance and taxes. The new law reverses prior IRS positions to give us new opportunities for savings. The…