Category: Health Insurance
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A gap in small business advice following the election
For more than 30 years my practice has focused on financial planning for small business on taxes, benefits and health care. We can agree that these are issues in the spotlight right now after last week’s election. Over the past week I’ve read comments by other small business accountants that basically say that it is…
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My potential windfall from the Trump health care reform plan
Trump’s health care reform plans turn out to offer potential career windfall for me. I haven’t considered it in any detail because the election came as such a surprise. In fact, I haven’t even seriously considered the details or impact of the proposed Repeal and Replace Obamacare Act. This blog post simply summarizes the first…
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I’m grateful for a good personal physician relationship
I had a routine annual physical exam recently. My personal physician of more than 30 years spent more than an hour doing various tests and chatting while we caught up and discussed a wide range of topics related to my health. Due to my temporary absence from the local area and other life situation oddities,…
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Rethinking our 2017 health care strategy
Yesterday my wife reminded me that it is time to sign up for our 2017 health insurance plan through her employer and this led to a discussion of the $6,000 deductible plus co-payments that we seem to incur every year in addition to our personal contribution of $8,000 for the “employer-paid” health insurance. And while we…
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A sneak preview of single payer health care
Small businesses and self-employed people have struggled with increasing healthcare costs for as long as I’ve been in practice. We had double-digit cost increases in the late 1980s that triggered me to focus on this issue as a core of my work for the next three decades. But the important point is that we always found…
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Health insurance spike hurts small contractors in PA
Health insurance price increases will hit small business contractors hard next year. A Pennsylvania contractor earning $100,000 per year will pay about $350 more per month. I’ve already heard from Pennsylvania contractor clients facing rate increases of $750 or month and a NJ contractor with more than $1,000 hike in his monthly bill for family…
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How to deal with shock increases in health insurance expense
Shocking increases in health insurance rates for 2017 have many of my small business clients reeling. The problem affects most people who pay for their own health coverage throughout the country. Some states and certain health plans are hit harder than others. The smallest rate increase I’ve seen directly in communications with clients is about…
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Trends in individual health insurance, 2016
In the 19 states that have not expanded eligibility to Medicaid to lower-income individuals, the results of the Affordable Care Act (ACA) are minimal, at least as observed from ‘street level’ among those who are not covered by group or government-sponsored health plans. In Florida, for example, more than half a million remain without health insurance.…
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New Jersey health insurance exchange choices disappear
The New Jersey individual health insurance exchange appears to be on the verge of collapse as one after another insurance companies pull out of the state. The latest is Health Republic. Earlier drop-outs include UnitedHealthcare’s Oxford plans and Oscar. An observer quoted in NJ.com commented “The collapse of the Health Republic Insurance of New Jersey…
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Tips for using the Health Insurance Marketplace
Open enrollment season is fast approaching for 2017 health insurance. I compiled 50+ tips in a new easy to read publication titled “Tips for using the Health Insurance Marketplace“. The 7 page booklet in PDF format is offered free of charge.