For the last 15 years, my family has purchased an individual health insurance policy. Individual plans, as opposed to employer-based insurance, usually don’t cover vision. We could buy a separate vision policy, but in an average year the premiums would cost more than our annual eye exams, glasses and contacts combined.
Even Medicare doesn’t pay for routine eye exams and corrective lenses, except one pair after cataract surgery.
During the presidential campaign last year, Paul Ryan, the vice-presidential candidate, presented his plan for what we all know is much-needed Medicare reform (too many baby boomers; too little money). Under his plan, seniors would choose a “Medicare certified” private health insurance plan and, depending on the senior’s income, a percentage of the premium would be subsidized.
His plan sounds a lot like the new health insurance exchanges that are … read on
Last fall I blogged about an inherent unfairness in our health insurance system. (I know, there’s more than one.) In short, those with employer-sponsored insurance (ESI) generally have lower premiums, lower out-of-pocket costs, and better coverage than those of us that buy health insurance through the individual market.
With the new insurance exchanges, the Affordable Care Act (ACA) is supposed to decrease costs and improve coverage. Because of the law’s … read on
So I went to Healthcare.gov, the official website of the Affordable Care Act (ACA) and found the expanded list of essential benefits/preventive services for women that went into effect on August 1, 2012. Breast pumps, listed under “Breastfeeding Support, Supplies and Counseling,” are indeed considered … read on
The Pre-Existing Condition Insurance Plan (PCIP) was created by the health reform law and enacted in 2010 to provide coverage for low and moderate-income people who could not buy health insurance because of a pre-existing condition—the “uninsurables”.
The plan was to be funded through 2013 until the law’s signature provision—that insurers could no longer exclude those with pre-existing conditions—kicked in on January 1, 2014.
I posted a couple weeks ago that health insurance companies wanted to increase the penalty I mean tax on people who ignored the individual coverage mandate. The companies fear the penalty tax, only $95 the first year, is not stiff enough.
Well, according to recently released information from the IRS and the Department of Health and Human Services (overseers of the health law), the insurance companies have cause for worry. … read on
Yesterday, the IRS finally began processing 2012 tax returns.
In 2014, if and when you apply for individual health insurance through one of the state-run exchanges, it will be important to know your 2012 income. Why? Because that figure will determine whether or not you will be eligible for a federal tax credit to help cover the cost of premiums.
Starting in 2014, one of the signature features of the Affordable Care Act (ACA) will be implemented: No adult with a pre-existing condition can be denied health insurance.
But it seems from recent news reports that both the administration and the nation’s health insurance carriers are getting a little nervous about exactly how much that will cost and whether sufficient funds will be available.
In theory, the individual mandate ensures … read on
I read with concern yesterday that one of the victims of the recent fiscal cliff deal was the program funding the creation of new non-profit health insurance carriers. Consumer Operated and Oriented Plans, CO-OPs for short, were meant to provide some much-needed competition to the private carriers on the health insurance exchanges and keep premiums more affordable.
At least, that was the theory.
But now Congress has sliced the program’s … read on