Archive for the ‘Individual Health Insurance’ Category

How to Report Obamacare Health Insurance on Your Taxes

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One of the fun new realities of the Affordable Care Act is that you now will need to include health insurance information in your personal taxes.

Obamacare and taxes

2 Reasons Why Health Insurance Is Reported on Your Taxes

 

1. Fines for violating the coverage mandate. As you probably know, the law now mandates that everyone have an …

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BCBS-SC Rate Increases for “Grandfathered” Plans

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Blue Cross Blue Shield of South Carolina is applying a rate increase to all non-Obamacare individual health insurance policies.

Who Is Affected?

If you have a BCBS individual policy that has been in place since prior to 2014, your rates will go up. (“Grandfathered” plans – those in place before the Affordable Care Act was signed into law in …

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Is Vision Insurance Included in Obamacare?

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Vision insurance for adults is not a mandated coverage, but that doesn’t mean you can’t find it in your health insurance plan. Here are two ways you can get individual or family vision coverage:

1. BlueChoice HealthPlan coverage includes vision coverage for adults.

If you live in South Carolina, you can get vision coverage in your health …

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How to Compare Health Insurance Plans

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Open Enrollment for Obamacare is here.

You know it’s time to choose a health insurance plan for the next year, but there are so many choices it can make your head spin! How can you distinguish between all the plans available? What should you be looking for to find the right plan?

In reality, the plans have …

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When is Obamacare Open Enrollment?

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Here’s something that most people don’t know about Obamacare, but should:

You can only enroll in an individual health insurance plan during the annual open enrollment period.

Outside of open enrollment, it’s impossible unless you qualify for a special enrollment due to losing employer coverage, moving, getting married or divorced, or that sort of thing.

So once open …

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What insurance companies are on the federal marketplace in South Carolina?

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Let’s clear up one point that confuses many people:

The federal government does not offer health insurance as part of Obamacare. The Affordable Care Act simply sets the rules surrounding how health insurance will work and what it covers, and it provides premium tax credits (subsidies to help pay premiums) for those who are eligible.

The health …

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Is child support included in income for premium tax credits?

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By now you probably know that the Affordable Care Act includes a provision that allows for many people to receive help paying health insurance premiums: the premium tax credit.

The premium tax credit is an income based subsidy for those whose annual household income is between 100-400% of the federal poverty limit. The subsidy amount depends …

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What to Do if Obamacare Raises Your Health Insurance Price

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Have you gotten a shocking increase in your health insurance price?

Talk about sticker shock! What can you do about it?

Consumers all over the country are getting letters like this one, which one of our clients received this week.

Why Health Insurance Prices Are Going Up so Much

The big spikes in health insurance prices are mainly hitting people …

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What to do if your CoventryOne plan is going up or going away

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CoventryOne in the Carolinas sent letters to policyholders in the last week or so announcing the end of pre-Obamacare plans.

You were told something along these lines:

Your plan is being eliminated and you’ll need to transition to a new Obamacare-compliant plan.
The price of your plan is increasing (often dramatically higher).

What’s Happening to CoventryOne Plans?

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How to find the best price on prescription drugs

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Prescription benefits are one of the biggest drivers of price in health insurance plans.

Because of the increasing cost of prescription medications, health insurance companies have begun offering plans that do not include a pharmacy copay (or include one for generic drugs only). On such plans, you will typically pay the price the pharmacy has negotiated …

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