On Thursday, April 22, 2010, Reuters reported that "WellPoint ... has specifically targeted women with breast cancer for aggressive investigation with the intent to cancel their policies..." Wellpoint responded today by saying that "this is simply wrong." Interestingly, as I write this, the Reuters article with the allegations has [...]
The IRS has just issued preliminary guidelines on the health insurance tax credit for small businesses - and it looks good. This will make the cost of health insurance more affordable for many small employers. Of major importance is that the owner's wages/salary are not included in the average wage calculation when determining one's eligibility to qualify for the credit. (See answer to questions 13 & 14 in the IRS FAQ.) Businesses with fewer than 10 employees whose average wages are $25,000/yr. or less will qualify for the full credit. The medical insurance tax credit gradually reduces but is available to employers with fewer than 25 employees and average wages that are less than $50,000/yr. If these new guidelines apply to your small business, read on for a basic explanation of how to calculate the tax credit.
California health insurance companies are welcoming the second decade of the 21st Century with huge rate increases for small employers (2-50 employees). The largest rate increases are on the HSA (Health Savings Account) compatible plans. For their part, the health insurance companies blame the increases in the HSA plans [...]
Aetna announced that on August 7, 2009 they will send a notice to former employees of their small business clients, terminated from employment between September 1, 2008 and May 10, 2009, advising them that they may be eligible for the Federal Subsidy for COBRA continuation of their health insurance. [...]
In the California small group health insurance market Health Net's HMO plans are always well priced. Effective August 1, 2009 for groups located in Los Angeles their Elect Open Access HMO plan will be 5 percent less expensive than the Health Net Standard Option HMO. The Standard and the [...]
With summer and graduation upon us, we wanted to help people understand issues related to college health insurance. Incoming freshmen have different concerns than recent grads; who have different needs than graduate students and we've written an article for each situation. Parents of these students will also find these [...]
Anthem Blue Cross of California announced that they will be making major changes to their small group health insurance plans effective July 1, 2009. Specifically, they will be adding 14 new plans. Beginning January 1, 2010, Anthem Blue Cross will discontinue 9 plans. Anthem calls their entire portfolio of [...]
Blue Shield of California has announced that they will raise rates on many of their individual and family plans effective July 1, 2009. The rate increases state-wide range from +7% for the Vital Shield plans; +14-15% for the Balance Plans; and a whopping +23-24% for the Essential 1750 plan. [...]
Many people ask "why is health insurance so expensive?" The obvious answer is that medical care is expensive. Then, why is medical care so expensive? Dr. Atul Gawande has written a seminal piece in the New Yorker that answers this vexing question. The article, entitled, The Cost Conundrum, explores [...]
Tomorrow, June 1, 2009, Senator Kennedy is supposed to release the report of the Senate Health, Education, Labor and Pension (HELP) Committee's recommendations for comprehensive reform of the health care & health insurance system. Word has it that the Obama administration wants to pass health insurance reform legislation in [...]