Health Insurance Marketplace (Exchange) Premiums for 2014 – Released by HHS September 25, 2013. This report summarizes the health plan choices and premiums that will be available in the Health Insurance Marketplace. It contains new information, current as of September 18, 2013, on qualified health plans in the 36 states in which the Department of Health and Human Services (HHS) will support or fully run the Health Insurance Marketplace in 2014. [NCSL Note: this omits all 14 state-run exchanges.] Plan data is in final stages but is still under review as of September 18 and may be revised in HHS systems before being displayed for consumers, so this information is subject to change. This analysis also includes similar information that is publicly available from 11 states and the District of Columbia that are implementing their own Marketplace. This report focuses on the plans with the lowest premiums in each state, as consumers are expected to shop for low-cost plans. Nearly all consumers (about 95%) will have a choice of 2 or more health insurance issuers (often many more) and nearly all consumers (about 95%) live in states with average premiums below earlier estimates. Online Printer friendly version in PDF format (15 pages).
Rate Shock: In California, Obamacare To Increase Individual Health Insurance Premiums By 64
The author has done a lot of analysis but failed to do research. However he is equally guilty of comparing apples to oranges and clearly has group coverage. Any individual who applies for insurance on E-health or one of the large nationals, NEVER gets the cheapest rate. It is a teaser rate or only for those in perfect health which simply does not exist. You cannot lie on the application due to the pre-existing clauses which will result in NO coverage at all shld. you have a health mishap due to your condition. The insurance companies ALWAYS add a risk premium to the lowest rate offered (BAIT and SWITCH) just like some car dealers and one always pays $80 plus or more depending on the risk factors the insurers add such as age, hypertensive, location, amount of meds you are currently one and so on. I was 51 in 2009 and applied for catastrophic insurance with Anthem BCBS in Ga. and the rate advertised was $130 or something but after the application I ended up paying $260 a month. Another co. would only provide insurance to me if I signed a WAIVER of coverage for a pre-existing condition for life. I applied to 4 different insurers and each time the advertised premium was not available to me and only for someone in perfect health.
COBRA Health Insurance Continuation Premium Subsidy
In addition, the COBRA subsidy is available to people who become eligible for COBRA coverage as a result of a reduction in hours occurring between Sept. 1, 2008, and May 31, 2010, followed by an involuntary termination between March 2, 2010 and May 31, 2010. If you fall into this category, your subsidy is available starting with the first period of coverage beginning after the involuntary termination. Individuals who did not take COBRA coverage after the reduction in hours or who signed up but later dropped it, get another chance to sign up for COBRA coverage. In this case, the COBRA coverage would begin with the first period of coverage after the involuntary termination and continue up to 18 months after the reduction in hours. The administrator of a group health plan or other entity must provide notice of the new election right after the involuntary termination. As in the case of other assistance-eligible individuals, the subsidy ends after the earliest of 15 months, the end of COBRA coverage, or eligibility for other group health or Medicare coverage.
Family Health Premiums Rise 4 Percent to Average of $15,745 in 2012, National Benchmark Employer Survey Finds
Now in its 14th year, the survey is a joint project of the Kaiser Family Foundation and the Health Research & Educational Trust. The survey was conducted between January and May of 2012 and included 3,326 randomly selected, non-federal public and private firms with three or more employees (2,121 of which responded to the full survey and 1,205 of which responded to a single question about offering coverage). A research team at Kaiser, HRET and NORC at the University of Chicago, led by Kaiser’s Gary Claxton, designed, conducted and analyzed the survey. For more information on the survey methodology, please visit the Survey Design and Methods Section at http://ehbs.kff.org.
Publication 502 (2013), Medical and Dental Expenses
Free help with your tax return. You can get free help preparing your return nationwide from IRS-certified volunteers. The Volunteer Income Tax Assistance (VITA) program helps low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers. The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. Most VITA and TCE sites offer free electronic filing and all volunteers will let you know about credits and deductions you may be entitled to claim. In addition, some VITA and TCE sites provide taxpayers the opportunity to prepare their own return with help from an IRS-certified volunteer. To find the nearest VITA or TCE site, you can use the VITA Locator Tool on IRS.gov, download the IRS2Go app, or call 1-800-906-9887.
Health Insurance Premiums
Consider high-deductible, catastrophic care insurance. These plans have much lower premiums and work well for people who are mostly healthy. If you choose one of these plans, you can also choose to use a Health Savings Account which is a way to make your health expenses tax-deductible and helps you save the money you may need later for health expenses. It also helps you limit the amount that gets sent to the insurer in the form of premiums.