A New Job Doesn’t Mean A Qualifying Event

/ / All Posts, Did You Know?

When the Affordable Care Act started, health insurance enrollment was limited to a three month cycle each year. For 2016 open enrollment is November 1st, 2015- January 31st, 2016, with the first date of coverage able to start on January 1st, 2016. Any enrollment outside of that time has to be triggered by a qualifying event (QE). Although, many Americans find themselves in a rock in a hard place as they are outside of employment and believe that they can get coverage when they start their new job. Unfortunately a new job is not considered a qualifying event. As a Colorado health […]

A New Job Doesn’t Mean A Qualifying Event Read More »

What Is A Section 105 Plan?

/ / All Posts, Did You Know?, Health Insurance

When the Affordable Care Act (ACA) was passed there was a lot of confusion on what companies could or could not pay for when it came to individuals health insurance plans. As employer sponsored health plan prices continue to rise companies needed another option. A section 105 plan enables employers to reimburse employees tax-free for their own individual health plan. According to Zane Benefits, “Section 105 plans are a tax-advantaged employee benefit as outlined in the Internal Revenue Code section 105.” For an employer this means, reimbursements are tax-deductible and payroll taxes (FICA/FUTA) are lowered. This option is much better

What Is A Section 105 Plan? Read More »

Did You Know, Not All Doctors are In Network?

/ / All Posts, Health Insurance

You enroll in your health plan and choose an option that is affordable and seemingly everything you are looking for, but is it really? I come from personal experience when I discuss this as I was extremely naive to how health coverage works when I first started working in this industry. I received my health cards last year and noticed a doctor printed on my card but failed to look at the fine print. I thought nothing more of what was printed on my card.  A few months later I was sick and needed to see a doctor, so I called a

Did You Know, Not All Doctors are In Network? Read More »

Largest Insurance Merger in History

/ / All Posts, Health Insurance, In The News

Last Friday news was buzzing with the announcement that Cigna and Anthem will in fact be merging. The $54B deal won’t be finalized without Federal approval, but after long awaited negotiations an agreement has been met. Currently there are five major health insurance carriers, Aetna, Cigna, Anthem, United Healthcare, and Humana. Although three weeks ago Aetna acquired Humana bringing the large carrier count to four. Now this merger takes the count down to three. Speculation as to why these carriers feel the need to merge has been a heightened topic, but a substantial reason has yet to presented itself. Dan Diamond who

Largest Insurance Merger in History Read More »

The ACA is Under a Magnifying Glass

/ / All Posts, In The News

The Affordable Care Act is being looked at by government officials and agencies this week. When the law was implemented a large amount of tax funds were allocated to different programs. Subsidies were given, co-ops were started, and state based exchanges went into operation. Now the ACAs use of funds is being looked at with a fine tooth comb. The Government Accountability Office (GAO) created fictitious enrollments to see how well the system works in providing subsidies to Americans. The problem was eleven out of twelve of those accounts were approved for subsidies with fake documentation, which means the system failed

The ACA is Under a Magnifying Glass Read More »

Scroll to Top
Scroll to Top