Archive for the ‘Self-employed Health Insurance’ Category

Open Enrollment and Special Enrollment Periods

One VERY significant change to the individual health insurance market made by The Affordable Care Act (ACA, Obamacare) is the implementation of open enrollment and special enrollment periods.  Prior to the ACA, an individual could purchase health insurance from an insurance carrier anytime, but the insurance carrier could reject an application, based on a pre-existing condition of the applicant.

Open Enrollment and Special Enrollment Periods

The ACA bans insurance carriers from denying applications based on pre-existing conditions, so without a stricter enrollment period, consumers could simply wait until they were stricken with a severe condition to purchase health insurance.  This is referred to as “adverse selection”, and defined open enrollment periods attempt to limit such negative statistics for insurance carriers.

Health Insurance When Working For A Temp Agency

Kelley-Jensen2Author:  Kelley Filice Jensen

I work for a temp agency that calls me when they have an assignment.  I never know how many hours I am going to work in a given month, but one assignment can keep me at a Company for 6 months, it just depends.  Right now I have no health insurance, but would like to get some, starting in 2014, with the new law.  Can I get it through the temp agency, one of the company’s I have been assigned to, or do I have to buy it myself? 

Health Care Tax Credit Update, IRS Outreach to Small Businesses

The Health Reform Law, the Patient Protection and Affordable Care Act, signed by President Obama on March 23, 2010, gives a tax credit to certain small employers that provide health coverage to their employees, effective for tax years beginning in 2010. As the tax filing extension deadlines near, the IRS and the Department of Health and Human Services (HHS) announce a new round of outreach to Small Businesses and Practitioners about the small business health care tax credit.

Questions and Answers about the Health Care Tax Credit

The Health Reform Law, the Patient Protection and Affordable Care Act, signed by President Obama on March 23, 2010, gives a tax credit to certain small employers that provide health coverage to their employees, effective for tax years beginning in 2010. As a small business owner, what does this mean to you? Are there real tax savings from providing health insurance coverage to your employee? Maybe. Use the following as your guide when talking to your tax preparer:

How does this affect the normal business deduction for expenses paid for employee health insurance premiums?

Getting Your Adult Children Off Your Health Care Plan

One of the first changes of health care reform (The Patient Protection and Affordable Care Act) effects people under the age of 26. Previously, once a person turned 19 and was no longer a full time student, he could not be covered under his parents’ health care plan. What this meant is that people in their 20’s often went uninsured. Click here to learn who is a dependent for health insurance purposes. However, effective September 23, 2010 a person can remain on their parents’ health insurance plan until the age of 26. That is certainly better than being uninsured, but it is the most affordable option for parents? Probably not. Compare health insurance rates now. Here is the case for getting young adults their own health insurance plan:

HELP!! MY COBRA SUBSIDY IS SET TO EXPIRE!!!

Right now, many individuals are at a crossroad when it comes to their health insurance.  During this exasperating recession, people found themselves laid off from their jobs suddenly, and, in a scramble, elected to stay on their former employer’s health insurance plan through COBRA instead of finding alternatives to COBRA health insurance.

Employee, Freelance worker, Independent Contractor….What am I and why do I care?

Work has never been so complicated.  Do you WORK at a Company, or DO work for a Company?  While this might seem like nothing but semantics, the difference in your employment status is real and relevant in almost every way, for both you and the Companies you conduct business with.  Your classification as an employee, or a freelance worker, also known as independent contractor, determines your payment of taxes, the type of taxes you pay, you eligibility for health insurance and other benefits, and, in many cases, your very wages.

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