Illinois Health Agents
The latest Illinois insurance news.
President Donald Trump signed a new stimulus bill into law on December 27, 2020 which will provide direct payments to eligible individuals and loans to small businesses, among other things. Among those other things are temporary and optional changes that employers can implement to Health and Dependent Care Flexible Spending Accounts (Health FSAs and Dependent Care FSAs). […]
The Deal to End Surprise Medical Bills Finally Gets Approved Scope Of The Protections Consumers would be protected from surprise medical bills when they receive care in both emergency and nonemergency settings; the protections would extend to out-of-network air ambulances. As a result, patients would be protected from surprise bills in situations where they have […]
Severance pay drove the outgoing CEO’s compensation above $31 million, while the Blue Cross parent also showered cash on her interim successor, the board chairman and other execs. Executive pay keeps climbing at Blue Cross of Illinois’ parent company, even as the health insurance giant lays off workers and looks for a new strategy. The […]
The Internal Revenue Service announced new, higher contribution limits for health savings accounts for 2021 today. You’ll be allowed to contribute $3,600 for individual coverage for 2021, up from $3,550 for 2020, or $7,200 for family coverage, up from $7,100 for 2020. In the meantime, you can still top off health savings account contributions for […]
The Trump administration has decided against reopening Obamacare enrollment to uninsured Americans during the coronavirus pandemic, defying calls from health insurers and Democrats to create a special sign-up window amid the health crisis. President Donald Trump and administration officials recently said they were considering relaunching HealthCare.gov, the federal enrollment site, and insurers said they privately […]
The Treasury Department and IRS added treatments for a range of chronic conditions to the list of preventive-care benefits for which a high-deductible health plan (HDHP) can pay—even if a plan enrollee’s health care spending hasn’t surpassed the plan deductible—without running afoul of the rules allowing pretax contributions to health savings accounts (HSAs). Medical care, […]
The Trump administration is expanding options for employers to use special accounts to help workers buy their own health insurance, upgrade job-based coverage, or choose low-cost plans with limited benefits, officials said Thursday. The tax-free individual accounts are called “health reimbursement arrangements,” or HRAs, and starting next year employees will be able to use them […]
(Bloomberg) — The Trump administration is hardening its legal position toward Obamacare, arguing now the entire law is unconstitutional in a shift that promises to bring the issue to the forefront of the 2020 election campaign. The position is a change for the Justice Department after it argued last year that large parts of the […]
KEY POINTS Amazon will now accept consumers’ health savings and flexible savings accounts. That allows people to contribute a portion of their salary or wages, before taxes, to cover medical expenses that would otherwise be out-of-pocket. Health experts think this is an important step for Amazon as it gets deeper into the health care market. […]
The IRS has announced 2019 HSA contribution limits as part of the release of Revenue Procedure 2018-30. The limits are: HSA 2018 2019 Self-only HSA contribution limit $3,450 $3,500 Family HSA contribution limit $6,900 $7,000 In 2019, the HSA contribution limit will increase to $3,500 for single (an increase of $50) and $7,000 for family (an increase of […]
