by Admin | Jan 3, 2026 | Insurance News
Health Savings Accounts (HSAs) are a powerful tool for managing healthcare costs while enjoying tax benefits. To qualify, you need to meet specific IRS rules, including enrollment in a High Deductible Health Plan (HDHP). Here’s what you need to know: Triple Tax...
by Admin | Jan 3, 2026 | Insurance News
Administrative costs in group health plans are a major expense, consuming 25–33% of healthcare spending in the U.S. For employers in Illinois, controlling these costs is critical to offering competitive benefits while managing rising expenses. Here are five practical...
by Admin | Jan 3, 2026 | Insurance News
If you’re paying for Medigap premiums, you might be able to deduct them on your taxes. Here’s the quick answer: Medigap premiums qualify as medical expenses, but you can only deduct them if your total unreimbursed medical expenses exceed 7.5% of your...
by Admin | Jan 3, 2026 | Insurance News
Calculating your household income accurately is critical when applying for ACA (Affordable Care Act) health plans. It determines your eligibility for subsidies, tax credits, or Medicaid. The key is to use Modified Adjusted Gross Income (MAGI), which starts with your...
by Admin | Jan 3, 2026 | Insurance News
If you live in Illinois and need health insurance through the Affordable Care Act (ACA), here’s what you need to know: Open Enrollment Period: Runs from November 1, 2025, to January 15, 2026. This is your chance to apply, renew, or change your health plan for the next...
by Admin | Jan 3, 2026 | Insurance News
Health Savings Accounts (HSAs) offer a triple tax advantage: tax-free contributions, growth, and withdrawals for medical expenses. For Illinois residents, HSAs can significantly reduce healthcare costs while lowering taxable income. Here’s a quick breakdown: Tax...
Recent Comments