Recent Articles
Government announces surprising hike in Medicare Part B premiums
Yikes. As I was extolling the virtues of Social Security’s 5.9% COLA, the Centers for Medicare and Medicaid Services (CMS) announced that they were increasing the premium for Medicare Part B by 14.5%. As a reminder, Medicare is composed of two...
American Rescue Plan Lowers Obamacare Costs Immediately
For this year and next, the stimulus bill boosts subsidies for nearly all those buying their own coverage, making insurance free for more people and giving higher-income people discounts for the first time.Under the stimulus bill passed by Congress this week and...
Illinois is the Nation’s First State to Extend Health Coverage to Undocumented Seniors
As a nurse manager for one of Chicago’s busiest safety-net hospitals, Raquel Prendkowski has witnessed COVID-19‘s devastating toll on many of the city’s most vulnerable residents — including people who lack health insurance because of their immigration status....
Stimulus Package Provides New FSA Carryover Options
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...
Congress Passes No Surprise Billing Act
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...
BCBSIL bosses bag big bucks after unjustified rate increases, staff layoffs….Enough is Enough!
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. Paula Steiner, who stepped down as CEO in July, received total compensation last year of...
IRS Announces 2021 Health Savings Account Contribution Limits, Still Time To Make 2019 And 2020 HSA Contributions
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....
Trump rejects Obamacare special enrollment period amid pandemic
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...
IRS Allows Health Plans to Cover More Treatments Before Deductible Is Met
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...
White House expands HRAs aimed at small businesses
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...