As a result of the COVID-19 pandemic, high deductible health plans (“HDHPs”) can provide coverage for COVID-19 testing and treatment before the minimum deductible is satisfied without jeopardizing an individual’s ability to have tax-favored contributions made to their health savings account (“HSA”). This relief remains in effect pending future IRS guidance. On June 24, 2023, […]
The latest Illinois insurance news.
Illinois is set to run it’s own insurance marketplace to counter soaring costs of health plans sold on the federal Affordable Care Act marketplace. On Tuesday, Governor JB Pritzker signed into law health care priorities backed by democrats, including a new state-based marketplace and rate review. Illinois residents currently access the federal health care marketplace […]
Illinois Health Agents Inc. has been recognized by the Health Insurance Marketplace® as a member of the 2023 Marketplace Elite Circle of Champions for helping consumers gain qualified health coverage for an 8th consecutive year. This Centers for Medicare & Medicaid Services (CMS) award highlights Illinois Health Agents’ success in actively enrolling 100 or more […]
The No Surprises Act will took effect on January 1, 2022. This act protects consumers from surprise medical bills, whether they receive coverage through their employer (including a federal, state, or local government), through the Health Insurance Marketplace, or directly through an individual health plan. According to federal estimates, it will apply to 10 million […]
New for 2022: an ongoing Special Enrollment Period (SEP) for eligible individuals whose income falls at or below 150% of the Federal Poverty Level (FPL).
Key Points: If a person’s income does not exceed 150% of the federal poverty level, they might be eligible for a Special Enrollment Period. This special enrollment period does not have limitations on how often it can be used, or the type of health plan that can be selected. Client has to be eligible for […]
Low-income Americans who missed signing up for 2022 Affordable Care Act coverage can now enroll in plans with $0 premiums through the federal exchange’s website. Those with incomes less than 150% of the federal poverty level — $19,320 for an individual and $39,750 for a family of four — can select policies on healthcare.gov through […]
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 programs. Part A, Hospital Insurance (HI), which covers inpatient hospital services, skilled nursing facilities, home healthcare, […]
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 signed by President Biden on Friday, nearly all those who buy their own […]
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. Some come in so sick they go right to intensive care. Some don’t survive. “We’re in a bad […]
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). […]