Health insurance is becoming more costly and more confusing. As an informed consumer, you should know the most common terms and definitions in your health plan. A premium is the payment you make to the insurance company to keep your health plan active. If your health insurance is through your employer, the premium is most likely deducted from your paycheck during the benefit year, i.e., a consecutive 12 months of insurance coverage. Your annual accruals of your deductible and out-of-pocket … [Read more...] about Simplifying Common Health Insurance Terms
Health Insurance
IRS Change May Affect the Individual Mandate for Health Insurance
The Internal Revenue Service (IRS) has signaled a change in how it monitors compliance with the Affordable Care Act’s (ACA) individual mandate. Under this change, tax returns will no longer be automatically rejected if they do not certify whether the individual had health insurance for the year. The new IRS policy on accepting “silent returns” is based on President Donald Trump’s executive order directing federal agencies to provide relief from the burdens of the ACA. However, this change is … [Read more...] about IRS Change May Affect the Individual Mandate for Health Insurance
Creative Health Insurance Plan Proving Beneficial To Local Charter School
Small businesses are relentlessly efficient and public charter schools take efficiency to an even higher level. Therefore, when assisting a small business with their employee benefits, creativity is key, especially when it comes to one of the biggest ticket employee benefit expenses; health insurance. As Pine Forest Charter School has learned, exploring all options can lead to rewards. One strategy that is not frequently explored or implemented is partially self-funded health … [Read more...] about Creative Health Insurance Plan Proving Beneficial To Local Charter School
