Ryan Kennelly
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2021 American Rescue Plan Lowers Obamacare Premiums 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 fi...
What is the Difference Between Composite Rates vs Age-Rated Rates?
Insurance companies have two methods for determining premiums: Age-rated rating and composite rating. In Age-rated rating, premiums are based on each member's individual risk level that include fac...
What's the difference between calendar year and group plan year?
The deductible limit is the maximum amount covered in a given year a participant may have to pay before the plan coverage is required to satisfy the full amount of claim(s). A calendar year deducti...
Medicare SEP for Moving: What You Need to Know
If you’re a Medicare beneficiary who’s recently moved, your coverage could be impacted. Fortunately, there is a Special Election Period (SEP) that addresses moving. So you can feel free to move abo...
What Are Medicare Part D IRMAA and Part B IRMAA?
Summary: The Affordable Care Act brought a lot of changes to the Medicare program, including a new Part D premium adjustment for people who reported higher incomes on their tax returns. The income-...
How to Calculate Your Modified Adjusted Gross Income
Your modified adjusted gross income (MAGI) determines your eligibility for important tax benefits, including whether you can deduct contributions to an individual retirement account (IRA) or contri...
Is Child Care HSA Eligible?
Child care is not eligible for reimbursement with a flexible spending account (FSA), health savings account (HSA), health reimbursement arrangement (HRA) and limited care flexible spending account ...
What are the 2021 ACA Rate Increases by Health Plan and State?
Enroll in a 2021 Health Insurance Plan Most premium changes on the ACA marketplaces are modest heading into 2021, even with the uncertainty surrounding the pandemic. Most individual market insurers...
What does TrioMED cover?
TrioMED is three (trio, get it?) types of coverage in one plan. TrioMED provides benefits that help cover out-of-pocket costs associated with the things in life you can’t plan for, like accidents, ...
Can you enroll in a Medigap plan even if you have employer coverage at a large employer, just to be sure?
This would be a waste of money. A Medigap or Medicare Supplement plan cannot pay for anything unless Medicare is your primary insurance. The insurance company’s application will ask if you are sti...