Ryan Kennelly
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What is a “High Deductible Health Plan” (HDHP)?
Sometimes referred to as a “catastrophic” health insurance plan, an HDHP is an inexpensive health insurance plan that generally doesn’t pay for the first several thousand dollars of health care exp...
What is a Qualified Health Plan?
Under the ACA, the designation of qualified health plan (QHP) is given to health insurance plans that are sold in the marketplace (exchange). The same basic rules apply to plans sold both in and o...
Can I Cancel My Dental Plan Anytime?
Generally you can cancel a dental plan at anytime, by not paying, if it’s a stand-alone dental plan. If you have a plan that includes dental, you can switch it during open enrollment, but can’t dro...
What is the 5-star Special Enrollment Period?
If a Medicare Part D or Medicare Advantage plan with a 5-star rating is available in your area, you can use the 5-star Special Enrollment Period (SEP) for a once-a-year opportunity to switch from y...
I am 65, are Medicare Part D premiums qualified medical expenses?
Yes. If an account beneficiary has attained age 65, premiums for Medicare Part D for the account beneficiary, the account beneficiary's spouse, or the account beneficiary's dependents are qualified...
Can I roll over or transfer funds from my HSA to a spouse's HSA?
No. You cannot rollover or transfer an account balance to another person's HSA. This would result in a taxable distribution (i.e., a distribution that was not used for a qualified medical expense)....
Can I open separate HSA accounts for my minor dependent children?
No, you can not open separate HSA accounts for your minor dependent children.
Can I use my HSA to pay for medical expenses in Mexico?
Yes, you can use your HSA funds to pay for medical eligible expenses in Mexico.
I live in an ineligible county that does not offer Wellmark Value Health Plan, but work and receive services a county it is offered. Can I enroll in Wellmark Individual Value Health Plan?
No, only residents living in one of the 36 Iowa counties offering the Wellmark Value Health Plans are eligible to enroll. Working in a county that offers the plan does not make you eligible.
My State Has Not Expanded its Medicaid Program. If I get a Premium Tax Credit (I expect my income will be within the 100 to 400% of poverty range) and Later Have an Income of Less than 100% Percent of Poverty, Will I Have to Pay my Subisdy Back?
The law protects people in your situation. As you note, the health law limits eligibility for premium tax credits to people with incomes between 100 and 400 percent of the 2019 federal poverty leve...