The IRS issued guidance on whether tax payers should file an amended return once they receive a corrected 1095-A from either the federal or state exchange such as Covered California. You do not need to file an amended return based on your corrected Form 1095-A. This is true even if additional taxes would be owed […]
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Medicare Advantage Plans hit with $2 million in penalties from CMS
Since the beginning of 2015 through April 17th, the Centers for Medicare and Medicaid Services (CMS) have issued over $2 million in penalties on Medicare Advantage plans across the United States. Of the twelve Medicare Advantage plans cited for non-compliance, one had their enrollment activities suspended while the rest were issued civil money penalty. All […]
Why are my children Medi-Cal? Annual vs. Monthly income
Many parents are surprised to learn that their children are placed in Medi-Cal after completing the Covered California health insurance application. Medi-Cal eligibility is determined by the monthly household income, not the annual Modified Adjusted Gross Income. If the monthly household income is below 266% of the federal poverty level (FPL), but above 138% of […]
IRS Publication 974, comprehensive ACA premium tax credit guidance
Publication 974, released by the IRS in March 2015, is a fairly comprehensive review of the ACA health insurance premium tax credit rules. Its release is long overdue as many Americans have struggled to understand how the Advance Premium Tax Credits (APTC) afforded by the ACA interact with their federal taxes. Publication 974 addresses many different […]
Should you sell assets to avoid Medicaid and get ACA tax credits?
Numerous individuals with income below the ACA threshold to receive tax credits must weigh the consequences of selling assets in order to be eligible for the tax credits to purchase a private plan through a Marketplace exchange like Covered California. The prospect of selling retirement assets early in order to qualify for affordable health […]
What is Dental for Everyone?
If you thought health insurance was confusing, try comparing individual and family dental plans. The insurance industry has taken a simple concept and turned it over to their marketing departments which created too many plans without proper explanation. However, most dental plans are surprisingly similar and with a little bit of filtering it is […]
Dental Insurance
California Individual and Family Dental Plans If your health insurance is not through Covered California, and you are either Medi-Cal, Medicare, or in an employer sponsored health plan that doesn’t offer dental insurance, you can enroll in an off-exchange dental insurance plan. Delta Dental Premier Network Plans Delta Dental for individuals and families is offered […]
New ACA special enrollment may not prevent 2015 penalties
It’s great news that both Healthcare.gov and Covered California are offering a Special Enrollment Period (SEP) for individuals that are becoming aware of the individual mandate penalty for not having health insurance. Unfortunately, there will still be individuals and families that enroll during this SEP that will get hit with the IRS Shared Responsibility Payment (SRP) for […]
ACA prompts depression, thoughts of suicide for frustrated individuals
The Affordable Care Act has helped provide health insurance to millions of America’s citizens and residents. The accompanying bureaucracy has also created mental health meltdowns for thousands of individuals and families. Through a series of website glitches, bureaucratic rules and purposely designed narrow provider networks, the ACA is delivering unparalleled amounts of stress, anxiety, and for […]
Should unemployed professionals avoid Medi-Cal?
There has been a strong reluctance among unemployed professionals to enroll in the ACA’s expanded Medicaid or Medi-Cal programs. For most people, being a Medi-Cal member just has a stigma they would rather avoid. However, in certain situations, Medi-Cal can be a great solution to avoiding the high premiums of COBRA while letting the professional focus on getting […]