It’s the middle of June. And while that may have you dreaming of flip flops, sunglasses, and summer, here at Virginia Medical Plans (and in the circles we travel), all eyes are on the King v. Burwell case. By the end of this month we should know whether or not the Supreme Court of the United States (SCOTUS) will strike down subsidies on the federal health insurance exchange based on
Are you self-employed or thinking of becoming self-employed? The Affordable Care Act has made health insurance available to anyone — regardless of current medical status. This means you can purchase coverage for yourself and/or your family on the individual health insurance market — even if you have a pre-existing medical condition. But did you know today’s tax code can save you money if you’re self-employed and you buy health insurance?
If you bought health insurance in 2014 through the federal health insurance marketplace (aka, healthcare.gov) AND you collected a subsidy from the government to help you pay for your coverage, then you should have received a tax form 1095-A in the mail during late January or early February, 2015. IRS Form 1095-A – Health Insurance Marketplace Statement — is new for the 2014 tax season, and provides details of how
You’ve just been given a little more time t0 enroll in 2015 health insurance! Anthem has extended the deadline to enroll in its off-exchange individual health care plans to February 28. Note: if you are eligible for financial assistance, you must purchase coverage through the exchange in order to collect your subsidy. The February 15 open enrollment deadline for exchange plans remains unchanged at this time. Apply for Anthem Coverage
Although time is running out, you CAN still sign up for 2015 health insurance. Open enrollment ends on February 15, 2015. This means you can purchase a new individual or family health insurance plan — for any reason — until that date. Once open enrollment ends, however, you will not be able to purchase 2015 individual or family coverage unless you have a qualifying event. Get Covered Now! Having health
With January behind us, it’s time to start thinking about filing your 2014 income taxes. By now, you should have received most, if not all, of your tax forms and notices from your employer(s), banks, mortgage company, financial institutions, etc. — and, if you bought health insurance on the exchange — the Marketplace. As we posted several weeks ago, the upcoming tax season promises to be complicated for those who
Yes! Open enrollment for 2015 health insurance runs until February 15, 2015. This means you can purchase a new individual or family health insurance plan — for any reason — until that date. Once open enrollment ends, however, you will not be able to purchase 2015 individual or family coverage unless you have a qualifying event. Effective Dates for 2015 Health Insurance The date your 2015 coverage is effective depends
Prior to 2014 and the implementation of the Affordable Care Act (ACA), if you are lesbian, gay, bisexual, or transgender (LGBT), you may have found it difficult to access affordable and comprehensive health insurance. You may have even been denied coverage altogether due to a pre-existing medical condition. But did you know that the new law establishes significant protections for LGBT individuals, making health insurance more accessible than ever before?
If you live in Virginia, an upcoming Supreme Court decision may have you wondering if your health insurance subsidy is in jeopardy. Last year several lawsuits were brought against the government challenging the authority of the IRS to distribute health insurance subsidies to people who buy their coverage on the federal exchange (aka healthcare.gov). The issue was whether or not the language in the Affordable Care Act — which refers
Have you started thinking about filing your 2014 taxes? April 15 may be a few months away, but this year — the first year the Affordable Care Act (ACA) is in effect — filing taxes will be more complicated for millions of Americans. That’s because certain provisions of the new law — namely, penalties and subsidies — will be reconciled at tax time. If you got health insurance through your