Losing coverage is a covered event for special enrollment. Losing coverage can be a qualifying event for special enrollment. This means that if you lose health insurance coverage, you can sign up for a new plan outside of the open enrollment period. Losing coverage can occur in a variety of situations, such as when you…
If you’re healthy and have limited income, catastrophic health insurance can be an affordable option. However, it’s important to understand the limitations of this type of coverage before you enroll. What is catastrophic health insurance? Catastrophic health insurance is a type of health insurance that has a high deductible. The deductible is the amount of…
Marrying is a momentous occasion, and it’s important to consider how it may impact your health insurance coverage. If you’re like many couples, you’re probably wondering what your options are and how to navigate the Affordable Care Act (ACA). Here’s a comprehensive guide to help you understand your coverage options after marriage and how they…
A Detailed Examination of ACA Health Insurance and Mortgage Timing Introduction Planning for retirement involves multiple financial considerations, including the impact of mortgages. This blog explores the complexities of mortgage timing and its implications on Affordable Care Act (ACA) health insurance, providing valuable insights into the financial choices individuals face in preparation for their post-work…
Navigating the complexities of ACA health insurance can be daunting, especially when faced with the choice between employer-sponsored plans and Marketplace options. While employer-sponsored plans offer convenience and potentially lower premiums, they come with certain limitations that may not align with everyone’s needs. Understanding Employer-Sponsored Plans Employer-sponsored health insurance plans are offered by employers to…
The Affordable Care Act (ACA) marketplace offers a special enrollment period, a time when you can enroll in health insurance outside of the regular open enrollment period. This is a crucial provision for those who experience certain life events that qualify them for special enrollment. Qualifying Life Events for Special Enrollment Losing your health insurance…
Like many individuals, you may be saving for retirement with the goal of achieving financial independence. However, it’s crucial to consider your future health insurance costs when planning your retirement strategy. The cost of health insurance can vary widely depending on your age, health status, and location. According to a 2019 study, the average annual…
Introduction The Affordable Care Act (ACA) has brought about significant changes in the health insurance landscape, providing various options for individuals to obtain affordable health coverage. One option that has gained attention is the availability of college-based ACA health insurance plans. These plans offer a unique opportunity for students and individuals to secure comprehensive health…
Navigating Healthcare Costs and Considerations when Entering Early Retirement Financial Independence, Retire Early (FIRE) is a popular strategy for achieving financial freedom. However, the transition to FIRE often requires careful planning, especially regarding healthcare expenses. This blog post will explore the importance of healthcare planning during FIRE and provide insights into navigating ACA insurance options….
Have you ever wondered how you’re going to pay for your retirement expenses when traditional retirement savings methods, like 401(k)s and IRAs, might not be enough? That’s where Qualified Longevity Annuities (QLACs) come in. In this blog, we will dive into the world of QLACs and provide you with valuable information on what they are,…
The Affordable Care Act (ACA), also known as Obamacare, has brought about significant changes to the US healthcare system. However, with any significant change, there are bound to be challenges. One of the challenges many people have faced is navigating the complexities of enrolling in and managing their ACA health insurance. One common issue that…
The Affordable Care Act (ACA) has been a game-changer in the insurance landscape, particularly in the health sector. While some individuals may have experienced premium increases, it’s crucial to understand the complexities behind these changes and the overall benefits of the ACA. What is the ACA? The ACA, also known as Obamacare, is a comprehensive…
Understanding the Basics of ACA The Affordable Care Act (ACA), also known as Obamacare, aims to provide affordable health insurance coverage to all Americans. One of the key features of the ACA is the availability of premium subsidies to help individuals and families pay for their health insurance premiums. Impact of 1099 Income on ACA…
Applying for ACA health insurance can be straightforward for some, but for others, it can be a bit confusing, especially when trying to determine how to include Social Security income. This blog will specifically focus on how to calculate Social Security income for ACA marketplace applications. What is ACA Health Insurance? ACA, also known as…
When your dependent child turns 18, you may wonder how their income impacts your family’s Affordable Care Act (ACA) subsidy. And depending on their earnings, you may question if they should contribute to a Traditional IRA or a Roth IRA. Can Traditional IRA Contributions Lower Household Income for ACA Subsidies? Yes, contributions to a Traditional…
Navigating the complexities of health insurance can be overwhelming, especially when it comes to understanding out-of-pocket costs. One common question that arises is: Do you have to meet your deductible before your insurance kicks in? In this blog, we will explore this topic in detail, providing you with the knowledge you need to make informed…
The Affordable Care Act (ACA), also known as Obamacare, provides health insurance coverage options for individuals who are not eligible for employer-sponsored health insurance or government programs like Medicare or Medicaid. Early retirees who are under 65 years old and do not have access to other forms of health insurance may qualify for ACA coverage….
Introduction Understanding health insurance can be a daunting task, especially when navigating the complexities of the Affordable Care Act (ACA) plans. This blog aims to unravel the intricacies of ACA insurance, providing a comprehensive guide to help you understand its costs, coverage, and affordability. Understanding ACA Plans The ACA, also known as Obamacare, expanded health…
An overview of the ACA and its implications on coverage cancellation The Affordable Care Act (ACA) has brought about significant changes to the health insurance landscape in the United States. One important aspect of the ACA is its provisions regarding coverage cancellation. This blog will delve into the topic of coverage cancellation in the context…
Health insurance is a complex topic, and understanding the different components is essential to making informed decisions about your coverage. One of the most important concepts to understand is the deductible. What is a Deductible? A deductible is the amount you must pay out-of-pocket for covered medical expenses before your insurance coverage begins. For example,…
Introduction The Affordable Care Act (ACA), also known as Obamacare, has been a topic of discussion since its implementation in 2010. While the ACA has provided health insurance coverage to millions of Americans, there are still misconceptions and concerns surrounding the law. In this blog, we will explore some important aspects of ACA insurance to…
What is Coinsurance? Coinsurance is a type of cost-sharing arrangement in an ACA health insurance plan where you pay a percentage of covered medical expenses after meeting your deductible. The percentage you pay is known as your coinsurance rate, which can vary depending on your plan. How Coinsurance Works Before your coinsurance kicks in, you…
Dental Insurance and ACA Compliant Plans: Understanding the Coverage Differences Imagine this: You’ve been experiencing persistent jaw pain, and your healthcare provider recommends an MRI to rule out TMJ (temporomandibular joint) disorder. You have insurance, but to your surprise, you receive a hefty bill of $1900 after your MRI. You feel cheated and confused, wondering…
The Affordable Care Act (ACA) has led to a number of changes in the health insurance landscape, including the introduction of high-deductible health plans (HDHPs). HDHPs have lower monthly premiums than traditional health insurance plans, but they also have higher deductibles, which means that you have to pay more out of pocket before your insurance…
Introduction: When transitioning between health insurance plans, there may be a period of time when you lack coverage. This can be a stressful situation, especially if you experience an unexpected medical event during the gap. In this blog, we’ll explore the options available to bridge this coverage gap and ensure you have peace of mind…
If you receive a subsidy to help pay for health insurance through the Affordable Care Act (ACA), it’s important to understand how your income affects your eligibility. If your income is lower than you estimated when you applied for the subsidy, you may have to repay some or all of the tax credit. What is…
In the intricate world of health insurance, the Affordable Care Act (ACA) plays a pivotal role. However, navigating its complexities can be daunting, especially for those new to health insurance. One question that often arises is whether it’s better to purchase ACA coverage directly from the insurance provider or through the Health Insurance Marketplace. To…
The Affordable Care Act (ACA), commonly known as Obamacare, has sparked a lot of discussion and controversy since its inception. One of the most prevalent concerns among consumers has been the sticker shock associated with these health insurance plans. In this blog, we’ll delve into the reasons behind this phenomenon and provide valuable insights to…
Imagine this: You go shopping for a new car, find one you love, and sign the paperwork. But then, a few days later, you receive a call from the dealership saying they made a mistake and you’re still responsible for the old car you traded in. Sound confusing and frustrating? That’s exactly what happened to…
Losing a job can be stressful, and it can be even more challenging when you’re worried about losing your health insurance. If you’ve found yourself in this situation, don’t panic. There are options available to help you get the coverage you need. What is the Affordable Care Act (ACA)? The Affordable Care Act, also known…