Sue Sullivan

TURNING 26 AND LOSING HEALTH INSURANCE ON YOUR PARENTS PLAN?

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The Affordable Care Act permits young adults to remain as dependents on their parents’ group health plan until they turn age 26.

Losing coverage on a parent’s plan when you turn 26 is a qualifying event that triggers a special open enrollment period for individual health insurance, or enrollment in a group plan through your employer if you’re eligible. You have 60 days from your term effective date to enroll in a new individual plan (or 30 to 60 days to enroll in your employer’s group plan).

Have Questions????

Please call us and we would be happy to assist you; 603-647-9136.

MAY IS DISABILITY INSURANCE MONTH

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Are you and your family prepared for a disability? 

Illness and accidents are on the rise in America, causing more workers to miss work and lose income at some point in their lives.  Loss of income can be devastating to workers and their families.

Here are 5 questions you should ask yourself:

  1. What are my necessary monthly living expenses that would continue if my income stopped? Ex., Rent, mortgage, food, utilities, etc.
  2. Would my personal savings pay for my necessary monthly living expenses?
  3. Does my employer have a sick pay plan or long-term disability program?
  4. What other source of income might be available to help me pay for my expenses?
  5. Could I afford my medical Cobra premiums?

Answering these questions is a good start to help you and your family in preparing should a disability interrupt your ability to earn a living.  Take the second step now and call us for more information at 603-647-9136.

Health Insurance Marketplace May Require Additional Information

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The Health Insurance Marketplace may have sent you a notice requesting additional information to validate data on your application.  It is CRITICAL that you respond to the Marketplace with any additional information that they are requesting within the timeframe outlined in their letter.

Failure to provide them with the requested information may result in cancellation of coverage, changes to plan coverage, changes or loss in your current tax credits and possible impacts to your cost-sharing reductions.

Please Note: Termination of coverage due to failure to pay your premiums is not a Qualifying Life Event and would not constitute a Special Enrollment Period (SEP) outside the Annual Open Enrollment Period.

Elliot Hospital to rejoin Anthem’s Pathway Network May 1, 2015

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Anthem Blue Cross and Blue Shield in New Hampshire and Elliot Health System announced Elliot Hospital, Elliot Physician Network, Elliot Professional Services, and Elliot One Day Surgery Center will all rejoin Anthem’s Pathway Network of New Hampshire hospitals and providers currently serving the company’s Health Insurance Exchange customers starting May 1, 2015. If you would like additional information please select the enclosed link for Anthem’s official press release: http://news.anthem.com/bcp/assets/article/Elliot%20Pathway%20Final.pdf

 

2014 ACA Health Coverage May Affect Your Income Taxes

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Your 2014 ACA health coverage may affect your income taxes, particularly if you received a subsidy. You may have to complete additional tax forms and provide additional information when you file your 2014 federal income tax return. For those that didn’t have health coverage for some or all of 2014, you may be required to get a health coverage exemption or pay a tax penalty with your tax return.  The following links will provide you additional information on these topics.

These links are to the IRS and Healthcare marketplace websites.

 http://www.irs.gov/Affordable-Care-Act/Individuals-and-Families

 https://www.healthcare.gov/taxes/