Health Insurance & Taxes

@Dspeakes wrote an article all about what you need to know in terms of health insurance and taxes this year.


It's useful info!

Discuss it here.

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I thought it was supposed to be about how to handle it on taxes rather than a political commentary on the affordable care act.

Equal rights for others does not mean fewer rights for you. It's not pie.
"I prefer someone who burns the flag and then wraps themselves up in the Constitution over someone who burns the Constitution and then wraps themselves up in the flag." -Molly Ivins
Never try to teach a pig to sing. It's a waste of your time and it really annoys the pig.
I thought the information was very informative. The last portion of the article was more of an opinion . I guess how you look at the health care act depends on how it affects you or a person close to you. If it helped you to get affordable health insurance then your probably grateful. Regardless thanks for the information.
Thank you for the information in the newsletter. After receiving one too many letters from the IRS, thankfully we don't do our own taxes anymore.

I just want to throw this out there for individuals or families that are looking for an alternative to short term insurance or the Marketplace. This year, my family of three went with a Christian health sharing ministry. It's not "insurance," but the plans are indeed affordable and DO QUALIFY as ACA compliant. We will save over $300/month and do not have "high deductibles."

I won't go into the details of how they all work here, but a simple search on "health sharing ministry" is all it takes.

I had never heard of such a thing until a couple years ago, but I'm glad I did. We researched them thoroughly and spent some quality phone time asking questions. I hope this helps give anyone looking for coverage some other options.
@LisaSTL -- I think you're right. I removed the political commentary at the end of the article. I didn't want it to distract from the rest of the information. Politics is definitely not something I want in the magazine.
I really enjoyed the article, until I got stuck on the word "stuck".


I intend to live forever. So far, so good.
Sorry. Didn't mean to offend. If it's working for you, more power to you.

Time to build a bigger bridge.
I used Turbo Tax this year and it had me enter the information from the form I received. Just an FYI.
Retirement and Medicare with the right company is great. The government sucks the money out of your social security regardless of weather you opt for just the red white and blue card or go with a company (and there are many out there) that must give you more than the red white and blue card gives you. In my opinion you want to select a provider other than the red white and blue card. The government does not want to manage your health care they only want to pay other providers in the business to manage your health care. They require companies to give more than their "no frills" plan gives.

I did a few mystery shops to evaluate offerings by companies. It is great to be paid to explore your opportunities and options. I find the salespeople must be honest or they are sanctioned. They must sell you the plan you qualify for. The plan may be different in different states and in different counties. You are only able to buy the plans that are offered in your county. No matter what plan you settle on the government will take the same amount out of your social security check. There are different co-pays and formularies (prices for prescriptions between pharmacies that are "out of the pocket costs and they can vary greatly.)

I would not suggest which company is best but one must consider which doctors you go to, which accept medicare, can you go out of network to stay with your doctor, are you willing to switch if your doctor is not an affiliated doctor? What medicines are covered in your Forumulary? Which Pharmacies are available to you? Are those in your plan?

I get "silver sneakers" free membership in a health care facility. The perk the provider offers is free as they want you to exercise and be healthy rather than be sick and cost them money. They have in home wellness visits by a licensed nurse practitioner and they offer a wellness visit to your primary physician not to be confused with your annual check up. Is the AARP endorsed provider good for you or is another provider better?

Every year you must check and take the shops that allow you explore your options while you get paid to do it. Not all companies offer the plan that is good for me. Take those mystery shops and get paid to explore your options.
When I did one of the medicare advantage shops I was wishing I could get the plan (I'm too young still) because it was really a great plan and very very affordable.

for now I'm stuck with (sorry, there's that word again) getting it off the exchange.

spaztck, thanks for the info. I've only used professional software for years and didn't know what Turbo Tax was going to do about it. It generally has a pretty good interview system, you just need to be sure you really understand the question before answering. I had a client who did her own and didn't understand the questions about education credits and missed $3000 in credits. (I amended and got it back for her.)

I probably haven't used TT since 1998.

Time to build a bigger bridge.
Yep, you just deliberately used "stuck" again.


I intend to live forever. So far, so good.
I must have missed something. What's wrong with "stuck?" I get stuck all the time on my homework assignments.

No, stilllearning, it wasn't deliberate. After I typed it I realized that was the word you objected to and decided to acknowledge it but not change it because I *am* stuck getting insurance on the exchange; I don't have any other options at this point. The policy I had before no longer offers that plan in my state and I can't afford anything else I could buy on my own. So "stuck" is the word, and that will remain the case probably until I turn 65.

Kimmie, in my original article I said we were "stuck" with Obamacare. Jacob removed the sentence from the article because it offended some people for me to express my opinion.

Time to build a bigger bridge.
OK. Thanks for the explanation. One of my favorite sayings is "stuck on stupid." I'd hate to stop using that. Although I have never used it here except on the stupid thread. I try to be nice.

I think you may be in a state that decided not to set up its own exchange. For many news reports that I have seen, those states tend to have fewer insurance companies offering fewer plans than states that set up their own echanges.

Based in MD, near DC
Shopping from the Carolinas to New York
Have video cam; will travel

Poor customer service? Don't get mad; get video.
I agree health insurance under the exchange isn't perfect, but I'd rather be stuck with it than be stuck without it.

(Which was the case for me personally.)

Edit: BTW, differences of opinion aside, thanks for an excellent article. I particularly liked the way you addressed the topic of health insurance premium deductions as they relate to ICs.

Edited 1 time(s). Last edit at 01/28/2015 01:43PM by mystery2me.
@Piled Hip Deep, PHD,
Agreed. If the rest of the health insurance market options for folks were as good as the Advantage Plans for Medicare, we would all be daning in the streets. I also leaned about Medicare Advantage plans and replaced my other private o-insurance for Medicare with it. Saves me tons of money.

Based in MD, near DC
Shopping from the Carolinas to New York
Have video cam; will travel

Poor customer service? Don't get mad; get video.
Arizona chose not to participate in the Medicaid expansion. I have a friend who has been waiting for thirteen months and 12 days for a decision on her application for our medicaid program. In July she was told they were still reviewing her application. She has heard nothing since and had to pay out of pocket for emergency eye surgery she needed two days after she got the letter telling her they were still reviewing her application.

I was on Aetna for years, paying my own premiums; I got my Dear John letter in 2013 telling me they were dumping my plan in Arizona, causing me to have to go on the marketplace.

Time to build a bigger bridge.
I am also stuck with the exchange as my state does not have its own exchange. I shopped the Medicare presentations and helped hubby signed up with one. I'm looking forward to 65.

Not my circus - Not my monkeys @(*.*)@

~Polish Proverb~
As a volunteer tax preparer, I found the article interesting. Dspeakes is correct about the confusion surrounding taxes and the ACA this year.
Although AARP is advertised as free tax preparation for the elderly, some site will do taxes for any one who needs the help including Schedule CEZ. If interested, you might check out the sites around you.
Just be careful about Medicare Advantage plans. Many, many medical professionals will NOT take those plans, but they do take the supplement plans. Often if they don't normally take a MA, they might if you are a current patient, but going to a new doctor can cause some issues. MA plans do not pay out the same as the Medicare Supplement plans and that is why they don't often take the plans (pay to the doctor, not what is or is not covered).
That really depends on the medical practices that the MA plan recruits into their coverage in a given state or region. In my area many of the very best are in the Aetna MA plan. Same is true of much of PA.

Based in MD, near DC
Shopping from the Carolinas to New York
Have video cam; will travel

Poor customer service? Don't get mad; get video.
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