Employer Issues

HEALTHCARE COSTS: YOU WON’T BELIEVE THIS!

We read and hear a lot about the craziness and wild swings in pricing for common medical services. Some seem too incredulous to believe. Healthcare’s version of Ripley’s Believe It Or Not.

OK. So here’s a true story. Hot off the presses. Happened just this week to someone in our sphere.

S&P Report Another Indicator of ACA Nearing Tipping Point?

I doubt I’m going out on a limb by saying that the “kid in the candy store” perspective that insurance companies may have had about the Affordable Care Act has all but vanished.   A new Standard & Poor’s report released this week supports that the “candy store” notion is now no more than illusion and provides further indications that ObamaCare is sputtering and may well be reaching a Tipping Point.

Quietly Lurking: 2017 Obamacare Waiver Could Open the Door for States to Do Their Own Thing

We’re keeping an eye on it; and, apparently so are many of the states. The healthcare reform law includes a waiver that, starting in 2017, would let states take federal dollars now invested in the implementation of the Affordable Care Act and redirect them and redesign their own health care systems.

Some elements of the law could not be repealed, such as the requirement that insurance companies provide coverage regardless of pre-existing health problems. But they could replace the law’s unpopular mandate that requires virtually everyone in the country to have health insurance, provided the alternative worked reasonably well.

IRS Sets 2016 Limits for HSA Deductions – Minor Changes

The IRS released this week the inflation adjusted limits for health savings accounts (maximum contributions) and HSA-compatible health plans (minimum deductibles and maximum out-of-pocket costs).

2016 IRS Limits*

  Type of Limit

Single Plan

Family Plan

Maximum HSA Contribution Limit $3,350  ($3,350) $6,750  ($6,650)
Minimum Health Plan Deductible $1,300  ($1,300) $2,600  ($2,600)
Maximum Health Plan Out-of-Pocket $6,550  ($6,450) $13,100 ($12,900)
Catch-up Contribution (Age 55+) $1,000  ($1,000) $1,000  ($1,000)

*2015 Limits in parentheses

 For official word from the IRS refer to  http://www.irs.gov/pub/irs-drop/rp-15-30.pdf

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