Solutions to Make Better Decisions with Your Money

Are You Uninsured? Find Out If You Qualify for a Health Insurance Penalty Exemption

Are You Uninsured? Find Out If You Qualify for a Health Insurance Penalty Exemption - TaxACT

2014 is the first year that individuals in the U.S. may have to pay a penalty if they don’t have sufficient health insurance under the Affordable Care Act. If you have minimum essential coverage through your employer or that you’ve purchased on your own or through your state’s marketplace, you likely don’t need to worry […]

Read This Before You Let Your ACA Plan Autorenew for 2015

ACA Plan Autorenew for 2015 - TaxACT

If you are enrolled in a health insurance plan you purchased through the Affordable Care Act exchanges (or marketplaces), your plan is set to autorenew this fall. You don’t have to do anything extra to keep your policy in force for 2015. That’s the good news. The bad news is that if you don’t look […]

Obamacare Open Enrollment Ends March 31, 2014

Obamacare Open Enrollment Ends March 31, 2014 - TaxACT

That’s the deadline. If you haven’t yet signed up for health insurance, there’s no day like today. Despite the record snowfalls and wind chills gripping the country, January was a hot month for healthcare. More than 1.1 million people signed up for coverage through state and federal marketplaces, according to a recent Department of Health […]

8 Free Preventive Services Under Obamacare

8 Preventive Services Free Under Obamacare - TaxACT

As the saying goes, “An ounce of prevention is worth a pound of cure.” And now, thanks to the provisions of the Affordable Care Act (ACA), taking measures to ward off illness and disease has never been easier. All marketplace plans are required to cover a specific range of preventive services without co-pays or coinsurance, […]

Tax Tips for 2014 That You Need to Know

Tax Tips for 2014 You Need to Know - TaxACT

For most people, the biggest change in 2014 is the individual mandate for purchasing health insurance. If you’re a high-income taxpayer, you may also pay higher tax rates and new taxes. If you qualify for certain tax breaks, you’ll be glad to know most of them are extended through 2014 or beyond. See if any […]

Five Things You Need to Know About the ACA

Five Things You Need to Know About the ACA - TaxACT

On October 1, 2013, the health insurance landscape changed dramatically as the Patient Protection and Affordable Care Act (ACA), often referred to as Obamacare, went into effect. Thanks to a major overhaul of public policy, subsidized coverage can now be purchased through state-run or national exchanges, and no one can be turned away. Changes to […]

Persisting Myths About Health Care Reform

Persisting Myths About Health Care Reform

What are the most persistent myths about the Affordable Care Act? The answer to this question depends on who is asking and who is answering the question. So many myths have persisted for so long that it’s a challenge to separate what might seem to be a truly crazy myth (such as the act contains […]

Affordable Care Act: Catastrophic Plan vs Full Coverage

Affordable Care Act: Catastrophic Plan vs Full Coverage - TaxACT

Are you eligible for a catastrophic plan? Is it right for you? Under the Affordable Care Act, there are basically five levels of available health insurance plans: Platinum, Gold, Silver, Bronze . . . and Catastrophic. Catastrophic is a minimal plan and has a number of limitations. It is therefore considered a separate plan from […]

What’s At Stake If You Miss the Deadline to Get Health Insurance?

What's At Stake If You Miss the Deadline to Get Health Insurance

The deadline to get health insurance is approaching. If you don’t have access to employer-provided health insurance and you don’t qualify for Medicaid or Medicare, you need to make sure you have health insurance that meets the requirements of the Affordable Care Act (ACA) by January 1, 2014. If you don’t get qualified health insurance […]

Older Americans and Seniors – What the ACA Means for You

Older Americans and Seniors – What the ACA Means for You - TaxACT

What does the Affordable Care Act mean for older Americans? If you’re 65 or older and on Medicare, you can keep your plan. Medicare’s basic structure hasn’t changed, although the Affordable Care Act (ACA) makes some important benefit improvements. If you’re too young for Medicare and don’t have access to health insurance through an employer, […]

How the Affordable Care Act Affects Low Income People

How the Affordable Care Act Affects Low Income People - TaxACT

Location, location, location; they’re often said to be the three most important factors determining the value of real estate. Location also matters greatly for low income Americans hoping to get health insurance through the Affordable Care Act (ACA). The ACA aims to cover 21.3 million low income uninsured Americans through expansion of the federal- and […]

You Have Insurance. So What Does the ACA Offer You?

You Have Insurance. So What Does the ACA Offer You? - TaxACT

Do you have health insurance through work? For you, the question might be: Do I need to use the healthcare marketplaces that are part of the Affordable Care Act, sometimes called Obamacare? The simple answer is: No, you probably don’t need to. It’s possible, however, that you might want to. A Job-Based Plan If you […]

How to Enroll in the Affordable Care Act 101

How to Enroll in the Affordable Care Act 101 - TaxACT

How do you enroll for a health insurance plan through the healthcare marketplaces? Now that the health insurance marketplace website is running better, let’s review the options for signing up for health insurance. Navigating HealthCare.gov First, you actually have the option of window-shopping at healthcare.gov. On the main page is a circle that reads: SEE […]