Archive for Obamacare

Early 2018 Tax Updates and Announcements

Several key points of tax information for 2018 have already been released.  The first point is that the Social Security Administration announced that there will be a 2% increase in the monthly social security benefit checks starting in January, 2018.  The downside is that there will also be an increase in the 2018 monthly Medicare cost that is automatically deducted from your social security check.  In some cases, the increase in Medicare insurance cost will pretty much wipe out the 2% increase. (more…)

Posted in: Obamacare, Tax Laws, Tax Returns

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Obamacare Update – February 27, 2017

On February 23, 2017 an announcement came out that extended by one year from 2017 to 2018 the availability to keep a grandfathered group health insurance plan that was in effect prior to Obamacare in effect for another year.  These original plans were given a grace period that allowed an employer to keep these plans in place for a period of time after Obamacare began to allow for a transition by the employer over to Obamacare.  These grandfathered plans which were being allowed only to December 31, 2017 will now be allowed be continue until December 31, 2018. (more…)

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Obamacare Insurance Premium Rates Are Expected To Increase For 2017

If you have your health insurance through the Obamacare exchange, hold on to your hat. The 2017 insurance premium rates are expected to be released around June 1, 2016 and they are expected to result in an increase of 10% to 30% and possibly more depending on the state where you live. This is due to insurers being hit with heavy medical claims and a lower than expected number of people signing up for health insurance coverage. (more…)

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