Monthly Archives: November 2013

SHOP delayed?

Reports that the SHOP marketplace has been delayed are inaccurate!
It is only the employee enrollment in SHOP health insurance plans through the SHOP marketplace which has been delayed.Qualified agents and brokers, insurance companies etc will be allowed to enroll employees in the SHOP plans now and through 2014 ( so that the employers can get their 2014 -50% tax credits)!

Eric’s insurance website:

Individual/family signup date extended!!

Obama administration officials Friday announced that they will give consumers extra eight days to sign up for health coverage that takes effect Jan. 1. 2014

The Centers for Medicare & Medicaid Services said it will push the individual coverage enrollment deadline to Dec. 23,2013 from Dec. 15 2013.

The CMS move changes an administrative deadline set by HHS while the first exchange open enrollment period is set to end March 31 2014.

For coverage starting on the first of February or later months, the application deadline will continue to be the fifteenth of the previous month, officials said.

Eric’s insurance web site:



Cancelled individuals can get their old coverage back!!!

President Obama announced TODAY that insurance companies can keep people on individual health plans that would not have previously been allowed under the Affordable Care Act.

The administration’s announcement INCLUDES:

  • The proposal would apply only to people who have had their existing policies already canceled
  • State insurance commissioners would have the right to override the administrative proposal.
  • Obama is directing the Department of Health and Human Services (HHS) to use its discretionary powers to allow insurers to offer current individual policy holders the option of a one-year renewal.
  • However, it is not clear if insurers will have the option of raising rates for the renewed policies.
  • Insurers will have to inform their current customers before they renew their current plans about new options available on the health insurance marketplace, and will have to spell out what coverage the renewed plans will not include compared to the new Obamacare policies.
  • Insurers will also have to tell customers about financial assistance that may be available to some people if they buy in a marketplace.

“Insurers can extend current plans that would otherwise be canceled into 2014,” Mr. Obama said, after characterizing the rollout as “rough so far.” “This fix won’t solve every problem for every person, but it is going to help of lot of people.” (Source: NY Times).  11/14/2013

Eric’s Insurance web site:


                  Insurance Services-Employee Benefits, Life, Health & Annuity

                                                  14482 N 100th Place,

                            SCOTTSDALE AZ 85260


Eric: Cell: 602-616-1660

2014- New HSA and other limits

The IRS has released the 2014 limits for Health Savings Accounts (HSAs) and High-Deductible Health Plans (HDHPs). While the deductible amounts remain unchanged from 2013, the out-of-pocket and contribution amounts have increased. Please review the impact of the limits on current and proposed HSA/HDHP arrangements, and update plan documents and enrollment materials in anticipation of the new limits.

In Revenue Procedure 2013-25, the IRS provides the inflation-adjusted HSA ontribution and HDHP minimum deductible and out-of-pocket limits for calendar year 2014. The imits are determined under the cost-of-living adjustment and rounding rules of Code section 223.

2014 HSA/HDHP Limits Announced 2013-2014 Change

HDHP minimum deductible amount:                 2013            2014                       Change
Individual                                                        $1,250           $1,250               No Change
Family                                                              $2,500           $2,500

HDHP maximum out-of-pocket amount
Individual                                                         $6,250               $6,350               +$100
Family                                                            $12,500             $12,700              +$200

HSA statutory contribution amount
iNDIVIDUAL                                                    $3,250                   $3,300                 +$50
FAMILY                                                          $6,450                    $6,550                   +$100

Catch-up contribution (age 55 or older)      $1,000                $1,000                 No Change

HSA Savings can also be used for:

Health insurance premiums when you’re between jobs
Qualified long-term care premiums.
Medicare premiums and out-of-pocket expenses
Living expenses after age 65 (pay ordinary income taxes)

Insurance Services-Employee Benefits, Life, Health & Annuity
14482 N 100th Place, Scottsdale,AZ 85260
TeL: (480)-657-8595/FAX: (888)-739-0796/CELL: (602)-616-1660

FSA- change of rules!!

Flexible Spending Account change for 2014!

The US Treasury Department has modified its FSA “use-it-or-lose-it” provision to allow rollover of FSA funds. Effective in plan year 2014, employers that offer FSA programs will have the option of allowing participants to roll over up to $500 of unused funds at the end of the plan year.

Effective immediately, employers that offer FSA programs that do not include a grace period will have the option of allowing employees to roll over up to $500 of unused funds at the end of the current 2013 plan year.

“This policy development is fantastic news for everyone involved with FSAs – but especially for participants themselves”

FSAs allow employees to contribute pre-tax dollars to pay for out-of-pocket healthcare expenses – including deductibles, copayments, and other qualified medical, dental or vision expenses not covered by the individual’s health insurance plan.

Ask us how! Eric’s insurance web site

Individual mandate enrollment penalty-update!

Individual mandate enrollment penalty-delayed!

The government has granted a six-week extension until March 31 2014 for Americans to sign up for coverage next year and avoid new tax penalties under the president’s health care overhaul law.
Under the latest policy change, people who sign up by the end of open enrollment season on March 31 2014 will not face a penalty.
Previously you had to sign up by the middle of February, guaranteeing that your coverage would take effect March 1, in order to avoid fines for being uninsured.
The extension — granted for 2014 only — addresses confusion that was created when the administration set the first open enrollment period under the law from Oct. 1, 2013 -March 31,2014.
Health insurance coverage typically starts on the first day of a given month, and it takes up to 15 days to process applications. So somebody signing up March 16 2014 — well within the open enrollment period — wouldn’t get coverage until April 1, thereby risking a penalty for being uninsured part of the year.
As a result, the department is creating a special one-time hardship exemption for people who get covered by March 31, 2014 and they won’t have to file additional paperwork to apply for the exemption.

The administration released an analysis Monday that concludes nearly half of uninsured single young adults could buy a “bronze” level plan for $50 or less a month, after tax credits to offset the cost of premiums.

Eric’s insurance web site

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