The Affordable Care Act changed the health care landscape tremendously. The gradual rollout of ACA provisions paved the way for an additional 20 million Americans to obtain health care coverage, which would not have been possible without ACA, which is referred to as Obamacare. Based on the latest figures from Whitehouse.gov, nine in 10 Americans now have health coverage. While a large part of the population obtains health coverage through their employers, a significant number depend on the health insurance exchanges to find affordable health insurance in Wisconsin. State governments had the option of establishing their own marketplace or sending their residents to the federal exchanges. Wisconsin opted for the latter. Read More…
FHK Insurance Blog - Page 2
Health insurance can be confusing for many Wisconsin seniors and their families. Here are a few tips on what you should know before talking to a Milwaukee health insurance agent.
What Is Medicare Advantage?
Medicare Advantage, or Part C plans, aren’t provided by the government. They’re actually offered by private companies that have been approved by Medicare. As a result, the quotes and services you receive may vary.
What does a quote for Part C cover? With this plan, Medicare pays your provider a fixed sum each month. This money goes towards the qualified health care services you use.
Insurers that offer Part C can set their own policy rules and prices. Two quotes with equal dollar amounts may offer distinctly different coverages. Read More…
Medicare Advantage plans and prescription drug plans are about to go into their Annual Open Enrollment Period (OEP). There are several reasons to review your Wisconsin 2016 plan with a licensed insurance agent each year.
Many individuals on Medicare in Wisconsin for plan year 2016 are currently enrolled in one of these top three: AARP United Healthcare’s Medicare plan, Humana’s Medicare plan, or Anthem’s Medicare plan. Many individuals on Medicare could be enrolled in a Medicare Supplement as well, along with a stand alone prescription drug plan. During the Medicare Open Enrollment Period, which goes from October 15 through December 7, 2016, you can shop both Medicare advantage plans and prescription drug plans (PDP). Read More…
You might ask, “What is the most affordable health insurance Wisconsin citizens can get?” That’s what FHK is here to answer for you. We understand in these trying times that affordable health insurance that does what you need it to is increasingly difficult to come by. We pride ourselves on being experts in the field of health insurance, and also finding you the best value of your payments.
Affordable Health Insurance Benefits to Consider
Outlining what is most important to you in a health insurance plan is step one. Knowing what you need and want is half the battle of finding affordable health insurance.
Consider the benefits you’re looking for: Read More…
Since the introduction of Obamacare Wisconsin citizens have been in search for affordable health insurance plans to accommodate the increased deductibles associated with the transition. Having someone knowledgeable on the topic is just the first step. Trusting that person to recommend the best insurance plan for your needs is the next.
It’s already known that we provide the most knowledgeable employees in regards to health insurance. With that in mind, we hold them to the highest standards when it comes to the trust they hold between them and their clients. We have created a reputation of trust, and with that comes customer loyalty. We don’t lead people astray from the plan that best suits them and their unique needs. Each person is different, and that holds true with their needs in insurance. With the introduction of Obamacare those needs shifted and became even more complex. Being the forward thinkers that we are, we became experts in the changing system. Read More…
Just recently, the US Supreme Court voted to uphold Obamacare subsidies. What exactly does this mean?
First, we need to define subsidies. Premium tax subsidies and advanced premium tax credits are both the same thing, and they refer to the income-based discount on Obamacare health insurance. This is the advanced discount to help pay your premium. For example, based on your income, your tax credit could be $150, which reduces your premium by that much every month.
Has the deadline to sign up for Obamacare passed? No. For those of you that have yet to enroll in a plan, the deadline is fast approaching, February 15th, 2015. The 15th falls on a Sunday this year, and FHK will be open this weekend on both Saturday the 14th and Sunday the 15th during normal business hours, 8:00am until 5:00pm. If this upcoming deadline has you nervous at all, do not worry. The skilled agents at FHK are here to help.
There have been major changes to the Obamacare Marketplace this week. Anthem Blue Cross Blue Shield just announced that they are discontinuing major medical health insurance coverage for tens of thousands Wisconsin residents. This change will affect individuals currently on an Anthem Affordable Care Act plan (Obamacare) both on and off exchange.
This news comes as quite a shock considering that just 2 years ago Anthem had a very competitive marketplace plan and was recognized as a strong insurance contender.
Also making news is the announcement that Assurant Health will not be participating in the next open enrollment, set to begin November 1, 2015.
What does this mean for Wisconsin residents?
“I wish I would have contacted you sooner!” We hear this statement often at our office. Many clients think you have to pay extra to work with an agent when choosing between Medicare insurance plans. This is simply not true. Let me explain.
Health insurance agents are licensed through the State. We represent multiple insurance companies and in doing so, are able to provide customers with more of an individualized focus. We are not trying to push one particular product, we truly get to know you and look for the most effective plan based on your needs
Some individual taxpayers are able to claim an itemized deduction for their qualified medical expenses, including medical insurance plans premiums. In order to qualify, the qualified expenses must surpass 10% of an individual’s yearly-adjusted gross income. This percentage lowers to 7.5% if you or your spouse reached the age of 65 or older as of December 31st, 2014. In both situations, if you do not reach this percentage, you do not qualify for the deduction. It is essential to track and record every expense related to your healthcare in order to do so.
While most insurance premiums are applicable, a few are not. Be sure to check with your accountant so there are no delays in your filing.
Medicare insurance is coverage that typically begins once an individual turns 65. There are various types of coverage. Here is a brief description of each: