MediCOVERAGE: California Health Insurance News


HOME I GETTING STARTED I QUOTES I NEWS I RESOURCES I CONTACT

NEWS ARCHIVES

November 2008
September 2008
July 2008
May 2008
April 2008
February 2008
January 2008
December 2007
November 2007
October 2007
November 2006
October 2006
August 2006
June 2006
May 2006
March 2006
January 2006
November 2005
October 2005
September 2005
August 2005
July 2005
June 2005
May 2005
April 2005
March 2005
February 2005
January 2005
December 2004
November 2004
October 2004
September 2004
August 2004
July 2004
June 2004
May 2004
April 2004
March 2004
February 2004
January 2004
December 2003
October 2003
September 2003
August 2003
July 2003

California Health Insurance

Name:
Phone:
Email:
Referred by:
Zip:^*
^*Required Field

(No information will be shared or sold)

Quote Engine will appear in new browser window

Health Insurance News Archive

Thu Oct 02, 2003

IRS Offers New Health Coverage Tax Credit

The IRS has introduced a new program that can pay nearly two-thirds of eligible individuals' health plan premiums. The Health Coverage Tax Credit (HCTC) is a groundbreaking program that could help over half a million eligible Americans and their families pay for health coverage they might otherwise not be able to afford.

The IRS website is intended to help both the people who may benefit from the HCTC program and the HCTC program's partners. It is organized so that everyone can quickly find the information that is most important to them. The site includes information for individuals, state government agencies and health plan administrators.

HCTC Program Description

The HCTC is a federal tax credit. It was established by the Trade Act of 2002 to assist the following groups of people:

Workers who lose their jobs due to the effects of international trade and are eligible for certain Trade Adjustment Assistance (TAA) benefits; or are eligible for benefits under the Alternative Trade Adjustment Assistance (ATAA) program.

People who receive benefits from the Pension Benefit Guaranty Corporation (PBGC) and are at least 55 years old. The program is a partnership of the federal government, state governments and health plan administrators. The federal government administers the program. State agencies help identify people who are eligible and help promote the program. State agencies and health plan administrators work together to make qualified coverage options available for eligible individuals.
MediCoverage is not a tax professional and this information is not intended as tax advice. For more information check out www.irs.gov .

Source: IRS

Wed Oct 01, 2003

How Wal-Mart Saves Money on Health Benefits

According to Mercer Human Resource Consulting, the per-employee health benefit spending of the nation's largest private employer, Wal-Mart, was $3,500. This represents over 40% less than the average for all U.S. corporations. How did they do it? See below for some of Wal-Mart’s health benefit restrictions:

New hourly workers wait six months to sign up for its health benefits plan.
No health coverage for retirees.
High deductibles (as high as $1,000, triple the norm.)
No pay for preventative care such as flu shots, eye exams and child vaccinations.
Usually no treatment of pre-existing conditions in the first year of coverage.
No pay for speciality health services such as chiropractic services.
Is trimming employee health coverage benefits a national trend? It is too early to tell. According to the Kaiser Family Foundation13% of U.S. employers reduced health benefits, while 7% increased them in 2003.

While Wal-Mart reduces many health coverage benefits for its employees, it still has a liberal policy for major medical procedures. The company typically pays 100% of medical costs above $1,750 a year in out-of-pocket expenses and has no lifetime caps on health coverage. Only 47% of U.S. employers nationwide have no lifetime caps on health insurance.

Source: Wall Street Journal

Bookmark This Page

Insurance offered through Regal Benefits Insurance Services, License Number: 0E39068