Welcome to Healthcare Week!
It’s like Shark Week but with less blood (hopefully, we’ll see when we’re finished).
Open enrollment for affordable care act plans starts tomorrow! That means now is the best time to talk about and try to decipher exactly what health care will cost for a couple early retirees and their kids. There’s a ton of fear around the recently announced hikes in plan premiums and I want to take an honest look at how much of that fear is irrational and how much is warranted. And also explain some of the basics of how healthcare works for those trying to navigate the system outside of an employer-sponsored health plan. I’ve got a few topics I plan on covering this week, but I’m writing this on the fly, so if there’s something you want me to look into let me know!
Topics for the week
Sunday – Decision Framework and Calculator
Tuesday – Let’s buy an Insurance Plan!
Thursday – Tax Implications of the Affordable Care Act
Friday – Health Savings Accounts
Saturday – Money and Health
Before I start I want to acknowledge that I’m not going to be able to cover everything and all circumstances, so I want to hand off a few resources that I found useful when pulling all of this stuff together.
Healthcare.gov – The website where it all happens. If you don’t have a state exchange this is where you go.
Obamacarefacts.com – A very comprehensive if sometimes rambling reference on the ins and outs of the law.
Health Reform: Beyond the Basics – Very detailed guide, focuses a little bit more on the technical side of things for tax preparers, but great details and videos
Our Friend the IRS and Form 8962 – This is the form used to claim the premium tax credit, the primary taxpayer facing benefit of the plan