One in five health insurance apps rejected

By Kathryn Mayer January 24, 2013 • Reprints Having trouble getting health insurance? You’re not alone, according to new data. Analysis from HealthPocket shows the health insurance industry averages an application rejection rate of 22 percent of submitted individual and family applications nationally. And some states are much worse: Montana has the highest percentage of area insurer rejections with 45 …

Fourth Quarter Economic Update

THE QUARTER IN BRIEF While the S&P 500 had its first negative fourth quarter in four years, it didn’t stop the index from having a great 2012. The NASDAQ and Dow also lost ground for the quarter, but the losses could have been worse – Europe was for once relatively free of alarm, Wall Street seemed to take fiscal cliff …

IRA CONTRIBUTION LIMITS RISE FOR 2013

Save a little more for retirement. Time to boost your IRA balance. In 2013, you can contribute up to $5,500 to your Roth or traditional IRA. If you will be 50 or older by the end of 2013, your contribution limit is actually $6,500 this year thanks to the IRS’s “catch-up” provision. The new limits represent a $500 increase from …

Ascensus, Inc. completes acquisition of ExpertPlan, Inc.

Here is the press release from Bob Guillocheau, the CEO of Ascensus, about the purchase.  I will be in Expertplans offices on Tuesday to meet with them and make sure that I fully understand the ramifications of the purchase for my clients – Reeve   “We are excited to have the ExpertPlan associates join the Ascensus family, and look forward …

HHS awards $1.5 billion for exchanges

By Kathryn Mayer January 17, 2013 • Reprints The federal health department Thursday announced $1.5 billion in new grants to support states building health insurance exchanges under the Patient Protection and Affordable Care Act. California, Delaware, Iowa, Kentucky, Massachusetts, Michigan, Minnesota, New York, North Carolina, Oregon and Vermont all received funding—either one-year or two-year grants, depending on their progress on …

Insurers may prove choosy with overhaul exchanges

There is a mistaken assumption that all the major insurers- Aetna, Blue Cross, CIGNA and United – will all be in the exchanges.  This article points out (part) of why that won’t happen.  The part it doesn’t mention is adverse selection- millions of sick and uninsured folks are finally going to be able to get coverage they can afford, driving …

New regulations shed light on looming health-care reform costs for businesses

We are in the “rule-a-week” period that follows any new law, where the various agencies put meat on the bones of the law.  THis is a long, but very important article, if you have more than 50 employees!- Reeve   By J.D. Harrison,  January 16 | Washington Post The ramifications of health care reform for business owners are coming into focus as …

Reform expected to raise young adult premiums

By Kathryn Mayer | January 7, 2013 • BenefitsPro A provision in the Patient Protection and Affordable Care Act might make health insurance a lot more expensive for young adults, a new study finds. According to actuaries at consulting firm Oliver Wyman, the law’s age rating provision could mean a 42 percent hike in premium costs for people aged 21 …

Fiscal Cliff Legislation Provides New In-Plan Roth Conversion Opportunity

This is a good summary of the change to 401k Roth Conversion Rules included in the legislation. – Reeve by Brian M. Pinheiro and Josh Bobrin The newly enacted American Taxpayer Relief Act (H.R. 8) includes a significant new opportunity to perform “in-plan” conversions of pretax dollars to Roth (after-tax) dollars of funds held in defined contribution retirement plans (such …