Tag: Life Insurance El Paso

8 SIMPLE WAYS YOUR BUSINESS KEEPS MOVING FORWARD

by Jesus H. Bustillos Its always been tough to own and successfully run any business, and during the COVID19 pandemic, the hurdles multiplied. So, what can a business owner do in these next few weeks and months to survive and still have a business to come back to? The following are 7 items to check off your list to do ASAP! Go to our plans4life.com/biz page and you will find the links to: Apply for an EMERGENCY SBA LOAN Super low interest loans, when no-one else is there to help. The process is now faster, and response times are also relatively short. Apply for a PPP Loan through a community bank Chase has loaned processed more of their loans for small businesses, more so than any of the other big banks. We also have several community banks here that will be better positioned to help small businesses. Apply for a loan with LiftFund LiftFund is an SBA Lender, loans up to $1,000,000, through various programs. Push back your filing and revise your estimates (get with your tax advisor) Tax return filing deadlines have been extended through July 15. The same goes for payment deadlines for your final amounts due from 2019. Talk to your accountant about this. Adjust your estimated taxes for this year. Consider filing your taxes early if you’re looking at a refund. Also, if you’re offering paid time off to your employees under the new federal legislation, get familiar with the tax credits you can get back. Regarding ACA Tax Credits, you may want to revise your income estimates to adjust for any financial losses. Push your banker Reach out to your banker. Confirm your available lines of credit. Ask if your bank is offering any special loans or financings for small businesses related to this pandemic. Many larger banks are already doing this, and it’s likely that your bank will work out new payback programs to defer cash outlays for the short term. Push back your big vendors, mortgage or other big payments Everyone is going through hard times, but its more likely that the big vendors have more liquidity and can suffer through this, whereas a smaller supplier is in the same boat as most small businesses. Educate your staff Think about the come back plan. We have to help, where we can, in hedging what may be issues with resources, state benefits, unemployment, federal stimulus. Most people don’t know where to go for the information. Many people are struggling with food, there is help. Find other ways to create revenue and get your staff to help It’s always a good idea to have more than one way to create income in any case. Whether you are a single person, family or business of any kind, with your existing resources find a way to fill a gap, whatever needs your equipment or staff may be alternatively skilled or equipped to handle. If you are a salon, maybe sell tint kits, or instructions online, maybe sponsor an online zoom class to show others “how to” whatever your audience wants. If you are a bar or restaurant, start delivering food or drinks. If you are a retail business, create packages that allow you to appeal to your customer with a NEW VALUE proposition. You can make it happen, you are after all a survivor!

Medicaid Expansion is a Boost for Health Centers, according to survey findings

reposted from https://www.usnews.com/news/health-news/articles/2019-04-04/medicaid-expansion-a-boost-for-community-health-centers-survey-shows By Gaby Galvin, USNEWS Staff WriterApril 4, 2019, at 12:01 a.m. Medicaid Expansion a Boost for Health CentersMore Safety net clinics provide care for millions of people across the U.S.(BRENDAN SMIALOWSKI/AFP/GETTY IMAGES) SAFETY NET HEALTH clinics have fared better in states that have expanded Medicaid coverage to more low-income residents than those in states that have not expanded the health program, according to a new survey. Federally qualified health centers, along with “look-alike” clinics that lack the same grant funding, provide low-cost primary, behavioral health and dental care, serving millions of people – and 1 in 6 Medicaid patients – across the country. Federally qualified health center patients are more likely to suffer from chronic conditions, but the centers spend considerably less to care for patients than other providers. The Affordable Care Act allocated $11 billion to operate and expand such community health centers over a five-year period. Since the law was enacted in 2010, millions of low-income people have obtained health coverage, in large part through the act’s push for states to expand Medicaid coverage. The survey and accompanying report from the Commonwealth Fundpoints to the increase in insured patients in particular as fueling the improved financial stability of community health centers – especially in states that expanded their Medicaid programs. “The Affordable Care Act not only expanded health insurance coverage, but also helped usher in a variety of reforms in the way care is delivered,” Dr. David Blumenthal, president of the Commonwealth Fund, said in a statement. The survey of nearly 700 health center officials found that since 2010, significantly greater shares of community health centers in Medicaid expansion states said they’d been able to more easily care for patients and expand their operations than health centers in non-expansion states. For example, 76 percent of health centers in expansion states reported being better able to provide affordable care to more patients, compared with 52 percent of centers in non-expansion states. In expansion states, 62 percent of health centers said they saw improved funding for services and facility upgrades, compared with 46 percent in non-expansion states. “While many factors other than Medicaid expansion likely influence these differences, the increased Medicaid revenue that health centers in expansion states receive may help them improve the way they deliver care,” the report says. In expansion states, 87 percent of community health center patients were insured through Medicaid or the Children’s Health Insurance Program, compared with 58 percent of health center patients in non-expansion states, according to the report. Uninsured patients typically pay for services at these health centers on a sliding fee scale tied to income. Improved insurance coverage in expansion states – and thus increased revenue to federally qualified health centers – “also may incentivize health centers to offer the behavioral health care and nonmedical services that a growing share of patients requires,” the report says. RELATED CONTENTWanted: Rural Doctors Health centers in Medicaid expansion states were more likely to offer counseling and behavioral health care, as well as to often provide medication-assisted treatment for opioid addiction. Those in expansion states also were more likely to coordinate with local social services organizations. Yet expansion-state health centers were more likely to face shortages in staff to manage mental health and social services, the report found, calling such gaps “a potential barrier to meeting needs for behavioral health and social care.” As the U.S. health care system, including Medicaid, continues to evolve, health experts say further integrating clinical care and efforts to address social determinants of health – such as access to transportation, affordable housing and healthy food – are key to improving population health, particularly for low-income patients who may face worse health outcomesand more barriers to health. Federally qualified health centers also can be lifelines in medically underserved communities, including rural or poor areas. The Commonwealth Fund says policymakers should carefully consider the effects legislation has on community health centers and their patients, including the enactment of Medicaid work requirements that have been the subject of recent debate in states like Arkansas and Kentucky. “Community health centers are an essential part of the way we deliver primary care in the United States,” Melinda Abrams, co-author of the report and vice president and director of health care delivery system reform at the Commonwealth Fund, said in a statement. “Their success spurs better results across the entire health care system.” Gaby Galvin, Staff Writer Gaby Galvin is a staff writer at U.S. News & World Report.

Consumers Whose Income Drops Below Poverty Get Break On Subsidy Payback

posted from Kaiser Health News https://khn.org/news/consumers-whose-income-drops-below-poverty-get-break-on-subsidy-payback/ written by:columnist Michelle Andrews Right about now, some low-income people who just barely qualified for subsidies on the health insurance marketplace are starting to worry: What if my income for the year ends up below the poverty level? Will I have to pay back the premium tax credits I received? A couple of readers have posed this question in recent weeks. Their concern stems from an unfortunate wrinkle in the health law. Premium tax credits that make coverage on the health insurance exchanges more affordable are available only to people with incomes between 100 and 400 percent of the federal poverty level ($11,490 to $45,960 for an individual this year). People whose income is below the poverty line don’t qualify. This KHN story can be republished for free (details). Their concern stems from an unfortunate wrinkle in the health law. Premium tax credits that make coverage on the health insurance exchanges more affordable are available only to people with incomes between 100 and 400 percent of the federal poverty level ($11,490 to $45,960 for an individual this year). People whose income is below the poverty line don’t qualify. Now, people who didn’t qualify for Medicaid and whose estimated income is coming up short of the poverty level are worried they’ll have to repay thousands of dollars in premium tax credits. One reader wrote: “What is going to happen? Will he have to pay back all of the money that he received for the tax credit since he no longer qualifies?” The short answer is no. No repayment will be required. According to a Treasury Department rule, if the insurance marketplace estimates that someone’s income will be between 100 and 400 percent of poverty and it turns out that his income for the year is below the poverty threshold, the individual won’t be on the hook for any premium tax credits he received. Since the marketplace always makes the eligibility determination for tax credits, no one whose income ends up below the poverty level should have to repay them, says Judith Solomon, vice president for health policy at the Center on Budget and Policy Priorities. The same isn’t true for people whose income is above the poverty line, however. Above that threshold, people who received too much in premium tax credits will be responsible for repaying those amounts up to a cap, based on their income. And above 400 percent of the poverty level, they’re responsible for repaying the entire amount. Please contact Kaiser Health News to send comments or ideas for future topics for the Insuring Your Health column.

Tax Credits Still Unchanged

Ashley Semanskee, Gary Claxton, and Larry Levitt Follow @larry_levitt on Twitter original blog post (https://www.kff.org/health-reform/issue-brief/how-premiums-are-changing-in-2018/) Updated: Nov 29, 2017 | Published: Nov 14, 2017 The premiums for 2018 Marketplace plans were recently released to give consumers a chance to look at their plan options before open enrollment begins on November 1. Premiums are rising significantly in many counties across the country, in part due to the decision of the Trump Administration to cease payments to insurers for cost-sharing reductions.  Insurer participation also declined in many areas, leaving more counties with only one insurer, which likely contributed to the high rate of premium growth. The map below illustrates how premiums changed for 2018 by looking at the change in the lowest-cost bronze, silver and gold plans by county. Results are shown for a 40-year-old paying the full premium and for a 40-year old with an income of $20,000 (166% of poverty), $25,000 (207% of poverty), $30,000 (249% of poverty), $35,000 (290% of poverty), and $40,000 (332% of poverty), who would be eligible for a premium tax credit. Percent Change in Lowest-Cost Metal Plan Before and After Tax Credit, 2017-2018 https://publicstatic.tableausoftware.com/vizql/v_105001803220826/javascripts/ViewerBootstrap.js Nationally, the unsubsidized premium for the lowest-cost bronze plan is increasing an average of 17% between 2017 and 2018, the lowest-cost silver plan is increasing an average of 32%, and the lowest-cost gold plan is increasing an average of 18% (Table 1).  These average increases are weighted by the number of plan selections by county in 2017 (see Methods).  Premiums for silver plans are rising much more than those for bronze or gold plans because in many states insurers loaded the cost from the termination of the cost-sharing reduction payments entirely on the silver tier. For consumers who receive premium tax credits, the amounts that they will have to pay will often be lower in 2018 (Table 2).  The particularly large increase in premiums for silver plans means that tax-credit-eligible Marketplace enrollees will see much higher premium tax credits (which are calculated based on the second-lowest-cost silver plan in each area). These large credits make gold plans more easily attainable and make bronze plans much cheaper (or even available at no additional premium).  In fact, after these increases, the lowest-cost gold premium is lower than the lowest-cost silver premium in 478 counties. For example, a 40-year-old individual making $35,000 (249% of poverty) and eligible for a tax credit will on average pay 36% less in 2018 for their share of the premium for the lowest-cost bronze plan, 6% less for the lowest-cost silver plan, and 12% less for the lowest-cost gold plan. The savings are greater for subsidized enrollees with lower incomes and less for those with higher incomes (Table 2). The premiums for bronze plans may be particularly attractive to many people eligible for premium tax credits. For example, the tax credit for a 40-year-old individual making $25,000 covers the full cost of the premium for the lowest-cost bronze plan in 1,679 counties (Table 3). Table 1: Average Change in the Lowest-Cost Premium by Metal Level Before Tax Credit, 2017-2018 for a 40-year-old % Change in Lowest Cost Bronze Premium +17% % Change in Lowest Cost Silver Premium +32% % Change in Lowest Cost Gold Premium +18% SOURCE: Kaiser Family Foundation analysis of premium data from Healthcare.gov and review of state rate filings. Table 2: Average Change in the Lowest-Cost Premium by Metal Level After Tax Credit, 2017-2018 40-year-old with $20,000 income (166% of poverty) % Change in Lowest Cost Bronze Premium -85% % Change in Lowest Cost Silver Premium -14% % Change in Lowest Cost Gold Premium -26% 40-year-old with $25,000 income (207% of poverty) % Change in Lowest Cost Bronze Premium -69% % Change in Lowest Cost Silver Premium -10% % Change in Lowest Cost Gold Premium -20% 40-year-old with $30,000 income (249% of poverty) % Change in Lowest Cost Bronze Premium -50% % Change in Lowest Cost Silver Premium -8% % Change in Lowest Cost Gold Premium -16% 40-year-old with $35,000 income (290% of poverty) % Change in Lowest Cost Bronze Premium -36% % Change in Lowest Cost Silver Premium -6% % Change in Lowest Cost Gold Premium -12% 40-year-old with $40,000 income (332% of poverty) % Change in Lowest Cost Bronze Premium -24% % Change in Lowest Cost Silver Premium 1% % Change in Lowest Cost Gold Premium -6% SOURCE: Kaiser Family Foundation analysis of premium data from Healthcare.gov and review of state rate filings. Table 3: Number of Counties Where an Individual’s Tax Credit Covers the Full Premium of the Lowest-Cost Bronze Plan in 2018, for a 40-year-old Example Age and Income Number of counties where the tax credit covers the full premium for the lowest-cost bronze plan 40-year-old with $20,000 income (166% of poverty 2434 40-year-old with $25,000 income (207% of poverty) 1679 40-year-old with $30,000 income (248% of poverty) 488 40-year-old with $35,000 income (290% of poverty) 169 40-year old with $40,000 income (332% of poverty) 104 SOURCE: Kaiser Family Foundation analysis of premium data from Healthcare.gov and review of state rate filings. The map below shows where an individual’s tax credit covers the full premium of the lowest-cost bronze plan for a 40-year-old with an income of $20,000 (166% of poverty), $25,000 (207% of poverty), $30,000 (249% of poverty), $35,000 (290% of poverty), and $40,000 (332% of poverty). Counties Where the Lowest-Cost Bronze Plan Premium Costs Zero Dollars After the Tax Credit in 2018 https://publicstatic.tableausoftware.com/vizql/v_105001803220826/javascripts/built-dojo/dojo/dojo.js The map below shows counties where the unsubsidized premium for the lowest-cost gold plan has a lower or comparable premium to the lowest-cost silver plan in 2018. Counties Where the Lowest-Cost Gold Plan Costs Less than the Lowest-Cost Silver Plan https://publicstatic.tableausoftware.com/vizql/v_105001803220826/javascripts/built-dojo/dojo/dojo.js Discussion The differences in premium changes across plan types and the peculiar effect these differences have on plan costs for both unsubsidized and subsidized enrollees makes it important that consumers shop around and carefully consider their options.  Although CMS will no longer be paying insurers for reducing the cost sharing for lower-income enrollees, insurers remain obliged to provide the reduced cost sharing policies

2 days to Launch!

We have a shorter window than ever before to help individuals enroll.  The exciting thing is, that even though there’s been some turmoil in this law, its subsidies, and its cost sharing reductions (mainly by individuals unaffected or lacking basic understanding) there were protections built in to help ensure the laws survival. We’re seeing that rates this year are closer to ZERO premiums for many more individuals than before. Please call us to help guide you through the questions, concerns and challenges.   Jesus Bustillos

PreEnroll NOW for ACA!

Many folks believe that they have to wait until Nov 15, to get started in enrolling in their ACA plan.  The fact is that we are pre-enrolling individuals now.  This allows for us to get you and your family’s information in the system before the craziness begins.  Last year during November, very few individuals were actively seeking coverage that early in the process, so that created a bottleneck at the most critical time for enrolling.  Start early, and reward your early effort!   JHB

Our Primary Mission is to Serve…

We are blessed. It is our honor and privilege to serve our community or anyone in need. Since 1994, we have and continue to be students of all that life is, and can be for everyone. Please contact us if we can serve you. Jesus