8.2 million people may soon get a rebate from their health insurer

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Depending on how you get your health-care coverage, you may soon get a rebate from your insurer.

An estimated 8.2 million policyholders are expected to receive a piece of $1 billion in rebates by Sept. 30 from various insurers, according to an estimate from the Kaiser Family Foundation.

The refunds generally work out to an average of about $141 per participant in plans through the public marketplace, $155 for those in plans through a small employer and $78 for enrollees in large-group plans (excluding those at companies that self-insure).

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However, the rebate amount can vary widely, depending on your location and insurer.

The aggregate total of $1 billion in

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NJ public workers face big increase in health insurance rates in coming year

Hundreds of thousands of public workers, early retireesm and school employees in New Jersey are facing potential rate increases of as much as 24% for health benefits under proposals being considered by the State Health Benefits Commission.

Rate increases being considered include a 24% increase for medical and a 3.7% increase for pharmacy benefits for active public workers, as well as a 15.6% increase in medical and a 26.1% increase in pharmacy benefits for public workers who retired before the age of 65, according to an email sent to county administrators from New Jersey Association of Counties Executive Director John Donnadio.

Donnadio said in the email that the figures, which haven’t been made public, were shared by an insurance and benefits broker.

StateTreasury spokeswoman Jennifer Sciortino acknowledged rate increases were being considered and added that rates for active members and early retirees would likely increase between 12-20% across the various

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Double-digit increases proposed for ACA health insurance plans

Illinois residents who buy health insurance through the Affordable Care Act exchange will likely see prices rise for next year — in some cases by double digit percentages.

Ten Illinois insurance companies that sell plans on the exchange, at healthcare.gov, are proposing average rate increases of about 3% to nearly 16% for plans in 2023. Consumers can begin shopping Nov. 1 for plans on healthcare.gov for next year.

The state’s largest health insurer, Blue Cross and Blue Shield of Illinois, is proposing an average rate increase of 5.3%. Celtic Insurance Co., which sells plans called Ambetter, is proposing an average rate increase of 13.7%. UnitedHealthcare of Illinois is proposing an average rate increase of nearly 16%.

Nearly 230,000 Illinois residents have individual Affordable Care Act plans through Blue Cross. About 54,000 people could be affected by the rate change from Celtic/Ambeter, and about 5,500 with UnitedHealthcare could be affected, according

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How to avoid a tax surprise from marketplace health coverage

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If your income is trending much higher this year than you anticipated, it’s likely a welcome shift.

However, for anyone who gets their private health insurance through the public marketplace, that extra cash could mean an unexpected tax bill when they prepare their 2022 return next spring. A midyear income check could help avoid that.

Basically, if you receive premium subsidies (technically, advance tax credits) through the marketplace, having annual income that’s higher than what you estimated when you enrolled could mean you’re not entitled to as much aid as you’re receiving. And any overage would need to be paid back at tax time.

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Report changes that may affect insurance subsidies

“You really should go into

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A Retirement Journey: Health Insurance Issues

Over the past two weeks, we’ve focused on the story of Bob, a recent retiree. We’ve gone over his pre-retirement experience and his journey through the processing of his retirement application. This week, we’ll look at his health insurance choices.

Bob has an ongoing dilemma when it comes to health insurance. He arguably doesn’t really need Federal Employees Health Benefits coverage or Medicare, because he is a veteran with a service-connected disability. That means all of his medical needs (service-connected and otherwise) are provided by the Veterans Health Administration, at no charge. VHA does bill private insurers (including those in FEHB) for the non-service connected care it provides.

Nevertheless, Bob enrolled in FEHB during his civilian service at the Federal Aviation Administration for a couple of reasons: in case he should need it for a future spouse, should he remarry, and in order to meet the requirement of being

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