Blue Shield of California has experienced ongoing system issues that have recently been corrected. As a result of these issues, some Individual and Family Plan members received past billing statements showing incorrect amounts due. Affected members will receive a detailed statement of corrections for these past months and, in some cases, previous years, in their January billing statements. Those who have been over billed will be credited, and those who have been under billed will only be responsible for adjustments to the December premium, not for past months of accrued charges.
Review of IRS draft ACA tax credit reconciliation forms
With the release of the draft IRS forms for reporting advance premium tax credits and reconciliation with the household MAGI, health insurance agents might be called upon to know another part of the ACA, the dreaded tax forms. The variety of reporting statements individuals and families may receive from employers and the exchanges will require […]
IRS mid-year ACA tax credit check up
The IRS issued a mid-year ACA tax credit check up advisory to remind individuals and families to report household changes if they are receiving Advance Premium Tax Credits to lower their monthly health insurance premiums. Most notable is the admonition that if the household income exceeds 400% of the federal poverty lineas reported on their […]