Health care reform tax credits could impact overall refunds

health insurance disclosure tax penalty

Americans are being advised to review a bit of their tax information to make sure there will be no unwelcome surprises. Many people across the United States look forward to a tax refund, every year, but this is the first time that the credits from the health care reform will come into play, and many experts are now recommending that individuals review some of their information to make sure that they won’t be receiving less than expected – or miss out on a potential opportunity for more. Americans need to…

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The criteria that states must meet for health insurance exchange marketplace

The Department of Health and Human Services (HHS) is awarding 13 states as well as Washington D.C. a total of $185 million to help to fund the planning and creation of the state-based insurance exchanges that are required by the federal healthcare overhaul. Each will receive a different amount as their portion of the total. For example, California will receive $38 million in order to create its exchange. The governors of the recipient states received a letter from secretary Kathleen Sebelius of HHS, which described the various options and resources…

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California to receive over $38 million to create state insurance exchange

The Department of Health and Human Services announced on Friday, August 12, 2011, that California would be receiving over $38 million from the $185 in total funds that were being distributed among 13 states and Washington D.C., in order to assist with the development of state health insurance exchanges which are required under the nationwide health reform laws that went into place last year. On the same day, the Department of the Treasury, in conjunction with the HHS, issued the proposed rules that the states would need to follow for…

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Kentucky lawmakers scramble for special session to solve the looming unemployment insurance crisis

Kentucky’s Governor, Steve Beshear, is calling for a special session of the state’s Legislature. The move is prompted by Senate President David Williams, who says that the session is needed to find a solution for the state’s looming unemployment insurance problem. While the state has done well this fiscal year – puling in $121 million in surplus – there have been problems with the unemployment benefits budget. If lawmakers cannot fix the problem with the state’s unemployment insurance program, it could lose out on $640 million in federal tax credits.…

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Health Care Reform Update: New waiver proposal for industries and citizens

The Department of Health and Human Services has proposed several new waiver rules that will give states more control of their own health care systems and regulations. Backed by the Obama administration, the waivers will provide states with more flexibility. If the proposal is successful, states will have more freedom in creating their own systems that will support federally mandates health insurance exchanges. Additional legislation is being proposed to make the waivers available by 2014 instead of 2017. States may apply for “Innovation Waivers” that will allow them to come…

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