Market Report
Oregon and Washington
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The agents at Laughlin Insurance are still here for you after more than two decades, looking out for you and your family and your business. As brokers, we bring you a wide range of Health Insurance plans and other related insurance programs, marketplace support, compliance & administrative services, and more. We have seen more health insurance market stability in recent years for small employers, individuals, and those on Medicare. Plan options, and rates are similar among the major health care providers, with more differences found in provider networks, and customer service. Financial help continues for many on the marketplace for those who are eligible, and new or increased financial help is now available for many on the marketplace.
Industry News
- Marketplace Emergency Open Enrollment Feb 15th to Aug 15
- COVID-19 Vaccine Updates
- Small Business Health Care Tax Credit
- Medicare Advantage and Medicare Supplement Plans
- Compliance Advisory for Employers
- Hospital Financial Assistance
- 1095 Tax Forms
Agency News
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Marketplace Emergency Open Enrollment Feb 15 to Aug 15
There is a special individual health insurance emergency open enrollment in progress through August 15, 2021. Marketplace enrollment is open in Oregon and Washington and there are also increased tax credits starting May 1, 2021. The income limit for the tax credit has also been increased for many not previously eligible for the tax credit. If you are on the marketplace and want the new or additional tax credit to lower your monthly premiums, then you will need to update your marketplace application and re-enroll to apply the new savings. We can help you determine your new tax credit amount, and we can provide full service review and enrollment by phone if you call us. If you don't take the additional tax credit starting May 1st, then you will receive the extra tax credit as a tax refund on your next tax return, if you end the year in the tax credit eligibility income range. If you are enrolled directly with a health plan and not through the marketplace, then you will not be eligible for the tax credit. Some consumers are now changing from direct enrollment to marketplace enrollment, and receiving the advanced premium tax credit.
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COVID-19 Vaccine Updates
Vaccines are available now for age 16+. Check with your health insurance plan to locate vaccination locations, times, and to schedule appointments. Check out our COVID 19 informational and resource page HERE.
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Small Business Health Care Tax Credit
This popular program continues to give qualified for profit employers up to 50% of their premium contribution back as a tax credit if they purchase a qualified health plan from a certified carrier, have fewer than 25 employees, and have an average employee gross salary below about $53,000 not including owner salary. The income guidelines for eligibility has been adjusted for inflation annually by about $1,000, so the 2021 tax credit income guidelines may be closer to about $57,000. Not for profit organizations may be eligible for 35% tax credit. The tax credit can last for 24 months and does not need to be taken consecutively. There are a lot of qualified plan options to select form. We can help you purchase a qualified small business health plan, and then we can order the plan certification letter from the Oregon Health Insurance Marketplace for you to give to your tax preparer to get the tax credit on your next business tax return filing. Review the Small Business Health Care Tax Credit Estimator HERE.
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Medicare Advantage and Medicare Supplement Plans
According to the US Census Bureau, there are about 10,000 people turning age 65 in the US daily, and most of them will be enrolling in a Medicare Advantage Prescription Drug plan or a Medicare Supplement (MediGap) Plan with a Prescription Drug Plan. We offer numerous carriers for your Medicare Advantage, Supplement, and Pharmacy needs and are ready to help you with your planning, education, plan reviews, provider network review, prescription drug review, enrollment, ongoing Medicare services, and annual election period support. We recommend contacting us about 6 months before you turn age 65, so we can give you the information and services you need to enroll in the Medicare plan that meets your needs. Check out our Medicare website and let us know when you are ready to review Medicare.
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Compliance Advisory for Employers
This is a topic mainly for Employers, Benefit Managers, and Human Resource Professionals. Compliance is a broad term and is used in the health insurance industry, and with retirement plans and other employer sponsored health & welfare benefit programs. In the context of health insurance and benefits, compliance includes communicating to employees about their benefits and their rights, or other important information that the government wants employers to provide to employees.
Compliance may require employers to send notifications to employees, and maintain certain signed documents. There are numerous requirements and some of the requirements include; Affordable Care Act Exchange Marketplace Notice, Employee Retirement Income Security Act (ERISA) Wrap Document, Medicare Part D creditable or non-creditable Pharmacy Notice, COBRA notices, Summary of Benefits and Coverage, and other notices. Compliance is the company owners personal responsibility, even if they have support staff, payroll companies, professional administrators or insurance agents helping. We encourage employers to take the initiative to achieve proper compliance status, due to the high cost of government fines, penalties, and business disruption that can come from non-compliance. Check out our compliance website and let us know how we can help you with compliance.
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Hospital Financial Assistance
If you have hospital bills and want to check for financial assistance, give us a call. We are familiar with the financial help that is available for many. You can review the financial assistance guidelines at hospitals from the links below:
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1095 Tax Forms
We have access to 1095-A tax forms and can usually get copies to you quickly. Let us know if you need your 1095-A tax forms to complete your taxes.
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Agency News
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WiredEnroll is our new small employer quoting and enrollment system. If you are a small employer and want quick turn around for small group health plan rates, live web based spreadsheet comparisons, and online web based enrollment, then we can help you with easy online small group reviews and enrollment.
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HealthSherpa is our individual health and dental shopping and enrollment service. Check out our individual health and dental shopping site here. When you use our eligibility, shopping and enrollment website, be sure to watch for any emails from noreply@healthsherpa.com for information and information about your quotes, or enrollment activity.
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Customer Ratings & Reviews for Laughlin Insurance. Our customers have been giving us Five Star Reviews.
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Coredocuments.com is a compliance document vendor for employers. They provide ERISA Wrap Document, 125b Pre-tax program services, and other compliance services for employers for reasonable one-time fees. There are a lot of administrators that offer different levels of service and fees, but Core Documents is an affordable solution for your compliance needs. We can help employers with Core Document programs and setup. Read more about Core Documents here.
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CMS
CDC
CDC
healthcare.gov
IRS
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Connect with Laughlin Insurance |
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Paris Laughlin, President, Agent
(503) 936-0891 Cell
Stuart Ouellette, Agent
(503) 730-9022 Cell
Rachel Laughlin, Agent
Kai Krokum, Agent
503-282-0827 Office | (503) 282-0830 Fax | (877) 779-0788 Toll-Free
Laughlin Insurance Market Report is a periodic publication featuring the latest news of interest to employer, individual, and Medicare health insurance consumers throughout Oregon and Washington. Laughlin Insurance - Since 1997.
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