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What does the irs say is the purpose of this change

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1. Based on the 1st article -The Cost Of Health Care Insurance, Taxes and Your W-2 By Kelly Phillips Erb

(Note: this $180 Billion tax break referenced in the article has grown to $250 Billion as we mentioned in class)

a. What change occurred to an employee's W-2's?

b. What does the IRS say is the purpose of this change?

c. If an employee earns $50,000, how are employer paid medical premiums treated with regards to the employee's federal income taxes?

2. Based on the 2nd article :  Number of Issuers Participating in the Individual Health Insurance Marketplaces : Timeframe: 2014 - 2018

(Note: use the sort functionality in the chart in the article)

a. List 3 States that will only have 1 Health Insurer Participating in the Individual Health Insurance Marketplace in 2018:

3. Based on the 3rd article -An Early Look at 2018 Premium Changes and Insurer Participation on ACA Exchanges By Rabah Kamal, Cynthia Cox

(Note: The Trump administration has stopped making payments to health insurance companies to compensate them for Cost Sharing Reductions(CSR))

a. What is the range (find the state with the highest and lowest charge) of monthly premium (before tax credits) for a 40 year old non-smoker based on the 2018 rate filings?

b. Which State has the highest premium charge and how is this rate increase potentially connected to the states referenced in article #2 - comment on this connection?

c. Even though DE rates (before the tax credit) have a percentage increase of 49%, the amount of premium actually charged an individual that qualifies for a tax credit (After tax credit) will change by what percentage? (hint - review Table 1) So who ultimately pays the cost of this premium increase for the individuals enrolled in the health insurance marketplace that are eligible for this tax credit?

d. Review Table 2, what were the monthly rates for DE in 2014, 2015, 2016, 2017 and 2018?

e. Bonus point - What Health Insurance Carrier withdrew from the DE 2018 Individual Marketplace ?

f. Due to the political uncertainty, Health Insurance Carriers were permitted to file 2 sets of rates.

What are the 2 factors on which Health Insurance Carriers were permitted to file an additional rate increase (both of which were eliminated by the Trump Administration)and what percentage additional increase is Highmark Blue Cross Blue Shield (the only remaining Health insurer in the Individual Health Insurance marketplace in DE) permitted to charge (see last column of Table 4)?

Reference no: EM131950533

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