Special Enrollment Created for Taxpayers Surprised by Affordable Care Act Penalty
A good laugh and a long sleep are the best cures in the doctor's book.  ~ Irish Proverb (Photo by Vangelis Thomaidis)

A good laugh and a long sleep are the best cures in the doctor’s book. ~ Irish Proverb (Photo by Vangelis Thomaidis)

The 2014 tax year was the first year that people with no health insurance had to pay a penalty. Because there were so many caught off-guard, a special enrollment period was opened to help people get health coverage for 2015.

The penalty for not having health insurance, or an exemption, last year was $95 per adult and $47.50 per child (up to $295 for a family) or 1.0% of family income, whichever is greater. The penalty for not having health insurance, or an exemption, this year will be $325 per adult and $162 per child (up to $975 for a family) or 2.0% of family income, whichever is greater.

Everyone who does not have an exemption needs to purchase health insurance to avoid paying a penalty when they file their 2015 taxes next year.

Today’s guests are Graham McCaulley and Brenda Procter. Both are associate professors of finance for University of Missouri Extension.

 

 

Affordable Care Act Marketplace

University of Missouri Extension Health Insurance Education Initiative

Poison Proof Your Home
What dangers are hidden under your kitchen sink? (Photo by Jon Lamb)

What dangers are hidden under your kitchen sink? (Photo by Jon Lamb)

If you do a quick inventory of the chemicals in your home, I bet the list is long. Toilet bowl cleaners, medicine, cosmetics, tile cleaners, bathroom deodorizers, mouthwash, mothballs, nail polish remover, bleach and ammonia are found in the kitchen and bathroom of most homes. More than 90 percent of poisonings occur in the home and most are preventable if you can keep poison away from tiny fingers.

 

 

Today’s guest is Kandace Fisher-McLean, housing and environmental design specialist for University of Missouri Extension.

 

Poison Safety

Hazardous Look-A-Likes in a Child’s World

Poison Control Hotline: 1-800-222-1222

Healthcare Reform and Your Taxes

  Now that healthcare reform is the law of the land, you might wonder how it will affect your taxes.Whether your income is high, low or in-between, when you file your income taxes this year you will asked about your health insurance in 2014.   Today’s guest is Andrew Zumwalt, assistant professor of finance for University…

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Employer’s responsibility under the Affordable Care Act

The Affordable Care Act includes a variety of provisions that reform the insurance market and encourage small businesses to offer health insurance. Depending on whether you are an employer with fewer than 25 employees, one with fewer than 50 employees or an employer with 50 or more employees there are different requirements of the Affordable…

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Guess Who’s Coming to Dinner? – Asian Carp
Executive Chef Eric Cartwright serving up Pasta Puttanesca using silver carp instead of anchovies (Photo by Jon Lamb)

Executive Chef Eric Cartwright serving up Pasta Puttanesca using silver carp instead of anchovies (Photo by Jon Lamb)

Asian carp  average 30-40 pounds and are voracious eaters capable of consuming 5-20 percent of their body weight every day. They eat algae and other small microscopic organisms, stripping rivers of a key food source for small and big fish. They grow big very quickly meaning natural predators can’t control their population numbers.

They are choking the rivers in the Midwest and threatening the Great Lakes. But a University of Missouri researcher says there’s one carnivore that can bring this invasive species under control…humans. MU has found a way to eliminate the bones creating a healthy and inexpensive ground protein.

Today’s guests are Mark Morgan, an associate professor of parks, recreation and tourism for the University of Missouri and Eric Carpenter, executive chef for the University of Missouri.

 

 

Asian Carp Control

 

 

Silver carp, disturbed by a boat, leap into the air (Photo by Jason Jenkins)

Silver carp, disturbed by a boat, leap into the air (Photo by Jason Jenkins)

Tax refund? How will you use it?
"I like to pay taxes. With them, I buy civilization." ~ Oliver Wendell Holmes Jr. (Photo by Mikhail Popov)

“I like to pay taxes. With them, I buy civilization.” ~ Oliver Wendell Holmes Jr. (Photo by Mikhail Popov)

Most of us know Benjamin Franklin’s saying about death and taxes. We also know that neither is very pleasant. But, many taxpayers will see a refund this year and will have to decide what to do with their sudden windfall.

Today’s guest is Andrew Zumwalt, assistant professor of finance for University of Missouri Extension. He has a few suggestions about how to put your refund to good use.

 

 

Missouri Taxpayer Education

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January went from bitter cold to mild temperatures
"Winter is the season in which people try to keep the house as warm as it was in the summer, when they complained about the heat." ~ Author Unknown (Photo by Aureliy Movila )

“Winter is the season in which people try to keep the house as warm as it was in the summer, when they complained about the heat.” ~ Author Unknown (Photo by Aureliy Movila )

Temperatures in January were a pendulum swing for Missouri.  While there were many bitter cold days, unlike our neighbors in New England, the Show-Me State saw very little snow.

Today’s guest is Pat Guinan, climatologist for University of Missouri Extension’s Commercial Agriculture Program.

Missouri Climate Center

Living Apart, Together – A choice that’s working for older couples
“Love does not consist in gazing at each other, but in looking together in the same direction.” ~ writer Antoine de Saint-Exupery (Photo by Mike DelGaudio)

“Love does not consist in gazing at each other, but in looking together in the same direction.” ~ writer Antoine de Saint-Exupery (Photo by Mike DelGaudio)

Some older adults are finding traditional marriage a less desirable choice for later-in-life relationships. Jacquelyn Benson, a University of Missouri Extension gerontology specialist, has been studying older adults in Living Apart, Together, or LAT relationships. For LAT couples, each partner maintains their own home, but they are in a committed, intimate relationship.

Today’s guests are researcher Jacquelyn Benson and Robert Dolliver and Joyce Huber who are in a LAT relationship with each other.

 

 

Living Apart, Together

Businesses using health reimbursement plans could be in a pickle
“You don’t pay taxes – they take taxes.” ~ comedian Chris Rock (Photo by Levy Choi)

“You don’t pay taxes – they take taxes.” ~ comedian Chris Rock (Photo by Levy Choi)

A Department of Labor decision in November last year declared that employers who do not offer health insurance but instead reimburse employees for the cost of acquiring health insurance have essentially established a “group health plan.” These plans would then be subject to ACA market reforms and be deemed non-compliant because the accounts impose limits on the amount of reimbursement and may not cover all required health benefits. This decision was made retroactive to Jan. 1, 2014. Non-compliance comes with a stiff fee.

Today’s guest is Brenda Procter, associate professor of family finance for University of Missouri Extension. She explains the ruling, the penalty and what employers need to do to avoid a fine.

2015 sign-up deadline for Affordable Care Act marketplace fast approaching
“Your body is your most priceless possession…so go take care of it!” ~ Jack Lalanne (Photo by Robert Linder)

“Your body is your most priceless possession…so go take care of it!” ~ Jack Lalanne (Photo by Robert Linder)

If you’re planning to get health insurance through the Affordable Care Act marketplace, time is running out. You only have until February 15.

This is the first year there is a fee if you didn’t have health insurance in 2014. There are many exceptions to avoid the fees. Graham McCaulley and Brenda Procter, both associate professors of family finances for University of Missouri Extension, explain these fees and the exemptions.

 

 

MU Extension Health Insurance Initiative

Affordable Care Act marketplace