TurboTax Is Integrating With EHealth
eHealth, the United States’ predominant private Internet health insurance exchange, has announced that it will enter into a partnership with Intuit Inc.. Inuit’s TurboTax product is currently used by over 20 million Americans to simplify the tax filing process. With this partnership, TurboTax users will be able to simply navigate their health insurance options to either acquire more desirable insurance or to comply with the conditions of the Affordable Care Act (ObamaCare). Both parties hope the agreement will expand consumer enrollment.
eHealth, and other health care exchanges, function in a similar fashion to health care benefits that some corporations provide their employees. Corporations that provide health insurance receive lower prices than individuals. Because companies purchase insurance for a large number of people, they receive a lower price on a per capita basis. Health insurance exchanges operate with this same concept but independently from a corporate entity. eHealth gathers lots of people together and buy health insurance in bulk.
Now with TurboTax integration thanks to Intuit Inc., eHealth will be more effective than ever before. Going forward TurboTax customers will have access to eHealth’s online health insurance exchange. With over 20 million current customers, eHealth’s enrollment will increase. With more customers, eHealth will gain even lower prices because it will purchase insurance for a larger group of people.
This integration is especially significant because of its implication for the Affordable Care Act. Starting in 2014, most citizens will be required to have health insurance. If they do not, they will pay an additional 1 % income tax. With the eHealth TurboTax integration, more people than will be able to afford health insurance. This both helps protect their health as well as avoid the additional tax.