One Big Beautiful Bill Act: Impacts on Obamacare, Health Insurance Options, and Tax Reduction

A small, but growing portion of the US population participates in the health insurance marketplace, commonly known as Obamacare. This marketplace offers direct access to health insurance plans from major providers, while also providing a potential insurance premium tax credit for eligible participants, based on household income and participant age, making monthly premiums more affordable for many. 

Given the continued surge in health-related costs, legislation several years ago enhanced the premium tax credit for many households; however, the One Big Beautiful Bill Act, signed in July, has eliminated this additional credit. 

Today we’ll explore some of the repercussions of this decision and its impact on Wyoming individuals and families. We’ll explore some alternative paths to health coverage to help families ensure they’re sufficiently protected from the high costs of health-related incidents, and share an example of how Obamacare can still be a viable health insurance option.

One Big Beautiful Bill Act: The New Senior Deduction and Social Security Impacts

You’ve likely heard now that a few weeks ago Congress passed the One Big Beautiful Bill Act, which President Trump signed into law on July 4th.

It’s a huge bill, with sweeping tax implications for individuals, families and businesses. For the next several months I’m going to explain certain changes or new items that have come from this law. These articles will be geared toward Wyoming retirees, but we hope many readers will find them helpful.

This month we’ll start by explaining the new tax deduction available to certain seniors, and clear up some confusion about how this affects taxes paid on Social Security benefits.

Stock Market Lessons From a Weird 2025 (So Far)

I’m writing on the last day of June. This of course marks the end of the second quarter, the years’ official halfway point, and is another reminder that Wyoming summers are short, and I’ve spent too much time at work and not enough time horsing around with my kids outside.

The last three months have been particularly interesting in financial markets, so I thought I’d write a quick post reflecting on some of the key lessons I’ve observed so far this year.

Diversification Means You're Never 100% Satisfied

The US stock market’s performance during the first quarter has been “interesting” once again. 

Of course, no one is happy to see their stocks (and overall portfolio) go down in value, but there are some valuable lessons to glean from what’s been happening this year that are worth pointing out, because it highlights an absolutely critical principle every investor must understand. It is this…

When you’re well diversified, you’re never 100% happy. Let me explain.

The IRA Tax Bomb

Many Wyoming workers take advantage of employer retirement plans, like 401ks or 457s, which offer tax-deferred contributions as well as matching contributions from the employer. This is an incredible benefit that should seldom be passed up. Even when you don’t have access to a 401(k), IRAs are also available to help lower your taxes and get tax-deferred growth.

A problem comes, however, when an account holder reaches the age to begin Required Minimum Distributions, or RMDs. These are amounts of money that MUST be taken from the retirement account, and taxes paid on the withdrawal.