15 Day Advance Termination Limitations

[Yagents]

I've had a few clients recently get group coverage effective June 1st.

But of course, due to the moronic system at HC.gov, you can't terminate a policy within the next 15 days. Because as we know, everybody fits in the same box and "life" always follows a strict pattern.

Problem being is if I terminate a policy today, earliest term date is June 11th, but the client is on a new group plan eff 6/1 and won't be paying those 11 days of premium.

Will HC.gov send the APTC to the carrier for those 11 days?
Will it show up on the 1095A at end of the year?
Will the carrier send it back with non payment of premium?

 

[FLM2]

I've had a few clients recently get group coverage effective June 1st.

But of course, due to the moronic system at HC.gov, you can't terminate a policy within the next 15 days. Because as we know, everybody fits in the same box and "life" always follows a strict pattern.

Problem being is if I terminate a policy today, earliest term date is June 11th, but the client is on a new group plan eff 6/1 and won't be paying those 11 days of premium.

Will HC.gov send the APTC to the carrier for those 11 days?
Will it show up on the 1095A at end of the year?
Will the carrier send it back with non payment of premium?

Who knows?

My approach with this is I let it cancel per the Marketplace stupidity but then call the insurance company and change the billing from EFT to a direct bill, this way the client doesn't pay for any of those days.

 

[kgmom219]

Based on 2014...

The APTC is going to show up for at least 60 days and probably 90.

And the 1095 will be wrong. The FFM may even admit that its wrong. They might even tell you that they will send out a corrected 1095.

Then they send a letter stating that the 1st 1095 was accurate.

Had it happen to 3 clients.

 

[YouGotMyMoney]

change the billing from EFT to a direct bill, this way the client doesn't pay for any of those days.

Depending on the carrier, they may still be on the hook and sent to collections for the remaining balance.

 

[houcoogster]

I've had a few clients recently get group coverage effective June 1st.

But of course, due to the moronic system at HC.gov, you can't terminate a policy within the next 15 days. Because as we know, everybody fits in the same box and "life" always follows a strict pattern.

Problem being is if I terminate a policy today, earliest term date is June 11th, but the client is on a new group plan eff 6/1 and won't be paying those 11 days of premium.

Will HC.gov send the APTC to the carrier for those 11 days?
Will it show up on the 1095A at end of the year?
Will the carrier send it back with non payment of premium?

Yes
No
Yes...............IMHO

And to the collection boogeyman posters (not Y).......No

 

[Yagents]

Yes
No
Yes...............IMHO

And to the collection boogeyman posters (not Y).......No

It's true. C.......letters state collections if not paid.

 

[AllenChicago]

It's true. C.......letters state collections if not paid.

Yep Indeed. Client got one of those letters from HC.gov last week threatening to sue if APTC was not repaid. IRS expects carrier and insured to refund un-deserved APTC?

 

[houcoogster]

Yep Indeed. Client got one of those letters from HC.gov last week threatening to sue if APTC was not repaid. IRS expects carrier and insured to refund un-deserved APTC?

Wow really AC so your client was threatened by a law suit if they did not repay 15 days of subsidy that they did not want and called the marketplace and canceled their plan before this 15 day period of time???

Be honest now we need to know the truth. No exaggerations.

 

[FLM2]

Consumer doesn't pay premium for the month so policy terminates and it goes to collections?

IRS sends letter to client demanding repayment of an APTC that wasn't used for the month?

These can't be right...

 

[YouGotMyMoney]

Consumer doesn't pay premium for the month so policy terminates and it goes to collections?

IRS sends letter to client demanding repayment of an APTC that wasn't used for the month?

These can't be right...

Yeah, __ ___ ___ Ex_____ Billing Rep is who told me this, diff rep confirmed more than once.