ACA Government Co-Ops: Is This Experiment Working In Your State?
- Thread starter AllenChicago
- Start date
- 5,058
Gosh I wish they weren't the lowest price Illinois carrier this year.
sell somewhere else.
- Thread starter
- #33
- 8,448
Easy advice to give, but unfortunately the grass is not greener elsewhere. Pick a state and this insane law is giving residents the shaft, in some form or another.
Our co-op in TN just pulled out of the marketplace for the year. They said they had hit their enrollment goals. They went from something like less than 500 enrollees last year to 50,000 for 2015. Huge increase, hoping they have the reserves to deal with that.
So, here's what I am curious about. They had the lowest priced plans by about 20% (hence the large number of people enrolling with them). I don't know the actual number, too lazy to look it up right now.
Are the people that I am enrolling between now and February 15th going to actually get higher subsidies than the folks who enrolled two days ago? Because the plans that are available to them now have higher premiums. The second-lowest priced silver plan now available costs about 20% more than it was two days ago (pre-subsidy). Just an estimate, not sure of exact %. Based on my enrollments today, it seems like they are getting increased subsidies to keep it at 9.5%.
What does this do for people who signed up two days ago with carrier X and were told it was $150 a month after subsidy, when someone who signs up yesterday with carrier x (identical otherwise, same start day, everything) will are paying $125 a month (or whatever-again too lazy to do math) because they get more subsidy?
Does anyone have any idea? Just settle it on the taxes at the end of the year? Base subsidy amount on the application date and what plans were available at the time? Any way to get that additional subsidy for the folks who signed up 2 days ago?
So, here's what I am curious about. They had the lowest priced plans by about 20% (hence the large number of people enrolling with them). I don't know the actual number, too lazy to look it up right now.
Are the people that I am enrolling between now and February 15th going to actually get higher subsidies than the folks who enrolled two days ago? Because the plans that are available to them now have higher premiums. The second-lowest priced silver plan now available costs about 20% more than it was two days ago (pre-subsidy). Just an estimate, not sure of exact %. Based on my enrollments today, it seems like they are getting increased subsidies to keep it at 9.5%.
What does this do for people who signed up two days ago with carrier X and were told it was $150 a month after subsidy, when someone who signs up yesterday with carrier x (identical otherwise, same start day, everything) will are paying $125 a month (or whatever-again too lazy to do math) because they get more subsidy?
Does anyone have any idea? Just settle it on the taxes at the end of the year? Base subsidy amount on the application date and what plans were available at the time? Any way to get that additional subsidy for the folks who signed up 2 days ago?
They didn't plan for these contingencies. They expected all states to expand medicaid, and all carriers to LUV O'care once they got a little taste.
Use a quote engine, and use one that has taken them out, and compare to past client subsidy amounts. Same with HC.gov quotes.
Use a quote engine, and use one that has taken them out, and compare to past client subsidy amounts. Same with HC.gov quotes.
Yes, I have double-checked.
63 and 62 year-old married couple, 30,000 annual income
Back in December when I signed them up they were eligible for $707 in subsidy. The only affordable option for them was the co-op because as someone mentioned they had the 8 lowest-priced silver plans at the time.
Now hc.gov says that they are eligible for $846 a month, and their preferred carrier is now affordable for them at not very much more than they are paying now.
Yes, I am thinking particularly of a single 33 year old that I wrote off-exchange. He is under 400% of FPL but wasn't eligible for a subsidy because the second-lowest priced silver plan was less than 9.5% of his income. I would have to run the numbers, but it's going to be close now.
A mess, indeed.
A mess, indeed.
- Thread starter
- #40
- 8,448
February 11, 2015
Latest Info on the overall state of the ACA's Co-operative Health Insurers..
Government funding is drying up. Enrolling a lot of members is bad. Enrolling too few members is bad.
Story: http://www.modernhealthcare.com/art...en-worse-financial-problems-than-cooportunity
I bet the people in charge of these failing ObamaCare cooperatives have a newfound appreciation for what it takes to become a successful, profitable health insurance company.
ac
Latest Info on the overall state of the ACA's Co-operative Health Insurers..
Government funding is drying up. Enrolling a lot of members is bad. Enrolling too few members is bad.
Story: http://www.modernhealthcare.com/art...en-worse-financial-problems-than-cooportunity
I bet the people in charge of these failing ObamaCare cooperatives have a newfound appreciation for what it takes to become a successful, profitable health insurance company.
ac
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