WOW just starting to get calls from my clients after they received their annual renewal notice from the 2 carriers here in Iowa who are doing the ACA subsidy plans. About 250% increase in monthly premiums! This is nuts - who is going to be able to afford this now? And how is this allowed and what is the reason for these huge increases? Many clients are telling me they will drop their plans and go without. They aren't interested in the huge deductible bronze plans that don't pay sh*t. Would like to hear what your clients are saying/doing and are you all having these HUGE premium increases (i.e. 200-300%) in other states as well?
ACA Plans in Iowa Increased Premiums 250%
- Thread starter Nikita
- Start date
- 5,056
what you expect when u got only 2 carriers to spread that risk around?
- 8,448
Value Penguin is very convenient for comparing 2014 premiums against 2015. You can easily toggle between the two.
The difference between 2014 and 2015 premiums in Des Moines county for a 40 year old don't seem to be out of line with what most states are experiencing.
But it is a shame that only 2 companies (Coventry and CoOpportunity) offer plans. Why is that?
ac
The difference between 2014 and 2015 premiums in Des Moines county for a 40 year old don't seem to be out of line with what most states are experiencing.
But it is a shame that only 2 companies (Coventry and CoOpportunity) offer plans. Why is that?
ac
Welcome to the Affordable Care Act, Nikita.
I get constant calls, too, about the terrible rate increases.
I've lost track of the numbers (percentages of increase).
I think they are ranging from 10% to 150% in Texas, where we have just as many carriers as we've always had.
Many clients call me crying.
Others are angry.
Many say they just can't afford it & will drop coverage.
Nothing is "affordable" unless the govt (the taxpayer) is paying for their coverage.
Didn't Obama say that his magical fix would result in coverage that costs less than your cell phone bill? Guess who his target audience was? Certainly wasn't most of my clients.
I get constant calls, too, about the terrible rate increases.
I've lost track of the numbers (percentages of increase).
I think they are ranging from 10% to 150% in Texas, where we have just as many carriers as we've always had.
Many clients call me crying.
Others are angry.
Many say they just can't afford it & will drop coverage.
Nothing is "affordable" unless the govt (the taxpayer) is paying for their coverage.
Didn't Obama say that his magical fix would result in coverage that costs less than your cell phone bill? Guess who his target audience was? Certainly wasn't most of my clients.
- 948
All of the carriers will eventually cancel all pre-ACA style plans. It's a given. Unfortunately, people have no "affordable" option to choose from . . .very sad - these are all self-employed, small business people for the most part who have always had coverage. Now they are faced with horrible choices. . . .
Exactly right!!
There is only so much money to go around in a business or working class family.
In NC, we had UHC come into the market and low ball the silver plans with strict HMO plans. That has altered what is the second lowest silver plan, thus creating large overall rate changes from 2014 to 2015. Basically you have the rates themselves going up, but the subsidy is not going up as much because of the new 2nd lowest cost silver plan...Lots of heavily subsidized people getting large % increase (even though the dollar amount may not be very big - example $12 for 2014, $50 for 2015). Either way, it's difficult for them to keep that plan with a low income.
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