Cancelling Marketplace Subsidized Plan?

[jefflange]

One of my clients that we set up through HealthCare.gov who received a subsidy has a new job with benefits starting August 1st.

Any idea how the insured to cancel their Marketplace Plan?

I visited the site and I don't see any tabs for cancellation of current plans.

Anyone done this yet.

 

[Tkruger]

One of my clients that we set up through HealthCare.gov who received a subsidy has a new job with benefits starting August 1st.

Any idea how the insured to cancel their Marketplace Plan?

I visited the site and I don't see any tabs for cancellation of current plans.

Anyone done this yet.

2 Options:

1) have them log into their marketplace account and click on the My plans & programs choose to End (Terminate) All Coverage option.

2) call the marketplace and have the client End (Terminate) All Coverage

 

[Yagents]

Are you able to pick a specific effective date of cancellation?

I thought there was a problem that the policy is being terminated the day you call or do it online

 

[Tkruger]

Are you able to pick a specific effective date of cancellation?

I thought there was a problem that the policy is being terminated the day you call or do it online

Not sure. Every time I've done it was an effective immediately.

 

[RayNY]

Not sure. Every time I've done it was an effective immediately.

By "effective immediately" I presume you mean that the plan is cancelled as of the last paid day on record?

Client paid July premium in June, they're paid through July 31. Cancellation requested today, effective immediately, is July 31.

The exchange clients I had terminate all had it work this way.

Could you please confirm?

 

[Tkruger]

By "effective immediately" I presume you mean that the plan is cancelled as of the last paid day on record?

Client paid July premium in June, they're paid through July 31. Cancellation requested today, effective immediately, is July 31.

The exchange clients I had terminate all had it work this way.

Could you please confirm?

Correct. Paid thru the end of the month. Going into my back office I've had 2 different types of cancellations. One is a rewrite due to QLE and income increasing or decreasing, the other is cancelling that plan due to network, costs or income increase all together.