Changes from 2015 to 2016... Rules, Premiums, Plans, Exchanges, Etc.
- Thread starter AllenChicago
- Start date
And that's why we'll see more consolidation and more carriers just drop major med completely.
If we have more than 2-3 carriers in most states in five years I'd be surprised. And I'm guessing on the high side. Might be more like 1 or 2 carriers.
Yes, it's the optimist in me. It's an internal battle between the optimist and cynic.
And I thought it was just my clients being affected.................
Obamacare 'paid' enrollment drops to 9.9M
As of June 30, about 9.9 million people were paying for coverage they purchased through government-run Obamacare health insurance marketplaces, the federal government revealed Tuesday. The drop-off mirrored a similar decline in enrollments seen last year, the first in which people had Obamacare coverage.
The new tally is down from the 10.2 million paying Obamacare customers reported as of late March, and from the 11.7 million people who actually signed up for coverage as of February, when open enrollment in the plans closed.
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Officials also said that as of the end of June about 423,000 customers had their coverage for 2015 terminated because they failed to provide sufficient documentation of citizenship or immigration status required to be eligible for Obamacare plans.
Another 976,000 households have had adjustments made to the federal subsidies they receive to help pay for their Obamacare plans' premiums, and/or to the assistance they get in paying for out-of-pocket health expenses, officials said. Both the subsidies and cost-sharing aid are tied to people's annual income levels, and can be adjusted if a household's self-reported income differs from data showing actual income.
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Experts have predicted that getting additional people to sign up for health plans on the government-run marketplaces could prove more difficult this year and in the future, because many people who were eager to get coverage have already signed up, while the remaining uninsured may be disinclined to enroll or feel the plans are not affordable.
Obamacare 'paid' enrollment drops to 9.9M
As of June 30, about 9.9 million people were paying for coverage they purchased through government-run Obamacare health insurance marketplaces, the federal government revealed Tuesday. The drop-off mirrored a similar decline in enrollments seen last year, the first in which people had Obamacare coverage.
The new tally is down from the 10.2 million paying Obamacare customers reported as of late March, and from the 11.7 million people who actually signed up for coverage as of February, when open enrollment in the plans closed.
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Officials also said that as of the end of June about 423,000 customers had their coverage for 2015 terminated because they failed to provide sufficient documentation of citizenship or immigration status required to be eligible for Obamacare plans.
Another 976,000 households have had adjustments made to the federal subsidies they receive to help pay for their Obamacare plans' premiums, and/or to the assistance they get in paying for out-of-pocket health expenses, officials said. Both the subsidies and cost-sharing aid are tied to people's annual income levels, and can be adjusted if a household's self-reported income differs from data showing actual income.
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Experts have predicted that getting additional people to sign up for health plans on the government-run marketplaces could prove more difficult this year and in the future, because many people who were eager to get coverage have already signed up, while the remaining uninsured may be disinclined to enroll or feel the plans are not affordable.
- Thread starter
- #96
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Also, the premiums for 2016 are increasing to a greater degree than the penalty-tax punishment for not having insurance. For though weighing the pure cost of premiums vs the penalty, it will still be cheaper to not have Minimum Essential Coverage in 2016.
- 1,861
Stop being so pragmatic. I hate logical people
- Thread starter
- #99
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As YAgents pointed out, only logical/rational prospects understand that their good health could change in the blink of an eye. Those who decide not to get health insurance because it costs more than the penalty-tax are neither.
I have a few healthy over 400% FPL clients who buy 1 Year Short Term plans and pay the penalty, without protest. Each O.E. they ask, "Allen, what will be my premium and what is the penalty?" I tell them. Without hesitation, they ask for another year of STM. Are these consumers illogical or irrational? I don't know. They've done this for several years now... some, since before ObamaCare.
We'll see what happens when the Premiums for 2016 are announced. We already know that the penalty-tax will be 2.5% of income, or $695 per family member (max of 3), whichever is greatest.
I am bracing for a ton of those AllenChicago. Family of 4 making $110,000, etc.
2015 coverage is at $800 a month for minimum coverage (6,000 deductible) , going up to $1100 a month most likely in 2016. So $13,200 just on premiums.
Fine for them will be what, $2,100?? If they don't get sick, they win big time. If they do get sick, they pray it is in December and then just sign up for major medical for the following January.
2015 coverage is at $800 a month for minimum coverage (6,000 deductible) , going up to $1100 a month most likely in 2016. So $13,200 just on premiums.
Fine for them will be what, $2,100?? If they don't get sick, they win big time. If they do get sick, they pray it is in December and then just sign up for major medical for the following January.
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