CMS is About to Contact Your ON Exchange Clients

[houcoogster]

Are they canceling at hc.gov or bcbs?

Mine are canceling at BC like I said. Maybe they're doing a three way double redirect or some chit who knows.....

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Funny thing though: One subsidy client with what she said will be almost exact same income, I ran quotes for her plan for 2015 then deducted the subsidy she was receiving and it was $8.00 cheaper per month. Can't figure that one out since most plans were over 17% increase.

The only thing I can think of is as the plan gets more expensive with age the way the subsidy calculation works it fills in larger for the older ages. In a nutshell older person pays less even if income is the same as a younger person (in some cases).

 

[Yagents]

Funny thing though: One subsidy client with what she said will be almost exact same income, I ran quotes for her plan for 2015 then deducted the subsidy she was receiving and it was $8.00 cheaper per month. Can't figure that one out since most plans were over 17% increase.

How are you able to run quotes for 15' for FB, including the new FPL numbers, and the new second lowest cost silver?

If you have access to all the above, the reduced rate is due to:

1. % of income cap if subsidy eligible. The gov't is picking up the 17% increase, because her premium is capped to % of income.

2. The benchmark plan changed, probably higher, producing more tax credits.

 

[bluediamond]

We've been able to run quotes for 2015 since Oct 1, FB has oep off marketplace now.

I took what the full rate would have been and used her subsidy she was receiving now. If she is going to make the same income in 2015 as this year and the FPL went up a little she should but I'm not positive receive approximately the same subsidy. I may not have been paying attention but didn't hear their benchmark plan was changing, again the meeting was awful boring.

Gotta add though, there are a couple of lesson's they put online I haven't bothered to look at yet. Just been too busy this week, well maybe not that busy, seminar's were a bust this week.

 

[kgmom219]

How are you able to run quotes for 15' for FB, including the new FPL numbers, and the new second lowest cost silver?

Y.....some states/carriers have released the numbers. Just not ours

 

[FLM2]

How are you able to run quotes for 15' for FB, including the new FPL numbers, and the new second lowest cost silver?

If you have access to all the above, the reduced rate is due to:

1. % of income cap if subsidy eligible. The gov't is picking up the 17% increase, because her premium is capped to % of income.

2. The benchmark plan changed, probably higher, producing more tax credits.

I was thinking the same thing about subsidies-if the benchmark premium is higher (and will be in most areas in Florida) then the subsidy should increase by about the same amount as the premium increase (with a very slight adjustment for changes in the FPL), right?

 

[Ann H]

I was thinking the same thing about subsidies-if the benchmark premium is higher (and will be in most areas in Florida) then the subsidy should increase by about the same amount as the premium increase (with a very slight adjustment for changes in the FPL), right?

Correct. You can count on 2 things going up - FPL goes up by a very small amount, and everyone's age increases. For this example, let's assume that 3 things stay the same as last year - household MAGI income, family size, and number of people insured. That means the only other moving parts are benchmark premium and premium of the plan the client chose to buy.

So, assuming they bought the benchmark plan, or assuming that the plan they want to buy goes up at about the same percentage as the benchmark plan goes up, then the subsidy will be relatively flat. This will be true in many areas. In some states, the vicious competition over the coveted benchmark plan is causing its premium to go down or to increase at a rate vastly different than other plans.

 

[FLM2]

Correct. You can count on 2 things going up - FPL goes up by a very small amount, and everyone's age increases. For this example, let's assume that 3 things stay the same as last year - household MAGI income, family size, and number of people insured. That means the only other moving parts are benchmark premium and premium of the plan the client chose to buy.

So, assuming they bought the benchmark plan, or assuming that the plan they want to buy goes up at about the same percentage as the benchmark plan goes up, then the subsidy will be relatively flat. This will be true in many areas. In some states, the vicious competition over the coveted benchmark plan is causing its premium to go down or to increase at a rate vastly different than other plans.

Ann, thanks for the confirmation-if there was an Over/Under line on the percentage of licensed agents who understand this it would be on the order of 1% in all likelihood; the Over/Under for consumers would be on the order of 0.0001% or less.

 

[somarco]

What are they chances that the general public even knows that there is a "new and improved" version? Or the chances that either one of them is going to work on Nov 15?

H8r.

One subsidy client with what she said will be almost exact same income, I ran quotes for her plan for 2015 then deducted the subsidy she was receiving and it was $8.00 cheaper per month. Can't figure that one out since most plans were over 17% increase.

Maybe she got younger since last year.

 

[houcoogster]

H8r.



Maybe she got younger since last year.

You don't understand...this is Obamaworld as you get older it gets cheaper....just take everything you thought you knew and turn it inside out and then upside down and you will have it right....

 

[Yagents]

You don't understand...this is Obamaworld as you get older it gets cheaper.

Only if you're subsidy eligible and you use APTC to buy a bronze plan.

Silver plan purchase should stay flat as they age.