Can we be friends?
Health insurance doubled !
- Thread starter insurance5511
- Start date
Can we be friends?
- 15,319
ACA approved, meaning compliant in that one will not receive a tax penalty, that is all. These alternative plans are not insurance and do not need to meet the qualifications of an ACA plan as we would know them i.e. they do not MEC status nor do they cover all of the EHBs
- 15,041
Compliant and approved are not the same thing.
- 10,329
If this, or any other "alternative health plan" is APPROVED by any government entity, there is a publicly accessible document that states the approval of that product.
Still waiting for a link to that document for this or any other "alternative health plan".
As Vol said, being Compliant with a set of regulations, and being Approved by a state or federal entity, are extremely different things.
Approval means the product has been reviewed for sale by a state or federal agency.
Compliant means that someone, not affilated with a regulator, has decided this product meets a set of regulatory guidelines.
To my knowledge, no regulatory agency out there is issuing Letters of Opinion on these "alternative health plans".
Still waiting for a link to that document for this or any other "alternative health plan".
As Vol said, being Compliant with a set of regulations, and being Approved by a state or federal entity, are extremely different things.
Approval means the product has been reviewed for sale by a state or federal agency.
Compliant means that someone, not affilated with a regulator, has decided this product meets a set of regulatory guidelines.
To my knowledge, no regulatory agency out there is issuing Letters of Opinion on these "alternative health plans".
There's a CMS form (Its Nov 28.....cut me some slack on the number) that makes a sharing plan compliant as offering an exemption to the mandate. It means they go through an annual review, including a fiscal review from an outside firm.
- 10,329
Interesting. What are the requirements for the fiscal review? Is it an actual audit? Is it required to be made public? (I have never been able to find any publicly available audits of any of these plans)
Is CMS reviewing the audit? Or are they just reviewing the "religious requirements" and if they qualify the plan for the religious exemption?
Its an outside "approved" firm that does the audit and the letters are issued annually. But beyond that, no clue.
But the plans are still crapola....
Most of these plans in the past were unregulated. When they blew up, as they often did, the AG in the respective state(s) stepped in.
By that time the plan had folded and the crooks were sipping drinks with parasols in them and watching scantily clad women.
I suspect this is a lot like the viatical market. That one also flew under the radar for a long time until they blew up. All of a sudden the products were considered unregistered securities.
These sharing plans have experienced great growth thanks to Obama.
Of course gun sales have increased as well but that is a different story.
My guess is these plans are still mostly unregulated and will remain so at least for a while until they stop paying claims and enough people complain.
If CMS is "approving" and "auditing" these plans it may be a while before the underfunding see's the light of day.
By that time the plan had folded and the crooks were sipping drinks with parasols in them and watching scantily clad women.
I suspect this is a lot like the viatical market. That one also flew under the radar for a long time until they blew up. All of a sudden the products were considered unregistered securities.
These sharing plans have experienced great growth thanks to Obama.
Of course gun sales have increased as well but that is a different story.
My guess is these plans are still mostly unregulated and will remain so at least for a while until they stop paying claims and enough people complain.
If CMS is "approving" and "auditing" these plans it may be a while before the underfunding see's the light of day.
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