HHS wants to med supps gaurenteed Issue

[vic120]

so the young and healthy is being forced to subsidize the old and sick. wild.

While $300/mo is probably a good deal for a 95 y/o in many parts of the country, I still don't think its a good idea

Plan N has been dominant, but its been creeping up was under $200 many years
till a few years ago then went to 215 I think in 2021 or 22
then 225 then 244 and now will go 265 in march

 

[axeman462]

When you are old and sick you just might appreciate that. That is partly what insurance risk pools are for.

this is the exact debate that went on for years during ACA.

Old people don't want to pay for school property taxes anymore because their kids are all grown up, but now want young people to pay for their medsupp insurance etc.. blah blah blah

thank God there are 50 states in this country, and not every law has to be exactly the same, and people have some real choice in their lives.

On a side note, NY population is decreasing and those people are flocking to Ga and Fla. Wonder why?..

 

[somarco]

proposed rule states that if the carrier receives any government subsidy (MA, PDP, ACA), all of the carrier's products are subject to non-discrimination.

Proposals often change before implemented. And this is a proposed rule change, not a change in the underlying law which would require an addendum to the law, passed by both Houses and signed by the prez (whomever that may be).

Rule changes are interpretations of the law and can be implemented by bureaucrats who are not elected and have no accountability to anyone.

This was discussed ad nauseum in another thread triggered by an Allison Bell article in ThinkAdvisor

Medigap Policies Face New Federal Nondiscrimination Rule

Somebody want to explain to me how this impacts Med Supps? Trying to eliminate UW? Birthday rule being required? Male/Female premiums required to be the same? https://www.thinkadvisor.com/2024/04/29/medigap-policies-face-new-federal-nondiscrimination-rule/

www.insurance-forums.com

 

[somarco]

If it is UHC community pricing (they are the only community risk pool in this state),

USAA uses community rating in GA but that may not apply in other states. In Georgia their rates are quite appealing to someone 80 and older . . . under 80, not so much.

 

[annon123]

On a side note, NY population is decreasing and those people are flocking to Ga and Fla. Wonder why?..

Umm let me guess: No need for snow shovels and windshield ice scrapers? (says the person who grew up in the snow belt and went to college in update NY) Oh and more sunshine than you get in the snow belt. (grin)

 

[somarco]

Seems to only apply to companies that sell both MAPD, PD and Med Supps.
So if a Med Supp company isn't in the MAPD and PD market it may not affect them.

There are a number of carriers that write Medigap but not PDP or MA.

As you point out, there are a handful that offer MA, PDP and Medigap.

Seems to be some wiggle room in this pipe dream.

FWIW, HHS did not have authority to regulate individual health insurance plans in 2010 - 2014 . . . but the carriers got greedy, thinking all this new business would flow to them because of govt mandate and this was a perfect opportunity to drop agents from the food chain.

Please sir, may I have another?

By the time 2014 rolled around they discovered they were duped by a fast talking con man and most of them left the market before 1/1/2024. Several who stayed decided to drop out in the next few years.

 

[OklaMan]

My personal opinion is that nation wide guaranteed issue would further push people on advantage as prices would get out of control and companies would stop selling them. At this point enough states still let carriers do underwriting so that companies can still make money.

Yeah, I'm thinking that's the end goal.

 

[axeman462]

Yeah, I'm thinking that's the end goal.

i think eventually MAPD and Obamacare will merge into one as well

 

[InsuranceGuy29]

That is true. However, the proposed rule states that if the carrier receives any government subsidy (MA, PDP, ACA), all of the carrier's products are subject to non-discrimination. Leverage. I am sure there is a way to spin off a MedSupp only division, but it does appear that life or prop/casualty carriers would be the only one exempt

This. They'll always find a way to seize control and power. It's what the Democrat politicians do best. They want it all.

 

[Tom in RI]

I work some in Massachusetts where MedSup is always GI. Rates at entry are higher than my main market in RI and the discount period is only 3 years. But, for someone in their mid 70's and up rates are comparable. There's some talk that Rhode Island may go GI, I hope they do, it's so much more consumer friendly.