How Many?

[RayNY]

Keep in mind, they can be 89 days late, but the next payment is still due 30 days after that (with 2 full payments in arrears due, technically). Miss the next month's payment by a day? Termed 2-3 months retro (depending on whether they term to paid, or term to when they have to honor claims).

Honestly, there is really no reason to pay the whole year any more, you get 12 months of FULL coverage for 11 months premium. Why would ANYONE pay the final month? You get 10 Months full coverage, and a month of screwing your provider, and no penalty (but 30 days "pended claims"), for paying 9 months premium.

You could even pay 6 months, get 7 months full coverage, a month of screwing the provider, a month of limbo before being termed, 3 months of lapse, and have no penalty (but you'd be uncovered for a quarter). Half price insurance anyone?

What kind of sucker would pay for all 12?

 

[AllenChicago]

Even the guy who pays 63 cents per month would like to get a month for free!

 

[RayNY]

Hell yeah he wants a free month!
12 months of full coverage, plus a whole pack and a half of Juicy Fruit!? Better believe he's skipping that last month of optional premium.

 

[houcoogster]

This thing is way over blown. It won't cause mass delinquency. The problem can be easily solved by requiring any money owed to any exchange carrier to be paid before new carrier coverage would be effective and usable.

 

[HealthGuy]

Hoogster: Simple solution but will it be implemented?

 

[houcoogster]

Hoogster: Simple solution but will it be implemented?

Hey I got one better than the first. You don't pay your Nov and Dec premium?..ok...thats cool.....you owe the Govt back the subsidy paid those two months on your behalf! How fast you think those premiums get paid now? Ratt N' Roll

 

[Yagents]

For everyone that did massive exchange business, this article discusses a large percentage that will be subject to the clawback. Gonna love those calls next year. None of my off exchange business will have to deal with this:

Are ObamaCare's Tax Credits Harmless? The Little Understood Dark Side Of The Subsidies - Forbes

 

[russelltw]

In the article he says "Just a few dollars of extra income could result in thousands of back taxes to be paid." This makes no sense. If you are at 391% FPL, your subsidy is very small to start with. So I see no way that a change income of a few dollars would result in thousands of back taxes to be paid. Even those who make less than 100% (who estimated more than 100%) would pay only a portion back of what they received. The 250% level to me seems like it would cause the most trouble. Not sure how it is in other states, but this does not appear to be much of an issue in my state for now. We tried to do a good job of confirming that people did not have access to group insurance through employer or spouse's employer. I could see trouble if client earns 250% and spouse gets a job that moves them over 400%. Not sure where any other small income changes would have a big effect.

As a CYA move, agents should remind clients that live changes can result in repayment and they should report those to the exchange.

 

[Quotebroker]

In the article he says "Just a few dollars of extra income could result in thousands of back taxes to be paid." This makes no sense. If you are at 391% FPL, your subsidy is very small to start with. So I see no way that a change income of a few dollars would result in thousands of back taxes to be paid.

This can easily happen. Married couple each age 63, 90210 zip code, one dollar below the cutoff they get $8604 in subsidies. One dollar above it they get nothing.

 

[AllenChicago]

In the article he says "Just a few dollars of extra income could result in thousands of back taxes to be paid." Not sure where any other small income changes would have a big effect.

A few dollars in extra income to the FORBES family (worth $1.3Billion) could be a pretty large amount to the average worker.