HSA Doomed?

By the time those blocks of grandfathered plans get to 2014, the rates will probably be higher than a bronze plan anyway.

Probably a lot of truth there.

The pool of grandfathered plans essentially becomes a stagnant, dying block.

Overall, Obamacrap has made health insurance impossible to own or even rent.
 
By the time those blocks of grandfathered plans get to 2014, the rates will probably be higher than a bronze plan anyway.

Very likely they will be. My point was (maybe I was not clear) that someone on an HSA GF plan especially with a funded account will be able to keep and use the plan and account. Or establish and fund an account later if they have not already set up one. I have a lot of HSA clients who have funded HSA with Wells Fargo. If they are NGF and go into Bronze, Gold or whichever, they will likely lose the value of the funded account to use for medical expenses. Either pay the penalty to withdraw or ride the account out to minimum withdrawal age at passbook interest.
 
Very likely they will be. My point was (maybe I was not clear) that someone on an HSA GF plan especially with a funded account will be able to keep and use the plan and account. Or establish and fund an account later if they have not already set up one. I have a lot of HSA clients who have funded HSA with Wells Fargo. If they are NGF and go into Bronze, Gold or whichever, they will likely lose the value of the funded account to use for medical expenses. Either pay the penalty to withdraw or ride the account out to minimum withdrawal age at passbook interest.

Correct me if I'm wrong, but anyone with an HSA can use the funds for healthcare expenses even after they are no longer in an HSA-compatible plan. They just can't make any more contributions to the account.
 
anyone with an HSA can use the funds for healthcare expenses even after they are no longer in an HSA-compatible plan. They just can't make any more contributions to the account.

That is my understanding as well.
 
Correct me if I'm wrong, but anyone with an HSA can use the funds for healthcare expenses even after they are no longer in an HSA-compatible plan. They just can't make any more contributions to the account.

Currently, yes. However, no one knows about the rules of the exchanges and metal plans in this regard in 2014 and beyond.
 
Currently, yes. However, no one knows about the rules of the exchanges and metal plans in this regard in 2014 and beyond.

From reading your posts, looks like CA is in the thick of implementing all of this, with the pieces being put in place (sooner rather than later). Except one thing, what's in it for you and your fellow agents? Just curious as what happens in California....;)
 
From reading your posts, looks like CA is in the thick of implementing all of this, with the pieces being put in place (sooner rather than later). Except one thing, what's in it for you and your fellow agents? Just curious as what happens in California....;)

Yes, CA has 2 bills (SB900 and AB1602) that provide for several rules and the creation of the exchange NLT 1/1/2014.

The biggest rules are that in California no carrier may sell any plan at all that is not a "precious metal" plan. That is both inside and outside of the exchange. So, for those who are not grandfathered in California, the choices in 2014 will only be Gold, Silver, Platinum, Bronze and Catastrophic for those who qualify for the Cat plan. Also, carriers can't sell any metal plans outside of the exchange if they don't sell inside the exchange. Oh, and they cannot charge less for a metal plan outside of the exchange than the price of the same plan inside of the exchange.

We now have AB 52 which give the CDI and DMHC full authority to review and reject any rate increases on health insurance plans.

Without knowing any details, comp for individual business may or may not exist. Kinsdale of Mass Connector fame is assisting with the CA exchange and we all know how much comp is on IFP in Mass. Small group may pay a commission either per employee flat fee or % (Mass pays 2%).
 
Attacking comp as the root of the problem in health insurance premiums misses the boat. When +/-85% of premium goes to cover claims and the balance to cover overhead (including agent comp) even if you reduce agent comp to $0 the impact on premiums is nominal.
 
Agreed. We have it even worse here now as our new spiffy insurance commish has made it clear that he not only hates insurance companies, he hates insurance agents as well.
 
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