HSA Doomed?

[somarco]

our new spiffy insurance commish has made it clear that he not only hates insurance companies, he hates insurance agents as well.

I thought Rick lost that election.

 

[YouGotMyMoney]

Rick understands true power is better left concealed and runs the shows behind the scenes. The commie is his puppet.

 

[ABC]

In CA, starting in 2014 or sooner, only 'precious metals' plans can be sold in or out of the exchange. These plans have no HSA provisions at all so it won't be available in CA once the exchange opens for business. But, those on grandfathered HSA plans WILL be able to continue with the HSA plan regardless of what ObamaCare does.

Move someone off an HSA they bought pre-PPACA and you might have screwed them out of ever having one again.

I have read some snap shots of CA bill. It sounds to me that a carriers can sell outside the exchange as long as the plans meet minimum federal requirements. They are required to offer one of the metal plans.

Dave how did you come to the conclusion that only metal plans will be offered in both inside and outside the exchange in CA?

As for the HSA begin doomed I don't think so. Could they end up losing all tax advantages?....yes
Outside the exchanges you will still have these plans as an option. With community ratings these plans will gain even more traction with people that actually pay taxes.

 

[Mr. Bill]

Rick understands true power is better left concealed and runs the shows behind the scenes. The commie is his puppet.

What is wrong with you? Everyone knows that's a secret!

 

[Dave020]

I have read some snap shots of CA bill. It sounds to me that a carriers can sell outside the exchange as long as the plans meet minimum federal requirements. They are required to offer one of the metal plans.

Dave how did you come to the conclusion that only metal plans will be offered in both inside and outside the exchange in CA?

As for the HSA begin doomed I don't think so. Could they end up losing all tax advantages?....yes
Outside the exchanges you will still have these plans as an option. With community ratings these plans will gain even more traction with people that actually pay taxes.

Thought I posted this once before but here it is again:

In The Outside Market [california]

Effective January 1, 2014, carriers in the outside market may only sell products that conform to the five specified coverage levels (four "precious metals" plus catastrophic). HSC 1366.6, Ins Code 10112.3(d), per AB 1602 15.16

Source is California HealthCare Foundation paper "Health Benefit Exchange: California versus Federal Provisions".

The federal requirement is as follows:

In the Outside Market [federal]

PHSA 2702(a) [added by 1201(4)] applies the "essential health benefits" requirements and cost-sharing limitations of 1202 to the individual and small group market generally.

Nothing in this title shall be constued to preempt any State law that does not prevent the applications of teh provisions of this title. [1321(d)]

 

[ABC]

Thought I posted this once before but here it is again:



Source is California HealthCare Foundation paper "Health Benefit Exchange: California versus Federal Provisions".

The federal requirement is as follows:

Well, I guess the residents of the peoples republic of California are screwed.

 

[jbage007]

Always fun to see the paranoia you guys are capable of exhibiting.

HSA plans aren't going anywhere. Currently, over 11 million Americans are on HSA plans.

Are you kiddin' me?

 

[Dave020]

In 2014 health insurance companies will only be able to sell four plans labeled: platinum, gold, silver, and bronze.iv Additionally, people under age 30 will be able to purchase a “catastrophic” plan. So, in 2014 there will be very few options to lower your monthly premium by downgrading benefits – as only five plans will exist.


The only health insurance plans available in 2014 will have very rich benefits (i.e., low deductibles, low co-pays, brand medications, etc.). The lowest level “bronze” plan; will be HSA (Health Savings Account) compatible with the maximum deductible of $2,000 individual/$4,000 family. Rich benefits require high premiums

To Grandfather or Not to Grandfather... - BenefitsCafe.com

 

[ABC]

To Grandfather or Not to Grandfather... - BenefitsCafe.com

I notice that publication is sourcing information from 2010.

I would look to use a source with more update info.

 

[Dave020]

I notice that publication is sourcing information from 2010.

I would look to use a source with more update info.

Here is another one from a year ago that HSA plans will no longer exist under PPACA:

HSA Question About PPACA | TIB Tips