I am too. If STM is good enough for my family this year, it's good enough for a number of clients. The lowest cost bronze for my family in my state is $1530, for a 47 yr old family of 4. STM = $400. I can make up to $225k and not pay the penalty. No Pre-ex. No Brainer.
I Feel for my Off-exchange Clients who Will Be Hit on Their Renewal
- Thread starter saintstigers
- Start date
I am too. If STM is good enough for my family this year, it's good enough for a number of clients. The lowest cost bronze for my family in my state is $1530, for a 47 yr old family of 4. STM = $400. I can make up to $225k and not pay the penalty. No Pre-ex. No Brainer.
What she said. Do what's best for your client. If they get a subsidy, and will take the HMO program, the agent should point to the exchange programs. If no subsidy, the agent should point to off-exchange products. If they won't pay those prices and will go uninsured instead, STM is better than uninsured. Group is better than them all.
But eliminating a whole segment is overkill. I do agree that all advisers should be discussing all options, or they shouldn't be advisers. But that goes for the FFM, too. If they won't tell people about off-exchange plans, or Group, then they are as negligible as the agent who won't tell people about the exchange.
- 10,830
Unfortunately, increases for small group keep creeping higher and higher.
Ive been in between trying to create a small group and staying on STM. No preX right now but obviously that can always change. Guess Im hoping that Trumpcare or Hilcare will save me before a preX hits
This doesn't make much sense. I thought off -exchange was paying the same? I guess the hassle of dealing with ACA is not worth it.
- 10,830
Off exchange has the same rates, but they are not eligible for a subsidy. The subsidy given by the exchange is what causes the "out of pocket" premium difference.
In KG's example, the client could have saved hundreds per month by going on exchange since she qualifies for a subsidy. Same premium, she just doesn't pay all of it when using the exchange.
- 7,119
I think this is a situation which will be affecting my wife. I don't understand much of the terminology I am seeing. What's a good thing to read to learn something about the meaning of things like On Exchange, Off Exchange, subsidy, etc.
Thanks.
LD
Thanks.
LD
- 10,830
LOL. Im gonna need a spliff that big when I have to start paying Ocare premiums!
