Illinois's ABE Exchange-Marketplace
- Thread starter AllenChicago
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This is terrible and disappointing news, but not unexpected from Illinois, since we're in "partnership" with HHS to build the exchange here. Also, Illinois usually does whatever the Obama administration requests in all areas...not just insurance. Good find, Stuy119.
I guess Assurant and any other company doing business here will have to add the EHB's, etc. to their policies on their respective 2014 renewal dates.
This move by the Il Dept of Insurance is not as restrictive as what Oregon has imposed, but not as generous as what Texas is allowing.
-ac
I guess Assurant and any other company doing business here will have to add the EHB's, etc. to their policies on their respective 2014 renewal dates.
This move by the Il Dept of Insurance is not as restrictive as what Oregon has imposed, but not as generous as what Texas is allowing.
-ac
Thanks, Stuy119. I read the notice. So, they won't allow an insurer to amend the "plan year" to shorten it to less than 12 months or lengthen it to more than 12 months as a contravention of the federal rule. No problem. Just change carriers on December 1st. Maybe large groups might worry about technically changing the "plan year", but for small group and IFP who really need to keep their current benefits vs higher priced plans, they can just change carriers and the problem is solved.
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WONDERFUL ADVICE ANN! We're so fortunate to have you here. I can begin writing December 1st 2013 effective date plans as soon as October 1st, with some carriers.
-Allen
One of the things I thought about in regards to Land of Lincoln's claims to be the low-priced leader on the exchange is that this affects the "financial hardship" exemption. That provision exempts people from the individual mandate penalty if the price of the lowest-cost bronze plan exceeds 8% of their family AGI. If LoL plans to go really low on premiums, that would affect this exemption.
The unintended kick in the pants for some? I guess it depends on point of view. It seems there are a lot of these out there.
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This is a pretty good ongoing blog for Illinois health reform. The latest entry describes what Navigators, Assisters, etc.. will do in this state and how to become one of them, if you're so inclined.
Story: IllinoisHealthMatters.org Blog: The ACA is Coming – How Can I Help Enroll People?
-ac
Story: IllinoisHealthMatters.org Blog: The ACA is Coming – How Can I Help Enroll People?
-ac
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I thought the states were trying to encourage Insurance Companies to register to sell on the exchanges/marketplaces, and this I come across this letter to Illinois insurers:
http://www.insurance.illinois.gov/cb/2013/CB2013-04.pdf
The State of Illinois charges each insurance company $3,000 per plan submitted, just for being considered for a listing in the ABE exchange.
We have 6 companies that submitted 165 plans between them. That's a cool $49,000 in up-front application fees funneled into Illinois coffers. After the exchange gets going, each health insurer will begin paying per-applicant and monthly fees as well.
http://www.insurance.illinois.gov/cb/2013/CB2013-04.pdf
The State of Illinois charges each insurance company $3,000 per plan submitted, just for being considered for a listing in the ABE exchange.
We have 6 companies that submitted 165 plans between them. That's a cool $49,000 in up-front application fees funneled into Illinois coffers. After the exchange gets going, each health insurer will begin paying per-applicant and monthly fees as well.
Illinois offers $28 million for exchange "health guides" | LifeHealthPro
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My Obama calculator shows that 165 X 3000 = $495,000
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My Obama calculator shows that 165 X 3000 = $495,000
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What's a few dollars difference? I mean, the law is still on budget overall, right?
