Losing Your Obamacare Plan Because of Obamacare

[somarco]

If you like your plan you can keep it.

Yeah, that lie was finally exposed and the result for many was voter's remorse.

So now you have an Obamacare plan. You may not like it, but this is what the government says you need and will have.

Because of Obamacare you lost your prior coverage which was deemed "inferior". You bought a new Bronze plan. It cost more than you were willing to pay, covered things you did not need or want, and raised your out of pocket on major medical bills beyond what you can afford.

But now you are in compliance.

Well, at least until 2015 ............

Take a look at the chart below. It reflects the fact that all commercial health insurance must fit within four metallic bands: Bronze, Silver, Gold and Platinum. Each band is defined by its "actuarial value" – which is the percent of covered benefits the plan is expected to pay. For example, a Bronze plan is expected to pay between 58% and 62% of health care costs for a representative enrollee. A Silver plan is expected to pay between 68% and 72%. And so forth.

Suppose you are in a Bronze plan with an actuarial value of 58%. Then, a year from now, because of price changes, technology changes, or some other kind of change, your plan suddenly covers 60% 64% of expected expenses. That's good for you, right? Wrong. Because your plan no longer fits into one of the metallic corridors, it's no longer a valid plan – despite the fact that it has become a better plan!

http://www.forbes.com/sites/johngoo...lth-insurance-no-matter-how-much-you-like-it/

 

[taterpeeler]

rate increases come out on Wed.... cant wait cause we will then have for the most part 2015 rates... the new ride begins

 

[Post Quartermaster]

rate increases come out on Wed.... cant wait cause we will then have for the most part 2015 rates... the new ride begins

Is that carrier/CMS or state based?

My understanding was 10/7/14 from CMS.

 

[taterpeeler]

Is that carrier/CMS or state based?

My understanding was 10/7/14 from CMS.

state based. my understanding rate increases in texas must be out 90 days in advance.... I could be wrong but I think that's correct...

when they come out its just a matter of computing to know 2015 rates

 

[dgoldenz]

...what is this guy talking about?

 

[AllenChicago]

...what is this guy talking about?

Probably https://data.healthcare.gov/ . Millions of people go there to access the rates before the states and carriers get around to releasing them to the general public.

Tater is a multi-dimensional operator.

 

[dgoldenz]

I meant the Forbes guy.

 

[sshafran]

If you like your plan you can keep it.

Yeah, that lie was finally exposed and the result for many was voter's remorse.

So now you have an Obamacare plan. You may not like it, but this is what the government says you need and will have.

Because of Obamacare you lost your prior coverage which was deemed "inferior". You bought a new Bronze plan. It cost more than you were willing to pay, covered things you did not need or want, and raised your out of pocket on major medical bills beyond what you can afford.

But now you are in compliance.

Well, at least until 2015 ............

http://www.forbes.com/sites/johngoodman/2014/09/23/why-you-are-likely-to-lose-your-health-insurance-no-matter-how-much-you-like-it/

I just randomly came across the letter today about how Obummer is graciously allowing me to keep my plan until 9/30/15.

While I had received the letter a few months ago... it kinda became "real" as it is exactly one year and one day away.

I guess I'll need to start thinking about options in about 7-8 months or so.

What is the likelihood that they give me another extension? (Individual family policy - Ohio)

I'd like to keep my plan.

 

[somarco]

David, it helps to click through to the video. Link below

https://www.youtube.com/watch?v=p9BJ6bL0a-M

 

[dgoldenz]

Watched the video but have never seen anything about this. Does anyone have an actual example of policies being canceled in this kind of scenario?