Losing Your Obamacare Plan Because of Obamacare
- Thread starter somarco
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- #12
David, they haven't been cancelled yet because this is the first year for metal plans. Bob is not saying your plan WILL be cancelled. If it doesn't fall within the narrow range (see video or graph above) the plan is no longer compliant.
That being said, I suppose you could keep your plan (if the carrier continues the plan into 2015) but it will not be compliant ................. so you pay a penalty.
If you are going to pay the high Ocare premiums you might as well have one the govt likes.
It's all nutty, but that's what you get when you let DC take over your health insurance.
That being said, I suppose you could keep your plan (if the carrier continues the plan into 2015) but it will not be compliant ................. so you pay a penalty.
If you are going to pay the high Ocare premiums you might as well have one the govt likes.
It's all nutty, but that's what you get when you let DC take over your health insurance.
hell, I don't know.... I always heard from agents smarter than me that we required 90 days?...... I have no fact to back this up... but I know this, my next post gives me 5000.... I wonder if fireworks will come flying out of my computer screen?
I'm not sure the Forbes article is correct. My understanding was that the actuarial value of a metal tier was a MINIMUM of a certain amount. For instance, Bronze must a minimum AV of 60%, Silver must be a minimum AV of 70%, etc. But since the article is written by John Goodman, quoting another healthcare economist, I will bow to the greater brain and assume I'm wrong.
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As far as I understand it, (and I very well could be wrong since I haven't taken bureaucratese in a long time), these ranges of AV are the basis for the infamous 3R's. If a plan makes more profit than the 62%, it goes into the pool. If they make less than 58%, they get money out of the pool.
It's not that they will take your plan away, but the company will modify the plan for the following year. Just like they would anyway.
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- #16
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Varies by state but most require notices
60 days in advance for plan premium change
90 days in advance for plan discontinuance
90 to 180 if company is cancelling all plans with no replacement.
Thank-you, Bob. I just read part of the first one, and found the answer. Yep, indeed, I need to bow to the greater brain trust. You (and the Forbes guys) are right. Here's a quote from the first link you provided:
Given these parameters a plan with an AV of 72% will meet the requirements of a silver plan and be acceptable under the regulations while a plan with an AV of 75% would not fall on any metal tier and would not meet the requirements of the ACA.
Go figure. They should have read this law before passing it!
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- #19
Yes, it must be within those ranges.
Yes, the AV calculator they use changes every year.
Yes, if they adjust copays/deductibles, etc to keep it within the ranges, but then it technically changes the plan, and therefore cannot keep existing plan the way it is currently built.
Yes, with the OOP tied to HSA OOP, the AV will always change each year.
Yes, we are screwed. Case in point:
FL client just called, just received letter stating her current Aetna ON exchange ACA 94% CSR Classic 5k plan is no longer being offered. Her plan will TERMINATE on 12/31, and she must pick new plan. Even though the law states they must convert to closest metal plan. Oh, BTW, no mention of me or to call their agent. Oh, and no heads up from Aetna either. I've now got 30 more clients to handle this OEP during 30 day period. In addition to all NON GF Aetna plans being termed, and Humana. I'm booked already !!
I thought last year was the year to "save your book". Instead, This year seems to be the one.
Yes, the AV calculator they use changes every year.
Yes, if they adjust copays/deductibles, etc to keep it within the ranges, but then it technically changes the plan, and therefore cannot keep existing plan the way it is currently built.
Yes, with the OOP tied to HSA OOP, the AV will always change each year.
Yes, we are screwed. Case in point:
FL client just called, just received letter stating her current Aetna ON exchange ACA 94% CSR Classic 5k plan is no longer being offered. Her plan will TERMINATE on 12/31, and she must pick new plan. Even though the law states they must convert to closest metal plan. Oh, BTW, no mention of me or to call their agent. Oh, and no heads up from Aetna either. I've now got 30 more clients to handle this OEP during 30 day period. In addition to all NON GF Aetna plans being termed, and Humana. I'm booked already !!
I thought last year was the year to "save your book". Instead, This year seems to be the one.
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