One-Fifth of New Enrollees Under Health Care Law Fail to Pay First Premium

[deadhead]

85% placement is more than what I expected. There are carriers that have lower overall placement than that.

85%?? I thought this crap was GI

 

[Guest]

I know of an agent that works sold fl blue and has not been paid on ANY of his plans, another agent that also sold blue has been paid of 5 plans out of 150.

Houcoogster, we all know you sold tons of Obamacrap, but would you please stop your mouth from spewing vomit all over the conversation? Others have an opinion and we know where you stand so stop already, its getting real old.

 

[healther]

I think we are closer to 70%. But I believe it will be closer to 85% by the end of next week. We had an enormous amount of 5/1 effectives.

 

[RayNY]

Personally, I'm seeing rates far north of 90%, 99% on some carriers (on and off combined).

That E&C report (Committee Learns Who) is interesting though with the 67% paid claim. CMS's Aaron Albright rebuked the claim and says that E&C only polled about half of the 300 companies on the federal exchange, and thus, is inaccurate (obviously, he has no clue how polling and statistics work, N=160 with a population of 300 gives a very low margin of error). Interestingly, he does not dispute the accuracy of the data.

E&C's report says they polled "all of the 160 companies on exchange as of 4/15/14", implying a census, not a poll, which is pretty hard to reject.

My question is, does anyone have a headcount on the number of participating insurers? I'd love to know which one is accurate.

 

[tonyisme]

My CPA is not taking anybody who signed up for a subsidy ACA plan. It's too time consuming in too much of a risk for him.

 

[Yagents]

Not surprising, but why wouldn't a CPA charge extra for subsidy verification?

The cost of getting subsidies is more than you think

 

[djs]

Accuracy is not the game in these numbers.
Of the 8 million who 'signed up', are those all distinctly different? Of, if someone created 3 accounts, does that count as 3? If they had to cancel one app and have it rewritten (even 3 or 4 times), does that count as 1 or multiple?

Nobody knows, nobody is telling. Nobody is auditing anything.

If a private company tried to put out numbers like this, there would be hearings on capital hill. Politicians (both sides) get by with whatever.

Dan

 

[Ann H]

Not surprising, but why wouldn't a CPA charge extra for subsidy verification?

The cost of getting subsidies is more than you think

I'm not surprised. Since employers don't have to report, there is no way of proving whether or not the client is eligible for Employer sponsored coverage, much less whether or not it was actuarial value or excepted from actuarial value because it was grandfathered or pre-aca, or whatever. Then you would have to ask the employer for the premium that should have been charged to your client, in order to determine if it fit into the 9.5% rule. And, did the client take pediatric dental, and enroll every member of the household without a lapse of more than 2 months, on and on and on... Then, an accountant would say that a client whose income is low enough to get a subsidy probably isn't the best client for a CPA firm.

 

[VolAgent]

I'm not surprised. Since employers don't have to report, there is no way of proving whether or not the client is eligible for Employer sponsored coverage, much less whether or not it was actuarial value or excepted from actuarial value because it was grandfathered or pre-aca, or whatever. Then you would have to ask the employer for the premium that should have been charged to your client, in order to determine if it fit into the 9.5% rule. And, did the client take pediatric dental, and enroll every member of the household without a lapse of more than 2 months, on and on and on... Then, an accountant would say that a client whose income is low enough to get a subsidy probably isn't the best client for a CPA firm.

It is just another symptom of trying to create winners and losers with the tax code. Not that it will ever happen, but just simplify it.

Why should investment income be favored over earned income? Why should some housing expenses be deductible but not others? Why should some employees enjoy tax advantages that others don't?

 

[HealthGuy]

Why is a CPA on the hook for someone who took a subsidy? This makes no sense to me...Its like saying a licensed agent is on the hook for subsidy eligible health plan individuals or families.