Premium Going Up with Obama Care

[shooter]

Just a question about Obama care.
I don't do individual health so I'm not
up to date on how things work.

My friend has UnitedHealth Care / Obama care and pays $68
per month.
Just received a notice that his premium is going up
to $281 starting in July.

Why would this happen?
He hasn't been able to get through to the market place
to ask questions.
I thought maybe some one on this forum may
have encountered this situation.

Thanks,
Shooter

 

[kstein]

Probably lost his subsidy BC he didn't verify income or respond to marketplace requests.

 

[shooter]

You nailed it.
He found a letter that was misplaced
asking him for income verification.

He needs to send a copy of last years w2.
Thanks for the tip.
Shooter

 

[kstein]

I'd ha e him upload electronically so it doesn't get lost.

 

[Yagents]

Tax credit has already been lost, uploading docs won't help at this point.
You must do a life change for change of income to get back tax credit and plan, and then see if income docs are required again. Then upload or send in via mail.

On side note, uploading does not guarantee they will receive it. A few of mine have been completely ignored.

 

[ggbh]

Ok. All us agents agree, that he lost his subsidy. Problem is, that he needs to get it fixed, if he complied with everything.

Problem is, that he won't and will owe that premium for at least 1 month & if not fixed right, perhaps more. Another problem he has, is that no agent is saying they will fix it for him. UHC, has gone $0.00 on commissions.

They offered advice for free.

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I'd ha e him upload electronically so it doesn't get lost.

Uploading is the best an agent can do.

 

[AllenChicago]

Probably lost his subsidy BC he didn't verify income or respond to marketplace requests.

If he kept the plan and paid $281 a month, would he be able to claim the APTC when doing his 2016 taxes next year?

I don't know about the market where this insured resides, but $281 @ month would be a great non-subsidized premium in Illinois.

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My friend has UnitedHealth Care / Obama care and pays $68
per month.

Just received a notice that his premium is going up
to $281 starting in July.

Shooter

Shooter, if your friend had an artificially low Out-of-Pocket due to Cost Sharing Reduction, that benefit was also removed, along with the subsidy. I think the only way to get CSR back is via a SEP enrollment, or waiting until next O.E..

 

[TN_agent]

They can get the subsidy from that month back on their taxes, AC. I had a person do that with no issues. As long as they go through the exchange, they can get any and all of the tax credit that they are entitled to (based on income) to back on their taxes.

 

[AllenChicago]

They can get the subsidy from that month back on their taxes, AC. I had a person do that with no issues. As long as they go through the exchange, they can get any and all of the tax credit that they are entitled to (based on income) to back on their taxes.

that is good. And it would be a safer route also for someone who only has to pay $281 a month for their premium

 

[shooter]

My friend had to reapply and start the process over.
He is going to have to pay the 281 for three months.
He was supposed to respond in April with income
verification.

So it will be August before he goes back to the $64 per month.
Lesson for the day.
Answer them when they ask info and don't slide
it to the bottom of the mail stack.

Shooter