- 3,863
Well the cost is actually the same, the question is who pays for it. Welcome to the shell game.
Rates for Obamacare
- Thread starter SamIam
- Start date
Well the cost is actually the same, the question is who pays for it. Welcome to the shell game.
None of the above-Humana Copay 70 with a $5K deductible., the policy effective date was 12/1/2010 and the premium actually went down a few bucks on the first renewal date.
She is 59 years old, that's what the calculator spits out. It's not my calculator, it's Kaiser's.
Don't assume you know everything there is to know-I didn't answer yesterday because I don't read this forum all day, every day.
Well, let me tell you what I do know. I know you don't have a good grasp of how obamacare will affect your clients. I hope you told her to enjoy these lower premiums for 2013, because she does NOT own a grandfathered plan (non GF), and this plan price will blow up in 2014.
This Humana plan that has a $10,000 deductible/coinsurance maximum + a $6000 out of pocket Rx maximum, and will be required to change to an out of pocket maximum of $5950, causing the premium to probably double at least.
While Obamacare will be expensive for an individual, I would be skeptical of a calculator spitting out a number of $1000/mo for someone making $50,000 a year. That's over 20% of their income!! If you want an idea of what her rates will be, just look at group plan rates of $400-$600/mo which basically are already Obamacare compliant. So, while I don't assume I know everything about this law, you shouldn't assume a calculator is accurate. Best to brush up on GF vs. NON GF plans and the effects on your book of biz.
Maybe you should spend more time on this forum (?)
Reading comprehension is not one of your strengths is it?
My client complained about a $20 increase, I told him to check the estimated rates for 2014 if he really wanted to be upset, how does that mean I don't understand Obamacare?
You obviously don't spend any time reading what anyone else says on this forum, if you had (or took the time to look it up) you would see I've already posted multiple times(even started a thread about letting all plans, grandfathered or not, continue into 2014) that this is a mess and that U65 renewals are going away in 2014.
So stop lecturing me about not knowing my business, if you think I've never explained to a client that the Humana Copay 70 plan has those maximum out of pocket limits then you are even dumber than I think.
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Not interested in a pissing match. Just as long as you told your client that his rates WILL be going higher in 14', and that it won't be as high as $1000/mo as you allowed her to believe.
Renewals are not going away in 14', your grandfathered middle/higher income book will stay intact
Unfortunately, I do read all posts in this section. I should have been selling.
- 8,448
I wonder if current non-granfathered policies will need to adapt to the ObamaCare structure on January 1, 2014, or whatever the policy anniversary date is in 2014?
Did the Preventive Benefits Mandate kick in for all non-grandfathered existing policies on January 1, 2011, or was it on the policy anniversary date in 2011? I don't recall.
One thing for sure is that the client who was upset over her $23 increase will be absolutlely LIVID (hopefully at the President and not the Agent!) at some point in 2014.
If only one spouse has an individual policy, will the Premium Subsidy be calculated on that Spouse's income, or the Family income? Perahps this is something that Queen Sebelius hasn't ruled on yet. -ac
Did the Preventive Benefits Mandate kick in for all non-grandfathered existing policies on January 1, 2011, or was it on the policy anniversary date in 2011? I don't recall.
One thing for sure is that the client who was upset over her $23 increase will be absolutlely LIVID (hopefully at the President and not the Agent!) at some point in 2014.
If only one spouse has an individual policy, will the Premium Subsidy be calculated on that Spouse's income, or the Family income? Perahps this is something that Queen Sebelius hasn't ruled on yet. -ac
If not required to upgrade, why even have a differentiation of GF and non GF plans. Don't know about prev care, but all non GF should have it by now. The subsidy question is a good one, and I think we're still waiting on guidance from the queen.
- 8,448
One of the biggest ObamaCare goals for 2014/2015 is to have a huge influx of Americans (and illegal aliens?) enrolled on an Exchange policy. HHS will thereby craft rules that incentivize people to give up their current non-grandfathered policy and go to the exchange for coverage. We already know that the IRS Penalty-Tax is one incentive that will apply to these policyowners.
In addition, Sebelius will probably rule that if a policy is Fee-For-Service and not Exchange-Compliant, it can't be sold. That would squash what several of the mid sized health insurers are planning. They are planning to sign-up many millions of people who would otherwise end up buying a super expensive exchange policy.
-ac
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Howdy Neighbor Sam!
Two weeks ago, three (1 large /2 midsize) health insurers told our agency owner that their Exchange policies sold here in Illinois will be 300% higher than today's policies. Sadly, a 5 year old child's premium will be the same as a 40 year-old adult is today. Commission advances will stop being paid at the end of December. Companies are working on several policy and commission related communications for release after Thanksgiving. (For a Merry X-mas?)
-Allen
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