I don't know that as a fact, but a simple interpretation says so. Hospital only plans are not qualified plans, so they would have to terminate, wouldn't they?
Say Goodbye To Existing Non-Grandfathered Policies?
- Thread starter AllenChicago
- Start date
I don't know that as a fact, but a simple interpretation says so. Hospital only plans are not qualified plans, so they would have to terminate, wouldn't they?
Carriers would prefer to keep post 2010 policies on the books at least until the plan anniversary. The only reason to dump the plans 12/31/13 is because of an HHS mandate.
HHS shares a hesitation about HIX policyholders with carriers, but for a different reason.
Carriers would prefer not to write HIX policies because they will mostly be folks with little motivation to live healthy lifestyles, will generally be sicker and older. (Most of the under 30 crowd will pay the penalty and avoid buying a plan).
HHS is concerned about providing subsidies to HIX policyholders. They are finally recognizing there may not be enough dollars to run HIX, provide subsidies and handle considerably more potential clients than originally estimated.
Essentially, this is a client profile no one really wants.
HHS shares a hesitation about HIX policyholders with carriers, but for a different reason.
Carriers would prefer not to write HIX policies because they will mostly be folks with little motivation to live healthy lifestyles, will generally be sicker and older. (Most of the under 30 crowd will pay the penalty and avoid buying a plan).
HHS is concerned about providing subsidies to HIX policyholders. They are finally recognizing there may not be enough dollars to run HIX, provide subsidies and handle considerably more potential clients than originally estimated.
Essentially, this is a client profile no one really wants.
there has already been back channel notice that "the' health insurance company is terming all plans written post march 2010 regardless of renewal date and forcing them to do something else..... they also indicated the dontexpect HSA plans to be in their portfolio post 2014
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I have a question then, if all non-grandfathered individual plans were to term, is everyone expected to go to the exchange? In MO & KS, the exchanges will be set up by the feds and to date, as I understand it, no real progress has been made. I'm not sure they even know which companies will be participating in the exchanges. How would these exchanges, that possibly won't even be ready take in this flood of existing business on top of the newer, expanded, income subsidized business? Am I missing something?
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Wow, that's terrible.
Unless they are trying to get the market to implode. I have no idea what to think.
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This entire discourse is entertaining to me. Almost as entertaining as speaking with a potential client last night as they kept insisting that Obamacare is going to be a great thing and they were tired of the high insurance rates and insurance companies...I yawned and nicely disagreed. What an absolute farce this entire law is. The absolute friggin chaos in the market. And this is going to turn out well? How long will the mentally challenged voters keep clinging to this sinking ship called Obamacare? What a complete joke.
OPINION – March 5, 2013 -- Outside of Medicaid, there are two groups of people in Oregon, those with insurance, and those without. The group with insurance, for the most part, has no clue that they will lose their existing coverage next year and will have to purchase one of the new plans. The only exception is those with grandfathered plans, of which there are very few in Oregon.
The Hidden Truths behind Health Reform | The Lund Report
I thought this was a great chart showing the incremental price increases for each mandate:
ACA - Exchanges and Rate Bands Effect on Premium Rates
The Hidden Truths behind Health Reform | The Lund Report
I thought this was a great chart showing the incremental price increases for each mandate:
ACA - Exchanges and Rate Bands Effect on Premium Rates
about 50% increase... I can only hope that's all it is......
I read this last night here I think: where is the incentive for insurance companies to price low? If they price high and over shoot the needed premium they just have to give it back in the MLR... however if they price low, miss the needed premium target and take a bath on the loss there is no way to recoop the loss......
price high to protect the shareholders...... thanks easter-bunny
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Many CA residents are assuming that the carrier they have now will just roll them onto an exchange plan automatically. They don't understand that the carrier can't do that.
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