Is it more surprising that I'm right, or that the gov't had yet decided auto renewal. For all the reasons they noted, they want everyone to stay on the gravy train, or else the law fails.
The question not answered, what about the subsidy amount changing?
Probably, if nothing done, income stays the same, subsidy adjusts to the 2nd silver, and plan price changes. Question: Who wants to bet that neither the gov't or carrier will send notices out notifying of the rate increase. The carriers don't know the income amount, and the gov't is let's say a "little behind" when it comes to thinking ahead.
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I wrong. it describes things in this PDF document, starting page 7. I'm just getting into it. This is a doozy. Amazing how we talk about this stuff today, and guidance comes out on the same topic...........almost like they are reading this forum
So if you do nothing, your tax credit adjustment will be based on your 13' tax return and gov't forecasting, unless you physically make a income projection change.
http://www.modernhealthcare.com/assets/pdf/CH95314626.PDF
Under the process currently defined in §155.335, the Exchange will provide a notice to all individuals who have been determined eligible for enrollment in a QHP through the Exchange (qualified individuals) in advance of the annual open enrollment period, consistent with §155.335(c). For 2015, current regulations in §155.335(d)(1) specify that this notice and the annual open enrollment period notice described in §155.410(d) be provided as a single, coordinated notice. For an individual who requested an eligibility determination for insurance affordability programs and who authorized the Exchange to obtain the most recent tax return information available from the Secretary of the Treasury for the purposes of annual redetermination, this notice will include a projected eligibility determination for insurance affordability programs for the following year that is computed based on the updated income and
CMS-9941-P 8
family size information, all other eligibility information currently on file with the Exchange, and plan premiums for the following year. Specifically, if advance payments of the premium tax credit (APTC) are being paid on such an enrollee's behalf and the tax filer authorized the Exchange to obtain updated tax data for the purposes of annual redetermination, the Exchange will recalculate advance payments of the premium tax credit and cost-sharing reductions (CSR) for the upcoming year in accordance with updated income and family size information and premium data for the applicable benchmark plan, as defined in 26 CFR 1.36B-3(f), calculated using premiums for the upcoming year. Consistent with §155.335(e), the Exchange will require qualified individuals to report changes. The process currently established in regulation allows an individual who is enrolled in a QHP through the Exchange and whose QHP remains available to renew coverage for the following year without reapplying or having to take other actions. This is a key element of the redetermination process, since it enables a streamlined renewal process for enrollees and also reduces administrative costs for States and the Federal government.
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and here is the second part of the answer:
In this situation, we propose that the QHP in which the enrollee will be renewed will be selected according to the following order of priority: first, in the same plan as the enrollee's current QHP, unless the current QHP is not available; second, if the enrollee's current QHP is not available, the enrollee's coverage will be renewed in a plan at the same metal level as the enrollee's current QHP; third, if the enrollee's current QHP is not available and the enrollee's product no longer includes a plan at the same metal level as the enrollee's current QHP, the enrollee's coverage will be renewed in a plan that is one metal level higher or lower than the enrollee's current QHP; and fourth, if the enrollee's current QHP is not available and the enrollee's product no longer includes a plan that is at the same metal level as, or one metal level higher or lower than the enrollee's current QHP
The question not answered, what about the subsidy amount changing?
Probably, if nothing done, income stays the same, subsidy adjusts to the 2nd silver, and plan price changes. Question: Who wants to bet that neither the gov't or carrier will send notices out notifying of the rate increase. The carriers don't know the income amount, and the gov't is let's say a "little behind" when it comes to thinking ahead.
----------
I wrong. it describes things in this PDF document, starting page 7. I'm just getting into it. This is a doozy. Amazing how we talk about this stuff today, and guidance comes out on the same topic...........almost like they are reading this forum
So if you do nothing, your tax credit adjustment will be based on your 13' tax return and gov't forecasting, unless you physically make a income projection change.
http://www.modernhealthcare.com/assets/pdf/CH95314626.PDF
Under the process currently defined in §155.335, the Exchange will provide a notice to all individuals who have been determined eligible for enrollment in a QHP through the Exchange (qualified individuals) in advance of the annual open enrollment period, consistent with §155.335(c). For 2015, current regulations in §155.335(d)(1) specify that this notice and the annual open enrollment period notice described in §155.410(d) be provided as a single, coordinated notice. For an individual who requested an eligibility determination for insurance affordability programs and who authorized the Exchange to obtain the most recent tax return information available from the Secretary of the Treasury for the purposes of annual redetermination, this notice will include a projected eligibility determination for insurance affordability programs for the following year that is computed based on the updated income and
CMS-9941-P 8
family size information, all other eligibility information currently on file with the Exchange, and plan premiums for the following year. Specifically, if advance payments of the premium tax credit (APTC) are being paid on such an enrollee's behalf and the tax filer authorized the Exchange to obtain updated tax data for the purposes of annual redetermination, the Exchange will recalculate advance payments of the premium tax credit and cost-sharing reductions (CSR) for the upcoming year in accordance with updated income and family size information and premium data for the applicable benchmark plan, as defined in 26 CFR 1.36B-3(f), calculated using premiums for the upcoming year. Consistent with §155.335(e), the Exchange will require qualified individuals to report changes. The process currently established in regulation allows an individual who is enrolled in a QHP through the Exchange and whose QHP remains available to renew coverage for the following year without reapplying or having to take other actions. This is a key element of the redetermination process, since it enables a streamlined renewal process for enrollees and also reduces administrative costs for States and the Federal government.
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and here is the second part of the answer:
In this situation, we propose that the QHP in which the enrollee will be renewed will be selected according to the following order of priority: first, in the same plan as the enrollee's current QHP, unless the current QHP is not available; second, if the enrollee's current QHP is not available, the enrollee's coverage will be renewed in a plan at the same metal level as the enrollee's current QHP; third, if the enrollee's current QHP is not available and the enrollee's product no longer includes a plan at the same metal level as the enrollee's current QHP, the enrollee's coverage will be renewed in a plan that is one metal level higher or lower than the enrollee's current QHP; and fourth, if the enrollee's current QHP is not available and the enrollee's product no longer includes a plan that is at the same metal level as, or one metal level higher or lower than the enrollee's current QHP
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