Try Explaining this to Your Clients at Renewal Time.

[riskybiz]

Rugerred,

Plan submissions effective the first of the month must be submitted by the 15th of the month prior. For Jan 1, this is December 15th.

I hope this clarifies where the date comes from. If you haven't applied for replacement Jan 1 coverage by the deadline, the auto-renew kicks in to ensure there isn't a lapse of coverage.

I wonder if the transition from one carrier to another will be handled by the Exchanges? On top of all the transitions on existing block, we are going to have to make sure that the old plans are cancelled. I can totally see drafts from 2 carriers starting in early January and clients screaming about overdraft fees. It is going to be a wild ride.

 

[somarco]

No offense taken Tater. Hat's off to agents like you that are willing to get involved in Obamacare.

Sneaking up on 40 years in the health insurance industry. I look for things that still have the potential to generate residual income without a lot of effort.

Smoraco could run for office as a strong anti-Obamacare candidate

That's too limited.

Personal liberty and personal responsibility is my platform. Scale back entitlements and require 6 month certification.

transition from one carrier to another will be handled by the Exchanges? On top of all the transitions on existing block, we are going to have to make sure that the old plans are cancelled

File that away under wishful thinking.

Also consider the 90 day grace for subsidized plans. Policyholder plays premium hooky for Oct - Dec then picks up a new plan with a new carrier for January.

Do you think that might created a problem for Uncle when it comes to paying the carrier subsidies?

 

[Yagents]

I plan on having all my clients stop the bank draft at current carrier and send a bill when transitioning to new carrier. Avoids double draft problems.

 

[Yagents]

Oh..........this is gonna be fun:

For tax preparers, PPACA may bring a paperwork feast | LifeHealthPro

 

[somarco]

From the Yagents link .........

H&R Block has been referring customers who want coverage to GoHealth, and it will continue that relationship in 2015, the company said.

The company tried helping consumers sign up for coverage through brick-and-mortar offices, but that approach brought in too many customers who needed help with signing up for Medicaid and were not eligible to buy coverage through the PPACA exchange system, Cobb said.

So Medicaid clients don't generate revenues?

Who would have thunk it?

 

[FLM2]

Auto renew has to be in place or the system will fall apart.

Medicare works the same way-if you don't change plans you keep the same one and if your plan is termed and you take no action the insurance company assigns you to the plan with what they consider the closest in benefits.

Since the OEP runs through February this year there will be time for people who are unhappy with their renewal to make a change-subsequent years, though, will not have that option available so could be a nightmare.