Updating Subsidy Info
- Thread starter SamIam
- Start date
I've had several locals that have received substantial rate increases over last year and want to reduce their cost.
Substantial is subjective to where they are in 2014. $77/mo raising to $288/mo for example. Still not bad for health insurance for two.
When we go through the application, they got less subsidy with the same income as last year, enrolling back in the same plan would result in even a higher premium than their renewal notice. They all say, "Leave it where it is".
At that point I click on their name and remove their application and leave things as they are per their orders.
Some would rather live in the sweetness of lower cost today and face the tax man in 2016.
Substantial is subjective to where they are in 2014. $77/mo raising to $288/mo for example. Still not bad for health insurance for two.
When we go through the application, they got less subsidy with the same income as last year, enrolling back in the same plan would result in even a higher premium than their renewal notice. They all say, "Leave it where it is".
At that point I click on their name and remove their application and leave things as they are per their orders.
Some would rather live in the sweetness of lower cost today and face the tax man in 2016.
I've had a few clients I've re-registered in the same plan with adjusted income/subsidies (state run exchange). It appears it rolls over last year's subsidy amount onto this year's premium, and does not recalculate.
Because of the shift in FPL and the benchmark plan here, just by going back through the app and leaving all the info untouched my clients get a bigger subsidy.
As for whether this is treated as a term/rewrite (new ID numbers), or a renewal (maintain account), I haven't seen yet.
Because of the shift in FPL and the benchmark plan here, just by going back through the app and leaving all the info untouched my clients get a bigger subsidy.
As for whether this is treated as a term/rewrite (new ID numbers), or a renewal (maintain account), I haven't seen yet.
- 1,800
It's a new app ID if the subsidy is redone, with a new eligibility notice (letter). Note whether the new eligibility notice requires some kind of verification(s) to be mailed in or uploaded within 90 days.
