VALUE PENGUIN Info and Feedback

[FLM2]

Here is something that is going to be important in utilizing the VP site:

If I have a single parent who is applying for coverage but is not including at least one of her children in the application (even though the child is included as a dependent on the tax return) there does not seem to be a way to put the child on the subsidy calculation so that they subsidy calculation is accurate.

The Kaiser site has this capability and provide the exact subsidy but does not have the actual plan rates (I believe).

Am I missing something or is this the case with VP?

 

[AllenChicago]

AllenChicago: I tested some BCBS quotes in IL earlier and didn't find any differences in price for the ones I looked at. Could you give me an idea of what the user details were that you were comparing? Thanks for noting the transposition error.

Hello VP. Here's the client profile I was using.

Illinois - Kane county (zip 60123) - Male - Age 26 - Non-Smoker
Income = $35,000 (No Subsidy)

Product: BCBS PRECISION HMO 002 (SILVER)
ValuePenguin.com = $169.51
BCBSIL.com = $173.48

Value Penguin's premiums are lower than BCBSIL.com with each plan, not just the "Precision HMO 002".

Also, I notice that ValuePenguin is NOT calculating the SMOKER premium. I toggle the Smoker button between "YES" and "NO" , hitting the CALCULATE button after each toggle. The premiums do not change for any of the companies. On the BCBS-IL website, this client's premium increases by 20% (est) when I change him to a SMOKER.

Thanks for working hard to make your website so useful, VP. It's appreciated!
-allen

 

[TXINSURANCE]

I agree in Ohio smoker button does not work. Some states like CA are not rating smoking but most are.

 

[ValuePenguin]

The smoker button issue is one we're trying to correct. It's requiring us to quote off of the individual insurer's websites since there is no data otherwise.

As for the differences on the BCBSIL site, it looks like they have a different age scaling. For instance if you quote age 21 for that plan the rates will match. But it starts to diverge as the applicant is older. What is curious is that if you look at the data from data.healthcare.gov, our 27 year old rate matches theirs exactly as does the 50 year old. So I cannot explain why a difference exists on the BCBS site. Either they're wrong or healthcare.gov is wrong.

 

[AllenChicago]

Thank-you for working to get the Smoker calculations.


I just ran the same quote at ehealthinsurance.com and their rates match BCBSIL.com. So it would appear that Healthcare.gov is wrong. No surprise there. If you remember, the carriers were all complaining because Healthcare.gov was botching the quotes. Unfortunately, it seems that HHS decided to launch HealthCare.gov on 10/1, knowing that it was full of calculation and technical glitches. I think by using the HealthCare.gov data, you may have been drinking out of a tainted pond, VP.


So what does this mean? A few million people will enroll in a plan through the Healthcare.gov process and find out that the premium taken out of their checking account is higher than quoted? If so, this would be VERY bad news for the carriers. The public will blame the "evil" insurance companies for yet another evil deed, when it was the HHS I.T. people who got it wrong! Hmmm... perhaps that's just another weapon in the Obama arsenal to drive the major insurers out of business. The cunning of a chess player. No wonder Aetna left so many exchanges.
-allen

 

[justina]

Just tested in NV. Can't say anything about the costs, but noticed the info is wildly wrong on the Nevada Health Co-op plans. Didn't look at the other carriers.

 

[AllenChicago]

NOTICE TO AGENTS

The ValuePenguin's state quote pages now have a phone number for prospects to call if they need help enrolling in a plan. Therefore, if you utilize this website for estimates, use it as an AGENT EYES ONLY tool.
ac

 

[Yagents]

I wonder if in house agents or outsourced?

 

[taterpeeler]

Value penguin rates are incorrect and the site in my view is worthless as teats on a boar hog...

 

[Yagents]

VelaPoint - Personal Insurance Professional independent agency is who they are using