What happens when a person turns 65 and is on ACA?

[ValeRosso]

I know if someone is eligible for premium free part A medicare, they no longer qualify for the subsidy for ACA. So when someone turns 65 and is on ACA...Is this subsidy cancellation automatic at 65, is this a end of the year tax thing, or how does this work?

Thanks.

 

[Yagents]

I know if someone is eligible for premium free part A medicare, they no longer qualify for the subsidy for ACA. So when someone turns 65 and is on ACA...Is this subsidy cancellation automatic at 65, is this a end of the year tax thing, or how does this work?

Thanks.

They need to enroll in A and B. Ex may1st

Cancel aca plan as of day before. Ex: April 30th

Subsidies end along with plan.

Subsidies allowed is based on full tax year income. Ex Jan to dec

 

[DonP]

They need to enroll in A and B. Ex may1st

Cancel aca plan as of day before. Ex: April 30th

Subsidies end along with plan.

Subsidies allowed is based on full tax year income. Ex Jan to dec

I’ve read and heard of some people that stay on aca 2-3 months extra that they didn’t have to pay back the subsidies. Maybe aca and Medicare are not in sync at times

 

[ValeRosso]

They need to enroll in A and B. Ex may1st

Cancel aca plan as of day before. Ex: April 30th

Subsidies end along with plan.

Subsidies allowed is based on full tax year income. Ex Jan to dec

Thank you. I thought this might be the case but wanted to be sure.

I’ve read and heard of some people that stay on aca 2-3 months extra that they didn’t have to pay back the subsidies. Maybe aca and Medicare are not in sync at times

I was hoping there would be a couple month leeway. Im almost positive they’ll be granted access to MSP, but they wont take the application until exactly 65yo. If they could stay on ACA, this would give some time to become dual eligible then go right into dual plan instead of hopping back and forth

 

[DonP]

Thank you. I thought this might be the case but wanted to be sure.



I was hoping there would be a couple month leeway. Im almost positive they’ll be granted access to MSP, but they wont take the application until exactly 65yo. If they could stay on ACA, this would give some time to become dual eligible then go right into dual plan instead of hopping back and forth

I do this all the time . let them start Medicare when they’re eligible . Apply the 1st of the month for msp . They’ll know in 30 days if they get Medicaid . They’ll get all their Part B premium back if eliegible . There’s no guarantee they get Medicaid . Some people lie and have cash in their bank accounts

 

[Yagents]

Changing from the Marketplace to Medicare | HealthCare.gov

Medicare isn’t part of the Health Insurance Marketplace®, so if you have Medicare coverage now you don’t need to do anything. If you have a Marketplace plan, you can keep it until your Medicare coverage starts. Then you can cancel it without penalty. Learn more at HealthCare.gov.

www.healthcare.gov

 

[ValeRosso]

I do this all the time . let them start Medicare when they’re eligible . Apply the 1st of the month for msp . They’ll know in 30 days if they get Medicaid . They’ll get all their Part B premium back if eliegible . There’s no guarantee they get Medicaid . Some people lie and have cash in their bank accounts

What happens to your commission then? You’ll get the first commission and possibly wont even receive the true-up by the time you switch to dual plan within that month.

 

[ValeRosso]

Changing from the Marketplace to Medicare | HealthCare.gov

Medicare isn’t part of the Health Insurance Marketplace®, so if you have Medicare coverage now you don’t need to do anything. If you have a Marketplace plan, you can keep it until your Medicare coverage starts. Then you can cancel it without penalty. Learn more at HealthCare.gov.

www.healthcare.gov

Thanks. The part im wondering about is the “you’ll no longer be eligible for premium tax credits”…if thats automatic or if it takes a couple months to kick in.

 

[DonP]

What happens to your commission then? You’ll get the first commission and possibly wont even receive the true-up by the time you switch to dual plan within that month.

Yes you will . Humana and United will take away the trueup and reapply it . I like to do this with Humana the most . Humana is the only company that doesn’t make the full chargeback for rapid disenrollment in the first 3 months . Example . Your write someone new to Medicare Jan 1st . Thats around $600 or $50 per month ( $25 on the regular mapd comp and $25 on the true up comp or $50 total per month) . If your client bolts this month before April 1st Your get a full $600 chargeback with all carriers accept Humana as its a rapid disenrollment. Humana only charges you back the 9 months and they let you the 3 months . Now if you move someone to a dsnp with Humana that was new to Medicare Jan 1st you lose nothing . Humana charges back the 9 months and credits back the 9 months on the new plan . With United you lose the full 12 months on both sides (regular mapd and true up and get credited back the full 9 months on the new dsnp). United treats it like a rapid disenrollment .

 

[Yagents]

Thanks. The part im wondering about is the “you’ll no longer be eligible for premium tax credits”…if thats automatic or if it takes a couple months to kick in.

Tax credits and plan continue until you cancel it. Nothing automatically is done by Marketplace