Yes you can lie big. Even if you made $300k last yr you could " Project" $30k next yr especially if your self employed " . The gov't been accepting BS excel spreadsheets when they question your income you do of your "projected " income .
ACA-New: 2025 Marketplace Integrity and Affordability Proposed Rule=Lots of changes
- Thread starter Duaine
- Start date
- 1,828
Small-ish book of ACA about 175. Bulk is Medicare. A few of the ACA's have what I call tax credit PTSD, mostly business owners who didn't monitor their ongoing income during the year and if over 400% of FPL, owed the whole tax credit back. They can and do apply for whatever tax credit they wish and some suspend subtracting it from their monthly premium. The PTSD'ers are doing that or taking maybe 25% of the tax credit amount so they don't owe a ton back at tax filing and if lucky, none.
RE: commissions, yes the old days of risk rating people like car insurance, examle BCBS, 4 premium levels, the 4th one being not accepted. 15% or more commish.
RE: commissions, yes the old days of risk rating people like car insurance, examle BCBS, 4 premium levels, the 4th one being not accepted. 15% or more commish.
InsuranceGuy29
Guru
- 914
The whole system is idiotic and needs to be reformed. Income/taxes need to be entirely removed from the process. Charging people INSANELY more, and then giving them INSANELY less insurance benefits is absolutely ridiculous. THANKS OBAMA! His plan was always to kill off the middle class. Most policies for the middle class have "coverage" that doesn't even resemble insurance coverage. All you do is pay and pay in premiums, then you get sick and you pay and pay some more. That's not insurance coverage, that's theft.
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Re-establishing income verification is going to be tough on people, in States where they didn't expand Medicaid. It will be bad if they bounce people off of the plans for falling just below the threshold.
Income alone doesn't deterime Medicaid eligibility in States like SC, so the person would have to go without insurance.
Not in favor of this income verification change, unless they provide some way for a person to retain their subsidy, with fluctuating income. Having someone go from having a full major medical to having nothing, because their annual income fell $200 is absolutely ridiculous.
Income alone doesn't deterime Medicaid eligibility in States like SC, so the person would have to go without insurance.
Not in favor of this income verification change, unless they provide some way for a person to retain their subsidy, with fluctuating income. Having someone go from having a full major medical to having nothing, because their annual income fell $200 is absolutely ridiculous.
- Thread starter
- #15
- 1,252
Congress must decide whether to extend premium tax credits that were enhanced during the covid pandemic, which expanded eligibility for the credits and made them larger for many enrollees. Keeping them in place would be expensive, with the nonpartisan Congressional Budget Office and Joint Committee on Taxation estimating it would add $335 billion to the deficit through 2034.
That debate will come amid another deficit-affecting decision: whether to extend tax cuts enacted during the first Trump administration, which would add trillions to the budget deficit through 2034.
If the enhanced subsidies are not renewed, monthly premium costs would rise by an average of over 75%, according to KFF, a health information nonprofit that includes KFF Health News. Premiums could more than double in some states, including many GOP-led ones, such as Texas, Mississippi, Utah, Wyoming, and West Virginia.
[EXTERNAL LINK] - Tax Time Triggers Fraud Alarms for Some Obamacare Enrollees - KFF Health News
That debate will come amid another deficit-affecting decision: whether to extend tax cuts enacted during the first Trump administration, which would add trillions to the budget deficit through 2034.
If the enhanced subsidies are not renewed, monthly premium costs would rise by an average of over 75%, according to KFF, a health information nonprofit that includes KFF Health News. Premiums could more than double in some states, including many GOP-led ones, such as Texas, Mississippi, Utah, Wyoming, and West Virginia.
[EXTERNAL LINK] - Tax Time Triggers Fraud Alarms for Some Obamacare Enrollees - KFF Health News
craigthinks
New Member
- 16
The System works now okay. SEC says past performance does not predict future performance on investments so how can the past salary predict the future. People change jobs, get out of school. Decide to go to school. Get married, get divorced. Have kids. Change Jobs, loose jobs. And if their guess is wrong, they can have to pay it on their taxes as income. So, the system works now.
The system would work even better if ACA open enrollment was in March-
April so self-employed indivdiduals would have a much better idea of their incomes but nope..
WiscBroker
Super Genius
- 135
- OEP should annual as it is now and/or be based on the applicants birthday to allow for spread across the year. I know this might mess with plan year / calendar year but using birthdays would be one way to spread the load. I hope Sherpa is coming up with some way to do a mass active renewal to sort of replicate the passive renewal but without it being a passive renewal. At least get them on the books for the new year in an automated manner and then if income adjustments or whatever need to be change we could theoretically still submit those after oep.
- The new income rules remind me of pre-2019 when we had the lower tax credit levels (which appears to also be returning unfortunately). During that time spreadsheets were still accepted for the most part of self-employed estimates so we'll see where this goes. We did however have other options such as 364 day short-term medical plans. We need those back ASAP.
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