ACA referral Broker?

[keese]

Sued for what on an aca plan??

Can't really go into a lot of detail but one was due to having to pay back all of the APTC due to misrepresentation of income and the other one had to due with kids not being on the right insurance plans with divorced parents and how dependents were declared.

I didn't hear how either case turned out (I'm sure nothing came from them), but the fact remains, you definitely open yourself up to headaches with ACA.

 

[Yagents]

I had an E&O investigator once call me about APTC and how it works, and if an agent was negligent in discussing income. Some people are looking at $20,000 in clawbacks because Aunt Ethel died and left a small inheritance.

 

[keese]

I mean you can go through the disclaimers and explain what adjusted gross income is and what it entails, but ultimately I don't have access to the client's financial information without their disclosure. I also had cases where the client would get a windfall halfway through the year and fail to notify me/the exchange and have to pay back thousands at tax time, and who do you think gets blamed? And if I'm honest here too I really can't blame them, because who gets a windfall or raise or large bonus and thinks, "man I really need to call my insurance agent so they can raise my health insurance premium!!"

 

[kgmom219]

Yeah sorry I was being a little bit of an ass. My response to most people is basically your response. I usually say something along the line of you have to go to Healthcare.gov to do an application because most health insurance companies don't use agents anymore and if you need help with the application call me and I can help you.

HOWEVER, I do know of agents who feel obligated to go out of their way to help future clients/spouses/referrals with ACA and they waste hundreds of hours for no or little commission, and I do know of an agent who was sued on 2 occasions for ACA plans.

Its not like any of us are under a bit pressure. No worries.

I actually still do both, so for me, its a no brainer. But I'm in TX and I still get paid on ACA. Makes a tiny difference

 

[J.R.]

I will give you a $2 bill and a few coupons for Burger King.

I believe that is rebating . . .

Thanks for the laugh.