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Ann, I was on that call as well. They gave examples of calculating subsidies and tax credits for "second lowest Silver plans." What happens if they choose a different plan?
Policy Renewals
- Thread starter taterpeeler
- Start date
Yes, the dollar amount can be applied to the Bronze plan, for instance, to make the net premium lower. Or, you can buy-up to the Gold or Platinum plan, and use the subsidy amount you were given.
Did you notice that the guy only used examples of subsidy calculations for single people? His method for calculating FPL would have been difficult for families.
They said 10,000 agents were on that call. I was surprised by that number. 58% of them said they had been in this business more than 10 years, and I was surprised by that number, too.
A few other things I noted, was that their example of a 27 year old showed an estimated annual premium of $3516 for a Silver plan, which the man said would probably be like a $3500 deductible plan. The same plan for a 62 y.o. had an estimated cost of $7,632 annually.
Did you notice that the guy only used examples of subsidy calculations for single people? His method for calculating FPL would have been difficult for families.
They said 10,000 agents were on that call. I was surprised by that number. 58% of them said they had been in this business more than 10 years, and I was surprised by that number, too.
A few other things I noted, was that their example of a 27 year old showed an estimated annual premium of $3516 for a Silver plan, which the man said would probably be like a $3500 deductible plan. The same plan for a 62 y.o. had an estimated cost of $7,632 annually.
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One thing I like about the California Exchange website is that you can ask questions and the answers are posted online in their Q&A Advice section. Here's one that I asked a few days ago...
"Can I Really Keep My Plan?
By Phil Daigle on April 19, 2013 1:53 PM | No Comments
Question: President Obama says that if I like my plan, I can keep it. My family is well over 400% of the Federal Poverty Level. Therefore, we will not qualify for a subsidy. My family has a $10,000 deductible HSA individual health plan that was purchased in 2012. Will I be able to keep my policy as is, for as many years into the future as I want to, like President Obama promised?
Answer: You know what they say about campaign promises, “I said what?”.
As it worked out you can keep your present coverage until the 2014 anniversary date of the policy, sometimes referred to as the renewal date. Then you will have to purchase a health insurance that conforms to ACA requirements."
Source: Covered California Q&A
-AC
"Can I Really Keep My Plan?
By Phil Daigle on April 19, 2013 1:53 PM | No Comments
Question: President Obama says that if I like my plan, I can keep it. My family is well over 400% of the Federal Poverty Level. Therefore, we will not qualify for a subsidy. My family has a $10,000 deductible HSA individual health plan that was purchased in 2012. Will I be able to keep my policy as is, for as many years into the future as I want to, like President Obama promised?
Answer: You know what they say about campaign promises, “I said what?”.
As it worked out you can keep your present coverage until the 2014 anniversary date of the policy, sometimes referred to as the renewal date. Then you will have to purchase a health insurance that conforms to ACA requirements."Source: Covered California Q&A
-AC
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