|
|
04-28-2017, 02:52 PM
|
#1
|
Recycles dryer sheets
Join Date: Dec 2005
Posts: 317
|
ACA Enrollment Question
I'm planning on enrolling for Insurance starting in June. I've been in touch with an Insurance Agent who claims that he can help me navigate the process with a conference call with the state, and not to try it myself, as it's difficult and dealing with these people isn't easy
He says he's paid from the state to help, and doesn't receive any compensation, but I'm just leery of sales people in general!
He also said the people he can put us in touch with are different than if I make the call..
Am I being paranoid?
|
|
|
|
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
04-28-2017, 03:14 PM
|
#2
|
Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,518
|
The agent is paid by the insurer, so there is no additional cost to you. Before you sign, though, you should make sure the agent represents all the insurers in your state, and will get you access to all the policies, both on exchange and directly with the insurers.
|
|
|
04-28-2017, 03:37 PM
|
#3
|
Thinks s/he gets paid by the post
Join Date: Mar 2009
Posts: 2,975
|
Do your currently have insurance through your employer? Is COBRA offered? Please check out your options.
__________________
Took SS at 62 and hope I live long enough to regret the decision.
|
|
|
04-28-2017, 04:11 PM
|
#4
|
Full time employment: Posting here.
Join Date: Jan 2013
Posts: 775
|
Quote:
Originally Posted by Livefree
I'm planning on enrolling for Insurance starting in June. I've been in touch with an Insurance Agent who claims that he can help me navigate the process with a conference call with the state, and not to try it myself, as it's difficult and dealing with these people isn't easy
He says he's paid from the state to help, and doesn't receive any compensation, but I'm just leery of sales people in general!
He also said the people he can put us in touch with are different than if I make the call..
Am I being paranoid?
|
If you have insurance now, the suggestion to remain with your current insurer through COBRA is a very good one.
Once you start over with a new policy even if it is with the same insurance company, your deductible resets.
In which state do you reside?
It really isn't that hard to sign up through HealthCare.gov website.
I have been on ACA for 4 years.
|
|
|
04-28-2017, 05:15 PM
|
#5
|
Recycles dryer sheets
Join Date: Dec 2005
Posts: 317
|
Quote:
Originally Posted by broadway
If you have insurance now, the suggestion to remain with your current insurer through COBRA is a very good one.
Once you start over with a new policy even if it is with the same insurance company, your deductible resets.
In which state do you reside?
It really isn't that hard to sign up through HealthCare.gov website.
I have been on ACA for 4 years.
|
I'm in Mass. My company's insurance is expensive. Right now I pay $1050 per month for my wife and I, and Cobra would be about $1300 I believe.
I understand the deductible/out of pocket resets, but I'm trying to stay within 250% of FPL to keep that manageable by loading up my 401k at work, and also because I pay so much for insurance now, my taxable income is low.
|
|
|
04-28-2017, 05:16 PM
|
#6
|
Recycles dryer sheets
Join Date: Dec 2005
Posts: 317
|
Quote:
Originally Posted by MichaelB
The agent is paid by the insurer, so there is no additional cost to you. Before you sign, though, you should make sure the agent represents all the insurers in your state, and will get you access to all the policies, both on exchange and directly with the insurers.
|
That's good to know..Thanks.
|
|
|
04-28-2017, 05:57 PM
|
#7
|
Recycles dryer sheets
Join Date: Jan 2013
Posts: 380
|
I think the MAhealthconnector is relatively easy to navigate and you can browse plans now.
I do not believe you can buy individual plans direct from the insurers in MA. It looks like you can when you go to the website but when you start you get redirected to the exchange. So your choice is connector ( exchange ) or Cobra
I also think your choice of plans gets more limited if you are claiming cost sharing That may not matter to you but be aware there is a lot of difference in provider networks among plans and tufts has 2 types - premier which is the normal network and direct which is limited Neither my pcp nor my one specialist takes direct neither do the specialists I would pick if I developed issues. Some of the direct doctors are great but you might not get your top choice
|
|
|
04-28-2017, 07:20 PM
|
#8
|
Recycles dryer sheets
Join Date: Dec 2005
Posts: 317
|
Quote:
Originally Posted by Sarah S
I think the MAhealthconnector is relatively easy to navigate and you can browse plans now.
I do not believe you can buy individual plans direct from the insurers in MA. It looks like you can when you go to the website but when you start you get redirected to the exchange. So your choice is connector ( exchange ) or Cobra
I also think your choice of plans gets more limited if you are claiming cost sharing That may not matter to you but be aware there is a lot of difference in provider networks among plans and tufts has 2 types - premier which is the normal network and direct which is limited Neither my pcp nor my one specialist takes direct neither do the specialists I would pick if I developed issues. Some of the direct doctors are great but you might not get your top choice
|
The insurance agent mentioned Tufts and Neighborhood Health Plan as two of the options available. My current plan is Aetna and the deductible and out of pocket is $6000 and $6400
|
|
|
04-28-2017, 07:27 PM
|
#9
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
|
My state has its own exchange and it is easily the most benighted, incompetent organization it has ever been my misfortune to deal with (and I say that as a taxpayer and former regulator). Without the help of my agent I think I would have firebombed the exchange headquarters by now. The help is free, so make sure they are competent and take advantage of it.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
|
|
|
04-28-2017, 07:55 PM
|
#10
|
Recycles dryer sheets
Join Date: Jan 2013
Posts: 380
|
You can see the prices for your zip on the website. For my area tufts premier silver for me is 687 a month for one person. 2000/ 7150 ( I think) deductible and max. I am 60
I like tufts to deal with and the premier network is better than neighborhood health. Check the formulary if you take/ might take meds
Blue cross has the broadest formulary but they make more drugs specialty with inflated copays than tufts does
|
|
|
04-29-2017, 05:41 AM
|
#11
|
Thinks s/he gets paid by the post
Join Date: Jan 2014
Posts: 1,173
|
Quote:
Originally Posted by MichaelB
The agent is paid by the insurer, so there is no additional cost to you.
|
Most health insurers have stopped paying commission outside open enrollment. The agent hopes the client returns for his Medicare supplement or Advantage plan selection and refers friends to the agency.
At the very least, the OP should go to the State health insurance exchange website and print a list of the plans offered. The agent should be able to explain why the one he chose is the best instead of the others.
Quote:
|
|
|
04-29-2017, 12:23 PM
|
#12
|
Moderator
Join Date: Apr 2012
Location: San Diego
Posts: 14,137
|
Since you are just retiring you may not qualify for subsidies since you have a partial year of income. That's why I did Cobra for the remainder of the year when I retired June 2014.
__________________
Retired June 2014. No longer an enginerd - now I'm just a nerd.
micro pensions 6%, rental income 20%
|
|
|
04-29-2017, 12:50 PM
|
#13
|
Recycles dryer sheets
Join Date: Dec 2005
Posts: 317
|
Quote:
Originally Posted by rodi
Since you are just retiring you may not qualify for subsidies since you have a partial year of income. That's why I did Cobra for the remainder of the year when I retired June 2014.
|
I'm trying to keep my taxable income low enough to qualify, by maxing out 401k and my Medical Premiums are also Pre-Tax resulting in a low taxable income from my job.
|
|
|
05-15-2017, 04:00 PM
|
#14
|
Recycles dryer sheets
Join Date: Dec 2016
Posts: 200
|
I had checked the policies online myself before going to my agent. She had a large board up and we put in various plans, prices and comparisons to help with our choice. She told us after she gets no commission from this. She said she depends on word of mouth and hopefully we'll recommend her to someone needing life insurance or some other product that she does get commission from.
|
|
|
05-18-2017, 03:10 PM
|
#15
|
Thinks s/he gets paid by the post
Join Date: Feb 2014
Posts: 3,046
|
If you have a bunch of income in the front of the year, say severance and unemployment, a drop in income in the last part of the year may qualify you for Medicaid in those low income months. This can get you to the next open enrollment period.
|
|
|
05-18-2017, 07:19 PM
|
#16
|
Full time employment: Posting here.
Join Date: Mar 2017
Posts: 629
|
Quote:
Originally Posted by broadway
It really isn't that hard to sign up through HealthCare.gov website.
I have been on ACA for 4 years.
|
It really is simple. We don't have a state exchange so I signed up through the HealthCare.gov website.
|
|
|
05-18-2017, 08:03 PM
|
#17
|
Thinks s/he gets paid by the post
Join Date: Jul 2007
Posts: 3,221
|
Quote:
Originally Posted by jim584672
If you have a bunch of income in the front of the year, say severance and unemployment, a drop in income in the last part of the year may qualify you for Medicaid in those low income months. This can get you to the next open enrollment period.
|
I'm certainly not a medicaid expert but everything I've seen in my state shows that qualifying is based on your MAGI for the year so it shouldn't matter when you earned the money during the year. If the money you earned at the beginning of the year puts you over limit then you wouldn't qualify for the no/low income months.
|
|
|
05-19-2017, 05:14 AM
|
#18
|
Thinks s/he gets paid by the post
Join Date: Feb 2014
Posts: 3,046
|
Quote:
Originally Posted by zinger1457
I'm certainly not a medicaid expert but everything I've seen in my state shows that qualifying is based on your MAGI for the year so it shouldn't matter when you earned the money during the year. If the money you earned at the beginning of the year puts you over limit then you wouldn't qualify for the no/low income months.
|
That is true for the subsidies but not for Medicaid. I thoroughly researched this question and the law is written as monthly income for Medicaid. I dropped into it mid year when my UI ran out and even though my annual income was over the limit.
|
|
|
05-19-2017, 07:04 AM
|
#19
|
Thinks s/he gets paid by the post
Join Date: Jul 2007
Posts: 3,221
|
Quote:
Originally Posted by jim584672
That is true for the subsidies but not for Medicaid. I thoroughly researched this question and the law is written as monthly income for Medicaid. I dropped into it mid year when my UI ran out and even though my annual income was over the limit.
|
So someone retired could take a $100K 401K/IRA distribution in January and sign up for medicaid for the other 11 months? If that were possible I'm sure it would be a popular topic on this forum.
|
|
|
05-19-2017, 07:36 AM
|
#20
|
Thinks s/he gets paid by the post
Join Date: Feb 2014
Posts: 3,046
|
Most people do whatever it takes to avoid Medicaid so it has never been popular on the forum.
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Thread Tools |
|
Display Modes |
Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|