ACA Rate Increases For 2019

[Rianne]

In 2017, the numbers for 2018 came so late we didn't know what was going on. The law is the law, as far as I understand. The premiums and costs may increase but the income levels are still supported by subsidies unless Congress voted otherwise. Am I correct? I can't keep track of what the heck's going on in Washington. Of course, no political statement here.

 

[FIREd]

No word yet from BCBS of Alabama. Last year they released the proposed new rates for 2018 in August IIRC (and I did not receive any letter from BCBS regarding the rate increase until the enrollment period opened in November). Last year, our unsubsidized rate only went up 5%. With the loss of the individual mandate, I am bracing for a much larger rate increase this year.

Last year there was a page on the ACA website listing all the proposed rate increases requested by insurance companies. I can't find it this year. Anyone has a link?

 

[ripper1]

Haven't received anything yet. I hope it won't go up that much. I already pay $1680 per month for DH and myself.

Gee, I thought I was paying a lot at 1500 per. Are you guys in your early 60's?

 

[HGTVfan]

The Sun Sentinel reported this morning teh three major insurers have all filed for 2019 South Florida's 3 Obamacare providers file proposals to return in 2019 - Sun Sentinel

Thanks for posting. I’ve been happy with Florida Blue but I’ll be even happier (I hope) when I get Medicare in September 2019.

It’s been a rocky ride since I retired in 2009 and my company’s retiree health insurance was discontinued a year later.

 

[MBSC]

Last year there was a page on the ACA website listing all the proposed rate increases requested by insurance companies. I can't find it this year. Anyone has a link?

2019 proposed rate increases are supposed to be posted August 1st. In prior years, increases of less than 10% did not need to be posted. The threshold is 15% for 2019.
https://ratereview.healthcare.gov/#search

 

[Cat-tirement]

2018 is our first year on an ACA exchange policy. I haven't received any notice from the insurance company about 2019, but the state healthcare website has posted preliminary rate requests for 2019. My company is actually proposing a rate decrease of 2% for standard silver and 9% for bronze and gold. This would move them from second lowest of four this year to be the lowest for next year. We'll see what gets approved in the end. Even though it's going down, it's still expensive.

 

[FIREd]

2019 proposed rate increases are supposed to be posted August 1st. In prior years, increases of less than 10% did not need to be posted. The threshold is 15% for 2019.
https://ratereview.healthcare.gov/#search

That's it! Thanks!

 

[ShokWaveRider]

Thanks for posting. I’ve been happy with Florida Blue but I’ll be even happier (I hope) when I get Medicare in September 2019.

I will be going on Medicare in 2019. I will DEFINATELY be far worse off than I was on ACA. I will be going from a $0 monthly premium with a $2000 MAX OOP and Zero Deductible with $10 & $35 Copays for docs an Specialists to a $275 pm premium plan F and a Drug Plan that I will not use. So far this year I have used $105 of my OOP AND I have a Pacemaker that needs regular attention.

 

[pb4uski]

....The premiums and costs may increase but the income levels are still supported by subsidies unless Congress voted otherwise. Am I correct?...

To the best of my knowledge there will still be ACA subsidies in 2019 and they will operate much the same as they have the past few years.

 

[ShokWaveRider]

To the best of my knowledge there will still be ACA subsidies in 2019 and they will operate much the same as they have the past few years.

But no cost sharing.....

 

[gstillson]

Bronze plan sounds better in 2019 than cost sharing silver plan if they get rid of cost sharing. At least then you get an HSA contribution

 

[ncbill]

I will be going on Medicare in 2019. I will DEFINATELY be far worse off than I was on ACA. I will be going from a $0 monthly premium with a $2000 MAX OOP and Zero Deductible with $10 & $35 Copays for docs an Specialists to a $275 pm premium plan F and a Drug Plan that I will not use. So far this year I have used $105 of my OOP AND I have a Pacemaker that needs regular attention.

Plan G not available in your area?

Helped an older relative sign up this year and Plan G premiums + deductible were much less than Plan F premiums.

 

[ShokWaveRider]

Plan G not available in your area?

Helped an older relative sign up this year and Plan G premiums + deductible were much less than Plan F premiums.

Not sure yet. BUT what is more important is because of my heart condition, if switching from Plan F HD to Plan F (or G) down the road triggers underwriting, then it is a non starter.

 

[MBSC]

But no cost sharing.....

Silver plan Cost Sharing Reductions (CSR) remain available in 2019. The only question was if the cost had to be spread across non-Silver premiums in 2019.

"HHS Secretary Alex Azar confirmed in June 2018 that no changes would be made for 2019. He left the door open for potential changes in 2020 or beyond, but noted that regulations requiring insurers to add the cost of CSR to premiums for all plans (instead of just silver plan premiums) could not be completed in time for 2019. Insurers in many states had already filed their proposed rate changes for 2019 at that point, and in almost all cases, the cost of CSR has been added to silver plan premiums.

The result of the spike in silver plan premiums is that premium subsidies are much larger for 2018 than they would otherwise have been, and that will continue to be the case in 2019."

Source: https://www.healthinsurance.org/obamacare/the-acas-cost-sharing-subsidies/

 

[UnrealizedPotential]

One of the things I looked at when I was buying my bond funds, and other monthly and quarterly making investments was the history of year end dividends and special dividends. I wanted funds, etf's etc, that didn't have a history of paying them. Mostly just because I didn't want to deal with them anymore.


So far it's working. I have one bond fund that usually pays a year end dividend and it's not a big deal, maybe $500 or around there. I was worried there would be these big year end dividends and it would make my taxes harder. That thought was probably a little overreacting, but I am glad I did that.


It made predicting my yearly income easier for the ACA .

 

[Helena]

I'm really skeptical that the individual mandate will have such a significant impact. That suggests that a lot of people were buying health insurance only because of the mandate... rather than paying the penalty... given that the penalties were so modest compared to the premiums for a year I am very skeptical that is the case. If I am right then they will be handing out big premium refunds in 2020 because of the minimum loss ratio requirements.

Wasn't the mandate penalty removed ?

.

 

[audreyh1]

Wasn't the mandate penalty removed ?

.

Yes, but his point is that many folks ignored the mandate anyway.

 

[pb4uski]

Yes, but his point is that many folks ignored the mandate anyway.

Yes, my point was that I think very few people bought because it was mandated because the penalty was not very significant... I think people bought because they wanted/needed health insurance.

 

[scrabbler1]

Yes, my point was that I think very few people bought because it was mandated because the penalty was not very significant... I think people bought because they wanted/needed health insurance.

If my state (New York) agrees with you, they will reduce the increases, especially from those companies which included a large portion of their increase due to the effective repeal of the individual mandate. I saw an article today that NY will announce the approved rate changes by early August.

 

[Rambler]

I haven’t heard anything yet, but we’re moving from NorCal to AZ, and so far my research has shown me that our rate will be 40% higher here in AZ. We’ve kept our NorCal plan for the remainder of the year since we have to go back and forth while trying to get the new house set up and the CA house sold. Everything is cheaper here in AZ, except health insurance. Looks like insurance will eat at least half of the tax savings we’ll realize from moving here, but we’ll still come out ahead, be in a state more closely aligned with our political leanings, and also closer to family, so it’s still the right move.

 

[Rambler]

We of course bought health insurance because we needed it, but so far, it hasn’t paid for much of anything. We’d have been better out of pocket because of the huge deductible. On top of that, I had Prostate cancer last year, and my insurance wouldn’t cover the current “gold standard” prostate surgery (DaVinci robotic surgery) so I flew to New York to have it done by a top surgeon in the field, and paid for it out of pocket. Hopefully, that’s the last major health issue for a while. The cost was steep, but I have no regrets...I still function the way I’m supposed to. (My dad had open surgery, which is what my insurance allowed, and has leaked like a sieve ever since he was 60...at 55, I couldn’t stomach that prospect).

 

[kimcdougc]

Gee, I thought I was paying a lot at 1500 per. Are you guys in your early 60's?

I am 58 and DH is 60. Out ACA plan also does not cover us out of our primary unless it is an emergency.

 

[VanWinkle]

No news on Illinois rates at this time. As long as subsidies remain, I should be good.

 

[Scout]

MAGI

Trying to get a handle on predicting magi for next year and I’m still confused about dividends. I know that dividends in my taxable account will count toward magi, but will the ones in my SEP IRA?

 

[MichaelB]

Trying to get a handle on predicting magi for next year and I’m still confused about dividends. I know that dividends in my taxable account will count toward magi, but will the ones in my SEP IRA?

Nope. Only if you withdraw them.