King v Burwell (ACA Subsidies) Decision Announced

[scrabbler1]

The ACA was the keystone to my ER. Without it, with a pre-existing condition and being in my early (now mid) 50s, I would have had real difficulty finding health insurance at all, let alone affordable health insurance.

Ahhhhh. (That's a sigh of relief, not a prelude to a cussword!)

Similar here. Without the ACA, I would have been faced with some lousy choices: Go without HI, buy a policy which would have left me vastly underinsured (which I was for 2 1/2 years prior to 1/1/2014), or remain with my skyrocketing individual HI policy whose premiums had grown by nearly 50% in 2 years, putting a small but growing strain on my budget.

 

[Texas Proud]

Similar here. Without the ACA, I would have been faced with some lousy choices: Go without HI, buy a policy which would have left me vastly underinsured (which I was for 2 1/2 years prior to 1/1/2014), or remain with my skyrocketing individual HI policy whose premiums had grown by nearly 50% in 2 years, putting a small but growing strain on my budget.

I do not think that the premium growth has stopped...

I just checked and my policy this year is 24% higher than last with a worse policy...

They have already hinted at a 20% plus rate increase for next year...


The good news is that I am going to be getting my subsidy when I file my tax return... I had decided not to apply for one since I still do work if they find me a good temp job that is close to me.... so far this year all the ones offered have been long commutes...

 

[Mulligan]

I do not think that the premium growth has stopped...

I just checked and my policy this year is 24% higher than last with a worse policy...

They have already hinted at a 20% plus rate increase for next year...


The good news is that I am going to be getting my subsidy when I file my tax return... I had decided not to apply for one since I still do work if they find me a good temp job that is close to me.... so far this year all the ones offered have been long commutes...

My policy has strongly hinted 20% increase next year also. However going off memory a competing company (Anthem) was about $30 higher so I just took the cheap one. Anthem has reported their increases will be under 10% next year. So I think the big increase in mine was just aggressive price undercutting and realized they went too far. I know the bottom line is I will pay more but it sounds better that it is not true medical inflation just a hopeful one year pricing mistake.


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[NYEXPAT]

I am happy as now it does not matter which state we choose when we move back Stateside, although Plan B (Staying in Peru for 5-7 years more) is certainly looking good ( with the rising Dollar). Loved how they kidded around about changing the name to SCOTUScare!

 

[Texas Proud]

My policy has strongly hinted 20% increase next year also. However going off memory a competing company (Anthem) was about $30 higher so I just took the cheap one. Anthem has reported their increases will be under 10% next year. So I think the big increase in mine was just aggressive price undercutting and realized they went too far. I know the bottom line is I will pay more but it sounds better that it is not true medical inflation just a hopeful one year pricing mistake.


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I have BCBS.... they were cheaper than the other options, but also not as good network.. I think they are going to be about the same as others now, so I might have a choice in what I buy... however, I will be closing in on $1,000 per month for a bronze plan with HIGH deductible... last year I was in the low $600s

 

[Mulligan]

I have BCBS.... they were cheaper than the other options, but also not as good network.. I think they are going to be about the same as others now, so I might have a choice in what I buy... however, I will be closing in on $1,000 per month for a bronze plan with HIGH deductible... last year I was in the low $600s

Texas, please tell me this a premium cost for two people!


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[Texas Proud]

Texas, please tell me this a premium cost for two people!


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Actually 4... two adults and two kids...

 

[EastWest Gal]

For me this is a huge relief. It means the ACA won't be gutted by a "death spiral" of people dropping insurance due to lack of affordability. It means preserving the ACA with all it's common sense benefits for preventive care. It means not losing your health insurance if you start a small business instead of working for Megacorp. It means not getting dropped from insurance when you actually get sick and need health care, which was something I thought was horrible and nonsensical about our profit hungry insurance industry. It means young women who are pregnant can be covered under their parents' insurance and get better prenatal care, which may be one of the factors in the reduced rate of preterm deliveries we are seeing.

The ACA was one of the reasons I could RE without worry that I wouldn't find health insurance.


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[scrabbler1]

I do not think that the premium growth has stopped...

I just checked and my policy this year is 24% higher than last with a worse policy...

They have already hinted at a 20% plus rate increase for next year...


The good news is that I am going to be getting my subsidy when I file my tax return... I had decided not to apply for one since I still do work if they find me a good temp job that is close to me.... so far this year all the ones offered have been long commutes...

Before the ACA, trying to buy an affordable individual HI policy here in New York was impossible. I had used ehealthinsurance to find my first policy in 2009. That's the one whose premiums rose nearly 50% in 2 years. It was either that or the policy which left me vastly underinsured. Let's say there was no ACA and I stayed with that policy instead of dropping it in early 2011 when I was paying nearly $700 per month (1 person, me). If the premiums rose only 7% per year over the next 4 years, bringing me to this year. I'd be paying about $900 per month (again, for ONE person only).

This makes the ACA a bargain even without any subsidies. Anthem had filed for a 14% increase this year but the NY Insurance Dept. cut it back to about 7%. They are filing for another 14% for 2016 but who knows if the NYID will cut that back, too. But, unlike the days before the ACA, I have lots more choices now than I had in 2011. I can change the type (i.e. metal) of my plan from Silver to Bronze. There are many more companies selling insurance now than there were in 2011 I can switch to.

The ACA has been a godsend for me, making insurance affordable without being underinsured.

 

[RunningBum]

It would be nice if the thread title had something about ACA subsidies and the supreme court decision. I don't think that many people really know it as King v Burwell.

 

[pb4uski]

I was thinking the same thing. Or at least add "on ACA subsidies" to the title.

 

[HFWR]

It would be nice if the thread title had something about ACA subsidies and the supreme court decision. I don't think that many people really know it as King v Burwell.

Yep, I know Elvis is the King, but who is this Burwell fellow?

 

[Htown Harry]

Here's a link to the opinion, http://www.supremecourt.gov/opinions/14pdf/14-114_qol1.pdf

Think what you want about the merits of Scalia's dissent, but I think there is no argument that it makes for an entertaining read.

 

[eytonxav]

I am not on Obamacare nor is my DW, but have a DD that I am covering under a BCBS Gold plan without subsidy due to health issues and her not being able to work (will not go for medicaid even if she qualified). I am surprised at how costly this plan is for a 23 yo and it makes me wonder for those that receive a subsidy how long it will be before their subsidy is consumed by yearly policy price increases?

 

[photoguy]

I believe the subsidy is based on capping premiums as a percentage of income so yearly price increases can't consume it.

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[Nunthewiser]

^^ Yes. The "retail price" of our policies is now $11K. The subsidy is $10K . If the retail price goes to $13K and I have to pay $3K rather than $1K, well OK. I can shop a bit harder. So the subsidy serves as a pretty big insulator to policy increases, at least in our case.

 

[Big_Hitter]

I am surprised at how costly this plan is for a 23 yo

the reason these plans are so expensive for young people is the ACA 3 to 1 rule - you can't charge someone more than 3 times what another pays so young people pay more

 

[utrecht]

Before the ACA, trying to buy an affordable individual HI policy here in New York was impossible. I had used ehealthinsurance to find my first policy in 2009. That's the one whose premiums rose nearly 50% in 2 years. It was either that or the policy which left me vastly underinsured. Let's say there was no ACA and I stayed with that policy instead of dropping it in early 2011 when I was paying nearly $700 per month (1 person, me). If the premiums rose only 7% per year over the next 4 years, bringing me to this year. I'd be paying about $900 per month (again, for ONE person only).

This makes the ACA a bargain even without any subsidies. Anthem had filed for a 14% increase this year but the NY Insurance Dept. cut it back to about 7%. They are filing for another 14% for 2016 but who knows if the NYID will cut that back, too. But, unlike the days before the ACA, I have lots more choices now than I had in 2011. I can change the type (i.e. metal) of my plan from Silver to Bronze. There are many more companies selling insurance now than there were in 2011 I can switch to.

The ACA has been a godsend for me, making insurance affordable without being underinsured.

Can you explain this? Im still really confused about the whole ACA thing. If you're not eligible for a subsidy, is there any difference between an ACA policy and buying a policy using ehealthisurnace or healthsherpa?

 

[Big_Hitter]

Can you explain this? Im still really confused about the whole ACA thing. If you're not eligible for a subsidy, is there any difference between an ACA policy and buying a policy using ehealthisurnace or healthsherpa?

shouldn't be

 

[Mulligan]

Can you explain this? Im still really confused about the whole ACA thing. If you're not eligible for a subsidy, is there any difference between an ACA policy and buying a policy using ehealthisurnace or healthsherpa?

New York pre ACA had guarantee issue like ACA. However it did not have the subsidies and such to help bring in a healthier pool of insured to keep premium costs down. If you were healthy and not a high income person it wasn't worth the cost of the insurance. NY had at one point only 15,000 or so population in the individual market out of 20 million people. It just cost too much. MO where I live had 4-5 times the amount of people with individual insurance despite being a quarter of the population. Of course its insurance was way more affordable, but they underwrote the policies so they could reject unhealthy people applying.
As far as today....There really isnt a meaningful difference in where you get your plan now if you don't get a subsidy. I went through ehealth to avoid all the hassle of .gov.


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[MichaelB]

the reason these plans are so expensive for young people is the ACA 3 to 1 rule - you can't charge someone more than 3 times what another pays so young people pay more

Actually, ACA pricing makes policies for younger people less expensive. Large group policies offered by employers do not charge for age, the rate is the same for all employees. The premium for a 30 year old is higher for the employer policy compared with an individual plan. The introduction of age based pricing was intended to make policies for young people less expensive, thus encouraging them to enroll.

 

[Mulligan]

Actually, ACA pricing makes policies for younger people less expensive. Large group policies offered by employers do not charge for age, the rate is the same for all employees. The premium for a 30 year old is higher for the employer policy compared with an individual plan. The introduction of age based pricing was intended to make policies for young people less expensive, thus encouraging them to enroll.

In my state anyways, individual insurance was always charged in relation to age. Compared to group plans I imagine you are correct. Especially if your company was all 50 year olds and you were the only 25 year old.
But in the individual market pre ACA you were always charged in relation to your age band. I am going off total memory and could be faulty. But there was a minor uproar when rules were being set that the young were in effect subsidizing the older at 3-1. I could have sworn in traditional pre ACA individual market the ratio difference was closer to 5-1.


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[Big_Hitter]

Actually, ACA pricing makes policies for younger people less expensive. Large group policies offered by employers do not charge for age, the rate is the same for all employees. The premium for a 30 year old is higher for the employer policy compared with an individual plan. The introduction of age based pricing was intended to make policies for young people less expensive, thus encouraging them to enroll.

that's certainly an issue for employers to consider, I was talking about individual plans on the exchanges

if someone jumps the company ship and goes to an exchange to get a subsidy then there is a penalty involved

 

[Big_Hitter]

I am going off total memory and could be faulty. But there was a minor uproar when rules were being set that the young were in effect subsidizing the older at 3-1. I could have sworn in traditional pre ACA individual market the ratio difference was closer to 5-1.

Your memory is correct. The true cost is closer to 5-1 so the 3 to 1 rule sticks it to the young uns.

 

[Texas Proud]

that's certainly an issue for employers to consider, I was talking about individual plans on the exchanges

if someone jumps the company ship and goes to an exchange to get a subsidy then there is a penalty involved

I do not think you qualify for a subsidy if you are working and offered a plan....

OR, do you mean actually quitting a job just to get on an exchange to get a subsidy That does not make much sense to me....