Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Switch to non-grandfathered?
Old 05-26-2011, 12:22 PM   #1
Confused about dryer sheets
Join Date: Apr 2006
Posts: 8
Switch to non-grandfathered?

My daughter (11) and I (50) are now covered under individual plans from Anthem Blue Cross in CA. We currently have the option, expiring on June 30th, to switch from our current plans which are "Grandfathered" under the ACA, to new "non-grandfathered" plans. This option was apparently the fallout from a class-action settlement in the state of CA.

There seem to be a number of complicated arguments on both sides of the switch vs. don't switch decision.

Switch -
* Get out of a pool that is now in the process of shrinking, which will probably result in adverse selection and premium increases down the road.
* Get into a plan with presumably better protections for me as a consumer since it is covered by the ACA.

Don't switch -
* Avoid premium increases that will occur down the road as Anthem is forced to adopt ACA-driven provisions in their coverage.
* My investigatory call to Anthem led to talking with a sales agent who had obviously been strongly coached to plug this option - given my trust level in Anthem, not a good sign...
* The new plans available to us seem to be somewhat more expensive for a given level of coverage (although this difference could be swamped by premium increases pretty easily)

"Wait and See" -
* We could also roll the dice to see what materializes down the road - any future premium increase between now and 2013 will once again open the door for us to switch out of our current plans

Just looking for insights from this community on the best choice, or other considerations...
SkiFIRE is offline   Reply With Quote
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 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!


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Nonstop bait and switch? travelover Travel Information 13 10-30-2010 05:21 AM
Internet Kill Switch? easysurfer FIRE Related Political Topics 3 06-19-2010 05:12 PM
3-way switch wiring thefed Other topics 30 06-12-2008 06:24 PM
How to switch gears to spending Mudd Life after FIRE 12 04-17-2007 03:40 AM
What does it take to switch wildcat Young Dreamers 5 04-02-2005 05:56 PM


All times are GMT -6. The time now is 06:30 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.