Using a broker for Exchange policies?

[brewer12345]

Anyone know what the rules are? If I choose to use a broker do I get the same policies/pricing as the exchange? Still eligible for subsidies? We won't be eligible in 2015 but might in future years.

 

[Mulligan]

Everything I have read Brewer stipulates the pricing is the same on like policies no matter whether you work with a broker, buy directly from carrier, or the exchange. Insurance company pays commission directly to broker. Though I have read they are getting squeezed more than back in the day. I thought to get subsidy you have to go through the exchange. Maybe someone can prove me wrong. You can always go through broker this year, and then switch over the following year if that is indeed correct.


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[clifp]

I do wonder if case before the Supreme Court might have an impact on this. If the language is explicitly you have to buy coverage from an exchange set up by the state, and Federal exchanges are not eligible than perhaps brokers aren't either.

 

[Mulligan]

I do wonder if case before the Supreme Court might have an impact on this. If the language is explicitly you have to buy coverage from an exchange set up by the state, and Federal exchanges are not eligible than perhaps brokers aren't either.

Not trying to be political here, and preface with my opinion means nothing as always. But, I first thought this case would have no chance. But who knows. And now they (enemies of ACA) have found recordings of one of the programs founders last year saying certain things and admitting the original wording concerning subsidies from state exchanges was not an accident. I will admit I got screwed financially over the ACA, but now that we are here where we are, I don't want any overturns or this could really put me and many others out on a thin limb.


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[MichaelB]

Anyone know what the rules are? If I choose to use a broker do I get the same policies/pricing as the exchange? Still eligible for subsidies? We won't be eligible in 2015 but might in future years.

All new policies are required to be ACA compliant, so it should make no difference using a broker, buying direct, or the exchange.

Not all brokers are authorized to sell exchange policies, so the subsidy may not happen. I think the only issue you might have is if you suddenly find yourself eligible for subsidy later in the year. Other than that, as long as the broker confirms ACA policy compliance, it should make no difference.

 

[rbmrtn]

I posted this link last year on agents/broker/web brokers role in exchnages

http://www.in.gov/idoi/files/agent-broker-5-1-2013.pdf

It is also in FAQ section here, http://www.early-retirement.org/forums/f47/faq-archive-on-ppaca-66345.html

 

[Mulligan]

I posted this link last year on agents/broker/web brokers role in exchnages

http://www.in.gov/idoi/files/agent-broker-5-1-2013.pdf

It is also in FAQ section here, http://www.early-retirement.org/forums/f47/faq-archive-on-ppaca-66345.html

So this is what I was thinking. Ultimately like I was thinking you will have to go through the healthcare website to get the subsidy...the broker can help sign you up, but he will put his code in to get his commission... Below is a reason to use a broker.

2. Consider working with a health insurance broker. Such a pro might be able to help you find more appropriate, and perhaps less expensive, coverage than you’d find shopping the federal or state health exchanges.

“The only compelling reason for an individual to go to the dysfunctional ecommerce experiment [what you and I call the exchanges] is if you’ll be below 400 percent of the poverty level and will qualify for a subsidy,” says Will Donahoe, President of CBIZ-M.T. Donahoe and Associates, an employee benefits General Agent in Columbia, Md. “A broker is well-equipped to discern what your needs are.”

A broker might give you access to many more plans than what you’d see on the exchanges. In Maryland, for instance, The CareFirst BlueCross BlueShield health insurer offers 12 plans on the state exchange and another 25 to 30 more off-exchange, says Donahoe. “You get a lot more choice with a broker,” he says.

http://www.forbes.com/sites/nextavenue/2014/11/12/3-tips-for-obamacare-health-insurance-shopping/




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