Potential Changes to PPACA

[gerrym51]

IMO, it depends because the cause of the higher premiums is higher risk and claims because of pre-existing conditions, etc. If they price it right it could be good, but the transparency of the exchanges should put pressure on pricing so the end result will largely depend on whether some companies decide to price really competitively in order to gain market share.

I think there is a reasonable possibility that the exchanges could become a war zone and the insurers will beat the stuffing out of each other price-wise, which would be bad for the insurers.

i can guarantee you it will not be priced right according to anyone. if your poor enough to get govt subsidy thats one thing.

 

[MichaelB]

i am going to retire early. my cobra price is less than the mass connector plans.
i live in mass. cobra is not cheap


remember under this system an insurance company cannot turn you down.

the prices will not be cheap like some imagine.

i posted on another thread.

google mass. health care connector. select non subsidised plans.

will ask age and zip code. google a mass zip code and enter it.

this system guarantees coverage. it does nothing to control costs

I did that. Plugged in a local zip code and looked at the plans. The most expensive plans - gold - averaged in price about what we are paying now. The difference is our annual OOP is $5K each and the Mass gold plan is $0. Plans with deductible and OOP levels similar to what we have today are about 40% less.

There is so much cross-subsidization and cost shifting in health care and insurance today no one can predict what will happen with the pricing. It is probably safe to assume that people paying much less than the average cost will see increases, and people paying substantially more will not.

 

[MooreBonds]

Won't higher premiums be really, really good for insurance companies? I doubt the actuaries won't figure out a profitable pricing strategy on lower deductibles.

Sounds like a license to steal.

Perhaps one silver lining is that (I believe) the law that health insurers must spend at least 80%/85% on "patient care" is still in effect.....so at least initially, there shouldn't be any massively over-inflated policies - and if there are, you'll be getting a rebate check.

 

[gerrym51]

I did that. Plugged in a local zip code and looked at the plans. The most expensive plans - gold - averaged in price about what we are paying now. The difference is our annual OOP is $5K each and the Mass gold plan is $0. Plans with deductible and OOP levels similar to what we have today are about 40% less.

There is so much cross-subsidization and cost shifting in health care and insurance today no one can predict what will happen with the pricing. It is probably safe to assume that people paying much less than the average cost will see increases, and people paying substantially more will not.

thanks-i think you made my point better than i did. we early retires who have reasearched this know the costs-especially if your buying insurance. prior to the mass health law we had guaranteed issue. this said a health plan could not refuse you coverage if you were willing to pay the price.

the mass plans now are lower premiums than that

 

[heeyy_joe]

Here is a link I found on grandfathered plans:

FAQs About the Affordable Care Act Implementation Part II

 

[MichaelB]

Here is a link I found on grandfathered plans:

FAQs About the Affordable Care Act Implementation Part II

Welcome to the forum heeyy joe. Thanks for the link. Why not stop buy here and tell us a little about yourself Hi, I am... - Early Retirement & Financial Independence Community

 

[ERhoosier]

Continued existence of HDHP's with HSA's under PPACA seems rather unsettled. While technically allowed under the new law, the law's interpretation & implementation rules (e.g. Medical Loss Ratio calculations, etc.) could easily remove this HI option from the market.
www.ncpa.org/pdfs/​Milliman-MLR-Analysis-for-ABA-HSA-Council-010612.pdf

Despite Potential PPACA Problems on the Horizon

 

[heeyy_joe]

Welcome to the forum heeyy joe. Thanks for the link. Why not stop buy here and tell us a little about yourself Hi, I am... - Early Retirement & Financial Independence Community
__________________
Saying HELLO! Joe, age 57, Kentuckian transplanted to Dallas Texas to shorten the length of time to retirement (01/2014) Then I will be at my beach condo in Fl (already purchased). Former licensed securites trader and banker, currently directing a national call center for an international manufacturer. Looking forward to retirement with wife of 33 years. 2 children, 6 grandchildren - will have plenty to do when retired.