Potential major good news on ACA premiums

[teej1985]

With Covered CA, how are ya'll even evaluating plans? When I played with it, it seemed like it didn't matter if you picked HMO or PPO, none of them cover anything at all out of network....so who has the biggest and most robust network?

[Agapostemon]

Just got the revised bill from Mass Health Connector, and our subsidy went up $133!

[teej1985]

Quote:

Originally Posted by teej1985 With Covered CA, how are ya'll even evaluating plans? When I played with it, it seemed like it didn't matter if you picked HMO or PPO, none of them cover anything at all out of network....so who has the biggest and most robust network?

Responding to me own question, this agent's website seems to be a great resource on CA ACA plans, has info on off-exchange plans, too:

https://insuremekevin.com/

[5Miler]

DGF received her confirmation letter last week for her revised premium with Kaiser Permanente. Her Cost Sharing Silver Plan premium was reduced from $50 per month to $1.96 per month. The identical plan last year was $260 per month.

[BladeS.]

Having a heck of a time making sense of the new ACA subsidy limit changes but this thread has helped quite a bit! Like many here, my main concern is exceeding the MAGI income estimates I give to the ACA at the start of each new year and then having to repay the subsidies they payout on our behalf come tax time. After reading this thread and info on the IRS website, it appears we may not need to worry about exceeding our MAGI limit for tax year 2020 as no ACA subsidy repayments will be required - correct? Also, that change does NOT apply to current tax year 2021 - correct? I also keep reading that the max someone on the ACA will be required to pay for healthcare in 2021 will be 8.5% of I'm guessing your MAGI since that's what's always used for current income/subsidy caps? This all sounds very promising for those of us walking that ACA subsidy/income tightrope each year and I'm still trying to decipher it all!

[ownyourfuture]

Money is literally falling out of the sky........for everyone!

If the huge savings on my healthcare premiums weren't enough, I filled out my 2020 property tax rebate form earlier today, & found I'll be getting $520.00 back.

The best part is, none of it will ever have to be paid back.
Yippee-Ki-Yay

Blue skies smilin' at me
Nothin' but blue skies do I see
Bluebirds singin' a song
Nothin' but blue skies from now on
I never saw the sun shinin' so bright

Never saw things goin' so right
Noticing the days hurrying by
When you're in love, my how they fly by
Blue days, all of them gone
Nothin' but blue skies from now on

Blue skies smilin' at me
Nothin' but blue skies do I see
Blue days all of them gone
Nothin' but blue skies from now on
Blue skies smilin' at me

Nothin' but blue skies do I see
Blue days all of them gone
Nothin' but blue skies from now on
Blue skies smilin' at me
Nothing but blue skies, do I see

Blue days all of them gone
Nothin' but blue skies from now on.......

"Blue Skies" written by Irving Berlin in 1926

[Eucerin]

I am happy for all of you that be able to reduce the monthly premium, but I am from CT and I have not received anything on this subject from state or insurance company. I called state representative last month and she said the state is looking into this. But I just auto paid May premium. So I chatted online with the rep and she doesn't seem know what I am talking about.

Is anyone from CT here? what is your experience?

[PaunchyPirate]

Quote:

Originally Posted by Eucerin I am happy for all of you that be able to reduce the monthly premium, but I am from CT and I have not received anything on this subject from state or insurance company. I called state representative last month and she said the state is looking into this. But I just auto paid May premium. So I chatted online with the rep and she doesn't seem know what I am talking about. Is anyone from CT here? what is your experience?

I'm not from CT, but did you review the notice on your state's health exchange website? I found this there...

https://help.accesshealthct.com/en_U...an-rescue-plan

It seems like it describes what you need to do.

[PaunchyPirate]

I decided to call the Pennsylvania exchange (pennie.com) since they still have ambiguous wording (in my opinion) on their website about what one should do to trigger the larger subsidies. Before calling, I had partially followed the advice on the website to edit my 2021 application and re-submit it (even if you changed nothing). But after it started asking me questions that confused me, I stopped editing. So I called their help line and an agent saw that I had edited the application. She said all she needed to do was re-submit it for me, which she did. She said my new subsidies (an additional $105 per month) should take effect with the June 1 premium. My insurance company generates that around the 10th of the preceding month, so we will see if they have the updated information or not. I'm confident it will kick in as soon as possible now.

I hope they don't restart my deductible, but that won't be the end of the world, since I don't really have much on it yet.

[erkevin]

In Biden's new relief bill of one bazillion dollars, there are funds in there to make the new subsidies permanent. Whether or not that provision makes it through congress is a different matter.

[Eucerin]

Quote:

Originally Posted by PaunchyPirate I'm not from CT, but did you review the notice on your state's health exchange website? I found this there... https://help.accesshealthct.com/en_U...an-rescue-plan It seems like it describes what you need to do.

Oh wow, THANKS!
I see the publication dated 4/29, its very recent. I will make a call to the state, too "chicken" to go through the process on my own, very afraid I would do something that cause problems.

[Wille]

I have been receiving texts and emails suggesting that since I have ACA that I look for a new plan at a discount. Is anyone changing their plans and if you change your plans, does your deductible that you have paid so far start over at $0?

[Aerides]

merged with active thread

[Texas Proud]

Quote:

Originally Posted by Wille I have been receiving texts and emails suggesting that since I have ACA that I look for a new plan at a discount. Is anyone changing their plans and if you change your plans, does your deductible that you have paid so far start over at $0?

I did not change plans...


As to changing plans and deductible... I would guess you start again at zero... now, if you keep the same company buy change to a different plan (say gold from silver) you might get away with it... I would call to be sure..

[PaunchyPirate]

Quote:

Originally Posted by Wille I have been receiving texts and emails suggesting that since I have ACA that I look for a new plan at a discount. Is anyone changing their plans and if you change your plans, does your deductible that you have paid so far start over at $0?

I also had no reason to change plans. On our exchange in Pennsylvania, they caution you:

1. If changing plans within the same insurance company, contact the company to see whether they will be resetting deductibles/OOP values.

And

2. If changing insurance companies, you should expect the deductible/OOP values to be reset.

I don’t believe there are any ACA rules requiring insurance companies to carry these numbers over during policy changes.

[zinger1457]

Quote:

Originally Posted by Wille I have been receiving texts and emails suggesting that since I have ACA that I look for a new plan at a discount. Is anyone changing their plans and if you change your plans, does your deductible that you have paid so far start over at $0?

If you already have ACA I don't believe you'll find any 'new' plans being offered, just the same plans that you had to choose from at the end of last year. The big change is the increase in the subsidy most will get and the elimination of the cliff.

[MichealKnight]

I just early-retired 3 months ago. Long story short, as w-2 pay.....

I was paid $260,000 for the year of 2021.

Family of 4.

Am I right in thinking with an income of $260k - - there's no extra help I'm gonna get?

Next year....I've already decided and feel it's very realistic to get $700-800$ per month in subsidy but in 2021 - is it safe bet that $260k income, family of 4, isn't gonna get any subsidy?

[SecondCor521]

Quote:

Originally Posted by MichealKnight I just early-retired 3 months ago. Long story short, as w-2 pay..... I was paid $260,000 for the year of 2021. Family of 4. Am I right in thinking with an income of $260k - - there's no extra help I'm gonna get? Next year....I've already decided and feel it's very realistic to get $700-800$ per month in subsidy but in 2021 - is it safe bet that $260k income, family of 4, isn't gonna get any subsidy?

Probably not, although you can check here with your actual data and see for yourself:

https://www.kff.org/interactive/subsidy-calculator/

It'll depend on the zip code you live in, the ages of the four people, and tobacco use, and maybe another thing or two.

[garyt]

Quote:

Originally Posted by Wille I have been receiving texts and emails suggesting that since I have ACA that I look for a new plan at a discount. Is anyone changing their plans and if you change your plans, does your deductible that you have paid so far start over at $0?

I re-applied for the same plan and saved $80 a month and my deductibles didn't reset. i didn't even have to redo my automatic payment.

[Eucerin]

Quote:

Originally Posted by Eucerin Oh wow, THANKS! I see the publication dated 4/29, its very recent. I will make a call to the state, too "chicken" to go through the process on my own, very afraid I would do something that cause problems.

Went through the process with the rep, and was able to increase the monthly subsidy by $128, the monthly premium dropped to a pleasant level. Kept same plan.