2 year extention for currrent HCP??

[bradaz2488]

Has anyone check or heard from their health insurance company if you will be able to extent your current healthcare policy for 2 more years (Oct 1st 2016) instead of moving to ACA? I'm 50 and my current policy (BCBS-AZ) is $182/month with a $8000 max OOP. Still trying to figure out the numbers if it makes sense to move to ACA if they do allow for a 2 year extension on current plans. I plan to call them in the next couple of weeks, but wanted to see if anyone else as info on this topic... Thanks...

 

[Mulligan]

If you find out please post what you discover. I am in the same boat, and would strongly prefer avoid paying triple what I currently am for as long as possible. I am not calling because I do not want to get worked up over it like I did last year. Insurance company wouldn't confirm they were extending the plans until the very final few weeks. My pessimism in me believes they will not announce any time soon. Probably going to wait and find out if they are incurring enough losses to decide if they need to cancel old plans and risk that you will roll into one of their ACA plans to increase their revenue.


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[bradaz2488]

Just got my quote from BCBS-AZ for 2015 renewal. My current policy will go from $182/mo to $240/mo a 24% increase. Not sure I will be able to do better on ACA system. I'm tending to just sit back and see where the ACA dust settles before playing that game....

 

[zinger1457]

I got a letter from Aetna that my policy will not be renewed at the end of this year and I'll need to find something else starting 1 Jan.

 

[Mulligan]

I got a letter from Aetna that my policy will not be renewed at the end of this year and I'll need to find something else starting 1 Jan.

Did they quote you a policy and cost they would put you in to replace it? They did me as I got my non renewal letter last month. I did the back of the envelope math, and if I knew I only had only one $50k incident every 5 years, I would be as good paying cash and taking the tax deduction with it and not having insurance. Unfortunately no one can guarantee me that would be the worse case scenario. One thing is sure, thanks to my new premium, I have no reason to ever complain about my house or car insurance again.


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[zinger1457]

Did they quote you a policy and cost they would put you in to replace it?

No, Aetna decided to stop providing coverage in the area of SE Arizona that I live. My understanding is the only place in Arizona they will continue to provide coverage is in Maricopa county (Phoenix). It wasn't a surprise, they notified me last year that I only had one year left.

 

[ERhoosier]

I suspect there will be more announcements of cancellation of existing non-ACA-qualified plans in the future. Although extensions of grandfathered plans is being allowed through 2016 plan years, many carriers are finding that renewal rates are relatively low and the admin overhead of running these shrinking enrollment plans are rising-even in some major city markets. At some point these GF renewals become niche products which are not cost-effective for either the company or the customer. It ain't just happening in AZ. Anthem recently canceled one such plan in Indianapolis area due to a renewal rate of only 25%.
Anthem tells 30,000 in Indiana to switch policies | WISH-TV