DW's ACA premium dropped over 50% for the rest of the year.

[ShokWaveRider]

DW just got a note from Florida Blue saying that her monthly premium dropped >50%. This was unexpected.

In addition she religiously takes part in Florida Blue's rebate plan. She takes tests, follows a healthy lifestyle and posts the results on their website. So far this year her rebates have more than covered her premiums and she still has a good amount in reserve. So this year will be $0 cost to her.

Things do seem to be perking up in the ACA world. Are we the only ones seeing these advantages?

 

[O2Bfree]

DH and I started on ACA in Washington in January 2020 with a premium of $94 for both of us. This year our premium dropped to $3.13. I suppose that won't last, but we're sure enjoying it while it does.

 

[bobandsherry]

Part of the Covid economic relief package, aka American Rescue Plan, passed earlier this year.

https://www.marketwatch.com/story/o...t-much-cheaper-for-early-retirees-11616501143

 

[Aerides]

Part of the Covid economic relief package, aka American Rescue Plan, passed earlier this year.

https://www.marketwatch.com/story/o...t-much-cheaper-for-early-retirees-11616501143

But didn't we have to sign up to do that? I did, my premium dropped in April.

 

[bobandsherry]

But didn't we have to sign up to do that? I did, my premium dropped in April.

Originally, yes. But something changed along the way as I received notification from Florida Blue that a change was made through HealthCare.gov. I didn't make the request, seems they just automated the change. It lowered my payment. I was going to keep it as it was as I'll be maxing out my gains this year with the temporary 8.5% of MAGI, so my MAGI will be higher than I had estimated/planned for this year. But if they want to give me more credit now that I didn't request, that's fine as I'll just true things up at tax time.

Login to HealthCare.gov and review your messages. I'll bet you'll find a message from them that they have made a change for you. You could also change your plan, but that was something you needed to do. But otherwise they just revised your subsidy credit. Dropped my monthly bill by about 90%.

 

[Dtail]

Dropped around 20% for my brother and me, but already was in the 150% of FPL bracket.

 

[PaunchyPirate]

I got the combo deal premium reduction here in Pennsylvania. In May they permitted us to manually update our account in the state exchange if we wanted to. I didn't have to enter any new data, I simply had to resubmit my application for insurance and that forced a repricing due to the ARP legislation. That increased my subsidy effective June 1st. Soon afterwards, they had figured out how to do this all automatically + calculate how much additional credit could be given for the rest of the year to make up for the January-June months that were now qualified for increased subsidy but that had not been credited. So they added that additional amount to subsidies for the remaining months of the year. So my subsidy went up again effective July 1st. I pay $113 per month for a Gold plan for the rest of the year. It will go up again on January 1st because for next year it will be the normal ARP enhanced subsidies. It's been a little confusing, but I was able to understand what they did along the way.

 

[zinger1457]

I've gotten some decent MLR (medical loss ratio) rebates from BCBS that have cut my premiums quite a bit but not to zero.