Pay ACA subsidy with cash back CC?

[intent]

I've searched but can't seem to find if this has been answered.

We're in the process of signing up for an ACA plan through the Colorado state exchange and we're trying to decide if we should take the subsidy monthly, or just wait and claim it on our taxes. The pro of paying in full and taking the credit at tax time would seem to be that we could pay the full premium using a cash back credit card; however, I'm not sure if that's even a possibility.

Does anyone know if you can pay premiums using cc when buying from the CO exchange? Do you make payments to the exchange, or to the insurer directly?

Thanks.

 

[SecondCor521]

In Idaho, I pay my after-subsidy premium to the insurer directly every month. Some magic happens where the subsidy is paid from the ACA to my insurer monthly.

I just have them ACH out of my checking account. I just checked and I can actually pay with a CC if I want to. It probably depends on the insurer.

I would assume, but not be certain, that CO and CO insurers are similar.

 

[orchid55]

We pay all of our health insurance premiums, including Medicare, with a credit card. The only time we couldn't use a card was when we had COBRA. Our COBRA was ACH or checks only.

 

[Aerides]

I think it depends on the actual policy provider, not the exchange itself or the state. I'm with Florida Blue and they just added CC for payment last year.

 

[MRG]

I live in CO and buy BCBS from the state exchange. I pay unsubsidized amount to BCBS directly. DW writes a check but I believe they will accept CC.

If you don't qualify for reduced copay and out of pocket expenses it's no different other than your giving the insurance company a free loan.

 

[PaunchyPirate]

It's specific to the insurance provider. I pay my monthly health insurance premium (and most other bills) with my Citi Double Cash credit card.

 

[pjm-7]

I am on Connect for Health Colorado. I pay my monthly premium to BC/BS by credit card. Previously, when I had Kaiser in the Denver area I also used my credit card. I also like the ability to have proof of payments since Connect for Health is not one of my favorite organizations to deal with (there are previous rants about that). They are getting better.

 

[O2Bfree]

We're with Molina in Washington state and auto-pay the provider with a credit card. We're taking the tax credit now, but paying full price now and getting cash back could be a good idea depending on your return with that money invested elsewhere.

 

[Dtail]

I think it depends on the actual policy provider, not the exchange itself or the state. I'm with Florida Blue and they just added CC for payment last year.

Same here, although must pay in person at CVS for example.

 

[intent]

Thanks all. Exactly the info I needed.

 

[Texas Proud]

My first couple of years I paid 100% by CC and settled up with my tax return...


But, I have decided to take the subsidy and pay the difference... some insurance will allow CC but mine currently does not...


The difference is that a couple of times my subsidy was larger than I was supposed to get (got higher year end distributions than expected) and I only had to pay back a part of the overage (a few years ago) or nothing (last year)...

 

[Lagniappe]

Dtail,

Florida Blue let's you pay with a CC on their site now. I still pay at CVS because I get a 75% point bonus at Pharmacies, but it can be done directly.

Same here, although must pay in person at CVS for example.