Author Topic: Office fiancial policy changes for upcoming changes with ACA  (Read 4857 times)

RichardP

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Re: Office fiancial policy changes for upcoming changes with ACA
« Reply #15 on: December 10, 2013, 11:17:39 PM »
... we do not expect a whole lot because we have the highest insured population of any state already.

I gave the information I did as a response to that statement.  Not so that we should get involved in helping patients figure out if they qualify for the Premium Tax Credits.  But so that we can see for ourselves (those who bother to study the information at the link) that there may be, in 18 months or so, far more folks subject to the 90-day grace period than we are expecting.

PMRNC

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Re: Office fiancial policy changes for upcoming changes with ACA
« Reply #16 on: December 11, 2013, 09:23:23 AM »
So much for Transparency which was ONE of the big platforms That guy ran on...

John is 24 years old and has an annual
income of $22,980, which equals 200
percent of the poverty line. His
expected
contribution is 6.3 percent of his income, or
$1,448 a year. The benchmark plan
available to John is priced at $5,000; John
would be eligible for a credit amount of
$3,552 ($5,000 minus $1,448)

I CALL BULL CRAP.. My daughters boyfriend is 23, he graduates college with his four year degree and for this year he earned less than "John" in that example and he only qualified for $2800 credit! He would still pay MORE in monthly premium's than his car payment!! This is why they are not getting the younger people to sign up!! College graduates are getting out of school only able to find jobs at $10-$11 bucks an hour in many places IF THEY FIND ONE!.  Add $500-$1000 in rent, the average car payment of $300 and how the hell can they live on that?? This is why they are all coming home to stay with mom and dad!

These numbers they are putting out are BOGUS.. BULLCRAP and nothing more than a bunch of LIES just like his entire presidency has been.  Oh but Medicaid benefits are INCREASING in many states. I can name many things Medicaid pays more for than my Cadillac union plan!
Linda Walker
Practice Managers Resource & Networking Community
One Stop Resources, Education and Networking for Medical Billers
www.billerswebsite.com

shanbull

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Re: Office fiancial policy changes for upcoming changes with ACA
« Reply #17 on: December 11, 2013, 11:29:26 AM »
Linda, what state is that in?! My income this past year was the same as "John's" and I'm 25. I did not qualify for a tax credit (plans here are too cheap for anyone to qualify) but my monthly premium is $120 ($1440 per year total), with a $2700 deductible. $0 coinsurance and copays if I stay in network because I did qualify for cost-sharing deductions. There seems to be a crazy amount of variability in pricing among states and in urban vs. rural areas. I can't even get a read on what the national average is. Also, with many states refusing Medicaid expansion, the issue for lower income (but not completely destitute) young people is even more complicated.

But I can say the rate I am getting through this new plan provides much better coverage with a lower premium and deductible than I had before. My state did create its own exchange (and therefore its own deals with insurance companies so we have more and different plan options than the national exchange) and expanded Medicaid.

PMRNC

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Re: Office fiancial policy changes for upcoming changes with ACA
« Reply #18 on: December 11, 2013, 05:01:17 PM »
I'm in NY State (uipstate)

You said:
Quote
I did not qualify for a tax credit (plans here are too cheap for anyone to qualify)

This is big problem.. YOU should have qualified as it goes by INCOME .. NOT plan premiums, unless I am not understanding.

$120 may seem reasonsable.. but it's really NOT with a $2700 deductible because if you consider that deductible (which has to be met each year for benefits to be paid out) you are actually paying $345  (AVERAGE) .. you may not even spend that if you are not in need of continuous medical care.  So for the AVERAGE 25 year old who may not have ongoing medical conditions that is MORE than a car payment! HECK.. MOST 25 year olds will NOT meet the deductible. (look at the stats for your geographical area).   Sure this is a SWEET deal if you have an ongoing health condition that needs constant physician care, but for the AVERAGE 25 year old.. NO it's not a deal. It's a RIPOFF.  That's the problem.. MISLEADING information.   If you don't have a need for ongoing medical treatment, it's CHEAPER to pay the penalty (which they can ONLY collect if you have a refund coming) and find a provider who offers concierge care or cash pay discount.

Linda Walker
Practice Managers Resource & Networking Community
One Stop Resources, Education and Networking for Medical Billers
www.billerswebsite.com

shanbull

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Re: Office fiancial policy changes for upcoming changes with ACA
« Reply #19 on: December 12, 2013, 10:00:52 AM »
I'm in NY State (uipstate)

You said:
Quote
I did not qualify for a tax credit (plans here are too cheap for anyone to qualify)

This is big problem.. YOU should have qualified as it goes by INCOME .. NOT plan premiums, unless I am not understanding.


This is what I thought too, but then I found out there is a threshold where if the premium offered by the insurance companies is low enough, the tax credit does not apply because the tax credit would have me paying less than nothing. I'm still confused as to how there are people paying $3 premiums in Florida but here $120 is too cheap to qualify. Our state exchange has done a terrible job of explaining this (and the website still says nothing about it).

As far as this being a better deal for me, my previous premium was $175 a month and I had a $4,000 deductible with coinsurance and copays, plus very little of my care was covered at all because every minor ailment I've ever had became a pre-existing condition on my record. This was the plan I had to take after to insurers turned me down flat. I don't have any serious chronic illnesses. For me specifically, the new plan is a better deal both in financial terms and because I no longer have these "pre-existing conditions" that were not expensive or serious illnesses, but I do require occasional medical care for. No, it's not great, but it's much better than what I was able to get before. So it's hard for me to feel upset. Especially because like most young people, I'm used to getting shafted at this point.