All the deductible's went up this year except for one of our platinum plans with zero deductible. The subsidy, aka obamacare, advance premium tax credit when applied to the second cost silver plan lower's the deductible and copays and your cost share in general. So if you have the second lowest cost silver and it says $5000 deductible and after you run the subsidy application the deductible in most every instance will be lowered and your copays. The FPL has gone up a little bit and if one does nothing and are automatically reenrolled then the government is suppose to adjust your subsidy upward and that is only if you checked the box that said YES the IRS can look at my returns for the next 5 years, if you did not check the box and you want to see if your subsidy is a little more you will have to complete another application. If you do nothing before 12/15 you will have the higher premium and maybe subsidy on Jan 1, but you have until 2/15 to change.
Since the government ask everyone to project adjusted gross income most certainly everyone will have a discrepancy when they file their taxes in 2015 for 2014, it will either be too much or too little subsidy you received. If it is too little you will see a larger tax return, if you received too much you may have to pay some back and they will take it out of your tax return. Anyone receiving a subsidy will not be able to file early because the you will have to wait on a form from the IRS or marketplace stating how much you received.
Across the U.S. some, I should say a handful of smaller company's did decrease their rates, but mostly the company's that already dealt with insuring medicaid patients. For the most part all the larger insurance company's had increases from 7.5% up to 40% for individual plans. Aetna pulled out in all county's in Florida except for 4 and in the panhandle Assurant and UHC are on the exchange as well as Coventry and Blue Cross.
Rick Scott did not help with the rate increases in Florida, although an insurance company has to file their rates with Office of Insurance Regulation, Scott said anything was ok for the next two years, 2014 and 15. So that is like telling a kid in a candy store "Go to It".
On the other side when you tell an insurance company they have to take everyone and there are no actuarial tables ever to say how many claims would come in from anyone with a dreaded disease would be paid out and then the rates had to be filed with the government early on if you were playing the game, insurance company's do not even to this day what it will look like at the end of the year or 2015.
So all in all regardless what party I lean toward the whole law sucks and will eventually be scrapped in it's present form but some parts will remain.
Last edited by ppaca on 11/15/2014, 9:34 am; edited 1 time in total
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