Well HHS is breaking down page by page of the law and finally distributing out to major insurers on how this whole thing is going to work. First off if any of you are going to be at least 65 on Jan 1, 2014 you can breathe a big sigh of relief you won't be subject of what's coming. None of what I've learned is in fact or myth, it is how HHS is making insurer administer the whole program.
The ones between 100 -200% of poverty level at first are going to make out like bandits on their health insurance premiums, the rest are going to be basically screwed.
I also have to eat my words of about a year and half ago when I said and went along with most of you could keep the plan you were on just like Obama said. The percentages are leaning against that fallacy, even you bought your health insurance plan after 3/23/2010 and they were health care compliant at that time and when we told you grandfathered plans were here to stay. NOPE not all. But then again your agent was just advising you on the communications at that time filtering down from HHS.
Florida will have an exchange but it will be facilitated by the Feds since Scott doesn't want a Florida run exchange.
When you sign up for insurance you will have to make your tax returns available to the insurance agent (if you want the subsidy) thru a tool that your agent will be using thru the insurance company you're signing up with. If you don't want the subsidy, no problem you don't have to let your agent see them online.
This will work a little bit like drawing social security. In other words if you sign up for the effective date of your policy Jan 1, 2014 and you qualified for subsidy from your 2012 tax return and in 2015 when your tax return is checked for 2013 and your income went up, well guess what? You have to pay back some of your subsidy for the year you received it. I would imagine it will just be reduced to nothing the next year.
There will be open enrollments like the Medicare Advantage is now and if it's not enough now for us to do it's going to be the same months as Med Advantage, except the first time which will run from Oct 2013 thru March 31, 2014.
Is everyone's mind boggled now? Mine certainly was and all these little things will be released slowly to us, so we can digest before Oct 2013.
If the general population would have really known how this will work I bet 90% would have been against this legislation instead of 60%.
This will be the biggest cluster fu you've ever seen.
Oh, you'll be fine if you are not doing anything with the subsidy except you may have to change your plan to be compliant with the max out of pockets set by the government.
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