Another obamacare question--must make a decision in a week

[Krischaser]

So my company no longer does a reimbursement of part of our medical costs and are now throwing at us a very expensive medical plan that we can enroll in or decline. All of this was last minuet and now we were given less than a week to decide what we are going to do. So now that I am learning more about possible subsidy I have read that if your employer is offering a medical plan then we don't qualify for a subsidy. Is this true? Even though I can't afford the medical plan they are offering? It would cost us one whole paycheck. My mind is spinning right now. Looking for advice if this is true? I don't believe the company of over 400 employees is covering any of the cost.

Thanks!

 

[Krischaser]

Plus someone suggested that the company is may not have all the facts about them having to stop this practice due to the new health care law. Does anyone know anything about this also?

 

[bearzabout]

Call the HealthCare.gov call center (1-800-318-2596) and see what they say. They can also look up some rates for you.

Since the above website does not work well, I called Blue Cross and got their rates with and without subsidies based on the annual salary I stated. If you do this, at least you can get some numbers to compare to your company's new plan.

The Kaiser Family Foundation has a great website that gives approximate costs and subsidies you may qualify for for Obamacare plans. Their FAQ section is very helpful in explaining coverage.

My rates through Obamacare are so high that if I can't keep my current individual plan at my current reasonable rate, I'm going to be uninsured for the first time in my life. Not happy. Our premiums would go from $4500 per year to $13,500 and the deductible would be higher than our plans now.

One other thing to consider: if you do sign up for a subsidized plan, the government will have to forward the subsidized amount to your insurance company of choice by the end of Dec for a January 1 effective date. Since it is unlikely that they can even get the website working well before 12/15, what are the odds that they will send out those payments on time? I'm concerned that the subsidized payments will not be made and those who signed up will have the entire premium amount taken out of their checking accounts by their insurer. I guess we won't know what will happen until the end of December.

Signing up for Obamacare plans without a subsidy is easy and can be done over the phone directly with the insurance company (according to Blue Cross of Michigan).

I hope this helps. Let us know how it goes for you.

 

[tvguy]

Yes, I believe having insurance at work eliminates the option of government subsidies. I think people forget the Affordable Healthcare Acts primary mission is to make sure those who did not have health insurance have an option. It's secondary mission is to set a minimum level of insurance for everyone, which in some cases, is hirer than people's current policies. Bottom line, paying for those subsidies and raising minimum coverage costs money, which is what jacked up premiums.

 

[lauradis]

Yes, I believe having insurance at work eliminates the option of government subsidies. I think people forget the Affordable Healthcare Acts primary mission is to make sure those who did not have health insurance have an option. It's secondary mission is to set a minimum level of insurance for everyone, which in some cases, is hirer than people's current policies. Bottom line, paying for those subsidies and raising minimum coverage costs money, which is what jacked up premiums.

Correct me if I'm wrong.....

Yes but if the premiums are more then 9.5 percent of your federal adjusted household income then you can use the exchange,

Go to your states exchange and look at what they have to offer.

 

[barkley]

Correct me if I'm wrong.....

Yes but if the premiums are more then 9.5 percent of your federal adjusted household income then you can use the exchange,

Go to your states exchange and look at what they have to offer.

the 9.5% rule is ONLY for the employee's portion of the premium, not the entire premium for any other family members.

many people who purchase insurance through their employers are seeing the rate structures greatly changed for the upcoming year such that the employee's portion of the coverage is hovering right around what the insurer estimates is 9.5% of the average household income for that service region while so much as one additional family member skyrockets that rate astronomically.

in our case rates for family coverage (2 adults/2 kids) are 40% of gross income but no eligibility for subsidy

 

[njcarita]

well op i hope the website works for your in you state..... i am in NJ and am on day 45 of attempting to see rates..... since my small group self employed plan was cancelled.............