IRS Changing APTC with Out Notice

[taterpeeler]

Happy to be of service.

my pool need cleaning....... can I count on you to be of service?

 

[sman]

my pool need cleaning....... can I count on you to be of service?

You couldn't afford me.

 

[AllenChicago]

I am getting multiple reports from clients that after they have filed their taxes for the 2014 tax year that their APTC is being reduced or increased based off of their tax filing.

The application process states "What do you expect to make in 2015?" Not..."Hey, what do you think you're going to make in 2K15 but we're going to check your 2K14 taxes and make adjustments as we see fit!"

Anyone else had this reported yet? This is just starting to happen and many clients haven't figured it out until the auto draft comes out of their account....

This is totally insane.

This CMS slide-deck presentation says that as of 2015, the Marketplace is "adjusting" premium tax credits if estimated 2015 income is not verified within 90 days of application approval.

Ref: https://marketplace.cms.gov/technical-assistance-resources/resolve-data-match-issues.pdf

It also states that the Marketplace makes multiple attempts to contact the APTC recipient before making a subsidy adjustment, or cancelling the policy.

It seems that the subsidy reductions are occurring, but not the exhaustive attempts at contacting the insured beforehand.

 

[Norwayguy]

This CMS slide-deck presentation says that as of 2015, the Marketplace is "adjusting" premium tax credits if estimated 2015 income is not verified within 90 days of application approval.

Ref: https://marketplace.cms.gov/technical-assistance-resources/resolve-data-match-issues.pdf

It also states that the Marketplace makes multiple attempts to contact the APTC recipient before making a subsidy adjustment, or cancelling the policy.

It seems that the subsidy reductions are occurring, but not the exhaustive attempts at contacting the insured beforehand.

Any chance the attempts are also done by the compound in London, KY ? Maybe the government never connected the internet and phone lines there?

 

[kgmom219]

Any chance the attempts are also done by the compound in London, KY ? Maybe the government never connected the internet and phone lines there?

I know that my clients caller ID was Rogers AR, Fargo ND and Idaho.

 

[AllenChicago]

Any chance the attempts are also done by the compound in London, KY ? Maybe the government never connected the internet and phone lines there?

Have you ever Google-mapped that 465 Industrial Avenue, London, Ky. address and viewed it from above? It's really a strange place...particularly the remote bldg that's set apart from the main bldg. Most cars in the lot are the same color too. Creepy.

 

[YouGotMyMoney]

I never "googled" their address, but now that I have - why the hell is it in the sticks?

 

[Post Quartermaster]

I never "googled" their address, but now that I have - why the hell is it in the sticks?

Meh....its close to a major roadway. Notice the Walmart distribution center around the corner.

Cars in the parking lot aren't all/mostly the same color as Allen suggests.



Just another big building with a bunch of labor that cannot keep up with demand. No big conspiracy I can see.....

 

[cadylou]

This CMS slide-deck presentation says that as of 2015, the Marketplace is "adjusting" premium tax credits if estimated 2015 income is not verified within 90 days of application approval.

Ref: https://marketplace.cms.gov/technical-assistance-resources/resolve-data-match-issues.pdf

It also states that the Marketplace makes multiple attempts to contact the APTC recipient before making a subsidy adjustment, or cancelling the policy.

It seems that the subsidy reductions are occurring, but not the exhaustive attempts at contacting the insured beforehand.

I just had this happen to one of my people who ended up not making enough in 2014 to get the subsidy. They "adjusted" her subsidy to zero without notifying her and the carrier suddenly was just taking about $500/mo from her checking account directly . . . . .awful. She cannot possibly afford that. She said she called the marketplace & they are "re-enrolling" her in something else (which means I won't be her agent anymore either), and I guess they are able to do this even though this particular item doesn't qualify as a SEP under the rules we have.

I'll try to get through one more enrollment period with my individuals and if it's as horrible as it has been, just get out of that market & go straight Medicare. It will be a relief . . . .

 

[MaryDallas]

I just had this happen to one of my people who ended up not making enough in 2014 to get the subsidy. They "adjusted" her subsidy to zero without notifying her and the carrier suddenly was just taking about $500/mo from her checking account directly . . . . .awful. She cannot possibly afford that. She said she called the marketplace & they are "re-enrolling" her in something else (which means I won't be her agent anymore either), and I guess they are able to do this even though this particular item doesn't qualify as a SEP under the rules we have.

I'll try to get through one more enrollment period with my individuals and if it's as horrible as it has been, just get out of that market & go straight Medicare. It will be a relief . . . .

I just noticed another one today, too. This whole thing is taking a nose dive: I am rethinking my commitment as well. The instability is staggering.