Press Release: On 11th Anniversary of the Affordable Care Act's Signing, Governor Cuomo Announces Ex

[Northeast Agent]

Press Release: On 11th Anniversary of the Affordable Care Act's Signing, Governor Cuomo Announces Expanded Eligibility for Financial Assistance in New York

Extends Open Enrollment Period to the End of 2021

Joins CA in extending until year's end.

 

[somarco]

Insurance carriers will love this. Anyone can come in anytime and bring their pre-ex with them.

 

[Yagents]

Carriers don't care, any premium increases are now paid for by taxpayers with the new ACA Biden Bucks program being based on a % of your income. (More tax credits to equal premium increase)

 

[Northeast Agent]

somarco said:

Insurance carriers will love this. Anyone can come in anytime and bring their pre-ex with them.

How does this differ from Medicaid/CHIP, as they have open enrollment year-round?

 

[Yagents]

We will see how many clients try to get smart and cancel coverage now for March 31st, and then can get coverage anytime for the next 5 months guar issue covering pre existing. That's called adverse selection at its finest

 

[Yagents]

https://galen.org/assets/Expanded-A...ng-Health-Inflation-and-Income-Inequality.pdf

The legislation being proposed by congressional Democrats to boost spending on the Affordable Care Act (ACA) reveals that the law has severely underperformed expectations. Even worse, the proposed expansion recklessly boosts federal subsidies for health insurance in a way that exacerbates tax inequities, substantially replaces private spending with government spending, reduces incentives for work and productivity, and significantly adds to already unsustainable family and government health care expenditures.

The revised structure makes the premium tax credits (PTCs) much larger for older people and those with higher incomes. PTCs reduce enrollees’ out-of-pocket payments for health insurance with the federal government sending funds to health insurers each month. Since the proposal would deliver tens of billions of more taxpayer subsidies to them annually, health insurance companies are lobbying strongly in support of it.