NON Grandfathered Plans - 2014 Premiums?

[Yagents]

With regards to IFP plans we've been selling for the past 2 yrs, and the plans we'll be selling for the next 1 1/2 years; what's going to happen to these rates in 2014 when they all must comply with actuarial values that are much higher than what they own now, and also factoring in Guar issue requirements???

With NO subsidies, will these plans cost the same as an exchange offered policy?

I see a whole lot of my grandfathered book maybe sticking tight, but my NON GF policies will be GONE if we are not allowed to be compensated for exchange policies.

(BTW, happy 2 yr anniversary to PPACA / Wepackyah)

This is what's happening in Washington state:
In addition, Aetna and others health plans will be asking the governor to veto Section 7 of the bill requiring all grandfathered plans outside the exchange to conform with all the actuarial value tiers – bronze through platinum - beginning on January 1, 2014. As written, the bill could have significant cost impacts on plans for small and large employers alike. The ACA only requires non-grandfathered plans to conform with the value tier and the essential health benefit package.
http://www.aetna.com/health-reform-connection/reform-explained/health-reform-weekly.html

 

[STIBROKER]

(BTW, happy 2 yr anniversary to PPACA / Wepackyah)

yea....this pos was approved on my birthday.....had to hear peeler laff his ass off....

 

[taterpeeler]

yea....this pos was approved on my birthday.....had to hear peeler laff his ass off....

im still laughing...... suicide would have been a noble option for you......

 

[wyche1]

my carriers are telling me expect 40% increases! This is when liberals are going to say maybe ACA is not so great!! Hitting the pocket book HARD seems to change peoples values. I have a big book of non-grandfathered contracts and really feel for them. Had I known then I would have never let anyone change a deductible to save premium xince 3/23/10.

 

[insuranceconceptscindy]

The majority of my book is non-grandfathered. I think I need to spend more time in the Life and LTC part of this forum, as my Individual health business is going to be smoke very soon.

 

[Yagents]

my carriers are telling me expect 40% increases! This is when liberals are going to say maybe ACA is not so great!! Hitting the pocket book HARD seems to change peoples values. I have a big book of non-grandfathered contracts and really feel for them. Had I known then I would have never let anyone change a deductible to save premium xince 3/23/10.

As long as you don't change plans, raising the deductible does NOT necessarily mean you lose your grandfathered status. Check with the carrier.

 

[wyche1]

According to Blue Cross of OK a 10% change in the benefit value (not the premium) constitutes a change that makes you lose your grandfathered status. They could be wrong in their interpretation of the law but they have coded most if not all of those clients as "newer" contracts. I really hope a few of them get to keep the grandfathered status.

If anyone sold American Medical Security before UHC bought them let me know if you think there entire old book will be considered grandfathered?

 

[CHUMPS FROM OXFORD]

I sold AMS in Pa. Great rates in Central Pa. But I only have about 10-12 left that are still active.

 

[russelltw]

GF status is a gimmick. Sooner or later people will lose GF status. If your pool of GF plans starts to take on higher claims, watch those rates start to climb. It will enter a death spiral with no new people coming in, more claims, higher premiums, etc. GF was just a nice catch phrase in my opinion.

My main carrier rep said GF plans will be done within a couple years. As people jump on to ACA plans with subsidies, the pool of GF plans shrinks, the carrier can decide to drop all GF plans due to cost to maintain the book. I have GF status now, but I bet I will be off it in 2 years. I guess we will wait and see...

 

[ctg]

What is the downside of switching from a GF plan to a new one? Here in Iowa, we have an April 1 premium increase with the biggest carrier. (I believe they have 85%+ for individual and group) I have a lot of people asking.

I've moved some clients to another carrier, and increased deductible with the same carrier for others to save premium. Only when it makes sense, of course.

My cover-my-backside statement is that we don't exactly know what it going to happen in 2014.