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Reply to STM and Proposed Changes     
Old 04-05-2017, 07:09 PM   #21
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STM and Proposed Changes Re: STM and Proposed Changes
ACA projects income, so you need to project 2017 income. (and then 2018).
ACA has nothing to do with last years' income.

If $0 is projected, and medicaid not available, then take an IRA distribution to create income legally, and get a highly subsidized ACA CSR low deductible plan.

That's what some of my clients do. 1 client took out $24k from IRA, and I matched it with $24k of tax credits, final price is $30 for both of them. That is how the game is legally played. A shame, and part of the law that needs fixing. This guy has 1.5 million in his IRA. The nation now owes $20,000,000,024,000
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Old 04-05-2017, 09:44 PM   #22
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kgmom219 on STM and Proposed Changes
 
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STM and Proposed Changes
Originally Posted by Yagents View Post
ACA projects income, so you need to project 2017 income. (and then 2018).
ACA has nothing to do with last years' income.

If $0 is projected, and medicaid not available, then take an IRA distribution to create income legally, and get a highly subsidized ACA CSR low deductible plan.

That's what some of my clients do. 1 client took out $24k from IRA, and I matched it with $24k of tax credits, final price is $30 for both of them. That is how the game is legally played. A shame, and part of the law that needs fixing. This guy has 1.5 million in his IRA. The nation now owes $20,000,000,024,000
What he said.

Plus, if he just lost his job, projected 2017 income includes 3 months of salary. Plus unemployment (?) should get him above the 100% or 138% of FPL depending on the state.

When does he turn 65?

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Good things don't come to those who wait. They come to those who work their butts off and never give up.
  Reply With Quote to STM and Proposed Changes
Old 04-06-2017, 08:10 AM   #23
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STM and Proposed Changes Re: STM and Proposed Changes
And, since current year income hasn't been received, any number entered on,an app is an estimate. Carriers won return premium retro to the effective date when determined to be ineligible in October of the next year when taxes are filed timely at time of automatic extension. By 10/15, you have 10 months gone. Rinse and repeat.

One person I know intends to get a divorce, pay his x to shift income, take a subsidy on self and goes on Medicare in a couple of years and intends to remarry his ex and go on vacation. Lots of hoops but saves money.
We have a cluster ****.
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Last edited by junkman; 04-06-2017 at 08:18 AM.
  Reply With Quote to STM and Proposed Changes
Old 04-06-2017, 10:20 AM   #24
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STM and Proposed Changes Re: STM and Proposed Changes
We have to the Tax Credit whisperers in so many situations, and why we get paid zero to $15 pmpm. . What I find scary is the kind of "deal with it" attitude of taking us back to the glory days of pre-existing waivers as the holy grail to save us. Allen's example being the kind of stories we were hearing prior to passage of ACA.
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  Reply With Quote to STM and Proposed Changes
Old 04-06-2017, 12:40 PM   #25
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STM and Proposed Changes Re: STM and Proposed Changes
I've never seen an indemnity plan worth buying. The generally misleading brochure that many agents use for presentation say "up to $xxxx" and neglect to note that you'll need cancer, diabetes (sudden onset), heart attack, accidental hospital stay, stroke & another accident to collect even a reasonable amount toward the 1st incident's bills.
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  Reply With Quote to STM and Proposed Changes
Old 05-05-2017, 01:22 AM   #26
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dorado on STM and Proposed Changes
 
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STM and Proposed Changes Re: STM and Proposed Changes
Originally Posted by dorado View Post
It said they would be able to offer the longer term.
My STM in VA can only be written for max 3 months with UHC. What carrier can do it for a longer term?
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  Reply With Quote to STM and Proposed Changes
Old 05-22-2017, 04:28 PM   #27
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tonyisme on STM and Proposed Changes
 
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STM and Proposed Changes
Just got an interesting email from Petersen Intl. Their STM plan lasts 3 months but seems like they have made an improvement
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  Reply With Quote to STM and Proposed Changes
Old 05-22-2017, 09:55 PM   #28
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STM and Proposed Changes Re: STM and Proposed Changes
I really can't recommend a 3 month STM unless that is the longest it will be needed. 2018 is shaping up to be a very interesting cluster ****. Guess I'll have to hire some (healthy) people and write a group.
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Old 05-23-2017, 09:22 PM   #29
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AllenChicago on STM and Proposed Changes
 
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STM and Proposed Changes Re: STM and Proposed Changes
Originally Posted by junkman View Post
I really can't recommend a 3 month STM unless that is the longest it will be needed. 2018 is shaping up to be a very interesting cluster ****. Guess I'll have to hire some (healthy) people and write a group.
Maybe the 2-person group will reappear for 2018.
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Old 05-24-2017, 08:22 AM   #30
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STM and Proposed Changes Re: STM and Proposed Changes
Originally Posted by AllenChicago View Post
Maybe the 2-person group will reappear for 2018.
It exists already in 2017. Maybe not in all states though.
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