Some Oregonians CAN keep their plans (but why would they want to?)

[csrowan]

From: http://www.dailytidings.com/apps/pbcs.dl...sitesearch

By Greg Stiles
For the Tidings
Posted: 2:00 AM November 25, 2013

Nine insurance companies told the Oregon Insurance Division Friday they will offer the option to renew current individual health plans that failed to comply with the federal Affordable Care Act.

Regence BlueCross BlueShield of Oregon, Kaiser Foundation Health Plan of the Northwest, Providence Health Plan, LifeWise Health Plan of Oregon, Health Net Health Plan of Oregon Inc., Time Insurance Co. and John Alden Life Insurance Co. told the state they will offer renewals through Dec. 31, 2014. The companies collectively cover about 60 percent of people in Oregon's individual insurance market.

Moda Health Plan and PacificSource Health Plans are offering to renew previously canceled policies through March 31, 2014.

"Most of these people will qualify for tax credits through the exchange," said Cheryl Martinis, a spokesperson for the state's Consumer and Business Services Department. "While they can keep their policies with those companies, they would have fewer out-of-pocket expenses going through the exchange. There were a bunch of people who couldn't afford to use the (policies) they had because of the high deductible."

The insurance companies are required to notify customers of their options by Nov. 29. The renewals will not be automatic. People who want to renew current plans must opt in to keep their current plan.

To be eligible, people must have been covered by their plan on Oct. 1, 2013, with continued coverage through Dec. 31.

Martinis said people who choose to keep existing plans will not qualify for tax credits, which could potentially lower their costs, through Cover Oregon. But they would avoid a tax penalty in 2014 under the individual mandate.

Last week, Oregon Insurance Commissioner Laura Cali gave insurers the option of continuing existing plans through March or December of next year. Companies had to notify the Insurance Division Friday with their decisions.

With the announced extensions by the insurers, Cali said Oregon consumers have more choices than ever in 2014.

Not all of the companies announcing renewal options offer insurance through the exchange. In Jackson County, Pacific Source Health Plans, Health Republic Insurance, BridgeSpan Health, Moda Health Plan, Providence Health Plan, LifeWise Health Plan of Oregon, Oregon's Health CO-OP and Trillium Community Health Plan are on the exchange list.

"Consumers can choose to keep current plans a little longer or they can choose to shop for more comprehensive benefits and financial assistance through Cover Oregon," Cali said.

[GPnative]

I want to because I am happy and content with the coverage we have and I can afford it. The coverage we have is mostly up to speed with most points of the ACA as it just renewed a year ago with updated coverages and premiums. It is nice I can keep coverage and not be fined and at least for now remain par as the ACA and smotheroregon dust continues to settle.

I meet w/ my agent this afternoon, but unless he shows me "an offer I can't refuse" I am going to sit tight for a year.

[csrowan]

I was referring specifically to this paragraph when I made that title:

"Most of these people will qualify for tax credits through the exchange," said Cheryl Martinis, a spokesperson for the state's Consumer and Business Services Department. "While they can keep their policies with those companies, they would have fewer out-of-pocket expenses going through the exchange. There were a bunch of people who couldn't afford to use the (policies) they had because of the high deductible."

If that doesn't apply to you, then I can see why you would want to stick with your old plan for now. But it sounds to me like changing plans is a good deal for the majority of people, if the article is accurate.

[MarkM]

GP, I'd be interested to hear how it went with your agent if you want to share.

[Scrapper]

I want to because I am happy and content with the coverage we have and I can afford it. The coverage we have is mostly up to speed with most points of the ACA as it just renewed a year ago with updated coverages and premiums. It is nice I can keep coverage and not be fined and at least for now remain par as the ACA and smotheroregon dust continues to settle.

I meet w/ my agent this afternoon, but unless he shows me "an offer I can't refuse" I am going to sit tight for a year.

And... that is your CHOICE!

[Scrapper]

GP, I'd be interested to hear how it went with your agent if you want to share.

Ditto!

[GPnative]

Overall it was a good meeting and it did clear up some confusion. I would encourage people to meet with an agent to help understand and navigate all the details and plans that pertain to their circumstances. Having said that, There is a decent well rounded policy (MODA, previously ODS) with several positive improvements over our current policy, but it comes with a price, an increase to our premiums of about $175/mo over what we currently pay. Which for us would be a tough increase to our monthly budget. If we opted for more of a catastrophic policy we could save money but that's not really going to work for our needs.

Of course most people who qualify will sign up through coveroregon and receive their subsidy. Which when you factor that in, sure, it definitely lowers your monthly premium and he gave us an estimate of what ours would be, however for my own personal reasons I will not sign up for coverage through coveroregon and that will come at a great financial cost because that means we will not receive the subsidy which would reduce our premiums. And even for those who take the subsidy, I don't know how some on minimum wage incomes are going to afford to pay their portion, it's not as if the monthly premiums are going to be free. The plans via coveroregon are the exact same plans being offered direct from the insurance companies, CO is just the vehicle to get the subsidy.

I think for us we are going to hold tight for a year with our current plan as it's already factored into our monthly budget and then we will watch and see how things shake out over the coming months.

[MarkM]

Thanks for the honest report, GP. Sounds like you had a good meeting. Perhaps if you pencil out your true health care costs over a year, including all your new premiums, deductibles and copays, the total bill will look better than you think. I can appreciate your principled stand again taking a subsidy but at the end of the day you're only hurting yourself and your family.

[GPnative]

Thanks for the honest report, GP. Sounds like you had a good meeting. Perhaps if you pencil out your true health care costs over a year, including all your new premiums, deductibles and copays, the total bill will look better than you think. I can appreciate your principled stand again taking a subsidy but at the end of the day you're only hurting yourself and your family.

Thanks Mark, while it is a principled stand to some degree, I do have others reasons that I do not want to share on a public forum. I realize it is indeed a financial hurt to the pocket book, but the decision is actually to protect my children and I'll have to leave it at that.

[MarkM]

Thanks for the honest report, GP. Sounds like you had a good meeting. Perhaps if you pencil out your true health care costs over a year, including all your new premiums, deductibles and copays, the total bill will look better than you think. I can appreciate your principled stand again taking a subsidy but at the end of the day you're only hurting yourself and your family.

Thanks Mark, while it is a principled stand to some degree, I do have others reasons that I do not want to share on a public forum. I realize it is indeed a financial hurt to the pocket book, but the decision is actually to protect my children and I'll have to leave it at that.

Fair enough. Thanks for sharing your experience.