Question on Obamacare

I have tried in several different places but cannot get this qustion answered. Maybe someone here knows the answer.

Question: My current individual policy through Anthem BC/BS (a family policy) renews every year July 1st. I get my new rate for the next 12 months, which never changes for those 12 months. My deductible goes by the calendar year. Anyway, Obamacare more fully kicks in January 2014, half way through my policy. I'm hoping for cheaper rates than I am paying now but my real question is when July 1st comes this year in 2013 are they going to charge me the new Obamacare rates starting in July, are they going to make me wait until July of 2014 before giving me Obamacare rates, or are they going to charge me one rate for 6 months and then another rate starting January 2014? They have never changed my rates in the middle of a policy before. Would I be better off renewing the policy in July and then canceling it in January to get a new policy? Nobody anywhere seems to have the answer to this question. Thanks in advance for any advice you can give.

I cannot answer you on Obamacare specifically but I was previously licensed to sell all lines of insurance on the private market and can tell you that in most states, by law, when an insurance policy is going to increase premium you cannot change the rate mid-term, you must pend it to change at renewal. However, if a policy is going to decrease in premium you are allowed to decrease it immediately. This goes for all lines of insurance (although I have heard of auto insurances skirting this). I would not recommend you cancel your policy mid-term because of the people I've read that have had Obamacare rates kick in (I've only heard of a few who have actually implemented it already), their rates have increased several thousand dollars, not decreased. Your rates are not likely to go down, they are likely to increase. :sick: Hope this helps.

Hey Gary! How are ya?

I know nothing about Obamacare. I don't know whether to fear it or look forward to it.

Been doing ok. Life keeps me busy. I think overall Obamacare is going to help me because even if my rates happen to be higher (which they may not) I get a little subsidy over the deal from the government. The subsidies are actually better than you would expect. They're not just for the poor, they extend into the middle class as well. I think young healthy people and smokers are going to wind up being quite unhappy with Obamacare.

I'm happy about benefits that don't benefit me but help other people. Because, we are trying to have a society here. I hope some young healthy people will see their way to that position too.

Gary, I thought I'd take a stab at researching your original question - wow it's complicated. I found Affordable Care Act faq's but there is just mountains of info and nothing I could find directly to your questions. complicated stuff!
Erica

I'm happy about benefits that benefit others, but include me as well. Just got news today that I need more tests due to abnormal blood work and my new C-pap is going to cost $500 because of the deductible. I had different insurance last year and if it hadn't switched to a new provider, I'd have had the C-pap I have now paid for the first week of February.

Between the premium, deductible and co-pays, I can't afford myself. I know, 'be happy you have insurance'. I am.

Erica:

I really appreciate you spending the time to look into my question. I hadn't really expected anyone to do that much. Obamacare seems to be a vague outline where the details get sorted out later. I'm afraid that there are going to be a lot of people who won't be happy with the details after they get sorted out. I am posting a link showing projected health care costs and government subsidies available if anyone is interested. It doesn't answer my question either but is useful nonetheless.

healthreform.kff.org/Subsidycalculator.aspx

I admit that I am totally ignorant/stupid about all of this. I have no idea how this will work. Is it helpful for people on COBRA?

my understanding of how obamacare is going to work is that all americans will now be covered, but even with the 40 or 50 million extra people being covered, your insurane will be cheaper.
i think it has somehing to do with more people having insurance is like buying in bulk, like at costco. plus, the government will be more efficient than private insurers have been.

freckles: That really didn't answer my question. I repectfully disagree with your understanding of how Obamacare works. I believe you have been listening to too much rhetoric. First, all Americans will not be covered, even though it will give millions inusrance who did not have it before. Health insurance MAY be cheaper for those with pre-existing conditions, such as ITP, but, in general, most will see their insurance rates go up, some considerably, such as younger healthy adults and smokers. Subsidies will be available for the middle class but even with those almost everyone will be paying more than they did before. Since when has the government ever been more efficient than private business? The government spends one trillion more dollars per year than what they take in. No private business would even be able to do that because they would have already gone out of business a long time ago. If you click on the link I provided in one of my above posts you will get a rough idea of how much health insurance will cost under Obamacare.

I did go to the link and put in my info. It came up that I would have to pay about half of what I'm paying now. My only concern is what will be covered then as opposed to what is covered now.

I hope you find the answer to your question, Gary.

Even now, I am still so terribly confused on what or if obamacare will cover what i need it to. Being on cobra right now and husbands work insurance costing an arm and a leg doesn't make it an easy decision. Anyone have a link to any articles that may offer advice?

radioflyer- hi- you might want to talk to a counselor that is authorized to answer questions and sign people up. Thats how I got signed up. The California website was very complicated- it made no sense to me. even after I watched the counselor go through it I couldn't get logged on. never did figure out how to compare plans. But the counseling is free and so easy. She showed me all my options and found an excellent plan, then did the enrollment.

I found my counselor through my local health clinic- wherever low-income people go for medical care, thats a good place to find someone.

You'll need to know your family projected income for 2014. They look at tax returns and current paystubs, then estimate from there. You can choose between Kaiser, Anthem Blue Cross and others. I believe the new deadline is March 31? That could be Calif- your state could be different.