WWL>Topics>>11-18 2:10pm Angela, Affordable Healthcare

11-18 2:10pm Angela, Affordable Healthcare

Nov 18, 2013|

Could President Obama’s “fix” put a bigger break in the foundation of Obamacare? How will it impact the insurance industry…people whose insurance was dropped…and those of us insured through large companies? The reaction from insurers and lawmakers hasn’t been good. Some are concerned about the potential impact on the overall stability of our health insurance market. Are you? Angela was joined by Patrick Taylor, president of Benefit Planning Group; Gabe Janusa, President of Demand Insurance & Benefits.

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Automatically Generated Transcript (may not be 100% accurate)

-- well known insurance expert said recently what's happening with the Affordable Care Act. Is the most complex and confusing thing he has worked with in thirty years in the insurance business. For the average Joseph or marry it's also the most confusing thing we've had to face. The more I read about the ever changing health care act better known as Obama care the more I find my eyes rolling back in my hand. Today we're gonna spend the next two hours figuring out what we do know. What we need to now and what decisions need to be made and win. That well known insurance expert I just mentioned is our very special guest today Patrick Taylor president of benefit planning group. For the next hour he's going to help us dissect the new health plan as we know it. In the next hour will be joined by another expert gave engineers. President of demand insurance and benefits. And in the last half hour state insurance commissioner Jim O'Donnell and join us by phone. So whether you tried to get on the government's website to sign up for health care. Whether you've received a letter from your individual insurance company that your insurance has been canceled for the next year. Where do you work for a company with fewer than fifteen employees it's deciding whether to offer insurance at all. Sending you to be Affordable Care Act system you need to stay tuned because we're gonna try and address everything in the next two hours. And please feel very comfortable calling us the number is 260187. -- Or 866889087. Patrick Taylor. I think it was like six weeks ago UN gave -- others were sitting here it was the first day of the Affordable Care Act. And that's when all the computer shut him. Then. So we can kind of get over that crisis a little bit and now all of a sudden. People start getting letters thinking that they're not going to be able to keep their insurance. There individual contracts and so the president comes out late last week -- -- we're gonna fix that. And we're going to. Ask. That the insurance companies allow them to keep one more year and that's sort of where we are. That's correct are so we have so much to talk about almost don't know where to begin. I think something I would like to know just my own curiosity. The individual insurance contracts. Means is not. People who work for companies that this is the individuals who receive the letters of cancellation. It was because their insurance did not meet the standards. Of the Affordable Care Act correct that is correct. What were they talking about what standards. Well first volley in let me go back to something from it seems like it was about a year ago that we had a meeting. Things are much longer than six weeks ago so many things have changed when all of us have aged dramatically and sexually feels like you look great thank you so do you. On the and thank you for embryonic into I appreciate that. Most of the insurance policies that were canceled. Were policies that had extremely high deductibles. They were in hospital only -- policies that basically major benefits only if you were admitted into hospital with some out of hospital. Coverages. On some of those were hospital indemnity policies which were never found. Constructed it to represent or to be as true traditional major medical insurance policies they were just hospital indemnity policies that would cover you so many dollars a day in a hospital. Pay you so much for surgery and so forth. On there are also policies through the Louisiana guaranty association the Louisiana. Health insurance plan. -- Were issued to individuals that couldn't buy health insurance and many of those individuals. Had lost their jobs they've exhausted come over benefits and there was no out nowhere else for them to go. So they would go to Louisiana health plan -- like the Citizens Insurance for. Her home that this -- As for people who need help -- that's correct and and once arm you know Obama -- and -- we know that that that's -- -- 11 there's really no reason for the Louisiana health plan. To be there any longer on all of my clients that went to Louisiana health plan all the ones that I've spoken to so far. We'll actually get a better deal with -- obamacare their premiums are going to be less. On in most cases. On the benefits are definitely much better than what they were getting on the old plan so there is an advantage to some of those policies being canceled. You know however there's the other side of the coin where. I was discussing. His target a gentleman's health insurance plan and the other evening. And this man is fairly wealthy -- east does very well he's got a 101000 dollar deductible for he and his family. That's all he wants that's all he meets. And his policy is being canceled. We all have a problem with that. Why should he go spend five or 600 dollars more per month to go buy a plan that he doesn't knee. I think that's what we need to talk about that and greatly on this subject had received an email. From a man who said I got my letter from my private health insurance. It gives me two options I can keep my plan as is for another year and slight premium increase of about 20% from 333. Dollars a month to 395. I can opt out for the affordable care compliant policy with all the mandated benefits the monthly premium beginning January 1 of 2013 would be. 812. Dollars and 58 cents. The deductibles for both this is interesting and 6000 dollars -- same deductible significantly more. I -- only myself male nonsmoker aged 56 and a daughter age 23. Neither of us have any preexisting illnesses or issues. My first response to that is remember the famous words. Obamacare will be cheaper. And you can keep your plan period. Obviously that's not the case. First of all his insurance for the in his insurance companies giving him an option they're saying hey. We're gonna allow you to let's say that policy renews in June June or July of next year. Instead of it you renewing in June or July they're saying let's renew it in December. -- -- premium now. However in December of next year. That's when you're going to start -- that it had 800 dollars a month so they're just extending it for another year. On what's on the administration did on Friday. Is our -- the proposed legislation on Friday it was basically the same thing. They're saying. We're not gonna cancel your policy at least for the next year. They're just sticks that extending it out for you and it's really asking the insurance companies. It is a demanding insurance companies -- just asking OK if you cancel his policies would you just writing another letter saying you're not cancel. And for another year. That's right on it in think about this. These insurance companies have spent tens and tens of millions of dollars and hundreds and hundreds of employees. It's the first several years. To put these plans in place my god they didn't even have the rates for these plans until August and September of this year. And now the administration is coming back insane hate. By the -- let's go back to start one. Let's tell your actuaries to go ahead and accept these plants are now they have to go back to look at their rates and see how that's going to that affect their rates. And on tiny they're already states that are saying no we're not going to do that there are three or four owners on. I've got a list a lookup in a -- that a party said we're not going to make those changes. Patrick Taylor is our guest of of several guess that's going to be joining us in the next two hours were talking about insurance for talking about what's happening. With the Affordable Care Act and Patrick Taylor really is guiding us through. We do have a caller on -- I have a question for mr. Taylor yes. He had not been back attitude about -- not deductible and insurance company. You can -- an option well don't have a different options in church that I'm a different insurance that would give him Whitney law. He can go on healthcare dot gov home once it's opera operating and he can search for a plan on. For July or why I mean -- for January 1 however his insurance companies are given him an option. Which that option is to keep the current plan for the next twelve months. Right but it is not say it instead at the end of options you give. Maybe it seemed like all that all he can do it except what -- want to do ought not been you know. No sir he hit it. He can go on -- go online or he can go offline. Because he wouldn't qualify for subsidies that would may make a difference -- -- he would need to go online so he would go offline and shop other carriers however. He knows that as 011 all of the other carrier rates are more expensive because he has a non grandfather plan. So if he gets -- heat seeking keep this plan for one more year his rate will be cheaper. But then he knows that in one year from now that plans canceled it's going to go up in price. Okay good -- so much to call a Jack thank a -- Jack. Jackson's been chilling hello Ali you didn't. And the data in the oh thank you very much and still have a million dollars Connecticut camp cook. Will the health care that. And the kind of an effect. On. People felt that that -- Or any of the -- PS they'll. That that's actually Medicare -- it does not have an effect not a direct effect as far as rates and premiums. Com for those people over age 65 at this point. And not a negative effect any kind of an effect. Not really. Not at this point. Jack thank you for calling him a message of hope that give me another one million dollars. In problem he -- -- -- okay. Let's talk about them you Patrick let's talk about the numbers. It's now been cranking up and people have gotten through on the computer and so people are signing. They are they are from the department of HH HHS. More than a 106000. Members have selected health plans. Less than 27% of those people have actually use the federal health care dot gov site to select a plan. Keep in mine when the when HHS says that someone has selected a plan that doesn't mean that they if purchased it. That just means that they've put it in their grocery cart OK okay. We really don't know to -- how many people have actually purchase plans I know in the Saint -- of Louisiana only 387. People purchase plans in Louisiana in 87 people that's a rash that is. So other storm putting in the cart may just say -- interest and that phenomenal look around yes. 387. People only three and eighty cent. And the numbers are staggering 206000. People that have gone on health care dot gov. In quite a -- in input in the group are in their cart planes. However 396000. How to apply for Medicaid. So the numbers are staggering as far as the number of people going to Medicaid vs the number of people that are actually shopping for plan. Because they know that they are eligible for Medicaid and just that's the easiest route. Before and well because statements will keep in mind win and all of this started. One end of pigs disturbing numbers was was that the number of -- Huge number of people that were eligible for Medicaid. That never signed up for Medicare so and Health Care Reform was enacted they knew that that would force all these people to sign up for Medicare. So we anticipate seeing tens and tens of millions of people sign up for Medicaid. Over the next couple years that have not been on Medicaid in the past. And that is going to cost a lot of money exactly OK so. You know my question would be. If that was the case why haven't they just signed up for Medicaid -- before. It's interesting because they didn't have to because they need go to doctor. So they weren't signing up for Medicaid. And that that's what was one of the things that kind of puzzled all of us in the early stages of all of this. Why not leave those alone if they don't need because sign up for Medicaid even though there are eligible for it why force them to go do it. And that's that's because it's the fault that they were in an accident broke both her legs than they would sign up they would sign up meant Medicaid at the hospital that point. What is the difference between signing up for Medicaid. And going through a computer system or not the computer system if in fact you were going to get subsidized. Okay first of all. When you go on health care -- let's talk about the process and they're going to -- you. A lot of their lives there and ask for a lot of your information to a name address those -- number date of birth first born child the whole bit. You're going to put all that information in the system they're going to create a profile for you then you're going to give them all of your income information. That will determine whether an -- eligible for a subsidy and those people that are not eligible for a subsidy because their under the federal poverty level of let's say for single person 111470. Dollars. Then those people don't even go on Medicaid the state Louisiana because we didn't expand Medicaid. So for those people under that FPL in Louisiana they're going to go to charity hospital for the most part there are some exceptions. If they're over a 100% and a federal poverty level and under 400% of the federal poverty level. Then they will qualify for a subsidy. Those are the people they need to go to health care dugout and -- If you do not believe if you qualify for subsidies there's no reason to go on health care -- out and give them all of your personal identifying information. That's -- I am very very important point. It's a very important points and if you don't think you're eligible for a subsidy. Go what route. Then at that point you please contact an agent. Go to the insurance companies you can go on multiple web sites there's a -- Kaiser Foundation website there's our our web site. Which is Louisiana health plans dot net. And we have a subsidy calculator right there that will tell you whether or not you qualify for a subsidy without putting all of your personal identifying information -- -- well this is a very important chuck are you there from New Orleans. But yeah I have a question about how our secure their website is how much personal information -- should really -- To that website -- -- were going to be kept state. Check if I answered that I've I'll be afraid that I wouldn't be telling you the truth. And we don't know how secure the website is that's what we're all afraid of the -- -- that question. He doesn't it doesn't like -- -- the web site up and they've been so I mean. -- -- -- -- -- -- Even if you have 600 million dollars. Can't think the UN is definitely project but not you you both bring up during important points but if if you can avoided as what you're saying do but -- not just be aware that -- giving out a lot of very personal information. That's right thank you so much -- Greg from Metairie. That. Yeah a lot of people -- -- India has navigated. Navigated transition given the basic hospital plan and you know none of those people inning and undergo background checks. So anybody that goes through the people ought to go to a I'm I'm an insurance agent that because it is Obama saying I'm also doing identity theft protection. Through one of the best companies. Just because -- information currently. Is way out of this race I mean everybody's gonna get and -- like an actor. So -- Obama kind of through their agents on the -- in -- way because. You know he's -- going on crime on. Whether they've really needed insurance agency got him. Like because there's twenty new policy. That it that are in their healthcare fall so that alone you know they need help. Louisiana out there outward. So they -- compare rates but. Information protected. And we believe we have to be multiple -- Bob and insurer. You know and and navigated. And it's going on -- -- They have no protections and and then not get the best thing. Greg I really appreciate this and we are joined by Patrick Taylor and very shortly by -- genius. To insurance experts discussing. What we can learn from a very complicated situation and that is the new affordable health care act every day we're learning something different can you imagine if you're in the business. As they are having to learn something every day. I guess but let's start with. How do I know you find eligible for a subsidy in you you have given the figures if you're a 100% of this reported a percent of that. But it's still that's confused. Go to the one on one -- the one of the subsidy calculators on line you can go to our website LA health plans dot net. We have a subsidy calculator on there. You can double check that subsidy with a -- cross subsidy that they have on line and then there's -- -- Kaiser Foundation. I'm subsidy there all the saint. You put in year the number of people -- your family your income the state you live in that zip code. On and down the that the ages of the people on the family -- to give you an example. They were dealing with a 25 year old doesn't matter whether or not it's male or female make -- 20000 dollars a year. That person is at a 174%. Of the federal poverty level which would give them approximately an 18100 dollar a year subsidy. Keep in mind people get confused as to what that subsidy is like to call -- a premium reduction. It is an advance tax credit you can't take it as a tax credit down the road but most people. Will say reduce my premium by that amount of money so that means it's funny that 25 year old would have a reduction. A 150 dollars a month and their insurance for and that's significant that is that is. On so that at that point that person knows that you keep that person get a subsidy let's go to the exchange. And let's find out how much the subsidy is along with the plan. Deviant ideas as far as what plan costs 25 year old once again it doesn't manners matter the gender they can get a policy for that policy co pay policy -- -- 500 dollar deductible for about 293 dollars a month so they're gonna spend about a 143 dollars a month. Well that's that's -- so yeah. I -- from really cutting in half Newton. They just go ahead but what if somebody -- 35 years old married. No kids free to people. I haven't done that calculation yet but I did do a family of -- husband wife and child income of 50000 dollars a year. The subsidy would be right at about 5638. Dollars a year. The premium on that family would range somewhere in the neighborhood of about. 80900. Dollars a month. So they're still going to spend a few hundred dollars a month for the plant. We are now joined in so very grateful to be a genius. We're delighted that you're here too because. Two great minds. How generous to both far and hope that people are still interested in calling with any questions you might have. It's 2601878668890870. And we're just trying to untenable so that we better now and some some thought you had. Give me question America okay that's cheapening it today where we were really talking about. For -- really how few people have signed up I think that's very surprising. And the greater number at least in Louisiana who had chosen to go to Medicaid. Not something that will biggest. We often hear that governor Jindal does not want to expand the Medicaid. But in fact it's going to be expanded correct because a number of people signed up or what was. What I think the numbers that we're reading or getting from them for the federal government is. Nationally what's actually going on. And and we hear a lot more people enrolling in Medicaid actually -- health care and I gov. You know as we don't know in Louisiana we did not expand Medicaid so. Those people are not really included those figures because very difficult to qualify for Medicaid these days that is when he entity. It's the Olympics and the but the poverty level or below if you're actually not working or 25% of federal poverty level. And working and -- to actually qualifying. Seller rise between 251%. Of federal poverty level. -- -- -- -- Correct area unless your child or pregnant mom wanna track and it's even become harder to. Receive Medicaid if you are one of those as well that's right and she's in an adjustment for a pregnant mothers out there and it was -- Iverson and the poverty level now it's a 133 beginning twenty. Fourteen. Speaking of pregnancy. -- one of the questions I -- was. I keep hearing on being forced. To take coverage on might not need an example being 55 year old woman doesn't need the maternity coverage. A 55 year old pregnant. I mean -- safety -- a woman. Buying health insurance that may have a maternity benefit attached it actual wearily isn't paying that a few dollars further battles -- benefit that's why. You see the thirty year old and a twenty year or Euro rates. Be what they are in comparison to a 5255. -- Africa's most group planned in the small group the marsh -- market the women at all. Oakland 45 years of age even at their maternity coverage already actually Cilic fort. So it's common viewpoint but -- under the disagreement with a lot of folks is you know I'll -- -- -- maternity coverage and that's that's discrepancy. But the fact is that even those few dollars as helping to pay for everybody's coverage related spread the risk. Okay across the -- -- again joined by Patrick Taylor and -- -- of two experts in the insurance world I'm so thrilled some of your calling and I'd like. To take those calls let's start with them. -- Good afternoon and Angela in the single father self employed with. To two dollars. What might look at that. Well depends on if you qualify for a tax credit knocked out. Now even you self employed by have a lot of business deductions in which he is cigarette as what did you modified adjusted gross income. For your household usually based on what your actual tax attorney your -- so you mentioned you have yourself -- -- two kids if you not -- willed and have a household of three. And then you finally get modified adjusted gross income minutes. For most Americans he -- -- on his almost the same as a modified adjusted gross income. North and things of its calculations the man to make -- maybe it reached -- to your tax professional figure out what that exact number is. But down. I'm at around eight out on K for the household. Are. I'm fairly make it. Okay so I'm. And you would be below the poverty level so you would not qualify for tax credit on the exchanges -- the house for the three. Annual incomes below 191530. Dollars though. You're actually one of those folks fall between the cracks -- thank you -- march. Well well well -- I have I have a question for you. What is your gross income before your deductions. About there. Well if I can just throw this out and there may be you don't need to take so many deductions. -- you need to figure out what that magical number is. And the have your testing it grossing come stay at that number -- as tragic as you know remember that that the number that the government wants is your estimated. Income for 2014 you know -- 2014 tax returns April 152015. So this is really the perfect time where you can start planning which -- comics that's going to be. All 2014 to make sure you qualify for that tax credit we end what it. And the bottom line is he -- always with like you to report -- -- -- through advocating here. Okay so in the mean -- barely make it right now and then after he would just pay more taxes on that. Just to allow so I get a tax deduction. Well I don't. I'm glad that the tax credit to -- and you may actually give we have to do the calculation but it may be so significant that it may actually be worth paying more. Or showing war income on your return to qualify for this tax credit. Not just not to -- Sense to me though you well it's like the Coca pie -- their street fifteen he cut in its form that you are part. And that's what the government illegitimate they are dying out and it. -- some pitcher -- -- important to remember is as a self employed individual you're going to be able to write off the cost of your health insurance. So you actually may not pay any more money in taxes and -- probably get a substantial subsidy. This is why it is so important set down and talk to an agent. Because we know how to do the math you have to do the planning going forward you can no longer just sit back. And think that it's just going to be okay. All I know it's not going to be okay China and everything about the rules -- by the book there is just like a year insurers won't change and it has changed -- people that they cannot. Keep their insurance that bad. I mean yeah I'll come back on Mac -- so well we're working on this I mean there's there's really messed -- manhunt you know tell a -- to do it as a single prop that I'll. I'll admit I'm like RC and -- Very dark in Yemen has talked tough on me is what you -- now. Right now Cain probably. Just for me and my kids around. I wanna say 800 a month. -- -- and I'm gonna I'm going to do something -- I'm not sure that I should do -- give you my telephone number engaging Gaby his telephone number please give us a call we need to set off fair. And go over the math on this because I think you're going to be pleasantly surprised I think you'll be able to get enough for the subsidy offset that my number's 8333434. Gave final 43 and. -- Final 4390060. Okay. I -- gunning we're talking about the affordable health health care act and we got another caller Craig. Yet. What are you up. Situation. -- -- -- -- -- -- Not the one. -- -- I'll buy insurance through whatever help light work war. Let's hear you. Not laid off. And we went on Oprah ten Coke or about October. You. One out early next here. And you -- existing condition. I have a pretty good condition. Try to get insurance Ohio. What don't put a white. I'm quite -- -- we -- completely off and this old. No one. Predicted that. But now this and racing because on fighting the clock here. The bottom line -- isn't this a -- care gonna help someone like absolutely yes there is no need for co guerrilla anymore four. So what people individuals as of 11 you can get a health insurance policy that he medical questions you know what we're gonna hate to do this called back if you need to. But we've got to go it's a 1000 dollar holiday cash contest the code word this hour is contract CO ON TR ACC. And that code word -- WL dot com slash cache or click on the contest link on our web site. For your chance to win 1000 dollars nationwide. And it's just a simple to enter whether you're at your office computer surfing at home or on your Smartphone or tablet. You can win anywhere listen for the next code word right before the top our news at 6 PM. Good luck from Smart radio intercom and have a WA.