General Discussion
In reply to the discussion: Just got my ACA premium notice for next year [View all]gmb92
(57 posts)There is a lot of it here, and many who are not taking a negative tone.
If you go to a Republican site they will tell you you're screwed and ObamaCare stinks and this is more proof, and you shouldn't be getting subsidies anyways. Nothing helpful at all or any attempt to get full information.
Here at least you're getting honest questions and helpful advice among some, the take-home messages being:
1. The letter does not calculate your net premium based on your 2015 subsidy amount, but just repeats the 2014 amount, so it almost certainly overestimates your net cost, as subsidies are indexed to plans in your marketplace.
2. There are many other options on the marketplace, so if your current plan is on the high side, you can find other plans. The websites are even functioning this year out of the gate. I remember all the gloom and doom about that a year ago.
I think the insurance company is making a mistake by sending out such a notice without taking into consideration the likely increase in your subsidy amount that is indexed to other plans in your marketplace. Since they don't know your current income or what the marketplace plans are pricing at, there's not a way for them to calculate your subsidy, but they should make that more clear. I'm guessing their increase is also too high since average gross premium rates are closer to 5%, although that is nationally-averaged, and your market might be higher - but if so, the subsidy amount will be higher as well.
You're right that people will take these letters, blast them among the media, and falsely claim that ObamaCare is quadrupling your premiums. That's another reason why this thread is important, as it cuts through the spin eventually.