7 More Ways Your ObamaCare Premium Could Increase for 2015
|(Left) Rep. Dan Lipinski (D-IL Dist.3) is a supporter of ObamaCare|
and has voted to keep ObamaCare over 10-times! Learn more here!
1) Mismatched Data
- Depending on the information they provided to the exchange, some beneficiaries could be at risk of an increase in their monthly premium if they failed to submit additional information to CMS by September 30th.2) Increase in Income
- Beneficiaries are required to report changes in income, family size, residence and a few other circumstances to the exchange within 60 days, and the exchange will then recalculate the amount of subsidy the individual or family is supposed to receive in light of their change in circumstance.3) Another Family Member gets a Job
- The ACA requires that premium and subsidy amounts be determined by household income, rather than individual income.4) Getting Married
- Depending on their respective incomes, the couple could see their premiums increase when their household size increases from one person to two.5) Moving
- The ACA requires states to establish rating areas for the individual and small group market insurance inside and outside of the exchange according to the cost of health care in a particular region. So, if you move to a new city, county, state - your premiums could automatically go up just for moving to that new region.6) Auto-Enrollment in 2015
- If a beneficiary’s plan is still available, but the premium increases by 10 percent, then the beneficiary will be responsible for that additional 10 percent increase out of pocket.7) The Benchmark Plan Changes
- Since the benchmark plan is defined as the second cheapest silver plan available in the exchange, the introduction of a less-expensive silver QHP or the removal of the most affordable silver QHP could alter the appointed silver benchmark plan in an exchange.