Three weeks into open enrollment through federal and state-run health care exchanges, NAIFA has begun getting field reports from members about how the marketplaces are functioning and how advisors are helping clients deal with the new systems.
What is your experience with the exchanges? How are you helping clients and the public adjust to changes brought by the Affordable Care Act? Tell us your experience by submitting a comment to this blog post or email Mark Briscoe at mbriscoe@naifa.org
"Most of the complaints I have heard have been about accessing the web portal. We were disappointed to learn that as brokers registered through CMS to sell on the exchanges that we can’t run quotes for individuals. The individual must create an account, then go on, run quotes and at that point we can advise them. I think as registered brokers, we should be able to access the system to run quotes for individuals."
—John Seltzer, Pennsylvania (federally facilitated exchange)
"I am looking forward to six months from now when we are all saying 'remember when it was such a mess? and now it works fine.' In the interim we are simply trying to evaluate plans and are frustrated because the regulators have not given final approval to some of our plans. My first client is an employee from a primary care medical office who has always waived out of the group medical plan because she could not afford the premium. In running her Exchange quote, she is in the 'sweet spot' eligible for Enhanced Silver at a premium of about $70 monthly. She is thrilled! I could see a physical sense of relief for her when I explained the benefits and premiums. We will see how the processing goes. Conversely I have a struggling contractor in Tahoe who is devastated by the new rating structure because his children are older and the rates will skyrocket. I am still working on a solution for him."
—Margaret Beck, California (state-operated exchange)
"Cover Oregon hasn’t been smooth and hasn’t fully functioned, but after the first week, we’ve been able to make it work. I’ve enrolled four people so far, and each has been a very positive experience. My agents and myself are helping a lot of people!
"My first couple, midlife small business owners barely making it and unable to afford commercial insurance, will find a new existence after January first with access to health care as they can now purchase a low-deductible, low-out-of-pocket plan and with subsidies pay $46 each per month. And they plan to work harder to avoid the Oregon Health Plan, Oregon’s Medicaid, a heavily managed care plan with restrictive coverage.
"Those who I’ve seen have ended up satisfied with the new system. Some I’ve only talked to on the phone—one is currently paying $540/month and can only find plans for over $1,000/month—aren’t too happy. I’ve heard younger people have similar stories. Employers too—small employers in this state are able to go employee-only, allowing dependents to enroll in the exchange and receive any tax credits they may be eligible for. For large employers, it’s not so fun. They MUST offer coverage to dependents, removing eligibility for the tax credits. Many larger employers have to consider paying for dependents or dropping coverage and paying next year’s penalty."
—Kelsey Wood, Oregon (state-operated exchange)
