Healthcare.gov went live this morning.
There is an unusual situation in North Dakota right now. One of the insurers, Sanford Health, did not file the correct rates with the Center for Medicare and Medicaid Services (CMS). CMS is currently suppressing Sanford plans in North Dakota until a new file can be prepared and loaded.
We saw this last year in New Mexico when Christus made an error in their file loads. The pragmatic implication is that there will be two sets of subsidy calculations performed. The first one goes from now until the corrected file is loaded. These subsidies will be based on the Blue Cross and Blue Shield of North Dakota two Silver plans. The benchmark is higher but the Silver spread is smaller than the second set of subsidy calculations. These calculations will go into effect when the revised rates are loaded. At that point, Sanford will have the Silver benchmark at a lower level.
Pragmatically, if you live in North Dakota and know that you want a Blue Cross and Blue Shield plan or a Medica plan and you are getting subsidized, go look now. Your rates are going to be cheaper.
If you know that you just need minimal hit by a meteor coverage with a Bronze plan, go shop now. Your rates will be lower.
If you know that you need/want a Sanford plan, then you need to wait.
If you qualify for a CSR silver plan and you don’t care which insurer you choose, then wait as the cheapest CSR Silver plan will be cheaper in the near future.
This is an odd little edge case that can work in your favor.
Kelly
Off topic but it is about an error:
The IRS began 2018 with a family HSA contribution limit of $6900. In March some nitpicker decided it really should be $6850 and anyone that had already deposited $6900 must withdraw $50 and be sure to include that $50 in your taxable income. In April the IRS decided nevermind, go with $6900. So depending on when you looked you the into IRS rule you may be able to add $50 to this year’s account.
https://www.irs.gov/forms-pubs/2018-hsa-contribution-limit-for-individuals-with-family-hdhp-coverage
Mai Naem mobile
I had a quick glance at the Maricopa county ones in AZ on Tuesday. The premiums are a little lower but I believe the annual deductible is higher. More importantly there were way more plans. There’s even Cigna in there which I haven’t seen since the first year of Obamacare. Also I saw Banner Hospitals in the providers in the cheap plans which I haven’t seen before.
Anyhow David I noticed there were Oscar plans in there Is that the same Oscar that the Kushners were involved in or is this a different Oscar? I thought the Kushner Oscsr was more like a navigating service not an insurance plan.
Kelly
and the 2019 family HSA limit is $7000.
https://www.irs.gov/pub/irs-drop/rp-18-30.pdf
piratedan
I’m almost positive that this a complete non-issue because no one in North Dakota has a valid street address, so if they can’t vote, they won’t even qualify for healthcare…. //////////////
David Anderson
@Mai Naem mobile: same Oscar.
They are an insurer.
lowtechcyclist
Not quite like “bank error in your favor,” but who knows, it might save someone $200.