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4 out of 5 Ocare sign ups require subsidies

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  • cadmancadman Home of the Gators Posts: 30,638 AG
    Parkerboy wrote: »
    And that raises an extremely important question that this adminstration refuses to answer but will have to sooner or later. How many who have enrolled have actually made a payment? I suspect the adminstration is going to stonewall this question until after the midterm elections in an attempt to save as many democratic seats as possible. Another question which is begging is, how many of those enrolled, and paying, are the young people so vial to the success of the program?

    There should be an answer in May. Considering the time to process payments and such. It is then the final numbers will come out. But expect about 90% to 95% to pay and complete the process. Once you select the policy, the insurance company you have chosen will send you a bill to pay if you don't pay online. Since the company bills direct it makes reconciliation a little more difficult.

    Mini Mart Magnate

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  • rain dograin dog Posts: 3,245 Captain
    cadman wrote: »
    the insurance company you have chosen will send you a bill

    oh that will be interesting. as if the subsidized folks will actually pay a bill. then i suppose you sic the IRS soldiers on them right?
  • WraithWraith Posts: 1,653 Captain
    cadman wrote: »
    There should be an answer in May. Considering the time to process payments and such. It is then the final numbers will come out. But expect about 90% to 95% to pay and complete the process. Once you select the policy, the insurance company you have chosen will send you a bill to pay if you don't pay online. Since the company bills direct it makes reconciliation a little more difficult.

    'Time it takes to Process Payments'? 'Since the company bills direct it makes reconciliation a little more difficult.'?
    '90% to 95% to Pay'?

    Um................ Wow, just........... Wow.......................:banghead
    SLOP, (Standard Liberal Operating Procedure).
  • JBondJBond Posts: 5,039 Officer
    Which lie was the biggest?

    “If you already have health insurance, the only thing that will change for you under this plan is the amount of money you will spend on premiums. That will be less.”

    "No matter how we reform health care, we will keep this promise: if you like your doctor, you will be able to keep your doctor. Period.”
  • cadmancadman Home of the Gators Posts: 30,638 AG
    Wraith wrote: »
    'Time it takes to Process Payments'? 'Since the company bills direct it makes reconciliation a little more difficult.'?
    '90% to 95% to Pay'?

    Um................ Wow, just........... Wow.......................:banghead

    Let me do this S-l-o-w-l-e-y for you and a few others. I actually helped an employee buy a plan on the exchange who qualified for a subsidy.

    You actually electronically sign the contract online and are taken to an option screen to pay the bill then or let the company bill you, Not sure why anyone would go through that entire process and not pay. she chose to let the company bill her. she signed up on November 30th or so. she got the bill around December 14th and was told it had to be paid before the December 24th deadline to be covered January 1st. She paid it online a few days before the deadline,

    Now assume a million others like her and you can see why it would take 30 days to compile the data, assuming the insurance companies actually report back who has paid. Not sure if they are required to or not. It would seem like they would be, but even the, they would probably do it at month end.

    That is why I state we will not have any final numbers until May. Amazingly logical isn't it.

    Mini Mart Magnate

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  • FinfinderFinfinder Posts: 9,999 Admiral
    JBond wrote: »
    Which lie was the biggest?

    “If you already have health insurance, the only thing that will change for you under this plan is the amount of money you will spend on premiums. That will be less.”

    "No matter how we reform health care, we will keep this promise: if you like your doctor, you will be able to keep your doctor. Period.”

    reducing healthcare cost by $2500 per person :blahblah
  • FinfinderFinfinder Posts: 9,999 Admiral
    cadman wrote: »
    Let me do this S-l-o-w-l-e-y for you and a few others. I actually helped an employee buy a plan on the exchange who qualified for a subsidy.

    You actually electronically sign the contract online and are taken to an option screen to pay the bill then or let the company bill you, Not sure why anyone would go through that entire process and not pay. she chose to let the company bill her. she signed up on November 30th or so. she got the bill around December 14th and was told it had to be paid before the December 24th deadline to be covered January 1st. She paid it online a few days before the deadline,

    Now assume a million others like her and you can see why it would take 30 days to compile the data, assuming the insurance companies actually report back who has paid. Not sure if they are required to or not. It would seem like they would be, but even the, they would probably do it at month end.

    That is why I state we will not have any final numbers until May. Amazingly logical isn't it.

    so you are a crappy greedy employer who doesn't provide healthcare as a benefit ?
  • JBondJBond Posts: 5,039 Officer
    Cadman, that makes no sense. The site opened in October. How about the numbers up till now?
  • navigator2navigator2 Posts: 22,499 AG
    JBond wrote: »
    Cadman, that makes no sense. The site opened in October. How about the numbers up till now?

    The site was intentionally broken sir. They were trying to figure out how to piggyback democrat registration materials to the participants before rolling it out. :grin
    [SIGPIC][/SIGPIC]
  • cadmancadman Home of the Gators Posts: 30,638 AG
    Finfinder wrote: »
    so you are a crappy greedy employer who doesn't provide healthcare as a benefit ?

    Yes, I am.

    Mini Mart Magnate

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  • JBondJBond Posts: 5,039 Officer
    cadman wrote: »
    Yes, I am.

    :)
    I am also a greedy business owner. I do not provide insurance. What I do is pay them and additional $500 a month to purchase their own coverage. What they do with it is up to them.
  • cadmancadman Home of the Gators Posts: 30,638 AG
    JBond wrote: »
    Cadman, that makes no sense. The site opened in October. How about the numbers up till now?

    What makes no sense?

    If you are talking about paid numbers they would change daily and not be reflective of the total signed up. It appears by most studies, a little over half have paid that signed up, but due to the delay I mentioned above that would seem normal. It takes a little time to go from being signed up to having paid a premium.

    To know the exact number of completed and paid applications will take until May.

    Suppose you ran a website that sold a product for the Widget company. People came to your site and picked out their widget. They then could pay you or be sent a bill by the Widget Company and pay it. First month orders are 100 widgets, 40 people pay you and 60 wait to be billed. Next month you have orders for 300 and 140 pay you and the rest get billed. the Widget Co. sends you a report saying 50 of the 60 people they billed paid for their widget and got them.

    Now if you looked at the raw numbers you would have 400 orders and only 230 people who paid for the product. that is where the reports of only a third to a half have paid. That is why we have to wait until the final numbers come out to know the percent who ordered and paid for the product.

    Mini Mart Magnate

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  • ParkerboyParkerboy Posts: 7,048 Admiral
    cadman wrote: »
    There should be an answer in May. Considering the time to process payments and such. It is then the final numbers will come out. But expect about 90% to 95% to pay and complete the process. Once you select the policy, the insurance company you have chosen will send you a bill to pay if you don't pay online. Since the company bills direct it makes reconciliation a little more difficult.

    It was reported on NPR this morning that the health insurance industry standard is that between 10-20 percent who sign up for health care never make their first payment. Remember, these figures are pre ACA so I expect the percentages to beveven higher.
    Deo Vindice
  • grady30wagrady30wa Posts: 10,161 AG
    Mister-Jr wrote: »
    Tax credits.

    How does the Federal government fund a tax credit for someone who pays no Federal taxes?
    Schadenfreude. November 8, 2016
  • Mister-JrMister-Jr Posts: 27,699 AG
    grady30wa wrote: »
    How does the Federal government fund a tax credit for someone who pays no Federal taxes?

    Medicaid
    Vote for the other candidate
  • grady30wagrady30wa Posts: 10,161 AG
    Mister-Jr wrote: »
    Medicaid

    The government takes money out of medicaid to subsidize a low income person's ACA premium?

    How do you give a tax credit to someone who pays no federal income tax? A credit is something that offsets and outlay.
    Schadenfreude. November 8, 2016
  • Mister-JrMister-Jr Posts: 27,699 AG
    grady30wa wrote: »
    The government takes money out of medicaid to subsidize a low income person's ACA premium?

    How do you give a tax credit to someone who pays no federal income tax? A credit is something that offsets and outlay.

    If you have Medicaid, you’re considered covered under the health care law and don’t have to buy a a health insurance plan.
    Vote for the other candidate
  • cadmancadman Home of the Gators Posts: 30,638 AG
    grady30wa wrote: »
    How does the Federal government fund a tax credit for someone who pays no Federal taxes?

    It will be from the taxes created under the ACA.

    ObamaCare Taxes That Most Likely Won't Directly Affect the Average American

    • 2.3% Tax on Medical Device Manufacturers 2014

    • 10% Tax on Indoor Tanning Services 2014

    • Blue Cross/Blue Shield Tax Hike

    • Excise Tax on Charitable Hospitals which fail to comply with the requirements of ObamaCare

    • Tax on Brand Name Drugs

    • Tax on Health Insurers

    • $500,000 Annual Executive Compensation Limit for Health Insurance Executives

    • Elimination of tax deduction for employer-provided retirement Rx drug coverage in coordination with Medicare Part D

    • Employer Mandate on business with over 50 full-time equivalent employees to provide health insurance to full-time employees. $2000 per employee $3000 if employee uses tax credits to buy insurance on the exchange (marketplace). (pushed back to 2015)

    • Medicare Tax on Investment Income 3.8% over $200k/$250k

    • Medicare Part A Tax increase of .9% over $200k/$250k

    • Employer Reporting of Insurance on W-2 (not a tax)

    • Corporate 1099-MISC Information Reporting (repealed)

    • Codification of the "economic substance doctrine" (not a tax)

    ObamaCare Taxes That (may) Directly Affect the Average American

    • 40% Excise Tax "Cadillac" on high-end Premium Health Insurance Plans 2018

    • An annual $63 fee levied by ObamaCare on all plans (decreased each year until 2017 when pre-existing conditions are eliminated) to help pay for insurance companies covering the costs of high-risk pools.

    • Medicine Cabinet Tax
    Over the counter medicines no longer qualified as medical expenses for flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), health savings accounts (HSAs), and Archer Medical Saving accounts (MSAs).

    • Additional Tax on HSA/MSA Distributions
    Health savings account or an Archer medical savings account, penalties for spending money on non-qualified medical expenses. 10% to 20% in the case of a HSA and from 15% to 20% in the case of a MSA.

    • Medical Deduction Threshold tax increase 2013
    Threshold to deduct medical expenses as an itemized deduction increases to 10% from 7.5%.

    • Individual Mandate (the tax for not purchasing insurance if you can afford it) 2014
    Starting in 2014, anyone not buying "qualifying" health insurance must pay an income tax surtax at a rate of 1% or $95 in 2014 to 2.5% in 2016 on profitable income above the tax threshold. The total penalty amount cannot exceed the national average of the annual premiums of a "bronze level" health insurance plan on ObamaCare exchanges.

    Mini Mart Magnate

    This forum is carbon based lifeform friendly. 

  • SWFL_F1sh0nSWFL_F1sh0n Posts: 17,248 Officer
    grady30wa wrote: »
    How does the Federal government fund a tax credit for someone who pays no Federal taxes?

    Why don't you ask many corporations . . .
  • navigator2navigator2 Posts: 22,499 AG
    Why don't you ask many corporations . . .

    Durrr..........uh, like maybe they didn't have a net profit? We know how badly you hate legitimate deductions. :Spittingcoffee

    Try and keep up. He's talking about the a$$wipe EIC.
    [SIGPIC][/SIGPIC]
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