Momsense has some good news:
Also, I have some news to report on dealing with life changes and exchange policies. I recently reported a major increase in salary (yay me!) which meant a change in the subsidy amount. The coverage will be seamless, I will just pay a lot more per month. It is manageable and still about $1,000 less than I was paying per month before I had to drop my coverage in the aftermath of the fustercluck brought to us by Wall Street and the Republicans.
Obamacare has won. And that’s why Secretary of Health and Human Services Kathleen Sebelius can resign.
Both of these are major changes that healthcare.gov and the state level exchanges can help people deal with changes. In MomSense’s good news, she had a major change in income. She had two choices. The first was what she did, go online, notify the Exchange that her income for the rest of 2014 was going to be much higher than projected. The Exchange took the new income into consideration and reduced her subsidy. The other choice was to not report the new projected income, report it on next year’s tax return and see her tax bill go up substantially as the IRS claws back the overly generous subsidy.
Secretary Sebelius will soon experience a job loss. She will be losing her employer sponsored healthcare shortly. She has two options. The first is to go on Medicare as her exclusive insurance as she is 66 and qualified by age. The second is to COBRA her policy. If she was two years younger, she would have had a third option. She could have gone on the Exchange for an individual policy to bridge her to Medicare eligibility.
These are just two of the many qualifying events that can see people add or change their Exchange based insurnace outside of the normal open enrollment. Qualifying events are major life changes such as marriages, divorces, births, adoptions and deaths of family members, significant employment changes and moving primary residences. People with major qualifying events have thirty days from the event to go on the Exchange, update their information and potentially make a new selection of a new plan that accomodates their new situation better.