From the AP
If you have health insurance on your job, you probably don’t give much thought to each year’s renewal. But make the same assumption in one of the new health law plans, and it could lead to costly surprises.
Insurance exchange customers who opt for convenience by automatically renewing their coverage for 2015 are likely to receive dated and inaccurate financial aid amounts from the government, say industry officials, advocates and other experts.
If those amounts are too low, consumers could get sticker shock over their new premiums. Too high, and they’ll owe the tax man later.
It could be a new twist on an old public relations headache for the White House: You keep the health plan you like but get billed way more.
Here’s the issue, in a nutshell:
To streamline next year’s open enrollment season, the Health and Human Services Department recently proposed offering automatic renewal to 8 million consumers who are already signed up.
Got to love Obamacare: always more good news for the consumer.