Actuarial Outpost
 
Go Back   Actuarial Outpost > Actuarial Discussion Forum > Health - Disability
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions


Reply
 
Thread Tools Display Modes
  #1  
Old 04-02-2013, 06:04 PM
Mr F's Avatar
Mr F Mr F is online now
Member
SOA
 
Join Date: Jun 2009
Posts: 3,005
Default Out-Of-Pocket Maximum Limits in 2014

Does anyone have a source on what the out-of-pocket maximum limits are in 2014? I saw a couple sources that listed $6,645 as the OOP max limit in 2014, but I was of the understanding that it is tied to the HSA out-of-pocket maximum limit which is $6,250 in 2013 and has not yet been announced (to my knowledge) for 2014. I just want to make sure I'm not missing something.

Thank in advance for any help.
Reply With Quote
  #2  
Old 04-02-2013, 06:23 PM
thing's Avatar
thing thing is offline
Member
 
Join Date: Sep 2001
Location: Oregon
Posts: 8,398
Default

HHS has said in multiple places that they expect the MOOP for 2014 to be 6400, each time noting that the IRS will be the one who will actually set it, but that "they'd be surprised" if it was something different.
__________________
Visit thing's web empire:
Printable Sudoku Puzzles & 12 by 12 Sudoku & 6 by 6 Sudoku & Nurikabe
Reply With Quote
  #3  
Old 04-02-2013, 06:41 PM
Mr F's Avatar
Mr F Mr F is online now
Member
SOA
 
Join Date: Jun 2009
Posts: 3,005
Default

Quote:
Originally Posted by thing View Post
HHS has said in multiple places that they expect the MOOP for 2014 to be 6400, each time noting that the IRS will be the one who will actually set it, but that "they'd be surprised" if it was something different.
I thought so. Thanks.
Reply With Quote
  #4  
Old 04-03-2013, 09:28 PM
cubedbee's Avatar
cubedbee cubedbee is offline
Member
SOA
 
Join Date: Nov 2002
Location: Discordia
Favorite beer: Oaked Arrogant *******
Posts: 15,466
Default

HHS is going to be surprised, the max will be $6,350
__________________
Hooray for fiscal irresponsibility and forced morality.
Reply With Quote
  #5  
Old 04-03-2013, 10:54 PM
thing's Avatar
thing thing is offline
Member
 
Join Date: Sep 2001
Location: Oregon
Posts: 8,398
Default

link, please?

or more seriously, you're messing with us, right?
__________________
Visit thing's web empire:
Printable Sudoku Puzzles & 12 by 12 Sudoku & 6 by 6 Sudoku & Nurikabe
Reply With Quote
  #6  
Old 04-04-2013, 01:17 PM
cubedbee's Avatar
cubedbee cubedbee is offline
Member
SOA
 
Join Date: Nov 2002
Location: Discordia
Favorite beer: Oaked Arrogant *******
Posts: 15,466
Default

No, not joking. It's based on CPI-U per us code, average the value of the index for 12 months ending march 2013 divided by the average for 12 months ending march 2012 to give you the inflation for 2014 hsa formula.

11 out of 12 months have been published for the latest average, so there's a small range of possible inflation. It's applied to the current 6250 and rounded to the nearest 50, and the whole range rounds to a 100 increase

http://www.prlog.org/12091687-mr-hsa...a-numbers.html

This guy agrees. You can do the math yourself.
__________________
Hooray for fiscal irresponsibility and forced morality.
Reply With Quote
  #7  
Old 04-04-2013, 01:29 PM
thing's Avatar
thing thing is offline
Member
 
Join Date: Sep 2001
Location: Oregon
Posts: 8,398
Default

http://www.bls.gov/cpi/ says CPI-U NSA is 2% for February over February, which would be +125, which you can round either up or down. Now, I know nothing about how this is supposed to be calculated, is that the wrong year-over-year figure to be looking at?
__________________
Visit thing's web empire:
Printable Sudoku Puzzles & 12 by 12 Sudoku & 6 by 6 Sudoku & Nurikabe
Reply With Quote
  #8  
Old 04-04-2013, 01:32 PM
cubedbee's Avatar
cubedbee cubedbee is offline
Member
SOA
 
Join Date: Nov 2002
Location: Discordia
Favorite beer: Oaked Arrogant *******
Posts: 15,466
Default

Quote:
Originally Posted by thing View Post
http://www.bls.gov/cpi/ says CPI-U NSA is 2% for February over February, which would be +125, which you can round either up or down. Now, I know nothing about how this is supposed to be calculated, is that the wrong year-over-year figure to be looking at?
That is the wrong way to do it. All federal inflation calcs are 12 month average CPI / 12 month average cpi not a single month over a sinle month measurement.
__________________
Hooray for fiscal irresponsibility and forced morality.
Reply With Quote
  #9  
Old 04-04-2013, 01:48 PM
exponentialpi's Avatar
exponentialpi exponentialpi is offline
Member
SOA AAA
 
Join Date: Nov 2008
Location: Po
Studying for Core
College: Graduate of hard knocks
Favorite beer: Cold Smoke
Posts: 328
Default

Quote:
Originally Posted by cubedbee View Post
That is the wrong way to do it. All federal inflation calcs are 12 month average CPI / 12 month average cpi not a single month over a sinle month measurement.
Is it then true that the annual calculation is the rate of change of Y over X,

where:

Y = 12 month average CPI value from April 2012 to March 2013
X = 12 month average CPI value from April 2011 to March 2012
__________________
Core | Advanced | Specialty
FE | HF | PRF | DMAC
Reply With Quote
  #10  
Old 04-04-2013, 02:13 PM
Not Mike Not Mike is offline
Member
 
Join Date: Oct 2001
Posts: 9,723
Default

Quote:
Originally Posted by cubedbee View Post
No, not joking. It's based on CPI-U per us code, average the value of the index for 12 months ending march 2013 divided by the average for 12 months ending march 2012 to give you the inflation for 2014 hsa formula.

11 out of 12 months have been published for the latest average, so there's a small range of possible inflation. It's applied to the current 6250 and rounded to the nearest 50, and the whole range rounds to a 100 increase

http://www.prlog.org/12091687-mr-hsa...a-numbers.html

This guy agrees. You can do the math yourself.
Is the calc based on 6250 times last year's number or based on the first year's number (5100 in 2004) times the cumulative index?
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 10:59 PM.


Powered by vBulletin®
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
*PLEASE NOTE: Posts are not checked for accuracy, and do not
represent the views of the Actuarial Outpost or its sponsors.
Page generated in 0.29865 seconds with 7 queries