Author Topic: Health Insurance. What are you doing?  (Read 3501 times)

nara

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Health Insurance. What are you doing?
« on: February 17, 2017, 06:59:45 PM »
Right now we pay $525 for 2 people through our business. This was slightly cheaper than current rates for individual plans which we've had for 5 years now. What do you do post-FIRE for insurance? I know in the past people used the ACA, but it seems like the rates have gone way up. Is living abroad the only option now?!

Mr. Green

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Re: Health Insurance. What are you doing?
« Reply #1 on: February 18, 2017, 10:57:01 AM »
I'm still using my ACA plan, even though I'm back to work half-time for now. The cost has gone up a good bit but for me there's no cheaper alternative at the moment. If we were fullg FIREd we'd get a subsidy that would keep insurance affordable. I don't know what will happen with the ACA over the next few years but we have some extra built into our planned spending in case healthcare costs are higher in the future. Extensive travel abroad is certainly an option but not one we're entertaining just yet.

ShortInSeattle

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Re: Health Insurance. What are you doing?
« Reply #2 on: February 18, 2017, 12:27:44 PM »
We're on plans we purchased through our state exchange, and we plan to continue to purchase individual health plans, either via state exchanges or on the private market.

If our current plan is still available through our insurer at an affordable rate next year, we'll renew. Our insurer offered individual plans prior to the ACA, so I'm hopeful they'll still be available.

If so-called "catastrophic" plans come back, we'd consider getting one of those.

And if individual health insurance becomes entirely unaffordable, we'd need to consider leaving the US and traveling where medical costs are lower, or going back to work in order to get health insurance. Certainly we're hoping that doesn't happen.

SIS

geekette

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Re: Health Insurance. What are you doing?
« Reply #3 on: February 18, 2017, 01:14:48 PM »
Still on an ACA plan.  If things go to sideways and DH has to go back to work, he gets a Tesla.  (We won't need the income, just the benefits, so he can buy whatever the hell he wants).

Miss Prim

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Re: Health Insurance. What are you doing?
« Reply #4 on: February 18, 2017, 02:10:52 PM »
I'm on the ACA right now.  Started out on Cobra, then the price went way up, so switched to ACA.  My plan is pretty high because I wanted to keep my specific Dr., but I do get a subsidy.  Just have to get through Sept 2018 and I will be on Medicare.  Husband is older, so he is on Medicare already.  Even though I pay quite a bit for health insurance, it beats working! 

Right now, I'm not taking SS and letting it increase and husband is still running a business, but has subcontracted it out, so our income is OK with pulling out 4% from total stash.  Just have to watch how much I pull out to keep subsidy.

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Jammu

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Re: Health Insurance. What are you doing?
« Reply #5 on: February 18, 2017, 02:19:46 PM »
ACA isn't dead yet...not for 2017 at any rate, and probably 2018 as well.

I will keep that until whatever decisions are made. Then cross that bridge when we come to it.

R62

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Re: Health Insurance. What are you doing?
« Reply #6 on: February 18, 2017, 07:53:59 PM »
We're on plans we purchased through our state exchange, and we plan to continue to purchase individual health plans, either via state exchanges or on the private market.

If our current plan is still available through our insurer at an affordable rate next year, we'll renew. Our insurer offered individual plans prior to the ACA, so I'm hopeful they'll still be available.

If so-called "catastrophic" plans come back, we'd consider getting one of those.

And if individual health insurance becomes entirely unaffordable, we'd need to consider leaving the US and traveling where medical costs are lower, or going back to work in order to get health insurance. Certainly we're hoping that doesn't happen.

SIS

This.  We also have the option to reduce our annual taxable income and go on Medicaid, and while we have to consider it, at this juncture that would not our first choice.

geekette

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Re: Health Insurance. What are you doing?
« Reply #7 on: February 18, 2017, 08:48:49 PM »
We're on plans we purchased through our state exchange, and we plan to continue to purchase individual health plans, either via state exchanges or on the private market.

If our current plan is still available through our insurer at an affordable rate next year, we'll renew. Our insurer offered individual plans prior to the ACA, so I'm hopeful they'll still be available.

If so-called "catastrophic" plans come back, we'd consider getting one of those.

And if individual health insurance becomes entirely unaffordable, we'd need to consider leaving the US and traveling where medical costs are lower, or going back to work in order to get health insurance. Certainly we're hoping that doesn't happen.

SIS

This.  We also have the option to reduce our annual taxable income and go on Medicaid, and while we have to consider it, at this juncture that would not our first choice.
Our state didn't expand Medicaid, so we'd bump into the asset limit. I don't know how other states will handle high asset/low income residents in future years.

jim555

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Re: Health Insurance. What are you doing?
« Reply #8 on: February 19, 2017, 01:50:55 PM »
In one of the Republican proposal papers they state that the expanded Medicaid would be kept for a short period.  But the federal match would be reduced from 100-90% down to 50%.  No state can afford it at a 50% match so it is basically toast.

AdrianC

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Re: Health Insurance. What are you doing?
« Reply #9 on: February 19, 2017, 02:17:16 PM »
ACA. Not likely to get a subsidy this year.

Next year, who knows? If the ACA is going bye bye, then we plan to max out an HSA and buy catastrophic insurance, if it's available.

Ultimate fall back plan is my British passport.

Mr. Green

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Re: Health Insurance. What are you doing?
« Reply #10 on: February 19, 2017, 02:35:48 PM »
ACA isn't dead yet...not for 2017 at any rate, and probably 2018 as well.

I will keep that until whatever decisions are made. Then cross that bridge when we come to it.
The biggest thing I'm concerned about in the immediate term is all the insurers dropping out of the ACA out of concern over the politics. I know Anthem and Cigna are both considering whether to continue participating in the exchanges. Hopefully no one will be put in the position where there are no insurers at all for their area.

AdrianC

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Re: Health Insurance. What are you doing?
« Reply #11 on: February 19, 2017, 06:42:27 PM »
ACA isn't dead yet...not for 2017 at any rate, and probably 2018 as well.

I will keep that until whatever decisions are made. Then cross that bridge when we come to it.
The biggest thing I'm concerned about in the immediate term is all the insurers dropping out of the ACA out of concern over the politics. I know Anthem and Cigna are both considering whether to continue participating in the exchanges. Hopefully no one will be put in the position where there are no insurers at all for their area.

My concern also. I think it's a real possibility. The two sides will each blame the other ("death spiral" vs "you broke it"), nothing gets done, and meanwhile we are left with no options. Nothing we can do except call our "representative".


soccerluvof4

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Re: Health Insurance. What are you doing?
« Reply #12 on: February 20, 2017, 07:16:37 AM »
Seeing this coming in November my DW and I both started applying for the most flexible, easy job close to home with the best benefits. My DW won/or lost but she ended up loving the job. All in all it turned out to be almost a 4k a month turnaround for us. We will only do this till this shit gets settled. If it doesn't then with 4 kids we will alternate and find similar type scenarios till the kids all are off but were saving every dime so we can ride out the 18 month cobra in between each time if need be.
" In life you don't get what you deserve you get what you negotiate"

AdrianC

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Re: Health Insurance. What are you doing?
« Reply #13 on: February 20, 2017, 07:23:51 AM »
Seeing this coming in November my DW and I both started applying for the most flexible, easy job close to home with the best benefits. My DW won/or lost but she ended up loving the job.

What kind of job did she get?

This is an option for us. Needs to be something with the same vacation schedule as our schools, which pretty much means a job at a school or college.

jodelino

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Re: Health Insurance. What are you doing?
« Reply #14 on: February 22, 2017, 10:43:29 PM »
ACA isn't dead yet...not for 2017 at any rate, and probably 2018 as well.

I will keep that until whatever decisions are made. Then cross that bridge when we come to it.
The biggest thing I'm concerned about in the immediate term is all the insurers dropping out of the ACA out of concern over the politics. I know Anthem and Cigna are both considering whether to continue participating in the exchanges. Hopefully no one will be put in the position where there are no insurers at all for their area.

This is my fear too. I just started on ACA in January, after my COBRA ran out. My plan is a crazy expensive HMO (maybe after we do our 2017 taxes we'll find that I qualify for a small subsidy). I have a $5K deductible, and none of my providers are in the network, so I am paying them out of pocket. But at least I was able to buy insurance despite pre-existing conditions. I am several years away from Medicare. I don't know what I'll do if the ACA options go away. Hope someone will sell me a catastrophic policy....?

BTDretire

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Re: Health Insurance. What are you doing?
« Reply #15 on: February 27, 2017, 03:41:55 PM »
 Still have a grandfathered in BCBS plan that I'm paying $854 a month for a family of 4.
The cost was $438 in May 2012 before I started getting large increases to meet the
ACA regulations. Whoppee, society gets to spend unlimited amounts to keep me alive rather than $5,000,000.
Whoppee, I don't have to pay for my yearly physical at $200.

azure975

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Re: Health Insurance. What are you doing?
« Reply #16 on: February 27, 2017, 07:33:45 PM »
Seeing this coming in November my DW and I both started applying for the most flexible, easy job close to home with the best benefits. My DW won/or lost but she ended up loving the job. All in all it turned out to be almost a 4k a month turnaround for us. We will only do this till this shit gets settled. If it doesn't then with 4 kids we will alternate and find similar type scenarios till the kids all are off but were saving every dime so we can ride out the 18 month cobra in between each time if need be.

I've considered something like this but even more crazy--if we were really unable to get health insurance due to pre-existing conditions, we could take turns getting some job/any job that offered health insurance, work a couple months, and then quit and pay for COBRA for the full 18 months. That way at least we'd each only have to work every 36 months. I've always assumed we'll have to pay the full boat for health insurance post-FIRE--the issue if the ACA is dismantled is being able to qualify for it at all.

Spork

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Re: Health Insurance. What are you doing?
« Reply #17 on: February 28, 2017, 11:34:53 AM »
2016: ACA with subsidy that I'll have to pay back on taxes this year.  Oh bother.
2017: ACA with (hopefully) income engineered to get minimum subsidy
2018: Likely will still be ACA or some other similar plan...  time will tell

We actually had a second  ACA insurance provider pop up in our area for 2017 that both has a better selection of doctors AND is much cheaper than our 2016 plan.
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Cassie

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Re: Health Insurance. What are you doing?
« Reply #18 on: February 28, 2017, 03:23:02 PM »
We have retiree insurance through our former employer. Every year it gets more expensive. In July it will go up to 11.5k/year for a HMO. We are switching to the PPO  that will be half the cost but more out of pocket for expenses. I will keep track to see if we save any $. We can switch every year between plans.

soccerluvof4

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Re: Health Insurance. What are you doing?
« Reply #19 on: March 03, 2017, 10:01:02 AM »
Seeing this coming in November my DW and I both started applying for the most flexible, easy job close to home with the best benefits. My DW won/or lost but she ended up loving the job.

What kind of job did she get?

This is an option for us. Needs to be something with the same vacation schedule as our schools, which pretty much means a job at a school or college.







She actually Got a job working for a company that does benefits, payroll etc.... an its saving us net/net close to 4k a month when you consider her take home and what the insurance was going to cost. I worked for 3 months and then we did cobra for 18. If she doesnt like this job after a period shorter than it takes to get this hammered out with the Goverment she will do the same thing. Another option then would be me go to work again for 3 months somewhere down the line.  If i gotta or shes gotta work 3 months out of 4 years its worth it.
" In life you don't get what you deserve you get what you negotiate"