Author Topic: Estimating health insurance costs - help me get a perspective  (Read 445 times)

jjcbjs

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Estimating health insurance costs - help me get a perspective
« on: November 21, 2019, 11:49:30 AM »
I have an intense job and am rapidly approaching burnout. Yet there is a lot that keeps me in it: somewhat flexible, remote work from home (although that can take over my life), good pay and most importantly for my family amazing healthcare. I pay $0 to cover our family of 4 with a plan that has:
+A $300 deductible
+covers 100% in network with $0 co pays (80% out of network)
+dental - $3k max per person/per year
+vision $2k max per person/per year (exam, glasses, etc.)

We have manageable expenses and I could cut my salary. But I have a problem giving up this healthcare. I have been with my company for 10 years and am out of touch with how this compares. Would love input on:
  • What is the typical cost for employer sponsored healthcare? What might I have to pay if I went to a different corporate job?
  • What is the cost for Obamacare/similar? I have a skillset where I could build my own consulting business, but would need to factor in the cost to insure our family...

ontheway2

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Re: Estimating health insurance costs - help me get a perspective
« Reply #1 on: November 21, 2019, 11:59:16 AM »
My employer is $700/month for health and additional for dental and vision. Most employers I have encountered have been in the $550-750 range for family coverage with a range of actual coverage, but none have been as good of coverage as what you have.
Obamacare costs won't be lower unless you qualify for subsidies, which you wouldn't since you would have coverage offered through an employer (assuming the coverage for the employee only is deemed affordable). I've noticed with this clause, most employers offer really affordable coverage for the employee then greatly increase costs for family members. If self-employed, it would just depend on your MAGI.

EDIT: You can check ACA plan costs on the website. A quick search tells me that two 40 year olds with 10 and 12 year old kids in my zip would pay 2k for a gold plan with $1700 deductible or $1300 for a HSA plan with 13k deductible
« Last Edit: November 21, 2019, 01:01:30 PM by ontheway2 »

jjcbjs

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Re: Estimating health insurance costs - help me get a perspective
« Reply #2 on: November 21, 2019, 06:47:38 PM »
Thank you! Very helpful, although a reminder that I might need to keep my current job/benefits for a bit longer.