FIRE'd need health insurance

[Dancin'Dog]

This has likely been answered here, but I don't know how to search for it.  If so, please post the link(s).




I've been self employeed and my wife has had insurance for herself & our daughter covered through her job.  My father recently passed away and we've inherited enough to FI on.  I know I "should" have had health insurance.  I had it for a while, the the rates went up drastically & I was young and healthy, so I dropped it.


Where should I look for health insurance?  I'm 54, male, non smoker, and reasonably fit.  I think I read Mr. Mustache is self insured.  How does that work?  I also recall reading about international travelers getting insurance in Germany that covers them worldwide.  I've seen religious based forms of insurance, but I don't attend church. 


What are my options? 

[GuitarBrian]

Do you live in a state that expanded Medicaid? You actually didn't say if you even live in the US... But assuming you do... Once you don't have income (less than 133% of poverty level) you will qualify for Medicaid. If you have more income (133% to 400%) you would qualify for marketplace plans, and the subsidies they offer.

[Mr. Green]

Health insurance is not something you ever want to self-insure for in the US. One major medical emergency would likely wipe you out. MMM self-insured his house. Look at healthcare.gov, the official website for the Affordable Care Act. Depending on your state they may have their own website that healthcare.gov will redirect you to. The good news is that insurers can no longer discriminate and raise or lower your rates based on your health. You'll pay the same rate as any other man your age. Depending on your household income you may qualify for a subsidy that will help defray the cost of your insurance premiums. If your income is low enough it may even reduce your insurance deductible and maximum out of pocket costs, or you may qualify for Medicaid. I have called the ACA phone number on several occasions and the operators there have always been extremely helpful.

[HPstache]

You could always consider a health sharing ministry.   They are generally for families who regularly attend a Christian church, but there are a few that are more inclusive than that.  Check out the podcast Radical Personal finance for a great episode health share

[Dancin'Dog]

I went to healthcare.gov   


I need to get our estimated income numbers confirmed to get prices, but I plugged in some guestimates to get an idea of what to expect.


I discovered that if our estimated income is $80K we'll pay $0 per month for a bronze plan.  If our estimated income is $100K we'll pay over $2050 per month.  I was shocked by the price difference.  $2050 per month adds up a lot quicker than $0!  ;)


I also tried it with a different zip code as our primary address and discovered it's a lot cheaper to live in the mountains than in the city. 


I checked out Liberty Health Share, but was turned off by the "this is not insurance" disclosures.  I wouldn't feel comfortable paying into something that doesn't have a legal obligation to cover my medical bills and is unregulated. 


Thanks for the help.  It looks like I've got some numbers to crunch.