Long time lurker here who has been able to do some serious damage to lowering costs. In fact, my wife and I just went down to 1 car since I now walk to work everyday! Thanks for all your help guys!
So, I am looking to buy health insurance for my wife since she will be losing her current coverage at the end of the year. She has a medical condition such that our current out of pocket expenses are over $100 per month with some great insurance coverage.
Looking at the ACA plans online (healthcare.gov), there are some plans that are quite cheap and have low out of pocket maximums. However, I am a bit confused as it seems too good to be true. For instance, one plan is $215 per month, but has an out of pocket maximum of $1,350 per year. We would probably hit that maximum in a year so that our medical cost would be $327.50 per month.
However, other plans that are higher "metal rating" include things such as this one with a "Gold" rating: $403 per month w/ out of pocket maximum of $6,000 per year. Doesn't this mean that, given our medical expenses out of pocket (assumed at $1,350 per year), would end up being much higher at $515.5 per month?
I feel that I must be missing something. . . Any help would be greatly appreciated!