Losing my health insurance

[Dawg Fan]

I'm still about 4 - 5 yrs from FIRE and as a self employed person, I have always had an independent plan which frankly, I have had to shop annually to confirm/change to the best plan. We have been fortunate that my wife and 4 kids have all been healthy over the years so aside from some broken bones and sports injuries/surgeries, no long term conditions that have to be addressed. I have always opted for the high deductibles essentially self insuring the first X $ and this has turned out to be the best financial decision over the years when comparing my all in annual medical costs to the alternative high premium/lower deductible options. My research over the years always seemed to point me to a non HSA qualified plan. I have received notice that my plan will terminate at the end of the year. My limited research is my only real option is to pick an Obamacare plan and set up an HSA? At this point, I only have 2 college kids left in the nest along with my wife. Am I right that Obamacare is it? If so, I suppose it stays as the best option even in post FIRE life?

[iknowiyam]

Affordable Healthcare Act (ACA) is not a plan or a group of plans. It just sets the rules. I am under the  impression there are many third party search tools you can use to pick the right healthcare plan if you do not like the federal website. A quick Google search confirms this.

I have a plan that involves an HSA, but we did not actually use it this year. You do not have to put money in the HSA as a part of the plan, at least not with my last 2 carriers.

I hope this helps!

NOTE: If you are thinking about Kaiser make sure you live a reasonable distance from one of their primary care centers; they have a kind of different set-up from all the other carriers. Limited places you can go and be fully covered - but pretty quick and organized access to care.

[Gin1984]

The only issue with picking a plan not from the marketplace is that you are not eligible for subsidies.  Also, there are many non-HSA plans on the marketplace at least in the two states I have looked at.

[Valencia de Valera]

You can buy health insurance through the ACA marketplace (healthcare.gov) or you can get it directly from the insurance companies. Google insurance companies in your area and you can get quotes on their websites. In my experience, the plans are exactly the same on the marketplace and the company websites, for the exact same price; the only difference is that if you sign up through the marketplace you can receive the subsidies if you qualify, whereas if you buy through the insurance companies you cannot, even if you would have qualified. It's also a convenient place to compare plans from multiple companies. There were only a few high-deductible plans available in my area, most were traditional plans with copays, etc. We signed up through the Marketplace even though we don't anticipate qualifying for subsidies, in case one of us loses our job or something and we do end up qualifying.

[forummm]

You can buy health insurance through the ACA marketplace (healthcare.gov) or you can get it directly from the insurance companies. Google insurance companies in your area and you can get quotes on their websites. In my experience, the plans are exactly the same on the marketplace and the company websites, for the exact same price; the only difference is that if you sign up through the marketplace you can receive the subsidies if you qualify, whereas if you buy through the insurance companies you cannot, even if you would have qualified. It's also a convenient place to compare plans from multiple companies. There were only a few high-deductible plans available in my area, most were traditional plans with copays, etc. We signed up through the Marketplace even though we don't anticipate qualifying for subsidies, in case one of us loses our job or something and we do end up qualifying.

This, with the exception that you CAN get the premium tax credits when you file your taxes at the end of the year (just not in advance). I believe you cannot get the cost sharing reductions if you buy outside of the Marketplace. But just do yourself a favor and go right to the Marketplace because all the plans are there competing with each other and you can see which ones work for you instead of going to individual company websites. Open Enrollment for 2016 coverage starts November 1, 2015 at healthcare.gov

[Retired To Win]

... My research over the years always seemed to point me to a non HSA qualified plan. I have received notice that my plan will terminate at the end of the year. My limited research is my only real option is to pick an Obamacare plan and set up an HSA?...

All else being equal, I've always thought that taking advantage of an HSA is the smart way to go.  The contributions you make to it -- up to your annual limit -- are not taxed.  So you get to pay for out-of-pocket medical expenses with pretax dollars.  Under the right circumstances, you can also use those funds to pay for health care policy premiums. You can also invest your HSA money just like you can invest your IRA money; in that regard, the HSA acts as an additional tax-deferred investment/retirement account.

I just don't fathom what you could have found to be a negative about going for the HSA option.

[flashpacker]

I just got notice that my health insurance company are ceasing at the end of 2015.  I am pregnant and due in Feb 2015.  I chose my current providers based on my current plan.  Such a pain!  I'm not going to want to change OB with one month to go, so I guess I am going to be restricted to plans he is contracted with, and then stuck in that plan for the rest of 2016.   We don't buy on the marketplace as not eligible for subsidies due to our investment income.

[Dawg Fan]

... My research over the years always seemed to point me to a non HSA qualified plan. I have received notice that my plan will terminate at the end of the year. My limited research is my only real option is to pick an Obamacare plan and set up an HSA?...

I just don't fathom what you could have found to be a negative about going for the HSA option.

In my case up until this point, the best independent plans when taking into account all the variables (i.e. Premium costs, deductibles, preferred docs, co-pays) all led me to non HSA eligible plans, even when comparing the tax benefit of pre tax HSA $.
I still need to do my research for 2016 and most of the comments have supported what I have heard from others. I know I will not qualify for any subsidies. In a quick search, I did not see any exclusions of the tax right off for a funded HSA acct... does anyone know if the tax right off goes away above a certain income effectively removing the HSA benefit?

[forummm]

I just got notice that my health insurance company are ceasing at the end of 2015.  I am pregnant and due in Feb 2015.  I chose my current providers based on my current plan.  Such a pain!  I'm not going to want to change OB with one month to go, so I guess I am going to be restricted to plans he is contracted with, and then stuck in that plan for the rest of 2016.   We don't buy on the marketplace as not eligible for subsidies due to our investment income.

Even if you are not eligible for subsidies you could still find plans on the Marketplace that could be better for you. They don't have a way to search by provider (which is annoying), but you could still see what plans might be better for you and then see if the OB is part of the plan.