Can we FIRE in one year at age 39 & 57?

[simple girl]

I played with the numbers a bit, and it's still not clear that this will always make the Silver option the preferred - Bronze still comes ahead for healthy individuals and individuals who hit the out of pocket maximum.

I put in a hypothetical 55 year old couple with incomes of 58K and 38K to see how things look.

For the 58K case, the premium difference is approximately $370 a month (or $4440 a year). Out of pocket maximums (individual/family) are: 6500/13000 vs. $6250/12500.

For the 38K case, the premium difference is smaller $223 a month (or $2676 a year) - this is due to the fact that the subsidy is getting maxed out, so the net premium is only $2/month. OOP maxes are: 6500/13000 for Bronze vs. $5450/10900.

You can see that the difference in OOP amounts doesn't make up for the higher premiums in either case (though the 38K case makes it close).

So the benefit for the Silver plan is in the mid-range - if you spend less than the OOP max, but more than the difference in the cost of the premiums, there's a range where the Silver plan is ahead.

Look at some lower numbers for income. It's been a while since I cranked it, but there is a "sweet spot" for MAGI where the Silver ends up being the best bet. When I last looked at it for my state, it was right around $30K for two adults ages late 40's/early 50's.

If you are living off of after-tax accounts it is possible to keep MAGI at that sweet spot level and not go over the "cliff".

Here is an excellent article written by one of our members here that you may find very interesting:

Don’t Fall Off The Affordable Care Act Subsidy Cliffs | Root of Good


I'll be looking at it closer again when we are ready to pull the trigger (hopefully in 2018) to reassess and make sure that plan is still the best for us.

 

[Dreaming of Freedom]

February 2017 update:

Me:40, Him:58.
Total savings: $1.4 mil, Total NW: $1.56 mil.
My savings: $343K, My NW: $403K
We are still not married (an ERE prerequisite for me).
He is still not seriously thinking about retirement for himself (ugh).

I thought $1.4mil was going to be enough for us. We spend $30K/year or less, not including income taxes, health insurance, or future car payments. However, I am not sure we will be able to obtain decent health insurance & healthcare at any cost next year. Am I the only one extremely nervous about the individual health insurance market in the US next year? (If you have any recommendations, let me know, but please avoid the political junk so this thread doesn't get closed).

As a result, our retirement plans are now really up in the air unless we decide to retire and go with psuedo HI like Liberty Healthshare or become expats year round in another country with decent, affordable healthcare (maybe Mexico?). The COBRA for the high deductible plan where I work is $17,500/year for a couple. Ouch!

Another reason our estimated retirement date is in the air is my mother was diagnosed with Progressive Supra-nuclei Palsy (PSP) in May, which has severely impacted my life the last 6 months. I had to take off work/FMLA to be her full time caretaker when she became bed ridden in late August, but could not yet get her into a nursing home. The Medicaid system is really messed up in Kansas, and as a result, very few nursing homes will take Medicaid-pending patients anymore. We submitted an application to Medicaid 21 weeks ago, and are still waiting for them to approve her app. My mom and stepfather are in very bad financial shape with no assets, so the nursing home believes she will be approved someday... Anyway, I now have hands on experience with awful situations like this. I am an only child who lives 3 hours away, and my stepfather is in his late 60's and not fully competent, so I will probably stay put and not retire until after my mom passes from this terrible disease.

We finally moved to our main home for good last summer right before my mom went downhill, but because of her situation, I have not had much time to deal with my old, deteriorating house. I'm still not sure if I am going to rehab it and rent it, or try to sell it as is for a steep loss. At least I can still sell it for more than i owe. Sadly, the house needs major foundation work, which is the big, expensive hurdle in both scenarios.

On the bright side, both my boyfriend and I got really nice raises almost a year ago. I am happy with my job, but he is always complaining about his (yet does not think about retiring). I don't feel like I am in a hurry to retire due to my age, but I do worry about how many great years he has left.

I was hoping we'd be able to retire by April 2018, but things are not falling into place. There are too many negative loose ends: no good, affordable health insurance/healthcare in the US, my terminally ill mother with no resources of any kind, my old house dragging me down, getting my boyfriend to retire, and finally, getting him to marry me.

I hope this update doesn't sound too negative, but I am sure many of you have dealt with these same issues. Any advice or thoughts?

 

[AnIntentionalRoad]

Sorry to hear about your mom. We went through something similar with my Mother in law last year.

I've been semi-retired now for almost 5 years and on the ACA but if I were considering retiring this year I would wait to see what plays out with the repeal ObamaCare movement, myself.

Also, since 2/3rds of combined assets are his, you are smart to wait until you are married before quiting your job.

Good luck!

 

[simple girl]

February 2017 update:
Am I the only one extremely nervous about the individual health insurance market in the US next year? (If you have any recommendations, let me know, but please avoid the political junk so this thread doesn't get closed).

We are concerned as well and will be holding off until the healthcare future becomes a bit less murky. Our plan for FIRE is 2018, and so far it looks like we are on track financially - dependent upon healthcare expenses.

Another reason our estimated retirement date is in the air is my mother was diagnosed with Progressive Supra-nuclei Palsy (PSP) in May, which has severely impacted my life the last 6 months.

Very sorry to hear this; that is a difficult diagnosis.

I hope this update doesn't sound too negative, but I am sure many of you have dealt with these same issues. Any advice or thoughts?

The only advice I have is the advice I give myself - plan for the worst, and roll with whatever happens since of course we have no control of the future.

I have also become more politically active regarding the ACA, which helps me feel like I am least trying to impact our future retirement prospects.

 

[broadway]

Am I the only one extremely nervous about the individual health insurance market in the US next year? (If you have any recommendations, let me know, but please avoid the political junk so this thread doesn't get closed).

I am too.
After I left my fulltime permanent job in Sept 2013, I went on COBRA.
Then when ACA became available, I switched over to that even though I was eligible for another year of COBRA.
So I have been on ACA in 2014, 2015, 2016, and now 2017.

I cannot imagine being your age and being 20 years from Medicare-eligible.
I would definitely think very carefully about retiring without medical coverage.

 

[aida2003]

getting him to marry me.

You definitely have a lot going. I wish you to stay strong and don't forget to take care of yourself very well.

I honestly not sure I'd quit my job because you're still not married. You said your BF doesn't have a problem marrying you but a year later since your OP you've not tied the knot. This is a big question if he really really wants to do that as it take a half-day max to get married. Maybe he thinks you're after his $ now and afraid to commit because sometimes just that small piece of paper can rip the best friendships afterwards. In addition you need to be married to him for 10 years before you can claim for this 1/2 SS.

 

[daylatedollarshort]

Sorry to hear about your mom.

You can't do much about health care costs in the U.S. or your mom, but you can make decisions on the house and your BF, since you seem to not be on the same page on major issues like retirement and marriage.

 

[kimcdougc]

What is he waiting for about getting married? Sorry about your mom. I too have dealt with my mom and dementia until she passed in 2015,

Good luck with all your upcoming decisions.

 

[Teacher Terry]

So sorry to hear all the bad news. At your age I would keep working and hope that your BF is healthy enough to retire when you can afford to. Health insurance cost is crazy. We have been semi-retired for 5 years and the cost for retiree health from our past employer is crazy. It just went up to 11.5/year for the 2 of us.

 

[daylatedollarshort]

Our health insurance under ACA (pre subsidy) is $1.7K a month with the 3 - 1 ACA pricing bands, with pretty high deductibles and out of pocket maxes (Bronze plan). At 5 to 1 age pricing, we will go to $2.8K a month in premiums alone and unknown future tax credits, if any.

On the bright side:
State Sen. Ricardo Lara (D-Bell Gardens) on Friday introduced a bill that would create a single-payer healthcare system in California.

 

[MildlyEccentric]

Go to healthcare.gov and price out a silver plan (the only ones eligible for subsidies, since that is what you are counting on) for the two of you.

I just wanted to make a clarification to the above regarding subsidies. ACA non-silver plans are eligible for the ACA Premium Tax Credit. The amount of the credit is based on the cost of the silver plan and your income. The credit helps offset the cost of your monthly premium. Some people refer to the premium tax credit as a subsidy.

Only silver plans are eligible for Cost Sharing Reduction (CSR) subsidies (also income based) which lower out-of-pocket costs for medical services.

 

[Aerides]

Very sorry about your Mom that is difficult.

Having read from the start... after two years (14 together?) you're still not married. As an outsider looking in, big red flag. Be married for at least two years before you quit working.

Married is different. No matter how long you've lived together, it's not the same. If he's 58 and was never married? Odds are if push comes to shove he will not get married. If he was divorced in early 40's prior to meeting you, then maybe, but I would not plan to ER if I could not do it on my own (in your situation).

Either way, yes, the ACA status does scare me too. We just ER'd last year and are on severance package medical thru August, I then planned to cobra for a few months before getting on ACA for 2018 - now that is all up in the air. Since you are both still working, definitely stay until the question marks are gone.

But, to me, your biggest risk is the marriage, lack thereof, and that so much time has gone by without it. Your worst case scenario? You RE right after you marry, the marriage dissolves quickly in a non-contest state (?) and 2 years later you're divorced, no recently employment, 42, and have assets for about 10 years. That's a rough place to land.

I hope I'm painting a picture that doesn't happen, but it's one that's objectively realistic.

 

[broadway]

But, to me, your biggest risk is the marriage, lack thereof, and that so much time has gone by without it.

I don't know if the OP lives in a common-law marriage state.
And even if she did, I don't know what protection under the law she has money-wise with regards to their financial assets.

Is the OP a beneficiary on his retirement accounts?
Is the OP a beneficiary on his will?

To even be worrying about early retirement with this guy is a bit premature.

 

[Dreaming of Freedom]

Yearly update. My boyfriend and I finally got married last November in a small, quick ceremony after being together 14 years. Being married hasn't seemed to change much besides my last name.

My mother died of Progressive Supra Nuclear Palsy the week after we got married (good thing we didn't plan a honeymoon). The week after that her mother fell and broke her leg in multiple places, and then dementia, paranoia, and bitterness really set in. In the middle of it all, my husband was diagnosed with stage 1 melanoma and basal cell carcinoma (he is OK now). My uncle has not been any help at all with grandma, and I am getting tired of being a caretaker for everyone and neglecting my own life, career, health, and husband. None of my family live where I do, so I have to drive 3+ hours one way and literally leave my life behind and on hold. Now I know why a quarter or third of caretakers die before the person they are taking care of.

Anyway, my husband and I have 66% more money than my earlier FIRE number for us, and yet it is not enough to safely retire in the US because we don't have a way to obtain decent dependable affordable health insurance/health care in early retirement. He is still 5+ years from Medicare, and we both have mild pre-existing conditions that are out of our control (no health sharing ministries for us).

We can stay on my employer's health insurance for 18 months after I quit (@ $20,000+/year for premiums), but what do we do after that? The ACA health plans in our area have such tiny networks and no out of network coverage, that it is like not having insurance at all. Are there any cities or states that have good ACA health insurance plans? Will ACA insurance plans even be around in 2019? Will they exclude pre-existing conditions?

I am willing to pay $20,000/year in premiums for good health insurance that has a decent network, some out of network coverage, acceptable customer service, and pays claims in a halfway timely fashion. How much money should a couple save to protect themselves from financial disaster in the US because they are forced to be under-insured because there are no other options? $4 million? $5 million? I wish I were kidding.

Anyway, I am losing hope there will ever be a light at the end of the tunnel with respect to fixing the US health insurance/healthcare disaster, so I have started researching retiring to other countries. My favorite country so far is Mexico because of the proximity to the US, low cost of living, good & affordable healthcare in most urban areas, friendly people, great climate & landscapes, etc. I have made a couple trips to Mexico so far, and am working hard to learn Spanish. I have not talked my husband into retiring to Mexico (yet). Our cost of living in Mexico would be so low that we would not have to worry about healthcare costs eating us alive like in the US. If we didn't like where we moved to, we could move to another city in Mexico, Panama, Costa Rica, or other Latin American countries. We might be able to move back to the US when he is Medicare age, of course that is if I can get decent health insurance on the individual market and if Medicare doesn't get watered down. I have been to a couple places in Mexico that I would consider moving to including the greater Merida area.

Has anyone retired to Mexico for whatever reason? Has anyone retired outside the US because of lack of access to decent health insurance and affordable healthcare?

Not that I would need the extra money in Mexico, but I would still try to work a little from Mexico (remotely/virtually/PC) since I am still somewhat young at age 42. I don't want my brain to retire early!

 

[Dtail]

Yearly update. My boyfriend and I finally got married last November in a small, quick ceremony after being together 14 years. Being married hasn't seemed to change much besides my last name.

My mother died of Progressive Supra Nuclear Palsy the week after we got married (good thing we didn't plan a honeymoon). The week after that her mother fell and broke her leg in multiple places, and then dementia, paranoia, and bitterness really set in. In the middle of it all, my husband was diagnosed with stage 1 melanoma and basal cell carcinoma (he is OK now). My uncle has not been any help at all with grandma, and I am getting tired of being a caretaker for everyone and neglecting my own life, career, health, and husband. None of my family live where I do, so I have to drive 3+ hours one way and literally leave my life behind and on hold. Now I know why a quarter or third of caretakers die before the person they are taking care of.

Anyway, my husband and I have 66% more money than my earlier FIRE number for us, and yet it is not enough to safely retire in the US because we don't have a way to obtain decent dependable affordable health insurance/health care in early retirement. He is still 5+ years from Medicare, and we both have mild pre-existing conditions that are out of our control (no health sharing ministries for us).

We can stay on my employer's health insurance for 18 months after I quit (@ $20,000+/year for premiums), but what do we do after that? The ACA health plans in our area have such tiny networks and no out of network coverage, that it is like not having insurance at all. Are there any cities or states that have good ACA health insurance plans? Will ACA insurance plans even be around in 2019? Will they exclude pre-existing conditions?

I am willing to pay $20,000/year in premiums for good health insurance that has a decent network, some out of network coverage, acceptable customer service, and pays claims in a halfway timely fashion. How much money should a couple save to protect themselves from financial disaster in the US because they are forced to be under-insured because there are no other options? $4 million? $5 million? I wish I were kidding.

Anyway, I am losing hope there will ever be a light at the end of the tunnel with respect to fixing the US health insurance/healthcare disaster, so I have started researching retiring to other countries. My favorite country so far is Mexico because of the proximity to the US, low cost of living, good & affordable healthcare in most urban areas, friendly people, great climate & landscapes, etc. I have made a couple trips to Mexico so far, and am working hard to learn Spanish. I have not talked my husband into retiring to Mexico (yet). Our cost of living in Mexico would be so low that we would not have to worry about healthcare costs eating us alive like in the US. If we didn't like where we moved to, we could move to another city in Mexico, Panama, Costa Rica, or other Latin American countries. We might be able to move back to the US when he is Medicare age, of course that is if I can get decent health insurance on the individual market and if Medicare doesn't get watered down. I have been to a couple places in Mexico that I would consider moving to including the greater Merida area.

Has anyone retired to Mexico for whatever reason? Has anyone retired outside the US because of lack of access to decent health insurance and affordable healthcare?

Not that I would need the extra money in Mexico, but I would still try to work a little from Mexico (remotely/virtually/PC) since I am still somewhat young at age 42. I don't want my brain to retire early!

As far as places with good ACA coverage at reasonable rates, most places in Florida will provide this scenario. For example I have access to 58 plans and am currently in a full Silver plan with one dependent at 24k MAGI. The combined monthly premiums are ~$300.
We looked somewhat at Mexico before choosing Florida. We looked specifically at the Lake Chapala area. There are definitely members of this forum who are residing in that area. We liked it overall, but just didn't pull the trigger.

 

[DFDubb]

Anyway, I am losing hope there will ever be a light at the end of the tunnel with respect to fixing the US health insurance/healthcare disaster, so I have started researching retiring to other countries. My favorite country so far is Mexico because of the proximity to the US, low cost of living, good & affordable healthcare in most urban areas, friendly people, great climate & landscapes, etc. I have made a couple trips to Mexico so far, and am working hard to learn Spanish. I have not talked my husband into retiring to Mexico (yet). Our cost of living in Mexico would be so low that we would not have to worry about healthcare costs eating us alive like in the US. If we didn't like where we moved to, we could move to another city in Mexico, Panama, Costa Rica, or other Latin American countries. We might be able to move back to the US when he is Medicare age, of course that is if I can get decent health insurance on the individual market and if Medicare doesn't get watered down. I have been to a couple places in Mexico that I would consider moving to including the greater Merida area.

You're definitely not alone. My spouse and myself are your age and pretty close to the FI number that I have in my head. We both have high stress, high travel jobs, but are paid well. No kids and we will be willing and able to pull the trigger in 5 years or so. The big question mark is obviously healthcare and the US system is so screwed up it's not even funny. We will likely move to Mexico just to be out of this godforsaken system. We can afford it here, but for me it's the principal of the matter. I'm taking my ball ($) and going elsewhere unless the system is completely overhauled. We'll see what happens.

I share your frustrations.

 

[Dreaming of Freedom]

You're definitely not alone. My spouse and myself are your age and pretty close to the FI number that I have in my head. We both have high stress, high travel jobs, but are paid well. No kids and we will be willing and able to pull the trigger in 5 years or so. The big question mark is obviously healthcare and the US system is so screwed up it's not even funny. We will likely move to Mexico just to be out of this godforsaken system. We can afford it here, but for me it's the principal of the matter. I'm taking my ball ($) and going elsewhere unless the system is completely overhauled. We'll see what happens.

I share your frustrations.

Maybe we'll be neighbors in Mexico?

 

[gamboolman]

DOF
Upon his retirement, a good friend of ours bought a condo in Costa Rico. Beautiful place. He still kept his home in New Orleans also.

He also got married to a lady there and was very happy.

He passed away this last June with prostate cancer at age ~65 after only being retired about 6 years.

Makes one ponder.....

Please keep us updated on what yawl decide to do.

Vaya Con Dios

 

[Dreaming of Freedom]

I am still hoping to partially retire sometime between next winter and April 1, 2022 (when my husband will be ~ 18 months from Medicare age). Unfortunately, the cost of COBRA where I work is now $22,000/year for the two of us as of 2019. That amount of money would more than cover all our living expenses in the area of Mexico that I am interested in moving to. My husband spent 2 weeks in Mexico where I would like to move, and I am happy to say that he did like the area, people, and food a lot. He is not as adventurous and risky as I am though, so I don't know if I can talk him into retiring to Mexico.

Of course it is even riskier to retire in the US before Medicare age because of the cost of healthcare and health insurance in the US. Maybe if we had an extra $500,000 "oh crap" cushion for healthcare, I would feel better. Of course then we'd have $1.5 million earmarked just for healthcare, which is more than we need to cover everything else. How many early retirees have $1.5 million saved just for healthcare in retirement? This seems like a crazy number to me.

Another option is me going back to school part time for the fun of it, and getting a student health insurance PPO plan. They are still reasonably priced, and tuition+fees+books+health insurance would still be half of what COBRA will cost.

We could always just wing it with a crappy ACA "tiny network" plan for almost nothing ($), and put back the nearly $20,000/year that we would save hoping that the "accumulated amount" would cover the rainy days when one of us might get cancer and have few in-network or drug options.

Finally, we could move to another state with better ACA options. But how do I find out where to look for data on locations with good PPO ACA plans? I have heard Florida has good ACA plans, but a couple counties I looked at did not have PPO plans, just EPO plans.

At this point, I want to move to Mexico for dozens of reasons. Unfortunately, I can't seem to get my husband to retire (yet). He is too scared we are going to run out of money because of out of control healthcare costs in the US.

Are there any safe health insurance options that I am overlooking or don't know about? What is your plan? How are you mitigating the risk of early financial doom due to uncontrollable healthcare costs?

 

[daylatedollarshort]

Are there any safe health insurance options that I am overlooking or don't know about? What is your plan? How are you mitigating the risk of early financial doom due to uncontrollable healthcare costs?

Our ACA plan seems fine. We pay $2 a month for premiums for a Bronze plan, have access to a top local hospital and a fairly extensive provider list. California is moving towards universal healthcare and have a new governor with that as his main campaign platform. We do have something like a $14K out of pocket max. However, we retired before the ACA and I budgeted $20K a year for for healthcare based on our COBRA costs at the time so overall we've come out under budget.

 

[Dtail]

I am still hoping to partially retire sometime between next winter and April 1, 2022 (when my husband will be ~ 18 months from Medicare age). Unfortunately, the cost of COBRA where I work is now $22,000/year for the two of us as of 2019. That amount of money would more than cover all our living expenses in the area of Mexico that I am interested in moving to. My husband spent 2 weeks in Mexico where I would like to move, and I am happy to say that he did like the area, people, and food a lot. He is not as adventurous and risky as I am though, so I don't know if I can talk him into retiring to Mexico.

Of course it is even riskier to retire in the US before Medicare age because of the cost of healthcare and health insurance in the US. Maybe if we had an extra $500,000 "oh crap" cushion for healthcare, I would feel better. Of course then we'd have $1.5 million earmarked just for healthcare, which is more than we need to cover everything else. How many early retirees have $1.5 million saved just for healthcare in retirement? This seems like a crazy number to me.

Another option is me going back to school part time for the fun of it, and getting a student health insurance PPO plan. They are still reasonably priced, and tuition+fees+books+health insurance would still be half of what COBRA will cost.

We could always just wing it with a crappy ACA "tiny network" plan for almost nothing ($), and put back the nearly $20,000/year that we would save hoping that the "accumulated amount" would cover the rainy days when one of us might get cancer and have few in-network or drug options.

Finally, we could move to another state with better ACA options. But how do I find out where to look for data on locations with good PPO ACA plans? I have heard Florida has good ACA plans, but a couple counties I looked at did not have PPO plans, just EPO plans.

At this point, I want to move to Mexico for dozens of reasons. Unfortunately, I can't seem to get my husband to retire (yet). He is too scared we are going to run out of money because of out of control healthcare costs in the US.

Are there any safe health insurance options that I am overlooking or don't know about? What is your plan? How are you mitigating the risk of early financial doom due to uncontrollable healthcare costs?

Bolded Not sure what plans in Florida you looked at, but there is a great Silver Plan (BCBS or Florida Blue 1443) which is a PPO plan. I believe it states on the surface that it is an EPO plan.
However, in the state of Florida, it functions as a PPO plan, but traveling elsewhere in the USA, it is an EPO plan.
My brother and I are on the plan in the Tampa area and it is $133 monthly premium for the 2 of us in total with no deductible and OOP of $1,450 each.
This number is at $24k MAGI at 58 and 59 y.o..

The ranges for this plan can vary greatly, depending which zip code in FLA one is in.
I know that in the Tampa, Ocala, St. Augustine areas as 3 examples, the premiums are very reasonable for this popular full service Silver Plan choice.
We have a multitude of doctor choices in our Tampa area.

We considered Mexico (Lake Chapala) heavily, but decided on FLA.

 

[Born2Fish]

I am still hoping to partially retire sometime between next winter and April 1, 2022 (when my husband will be ~ 18 months from Medicare age). Unfortunately, the cost of COBRA where I work is now $22,000/year for the two of us as of 2019. That amount of money would more than cover all our living expenses in the area of Mexico that I am interested in moving to. My husband spent 2 weeks in Mexico where I would like to move, and I am happy to say that he did like the area, people, and food a lot. He is not as adventurous and risky as I am though, so I don't know if I can talk him into retiring to Mexico.

Of course it is even riskier to retire in the US before Medicare age because of the cost of healthcare and health insurance in the US. Maybe if we had an extra $500,000 "oh crap" cushion for healthcare, I would feel better. Of course then we'd have $1.5 million earmarked just for healthcare, which is more than we need to cover everything else. How many early retirees have $1.5 million saved just for healthcare in retirement? This seems like a crazy number to me.

Another option is me going back to school part time for the fun of it, and getting a student health insurance PPO plan. They are still reasonably priced, and tuition+fees+books+health insurance would still be half of what COBRA will cost.

We could always just wing it with a crappy ACA "tiny network" plan for almost nothing ($), and put back the nearly $20,000/year that we would save hoping that the "accumulated amount" would cover the rainy days when one of us might get cancer and have few in-network or drug options.

Finally, we could move to another state with better ACA options. But how do I find out where to look for data on locations with good PPO ACA plans? I have heard Florida has good ACA plans, but a couple counties I looked at did not have PPO plans, just EPO plans.

At this point, I want to move to Mexico for dozens of reasons. Unfortunately, I can't seem to get my husband to retire (yet). He is too scared we are going to run out of money because of out of control healthcare costs in the US.

Are there any safe health insurance options that I am overlooking or don't know about? What is your plan? How are you mitigating the risk of early financial doom due to uncontrollable healthcare costs?

Below are the estimated costs for me and spouse using you and your husband's ages, with $60k MAGI income.

Blue Cross And Blue Shield Of NC · Blue Advantage Bronze 6750 (Broad Network, HSA Eligible)
Metal Level: BronzeBronzePlan Type: PPOPPOPlan ID: 11512NC0060024
Estimated monthly premium
$389.27
Was: $1,714.45

Deductible
$13,500
Family Total
Out-of-pocket maximum
$13,500
Family Total


I entered "male, 61y/o, female, 41y/o", estimating ages from your first post but you can go to the web address below, enter zip code of 27803 (Nash county) and provide your own information.

https://www.healthcare.gov/see-plans/#/aptc

This is a PPO with HSA. Max out the HSA for 3-4 years and the HSA will cover your annual max OOP. HSA is pre-tax so you can use it to reduce your MAGI.

I started using HDHP at work about 3 years ago and have never looked back. My HSA acct balance is ~$16500 now.

 

[swakyaby]

This is my 3rd year of a HDHP with HSA, and it has been a good choice. The first year on the plan, my premiums changed from $18K to $14K for DH and I, and my OOP was only $1000. The next year I was retired, and I kept the same HDHP with HSA under a cobra for 1 year. Premium was $14.5K and my OOP was $2000. (Without cobra, my unsubsidized premium would have been $20.5K; a non-HDHP would have been $26K!) But before you get discouraged, this year I decided to apply for an ACA bronze plan, a ppo HDHP with HSA. On my application, I stated my income would be $65K. Now my monthly premiums are only $545/month. Because DH and I are both healthy, we haven’t come close to maxing out our deductible. OP’s rate would be even less because of her young age, and there is no pre-existing disease exclusion clause with the ACA. After a career of paying high health care premiums (I had no employer contribution) and lots of taxes, retiree expenses this year have turned out to be surprisingly lower than I planned for. Moving to a higher COL area may not be out of reach for the OP after all.

 

[Dreaming of Freedom]

We hit another big net worth milestone today, and are still happily married! Hopefully my husband will retire this year. He keeps working and I don't think he even knows why.

More than a decade ago, I did a retirement planning exercise through my 457 plan, and my FIRE/partial FIRE guesstimate year was 2022. I will definitely hit that date (4/1/2022 & barely still 45), though I have way too many things I want to do to completely FIRE. I am definitely ready to do something besides sit in a cubical 40 hours per week. I am hoping to somehow push my partial-FIRE date to 2020, but my husband is a snail when it comes to making big decisions and changes.