ACA Bronze vs Silver. my situation

[DektolMan]

I'm 62, DW 61 living in CT and open enrollment for ACA plans are now online and here is my situation.

Not collecting SS yet so income is from dividends and Roth Conversions. We have enough cash on hand not to take withdrawals from Ira's at this time.

Rates for MAGI of $65,000
Bronze Plan after subsidy $3.10 per month
Silver Plan after Subsidy $396 per month

but if MAGI is $70,000
Bronze Plane $1,721 per month
Silver Plan $2,418 per month

We are healthy and can absorb a high deductible plan. DW feels guilty if we take a plan that only costs $3.10 per month and I feel that this is the way the law was written and those that passed the bill without reading it sure didn't know how it would be played out.

Anyone else in the same situation?

 

[ivinsfan]

I'm 62, DW 61 living in CT and open enrollment for ACA plans are now online and here is my situation.

Not collecting SS yet so income is from dividends and Roth Conversions. We have enough cash on hand not to take withdrawals from Ira's at this time.

Rates for MAGI of $65,000
Bronze Plan after subsidy $3.10 per month
Silver Plan after Subsidy $396 per month

but if MAGI is $70,000
Bronze Plane $1,721 per month
Silver Plan $2,418 per month

We are healthy and can absorb a high deductible plan. DW feels guilty if we take a plan that only costs $3.10 per month and I feel that this is the way the law was written and those that passed the bill without reading it sure didn't know how it would be played out.

Anyone else in the same situation?

This is between you and your wife,but perhaps she'd feel less guilty paying 396 for the silver plan ..you still come out ahead

Why don't you tell her you can take the cheap plan and have 20K a year to donate to good causes and that's a win/win...unless your spouse feels an insurance company is a good cause.

 

[ikubak]

I'm in that situation and this is my first year in ACA. I am probably going to go with the Bronze since we can handle the high deductible and have good health. We will have to be very careful on the MAGI because as you know, the rate changes substantially between 65K and 70K. Good luck.

 

[RunningBum]

For $20,000 over the year, I can live with a lot of guilt. Trying to avoid getting political, but I hear a lot of pols talk about about how health care costs really aren't that bad with the subsidy. If they are going to assume that people get the subsidy, then I'm going to take the subsidy.

 

[RunningBum]

This is between you and your wife,but perhaps she'd feel less guilty paying 396 for the gold plan ..you still come out ahead

Why don't you tell her you can take the cheap plan and have 20K a year to donate to good causes and that's a win/win...unless your spouse feels an insurance company is a good cause.

Both really good ideas.

 

[ivinsfan]

Both really good ideas. (Silver, not gold, but the point is valid.)

Yes it is a silver plan but I was thinking about the Gold they would save,.. I'll fix it.

 

[FIREd]

After subsidy, we'll pay nothing for our Bronze HSA plan next year. It is a strange situation, but I am not feeling guilty about it. I don't make the law, I just follow it. We budget as if we don't get subsidies and save any subsidy tax credit we receive to help cushion future health insurance premium increases.

 

[DektolMan]

Thanks everyone for your replies and this is what are plans are also, I certainly don't feel guilty, just think the law was poorly written.

 

[RunningBum]

Thanks everyone for your replies and this is what are plans are also, I certainly don't feel guilty, just think the law was poorly written.

You mentioned your wife did feel guilty, so we assumed that was the problem to address.

 

[DektolMan]

Well she feels a little guilty but then I remind her how our other insurance was cancelled, and we lost a doctor due to not accepting ACA, and that guilty feelings seem to go away!

 

[ivinsfan]

Remind her this situation might not continue and you might need that money to pay for future insurance.

 

[DektolMan]

I did mention that to her and we are now in agreement to take the least expensive Bronze plan and the money saved will be used for future healthcare needs.

 

[LastOfTheBoomers]

We had a bronze plan for the 2014 and 2015 then was able to get some HI via a part time job. I have been tracking the rates each year since - for 2018 they don’t offer the Bronze - just silver and above - didn’t see that coming.
There is another company that offers bronze - but we would have to change our doctors and hospital.

So if you go with bronze - it may not be there next year.