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Old 11-27-2015, 06:39 PM   #21
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Originally Posted by ShokWaveRider View Post
This is my first year where I have had to buy my own Health Insurance, although I have been FIRED for about 5 years my wife always worked... for healthcare, she retired this year.

I think I got a pretty good plan here in Florida with Florida Blue. We are fortunate we can control out income in retirement.

$350pm for both of us Ages 62 and 57 respectively.

We can not find any insurance for 2016 for under $1100 PM..... I am 53 and my wife is 61...... we are in Florida..... Where do you find affordable insurance
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Old 11-28-2015, 07:11 AM   #22
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We can not find any insurance for 2016 for under $1100 PM..... I am 53 and my wife is 61...... we are in Florida..... Where do you find affordable insurance
If you do not qualify for premium subsidies, you can obtain a hardship exemption from the exchange to qualify for a Catastrophic Plan if the least expensive Bronze plan is more than 8.05% of your MAGI. You can find the Catastrophic Plans below.

Off-Exchange Plan Finder

Using zip code 33908 in Ft. Myers area, there are Cat plans in the $905-$1005 range.
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Old 11-28-2015, 07:56 AM   #23
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Originally Posted by ShokWaveRider View Post
This is my first year where I have had to buy my own Health Insurance, although I have been FIRED for about 5 years my wife always worked... for healthcare, she retired this year.

I think I got a pretty good plan here in Florida with Florida Blue. We are fortunate we can control out income in retirement.

$350pm for both of us Ages 62 and 57 respectively.
Curious, is that price with our without subsidy? Asking as wife and I will retire next year in Florida as well, we are 52 and 55. I looked at plans and lowest price I saw quoted was almost $800. Blue Cross plan was at least $1,000. These were with high deductible. Saw nothing that was priced anywhere near rate you were quoted.
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Old 11-28-2015, 09:27 AM   #24
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In my county (in NY) a catastrophic plan ranges from $125 to $278, this is for any age person (no age ratings in NY).
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Old 12-01-2015, 02:23 PM   #25
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2016 will be my first year on my own. I won't qualify for subsidy this year. Income will be too high. I'm trying to enroll in VTHealthConnect but so far have not been successful. I can go directly to BCBS and will do that if customer service on the Exchange doesn't get back to me soon. I'd like to be signed up so that I can use the Exchange if/when I can arrange to have low enough income to get a subsidy between 2016 and 2020 when I qualify for Medicare.
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Old 12-01-2015, 03:22 PM   #26
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After more than 1 week pondering the options and various ACA plans, I just signed up for a Bronze plan with the same insurer I have had.

I will save about $3,600 with this Bronze plan compared to the next Silver plan. The first has a deductible of $5,500 while the latter is $850, but I do not see myself using much health care next year.
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Old 12-01-2015, 03:47 PM   #27
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I've done all the preliminary work and it's just a matter of selecting a plan. I've whittled the choices down to two. Which one I go with will likely hinge on the results of an endoscopy this Thursday to evaluate my Barrett's condition. If it's stable I'll likely go with the lower cost plan without my GI doc in network for the first seven months in 2016 before I turn 65 and go on Medicare.
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Old 12-04-2015, 01:38 AM   #28
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Thanks to some input from this board, I used a broker for this, my first time signing up for an exchange based plan here in Washington state. I'm glad I chose that route, as there were several web site glitches while signing up that I wouldn't have known how to handle on my own.

Based on recommendations both from my broker and from a colleague, I signed up for Grouphealth Silver Plus, starting Jan 1, 2016.

My cost will be $250 a month, fully $400 lower than my current COBRA plan.
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Old 12-04-2015, 12:05 PM   #29
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I summoned up the courage to log on to the Washington ACA website, changed our income and signed up for a cost sharing silver PPO plan with Premera blue cross (nationwide network).

When presented with the various questions about income sources, I just put a monthly income of $1083 from dividends, interest and capital gains and a monthly income of $834 from IRA distributions. Their little minds are incapable of grasping concepts like budgets and saving, so you need to make things simple and monthly, even if you really do all of this the last month of the year.

Now I have 90 days or so to submit income verification for myself and spouse. My plan is to use Excel to generate some impressive looking spreadsheets that show monthly dividends from our investments and a schedule for selling some SPY where we have quite a bit of capital gains. I am also going to generate a spreadsheet that shows a monthly distribution from my traditional IRA.

In reality, the dividends will happen randomly and I may decide to sell the SPY in December 2015 instead of every month. I will convert the IRA distribution to a Roth and we will live off of already taxed savings. Do they need to know any of this? My guess is no.
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Old 12-04-2015, 01:31 PM   #30
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We can not find any insurance for 2016 for under $1100 PM..... I am 53 and my wife is 61...... we are in Florida..... Where do you find affordable insurance

I picked the cheapest bronze plan from Florida Blue, $446/mon...


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Old 12-04-2015, 02:08 PM   #31
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DW, DD, and I just renewed a Bronze HMO plan with HSA eligibility. Next year's rate is $1466/month, nicely in like with the pre-retirement projection at a 7.5% medical inflation rate that put 2016 health insurance at $17,500.
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Old 12-04-2015, 03:07 PM   #32
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Signed up for Blue Cross of Tennessee Bronze Plan (multi state) for me and DH with a 1350.00 monthly premium and already paid the January premium.


So much unknown for us next year so I stated income about the subsidy level. Hopefully our income will be much less when we retire mid year and we will be eligible for subsidies at tax time.


Funny thing about this multi state plan it includes all drs and hospitals in the state but where you live determines your premium. We live in a small city so the premium is 1350.00. Once we retire and move to another city in our state the same plan with the same drs. and hospitals is 1250.00 month. If we move to a larger city near us with the same plan the premium is 1050.00. It seems like living in smaller cities and rural areas work against you.
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Old 12-04-2015, 04:30 PM   #33
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Funny thing about this multi state plan it includes all drs and hospitals in the state but where you live determines your premium. We live in a small city so the premium is 1350.00. Once we retire and move to another city in our state the same plan with the same drs. and hospitals is 1250.00 month. If we move to a larger city near us with the same plan the premium is 1050.00. It seems like living in smaller cities and rural areas work against you.
No, it isn't that, it is your proximity to the lowest cost network. If you can find a place in your state that is out of network for the lower cost plans but has the plan you want, then that will be the cheapest place to buy your plan.

Make any sense?
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Old 12-04-2015, 04:41 PM   #34
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We're on Medicare and a supplement, but I pay for an individual BCBS policy with medicine and dental coverage for my 28 year old daughter. It went from $253 to $290 for 2016 per month. The deductibles are reasonable, and they lose money on her every month.
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Old 12-06-2015, 08:49 AM   #35
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I signed up for the ACA Wednesday and paid for it Friday. $500 for DW, DS and me (53, 19 and 56 respectively) with a $500 deductible per person and max OOP for the family of $1400. I went through BCBSNC and dealt with a broker. They took my projected income and the confirmation shows that they accepted the income without and further info needed. My income in 2015 will be about 250k and in 2016 about 30k. It was easy.


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Old 12-06-2015, 10:17 AM   #36
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I whittled it down to the "best" of each of the Bronze and Silver plans. Then using out of pocket medical expenses in $1k increments from $2k to 11K plugged in the total cost in terms of total premiums and max OOP.

The way I interpret the results is that the sweet spot for the Silver plan is when OOP is in the $6k to $7k range. Otherwise I might as well go with the Bronze.

However looking at it another way, the Silver plan premium is $1764 higher annually than the Bronze plan. To me there is no instance where the higher Silver plan premium is justified. Does it make financial sense to pay an additional $1764 in premiums for the Silver plan to "insure" against the at most $1036 cost avoidance? I'm thinking probably not.

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Old 12-06-2015, 10:33 AM   #37
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I whittled it down to the "best" of each of the Bronze and Silver plans. Then using out of pocket medical expenses in $1k increments from $2k to 11K plugged in the total cost in terms of total premiums and max OOP.

The way I interpret the results is that the sweet spot for the Silver plan is when OOP is in the $6k to $7k range. Otherwise I might as well go with the Bronze.

However looking at it another way, the Silver plan premium is $1764 higher annually than the Bronze plan. To me there is no instance where the higher Silver plan premium is justified. Does it make financial sense to pay an additional $1764 in premiums for the Silver plan to "insure" against the at most $1036 cost avoidance? I'm thinking probably not.
Why do you compare the two plans but have a higher MAGI for the silver plan pricing vs the bronze plan?

Also, the advantage to the silver seems reasonable if you usually end up having around $6k of medical expenses per year (saves you over $1000).

The bronze plan max OOP for a couple seems low. You have it as 6,000 where I thought it might be more like $12,000.
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Old 12-06-2015, 10:59 AM   #38
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Why do you compare the two plans but have a higher MAGI for the silver plan pricing vs the bronze plan?
I understand the MAGI difference all to well. Goes under the category of "If I knew then what I know now" because most of our retirement funds are in pre-tax accounts. In this case taking distributions of another $1,764 means, I'll guess here, another $176 in federal taxes, maybe $80 in state. And pulling that additional income to cover those higher expenses, means MAGI goes up, and that means subsidy goes down, which means more income required, and so on. My spreadsheet modeling had my tax rate somewhere around 33% if accounting for subsidy loss due to income increase, even though we were just tickling the bottom of the 15% rate. For us, in the end I opt to live a little larger and carry the better silver insurance. As my DM puts it, leaving a little bit more for the folks that really need it is a good thing.
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Old 12-06-2015, 11:10 AM   #39
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The devil is in the details. The OMAGI is higher with the Silver plan because the Silver is not HSA-eligable. Contributing to an HSA reduces the OMAGI, increases the subsidy and reduces the premium.

If I knew with certainty that my medical expenses would be $6k then yeah the Silver makes sense. But therein lies the problem. I dont know what they will be.

The OOP is in fact for a 2 person household. But only I am covered by ACA. DW is covered under Medicare.
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Old 12-06-2015, 04:03 PM   #40
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I signed up for a Blue Choice HMO, supposedly HSA eligible, with a 6500 deductible and a 372$ a month charge. Supposedly everything after the 6500$ deductible is covered. I haven't had an HMO in 20 years, and it was not a good experience. OTOH, I'm not really sure that an HMO necessarily means substandard health care any more. I'm in MD, we have some good hospitals here, that supposedly take all plans. I looked at all the plans, and it seems to me the diff financially between a silver and gold plan is a large percentage is covered up front, but that you pay for that in increased premiums so it is a trade off between paying more up front - or paying the deductible in full if you have a major health issue. If you see a doctor a lot or have lots of prescription drugs (not me so far), maybe the other plans are better.

Another thing that bothers me about the other plans is that many have the 80/20 payments, so that you end up paying 20% of the cost, even perhaps after the deductible is met. Perhaps how people go broke with a health emergency even if they thought they had good coverage. At least with an HMO, anything in network is supposedly covered.

I didn't apply for a subsidy (ignored that question), but perhaps next year. My one concern is that though I signed up for health care on the exchange, I haven't received an invoice or notice from the carrier. Hoping to get that soon.

As for if ACA is appealed, I don't see what they are going to do for people who perhaps gave up other plans where they had a history, and throw them to the wolves of no coverage for prior conditions or whatever. That would be enormously unpopular. I can see them curtailing coverage in future, or making plans more expensive. But if they become so catastrophically expensive that an average US income earner can't afford one, well that would be unpopular too. Whatever ACA is replaced with, it's going to have to be reasonably practical/acceptable to both parties or it won't pass. Perhaps it is better to be in on ACA now in some respects, in case it is repealed. It might make one eligible for some future grandfathering.
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