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Got insurance for FIRE
Old 03-11-2013, 02:12 PM   #1
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Got insurance for FIRE

The BCBS coverage my business pays for is over $1,000 a month for me, Mrs. Me and college kid. COBRA would be that plus 15%. So I was mildly worried.

I got a high deductible HSA policy for just over $700 a month for the 3 of use. The deductible is $5,000 per individual and $10,000 total. I think I can dump about $7,400 into it and take a tax deduction for the full amount, so it should work out. None of us are on meds, but I've had some serious, serious surgery in the past and will have to some day in the future, but hopefully not until I reach medicare age. In the interim, we get our annual checkups which remain free and I see a couple of specialists annually.

THis isn't cheap coverage, but its good coverage and if we can go a year or two without anything major (and we dont expect anything, but you never know), we'll be in good shape.

One less thing to check off my to do list before FIRE date of April 1!
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Old 03-11-2013, 03:28 PM   #2
Recycles dryer sheets
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Quote:
Originally Posted by 67walkon View Post
I got a high deductible HSA policy for just over $700 a month for the 3 of use. The deductible is $5,000 per individual and $10,000 total. This isn't cheap coverage, but its good coverage and if we can go a year or two without anything major (and we dont expect anything, but you never know), we'll be in good shape.

One less thing to check off my to do list before FIRE date of April 1!
Great that you got this coverage in place. Countdown to April 1, eh?

My previous employer filed for bankruptcy (primarily because retiree health care costs were so high - swell). We retirees were given the option of COBRA either as an HDHP or PPO. I worked out the numbers and it would cost us exactly the same per year with either plan. The thing that tipped the scale was the tax deductible HSA with the high deductible plan.

I found an administrator that invests in Vanguard funds, but their customer service is terrible.

Best of luck to you.
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Old 03-11-2013, 03:29 PM   #3
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It will be interesting to see how the Health Exchanges in ACA may affect ER's cost of HI.
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Old 03-16-2013, 02:59 PM   #4
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I had some health issues (but no hospitalizations) and after COBRA ran out, had to go into my state's high-risk pool (I knew they had to accept me). I pay $941 a month, for me. The Rx coverage is fabulous but the rest is to pay for bankruptcy insurance and get a discount on some doctor's visits... Medicare in June for about half that (including co pays and out of pocket expenses).
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