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Obamacare
Old 02-10-2013, 04:17 PM   #1
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Obamacare

Does anybody have any idea what the ACA is going to cost. It looks like my past employer (City of Chicago) is going to transition us into Obamacare possibly as soon as the exchanges open in 2014. I've tried to research it but cannot get a handle on what it might cost someone that is over the 400% federal poverty level.
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Old 02-10-2013, 04:20 PM   #2
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Google "berkeley national health insurance calculator"
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Old 02-10-2013, 04:45 PM   #3
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Google "berkeley national health insurance calculator"
Just checked out the berkeley calculator. So my situation is for 2 people in mid 50's. Get this now....If my income was 60,000 I would be at the 397% federal poverty level. My premium with subsidy per month would be 475 dollars. If we go to 61,000 I would be over 400% federal poverty level and my premium without subsidy would be 1542 dollars. The kicker is you can make well over 61,000 and beyond and premium is still 1542 dollars. Something doesn't add up here. Sounds to me the middle class is still getting screwed.
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Old 02-10-2013, 05:04 PM   #4
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Sounds to me the middle class is still getting screwed.
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Old 02-10-2013, 05:29 PM   #5
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I was surprised to see the step function in the subsidy. But I guess that means more income management but should still be doable for most in middle class.
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Old 02-10-2013, 06:39 PM   #6
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Step-wise financial function on ACA has been widely discussed on various health &financial forums. For those around 400% of poverty level using MAGI it could be VERY significant.
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Old 02-10-2013, 07:16 PM   #7
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I've heard on the radio for a family of 4 the cheapest policy will be $20,000. There wasn't any mention of the income of that family.
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Old 02-10-2013, 07:36 PM   #8
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Another odd thing I noticed with the calculators is that insurance for 1 is less than 1/2 the cost for 2. @ $61K for 2 is $1300, for 1 it is $474...

However I am glad to be able to have access to HI.
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Old 02-10-2013, 08:23 PM   #9
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Google "berkeley national health insurance calculator"
Here's link to actual Berkeley calculator-
National Health Care Calculator

BUT- that site was last updated back in June & figures given are their own estimates. And it only gives one cost of insurance, while ACA will include options for levels of coverage (deductibles, copays, etc).
AND- This calculator gives somewhat different results-
http://healthreform.kff.org/Subsidycalculator.aspx

AFAIK the actual insurance costs on Exchanges for implementation next yr (Oct '13 sign-up for Jan 2014 start) are not yet known.
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Old 02-10-2013, 08:26 PM   #10
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Does anybody have any idea what the ACA is going to cost. It looks like my past employer (City of Chicago) is going to transition us into Obamacare possibly as soon as the exchanges open in 2014. I've tried to research it but cannot get a handle on what it might cost someone that is over the 400% federal poverty level.
the city of chicago is going to put employees in exchanges? is that right ?


you might look at massachusettes health connector. also i read that under the law the employee is subsidized more than the rest of the family.
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Old 02-10-2013, 08:29 PM   #11
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Another odd thing I noticed with the calculators is that insurance for 1 is less than 1/2 the cost for 2. @ $61K for 2 is $1300, for 1 it is $474...

However I am glad to be able to have access to HI.
employee subsidized more thanfamily?
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Old 02-10-2013, 09:05 PM   #12
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Old 02-10-2013, 10:11 PM   #13
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Another odd thing I noticed with the calculators is that insurance for 1 is less than 1/2 the cost for 2. @ $61K for 2 is $1300, for 1 it is $474...

However I am glad to be able to have access to HI.
As I understand it all these calculators are based upon 2 options - single adult or a family of 4 with 2 adults and 2 children. So, when you put in 2 adults it is really quoting the same that it would quote for a family with 2 children or 3 children for that matter. I think that when the actual numbers come out you will be able to do different family sizes.

I am curious about one thing.

If you put in for a single adult it bases subsidy eligibility based upon being in a one person family. If you put in family it is basing subsidy eligibility upon being in a 4 person family. I'm sure that when actual numbers come out this will be based upon actual family size. That is - if you are a 5 person family then the subsidy will be based upon that while a 2 person family will be based upon 2.

What I haven't seen are what happens in a couple of other situations that I think will be common:

1. Married couple. One spouse is under 65 and one is over 65 so on medicare. The younger spouse can buy insurance for a single person but will the subsidy be based upon a 1 person family or 2 person family? Only 1 person is buying insurance but that younger spouse is in a family with 2 people....

2. Married couple with adult children in college. Does that 20 year old buy an individual policy or does the family buy a family policy? Does this depend on if the adult child is a dependent?

At this point this is mostly academic information for me. DH is on medicare and the kids and I have retiree coverage through his former employer. However, I realize it is possible (maybe even likely) that the employer at some point will drop the retiree coverage.
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Old 02-11-2013, 05:37 AM   #14
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We should know in Oct of this year the cost of individual health care policies offered in the state exchanges. Here's is Kaiser Foundation's view on what they expect the cost to be Why Premiums Will Change for People Who Now Have Nongroup Insurance

I got a quote from the Mass state exchange, using a Boston zip code. For sure my price in Fl will be different but probably in the same range. https://www.mahealthconnector.org/portal/site/connector
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Old 02-11-2013, 10:34 AM   #15
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As I understand it all these calculators are based upon 2 options - single adult or a family of 4 with 2 adults and 2 children. So, when you put in 2 adults it is really quoting the same that it would quote for a family with 2 children or 3 children for that matter. I think that when the actual numbers come out you will be able to do different family sizes.

I am curious about one thing.

If you put in for a single adult it bases subsidy eligibility based upon being in a one person family. If you put in family it is basing subsidy eligibility upon being in a 4 person family. I'm sure that when actual numbers come out this will be based upon actual family size. That is - if you are a 5 person family then the subsidy will be based upon that while a 2 person family will be based upon 2.

What I haven't seen are what happens in a couple of other situations that I think will be common:

1. Married couple. One spouse is under 65 and one is over 65 so on medicare. The younger spouse can buy insurance for a single person but will the subsidy be based upon a 1 person family or 2 person family? Only 1 person is buying insurance but that younger spouse is in a family with 2 people....

2. Married couple with adult children in college. Does that 20 year old buy an individual policy or does the family buy a family policy? Does this depend on if the adult child is a dependent?

At this point this is mostly academic information for me. DH is on medicare and the kids and I have retiree coverage through his former employer. However, I realize it is possible (maybe even likely) that the employer at some point will drop the retiree coverage.
I have some of the same questions and have been unable to find answers. In Ohio we have a the cleverly named "Office of Health Care Transformation" Current Initiatives

I emailed someone from their list of contacts and have not received a response. I signed up for their email updates and I'll let you know if I ever get any relevant information. My feeling is that a lot of this is being designed as they go along which is hard for those of us that plan ahead and like real numbers.
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Old 02-11-2013, 10:58 AM   #16
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Originally Posted by Katsmeow View Post

What I haven't seen are what happens in a couple of other situations that I think will be common:

1. Married couple. One spouse is under 65 and one is over 65 so on medicare. The younger spouse can buy insurance for a single person but will the subsidy be based upon a 1 person family or 2 person family? Only 1 person is buying insurance but that younger spouse is in a family with 2 people....

2. Married couple with adult children in college. Does that 20 year old buy an individual policy or does the family buy a family policy? Does this depend on if the adult child is a dependent?
The amount one is expected to contribute is determined by family size, then applied to the individual when applying on a state exchange, assuming all other eligibility criteria are met. So, for the couple with one spouse on Medicare, if their combined family income is less than 4x the FPL, the other spouse would be eligible for premium subsidy. The spouse on Medicare is no differ than a spouse receiving employer healthcare.

The 20 year old is eligible to stay on the parent's family policy until age 26 regardless of dependency status.
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Old 02-11-2013, 11:05 AM   #17
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The 20 year old is eligible to stay on the parent's family policy until age 26.
I know that. Currently, in fact, our 21 year old son who is on his own (not our dependent) is on our policy which is fine since we pay the same cost for that policy whether there is one child on it or 3 children.

I am really wondering if it is required.

Let's pretend for a moment that my only child was my 18 year old son who lives at home and is my dependent and that we didn't have retiree insurance through DH's former employer. DH is on medicare. I'm not. It is possible that the rate for me to buy and individual policy and the rate for my son to buy an individual policy would be less than the rate for a family policy. Could we do that or would we be required to buy a family policy?

What if my only child was my 21 year old son who doesn't live in my household and isn't my dependent? Could he buy his own policy or would I be forced to buy a family policy because he could be on my policy?
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Old 02-11-2013, 12:11 PM   #18
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Looking at my W2 the cost of health insurance for my DH and I the costs quoted on those websites for Obamacare is pretty close so for me there's not that much surprise.

Lots of others found the same in this thread:
Health care insurance costs now on W-2


The only thing that is a bit surprising is the full (and signifincant) drop off of the subsidy at exactly 400% FPL. Hopefully that will change a bit but for retirement calculations I'm not counting on it.
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Old 02-11-2013, 12:24 PM   #19
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The 20 year old is eligible to stay on the parent's family policy until age 26 regardless of dependency status.
If you are receiving HI from a mega-corp as a retiree, that coverage for your dependent child until age 26 is not mandatory, as the law only applies to HI provided by mega-corp to its current employees, not retirees. The only exception to this is if you happen to have worked for a benevolent mega-corp that agrees to provide such coverage anyway. Just another wrinkle in the ACA.
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Old 02-11-2013, 04:14 PM   #20
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I know that. Currently, in fact, our 21 year old son who is on his own (not our dependent) is on our policy which is fine since we pay the same cost for that policy whether there is one child on it or 3 children.

I am really wondering if it is required.

Let's pretend for a moment that my only child was my 18 year old son who lives at home and is my dependent and that we didn't have retiree insurance through DH's former employer. DH is on medicare. I'm not. It is possible that the rate for me to buy and individual policy and the rate for my son to buy an individual policy would be less than the rate for a family policy. Could we do that or would we be required to buy a family policy?

What if my only child was my 21 year old son who doesn't live in my household and isn't my dependent? Could he buy his own policy or would I be forced to buy a family policy because he could be on my policy?
The only regulation I've seen is one that says the additional cost for an adult child on a family policy cannot be greater than the cost of similar coverage for an individual adult policy.

We can only speculate on the other things. Have you looked at how similar policies are priced in Mass. ? That should probably give you a rough idea for your pricing questions.
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