Join Early Retirement Today
View Poll Results: What type of health insurance are you purchasing using post RE and pre medicare
No insurance 2 2.74%
HDHP with subsidy 10 13.70%
HMO with subsidy 4 5.48%
PPO with subsidy 3 4.11%
silver with subsidy 12 16.44%
gold with subsidy 0 0%
platinum with subsidy 0 0%
Employer plan with subsidy 14 19.18%
HDHP without subsidy 6 8.22%
HMO without subsidy 1 1.37%
PPO without subsidy 5 6.85%
silver without subsidy 2 2.74%
gold without subsidy 2 2.74%
platinum without subsidy 1 1.37%
Employer plan without subsidy 11 15.07%
Voters: 73. You may not vote on this poll

Reply
 
Thread Tools Search this Thread Display Modes
Old 11-05-2015, 03:23 PM   #21
Thinks s/he gets paid by the post
sengsational's Avatar
 
Join Date: Oct 2010
Posts: 3,828
Bronze HSA eligible from the exchange with PTC. Income at about 250% FPL.

I've checked it out on i-orp and putting PTC ahead of Roth conversions makes sense for me.

If you're in PTC territory, you probably should keep on the low side because you lose PTC money at a pretty steep rate as your income goes up. See: The 29% Bracket in Roth Conversions
__________________

__________________
sengsational is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 11-05-2015, 03:31 PM   #22
Moderator
Walt34's Avatar
 
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 16,511
I just started Medicare last spring but before that it was an employer subsidized plan. My cost went up after retirement (I pay 30% of premium vs. 20% before) but we can keep it for life, it becomes secondary to Medicare at 65.

All those midnight shifts are paying off.
__________________

__________________
I heard the call to do nothing. So I answered it.
Walt34 is offline   Reply With Quote
Old 11-05-2015, 03:32 PM   #23
Thinks s/he gets paid by the post
 
Join Date: Dec 2014
Posts: 1,657
Quote:
Originally Posted by audreyh1 View Post
Many of the non HSA plans have the same high deductible or close, and similar max OOPs. You might get some help with a few initial copays, but if any serious bills start coming in there won't be much difference.
My situation is such that every 8 to 10 years I can expect to blow through the deductible and depending on the plan, the max OOP too. If I get a plan with co-pays (not co-insurance) I may be able to keep below the max OOP. All this is just because a battery will run down in my pacemaker. I would expect this should be predictable.
__________________
bingybear is online now   Reply With Quote
Old 11-05-2015, 04:37 PM   #24
Thinks s/he gets paid by the post
 
Join Date: Dec 2014
Posts: 1,657
Quote:
Originally Posted by sengsational View Post
Bronze HSA eligible from the exchange with PTC. Income at about 250% FPL.

I've checked it out on i-orp and putting PTC ahead of Roth conversions makes sense for me.

If you're in PTC territory, you probably should keep on the low side because you lose PTC money at a pretty steep rate as your income goes up. See: The 29% Bracket in Roth Conversions
I'll need to run your numbers again and look at the trade offs as I go to the top of the 15% bracket. I remember that plot you did. It could be tough to keep at 200%FPL over the long haul. If I remove my income for the first couple months, I did stay in that range with most income being dividend and most of that qualified. I have enough losses to negate any capital gains. Not sure I can do this for the next 10 years without restricting my investments which may be a worse penalty than the tax.
For this year and next I will be mostly on COBRA, so little to none PTC to consider.
__________________
bingybear is online now   Reply With Quote
Old 11-05-2015, 04:46 PM   #25
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 16,411
I did not vote because we are none of the above. We have a catastrophic HDHI plan with no subsidies that is PPO.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
pb4uski is offline   Reply With Quote
Old 11-05-2015, 04:55 PM   #26
Thinks s/he gets paid by the post
Cobra9777's Avatar
 
Join Date: Jul 2012
Location: Texas
Posts: 1,132
We don't qualify for ACA subsidies due to pensions and rental income. There's a little room for Roth conversions, but not much.

As a retiree, Megacorp pays 75% of my health insurance premium, based on years of service. The offerings are the same as when I was working: 3 BCBS PPOs (1 HSA-eligible) and 2 HMOs. I have the HSA-eligible HDHP with $1.5K deductible and $3K OOPM. This option has the lowest premium and a reasonable deductible at $1.5K. If I factor in the tax savings from the HSA contribution, my net cost is around $700 for the year.

DW is still working (OMY), and has a very nice silver plan with premium paid 100% by her employer. Her employer will pay 40% of the unsubsidized premium for that same plan after retirement.
__________________
Retired at 52 in July 2013. On to better things...
AA: 55% stock, 15% real estate, 27% bonds, 3% cash
WR: 2.0% SI: 2 pensions, some rental income, SS later
Cobra9777 is offline   Reply With Quote
Old 11-05-2015, 07:09 PM   #27
Recycles dryer sheets
 
Join Date: Feb 2014
Location: Medford
Posts: 68
My husband and I are retiring at the end of December for him and the beginning of January for me. We will have COBRA coverage to start with, which is quite affordable, but once we move out of state, our plan is ACA perhaps a Gold plan but we may need to go Silver. We will not qualify for any subsidies. I will do more research on this early next year.
__________________
SDHiker is offline   Reply With Quote
Old 11-05-2015, 09:00 PM   #28
Thinks s/he gets paid by the post
nun's Avatar
 
Join Date: Feb 2006
Posts: 4,835
I don't have enough income to get ACA coverage, I qualify for Medicaid, but the state will pay 90% of the premium for my former employer's cadillac insurance plan so I keep that rather than going on Medicaid.....ironically my former employer is the same state that gives me the subsidy.
__________________
“So we beat on, boats against the current, borne back ceaselessly into the past.”

Current AA: 65% Equity Funds / 20% Bonds / 7% Stable Value /3% Cash / 5% TIAA Traditional
Retired Mar 2014 at age 52, target WR: 0.0%,
Income from pension and rent
nun is offline   Reply With Quote
Poll:Which type of health insurance do you use post RE
Old 11-07-2015, 02:26 PM   #29
gone traveling
 
Join Date: Oct 2007
Posts: 1,135
Poll:Which type of health insurance do you use post RE

No subsidy 2015 or 2016 due to deferred comp payout.

Family of 4

Bronze Plan.

900 per month premium for family of 4.

Annual 13500 max family deductible and OOP - 6000 per pax

No HSA eligibility

Expensive but no other reasonable choices.

Went with bronze - Decided to pay less premium and gamble that we don't have lots of OOP this year or next - If we do, we come out slightly behind a silver plan but I'm willing to take the gamble for now.

Key learning : Health insurance is Definitely not a set and forget but rather an open enrollment driven annual decision on what to do year by year.

Once we hit 2017, probability goes up that we will be able to manage cap gains, dividends, interest income. Part time job income and rental income to keep below the 400 percent of magi and will qualify for a small subsidy unless rules change. That's my plan anyway but let's see how that changes ....
__________________
papadad111 is offline   Reply With Quote
Old 11-07-2015, 04:40 PM   #30
Thinks s/he gets paid by the post
 
Join Date: Feb 2014
Posts: 1,471
ACA bronze plan. Ridiculous deductible and out of pocket expenses. Next year we'll switch to an HMO by necessity.

It appears that the local health networks are all getting in bed with the insurance companies by the names of the types of plans being offered. 😒


Sent from my iPhone using Early Retirement Forum
__________________
EastWest Gal is online now   Reply With Quote
Old 11-07-2015, 06:25 PM   #31
Recycles dryer sheets
 
Join Date: Sep 2007
Posts: 428
Gold80 PPO with Blueshield of CA, no deductible, $50 copayment specialist, $30 non specialist, no subsidy, $1,350/mo for couple.
Next year will be $1,360 but copayment will be higher by $5, prescription will be up as well.


Sent from my iPad using Early Retirement Forum
Mp
__________________
Disappointed is offline   Reply With Quote
Old 11-07-2015, 09:59 PM   #32
Recycles dryer sheets
Theseus's Avatar
 
Join Date: Aug 2013
Posts: 484
First criteria I needed to meet was HDHP/HSA compatibility. Secondary was Silver level since 2016 income is expected to be just below 2.5 x FPL, meaning we can have cost sharing applied. That narrowed the field from 47 down to 3 right quick. One choice was the same plan I had for 2015, but between our expected HC costs for 2016 being much less than 2015 (DW is greatly enjoying her new titanium knee) I am daring to go with a higher OOP plan with co-pays. Worst case could be higher, but most likely case will be 48% of 2015 total HC cost all-in including premiums. Heck, that 'savings' might just buy a European trip next fall.
__________________
Theseus is offline   Reply With Quote
Old 11-08-2015, 08:28 AM   #33
Thinks s/he gets paid by the post
sengsational's Avatar
 
Join Date: Oct 2010
Posts: 3,828
Quote:
Originally Posted by sengsational View Post
Bronze HSA eligible from the exchange with PTC. Income at about 250% FPL.

I've checked it out on i-orp and putting PTC ahead of Roth conversions makes sense for me.

If you're in PTC territory, you probably should keep on the low side because you lose PTC money at a pretty steep rate as your income goes up. See: The 29% Bracket in Roth Conversions
Re-reading the OP (adding the why/alternatives), I'll add:

My experience on the federal exchange for NC indicated that if I went below 250%, I was swept into Medicaid. Not only did I not want to be in that group, even if I did apply, it would take many months, and I'd probably be rejected.

Going Silver with cost sharing didn't make sense because even if they covered 100% of our expected (very few) doctor visits, Bronze was cheaper due to lower premiums.

Going Catastrophic wouldn't save enough on premiums to make up for the fact that you don't get the PTC with catastrophic. Besides, I didn't want to try to jump through the hoops to do the over 30 permission thing.
__________________
sengsational is offline   Reply With Quote
Old 11-09-2015, 08:19 AM   #34
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 16,411
I have posted a number of times that we took advantage of a provision of Obamacare that allows people for whom the lowest cost bronze plan available to them exceeds about 8% of their income to buy catastrophic health insurance even if they are over 30.

It works well for us because health insurance in our state is not age rated and premiums for catastrophic coverage are about 40% lower than the lowest cost bronze plan.

I'm curious... is anyone else doing this? Has anyone else explored the option but it didn't work... and if so, why?
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
pb4uski is offline   Reply With Quote
Old 11-09-2015, 09:37 AM   #35
Thinks s/he gets paid by the post
sengsational's Avatar
 
Join Date: Oct 2010
Posts: 3,828
Quote:
Originally Posted by pb4uski View Post
I'm curious... is anyone else doing this? Has anyone else explored the option but it didn't work... and if so, why?
A long time ago, your success in this area got me to look at this option, but it didn't look like a good deal for me. Although I forgot exactly what about it didn't work, I just did a little analysis again and here's how it played-out....

The first issue I had was pricing a catastrophic plan; healthcare.gov doesn't provide it if your age is >= 30. So, to provide a wildish guess, I priced a silver and a bronze policy at ages 27 and 29, then priced those same policies at 56 and 58. I discovered the factor 2.25: If the "young" policy price was multiplied by 2.25, it yielded the price of the "old" policy. Hitting the catastrophic "young" price by 2.25 came up to 90% of what I'm paying for the Bronze...not much of a savings. So instead of the 0.4 you're getting, I'm getting a 0.9. The price on the "old" catastrophic might not be right, though. How did you even get the price on the catastrophic given age >30?
__________________
sengsational is offline   Reply With Quote
Old 11-09-2015, 09:51 AM   #36
Full time employment: Posting here.
 
Join Date: Jan 2014
Posts: 662
Quote:
Originally Posted by pb4uski View Post
I'm curious... is anyone else doing this? Has anyone else explored the option but it didn't work... and if so, why?
The after subsidy Bronze HSA premium is half the Cat plus I get HSA tax savings.

Quote:
Originally Posted by sengsational View Post
The first issue I had was pricing a catastrophic plan; healthcare.gov doesn't provide it if your age is >= 30.

How did you even get the price on the catastrophic given age >30?
2016 Cat's for all ages should be uploaded to the exchange by month end. I will post when they are up.
__________________
MBSC is offline   Reply With Quote
Old 11-09-2015, 03:55 PM   #37
Recycles dryer sheets
Beldar's Avatar
 
Join Date: Oct 2014
Posts: 346
Like bingybear, DW & I are using our COBRA and will probably extend for next year. I like the fact that there are no income restrictions and it is abt $500/month more than a subsidized Silver plan if we restrict our income in order to meet that requirement.

Our COBRA plan is equivalent to an ACA GOLD level. I will maximize income up to the top of the 15% bracket this year and next, then go with an ACA plan and play the subsidy game on alternating years.

I suspect that in light of the premium increase trends and consolidations so far in the ACA that a single provider solution may be in the not to distant future. Especially if more younger folks blow off insurance and just pay the penalty.
__________________
Beldar is offline   Reply With Quote
Old 11-09-2015, 09:54 PM   #38
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 16,411
Quote:
Originally Posted by sengsational View Post
A long time ago, your success in this area got me to look at this option, but it didn't look like a good deal for me. Although I forgot exactly what about it didn't work, I just did a little analysis again and here's how it played-out....

The first issue I had was pricing a catastrophic plan; healthcare.gov doesn't provide it if your age is >= 30. So, to provide a wildish guess, I priced a silver and a bronze policy at ages 27 and 29, then priced those same policies at 56 and 58. I discovered the factor 2.25: If the "young" policy price was multiplied by 2.25, it yielded the price of the "old" policy. Hitting the catastrophic "young" price by 2.25 came up to 90% of what I'm paying for the Bronze...not much of a savings. So instead of the 0.4 you're getting, I'm getting a 0.9. The price on the "old" catastrophic might not be right, though. How did you even get the price on the catastrophic given age >30?
To be clear, the cat premiums are 0.6 of the bronze plan (0.4 off from the bronze plan). I could get the price because premiums are not age rated in our state.. so for any plan... gold, silver, bronze or cat.... all ages pay the same premium.

So if I understand you correctly then you are saying in your state that a cat policy for a 29 year old is only 10% lower than a bronze plan for a 29 year old?
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
pb4uski is offline   Reply With Quote
Old 11-09-2015, 09:58 PM   #39
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 16,411
Quote:
Originally Posted by SCGamecock View Post
The after subsidy Bronze HSA premium is half the Cat plus I get HSA tax savings.

2016 Cat's for all ages should be uploaded to the exchange by month end. I will post when they are up.
Different situation for me. I decided that the tax benefits of doing Roth conversions and spending less time in the 25% tax rate once RMDs begin exceed the benefit of the subsidy (even if I was paying for a bronze plan). The fact that I can buy a cat plan for 40% less than the bronze plan was an unanticipated bonus.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
pb4uski is offline   Reply With Quote
Old 11-10-2015, 07:43 AM   #40
Thinks s/he gets paid by the post
sengsational's Avatar
 
Join Date: Oct 2010
Posts: 3,828
Quote:
Originally Posted by pb4uski View Post
So if I understand you correctly then you are saying in your state that a cat policy for a 29 year old is only 10% lower than a bronze plan for a 29 year old?
My math got messed up somewhere...it's actually about 17% cheaper (for the young couple, $502 cat, $608 bronze). To make it apples-to-apples, it's comparing the bronze from UHC with the catastrophic, also from UHC.
__________________

__________________
sengsational is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Poll: Will you need/use an ACA subsidy for health insurance? LOL! Health and Early Retirement 53 11-10-2014 07:45 AM
Cataract Surgery...which type of lens? TrvlBug Health and Early Retirement 64 02-23-2014 11:58 PM
which company should i use for my 403b? can't use vanguard. check out my choices dooo42 FIRE and Money 8 12-04-2010 02:16 PM

 

 
All times are GMT -6. The time now is 07:20 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.