The election and the Republican promise of ACA repeal leaves me with some questions.
Situation - my DW has a pre-existing condition (cancer). I retired 10/2015 and have been on cobra which I can extend until 4/2017.
If nothing changed then my plan was to change to ACA insurance at the end of this year (even though it is more expensive than the cobra plan). By doing this I was going to avoid paying 2017 deductible for the cobra plan through April then having to pay 2017 deductible again if with a new ACA plan which would start in 5/2017.
Republicans have promised that repeal of ACA will be one of the first things on the agenda when Trump is in office. My assumption is that this would eliminate my ability to get insurance given the pre-existing condition. So here are my options:
1. Keep to my original plan - Move to ACA plan at the end of this year and hope that they will grandfather those of us who are already on an ACA plan. The problem with this is that I don't want my coverage eliminated mid-year and have to scramble to find a job to get insurance coverage.
2. Keep the Cobra Plan until 4/2017 and then switch in 5/17. It allows me to keep coverage for as long as possible with no fear of losing coverage. Then I either get a job to get insurance or assume that there will be either an alternative Republican plan that covers pre-existing conditions or that they do not repeal ACA by this time.
3. Go back to work immediately to get health insurance - Since I am relatively FI I hate this idea but I worry that it may be the best option given my situation.
Which option is best? Are there other options that I am missing? It seems to me that in any scenario I will end up having to go back into the work force in the end to get health coverage. "Just when I thought I was out, they pull me back in"
Please let me know your thoughts.
Global1
Situation - my DW has a pre-existing condition (cancer). I retired 10/2015 and have been on cobra which I can extend until 4/2017.
If nothing changed then my plan was to change to ACA insurance at the end of this year (even though it is more expensive than the cobra plan). By doing this I was going to avoid paying 2017 deductible for the cobra plan through April then having to pay 2017 deductible again if with a new ACA plan which would start in 5/2017.
Republicans have promised that repeal of ACA will be one of the first things on the agenda when Trump is in office. My assumption is that this would eliminate my ability to get insurance given the pre-existing condition. So here are my options:
1. Keep to my original plan - Move to ACA plan at the end of this year and hope that they will grandfather those of us who are already on an ACA plan. The problem with this is that I don't want my coverage eliminated mid-year and have to scramble to find a job to get insurance coverage.
2. Keep the Cobra Plan until 4/2017 and then switch in 5/17. It allows me to keep coverage for as long as possible with no fear of losing coverage. Then I either get a job to get insurance or assume that there will be either an alternative Republican plan that covers pre-existing conditions or that they do not repeal ACA by this time.
3. Go back to work immediately to get health insurance - Since I am relatively FI I hate this idea but I worry that it may be the best option given my situation.
Which option is best? Are there other options that I am missing? It seems to me that in any scenario I will end up having to go back into the work force in the end to get health coverage. "Just when I thought I was out, they pull me back in"
Please let me know your thoughts.
Global1
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