LRDave
Thinks s/he gets paid by the post
I started an ACA thread that got (rightly) porkied - primarily to see what folks thought about my two options for my HI after employee-paid COBRA expires.
He was (is) my sich:
"My specific concern is that come July, I've got to pick a horse to ride. I will come off of employer-sponsored health insurance. My two options are:
1) ACA marketplace
2) Join DW's state retirees health care plan.
Option 2 sounds like it would be great, but it isn't. Until DW turns 60 (July 2020) the rate is basically COBRA rates - very high for a pretty sorry plan. Add me to the mix and it is VERY high. Even the reduced rates for both of us once she turns 60 are just OK.
With option 1, I think we can manage MAGI nicely until I turn 65. Currently ACA quotes are FAR cheaper for me.
I only get one chance to join DW's plan, I think, because I don't see any qualifying events for me between now and me turning 65.
The numbers say ACA, but I was wondering what sort of risk factor we'll have. Wonder if loss of ACA in my state would be a "qualifying event"?"
I've decided to bite the bullet and join DW's SHBP. For a Bronze plan, we will basically be paying the retiree+spouse COBRA price of $1283/month for the next 12 months (ouch). Not sure what the 2020 rates will be, but the 2019 retiree+spouse subsidized plan (which starts at age 60 for the retiree) is $216/month for the same Bronze plan.
The numbers are one thing (favoring me choosing ACA assuming ACA in my state tracks about the same level of increase for the next 4 years).
I went the other way because:
1) Looking again at the numbers for using my already taxed "dry powder" to manage MAGI made me a little uncomfortable.
2) I'm more confident projecting the SHBP costs for the next 5 years than I am projecting a combo of SHBP + ACA costs. I think ACA disruption/interruption is more likely than radical change to the SHBP (Georgia is reasonably well funded).
I know errbody was hanging by a thread wanting to know what direction I took.
He was (is) my sich:
"My specific concern is that come July, I've got to pick a horse to ride. I will come off of employer-sponsored health insurance. My two options are:
1) ACA marketplace
2) Join DW's state retirees health care plan.
Option 2 sounds like it would be great, but it isn't. Until DW turns 60 (July 2020) the rate is basically COBRA rates - very high for a pretty sorry plan. Add me to the mix and it is VERY high. Even the reduced rates for both of us once she turns 60 are just OK.
With option 1, I think we can manage MAGI nicely until I turn 65. Currently ACA quotes are FAR cheaper for me.
I only get one chance to join DW's plan, I think, because I don't see any qualifying events for me between now and me turning 65.
The numbers say ACA, but I was wondering what sort of risk factor we'll have. Wonder if loss of ACA in my state would be a "qualifying event"?"
I've decided to bite the bullet and join DW's SHBP. For a Bronze plan, we will basically be paying the retiree+spouse COBRA price of $1283/month for the next 12 months (ouch). Not sure what the 2020 rates will be, but the 2019 retiree+spouse subsidized plan (which starts at age 60 for the retiree) is $216/month for the same Bronze plan.
The numbers are one thing (favoring me choosing ACA assuming ACA in my state tracks about the same level of increase for the next 4 years).
I went the other way because:
1) Looking again at the numbers for using my already taxed "dry powder" to manage MAGI made me a little uncomfortable.
2) I'm more confident projecting the SHBP costs for the next 5 years than I am projecting a combo of SHBP + ACA costs. I think ACA disruption/interruption is more likely than radical change to the SHBP (Georgia is reasonably well funded).
I know errbody was hanging by a thread wanting to know what direction I took.
