Join Early Retirement Today
Reply
 
Thread Tools Display Modes
18 months with no clear insurance plan
Old 11-06-2017, 05:49 AM   #1
Recycles dryer sheets
 
Join Date: Apr 2006
Location: Cleveland
Posts: 97
18 months with no clear insurance plan

Come March 2018, my COBRA runs out and then I need 18 months to get to Medicare. I know it is still early but I can't count on ACA being there.

(In my plans, I think I will need 1K per month for that in terms of premium. I am in good health so I will probably do an HSA bronze plan. I pay $479 for excellent coverage now-- the whole insurance situation sucks!)

Let's say there is no ACA or it is way more expensive than i budgeted. Are there other options people know about that I might access? Thanks for the help.
__________________
Josh
OHjosh 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 11-06-2017, 06:05 AM   #2
Thinks s/he gets paid by the post
 
Join Date: Jan 2014
Posts: 1,174
1) A j*b with health insurance.
2) Move to a state with ACA plans.
3) Health Care Sharing Ministries. Due diligence is required.
4) If you are still in good health at that time, a non-compliant Short-Term Medical (STM) plan but the following is required reading as part of your STM due diligence. https://www.bloomberg.com/news/artic...nditions-fight
MBSC is offline   Reply With Quote
Old 11-06-2017, 06:17 AM   #3
Thinks s/he gets paid by the post
Senator's Avatar
 
Join Date: Feb 2014
Location: Williston, FL
Posts: 3,925
Increase your income with a part time gig. Do something as a self-employed person so You at least get more tax write-offs for the income.

Healthcare is/was a known quantity. ACA will still be around, but will be expensive.

[mod edit] Get used to it.
__________________
FIRE no later than 7/5/2016 at 56 (done), securing '16 401K match (done), getting '15 401K match (done), LTI Bonus (done), Perf bonus (done), maxing out 401K (done), picking up 1,000 hours to get another year of pension (done), July 1st benefits (vacation day, healthcare) (done), July 4th holiday. 0 days left. (done) OFFICIALLY RETIRED 7/5/2016!!
Senator is offline   Reply With Quote
Old 11-06-2017, 06:26 AM   #4
Moderator
Aerides's Avatar
 
Join Date: Nov 2015
Posts: 13,879
You only need 18 months after March? You can count on it being there at very least thru the end of 2018. Then you only need 9 months, but I think there's a better than 90% chance ACA will be here to renew at the end of next year. Just plan on it being another 25% increase (which for a short term thing you can at least plan safely).
Aerides is offline   Reply With Quote
Old 11-06-2017, 06:46 AM   #5
Thinks s/he gets paid by the post
Rianne's Avatar
 
Join Date: Aug 2017
Location: Champaign
Posts: 4,690
We are 5 years out before Medicare kicks in. We're figured bite the bullet for 5 yrs. DH consulting income $50K which makes our HI much cheaper in 2018 than 2017. Before the ACA HI numbers were posted, the beginning of October, we just figured as guesstimate, 24K worse case scenario, per year. That's $18K more than we're paying for 2017 HI.

I started reading the articles from Kaiser and NYT, that the removal of Insurance subsidies would actually be better for low income people like us. Sort of a seesaw effect that was not considered, but turned out to be beneficial for us. So, for 2018 at least, we are in a much better position to save for HI increase in 2019-2023. But what will happen to Medicare? It's all up in the air.
__________________
"Do not go where the path may lead, go instead where there is no path and leave a trail."

Ralph Waldo Emerson
Rianne is offline   Reply With Quote
Old 11-07-2017, 06:56 AM   #6
Thinks s/he gets paid by the post
GTFan's Avatar
 
Join Date: Apr 2013
Location: Ormond Beach
Posts: 1,407
Quote:
Originally Posted by Aerides View Post
You only need 18 months after March? You can count on it being there at very least thru the end of 2018. Then you only need 9 months, but I think there's a better than 90% chance ACA will be here to renew at the end of next year. Just plan on it being another 25% increase (which for a short term thing you can at least plan safely).
Yes, exactly. ACA will be around until end of 2018 at least, then you can get short-term insurance to cover the 9 months left if there are no exchange insurers left in your market in 2019. One of the new exec orders reverses the Obama short-term policy limit (it's 90 days now I think) so folks can get up to 11-month policies, but this won't be implemented until next year.

But I don't see the ACA going away in 2019 given current history. Whether there will be any insurers left in some markets is the big unknown.
GTFan is offline   Reply With Quote
Old 11-07-2017, 07:15 AM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,266
+2... OP is fretting too much. ACA will definitely be there for all of 2018 and most likely for 2019 as well.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.

Retired Jan 2012 at age 56
pb4uski is offline   Reply With Quote
Old 11-07-2017, 07:24 AM   #8
Thinks s/he gets paid by the post
 
Join Date: Apr 2013
Location: Beach and Mountain
Posts: 1,087
3 choices not listed above: 1) my state, not OH, has HI programs for people that just don't fit. Might be worth checking out. 2) I am sure that your property and casualty broker can find you coverage. 3) You did not list any other family members. If there are other family members, please google "36 month cobra".
Z3Dreamer is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
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
ER in 4 months...or 11 months...or 24 months... BarbWire Hi, I am... 3 01-05-2012 05:50 AM
How to get sticky cottonwood stuff off a "clear coat" car finish? toofrugalformycat Other topics 10 08-21-2008 06:06 PM
In Taiwan all vehicles have clear plastic covers modhatter Life after FIRE 11 05-29-2007 09:45 PM
used car - clear title question lazygood4nothinbum Other topics 4 03-29-2007 05:36 AM

» Quick Links

 
All times are GMT -6. The time now is 08:40 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.