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2020 ACA Costs, What did you Actually Spend for Coverage?
Old 11-02-2019, 06:52 AM   #1
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2020 ACA Costs, What did you Actually Spend for Coverage?

There are other threads on 2020 ACA, but not dedicated to what folks have actually spent to renew coverage for 2020. I thought it would be good to get some comparisons from around the country. I will go first.

Here in NE Florida, we renewed DW's ACA Plan with Florida Blue for 2020, using the same MAGI as 2019, her Silver Plan premium is rising form $0 pm to $68 pm. (An increase of 680% LOL) After Subsidies. This is still almost $3000 a year less than my proposed 2020 Medicare costs (Medicare Part B + Medicare Part G & D Supplements).

All other items stay the same. $0 Deductible, $1650 MOOP No Copay for Doctors Visits, $5 CoPay for Specialists, Same drug coverage, same doctors, same plan number as 2019.
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Old 11-02-2019, 07:38 AM   #2
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Using the same income estimate as 2019 my 2020 premium cost with subsidy will double, from $53/mo to $109/mo. The actual cost for the plan increased ~6%.
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Old 11-02-2019, 07:39 AM   #3
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Our catastrophic plan went up 9% for 2020.... from $244.60/mo to $266.82.

We both become eligible for Medicare in 2020... while our premiums be higher we will have better coverage (lower deductibles and co-pays) and will no longer have the uncertainty of whether ACA will be available (though I think it will be for some time to come).

I suspect that our total cost (premiums, deductibles and co-pays) will be higher than ACA because our use of medical services is negligible.
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Old 11-02-2019, 07:45 AM   #4
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In Washington state in 2020, as a 59 yo F and unsubsidized, I'll pay $607 for a bronze HSA compatible plan.

That's down from 2019 by $15 a month for the same plan with a slight increase in deductible.
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Old 11-02-2019, 07:45 AM   #5
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Originally Posted by pb4uski View Post
We both become eligible for Medicare in 2020... while our premiums be higher we will have better coverage (lower deductibles and co-pays) and will no longer have the uncertainty of whether ACA will be available (though I think it will be for some time to come).

I suspect that our total cost (premiums, deductibles and co-pays) will be higher than ACA because our use of medical services is negligible.
Agreed, but peace of mind is priceless. One of the only times in my life that I wished DW was 5 years older...
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Old 11-02-2019, 10:55 AM   #6
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In Georgia ages 64/62 will pay $1680 a month for a Bronze HSA plan. The premium has increased by $235 and the deductible/max out of pocket by $300 to $13700.
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Old 11-02-2019, 12:13 PM   #7
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Our silver plan in VA went up $69/month for my wife and I. The insurance is not as good as last years but it still meets our requirements.
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Old 11-02-2019, 12:57 PM   #8
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King County WA state Kaiser HSA Bronze ages 53/52 $8.57/mo. Paid for the year just this morning $102.84.
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Old 11-03-2019, 10:49 AM   #9
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We will probably go with a Bronze plan this year and pay $0 for 2020. We can take more $ out of IRAs and 401ks with a Bronze plan. For 2019 we went with a Silver plan and again paid $0 for the plan but we were limited in how much we could take out of IRAs and 401ks. We knew we had at least one surgery in 2019 so the silver plan made sense.
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Old 11-03-2019, 11:02 AM   #10
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WOW....those subsidies actually put some people at 8 dollars or 0 per month. How is this possible?
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Old 11-03-2019, 02:17 PM   #11
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My brother and I use the same Florida Blue 1443 Silver plan as your DW. Our total premiums will be $241 monthly vs. $133 monthly for 2019. That is with using an MAGI of $1k more but still under 150% of FPL.
Still a great deal, but not sure why it went up so much on a % basis.
DGF already on Medicare.
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Old 11-03-2019, 02:35 PM   #12
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WOW....those subsidies actually put some people at 8 dollars or 0 per month. How is this possible?
I'm not an expert on ACA in every state, but where I live, if your MAGI is under approximately 27K, a silver plan for a married couple filing jointly is fully subsidized, resulting in $0 cost for the policy. I guess the real question would be, how the hell do two people live off $27K per year? Haha. The answer is...we live off savings, depending on the source of the savings may or may not affect MAGI, and 401k and IRA (non ROTH) withdrawals which do affect MAGI. We haven't started collecting SS (not old enough yet, woohoo!) nor have we started receiving pension payments so we aren't burdened with high levels of income.
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Old 11-03-2019, 02:46 PM   #13
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There is a little more planning involved in keeping MAGI in a certain range for ACA purposes but the above explanation is the quick and dirty.
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Old 11-03-2019, 02:49 PM   #14
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There is a little more planning involved in keeping MAGI in a certain range for ACA purposes but the above explanation is the quick and dirty.
Basically, the key is to have built up a large Taxable account to be used to supplement the taxable income.
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Old 11-03-2019, 03:22 PM   #15
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Next year I will be paying $20 a month by keeping MAGI under 200% FPL. The last 5 years I have been under 150% FPL and have paid $0 premiums. NY has its own plans that other states don't offer.
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Old 11-03-2019, 03:34 PM   #16
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Basically, the key is to have built up a large Taxable account to be used to supplement the taxable income.
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Old 11-03-2019, 04:10 PM   #17
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Originally Posted by pb4uski View Post
Our catastrophic plan went up 9% for 2020.... from $244.60/mo to $266.82.

We both become eligible for Medicare in 2020... while our premiums be higher we will have better coverage (lower deductibles and co-pays) and will no longer have the uncertainty of whether ACA will be available (though I think it will be for some time to come).

I suspect that our total cost (premiums, deductibles and co-pays) will be higher than ACA because our use of medical services is negligible.
Can you explain how you qualify for a catastrophic plan at your age? I go to the Dr. once a year for wellness visit and this year it is going up to 836 a month.
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Old 11-03-2019, 08:34 PM   #18
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Basically, the key is to have built up a large Taxable account to be used to supplement the taxable income.
That's one way.
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Old 11-04-2019, 07:52 AM   #19
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The other trick you could do if you need money one year but don't want to raise your MAGI is withdraw contributions you made to a Roth IRA or withdraw rollovers you made to the Roth IRA 5+ years ago. Both of these actions would be tax free and not affect your MAGI.
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Old 11-04-2019, 07:54 AM   #20
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DW and I were on ACA for almost 2 years, we received maximum subsidies and cost sharing. Paid 0 for Silver plan with BCBS of Il. DW passed in May, I am now on Medicare starting Nov 1st.
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