health insurance

[semtex]

My wife's thinking about ER too. It means we have to find some health insurance.

Basic info:
Me 50, DW 49, DS 16, DD 12

Asset:
House equity+cash+IRA 3M+

We are in NY now, but east coast should be fine.

Any advice?

Many thanks,

 

[Aerides]

health sherpa is a good way to peruse your ACA/marketplace options. Or just go to healthcare.gov. Your assets are a non-issue, as health insurance is based on income.

 

[semtex]

health sherpa is a good way to peruse your ACA/marketplace options. Or just go to healthcare.gov. Your assets are a non-issue, as health insurance is based on income.

thanks, I will check them out.

we will have investment income only then, which will fluctuate

 

[Alex The Great]

How much is a cost of home, out of your net worth? Cash would not bring any substantial gain now. The good news is that you can control your income with Roth rollovers (I assume you have traditional IRA) to get the best ACA subsidy.

 

[PaunchyPirate]

My wife's thinking about ER too. It means we have to find some health insurance.

Basic info:
Me 50, DW 49, DS 16, DD 12

Asset:
House equity+cash+IRA 3M+

We are in NY now, but east coast should be fine.

Any advice?

Many thanks,

Health insurance purchased by an individual is very specific to your state of residency. Healthcare.gov is the federal exchange for individuals to purchase health insurance, but if you live in NY you need to use your own state exchange instead.

https://nystateofhealth.ny.gov/

These exchanges are based on the Affordable Care Act (Obamacare) legislation. If your income is low enough, you may qualify for a tax credit subsidy to help pay your premiums. The exchanges are set up to facilitate the subsidy.

If your income is too high to get a subsidy, you can still purchase off the exchange. However you can also contact insurance companies outside of the exchange. Exchange-based plans MAY be more restrictive with their coverage than off-exchange plans. Not all companies sell all plans in all counties.

Many, many plans will be for a network local to you geographic location. They will cover emergencies out of the network, but may not cover anything else.

Good luck. You’ve got some work to do.

You should also investigate if your spouse’s COBRA coverage from work is a better solution for now.

 

[semtex]

How much is a cost of home, out of your net worth? Cash would not bring any substantial gain now. The good news is that you can control your income with Roth rollovers (I assume you have traditional IRA) to get the best ACA subsidy.

house is pay off already. I think its value around 650~700k.

Our original plan was that DW would work 7 more years until both kids went to college. but last two years my wife has to work 50~70 hours per week. she is close to the limit.