Poll: Do you need ACA for either you or your spouse? For how long?

[2017ish]

It's rather telling of the times we live in that a FB friend of mine turned 65 today, and the dominant message (after 'happy birthday') was some variation of "congratulations on getting Medicare".

Not too surprising for any time. The subsidy is nice even for those fully subject to IRMAA--which is alternatively known as "the Medicare subsidy reduction." https://secure.ssa.gov/poms.nsf/lnx/0601101001 (also observing that base Medicare B premiums equate to ~25% of the program's cost).

 

[winyaz]

I am currently planning to retire (for the 2nd time) at 60. I will need the ACA for 5 years. I have pre-existing conditions that could be expensive, so if it goes away, so does my retirement.

 

[I am He]

Need is an overstatement, but we're using it for 52 and 55 year olds through medicare age.

If it goes away, I'll be a bit miffed that we did a large Roth conversion late last year as it could have been spread out more evenly.

 

[meridiver]

My COBRA ends on 3/31/20. Just signed up this week for ACA, which both spouse and I will need for more than 5 years. Unfortunately (or fortunately depending on how you look at it) we cannot manage to the MAGI amount as our fixed monthly income puts us above the subsidy level. At least we are already used to paying high COBRA premiums so ACA is just more of the same.

If ACA goes away, either I'm going back to work or we are moving out of the country.

 

[I am He]

In retrospect, COBRA would have worked for us almost to the same degree (at least for a while). You may want to inquire about one staying on COBRA and one on the exchange.

 

[meleana]

Husband is on Medicare. He is 65 ( will be 66 in April) and just retired 12/31. I was on his employers retiree medical insurance for Jan snd Feb but it cost $545 per month with a high deductible. So I suspended it and went on a Silver plan starting 3/1 for $40 per month and no deductible (and $8 copays) since we are living on our savings for right now, so our income is going to be very low for this year and next. I will be 64 in June so just have to get to next June for my Mecicare.

 

[Jballbt]

I retired two years ago at the age of 62 (forced retirement due to my company going chapter 11). Cobra only lasted a few months and I made too much to qualify for Obama Care. Luckily I stumbled upon a solution for me which is Christian Health Ministries, a not for profit organization where all members share in the costs of each other’s medical expenses. For my situation it has been just the ticket to get me through til next year when I become eligible for Medicare. The cost of participation in CHM comes at a small fraction of the cost of personal health insurance outside of ACA. Detailed information about Christian Health Ministries can be viewed at chministires.org. I am currently considering using CHM as a means to supplement Medicare in place of a separate medigap coverage used with Medicare.

 

[geezee1957]

Retired at 59.5 and needed until 65 My wife and I have been generally happy with it compared to other options. We pay very reasonable(actually really cheap) premiums, however deductibles and OOP are expensive.

 

[Donno]

I retired 2 years ago at 60 and was covered by my companies retiree health plan which was really good. A few months later I got a letter saying they were doing away with retiree coverage and I was forced onto ACA. It has worked out okay since I take a biologic medicine that has a copay card that covers my deductible and out of pocket max on the second shipment in February so at that point I essentially have no more medical expenses except for premiums.
I was looking forward to medicare until I looked into it and found out that my first months medicine would cost me over $3k and about $1k a month after that plus all of the premium costs. Apparently medicare values the medicine at almost $18k a month and BCBS pays $5500 a month for the same medicine.

 

[davidfin]

ACA use

Enrolled in 2014. Managed MAGI to maximize subsidy. Saved ~approximately $70K. Medicare in April. Single policy HSA qualified $690/month no subsidy for self insurance till Medicare. Wife Medicare last October.

 

[Freedom56]

On ACA (with bronze PPO) with no subsidies since 2015. We stay slim and healthy and use it only for annual physicals and catastrophic coverage beyond the $7300 deductible for each of us. Medicare is years away for us. Some form of individual health insurance will be around for the foreseeable future although subsidies may go away for those who are eligible.

 

[ER Eddie]

I'm 58. I went with a 3-year policy. It's not ACA compliant, but with the tax penalty removed, that doesn't matter. I wanted catastrophic coverage with a high deductible and low premiums, which is what this plan offers. I couldn't find anything remotely similar in the ACA plans available to me.

I didn't like ACA as an option for that reason, and also because 1) I didn't want to pay for coverage of stuff I know I won't need; 2) I wasn't sure about whether I'd qualify for a subsidy, and I didn't want to get stuck with the full bill, which was around $12K/yr.; and 3) the ACA plan coverage in my area is pretty scarce, and the doctors/facilities that accept the coverage are also spotty.

I got much better rates and provider/facility coverage with my 3-year plan. I'm healthy for now, so I don't need to worry about coverage for pre-existing conditions. I'll probably end up paying more out of pocket, but that's okay. My interest is protecting myself against bankruptcy, not in reducing occasional copays.

If all goes well, I'll just keep renewing until 65. If I get seriously ill, the policy will cover me to the end of its term, at which point I'll jump to ACA. I don't believe pre-existing conditions clauses will get removed, now that they are law. They are too popular, and it'd be political suicide to remove them.

 

[GenXguy]

If all goes well, I'll just keep renewing until 65. If I get seriously ill, the policy will cover me to the end of its term, at which point I'll jump to ACA. I don't believe pre-existing conditions clauses will get removed, now that they are law. They are too popular, and it'd be political suicide to remove them.

The fact they are law now and popular doesn't matter to their fate as part of the ACA. The plaintiffs in the ACA case and the justice dept. have made it clear that they would like the entire ACA to be overturned as well as the mandate, so that would include losing pre-existing conditions. A district court agreed, but it went to the appeals court, and it's now headed to the Supreme Court, where they will decide on the fate of the mandate's contitutionality, and the inseverability of the other components of the ACA if the mandate is unconstitutional, including pre-existing conditions. They may end up striking down the whole law. Then the politicians will have to start over, trying to get something passed, which wasn't easy the first time around.

 

[CardsFan]

Please do not participate in the poll if you are on Medicare, Medicaid, VA, Tricare or any Employer or Ex Employer sponsored Healthcare. Of course your comments are welcome.

I also voted in the poll without reading the above disclaimer (retiree healthcare), but it seems to me you have eliminated 90% of the reasons someone would not use ACA.

 

[davidfin]

Still healthy. Went with catastrophic policy with $6500 deductible for spouse and I each and $13,000 OOP LIMIT. With CAREFUL MAGI management, premiums after subsidy were $ < $100 for both of us. Crap coverage but bankruptcy protection was what we’re after. It worked. Medicare starts next month. However original Medicare and supplement will cost about $5K per year. Lots better coverage. Feel like we won medical insurance war during early retirement period.

 

[ER Eddie]

The fact they are law now and popular doesn't matter to their fate as part of the ACA. The plaintiffs in the ACA case and the justice dept. have made it clear that they would like the entire ACA to be overturned as well as the mandate, so that would include losing pre-existing conditions. A district court agreed, but it went to the appeals court, and it's now headed to the Supreme Court, where they will decide on the fate of the mandate's contitutionality, and the inseverability of the other components of the ACA if the mandate is unconstitutional, including pre-existing conditions. They may end up striking down the whole law. Then the politicians will have to start over, trying to get something passed, which wasn't easy the first time around.

I see. I haven't been keeping up with the legal battle.

Well, I'll worry about it if it happens. If it does, I think politicians would rush to get a fix for people with pre-existing conditions, since that is something people rely on now and is probably the most popular part of ACA. Those factors might not stop the legal decision, but they would make politicians act like they're sitting on a hotplate to find a solution. Both sides would be under a ton of media and public pressure to get it fixed.

 

[dreambig]

Sorry, I miss read also. I voted 2 or more years, but it will be 11 years (2 people) total until we are 65.