Folks, the discussion of costs and alternatives to healthcare insurance is interesting, so let's keep on that theme and not let politics or election issues creep into the discussion.
Last edited:
I use a Co-Op that is accepted by ACA meaning no penalty. There are three Co-Ops accepted by ACA. I pay $150 per month and have a $500 per incident "Cost-Share"....
Here is what I had in mind when I mentioned the 'third option' - combining non-ACA-compliant health insurance with the ACA non-participation tax penalty to lower my overall insurance costs. Could this work? I don't know, but it's worth exploring for 2017.
https://resources.ehealthinsurance.com/affordable-care-act/critical-illness-insurance
Scary. What if you have a major illness or medical emergency and the total medical bills are $500,000? How much of that bill would be covered? How much would you have to pay?
True... you're saving $8-12k a year or so in premiums but you are putting EVERYTHING that you have at risk.
Scary. What if you have a major illness or medical emergency and the total medical bills are $500,000? How much of that bill would be covered? How much would you have to pay?
True... you're saving $8-12k a year or so in premiums but you are putting EVERYTHING that you have at risk.
I found this article on a similar arrangement interesting.I am very interested in the CO_OP with Brother's Keeper...... I have been to the web page, but do not quite understand how any bills are paid if and when you require medical services ....... How do you get the $$$ from the CO_OP to pay the bills??
http://www.nytimes.com/2015/02/01/opinion/sunday/onward-christian-health-care.htmlEach time Ms. Bixby visited her hospital for tests or chemotherapy, she explained that she was a self-pay patient and a member of a cost-sharing ministry. Sometimes the receptionist nodded; sometimes she got a blank stare. The hospital never denied her treatment, but “I was getting a two-inch stack of bills every month, and threats that they would take me to collections,” she told me.
Christian Healthcare Ministries assigned her case to a “member advocate,” who negotiated discounts on her fees. These counted toward Ms. Bixby’s $5,000 deductible, so she paid out of pocket only for office visits. In the end, the ministry persuaded the hospital to lop $220,900 off a bill of $301,540 and reimbursed or paid directly the remaining $80,640.
I am very interested in the CO_OP with Brother's Keeper...... I have been to the web page, but do not quite understand how any bills are paid if and when you require medical services ....... How do you get the $$$ from the CO_OP to pay the bills??
Interesting, "but the ministry makes no guarantees of payment" got my attention. It's nice that they have been able to negotiate some great discounts for their members, but I wonder about how many instances where the providers refused to play ball and the person got stuck with large medical bills to pay happen and we don't hear about those.
An interesting approach, but not a substitute for health insurance, where legitimate claims are paid, insurers are required to have adequate reserves and capital and state guaranty funds (and an ability to collect taxes from solvent insurers) stand behind insurers who become insolvent.
I don't know that there are any bad guys. Perhaps the doctor making $300,000 a year, but she likely spent a lot of effort getting to that point. Maybe the drug manufacturer who lost all of their investor's money trying to get a drug through billion dollar trials is the bad guy?
We're in South Florida and so far have been fortunate. There are more insurance options in this state than just about anywhere else in the US. We've changed plans each year, allowing us to continue to find excellent coverage without suffering the major price increases elsewhere. I expect that to end now, and for the next enrollment period plan on a 2x increase in premium, but thankfully that will only affect me, as DW enrolls in Medicare.
I expect our premium to double because our current insurer, Humana, will not offer this policy next year, and the only remaining option (for a national network) will be a BCBS "BlueOptions" plan that, after a 9.8% price increase plus the age adjustment, will cost double what we are currently paying. Nothing I can do about this except suck it up for another 22 months. Such is life ..Michael:
We live in NE Florida, our current payment for both of us is $341pm with Florida Blue after subsidies. We are living off our Post Tax nest egg to keep income low and NOT taking anything from our IRA's. Our Post Tax positions are about 60% of our total stash.
I hope the premiums do not double for 2017 $682.... Our plan is with Florida Blue HMO that has worked out VERY well this year so far. Plan Number 1477b.
.... Nothing I can do about this except suck it up for another 22 months. Such is life .. ....
The price of freedom!
I wasn't complaining. The ACA has been a boon to us, neither of us could get pre-ACA individual insurance due to pre-existing conditions.The price of freedom!
Michael:
We live in NE Florida, our current payment for both of us is $341pm with Florida Blue after subsidies. We are living off our Post Tax nest egg to keep income low and NOT taking anything from our IRA's. Our Post Tax positions are about 60% of our total stash.
I hope the premiums do not double for 2017 $682.... Our plan is with Florida Blue HMO that has worked out VERY well this year so far. Plan Number 1477b.
So here the problem that us full pay people have to deal with, your premium will not double, you have premium caps because of your subsidies. Ours will double because we don't. This has worked out very well for some and not so well for others. That's just the way it is and why I said in some cases it encourages people to stop working.Your feeling about the ways this works probably depend on which side of the equation you are on.