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ACA 2020 Plan Previews started today
- Thread starter Sue J
- Start date
Trawler
Recycles dryer sheets
Yes they are and was glad to see price for same Bronze plan in Ohio was only slightly higher for 2020 versus the letter I received from current insurance co. Deductible and Max OPP went up slightly as well. Only 4 of 34 plans HSA compatible plans available in my area.
Fishingmn
Full time employment: Posting here.
Our non-subsidized high deductible plan in MN only went up a little (Bronze/HSA) -
2019 - both 56 - $965/mo
2020 - both 57 - $990/mo
I did look around and found a similar plan from another insurance provider for $935/mo but we don't want to change doctors so are sticking with current plan for 2020.
2019 - both 56 - $965/mo
2020 - both 57 - $990/mo
I did look around and found a similar plan from another insurance provider for $935/mo but we don't want to change doctors so are sticking with current plan for 2020.
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I get to keep the same HD/HSA Florida Blue plan, and it's very slightly cheaper for 2020, so I'm quite happy.
Without any subsidy our current Bronze HDHP with HSA went from
2019 both 63 - $1230/mo to
2020 both 64 - $1322/mo
A very similar HDHP policy without HSA is $1159/mo so we will probably go with that one.
I like an HSA policy if I can get one but we are only using ACA for one month for me and 3 months for DH so the cost difference is not worth the tax savings.
Now, for subsidies, like last year they are enormous. In our zip code for a 64 year old couple -
$45,000 income = $1308 subsidy
$50,000 income = $1234 subsidy
$55,000 income = $1185 subsidy
$60,000 income = $1148 subsidy
$65,000 income = $1107 subsidy
$67,000 income = $1085 subsidy
$67,641 income = $0 subsidy
That's a $13,000 cliff!
The subsidy drops way down (much smaller than half ) when I start Medicare and it will just be DH using ACA but we only have that for Feb and March 2020, then we will both be on Medicare.
2019 both 63 - $1230/mo to
2020 both 64 - $1322/mo
A very similar HDHP policy without HSA is $1159/mo so we will probably go with that one.
I like an HSA policy if I can get one but we are only using ACA for one month for me and 3 months for DH so the cost difference is not worth the tax savings.
Now, for subsidies, like last year they are enormous. In our zip code for a 64 year old couple -
$45,000 income = $1308 subsidy
$50,000 income = $1234 subsidy
$55,000 income = $1185 subsidy
$60,000 income = $1148 subsidy
$65,000 income = $1107 subsidy
$67,000 income = $1085 subsidy
$67,641 income = $0 subsidy
That's a $13,000 cliff!
The subsidy drops way down (much smaller than half ) when I start Medicare and it will just be DH using ACA but we only have that for Feb and March 2020, then we will both be on Medicare.
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CyclingInvestor
Thinks s/he gets paid by the post
Los Angeles area, +10% this year for Gold PPO. 3.5 years to Medicare (sigh)
PaunchyPirate
Thinks s/he gets paid by the post
According to the Healthcare.gov website...
For 2020, the IRS defines a high deductible health plan as any plan with a deductible of at least $1,400 for an individual or $2,800 for a family. An HDHP’s total yearly out-of-pocket expenses (including deductibles, copayments, and coinsurance) can’t be more than $6,900 for an individual or $13,800 for a family. (This limit doesn't apply to out-of-network services.)
https://www.healthcare.gov/glossary/high-deductible-health-plan/
Monterey298sc
Recycles dryer sheets
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Last year
23,000
For my wife and I self employed. I’m 58 she is 56 .
2020 25% increase to 28,900. I am sick of this. We are changing to Cigna , done with the AFFORDABLE CARE ACT.
23,000
For my wife and I self employed. I’m 58 she is 56 .
2020 25% increase to 28,900. I am sick of this. We are changing to Cigna , done with the AFFORDABLE CARE ACT.
When you are looking at the list of plans you can use the filter to find HSA plans. On the left click FILTER PLANS and then click "Eligible for an HSA" on the right. Then click APPLY FILTERS at the bottom of that box.
HSA plans have to be designed that they don't pay for anything, except for some ACA specific things like a yearly exam and maybe vaccines, before you hit your deductible. So they can't have an office visit with a copay or prescriptions with a copay before you meet your deductible.
Mulligan
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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Wow, Monterey, what a kick to the gut! I am 55 and it will be $660 a month for an HSA (not eligible for any subsidy). So that in effect brings it down to about $550 for tax break. Neither of you are even 60 yet. I hate to say this but plug in your ages to be 62 and 60 and tell me what it is if you dont mind.
My long time GF of over a decade is my ace in the hole. They have a “live together” option where I could hop on hers and have her move in. It would be $150 a month, $200 annual deductible which also includes dental and vision.
T-Minus
Recycles dryer sheets
Our unsubsidized HSA-compliant plan went from 58/50 @ $1,236.65 in 2019 to 59/51 @ $1,258.81 in 2020 - a $22.16/Mo. increase. I can live with that.
I also ran some future projections:
60/52: $1,314.19
61/53: $1,366.44
62/54: $1,410.95
63/55: $1,459.97*
64/56: $1,502.52*
* - will qualify for some sort of subsidy these years, due to planned income reduction.
I didn’t run any more scenarios because at 65, I will be Medicare-eligible.
I also ran some future projections:
60/52: $1,314.19
61/53: $1,366.44
62/54: $1,410.95
63/55: $1,459.97*
64/56: $1,502.52*
* - will qualify for some sort of subsidy these years, due to planned income reduction.
I didn’t run any more scenarios because at 65, I will be Medicare-eligible.
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John Galt III
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Just dropped in to relive my Affordable Care Act days. As a low income user I had amazingly low copays and premiums, with max out of pocket of $1,000. Now that I am on Medicare, the gravy train has come to an end, lol! Now I pay $135 a month premium (was zero to $25 under ACA) for a Medicare Advantage plan, and some copays are huge, as in $300 for an MRI, etc. and max oop $6,700.
Sojourner
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Here in Georgia, rates continue to skyrocket. The cheapest plan available to me for next year (that includes my primary care doctor in network) is $510/month. This year I've been paying $440/month. So that's a 16% increase for 2020. My passive income puts me over the limit for subsidies, so it's all out of pocket.
I remember that in 2014, when I first had to get insurance in the private market, it was something like $250/month for a similar bronze-level plan. Now it's over 100% more. It boggles the mind to think that these gargantuan price increases could just keep going.
I remember that in 2014, when I first had to get insurance in the private market, it was something like $250/month for a similar bronze-level plan. Now it's over 100% more. It boggles the mind to think that these gargantuan price increases could just keep going.
mitchjav
Recycles dryer sheets
Thanks for the information on the ACA Preview. A couple of questions, if I might... We're new to ACA and are in NJ. The 2 plans that look good to us have a significant difference in premiums (about $6,000/Year). The difference seems to be mostly around surgical and inpatient care - the lesser premium plan will incur a % of coinsurance (10% in Tier 1 facilities, 50% in lower tier - I believe) wheras the higher premium plan will have no additional charge. Both plans have the same OOP maximum. First thought was go with the higher premium plan to have peace-of-mind and not "gamble" in case surgery or in-patient services are needed. Second thought was take the gamble as chances are in won't happen and we're back-stopped by the OOP maximum anyway - am I thinking about this in the right way?
Second question - we have a 20 year old on the plan with us who will be leaving for college in PA. The plans we are looking at are local plans only - so she would be covered when she comes home. What about while at school? Looked at the university website and they recommend the ACA. Do I need to buy her a second ACA plan (on the PA exchagne) for while she's at school? Pay out-of-pocket if she needs something?
Thanks in advance
Second question - we have a 20 year old on the plan with us who will be leaving for college in PA. The plans we are looking at are local plans only - so she would be covered when she comes home. What about while at school? Looked at the university website and they recommend the ACA. Do I need to buy her a second ACA plan (on the PA exchagne) for while she's at school? Pay out-of-pocket if she needs something?
Thanks in advance
PaunchyPirate
Thinks s/he gets paid by the post
For Question #1, you pretty much have it correct. The OOP Max is indeed important to look at because it really is your safety net. Be reminded that the premium themselves do not count toward this OOP Max. If you're generally in good health, it might be acceptable to take the lower premium plan route. Especially, if you can afford the OOP Max if it really came down to it due to an un expected major medical issue. The devil really is in the details of how your family specifically has medical needs.
What I have done is to put every single 2019 medical expense in a spreadsheet. Using my current plan, I itemized 1) what the billed cost was 2) what the insurance plan negotiated rate was 3) what I had to pay and 4) what the insurance company paid. For 2020 decision making, I copied the spreadsheet and assumed I would need similar medical care to what I needed last year. For Items 1 and 2, I assume to be the same (even though it will likely rise some). Then I look at the 2020 plan details to see how much I would pay (Item 3) for each plan. Then I add up all the Item 3 values to get my estimate medical expenses under each plan. Most of the available plans that I have actually end up within about $600 of each other for my personal medical needs. So, I have decided to pay the extra "just in case". That plan has the lowest OOP Max as well. It is a Gold plan.
I'm on one medication that significantly skews things. If I weren't on this medication, the Bronze plan with a much cheaper premium would be a couple thousand dollars in savings for me unless something unexpected happens to me.
So it really is a bit of a guess, unfortunately.
As for your Question #2, I think that pretty much all plans will cover your daughters "emergency medical expenses" as if she were in NJ. You can confirm this in the plan literature. I'd be surprised if it doesn't. However, your insurance company would expect you to move her to an in-network facility to continue to cover at in-network rates once the emergency was over. Otherwise she would be charged out-of-network rates, which could obviously be very high.
Edited to Add: To get your daughter this type of coverage, you do probably need to be on a PPO plan. An HMO and probably an EPO won't probably have the coverage you need for her.
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Eucerin
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My daughter also school out of state in PA, I have been use PPO plan. It is more expensive than others but it is a sure thing that she is covered. She has gone to school nurse a couple of times (none-emergency), and prescribed some medications, they are covered. its a comfort.
Also, with her on your plan, it would only reduce your premium. My daughter school provides health insurance but its about 469/month, so expensive.
PPO plans are the best option. Otherwise, some BCBS EPO/HMO plans have an 'Away from Home' option for students/snowbirds who will be in another location over 90 days. Horizon BCBSNJ exchange plans are called OMNIA plans so they appear to qualify and PA is a state that participates.
BCBS Away from Home: http://www.bcbsnc.com/assets/members/public/mms/pdfs/bluecard/BCBSNC-AFHC.pdf
There are 19 states that do not participate in the guest membership program: Alabama, Alaska, Idaho, Iowa, Kansas, Mississippi, Montana, Nebraska, North Dakota, Oregon, Rhode Island, South Carolina, South Dakota, Tennessee, Vermont, Utah, Washington, Wyoming, and West Virginia.
SecondCor521
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
For my son, who is at an out-of-state university, I chose to put him on the school's student health insurance plan. It covers him pretty well at school and for emergencies when he's home for breaks. It is pretty expensive for what he gets. I'll look into putting him on the ACA there.
My 2020 preview gave me a nice surprise. My plan here in central Texas is going down about $40 / month. And my subsidy is increasing about $90 / month thanks to other lower cost plans going up. So that nets to about a $130 / month decrease for me.
HSA eligible plan 47/49 comes to $813/month not subsidized down about $20 from last year.
We are stuck in our current health care plan as the only other option is almost $9k more so I have no idea how anyone would choose the other provider.. seems like a scam to me.
We are stuck in our current health care plan as the only other option is almost $9k more so I have no idea how anyone would choose the other provider.. seems like a scam to me.
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