Another way to get affordable Health Insurance if you don't qualify for ACA?

momoney

Recycles dryer sheets
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It looks like if you enroll for 6 credit hours online or in person at a state school in Missouri that health insurance is around $2500 for an individual and $7600 to cover a family. So the 6 credit hours a semester would cost you around $2500 or $5000 a year. No idea if it's good coverage or if there are age restrictions. Just thought I would throw it out there for discussion.
 
It looks like if you enroll for 6 credit hours online or in person at a state school in Missouri that health insurance is around $2500 for an individual and $7600 to cover a family. So the 6 credit hours a semester would cost you around $2500 or $5000 a year. No idea if it's good coverage or if there are age restrictions. Just thought I would throw it out there for discussion.
The local community college where I live also had a similar program and I knew many early retirees who took advantage of it. Then they increased the requirement to 9 hours. Then they dropped it altogether. I suspect that with an older population beginning to take advantage of this, it probably distorted their risk pool and made it unworkable.

The regular universities around here still have insurance available, but only for full time students.

Cheers
 
It looks like if you enroll for 6 credit hours online or in person at a state school in Missouri that health insurance is around $2500 for an individual and $7600 to cover a family. So the 6 credit hours a semester would cost you around $2500 or $5000 a year. No idea if it's good coverage or if there are age restrictions. Just thought I would throw it out there for discussion.
Wouldn't you need to attend the classes, do the work and achieve a passing grade to avoid 'flunking out' and losing coverage? Seems to me that if one can't afford to buy private health isurance or by going private you're slicing your budget pie pretty darn thin then you may not be able to claim the FI part or RE.

Apologies if I came across snarky and I'm certainly not pointing a wagging finger at Momoney for posting, but being able to afford our health insurance premiums for the 10-yrs between retirement and medicare was part of our planning. Looking for shortcuts that shift all or part of the financial burden onto taxpayers in the years before medicare kicks in when an individual or family has the ability to pay is wrong.

We can have another conversation on whether medicare should even exist, be mandatory for seniors or everyone, scaled back or just cover catastrophic situations for people with higher net worths and incomes or if their deductibles should be higher.

I've got my firefighting suit on...flame away!
 
Wouldn't you need to attend the classes, do the work and achieve a passing grade to avoid 'flunking out' and losing coverage? Seems to me that if one can't afford to buy private health isurance or by going private you're slicing your budget pie pretty darn thin then you may not be able to claim the FI part or RE.

Apologies if I came across snarky and I'm certainly not pointing a wagging finger at Momoney for posting, but being able to afford our health insurance premiums for the 10-yrs between retirement and medicare was part of our planning. Looking for shortcuts that shift all or part of the financial burden onto taxpayers in the years before medicare kicks in when an individual or family has the ability to pay is wrong.

We can have another conversation on whether medicare should even exist, be mandatory for seniors or everyone, scaled back or just cover catastrophic situations for people with higher net worths and incomes or if their deductibles should be higher.

I've got my firefighting suit on...flame away!
I was directing this towards those making too much for ACA coverage. It wouldn't be easy, but might be something that wasn't considered. I see quite a few people mentioning they want to go back to school. 6 credit hours might be manageable.
 
I was directing this towards those making too much for ACA coverage. It wouldn't be easy, but might be something that wasn't considered. I see quite a few people mentioning they want to go back to school. 6 credit hours might be manageable.
I get that and I wasn't trying to pick a fight with you or anyone else...truly. When I read your post it dredged up memories of friends and acquaintances trying to game the 'system' when they could easily afford otherwise. Some were exhausting a lot of time and energy to 'save' pennies by having the govt...meaning the rest of us,
...pick up the tab.
 
You are certainly correct, I misinterpreted the details of the American Rescue Act.
 
You are certainly correct, I misinterpreted the details of the American Rescue Act


Five Things to Know about the Renewal of Extra Affordable Care Act Subsidies in the Inflation Reduction Act​


These temporary subsidies were originally slated to last two years (2021 and 2022) and were passed as part of the American Rescue Plan Act (ARPA). The IRA extended the subsidies in years 2023 through year 2025.

It limits the cost of the benchmark Silver plan (SLCSP) to no more than 8.5% of MAGI with no income limit. However if the SLCSP costs less than 8.5% you would not get a subsidy.
 
I think paying the lowest tax possible is basically everyone's choice by arranging their affairs accordingly. It used to simply be called smart tax planning, not "gaming the system".

And of course for folks who feel they are paying too little, it is within their right to pay the US Treasury extra. It is even tax deductible.
 
According to this link - How To Guide: Group Health Insurance for Self-Employed -

"According to the Kaiser Family Foundation, the following states define self-employed individuals as "groups of one" and require insurers to guarantee them coverage in the small group market.

Colorado
Connecticut
Delaware
Florida
Hawaii
Iowa
Louisiana
Maine
Massachusetts
Mississippi
New Hampshire
New York
North Carolina
Rhode Island
Vermont
Washington
 
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