COBRA Ending, options?

[cat4ever]

Hello All,
I'm at the end of my COBRA family coverage (wife, 2 kids 19, 21) and need to figure out how to handle the rest of the year. I will not qualify for any subsidies this year (I'll be claiming ~300K income) so I'm thinking since I'm unlikely to hit any deductibles in the next 5 months I should take the cheapest bronze plan, and then re-assess for next year when my income will be much lower. From a cursory look, the cheapest bronze plans are going to be ~$1800/month, about the same as COBRA was but with much poorer insurance. Any other options out there? I think I have until sept. 29 to sign up, any thoughts on going without until then, knowing I can sign up quickly if disaster strikes?

 

[VanWinkle]

Hello All,
I'm at the end of my COBRA family coverage (wife, 2 kids 19, 21) and need to figure out how to handle the rest of the year. I will not qualify for any subsidies this year (I'll be claiming ~300K income) so I'm thinking since I'm unlikely to hit any deductibles in the next 5 months I should take the cheapest bronze plan, and then re-assess for next year when my income will be much lower. From a cursory look, the cheapest bronze plans are going to be ~$1800/month, about the same as COBRA was but with much poorer insurance. Any other options out there? I think I have until sept. 29 to sign up, any thoughts on going without until then, knowing I can sign up quickly if disaster strikes?

I wouldn't play with fire and go without coverage. You could try the Health Ministries that are advertised with lower premiums and deductible over a bronze plan. I have only had cobra and ACA, but many here have discussed
health ministries for coverage.

 

[big-papa]

Hello All,
I'm at the end of my COBRA family coverage (wife, 2 kids 19, 21) and need to figure out how to handle the rest of the year. I will not qualify for any subsidies this year (I'll be claiming ~300K income) so I'm thinking since I'm unlikely to hit any deductibles in the next 5 months I should take the cheapest bronze plan, and then re-assess for next year when my income will be much lower. From a cursory look, the cheapest bronze plans are going to be ~$1800/month, about the same as COBRA was but with much poorer insurance. Any other options out there? I think I have until sept. 29 to sign up, any thoughts on going without until then, knowing I can sign up quickly if disaster strikes?

Some states allow for a Cobra continuation beyond the 18 months federal requirement. TX has that, for example, but there are some restrictions. For example, because my current employer's health insurance is self-funded (they use BCBSAZ to administer it), it's not eligible for the continuation.

https://www.verywellhealth.com/state-continuation-coverage-4773045

Cheers
Big-Papa

 

[Aerides]

Your profile says Missouri and I don't think extra-cobra is a thing there, so I'd just suck it up for a few months and pay un-subsidized for a decent plan to cover the gap, then get a subsidized one next year.

No, I would not risk going without coverage, not with young kids.

 

[pacergal]

I would not go without coverage.
Sign up for bronze plan and investigate for next year.

 

[cat4ever]

HSA Eligible required?

I've always had HSA Eligible plans until now, and I've already deposited the max amount for the year in my HSA. Do I need to pick an HSA eligible plan for these last 5 months of the year? I can get a cheaper plan that has a higher Max out of pocket limit than is allowed for HDHP/HSA plans.