Free Health Insurance?

[Teacher Terry]

My Medicare plans were a total of 400/month until I used the birthday rule to change from a F plan to a G plan. Every year my supplement goes up between 10-20/month. A friend of mine who’s turning 80 this year had to finally go with a MA plan because of cost. The older you get the more expensive it is. Luckily the state gives me 195/month towards my premiums as part of my retiree benefits.

 

[gauss]

Well of course individual applies to any single person, that's how it's always worked even with my work plans over my career. The individual limit is the max out of pocket for one person, even on a family plan. The family out of pocket limit comes into play with more than one person using health services. You can hit that family out of pocket with JUST TWO PEOPLE when each has some healthcare expenses hitting the individual limit. It does NOT have to be a large family with lots of people on the policy.

Thanks for the assist with the clarification. It was a surprise to me. Back in 2005 or so when our employer health plans were being revised, I think DW and I were on the same plan for the first time. I tried like heck to get answers to how these family limits applied but never received a good answer.

I guess once you hit the individual limit on a family plan for the first time then it will be obvious to someone going forward. Not sure if it is obvious to everyone else -- especially those who buy high deductible HSA compliant plans who have never hit the limit.

-gauss

 

[tenant13]

Yes, and you don't want that. CRLLS is right look into minimum requirement.

I’ve been on Medicaid due to similarly structured income and had no complains. Doctors were fine and everything was completely free. Granted - they will go after my estate after I’m dead but that’s fine, I have no heirs.

EDIT: I think that next year I’ll go on ACA and use HSA to do some more tax free investing. It’s like ROTH except that you can actually deduct it from your income - including capital gains income! Pretty sweet.

 

[teej1985]

Watch your income closely. I can easily be wrong on this. If your income is too low they may put you in Medicaid. I believe there is a minimum requirement for ACA. Check that out before making firm plans.

If they have $10k AGI, they are most certainly getting shifted to Medicaid, hence the free health insurance.

 

[MichaelB]

Medicaid is a federal mandate but managed by the states, so each state has its own version of Medicaid. Some are quite good in terms of coverage and availability of providers, while others are bare bones and restrictive. Some are managed care programs administered by insurers.

The experience of someone in one state has little applicability to someone in another state. Not looking to pour cold water on anyone’s parade, but I think it is important to keep this in kind.