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Well the $76 includes cleanings and x-rays so I figured we would both go get that done then cancel the insurance and pay out of pocket the rest of the year.
Health Insurance with no income but savings?
- Thread starter Alex The Great
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Well the $76 includes cleanings and x-rays so I figured we would both go get that done then cancel the insurance and pay out of pocket the rest of the year.
GTFan
Thinks s/he gets paid by the post
Good call, no way cleanings and X-rays are worth $900+ a year. There is no good open market dental insurance unless you want to deal with HMOs and all the upsell that goes along with them.
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We pay $79 for dental Insurance per month ($948 per year) for the two of us. Nominally, the max benefit is $1,000 per person. But with discounts for having insurance, the benefit is higher.
This year, the total for my dental work without insurance would have been $2883. I have just reached my max for the year but paid only $744 out of pocket after Delta negotiated better rates and paid its share. So having insurance saved me $2,139 for the $474 I paid in premiums (my half of the family premium).
It may not be real insurance, but it is a pretty good return on investment.
This year, the total for my dental work without insurance would have been $2883. I have just reached my max for the year but paid only $744 out of pocket after Delta negotiated better rates and paid its share. So having insurance saved me $2,139 for the $474 I paid in premiums (my half of the family premium).
It may not be real insurance, but it is a pretty good return on investment.
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OP
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Alex The Great
Recycles dryer sheets
FIREd, thanks for the info. May I ask which plan do you use? Is this the one Delta sell directly or through the exchange? Or it is a plan from particular dentist?
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Actually you also need to subtract out the cost of cleanings and xrays since those are covered 100% by the monthly premium. If you figure $150 for that then you only really paid $324 for the insurance.
It is a Delta Dental plan sold through the exchange. I knew that I would need some dental work done this year, so I chose a plan covering a wide range of services. It is accepted by many dentists and specialists in my area.
GTFan
Thinks s/he gets paid by the post
Well yeah if you know you're going to have good bit of work done it could be worth it.
Otherwise, no way - they're going to clean your clock. And that's the issue with dental.
Otherwise, no way - they're going to clean your clock. And that's the issue with dental.
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A few thoughts on this from limited personal experience.
Since the advent of ACA our taxable income (all from investments) is usuahlly in the 10-12K range, though we've had an occasional year where capital gains have pushed us into the ~23K high-subsidy ACA plan eligibility.
Our experience has been that which state you're in matters greatly, and specific county and city just about as much. In both small-town Colorado and Tucson, Arizona finding doctors who'd take us either on Medicaid or ACA plans was about equally challenging but Arizona works a lot harder at both making it hard to get on Medicaid and constantly trying to boot you out once you you are on it.
At least in Arizona it's easy to cross the border at Nogales and get dental work done (a huge business!) but for those like ourselves who are likely to be in the Medicaid income range for years before being old enough for Medicare it seems like the best option is to try to live in a state that not only has eagerly embraced expanded Medicaid but is "blue" enough to be committed to preserving access regardless of what happens in Washington. I guess that means California if you can afford it, New Mexico if you can't.
Since the advent of ACA our taxable income (all from investments) is usuahlly in the 10-12K range, though we've had an occasional year where capital gains have pushed us into the ~23K high-subsidy ACA plan eligibility.
Our experience has been that which state you're in matters greatly, and specific county and city just about as much. In both small-town Colorado and Tucson, Arizona finding doctors who'd take us either on Medicaid or ACA plans was about equally challenging but Arizona works a lot harder at both making it hard to get on Medicaid and constantly trying to boot you out once you you are on it.
At least in Arizona it's easy to cross the border at Nogales and get dental work done (a huge business!) but for those like ourselves who are likely to be in the Medicaid income range for years before being old enough for Medicare it seems like the best option is to try to live in a state that not only has eagerly embraced expanded Medicaid but is "blue" enough to be committed to preserving access regardless of what happens in Washington. I guess that means California if you can afford it, New Mexico if you can't.
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Alex The Great
Recycles dryer sheets
kevink, thanks for sharing your experience! This is exactly what I suspected. Actually, California is very different and according to what I learned you have to be in one of the major metro areas to find those doctors who accept expanded Medicaid. Not sure about New Mexico, but Oregon has a descent Medicaid expansion in place (called Oregon Health Plan) which works quite well in Portland area, which is much less expensive than SF Bay, LA or San Diego area in California.
Yes Alex The Great Oregon is a great choice for the reasons you cite (though Portland is fast reaching California cost-of-living). Still some of the smaller cities further south remain fairly affordable and have excellent quality of life.
New Mexico is a unique case. It's one of the poorest states and also has very large Hispanic and Native American populations. Over 50% of its residents are on Medicaid and Medicare. All of these factors combined mean that on the one hand access to doctors no matter what your means isn't anywhere near as good as it is in wealthier states, but on the other hand someone with any kind of insurance - or with the means to pay cash for routine care - is going to be welcomed at clinics and the like. That was certainly our experience anyway living in Silver City and I've heard the situation is similar in many other parts of the state.
New Mexico is a unique case. It's one of the poorest states and also has very large Hispanic and Native American populations. Over 50% of its residents are on Medicaid and Medicare. All of these factors combined mean that on the one hand access to doctors no matter what your means isn't anywhere near as good as it is in wealthier states, but on the other hand someone with any kind of insurance - or with the means to pay cash for routine care - is going to be welcomed at clinics and the like. That was certainly our experience anyway living in Silver City and I've heard the situation is similar in many other parts of the state.
pgiyer
Confused about dryer sheets
NY state has a plan for low income families who do not qualify for Medicaid
https://info.nystateofhealth.ny.gov/sites/default/files/Essential Plan Fact Sheet 2017.pdf
The Essential Health plan is available to a couple who make less than $32,040 annually in INCOME. Premiums and co-pays are very reasonable and many insurance providers participate.
We were thinking of moving to Florida in early retirement, but maybe we will stay on in NY until Medicare age!
https://info.nystateofhealth.ny.gov/sites/default/files/Essential Plan Fact Sheet 2017.pdf
The Essential Health plan is available to a couple who make less than $32,040 annually in INCOME. Premiums and co-pays are very reasonable and many insurance providers participate.
We were thinking of moving to Florida in early retirement, but maybe we will stay on in NY until Medicare age!
Couldn't agree more. My "husband" and I remain unofficially married so he can qualify for a subsidy. I own rental properties and generate enough income to pay him enough taxable income for him to qualify for a subsidy. Being married he wouldn't qualify due to my income.
