Temp HI for my son

[njhowie]

And I doubt that employer coverage for one is less than $160 per month.

Of course. My point was that if catastrophic were $227, moving up to a full plan the price increase would likely be minimal and probably a better choice.

 

[ziggy29]

Of course. My point was that if catastrophic were $227, moving up to a full plan the price increase would likely be minimal and probably a better choice.

Depends on your ability to self-insure. For someone needing temporary insurance for one month, if they are young and healthy... the difference is an extra $57 to avoid a very small chance to avoid a bill of an extra $4,900. That means there would have to be what, maybe a 1.2-1.3% chance of having a catastrophic illness or injury in one month for the bronze to break even?

Or even a short-term plan which might cost about $90, with a $10K deductible. For someone young and healthy the odds suggest the short term plan if you *know* you will have "regular" employer insurance in a month or two (which may not be a lot cheaper, but will be pre-tax and with much better benefits in most cases). But admittedly some decisions aren't 100% on the numbers, and may have a little risk aversion premium built into them. And that's fine, as long as you understand that for what it is.

 

[njhowie]

Depends on your ability to self-insure. For someone needing temporary insurance for one month, if they are young and healthy... the difference is an extra $57 to avoid a very small chance to avoid a bill of an extra $4,900. That means there would have to be what, maybe a 1.2-1.3% chance of having a catastrophic illness or injury in one month for the bronze to break even?

Or even a short-term plan which might cost about $90, with a $10K deductible. For someone young and healthy the odds suggest the short term plan if you *know* you will have "regular" employer insurance in a month or two (which may not be a lot cheaper, but will be pre-tax and with much better benefits in most cases). But admittedly some decisions aren't 100% on the numbers, and may have a little risk aversion premium built into them. And that's fine, as long as you understand that for what it is.

My reply was in regard to pb4uski's suggestion of possibly using the catastrophic plan longer term in lieu of taking the employers plan.

 

[copyright1997reloaded]

For a 20-something year old, a full ACA plan should not be much more than the $227 you quoted for the catastrophic plan. We're currently paying $217 for a bronze plan for daughter. Obviously there are lots of differences between states, but $227 seems quite high for catastrophic.

In NY (community rated), the lowest cost ACA plan in my zip code is about $550/month (for a single individual). (Maybe this belongs in the ACA thread as it is a great example of the young subsidizing the old.)

 

[njhowie]

In NY (community rated), the lowest cost ACA plan in my zip code is about $550/month (for a single individual). (Maybe this belongs in the ACA thread as it is a great example of the young subsidizing the old.)

My jaw just hit the ground.

Wife and I are 54 and each pay $465/month for cheapest bronze plan this year.