MichealKnight
Full time employment: Posting here.
- Joined
- May 2, 2019
- Messages
- 520
Hello Everyone, I am planning on an Early Retirement - -perhaps within this year and I'm trying to forecast my health expenses.
Family of 4 - - Me and DW are 43/31. 2 kids, 10 and 6. Here's what I'm forecasting: (I have colitis, DW asthma. So far that's about it for the fun stuff. Based on family history, I'd guess eventually I'll go in for some sort of angioplasty, etc.
*$1500 per month, health insurance
(Bronze Level ACA plan where I pay 40%.)
*$400 per month, out of pocket expenses.
Perhaps not every month, but setting aside $4,800 per year for co-insurance for eventual colonoscopies, Emergency Rooms, etc etc. Perhaps a few surgeries as the years go by.
*$50 per month, specialist copays.
(2 specialist visits per year, per family member)
*350 per month, Prescription Drugs.
Now, let's say max "out of pocket" for ACA plan is $16,000. I'm obviously hoping we don't hit that. and setting aside $4,800 per year. IF we exceed that - then obviously health has become a problem and we'd cutback on things like dining out or vacations because not croaking tends to be a priority.
I imagine most of you have more life experience than I do so I'm wondering if you think this expense forecast is realistic?
Also if anyone would share your health expenses I'd really love to hear.
Thanks.
Family of 4 - - Me and DW are 43/31. 2 kids, 10 and 6. Here's what I'm forecasting: (I have colitis, DW asthma. So far that's about it for the fun stuff. Based on family history, I'd guess eventually I'll go in for some sort of angioplasty, etc.
*$1500 per month, health insurance
(Bronze Level ACA plan where I pay 40%.)
*$400 per month, out of pocket expenses.
Perhaps not every month, but setting aside $4,800 per year for co-insurance for eventual colonoscopies, Emergency Rooms, etc etc. Perhaps a few surgeries as the years go by.
*$50 per month, specialist copays.
(2 specialist visits per year, per family member)
*350 per month, Prescription Drugs.
Now, let's say max "out of pocket" for ACA plan is $16,000. I'm obviously hoping we don't hit that. and setting aside $4,800 per year. IF we exceed that - then obviously health has become a problem and we'd cutback on things like dining out or vacations because not croaking tends to be a priority.
I imagine most of you have more life experience than I do so I'm wondering if you think this expense forecast is realistic?
Also if anyone would share your health expenses I'd really love to hear.
Thanks.
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