Health insurance for youngsters
My husband and I are getting ready for our full timing lifestyle. We are 57 and 52, what are others in this age group finding for affordable health insurance?
Forum Discussion
I have been looking around at health care plans as DH and I will be going full time in January 2014 at the age of 47. A few things I have learned...
Maintaining our current insurance through COBRA is much more expensive then going to the marketplace for the exact same plan. People who think the cost of insurance is going to skyrocket don't realize how much their employer is currently paying for their insurance (which shouldn't change under ACA).
400% of poverty level is around $60K a year for a couple. Below this, a couple is eligible for rebates under the Affordable Care Act.
The state of Maryland, for 30 years, is one of the few states that regulates health care costs. Due to this, insurance is cheaper than most states. Significantly cheaper than some states. We will have have to weigh our state income tax payments against the increased cost of health insurance if changing residency.
BC/BS offers a "briefcase" plan that allows the insured to use insurance outside their home area at the same coverage levels. I noticed many plans only cover 50% of any charges outside of their home area. A significant medical event could cause major financial problems.
Walmart offers a $4 prescription program. This is cheaper than my current prescription plan. In fact, for the drugs I must take, it is cheaper to pay out of pocket for 90 days than it is to go through my prescription plan in 30 day increments. the plan is limited to generics and those are further limited.
We are still looking at our options and are hoping that, in October, when the exchanges go live, we will be better able to gauge our health care costs. Currently our plan is to go with a high deductible plan that covers 100% after that and is good across the country.
Maintaining our current insurance through COBRA is much more expensive then going to the marketplace for the exact same plan. People who think the cost of insurance is going to skyrocket don't realize how much their employer is currently paying for their insurance (which shouldn't change under ACA).
400% of poverty level is around $60K a year for a couple. Below this, a couple is eligible for rebates under the Affordable Care Act.
The state of Maryland, for 30 years, is one of the few states that regulates health care costs. Due to this, insurance is cheaper than most states. Significantly cheaper than some states. We will have have to weigh our state income tax payments against the increased cost of health insurance if changing residency.
BC/BS offers a "briefcase" plan that allows the insured to use insurance outside their home area at the same coverage levels. I noticed many plans only cover 50% of any charges outside of their home area. A significant medical event could cause major financial problems.
Walmart offers a $4 prescription program. This is cheaper than my current prescription plan. In fact, for the drugs I must take, it is cheaper to pay out of pocket for 90 days than it is to go through my prescription plan in 30 day increments. the plan is limited to generics and those are further limited.
We are still looking at our options and are hoping that, in October, when the exchanges go live, we will be better able to gauge our health care costs. Currently our plan is to go with a high deductible plan that covers 100% after that and is good across the country.
