Paying for health insurance

Paul127 wrote:
We are retiring at the age of 56, so we have a long time to purchase health care.

Here's the bad news . . .

Let's say you domiciled in Sumter County, FL (a good place for Escapees). The least expensive ACA plan would be the BlueSelect Bronze 1452 - EPO plan with a $7350 deductible. Actually a good plan since it provides out-of-state health networks which you need as a full timer.

Without subsidies, this EPO would cost you $1083 per month (or $12,996 per year) in premiums. To get a subsidy, you would have to make under $64,080 per year between the two of you. So if you had to pay your entire deductible + premiums, that would be $20,346 per year (without a subsidy).

BTW, you could also get hit with "balanced billing" charges. For example, let's say you need surgery and go to a hospital that is in your health plan network. You're covered, right? Maybe not. Let's say your anesthesiologist is not a doctor in your health plan network . . . you could end up paying for him.

Anyway, so you could pay $12,996 in 2018. Let's figure premiums continue to rise at 10% a year. (Lately, they've been going up much more.)

So at the end of 2026 (your last year buying health insurance before Medicare), you will have paid about over $176,000 in premium costs alone.