The accountant says we can retire early. Woohoo!!!

[CloverKnollFarms]

We pay under $400/mo for our family, for a non group plan, since we are self employed.

We are about to start paying about $150/mo.

 

[riptides]

We pay under $400/mo for our family, for a non group plan, since we are self employed.

We are about to start paying about $150/mo.

That's incredible. What kind of coverages and deductibles? Or point me at a web site.

I have been raked over coals for a decade due to medical issues within the family. Even went to court and lost. Fine print, ya know.

 

[DarkBlack]

At our age health insurance will be the biggest expense .. $2100.00 per month now and does nothing but go up every year. so over the next 8 years.. Its likely to be north of 3K a year..

You’re paying $25,200/year now , from your #’s. That’s a lot.
You mean $30k? I bet it’ll go up more than 20% in 8 years.

 

[ultrarunner]

Insee it everyday… those that worked years and have coverage and co pays and supplemental paid each month.

Then there is another demographic not worried in the least because home and health insurance covered through low income programs…

The divide I see almost comes down to property owners needing to protect what they work for and others often on assistance programs…

 

[gsganzer]

For a BCBS bronze plan, I was paying $1700/mo.

I now have a BCBS gold plan through the healthcare market place for $1100/mo. What I'll have to be extremely careful of is how much I earn each year, but with a $600/mo savings, I can handle busting the limit a little and still come out ahead. I'll see how it stacks up this year.

Here's the kicker though. I'm finding some places won't accept plans from the healthcare marketplace. How screwed up is that?

Our healthcare system is absolutely in shambles. I went to see a Dr the other month to get a cortisone shot in an arthritic ankle. It was cheaper to pay it out of pocket for $179 (50% discount if payed in full at time of service), then to run it through insurance.

 

[ultrarunner]

For a BCBS bronze plan, I was paying $1700/mo.

I now have a BCBS gold plan through the healthcare market place for $1100/mo. What I'll have to be extremely careful of is how much I earn each year, but with a $600/mo savings, I can handle busting the limit a little and still come out ahead. I'll see how it stacks up this year.

Here's the kicker though. I'm finding some places won't accept plans from the healthcare marketplace. How screwed up is that?

Our healthcare system is absolutely in shambles. I went to see a Dr the other month to get a cortisone shot in an arthritic ankle. It was cheaper to pay it out of pocket for $179 (50% discount if payed in full at time of service), then to run it through insurance.

^^^ This is often the case for minor things…

The delay and expense of coding and submitting and then resubmitting and reconciling is why many sole practitioners are getting out of accepting insurance or very selective…

 

[gsganzer]

^^^ This is often the case for minor things…

The delay and expense of coding and submitting and then resubmitting and reconciling is why many sole practitioners are getting out of accepting insurance or very selective…

25% of US healthcare costs is in administrative. Over 2x what it is to the next highest country.

 

[Snobdds]

So I do actuarial risk stuff for all the BCBS. We are acutely aware of how unaffordable health insurance is.

I was tasked with developing a product, that skirts the heavy benefit burdens of Obamacare or the ACA. We developed a product that is not health insurance, but a financial service product that we just started marketing to medium and large groups. We refer to is as a level funded model, but it is basically insurance without all the socially willed benefits (sex change surgeries etc.), where we project what their claims expense will be for the year. If the claims come in higher than the projection, we eat 50% of the amounts over the projection, the group then has to fund the additional 50%. If the claims come in lower than the projection, the group gets a refund to their premium of 100%. We as insurers have skin in the game to make sure we keep claims amounts in check.

This creates an incentive for groups to push their employees to get healthier through programs we have to get saved premium dollars; like diabetes management, disease management, fitness programs etc. The kicker is, we have to very accurately project claims, Rx rebates, and all other costs that a premium is made up of. We are able to do this now with very sophisticated AI programs that give us data on basically everyone that goes to a doctor.

It's incredibly complex and it's even hard for our sales staff to explain to business manages responsible for the procurement of health issuance. It so complex that I am having to meet with CEO and CFO of large companies to explain how it all works. I hate business travel, but I need to get the big companies to buy in and change how healthcare is financed. The good thing is, we might be able to preserve the health insurance market for the next 20 years and bring back affordably.

 

[Tomtint]

You’re paying $25,200/year now , from your #’s. That’s a lot.
You mean $30k? I bet it’ll go up more than 20% in 8 years.

I just looked at the bill this month.. 2177.00 per month for the 2 of us.. 26124.00 per year. I have no doubt it will be north of 30K in 8 years.

 

[CloverKnollFarms]

I think you could buy coverage on the marketplace for less. Wow

Being retired, my income is something I can control now, so affordable coverage is easy to find on the marketplace. Looks to be $215/mo in 2025.