Early retired people—how much is your health insurance premium?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Not aca.

$5300/month for 4 of us. Ppo

Why??!!

Why what?

This is crazy! 60k a year in health insurance premiums?? Wow. I never realized they could get that high.

Crap, I would rather work at home depot when i am "retired" just to get health insurance..

Well, there is a single - one - option in all of VA for a ppo. Well, there are two options: a gold and silver ppo. We did gold for years and it wasn’t worth the extra amount so this is the “lower” silver amount. I didn’t retire young to scrimp on health insurance but it is outrageous.

Couple of questions:
- Assuming premiums are lower in MD (or somewhere close by where you can go for doctor's visits), can't you buy an MD plan with a MD address (rent a closet somewhere)?
- I've read about people with very low income ($0 earned/low investment income) but a ton of assets get marketplace discounts. Is that true? What are the rules?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Not aca.

$5300/month for 4 of us. Ppo

Why??!!

Why what?

This is crazy! 60k a year in health insurance premiums?? Wow. I never realized they could get that high.

Crap, I would rather work at home depot when i am "retired" just to get health insurance..

Well, there is a single - one - option in all of VA for a ppo. Well, there are two options: a gold and silver ppo. We did gold for years and it wasn’t worth the extra amount so this is the “lower” silver amount. I didn’t retire young to scrimp on health insurance but it is outrageous.

Couple of questions:
- Assuming premiums are lower in MD (or somewhere close by where you can go for doctor's visits), can't you buy an MD plan with a MD address (rent a closet somewhere)?
- I've read about people with very low income ($0 earned/low investment income) but a ton of assets get marketplace discounts. Is that true? What are the rules?

The rules are they go by tax returns (annual gross household income) not assets. The federal government pays subsidies to the insurance company with the understanding that you make what you say you make. If you underreport your income or change jobs/get a raise and you don’t report it, you will owe those subsidies back when you file your taxes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Not aca.

$5300/month for 4 of us. Ppo

Why??!!

Why what?

This is crazy! 60k a year in health insurance premiums?? Wow. I never realized they could get that high.

Crap, I would rather work at home depot when i am "retired" just to get health insurance..

Well, there is a single - one - option in all of VA for a ppo. Well, there are two options: a gold and silver ppo. We did gold for years and it wasn’t worth the extra amount so this is the “lower” silver amount. I didn’t retire young to scrimp on health insurance but it is outrageous.

Couple of questions:
- Assuming premiums are lower in MD (or somewhere close by where you can go for doctor's visits), can't you buy an MD plan with a MD address (rent a closet somewhere)?
- I've read about people with very low income ($0 earned/low investment income) but a ton of assets get marketplace discounts. Is that true? What are the rules?

The rules are they go by tax returns (annual gross household income) not assets. The federal government pays subsidies to the insurance company with the understanding that you make what you say you make. If you underreport your income or change jobs/get a raise and you don’t report it, you will owe those subsidies back when you file your taxes.

This. It’s insurance fraud if you take a plan out claiming you live somewhere that you don’t. I retired young with money. I’m not skimping on health insurance or my morality as a result.

[Anonymous]

Anonymous wrote:2400 a month for two of us in MD mid tier plan bought in the exchange we are in our late 50’s no major health issues

Wow, are you sure?? I am late 40s. My MD plan is 590 a month, for me - it's a gold carefirst PPO. That's without any subsidy. And it's going down to 530 next year. You should shop around. I hope that extra tens years doesn't more than double the premium cost!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Not aca.

$5300/month for 4 of us. Ppo

Why??!!

Why what?

This is crazy! 60k a year in health insurance premiums?? Wow. I never realized they could get that high.

Crap, I would rather work at home depot when i am "retired" just to get health insurance..

Well, there is a single - one - option in all of VA for a ppo. Well, there are two options: a gold and silver ppo. We did gold for years and it wasn’t worth the extra amount so this is the “lower” silver amount. I didn’t retire young to scrimp on health insurance but it is outrageous.

Couple of questions:
- Assuming premiums are lower in MD (or somewhere close by where you can go for doctor's visits), can't you buy an MD plan with a MD address (rent a closet somewhere)?
- I've read about people with very low income ($0 earned/low investment income) but a ton of assets get marketplace discounts. Is that true? What are the rules?

The rules are they go by tax returns (annual gross household income) not assets. The federal government pays subsidies to the insurance company with the understanding that you make what you say you make. If you underreport your income or change jobs/get a raise and you don’t report it, you will owe those subsidies back when you file your taxes.

This. It’s insurance fraud if you take a plan out claiming you live somewhere that you don’t. I retired young with money. I’m not skimping on health insurance or my morality as a result.

Where's the fraud if you rent a place in that state, especially a neighboring state like MD and all your doctors are there? Does Obamacare prevent you from owning/using multiple residences?

[Anonymous]

You can rent wherever you like, obviously, but you can’t just pick a home somewhere and claim residency and secure a health ins policy in that jurisdiction.

https://www.verywellhealth.com/health-insurance-for-multiple-states-4584359

[Anonymous]

Anonymous wrote:

Anonymous wrote:How do you research for this? We’re 50’s, enough money, and just starting to talk about a “walk away” scenario. Assuming no employer plan is available, how would I estimate what are coverage options are? (Especially now that I see the dramatic differences in premiums paid by pps).

https://www.healthcare.gov/see-plans/#/

Is there a net worth threshold for this or open to all?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DH is retired fed. We are both 55. We kept federal BC/BS. We pay around $500ish a month.

Is he a special retirement group? I thought minimum age is 56 or 57.

He is.

54 and same.

[Anonymous]

Anonymous wrote:

Anonymous wrote:2400 a month for two of us in MD mid tier plan bought in the exchange we are in our late 50’s no major health issues

Wow, are you sure?? I am late 40s. My MD plan is 590 a month, for me - it's a gold carefirst PPO. That's without any subsidy. And it's going down to 530 next year. You should shop around. I hope that extra tens years doesn't more than double the premium cost!

The cost goes up in older age groups.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:2400 a month for two of us in MD mid tier plan bought in the exchange we are in our late 50’s no major health issues

Wow, are you sure?? I am late 40s. My MD plan is 590 a month, for me - it's a gold carefirst PPO. That's without any subsidy. And it's going down to 530 next year. You should shop around. I hope that extra tens years doesn't more than double the premium cost!

The cost goes up in older age groups.

It’s also higher for smokers and it’s higher for women under 40 because they assume you’ll have a baby/need maternity benefits.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DH is retired fed. We are both 55. We kept federal BC/BS. We pay around $500ish a month.

Is he a special retirement group? I thought minimum age is 56 or 57.

He is.

54 and same.

51 and same plus we have all the kids on it to. I still work (DH retired Fed) and it is so good that we stay on his and not mine via my employer.

[Anonymous]

$1,313 for retiree (from teaching) +1, Kaiser Permanente.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Not aca.

$5300/month for 4 of us. Ppo

Why??!!

Why what?

This is crazy! 60k a year in health insurance premiums?? Wow. I never realized they could get that high.

Crap, I would rather work at home depot when i am "retired" just to get health insurance..

Well, there is a single - one - option in all of VA for a ppo. Well, there are two options: a gold and silver ppo. We did gold for years and it wasn’t worth the extra amount so this is the “lower” silver amount. I didn’t retire young to scrimp on health insurance but it is outrageous.

I’m the poster who said our ‘21 monthly ins premium was $5300/month for a ppo. To recap: it is the only ppo option available in VA. Our premium went down for the first time in years in ‘22 to $4900 and we just received a notice that our ‘23 coverage will be $3900. We are thrilled.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Not aca.

$5300/month for 4 of us. Ppo

Why??!!

Why what?

This is crazy! 60k a year in health insurance premiums?? Wow. I never realized they could get that high.

Crap, I would rather work at home depot when i am "retired" just to get health insurance..

Well, there is a single - one - option in all of VA for a ppo. Well, there are two options: a gold and silver ppo. We did gold for years and it wasn’t worth the extra amount so this is the “lower” silver amount. I didn’t retire young to scrimp on health insurance but it is outrageous.

Couple of questions:
- Assuming premiums are lower in MD (or somewhere close by where you can go for doctor's visits), can't you buy an MD plan with a MD address (rent a closet somewhere)?
- I've read about people with very low income ($0 earned/low investment income) but a ton of assets get marketplace discounts. Is that true? What are the rules?

The rules are they go by tax returns (annual gross household income) not assets. The federal government pays subsidies to the insurance company with the understanding that you make what you say you make. If you underreport your income or change jobs/get a raise and you don’t report it, you will owe those subsidies back when you file your taxes.

This. It’s insurance fraud if you take a plan out claiming you live somewhere that you don’t. I retired young with money. I’m not skimping on health insurance or my morality as a result.

Where's the fraud if you rent a place in that state, especially a neighboring state like MD and all your doctors are there? Does Obamacare prevent you from owning/using multiple residences?

Don't ry this or your next address may be in the penitentary.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Not aca.

$5300/month for 4 of us. Ppo

Why??!!

Why what?

This is crazy! 60k a year in health insurance premiums?? Wow. I never realized they could get that high.

Crap, I would rather work at home depot when i am "retired" just to get health insurance..

Well, there is a single - one - option in all of VA for a ppo. Well, there are two options: a gold and silver ppo. We did gold for years and it wasn’t worth the extra amount so this is the “lower” silver amount. I didn’t retire young to scrimp on health insurance but it is outrageous.

Couple of questions:
- Assuming premiums are lower in MD (or somewhere close by where you can go for doctor's visits), can't you buy an MD plan with a MD address (rent a closet somewhere)?
- I've read about people with very low income ($0 earned/low investment income) but a ton of assets get marketplace discounts. Is that true? What are the rules?

The rules are they go by tax returns (annual gross household income) not assets. The federal government pays subsidies to the insurance company with the understanding that you make what you say you make. If you underreport your income or change jobs/get a raise and you don’t report it, you will owe those subsidies back when you file your taxes.

This. It’s insurance fraud if you take a plan out claiming you live somewhere that you don’t. I retired young with money. I’m not skimping on health insurance or my morality as a result.

Where's the fraud if you rent a place in that state, especially a neighboring state like MD and all your doctors are there? Does Obamacare prevent you from owning/using multiple residences?

Don't ry this or your next address may be in the penitentary.

This. And how hard is it to figure out? All doctors would have your real address.