Hi all - hopefully, this post belongs in the "personal investments" area.
Considering taking the early retirement plunge (me = 57, DW= 58) in a couple of months. I'm evaluating the ACA options and want to make sure I'm understanding the numbers correctly. When I filter using "Easy Pricing" and put in local providers, I honed in on one which seemed to have the widest network locally (BlueCross BlueShield Silver "S"). Sticker premium = $2400/mo. With subsidies, we may pay say half that. Max OOP = $9100 per person so about $18K for the two of us.
1. There is a field called "Estimated All-in" which says $20K. Any idea how that is calculated? Is this really the worst case scenario?
2. For a bad health year, should we be budgeting 12 x 1200 + 2 x 9100 = $32K annually until we become eligible for Medicare in 8 years? Seems like we should move to Europe until we become eligible for Medicare?
I'm putting numbers into Pralana Gold (fantastic tool) to try and get a handle on this.
I'd love to hear how others approached modeling this. Balancing the opposing constraints of (a) keeping income low for ACA subsidies, plus (b) doing some Roth conversions was hard enough without the sheer sticker shock of the health plans. Do folks plan for this sort of outlay using taxable accounts until Medicare? Thanks for any guidance, much appreciated!
Considering taking the early retirement plunge (me = 57, DW= 58) in a couple of months. I'm evaluating the ACA options and want to make sure I'm understanding the numbers correctly. When I filter using "Easy Pricing" and put in local providers, I honed in on one which seemed to have the widest network locally (BlueCross BlueShield Silver "S"). Sticker premium = $2400/mo. With subsidies, we may pay say half that. Max OOP = $9100 per person so about $18K for the two of us.
1. There is a field called "Estimated All-in" which says $20K. Any idea how that is calculated? Is this really the worst case scenario?
2. For a bad health year, should we be budgeting 12 x 1200 + 2 x 9100 = $32K annually until we become eligible for Medicare in 8 years? Seems like we should move to Europe until we become eligible for Medicare?
I'm putting numbers into Pralana Gold (fantastic tool) to try and get a handle on this.
I'd love to hear how others approached modeling this. Balancing the opposing constraints of (a) keeping income low for ACA subsidies, plus (b) doing some Roth conversions was hard enough without the sheer sticker shock of the health plans. Do folks plan for this sort of outlay using taxable accounts until Medicare? Thanks for any guidance, much appreciated!
Statistics: Posted by musicislife — Wed Jan 03, 2024 1:05 pm — Replies 5 — Views 237