ACA INSURANCE IN NY - crazy expensive

[lisaross]

So we have been on it since the summer- husband lost job. I called to add an addl $10,000 of income from unemployment - so it brought us to about 50,000 for a hpusehold of 4 - the monthly payment went up about 200 a month and the deductible went from 500 to 1700 and co pays doubled - that's crazy -now I see y sometimes it's not worth earning more money...

 

[Jeff_G]

$200 x 12 + 1200 = $3,600. So the worse case you made 6,400 more then the insurance might cost you. I'd say its worth it. I guess you could give back the 10K of unemployment and have cheaper insurance.

Yes insurance is expensive and many of us have been spoiled by having our employers paying a good share of the premium.

 

[lisaross]

the monthly premium was 159.00 month - 500.00 deductible now it is
289.00 month $1700 deductible

289.00 x 12 = $3468.00 PLUS i have to reach our deductible of $1700 before we get covered for anything....so

3468.00 + 1700 = $5168.00 this is for the add'l 10,000 of income compared to

1908.00 + 500 = $2408.00

so $2760 difference....

Plus the 10,000 unemployment needs to be taxed - i'm just saying that i think its pretty expensive for a family of 4

 

[kymom99]

$3600 plus the higher copays could bring it close to half of the money brought in. And remember, unemployment is not free. You have to work and pay into it in order to get it. As the Op said, you can see why some folks just decide not to work, rather than have to pay more towards expenses. Not that it is right, but it does penalize people for working in a lot of cases.

I worked at Kmart years ago with a lady who was on public housing assistance. We were talking about our raises and she commented that she didn't care if she got a raise or not because her rent just went up when she got one. If a person has to choose between working and finding child care for their children or staying home and receiving assistance, it would be hard to justify working in those cases.

 

[supersnoop]

i'm just saying that i think its pretty expensive for a family of 4

My health insurance costs over $14,000 per year with a $4,000 deductible. Luckily, my employer covers most of that. Yes, health insurance is expensive. And you're still not paying for most of it.

The ACA provides federal subsidies for people making up to 400% (4x) the poverty level. So, you probably get a federal subsidy of over $9,000 towards that premium. That subsidy decreases so you pay a larger portion of the premium when you make more money.

 

[lisaross]

tHE SUBSIDY THEY Pay IS $5,572.00 PER YEAR - $481.00 A MONTH

My health insurance costs over $14,000 per year with a $4,000 deductible. Luckily, my employer covers most of that. Yes, health insurance is expensive. And you're still not paying for most of it.

The ACA provides federal subsidies for people making up to 400% (4x) the poverty level. So, you probably get a federal subsidy of over $9,000 towards that premium. That subsidy decreases so you pay a larger portion of the premium when you make more money.

 

[kymom99]

The other issue is that they don't even have the option of opting out of it. Everyone must carry some sort of insurance. If I were to lose my job I would lose insurance for my son and me. Right now I pay $120 a month for the lowest level of coverage. If I had to use the ACA insurance, it would cost a fortune and I would not be allowed to just go without for a few months until I might find another job.

OP, would it be possibel for you to take out a policy that just covered catastrophic events for the time being? If your family doesn't have any chronic health issues, you might be okay for a few months. When my husband lost his job, that is what we did for him. That was before ACA.

 

[lisaross]

YOU Could opt out - you would get a fine - and or you could sign your kids up and not yourself - again a fine

The other issue is that they don't even have the option of opting out of it. Everyone must carry some sort of insurance. If I were to lose my job I would lose insurance for my son and me. Right now I pay $120 a month for the lowest level of coverage. If I had to use the ACA insurance, it would cost a fortune and I would not be allowed to just go without for a few months until I might find another job.

OP, would it be possibel for you to take out a policy that just covered catastrophic events for the time being? If your family doesn't have any chronic health issues, you might be okay for a few months. When my husband lost his job, that is what we did for him. That was before ACA.

 

[Marionnette]

tHE SUBSIDY THEY Pay IS $5,572.00 PER YEAR - $481.00 A MONTH

Look at it this way, you're still being subsidized. Some of us pay the entire cost of our health insurance premiums, have high copays and high deductibles. And we've been doing it for years.

I thought that your husband was in a union? Don't they offer some kind of group insurance plan that you could purchase? It might be more affordable than any of the ACA plans.

 

[dawnball]

the monthly premium was 159.00 month - 500.00 deductible now it is
289.00 month $1700 deductible

289.00 x 12 = $3468.00 PLUS i have to reach our deductible of $1700 before we get covered for anything....so

3468.00 + 1700 = $5168.00 this is for the add'l 10,000 of income compared to

1908.00 + 500 = $2408.00

so $2760 difference....

Plus the 10,000 unemployment needs to be taxed - i'm just saying that i think its pretty expensive for a family of 4

For comparison - when we purchased health insurance on the open market (before the ACA), for just my daughter and I, it was $320/month and we had a $5000 deductible. That was still cheaper than putting us on my husband's employer-offered insurance. We were looking at $3672 more per year than you are, for half as many people.

Health insurance is expensive.

 

[lisaross]

i get it is expensive - i am saying that for a family of 4 - making $50,000 i find it extremely expensive - but perhaps i just have no clue....

 

[Marionnette]

i get it is expensive - i am saying that for a family of 4 - making $50,000 i find it extremely expensive - but perhaps i just have no clue....

I don't think that you're any more clueless than a lot of people. Many people have no idea how much an employer contributes to their health insurance premium. They only know what they pay out of each paycheck. It isn't until people lose a job and have to pay COBRA or turn to the ACA market for insurance that they realize just how much it really costs. Those of us who have paid 100% of our premiums all along know just how expensive it can be. It sucks but getting sick and not being covered sucks even more!

 

[Debbie7452]

Employers pay for all unemployment with Federal and State unemployment taxes. The employees do not pay into the system at all. Payroll taxes only go toward Social Security and Medicare.

 

[scrapquitler]

the monthly premium was 159.00 month - 500.00 deductible now it is
289.00 month $1700 deductible

289.00 x 12 = $3468.00 PLUS i have to reach our deductible of $1700 before we get covered for anything....so

3468.00 + 1700 = $5168.00 this is for the add'l 10,000 of income compared to

1908.00 + 500 = $2408.00

so $2760 difference....

Plus the 10,000 unemployment needs to be taxed - i'm just saying that i think its pretty expensive for a family of 4

Well if it's that much of a hardship, then don't collect the unemployment. You still come out ahead with the unemployment, even if it's mostly gone by the time you pay more expenses for health care. Any extra is extra. Make a choice, nobody is forcing you to take the unemployment.


You're still getting a bargain. We are self employed, so we don't get any kind of subsidy and no employer paying part of our premium. My family of 4 pays almost $1500 a month for our coverage, and that doesn't count our deductibles or co-pays.

 

[robinb]

Your insurance is considerably less than that provided by my DH's Fortune 500 company. We pay nearly twice as much for only 3 people.

 

[lisaross]

again its not the amount we pay but more about the amount we are paying compared to the income we are making....

 

[Marionnette]

again its not the amount we pay but more about the amount we are paying compared to the income we are making....

And again, if you were not receiving any subsidy, it would be considerably more than what you are currently paying and with no regard as to your income level. You're getting a gift from the taxpayers and you're complaining that the gift isn't big enough instead of being thankful for the gift you're receiving.

 

[lisaross]

I am not complaining rather stating that this amount is high to pay at the income level we have at this time.

 

[supersnoop]

again its not the amount we pay but more about the amount we are paying compared to the income we are making....

Your premiums are about 7% of your income. Your deductible is, worst case, another 3.4% of your income. Is that out of line?

 

[Callie]

The ACA is helping me out for the next two months, which is a blessing. My mothers insurance is ending due to her retiring, and I can't enroll in my companies insurance now until January. Its helping out a lot for those two months!

My mom is also getting help. Her insurance would be nearly $700 a month without any help. That is for a silver plan, so OP, be thankful!