Choosing no insurance or what is another option

[Krischaser]

The cost of insurance is crazy. I am getting it for my children but we are actually considering no insurance. Does anyone have any other suggestions. We are not eligible for any subsidy because our employers offer insurance but we are still paying for it 100%. The company contributes nothing. And that plan is considered affordable under the ACA but the family plan is outrageous. That is why I am putting the kids on a decent plan and now trying to figure out what plan if any to put myself and spouse on. Any suggestions?
Thanks!

 

[Shelly F - Ohio]

Have you checked with your health insurance company? Some of them also offer health care to individuals. Here in Ohio we can get health insurance from a big name company Medical Mutual. We used their coverage for a two month period when DH company closed. The monthly rate was great. Never had to use them as we were sick in the short time we had it but the coverage was pretty much the same offered from our old company.

 

[gracie1]

The cost of insurance is crazy. I am getting it for my children but we are actually considering no insurance. Does anyone have any other suggestions. We are not eligible for any subsidy because our employers offer insurance but we are still paying for it 100%. The company contributes nothing. And that plan is considered affordable under the ACA but the family plan is outrageous. That is why I am putting the kids on a decent plan and now trying to figure out what plan if any to put myself and spouse on. Any suggestions? Thanks!

I know how you feel. I had to give up health insurance as well.

 

[supersnoop]

Be sure you figure the tax penalty into you calculations. Insurance premiums are essentially paying someone else to take on risk. Make sure you're comfortable with the amount of risk you're taking on for the cost savings.

 

[Jajone]

One broken leg is expensive and never planned. Please at least get a major medical policy.

 

[Marionnette]

The cost of insurance is crazy. I am getting it for my children but we are actually considering no insurance. Does anyone have any other suggestions. We are not eligible for any subsidy because our employers offer insurance but we are still paying for it 100%. The company contributes nothing. And that plan is considered affordable under the ACA but the family plan is outrageous. That is why I am putting the kids on a decent plan and now trying to figure out what plan if any to put myself and spouse on. Any suggestions?
Thanks!

I totally understand where you're coming from. We always paid 100% of our premiums because we are self-employed. The monthly cost rivals a small mortgage!

One thing that I think you need to consider is that by having 2 policies, you will in effect more than double your OOP maximum for the family. For instance, the ACA limits OOP maximums to $6600 per individual and $13200 per family in 2015. A policy cannot have higher numbers. If you choose to have the kids on one policy and you & your spouse on a second policy, each policy will carry its own OOP maximums. That means that if one child gets sick and requires $6600 of medical care, that will not apply to the family OOP maximum for your and your husband. It will only apply to the policy that covers your children. So, think very carefully about having two different policies.

You will also want to consider the penalties for not carrying insurance, should you decide to take that path. In 2015, the tax penalty is $325 for each adult and $162.50 for each child, but no more than $975 total per family, or 2% of your family's yearly taxable income. You will have to pay the higher amount of the two up to a maximum amount equal to the average cost of a bronze plan. And you will still be responsible for any OOP health care costs for the two of you. With the IRS in charge of collecting this penalty (or is it a tax?), you really can't avoid paying it if you drop health insurance coverage.

Start looking on the healthcare.gov website for available plans. Even if you don't qualify for a subsidy, you will see what is open in your area and you can contact the insurance company directly to set up coverage.

 

[MagicalMawMaw]

My husband just quit his job & is starting his own business. So I have to find a insurance coverage for me. Lots of my friends are going with http://www.chministries.org this is a cheaper route to take & I know the ones that are with them have been happy with their claims. I haven't looked into it yet but I'm thinking it is like $45 a person on the lowest base plan , about $145 a person on a better plan coverage. .. Per month. You might want to check it out.

 

[gracie1]

My husband just quit his job & is starting his own business. So I have to find a insurance coverage for me. Lots of my friends are going with http://www.chministries.org this is a cheaper route to take & I know the ones that are with them have been happy with their claims. I haven't looked into it yet but I'm thinking it is like $45 a person on the lowest base plan , about $145 a person on a better plan coverage. .. Per month. You might want to check it out.

Wow! Those are awesome rates!

 

[gracie1]

I totally understand where you're coming from. We always paid 100% of our premiums because we are self-employed. The monthly cost rivals a small mortgage! One thing that I think you need to consider is that by having 2 policies, you will in effect more than double your OOP maximum for the family. For instance, the ACA limits OOP maximums to $6600 per individual and $13200 per family in 2015. A policy cannot have higher numbers. If you choose to have the kids on one policy and you & your spouse on a second policy, each policy will carry its own OOP maximums. That means that if one child gets sick and requires $6600 of medical care, that will not apply to the family OOP maximum for your and your husband. It will only apply to the policy that covers your children. So, think very carefully about having two different policies. You will also want to consider the penalties for not carrying insurance, should you decide to take that path. In 2015, the tax penalty is $325 for each adult and $162.50 for each child, but no more than $975 total per family, or 2% of your family's yearly taxable income. You will have to pay the higher amount of the two up to a maximum amount equal to the average cost of a bronze plan. And you will still be responsible for any OOP health care costs for the two of you. With the IRS in charge of collecting this penalty (or is it a tax?), you really can't avoid paying it if you drop health insurance coverage. Start looking on the healthcare.gov website for available plans. Even if you don't qualify for a subsidy, you will see what is open in your area and you can contact the insurance company directly to set up coverage.

Good advice about looking at the penalty. I did that and the penalty doesn't even come close to what I would have to pay for the coverage. I'm hoping in the bear future they focus on this and get things back to how they were.

 

[Krischaser]

So next year do you pay either the penalty or the percentage of your income? Also I don't understand the Christian health plan. Do you know anything about it? Thanks . I have been researching plans for 2 weeks. That's all I can think about

 

[msdaisy]

I think if you sign up for the Christian healthcare, you will still pay the penalty. I just looked at the site, and they don't appear to be qualified plans. It's really strange that they are using the gold, silver, and bronze titles. It's like they want them appear to be qualified, but then it says there is a cap per year. Qualified plans no longer have caps - like the old 1 million lifetime stuff. I would proceed with caution. Only qualified plans will eliminate the penalty. At least that is my understanding as an insurance agent. I am mainly auto and home, but we just started selling health.

 

[Marionnette]

So next year do you pay either the penalty or the percentage of your income? Also I don't understand the Christian health plan. Do you know anything about it? Thanks . I have been researching plans for 2 weeks. That's all I can think about

You pay whichever one is higher.

 

[gracie1]

So next year do you pay either the penalty or the percentage of your income? Also I don't understand the Christian health plan. Do you know anything about it? Thanks . I have been researching plans for 2 weeks. That's all I can think about

My understanding is that you pay whichever is the greater amount. Normally the percentage rate will give the higher penalty.

 

[finny1981]

I think if you sign up for the Christian healthcare, you will still pay the penalty. I just looked at the site, and they don't appear to be qualified plans. It's really strange that they are using the gold, silver, and bronze titles. It's like they want them appear to be qualified, but then it says there is a cap per year. Qualified plans no longer have caps - like the old 1 million lifetime stuff. I would proceed with caution. Only qualified plans will eliminate the penalty. At least that is my understanding as an insurance agent. I am mainly auto and home, but we just started selling health.

From the Christian Health Care website:

Individuals who are members of a health cost sharing ministry are exempted from penalty under the national health care bill (Patient and Protection Affordable Care Act or Obamacare). Christian Healthcare Ministries meets each of the qualifications set forth for health cost sharing ministries in the U.S. health care legislation.

To learn more, visit our Affordable Care Act page.

 

[Hisgirl]

Please do try to get something...anything in place. My son tore his ACL during a recreational sport and had to have surgery. $50,000 later, he was quite happy he had insurance.

 

[msdaisy]

From the Christian Health Care website: Individuals who are members of a health cost sharing ministry are exempted from penalty under the national health care bill (Patient and Protection Affordable Care Act or Obamacare). Christian Healthcare Ministries meets each of the qualifications set forth for health cost sharing ministries in the U.S. health care legislation. To learn more, visit our Affordable Care Act page.

Yes, I just googled it and read an article regarding them and the Amish being exempt. I looked at all three websites for the ministries. The insurance agent in me just can't get past the vagueness of the whole thing. It may or may not be covered. Sorry, I have to stick to a policy that spells it out to me. Plus, we have lots of prescriptions in my house and take advantage of preventative care. I'm sure this is a good fit for some - just not me. I would come unglued if there wasn't enough "share" to go around. Plus, pre-existing conditions aren't covered.

 

[gracie1]

Please do try to get something...anything in place. My son tore his ACL during a recreational sport and had to have surgery. $50,000 later, he was quite happy he had insurance.

I hate not having health insurance. I have never not had it and it's a bad feeling to know your not covered. I'm just hoping some things change because I cannot afford the premiums they want to charge.

 

[Krischaser]

It just stinks all the way around. It's cheaper to put hubby and I on cheaper plans and the kids on a better plan in their own with their regular doctors. Plus one is offering "POS" which is point of service where if I understand correctly as long as stitches, xrays, blood work are done at one place we pay copay. But the overall cost of everything even bottom of bronze is more than a mortgage payment. Then you still pay. My work is pressuring me to either decline theirs or join. Plus you have the Dec. 15th deadline for Jan 1st coverage. Ugh!

 

[MagicalMawMaw]

I really don't know much in how the Christian Health care works. I do know you pay yourself as if it is self pay & then file the claim.
I've known several that have the coverage & had maternity coverage & it paid very well. One had their baby in NICU for quite some time & the coverage was impressive.
I also know you don't pay a penalty if you have it but other than that I don't know much more.
We have always had insurance provided for us though my husbands employer & even if it wasn't very good we didn't pay for it.
Now I'm just interested in getting something right now that will help me avoid a penalty, he will have his though the company but adding me is quite pricy.

 

[gracie1]

Yes, I just googled it and read an article regarding them and the Amish being exempt. I looked at all three websites for the ministries. The insurance agent in me just can't get past the vagueness of the whole thing. It may or may not be covered. Sorry, I have to stick to a policy that spells it out to me. Plus, we have lots of prescriptions in my house and take advantage of preventative care. I'm sure this is a good fit for some - just not me. I would come unglued if there wasn't enough "share" to go around. Plus, pre-existing conditions aren't covered.

One other thing I don't think is fair is you have to include the whole household income. My parents live with me - and I don't think it's fair to have to add their income in with mine. They wouldn't be paying or contributing any money.