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  1. #1
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    Health insurance??

    Have ben getting our health insurance through the wife's employer. She is changing jobs and we are now on our own.
    Continued coverage through previous employer is $950 a month for a 60-year-old and a 57-year-old, non-smokers, excellent health.
    Still digging for coverage descriptions but I think we only have $2500 deductible's, I think for each of us.
    Last time I bought health insurance on my own it was $170 a month.
    Is this COBRA screwing us or is it really that expensive these days?

    Any help/advice would be greatly appreciated. Thanks guys
    I'd rather be competitive w/junk I built in my garage than win w/stuff I bought.


    I refuse to allow common sense to interfere w/my boat buying decisions.


    Checkmate 16' 140 Johnson
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  2. #2
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    I don't know the $ answer (not married); but I would look into a high-deductible plan with an HSA (Health Savings Account).

    Basically I put some of the money that I saved with the lower premium into the health savings account; then when I had enough in the account to cover a higher deductible; I switched to a higher deductible plan (and saved more on the premium).

    In theory, as the premium goes up with my age... I can keep choosing higher deductible plans to keep the premiums in check and I'll already have the deductible set aside in the HSA so no out-of-pocket surprises. The money in the HSA (mutual fund) earns tax-free and there's no (federal) tax/penalty as long as you pay medical expenses with it.

    https://en.wikipedia.org/wiki/Health_savings_account

    You can shop plans on healthcare.gov to what they should cost: https://www.healthcare.gov/

  3. #3
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    Quote Originally Posted by David - WI View Post
    I don't know the $ answer (not married); but I would look into a high-deductible plan with an HSA (Health Savings Account).

    Basically I put some of the money that I saved with the lower premium into the health savings account; then when I had enough in the account to cover a higher deductible; I switched to a higher deductible plan (and saved more on the premium).

    In theory, as the premium goes up with my age... I can keep choosing higher deductible plans to keep the premiums in check and I'll already have the deductible set aside in the HSA so no out-of-pocket surprises. The money in the HSA (mutual fund) earns tax-free and there's no (federal) tax/penalty as long as you pay medical expenses with it.

    https://en.wikipedia.org/wiki/Health_savings_account

    You can shop plans on healthcare.gov to what they should cost: https://www.healthcare.gov/
    Great info David. We've done the HSA deal for yrs where her employer matched it.
    continuong on our own to go against premiums is a great idea.

    I tried to shop but ran into it not being "open enrollment" so never got to cost.
    Thats was trying to go private though.

    Id like to wait on my man to fix it but the Mrs won't allow it ��
    I'd rather be competitive w/junk I built in my garage than win w/stuff I bought.


    I refuse to allow common sense to interfere w/my boat buying decisions.


    Checkmate 16' 140 Johnson
    Hydrostream 17' Vector FrankenRude I
    Laser 480 (?) 21' w/GT 200
    Glastron Carlson Conquest w/XP 2.6
    Glastron Carlson CVX 20 w/XP 2.6
    24' Sonic w/twin 250 Johnsons
    24' Sonic w/twin 250 HO Johnsons
    19' STV River Rocket w/FrankenRude II
    Allison XR 2002 w/Frankenrude II
    Hydrostream 18' V-King w/Frankenrude II

  4. #4
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    I think you can click on something that says "see if you're eligible for special enrollment" or something like that; maybe green box "See if I can enroll". Just click yes on one of the boxes... say your income has changed or you lost your coverage.

    It's only shopping... not enrolling at that point.

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  6. #5
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    Gary I am no expert and I can direct more questions towards my sister she knows quite a bit and she will be back later this week. 950 is not bad from what I'm hearing for insurance. Obama care has gone out of site and the new proposed system is no better. I would think it wise to grab the cobra so you have something and like you are doing look. David offered some strong advice and like I say I will see what my sister says when she comes back. Good luck on this matter. Rick

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  8. #6
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    I'm no expert but when i was on cobra from a former job the insurance company only had to give you 18 months.

    COBRA requires that continuation coverage extend from the date of the qualifying event for a limited period of 18 or 36 months. The length of time depends on the type of qualifying event that gave rise to the COBRA
    rights. A plan, however, may provide longer periods of coverage beyond the maximum period required by law.
    https://www.google.com/url?sa=t&sour...Ab_KnPI8JW0E8A

  9. #7
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    Quote Originally Posted by 282 View Post
    I would stay with cobra if the plan was a good plan, i own my own business(small) so not a ton of power to negotiate with the ins companies. If it is a good plan 950 on cobra is good, if you go on your own you might pay more or you might pay less but the plan will most likely not be as good.
    Great info.
    Thank you very much.
    I'd rather be competitive w/junk I built in my garage than win w/stuff I bought.


    I refuse to allow common sense to interfere w/my boat buying decisions.


    Checkmate 16' 140 Johnson
    Hydrostream 17' Vector FrankenRude I
    Laser 480 (?) 21' w/GT 200
    Glastron Carlson Conquest w/XP 2.6
    Glastron Carlson CVX 20 w/XP 2.6
    24' Sonic w/twin 250 Johnsons
    24' Sonic w/twin 250 HO Johnsons
    19' STV River Rocket w/FrankenRude II
    Allison XR 2002 w/Frankenrude II
    Hydrostream 18' V-King w/Frankenrude II

  10. #8
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    Gary, typically Cobra is really expensive though that may be partly because her employer was covering a big piece or all of the premium. But at least you have it until you can find something. And the $950 is way less than my Cobra last time (2005) which was more like $1600. There is something that is a problem if you have an uninsured gap, though I am not really sure what; it may be that they cannot exclude pre-existing conditions if your insurance is continuous.

    I don't know jack about Obamacare, but I know that employer plans with a specific "open enrollment" period usually allow changes/enrollment outside of open enrollment due to certain life-changing events, like your spouse changing jobs.

    David, I am jealous of your situation. I dump 7 grand into the HSA every year, but with my employer's generous $5k deductible (they do provide 1 grand of the 7) I seem to spend most of it every year.
    Per Rock:

    "Once I bought my first Hydrostream boating changed forever for me."

    Per my hero Instigator:

    "I try not to let common sense interfere w/my boat buying decisions."


    Pat Gent
    cell 954-249-3246
    '78 Hydrostream Vandal (being rebuilt)
    '86 21' Eliminator Daytona, 300 OMC V-8 (Li'l Toy III)

  11. #9
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    Quote Originally Posted by Li'l Toy View Post
    David, I am jealous of your situation. I dump 7 grand into the HSA every year, but with my employer's generous $5k deductible (they do provide 1 grand of the 7) I seem to spend most of it every year.
    I've just been fortunate to have only about $1000 total in medical bills over the past 5 years; so the HSA had a chance to build up.

  12. #10
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    Gary I don't know if you are a Christian or not but if you are there are a few Christian health cost shares that are affordable.
    I'm not a member of any of them, just thought I'd post it as it might help you or someone else.

    https://www.chministries.org/guidelines.aspx
    http://www.medicalcostsharing.com/
    -----------------------
    93 STV Mod VP/MERC 2.5 200
    -----
    The Bible is life's instruction manual.

    Proverbs 4:18-20

    " For a nation that is afraid to let its people judge the truth and falsehood in an open market is a nation that is afraid of its people."
    -- John F. Kennedy 1962

  13. #11
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    Great info. Thanks guys.

    On COBRA, it has been explained to me that when you leave your employer you're now paying their share of your premium too. Makes total sense.
    I always thought it was the insurance companies way of running if the individual, high risked.
    Thank you Euroski. Sorry Pat, I didn't read your reply clearly enough to catch that part.

    CDave, I am and I've heard about that. Great idea and thx.

    My wife took early retirement from one company (after 43 yrs!!) and is going to work as a sole proprietor as I am so we are adjusting to many changes in our lives.
    I'd rather be competitive w/junk I built in my garage than win w/stuff I bought.


    I refuse to allow common sense to interfere w/my boat buying decisions.


    Checkmate 16' 140 Johnson
    Hydrostream 17' Vector FrankenRude I
    Laser 480 (?) 21' w/GT 200
    Glastron Carlson Conquest w/XP 2.6
    Glastron Carlson CVX 20 w/XP 2.6
    24' Sonic w/twin 250 Johnsons
    24' Sonic w/twin 250 HO Johnsons
    19' STV River Rocket w/FrankenRude II
    Allison XR 2002 w/Frankenrude II
    Hydrostream 18' V-King w/Frankenrude II

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