Opting Out of Obamacare for 2019

[LostDollar]

Seriously, get the hell off this site. You add nothing, you're not an agent, and your opinions are generally wrong.

As far as manipulating the tax code, why is that a problem for you? Plus, it's none of your business. "Pay your share". What a f*cking libtard you are.

Rick

So as the Libertarian candidate for state senate you are saying that I should be paying for your health insurance?

 

[GreenSky]

So as the Libertarian candidate for state senate you are saying that I should be paying for your health insurance?

I'm saying you don't belong on this website. If you want to have a political discussion this is not the place. Of course, that has yet to stop you from posting all the bullshit you can.

Rick

 

[LostDollar]

I'm saying you don't belong on this website. If you want to have a political discussion this is not the place. Of course, that has yet to stop you from posting all the bullshit you can.

Rick

It is an insurance website and you just criticized me for telling op he should pay his share of his health insurance bill. You were the one out of line on that one.

 

[GreenSky]

It is an insurance website and you just criticized me for telling op he should pay his share of his health insurance bill. You were the one out of line on that one.

You wrote one thing that is correct. This is an INSURANCE website and a great place for actual INSURANCE agents.

I think everyone should pay their fair share and that personal income taxes are unconstitutional.

But that has nothing to do with a troll like you being here expressing incorrect opinions and asking questions just for the sake of asking questions.

Now shoo.

Rick

 

[myinsurebiz]

Putting ACA and commission in the same sentence haha.

15 dollars a month

haha

Not much difference than a MA . . .

Some counties are $18 to $20 . . .

 

[verykenn]

With ACA, as your income rises, your premiums rise and your coverage drops; as you already know.

The hard part for most people at or near 400% of the Federal Poverty Limit is controlling income. It's the new game with ACA for those people. If you can make adjustments to get your income under 400%, you will be fine.

For those who have little or no control of income(w2 or live up to/beyond their means), the law really hits hard.

Depending if you own a business, consider solo401k, HSAs, buying equipment for business, etc to get the MAGI lower. The potential draw back here is you have to have enough cash leftover at the end of the year with the business to fund all of those accounts. Too many people who are self employed have allowed their lifestyle to rise to their incomes.

Indeed, the threshold is severe, to say the least. But that's part of the problem with ACA. The rules in ACA itself have built-in punishment instead of tapering off. It makes no sense. Then the outrage is compounded by insurers leveraging every last dollar to game the system, thereby making it a five-fold jump for people like me.

Thank you for mentioning 401(k) solo, which I already have. And buying equipment for the business is indeed my December shopping spree. Being continually self-employed since '96 is testament to frugal living. I've survived both the dot-com bust and the mortgage crisis.

All this topic is really just risk assessment. Funny to see some here getting all twisted.

In other words, look at the last time I had an accident. In 2003 I needed stitches due to a cut. It was deep enough that I went to the nearest emergency room.

And the total cost? After counting every related bill for the entire year, my total expense was still LESS THAN my deductible of $4500! Even if I had higher expenses, I still would've had to pay 40% of everything until reaching my out-of-pocket max of $6000. Today the max is $6550.

What sense does it make to pay $7376 a year for the right to pay $6550 a year for common "accidents?" That's a total of $13926!

And so it's really just catastrophic coverage that I need. This ACA jump is a poor fit.

Now if I look at the likelihood of a semi-catastrophic expense, say $100000, how long would I need to save up for that? How about 10 years at a clip of $7376 a year?! Which would no doubt increase by $1000 or so each year. Add investment gains. Voila. Self-insured.

Then if I look at a true major catastrophic situation, say $1million, shit — they can take my house! Chances are, though, I will be asking them to just pull the plug on me. Let me die.

I think everybody should do this type of risk assessment. This is what insurance is all about.

 

[somarco]

 

[Sonja B]

New forum member here.

I've just updated my info at CoveredCA (Obamacare in California). My income estimate for 2019 is a hair above the Obamacare cutoff. I'm self-employed. And income should continue to rise. So I did some number crunching to review.

Now thinking of opting out of health insurance entirely for a few years! See attached file.

I'm strong and healthy. No family history of disease. Grandmother passed away at age 98 — only by accident (many years ago). Father still strong at 92. Mother similar. Both still active. I eat right, exercise, don't smoke or drink. Most important is that, now at age 55, I'm as adult and responsible as ever. Risks are low for me.

Financially, health insurance doesn't make sense to me. I've always been properly insured for everything. But now I can't pay over 7k a year for unnecessary health insurance. Might be better to invest it. Ten years of compounding returns can do wonders.

Seem reasonable? Look at the outrageous cost increases. Advice? You can't scare me with "cost of unexpected accident" scenario.

What else am I missing?

People like me are squeezed out — and only because of a slightly higher income.
View attachment 4769

I'm an health (and life/accident) insurance agent, I used to primarily work with Covered California/ Marketplace/ Obamacare plans, however there are SO many people in your situation who's income is a bit to high and are ineligible for subsidies. For the past year or so I've switched my focus to Health Sharing plans (also known as Medical Sharing/Medishare). They're designed for people who are relatively healthy, their income makes them ineligible for subsidies so regular health insurance is extremely expensive and has high deductibles & co-pays.
There's several Health Sharing companies and I work with the 5 main ones. You'll have a lower monthly premium, lower copays ( $20), and lower deductibles. They're non-profit and there have a few minor differences from regular insurance, so it's not the best option for eveyone. Also there's several Medishare companies, so you want to make sure you go eith the right one. If you (or anyone else reading this) is interested in a quote and more information let me know! Uou can reach me via call or text and I'm licensed in over 30 states.

Best,
Sonja
907.299.382o

 

[myinsurebiz]

I'm an health (and life/accident) insurance agent, I used to primarily work with Covered California/ Marketplace/ Obamacare plans, however there are SO many people in your situation who's income is a bit to high and are ineligible for subsidies. For the past year or so I've switched my focus to Health Sharing plans (also known as Medical Sharing/Medishare). They're designed for people who are relatively healthy, their income makes them ineligible for subsidies so regular health insurance is extremely expensive and has high deductibles & co-pays.
There's several Health Sharing companies and I work with the 5 main ones. You'll have a lower monthly premium, lower copays ( $20), and lower deductibles. They're non-profit and there have a few minor differences from regular insurance, so it's not the best option for eveyone. Also there's several Medishare companies, so you want to make sure you go eith the right one. If you (or anyone else reading this) is interested in a quote and more information let me know! Uou can reach me via call or text and I'm licensed in over 30 states.

Who are the 5 that you deal with?

 

[Yagents]

They're non-profit and there have a few minor differences from regular insurance, so it's not the best option for eveyone. o

I'm sure one of the "differences" in your disclosure to them and the public that..............THEY ARE NOT INSURANCE !! Major difference.