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  1. #1
    Join Date
    Jan 2017
    Location
    interior Alaska
    Posts
    191

    Default affordable heath insurance from 60-65 years old?

    A couple with an income of $33,000 each in Mineral County, Montana would have to pay over $12,000 per year for the
    highest deductable ($4,900 deductable, 30% co-insurance) blue cross plan. In Alaska, the rate is over $25,000 per year
    for a couple with income of $44,000 each for the highest deductable plan available.

    Are there other options besides not paying for health insurance and taking your chances?

  2. #2

    Default

    You could pretend to be an illegal alien and get free health care, food and housing courtesy of New York governor Cuomo. Only the illegals get free health care. As for reasonable health care costs for a US citizen, there isn't any that I'm aware of. Our legislators are "working on it".

  3. #3
    Join Date
    Sep 2013
    Location
    Central Minnesota
    Posts
    753

    Default

    Great question. I'm 43 and I'm already worrying / wondering about it, if I live that long.

  4. #4

    Default

    I have no idea if these work and I would do a whole lotta thinking before I jumped in, but I have been reading a little about ‘health sharing’ organizations. https://www.healthmarkets.com/resour...an-healthcare/. If they work they are way cheaper.
    Freedom Is Not Free

  5. #5
    Join Date
    Jan 2017
    Location
    interior Alaska
    Posts
    191

    Default

    Quote Originally Posted by VikingsGuy View Post
    I have no idea if these work and I would do a whole lotta thinking before I jumped in, but I have been reading a little about ‘health sharing’ organizations. https://www.healthmarkets.com/resour...an-healthcare/. If they work they are way cheaper.
    Thanks.
    That's is what I was thinking my first 6 months in retirement (at 62 in June).

    Obamacare Heath Insurance is less than $100 per year as subsidized if as a couple we make less than $82,000 in Alaska,
    >$25,000 if we make more than $82,000 so the next year we could limit our gross income to less than $82,000 in Alaska.

  6. #6
    Join Date
    Dec 2010
    Location
    Bozeman, MT
    Posts
    4,417

    Default

    I know several people who have looked in depth at this question and their isn't much you can do. Before enrolling in any of those religious health sharing plans check with the Health Insurance Commission (in MT that is our State Auditor) to make sure they don't have complaints. Also, check with several insurance agents for ideas as they no longer have the conflict of interest that they use to have.

    You've stumbled onto one of my pet peeves, which is the income cut-off brick wall on the ACA subsidy. Using this calculator you can see that a 62 year old couple's health insurance cost will increase $25,372/year if their income changes from $65,840 to $65,841 (Montana example). That extra $1 cost you $25,372! This isn't that hard... Congress needs to update the formula by which the subsidy is calculated but they have other priorities.

    About the only thing you can do is use financial planning to manage your income. Talk with a tax man.

  7. #7
    Join Date
    Jan 2017
    Location
    interior Alaska
    Posts
    191

    Default

    Quote Originally Posted by RobG View Post
    I know several people who have looked in depth at this question and their isn't much you can do. Before enrolling in any of those religious health sharing plans check with the Health Insurance Commission (in MT that is our State Auditor) to make sure they don't have complaints. Also, check with several insurance agents for ideas as they no longer have the conflict of interest that they use to have.

    You've stumbled onto one of my pet peeves, which is the income cut-off brick wall on the ACA subsidy. Using this calculator you can see that a 62 year old couple's health insurance cost will increase $25,372/year if their income changes from $65,840 to $65,841 (Montana example). That extra $1 cost you $25,372! This isn't that hard... Congress needs to update the formula by which the subsidy is calculated but they have other priorities.

    About the only thing you can do is use financial planning to manage your income. Talk with a tax man.
    Thanks. After 30 years in AK, we plan on moving permanently to Montana in a few years
    (much longer hunting season and we have relatives in Lolo, Missoula, Superior).

    Same threshold problem in Alaska and only one ACA carrier (blue cross) which is essentially a monopoly....
    good advice on checking about complaints with a specific health share plan!

  8. #8
    Join Date
    May 2010
    Location
    Boise, Idaho
    Posts
    3,660

    Default

    Feel for you all! Sometimes being an old phart has it's upside in my case.
    "Talk low, talk slow and don't say too much." John Wayne

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