I'm 56, a non-smoker, in good shape, but have no health insurance. I'm now ready to bite the proverbial bullet. All things considered, it appears my best value is a plan through LifeWise with a $7,500 deductible, and 30% co-insurance. It covers prescriptions. The monthly premium is $245. (a $5,000 deductible increases the premium to $378. Same 30% co-insurance). I can add dental for $46 if I want. Does this seem typical? Thanks for any input!
$245 seems high and the 30% co-insurance seems high as well. You should be able to find a $10,000 deductible http://tightfistedmiser.com/2011/12/13/how-much-does-individual-health-insurance-cost/ This guy reports he pays less than $50/mo at age 44.
Thanks, Denny. I'm gonna look into all of that, tonight. Not quite sure what a "temporary" policy is, though. That said, I received my quote through e-healthinsurance...the same place this guy was mentioning. Thanks again.
You can look into HSAs to supplement your insurance. These allow you to put money, pre-tax, into an account. When you visit the doctor, you use the ATM card associated with that account. If you rack up money in the account over the years, you can draw on it when you retire. I think I remember reading that for a single person, the average health care policy costs under that $245. That's a full-blown policy. Age 56 probably matters quite a bit though. I'm not a lawyer or tax accountant, so take my advice for what it's worth ($0!!!)
I had a 10k deductible policy when I was 25 and think it was only $40 a month or something ridiculous. I've had coverage through my job for awhile now. I'd definetely look into HSA here is a good thread in another forum http://www.fatwallet.com/forums/finance/542257/
Beautiful, I'm gonna do just that: http://www.treasury.gov/resource-center/faqs/Taxes/Pages/Health-Savings-Accounts.aspx Thanks!
I just saw the rates. Uhmmm....no thanks, Gov. http://www.oregon.gov/oha/OPHP/OMIP/OMIP Docs/Rates_2013.pdf
Right on. I figure if nothing else, he can point you in the right direction. As a broker, he has access to many companies rates, so he can shop around.
The lesson in all of this is that ABM is shopping and driving down his own cost. That's what's really broken in the health care system.
So ABM, you should have a real intersting take on health insurance. You are 56, employed but without health insurance. Do you find today's choices with health care satisfactory and/or are you at all bitter with how much you are going to have to pay or consider it just another cost of living expense? Did you ever consider not getting health care due to the cost? Do you think your employer should be responsible for this cost?
