What is a FAIR Health Insurance Premium for a 5700 Deductible.?

7.31.2017

Here is what OUR Federal Government says...

First, look at this chart and find where you are with I.R.S. Household Size and Annual Income.
(Tip: "Income" is your Modified Adjusted Gross Income (MAGI). Line 37 on your IRS form 1040. Basically, it's gross income minus deductions, such as Mortgage Interest, Business Expenses, etc.)ext


Next, reference the below chart to find what percentage of your income the government says you can afford, for paying premiums.


If you are on ObamaCare, the Federal Government will, in general, pay what is not "affordable" according to their guidelines.

For example, if you are single and your MAGI is $35,000 a year, you are at 300% of the Federal Poverty Level (FPL). You are expected to pay up to 9.69% of your MAGI for health insurance. The ObamaCare subsidy will pay the amount of premium that's over 9.69% of your income.

1.) 9.69% of your $35,000 Modified Adjusted Gross Income is $3,391 per year, which is $283 a month.

2.) If the Silver Health Insurance Premium for you is $527 a month, the U.S. Treasury will send your health insurance company $244 every month, and you will send your health insurance company $283 every month. You will have a $5,700 annual deductible/Out-of-Pocket.

As you can see from chart #2, the less money you earn, the smaller the percentage of your income is spent on health insurance. The more the government $$$ subsidy will be on your behalf.

When under 251% of FPL, your deductible is reduced (in stages) as well. It's a $0 deductible, if you're just above the Medicaid limit in your state of residence.

The real pain in butt for middle/upper-middle income Americans who earn over 300% of Federal Poverty Level. They get very little, or no assistance at all, in paying their horrendously expensive ObamaCare premiums.

The callous Democrats in Congress felt (in 2009) that individuals and families over 300% of FPL are doing just fine, and don't need help. (But they give themselves a monthly subsidy, even though they make +$175,000!)

FYI.. The Republican Repeal-Replace bills limited the subsidies to those who earn UNDER 301% of FPL. At 300%, you're expected to pay 16% of your income. (No kidding!)

ATS Members, what do you think is a FAIR monthly premium for a $5,700 out-of-pocket limit on medical expenses each year?

-CareWeMust

Health care is a right according to the Bernie bots, a magic fairy will cover the bill. We see how good it worked in Vermont. I just want my old doctor back!

a reply to: carewemust

fair is not forcing someone to buy insurance or be penalized.
before obumacare no where in the Constitution does it say that the federal government can force a person to purchase any thing from a corporation or company.

a reply to: WUNK22

The problem is that the costs are going to continue to increase. We are and were (before ACA) in deep trouble.

There are examples from all over the world that do medical cheaper and better, but they are being ignored.

The hospitals charges are going to increase, there for the cost of insurance is going to increase. There is no mechanism to keep costs down. The evidence that costs can be contained is evident in other industrialized countries.

originally posted by: WUNK22
Health care is a right according to the Bernie bots, a magic fairy will cover the bill. We see how good it worked in Vermont. I just want my old doctor back!

So, its your choice to be uninsured or not, I will say the same thing I did last week on another thread. Many of the people who are uninsured, say, that's BS, I am healthy, I don't need insurance. Last week I was at the oncologist with my mother, who is almost 80, but low and behold in the waiting room were 2 early 30 somethings clearly being treated for cancer. I say to those who say they are "healthy" I bet a year or so ago the two early thirty somethings thought they were healthy. I wonder how much all of their treatments cost, WEEKLY? I would assume these "healthy" people who choose not to be insured, must have an awful lot of money put aside in case something like this happens to them. Otherwise who do you think will pay for your treatments???

Another point I would like to make to the "healthy", what about an accident? They don't call accidents, accidents, because you do them on purpose. "aw man, he had an 'on purpose', fell of the ladder and broke his back and neck". Do they??? No I did not think so....So when the people who choose to be uninsured have and Accident, the only thing on purpose, is them choosing to not have insurance.


Unless, said person, literally could not afford the insurance, there is not an excuse. I do realize that this is the case with some families/individuals. Those who just choose not to, when you have an "accident" or get cancer or just really sick, remember, most of you had a choice.

a reply to: carewemust

That's the problem with healthcare in the United States.......it's just not really affordable. That we have to talk Subsidy tells you everything your need to know. The deductible is what kills the ACA....on top of paying 10 to 16% in premiums you also get to pay an additional 5 to $6,000 if you really get sick. It's such an honor to do that. Healthcare in America should not have to bankrupt you should you have a major health issue to the point of consuming 20%+ of your yearly income. I think ALL Americans can agree on that.

a reply to: WUNK22

There is no way it can work in one state, not enough market share to push/negotiate.

The whole country will have to have a system to work to get prices in line with other industrialized countries. I wish I could say that hospitals are going to start to reduce charges, but that is not going to happen. That means insurance can't go down.

If other countries can do it, so can the US.

Do you think it was a mistake that bush left negotiations out of the medicare prescription drug coverage? It is a cash cow that is lobbied for. In fact medical is the #1 lobbied measured by real dollars.

originally posted by: WUNK22
Health care is a right according to the Bernie bots, a magic fairy will cover the bill. We see how good it worked in Vermont. I just want my old doctor back!

Assuming ObamaCare is here to stay, the best chance for getting your doctor back is for Congress to send health insurance companies lots of taxpayer money. Estimates I'm seeing range from $150 to $200 Billion in 2018 alone.

a reply to: pavil

I think ALL Americans can agree on that.

You would be surprised.

The media has done it's job to tell the US population that we have the best health system in the world-we are #37.
And the media leaves out the fact that we pay the most money by far for an inferior system.

Marriage fell apart.
Ex makes $150,000 plus benefits including car and insurance expenses.
I make $17,000 (clear much less).

We paid off her student loans and let mine go into default planning on settling when we built up about $25K which was feasible.
We broke up.
I owe student loans.
I'm too poor To pay for health insurance without being homeless. Unqualified for Medicaid due owing student loans.
If I were to have any major health problem...it would be reflected on all of your bills.
Sorry for what my bankruptcy does for your premiums when I finally need care since I have no access to simple preventative care for cheap thanks to health insurance providers.

a reply to: the owlbear

And you would have to use the e-room. Hope you don't need meds, cause you are going to have to steal them.

originally posted by: hounddoghowlie
a reply to: carewemust

fair is not forcing someone to buy insurance or be penalized.
before obumacare no where in the Constitution does it say that the federal government can force a person to purchase any thing from a corporation or company.

So if you don't want to pay for coverage......can we just not have you use any medical services you won't pay for in cash up front? Each one of my wife's chemo treatments cost $16,000 a pop. That will be cash please........... We have to cover everyone in a way that controls costs.....the current hospital/medical insurance system we have hasn't ever controlled ever rising costs. No one said it be easy and neither Party has the complete answer.

Good question. Let's compare it with Canada. (data gleaned from a few big sites)

Limit the data diving to what a Canadian household pays per month on average.

The Canada Health Act does not cover prescription drugs, home care or long-term care, prescription glasses or dental care, which means most Canadians pay out-of-pocket for these services or rely on private insurance

The average Canadian household spends $2000 on health care costs and $4000 on private insurance premiums. This is about $500 per month, average, for a family of four.

Of course there is a lot of leeway here, the quality of the health care and reliable data for individuals and the very wealthy are not included here.

The real biggy here is that working or not, everyone is covered.

a reply to: charlyv

Sources?

originally posted by: hounddoghowlie
a reply to: carewemust

fair is not forcing someone to buy insurance or be penalized.
before obumacare no where in the Constitution does it say that the federal government can force a person to purchase any thing from a corporation or company.

Last week, Republicans were thinking about simply eliminating the Individual Mandate...the requirement that people buy health insurance or pay a penalty-tax. But I think the health insurance lobby squashed that thought in less than 24 hours.

President Trump's HHS Secretary (Tom Price) could do it, but that would cause even higher premiums from the health insurance companies who remain in the ObamaCare market.

Almost every facet of ObamaCare depends on some other facet of ObamaCare. The entire program is very unstable, because it was designed to fail.

a reply to: pavil

what does that have to do with forcing me to buy insurance or lose my refund, and owe a couple hundred more.
before obumacare i paid for my own no one else paid one cent of it.

i have no problem helping those that can't help themselves, if asked or i see a need. but to force me to foot part of the bill for someone else is not freedom.

besides i might not like you.😈😈😈

a reply to: seasonal


If it wasn't for our government leadership working out a devil's arrangement between themselves, the insurance industry, and the medical/pharmaceutical industry, costs would come down. WAY DOWN.

originally posted by: the owlbear
Marriage fell apart.
Ex makes $150,000 plus benefits including car and insurance expenses.
I make $17,000 (clear much less).

We paid off her student loans and let mine go into default planning on settling when we built up about $25K which was feasible.
We broke up.
I owe student loans.
I'm too poor To pay for health insurance without being homeless. Unqualified for Medicaid due owing student loans.
If I were to have any major health problem...it would be reflected on all of your bills.
Sorry for what my bankruptcy does for your premiums when I finally need care since I have no access to simple preventative care for cheap thanks to health insurance providers.

You fall into the "cant afford it" Your case sucks. This is a case that is just unfair, and I do realize there are quite a few like that!!! Homeless, or insurance? kind of a no brainer.

a reply to: seasonal

We don't agree on much here on ATS but I seriously doubt anyone loves paying 15% of their income for healthcare. People that are self employed get hit the worst. People who get coverage via their work have no concept of how much coverage actually costs.

The ACA was a stab at fixing healthcare, it wasn't successful for everyone and costs still climb unreasonably. Both parties need to give up their egos and work together to come up with the best package available for everyone. If they don't, then the Dems eventually will regain power and spend all their time dismantling the Republican plan and w will never get any closer.

a reply to: seasonal

Here are a few I was browsing....

WP
Monster CA
Google generic questions