I Need Insurance...

I am turning 26 next month, so I will no longer be covered under my parents health insurance and will need to find my own. I've been paying half of the coverage for my mom and I, which ends up at around $110/month. I work in a small body shop which is exempt from the requirement to provide Healthcare coverage to employees, so I am on my own here.

I didn't know what else to do so I signed up on the infamous Healthcare.gov and started looking.

Obviously there are different "levels" of coverage, from bronze to gold, with a few options for each. I don't know if it's only NC or what, but all the options are provided by BCBS... so much for choices.

Anyway, it tells me I will get a $300/month federal subsidy. If I remember correctly, I will have to pay the full amount each month and will be reimbursed on my federal taxes, correct?

Even the cheapest option, which I wouldn't really call insurance, costs exactly $300/month, and covers absolutely nothing until you rack up $7000 in medical expenses. Go figure.

The only options I can afford that do more than charge $300 a month for absolutely nothing have no coverage for eye exams or anything, which is important to me but looks like I'll be paying for all that out of pocket from now on.... frustrating to say the least, but I won't be able to afford better coverage and still pay my other bills, and even going with the cheapest option that will be tight with no more than I make in a month. One option is a little cheaper but has a bunch of crap about tiers when it comes to out of pocket costs for prescriptions and such which isn't explained anywhere. The slightly more expensive one is about the same but without tiers.

I'm about to pull my hair out here...

see if you can get an HSA privately

I have been out of the business for years, but that is what I used to recommend for people your age

I think the "subsidies" pay the premiums directly to the insurance company.

You will have to pay the co-pays and deductibles.

Read the info they give you very carefully.

Yah, it sucks. Count on paying exorbitant fees if you want to be fully 'covered'.

You buy life insurance you're betting you'll die, the insurance company is betting you'll live.

You hope he wins.

originally posted by: xuenchen
I think the "subsidies" pay the premiums directly to the insurance company.

You will have to pay the co-pays and deductibles.

Read the info they give you very carefully.

I really, really have no idea how this works. And the "info" they're giving isn't enough as it is, at least not while I'm looking at the info about the plans. I'm sure once I start to choose one I'll have to sign my soul over to the devil for coverage.

Welcome to Obamacare! And remember: If you don't buy the insurance, you will be penalized by the IRS. Congratulations on becoming a totally emancipated adult.

originally posted by: syrinx high priest
see if you can get an HSA privately

I have been out of the business for years, but that is what I used to recommend for people your age

I'll look into it, but I didn't even know what that was, I had to google it...

originally posted by: schuyler
Welcome to Obamacare! And remember: If you don't buy the insurance, you will be penalized by the IRS. Congratulations on becoming a totally emancipated adult.

Yeah. Woo. Fun.

I already get my state income tax intercepted by the "Adminstrative Office of the Courts" for when I couldn't afford a lawyer back when I was 19.

originally posted by: intrptr

Yah, it sucks. Count on paying exorbitant fees if you want to be fully 'covered'.

I don't believe there's such a thing as 'fully covered'.

originally posted by: Aldakoopa

originally posted by: intrptr

Yah, it sucks. Count on paying exorbitant fees if you want to be fully 'covered'.

I don't believe there's such a thing as 'fully covered'.

Me neither. They'd like you to think its money well spent.

Insurance doesn't actually prevent anything, just mops up… some.

a reply to: Aldakoopa

When you are paying those premiums remember, we have the best healthcare in the world. Oops, we are 31st right behind Canada (stupid terrible socialized medicine). But Columbia is 22 on the list. en.wikipedia.org...

Seems like the medical industry is a bubble, and like all bubbles it will pop (and kill a lot of people).

Remember the politicians really tried hard to get this right. They all lied to us, they don't care about you. They care about the corporations, cause they give them all that sweet, sweet money. And when the politician gets done "leading" they can get a job on a corporate board. Both the Repubs and the Dems suck hard, they both came up with this goat screw with all the debating and special commissions, and the dems were the only ones dumb enough to vote for it.

In short welcome to adulthood at 26, get ready here it comes. Ask for a raise too.

originally posted by: Aldakoopa

originally posted by: syrinx high priest
see if you can get an HSA privately

I have been out of the business for years, but that is what I used to recommend for people your age

I'll look into it, but I didn't even know what that was, I had to google it...

health savings account. if you can get lucky and stay healthy the first year, you can build up an account to offset the out of pocket costs and hopefully keep pace in coming years

I don't even know if its offered anymore to individuals

what state do you live in ? North Carolina ?

this may be dated, but it looks promising

HSA

Come on down to Canada friend! Great place if you don't mind the cold and like fishing.
Free Heath care to boot! Well we get taxed to hell but you will get use to it.

a reply to: Aldakoopa

originally posted by: intrptr

Yah, it sucks. Count on paying exorbitant fees if you want to be fully 'covered'.

You buy life insurance you're betting you'll die, the insurance company is betting you'll live.

You hope he wins.

And don't forget they are in cahoots with the ones who put poisons in Your food and water, that way when someone gets some weird cancer they don't have to cover You or if they do cover You, the co-pay for the exorbitant drugs will suck Your savings.

The automakers had their turn at "The Trough" in 2008. Then the banksters and money lenders had their turn in 2012. Then they put former Insurance Cabal members in charge of the "Affordable Care" and guess who makes the $$$?? The Insurance cabal and their brothers-in-arms, BigPHarma™. The problem will now be that this is the erection season so now ALL of them will get another turn due to election promises. Just about every American family is 1 medical emergency away from bankruptcy, even with insurance.

I remember when I was prescribed 7 Rx meds. That was in 2004 right before "Affordable Healthcare" I had an epiphany and found 'Ayurveda' and got Myself in great physical shape. When I was taking all those meds I had a $20.00 co-pay. Now I'm on just 2 meds and they now deduct $1207.00/month from My police retirement for "Affordable Healthcare", so even though I'll now 'live' longer they're still taking My $$$.

They are trying to make "Haves" out of "Have Nots" and they are using the middle's $$$, luckily I don't give a snip about $$$ or I'd get pissed...

Stay hydrated and keep "them" off Your back...

originally posted by: Athetos
Come on down to Canada friend! Great place if you don't mind the cold and like fishing.
Free Heath care to boot! Well we get taxed to hell but you will get use to it.

a reply to: Aldakoopa

I can't do cold. I'm happy about 75-90F. Anything below that and I turn purple with orange spots. True story. Back in high school we had to wait outside until the first bell rang, then we could all go inside. My friends would all make me roll up a sleeve in the winter so they could see it. My feet somehow get colder than ambient temperature, yet they still sweat. I think I'd die in Canadia.

a reply to: Aldakoopa

If your healthy for the most part you're better off waiting to see what happens after the election. I can tell you from experience that the current system is a nightmare. Been waiting months for a relative simple procedure...

As you've already found out, it's a total crock of sh*t. I'm covered by Medicare, which doesn't cover dependents (my kids). You can't buy insurance directly from the companies, you HAVE to go through Obamacare exchange. They gave me the same load they gave you...over $200 per month for 2 healthy kids. (I'm $200 above the poverty cut off, and that $200 would put me below it). And it's the same great 'coverage' you describe- a $12,000 deductible. So, I'd be paying $200 per month PLUS out of pocket for everything until I reach the $12,000 point.

Here's the only good news: if you qualify for the subsidy to help you pay for it I THINK they pay it monthly. Meaning, you don't have to pay it all year then get paid back when you file your taxes. You would just pay monthly for your share. It's so impossible to know for sure, I only got this much information via multiple phone calls, speaking with supervisors and having a case worker trying to help me interpret their BS (I am on disability for anxiety disorder and this crap seriously puts me into full on anxiety attack mode).

I ended up NOT insuring my children and just paying out of pocket. The only time it's backfired was when I had to take my daughter to the ER for a mystery respiratory illness. Blood work, X ray and 3 breathing treatments = $10,000. That was 2 years ago, I JUST paid it off this month. (yay)

You just have to do the math and see what's cost effective for you. Call them back and double check about the subsidy (make sure I'm right that THEY pay their share monthly, not a reimbursement situation). Warning: you will get different answers depending on who you talk to. Pull the "I want to speak to a supervisor" thing and MAYBE you'll get legit info.

Obamacare! F**K yeah!

a reply to: syrinx high priest

A health savings account is a lot more logical than Obamacare 'coverage'. OP's main problem is going to be the penalty he gets if he chooses not to be insured. And a health savings account could probably be used for vision and dental as well.

In my case, it's my kids that aren't insured and I guess the IRS hasn't figured out that they should fine me. Shhh...don't tell them.

a reply to: ladyvalkyrie

you don't qualify for CHIPS? I believe you live in Texas, but I'm not sure. If so, this would be the website I believe.

www.texaschildrenshealthplan.org...

a reply to: dawnstar

Yeah, I make JUST enough not to qualify. And now I'm about to have a baby, which increases my family member count...but disability gave me a cost of living increase. Which puts me back up JUST enough to not qualify for any help. And the irony is (as in my PP) the cost of the insurance is just enough to put me just back under that line. But of course they look at your gross income, not what it actually is once all that's taken out.

Ug. Whatever. My kids are healthy. I just pay out of pocket for well visits and vaccines. And even the delayed vaccine schedule is no big deal, HHS only charges $10 per jab (better than the $150 through the pediatrician).