Health insurance -- how much?

[Innisfree]

Dh will be retiring in five-ten years, so his very good, employer-provided health insurance will end. He'll go straight on Medicare. The girls and I, however, will still need coverage, and I will probably need to work to cover the cost. This is causing me concern, given the discussions here and elsewhere about costs. 

The company that covers us now doesn't currently offer any individual coverage, and can't offer even a vague idea of what coverage for an adult and two teens/early twenties might cost. Of course I know (hope!) all this may change significantly in the next few years. But if you were planning for this, how much would you plan on needing to pay? Mental and/or behavioral healthcare is essential.

[Ravin]

This could change drastically in either direction from this year depending on how the politics plays out. 

[Selkie]

We currently pay about $1400/month for me and our three teens. Dh is an additional $800/month.

It is difficult to guess what the cost will be in five-ten years. Dh and I are employers and provide health coverage to our employees, and I absolutely dread seeing how much it goes up each year. The past several years, the increases have been pretty astronomical.

[Innisfree]

1 minute ago, Ravin said:

This could change drastically in either direction from this year depending on how the politics plays out. 

Yes, I know this is true. But-- I still have to make some kind of plan, kwim?

I find the whole situation extremely frustrating and infuriating. I haven't worked since dd16 was born. Probably I should get some sort of training.

If I started now, I could do diagnostic sonography at the local community college, and end up with a good income and likely benefits. But dd13 really needs me to be very closely involved with her schooling still. If she could just go to the local high school, I could go back to school also. But I know that school, and seriously doubt she'd do well there.

If I wait until she's done with high school, I won't be able to do the sonography program in time for dh to retire. He has health issues, so he does need to retire asap.

The place I used to work would hire me again, but they're having financial problems. I don't feel I can just rely on them.

I just want to have a plan in place so I know this is covered. Now I'm whining, lol.

[Bootsie]

I would begin my planning by seeing how much insurance would cost under your husband's employer under COBRA.  That could change in the next 5-10 years, but it would give you a starting point.

I would focus on employment opportunities that provided good health benefits, more than what would be good salary benefits, if I were looking at working for a few years to provide health insurance (rather than setting myself up for a long-term career).

[Innisfree]

Just now, jdahlquist said:

I would begin my planning by seeing how much insurance would cost under your husband's employer under COBRA.  That could change in the next 5-10 years, but it would give you a starting point.

I would focus on employment opportunities that provided good health benefits, more than what would be good salary benefits, if I were looking at working for a few years to provide health insurance (rather than setting myself up for a long-term career).

They will not offer anything. Once he retires, they're done.

Yes, focusing on good benefits sounds like a good plan.

[scholastica]

10 minutes ago, Innisfree said:

They will not offer anything. Once he retires, they're done.

Yes, focusing on good benefits sounds like a good plan.

You will likely be offered COBRA coverage for you and the girls for 18 months. After that, you'll need your own.

From the DOL website:

Q2: What does COBRA do?

COBRA contains provisions giving certain former employees, retirees, spouses former spouses, and dependent children the right to temporary continuation of health coverage at group rates. This coverage, however, is only available when coverage is lost due to certain specific events. Group health coverage for COBRA participants is usually more expensive than health coverage for active employees, since usually the employer pays a part of the premium for active employees while COBRA participants generally pay the entire premium themselves. It is ordinarily less expensive, though, than individual health coverage.

 

You really can't price anything now. The market is so volatile. If COBRA is offered to you, you pay the entire cost of the premium. 

[TX Native]

if feasible, could you start doing part time seasonal work  (like Christmas time?) at a retailer with good benefits, then be more likely to get hired fiull time in 5-10 years?  I think Costco, Aldi's, Publix, and Starbucks have a reputation of offering good benefits (that may have changed in the past years), but just some suggestions.  

Edited August 6, 2018 by TX Native

[Carrie12345]

Well, I currently pay just under 10% of our gross household income through the exchange.  That's basically where they put everyone. (They'll let you pay more!)

But I don't count on that lasting.

[scholastica]

5 minutes ago, Carrie12345 said:

Well, I currently pay just under 10% of our gross household income through the exchange.  That's basically where they put everyone. (They'll let you pay more!)

But I don't count on that lasting.

We didn't qualify for a subsidy and so it was well over that. We do itemize and so got some back at tax time, but still. It was going to be almost double this year, but my dh's employer added a health insurance benefit. We feel we got lucky for now.

[Mergath]

I would plan a minimum of $1k a month, plus copays and at least a $5k deductable. Beyond that though, it's a total crapshoot.

[umsami]

For me and four kids right now.... silver level plan....it's $1600.  My deductible before anything other than well care is covered is ridiculously high.  I assume it will only get worse.

And yet, I feel lucky to have it based on where things are going.  Be wary as some of the newer short-term (up to 3 years I read) plans do not have the well-care guarantees/covered services of the Affordable Care Act.

 

ETA: I joined AARP so that I could get a good Delta Dental plan through them.  I pay $130 or so per month for the five of us.

Edited August 6, 2018 by umsami

[AmandaVT]

We're at $1700 ish a month for the 3 of us. That's a silver level plan on the exchange, so we have a deductible and copays. Dental adds about $200/month to that. No vision coverage. 

[Ethel Mertz]

For DS and me through my retired spouse's pension plan it is $1,700 a month. No deductible. Also covers RX, mental health, dental, and vision.

[Hoggirl]

We’ll be in this situation once dh’s COBRA runs out a little more than a year from now - for several years.  Dh retired.  The coverage we have now is good. Ds will get his own insurance when he starts his job in mid-September.  We are planning on around $20,000-$24,000 per year for just the two of us.  With high deductibles. Just hope we can get coverage at all.  It is hard to know what is going to happen, but the current system seems untenable.  

I tell you what - at this point, I feel like getting that Medicare card is more exciting than acquiring one’s first driver’s license! I’m not really counting on getting that when the times comes either - at least not in the form that it is today. 

Edited August 6, 2018 by Hoggirl

[Innisfree]

Thanks, everyone. For some reason they don't have to offer us anything under COBRA, so I want to plan to be able to handle this. I appreciate hearing what others are paying. 

1 hour ago, umsami said:

ETA: I joined AARP so that I could get a good Delta Dental plan through them.  I pay $130 or so per month for the five of us.

I'm glad to know AARP is an option for dental, thanks!

17 minutes ago, Hoggirl said:

I tell you what - at this point, I feel like getting that Medicare card is more exciting than acquiring one’s first driver’s license! 

Agreed. Fingers crossed that it lasts.

[bolt.]

You don’t have any kind of dual citizenship? American healthcare makes me so sad. Perhaps you could live out of the country for a while?

[scholastica]

And all of this will vary wildly by state. States with a healthier population like WI and MN will have far better rates than MS or MO where the population tends to be overall less healthy.

[Innisfree]

25 minutes ago, bolt. said:

You don’t have any kind of dual citizenship? American healthcare makes me so sad. Perhaps you could live out of the country for a while?

I wish! Not for political or health reasons, really, but this would be lovely just for the experience. No dual citizenship options.

I wish we could all have better healthcare options, too.

Edited August 7, 2018 by Innisfree

[Carrie12345]

3 hours ago, scholastica said:

We didn't qualify for a subsidy and so it was well over that. We do itemize and so got some back at tax time, but still. It was going to be almost double this year, but my dh's employer added a health insurance benefit. We feel we got lucky for now.

The formula is for 9.something% for a family under something like 400% of the federal poverty level by family size. I guess I should have been more specific, but it would apply to the majority o American families. 

[HS Mom in NC]

3 of us (male 51, female 45, 13 year old)
$1500 per month
$13,000 deductible

[DawnM]

If I put my kids on my insurance through work, I would pay an additional $450 total for all 3 of them.  If I add my husband, it would add an additional $300 to that amount.  

Right now, DH has his own and has the 3 kids on his.  We pay roughly $450 (but his insurance is better)

I have my own and pay $10/mo.