Hey guys, I work at a small (micro) family business, in the states, and my folks are looking to join an exchange and drop our existing coverage.
It'll save them money, but I've done the math, and I'm basically looking at whether I should just pay the tax (got no problem with taxes) and save $2.1k a year, or go ahead and pay $2.8k for minimum insurance. I'm using numbers assuming that I will pay the maximum income percentage for each year.
Is it worth spending $2.1k every year, if I'm young & healthy, and basically have never actually used the healthcare system outside of dental and an annual checkup? If I never need a doctor in the next three years, and have the same income, I'm looking at saving $6.8K, for age 23.5 - age 26.5. That's assuming premiums don't increase, in which case I could save even more.
Honestly, If my income changes, this will be moot because it probably means my employment situation has changed, meaning I'm making considerably less, have more affordable employer options, or am making enough that $3K for insurance ain't no thing.
How many dudes needed over $6.8K in medical bills during year 23.5-26.5? How many dudes needed over $12.8K in medical bills during year 23.5-30? That's just in premiums, considering insurance only covers percentages of costs.
The way I see it, if I have less income, or grow older, I will get more affordable coverage, as long as they don't remove the existing subsidies.
I could save around $13K +/- by simply waiting till my 30s, when I expect my body to start failing a wee bit more.
I don't smoke, rarely drink. I don't have any weird bones, muscles, or organs. (well I got some extra wisdom teeth) Anyone know the statistics on young responsible adults using healthcare?
I'm not really interested in the politics of this. I just see the concept of health insurance as a bet against an insurance company, and I want to make mine an informed one.
I realize I could be not accounting for something, so I appreciate any info that I'm overlooking, or in general what ya'll think I should do, Thanks for being kind & rad.