4 ms·

$25k is a bogus number. I know several self employed people. The highest earner is paying $900 a month and the other is paying $800 for 2 people. Another perso

by wil421 7y ago

$25k is a bogus number. I know several self employed people. The highest earner is paying $900 a month and the other is paying $800 for 2 people. Another person I know who is 1099 and makes less than $30k is paying about $75 a month. Personally I paid about $30 per month working part time as a waiter in college making about $20k a year.

lotsofpulp 7y ago
My parents just purchased a silver HSA plan on healthcare.gov for $2,000 or so per month, with a $13k oop max. Here’s the source: https://www.state.nj.us/dobi/division_insurance/ihcseh/ihcrates_2020.pdf https://www.state.nj.us/dobi/division_insurance/ihcseh/ihcra... A young person’s data points about healthcare costs are useless. It’s the 50s and 60s that get you, and when you actually need healthcare.
- wil421 7y ago
  That’s unfortunate for NJ, the $900 person just turned 60 last Friday and the couple paying $800 are 63 and 64. My brother in law is a low income 1099 earner and gets a special insurance for his kid that’s about $30, called PeachCare and it maxes out at $70 for 2 kids. Depending on income it’s $10-$35 dollar max per child.
  - lotsofpulp 7y ago
    $900 per month is $10,800 per year for 1 person, which is $21,600 per year for a couple, and I wrote $25,000. My point is that there are significant healthcare costs, well into the tens of thousands of dollars, in one's 50s and 60s, and the data supports it. I don't know what the situation is if you earn $50k from investments every year, as I'm not familiar with the subsidy rules, but it would seem strange to me if the US government offered subsidies to someone drawing investment income from $3M. Edit: It seems that you can get subsidies even if you are deriving your income from investments, so I guess you are correct that someone earning $50k doesn't pay the full premium price. https://www.irs.gov/affordable-care-act/individuals-and-families/questions-and-answers-on-the-premium-tax-credit#computing https://www.irs.gov/affordable-care-act/individuals-and-fami...
    - wil421 7y ago
      No one making $50k self employed is paying 25k in insurance premiums period. The people I quoted are probably making between $150-200k a year.
cortesoft 7y ago
How old are they? Insurance gets a lot more expensive as you get older.

by wil421 7y ago

lotsofpulp 7y ago

My parents just purchased a silver HSA plan on healthcare.gov for $2,000 or so per month, with a $13k oop max. Here’s the source: https://www.state.nj.us/dobi/division_insurance/ihcseh/ihcrates_2020.pdf https://www.state.nj.us/dobi/division_insurance/ihcseh/ihcra... A young person’s data points about healthcare costs are useless. It’s the 50s and 60s that get you, and when you actually need healthcare.

wil421 7y ago
That’s unfortunate for NJ, the $900 person just turned 60 last Friday and the couple paying $800 are 63 and 64. My brother in law is a low income 1099 earner and gets a special insurance for his kid that’s about $30, called PeachCare and it maxes out at $70 for 2 kids. Depending on income it’s $10-$35 dollar max per child.
- lotsofpulp 7y ago
  $900 per month is $10,800 per year for 1 person, which is $21,600 per year for a couple, and I wrote $25,000. My point is that there are significant healthcare costs, well into the tens of thousands of dollars, in one's 50s and 60s, and the data supports it. I don't know what the situation is if you earn $50k from investments every year, as I'm not familiar with the subsidy rules, but it would seem strange to me if the US government offered subsidies to someone drawing investment income from $3M. Edit: It seems that you can get subsidies even if you are deriving your income from investments, so I guess you are correct that someone earning $50k doesn't pay the full premium price. https://www.irs.gov/affordable-care-act/individuals-and-families/questions-and-answers-on-the-premium-tax-credit#computing https://www.irs.gov/affordable-care-act/individuals-and-fami...
  - wil421 7y ago
    No one making $50k self employed is paying 25k in insurance premiums period. The people I quoted are probably making between $150-200k a year.

cortesoft 7y ago

How old are they? Insurance gets a lot more expensive as you get older.