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> Was paying under $700 for the two of us. What did this buy, though? That premium sounds like either a "health sharing ministry" or some kind of barebones ca

> Was paying under $700 for the two of us. What did this buy, though? That premium sounds like either a "health sharing ministry" or some kind of barebones catastrophic plan. Both are smart options if a person has good income and a financial cushion, but they're a much lesser coverage than what most big employers would provide. > if 1099 is ~25% more than W-2, odds are pretty good you can do better on your own I've used a wider margin as a rule of thumb when considering it in the past. I'll have to rerun numbers based on my current income and benefits. > especially if you take advantage of the solo 401(k) to reduce your tax load. That secret $54k deduction... probably the biggest benefit for anyone who is moderately high-income and retirement-minded.

lotsofpulp 5y ago
They are probably young without kids. A silver level high deductible health plan in a high cost of living state is about $400 per person for early 30 year olds. You can assume health insurance costs $350 per person, plus or minus 10%, in healthy years. Then you have to multiply by age rating factors. So a family of 4 with parents around 40 will be ~$1,500 per month for a silver HDHP. This pdf is a good rubric: https://www.nj.gov/dobi/division_insurance/ihcseh/ihcrates2021.pdf https://www.nj.gov/dobi/division_insurance/ihcseh/ihcrates20...
neogodless 5y ago
As I said, it was a good plan. I don't remember exact numbers, but low deductible (maybe $2000), low co-pays, lots of things covered such as (some) fertility, mental health, etc. We were 39/34 at the time. It was not a health share ministry or barebones catastrophic. It was something like Blue Cross Silver, though I don't remember the exact name (and the name would reveal more about my location than I probably should share.) My comparison was to a plan with a previous employer that cost me $400/month (my portion) and was worse. So paying "$300 more" for a better plan also took a lot of the sting out of it.

lotsofpulp 5y ago

They are probably young without kids. A silver level high deductible health plan in a high cost of living state is about $400 per person for early 30 year olds. You can assume health insurance costs $350 per person, plus or minus 10%, in healthy years. Then you have to multiply by age rating factors. So a family of 4 with parents around 40 will be ~$1,500 per month for a silver HDHP. This pdf is a good rubric: https://www.nj.gov/dobi/division_insurance/ihcseh/ihcrates2021.pdf https://www.nj.gov/dobi/division_insurance/ihcseh/ihcrates20...

neogodless 5y ago

As I said, it was a good plan. I don't remember exact numbers, but low deductible (maybe $2000), low co-pays, lots of things covered such as (some) fertility, mental health, etc. We were 39/34 at the time. It was not a health share ministry or barebones catastrophic. It was something like Blue Cross Silver, though I don't remember the exact name (and the name would reveal more about my location than I probably should share.) My comparison was to a plan with a previous employer that cost me $400/month (my portion) and was worse. So paying "$300 more" for a better plan also took a lot of the sting out of it.