Health Insurance

[CryBoy]

I am thinking of cancelling health insurance for me and my two daughters (5 & 8). Open enrollment deadline is tomorrow. I don't see the justification in paying $400/month or $4800/year. We don't even need the yearly checkup. Can someone, maybe The Boys, convince me to keep our current crappy bottom tier insurance.

A co-worker reminded me that there is no more pre-existing condition. Should one of us come down with a serious illness, we can wait for open enrollment and sign back on???

I am seriously thinking of dumping the health insurance and pay the fine.

 

[SixFive]

I am thinking of cancelling health insurance for me and my two daughters (5 & 8). Open enrollment deadline is tomorrow. I don't see the justification in paying $400/month or $4800/year. We don't even need the yearly checkup. Can someone, maybe The Boys, convince me to keep our current crappy bottom tier insurance.

A co-worker reminded me that there is no more pre-existing condition. Should one of us come down with a serious illness, we can wait for open enrollment and sign back on???

I am seriously thinking of dumping the health insurance and pay the fine.

Someone correct me please if I'm wrong.

Cry boy, if you earn money and file taxes and can not show proof that you were insured, you will be penalized at tax time. If you have Obama care and you get assistance and your income surpassed the levels where you should have had assistance, you have to pay it back.

This is very simplified, but it's my understanding.

If you have income, and you can not prove you were insured, then you will owe your premiums or some sort of penalty when you file. This of course doesn't apply to those who do not work.

 

[PAChicky]

We thought of doing the same thing since we have a high deductible insurance plan. We decided not to.

Do you know a ride in a Life Flight Helicopter is $21,000? Ambulance ride for two blocks is $1200. Three days in pediatric intensive care is....$$$???? We didn't pay a DIME.

We have contemplated many times cancelling it but then thought it would be best not to especially in our line of work. God forbid something falls off a car and severely wounds one of us. The medical bills alone without insurance would shut us down. Plus then penalties on top of it for not having insurance.

It's one of those things where you have to weigh it out but with two small kids.....broken arms, accidents, etc. I never thought I'd see the day that one of my kids would have taken a ride in Life Flight.

 

[BobbyBlueChip]

We don't even need the yearly checkup.

They do.

Get the bronze plan. If it's not affordable for you, there's tax credits available.