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Myrtle Beach - Conway area Horry County
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Old 06-27-2018, 07:17 AM
 
Location: Upstate NY
49 posts, read 84,515 times
Reputation: 24

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We hope to retire to Horry county next year. I say hope because the biggest affordability concern we have is for medical insurance. He will be 66 then and already on medicare (a local PPO in our current state of NY). I will only be 64 so not yet eligible for medicare. Can someone tell me who the big/popular medical insurance HMO's/PPO's are in Horry county as I would like to contact them now to get a ballpark idea of what medical insurance is going to cost me on my own (single-payer) to see if it's financially affordable for us to retire next year. And does anyone know what monies qualifies as income to health insurance companies when they price up a policy for you? Do they count IRA income, savings, SS et all or just earned income from a job? Any info on this subject would be greatly appreciated. I would think there are other couples in our similar situation age-wise (one eligible for medicare and one not quite) Tks
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Old 06-28-2018, 11:31 AM
 
25 posts, read 59,095 times
Reputation: 48
If you do not have a particular place to get health insurance, like a retirement plan from your workplace, you will probably need to go to healthcare.gov and choose from the Affordable Care Act plans.
https://www.healthcare.gov/see-plans/
Most, if not all Plans, in SC are from BlueCross BlueShield Of South Carolina.
Fill out the information requested to view plans and prices.
The requested income is your AGI, Adjusted Gross Income. It is on line 37 of your 2017 1040.
However, your subsidy will be based on your current year AGI, not last years. So, your subsidy will be adjusted when you file your taxes.
See: How to estimate your expected income
https://www.healthcare.gov/income-an...how-to-report/
If your income is below 4x the Federal Poverty Level you may receive a subsidy.
Federal Poverty Level (FPL)
https://www.healthcare.gov/glossary/...rty-level-fpl/
In addition to subsidies, you may also qualify for Cost Saving Reductions (CSR) if your income is low enough, but not too low, and you also choose a Silver plan.
Since SC does not have expanded Medicaid coverage, your income must be between 138% and 250% of FPL to receive CSR.
Certainly verify above information before deciding what to do.
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