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But as I understand it, the fines really aren't that substantial, and it would be far cheaper to go ahead and pay the fine for not having health insurance. $2,085/year sounds a lot better than around $9,000!
Please, tell me if I'm crazy! But that's how I understand it. I'm just trying to do research ahead of the looming storm coming, and do what's best for my family.
The fine is only $600 next year and creeps up from there, but can't exceed 2.5% of your income.
Thanks, but absolutely not gonna happen! And why would it make more financial sense?
You said you make $40k.
You telling me that her current salary +900/month (($10800) is LESS than $40k?
Plus good insurance (that tend to be GROUP plans) is expensive...you have 2 babies...you would be crazy to not have insurance with all the checkups and all the other crap they might need.
Hell, my son needed abdominal surgery when he was only 3 weeks old.
Thanks, but absolutely not gonna happen! And why would it make more financial sense?
Well, you said she works for the "district" - so I'm assuming she's a teacher. As such, I'm sure she makes more that what you claim you do (40K). Plus it also seems that if she continues working your family will have health care provided by her job - something you job seemingly does not provide.
Given that, I agree that it seems to make much more financial sense for her to return to work and you to stay at home.
Just an FYI. People think that just because the insurance company can not turn you down if you have a pre-existing condition that is not telling the entire story. We retired early and when looking for insurance the contract reads that if you have a pre-existing condition then you are responsible for paying all medical bills for the first year. In other words you pay the premiums but they will not pay the medical bills for the first year.
There is a way for insurance companies to get around everything you know.
Big mistake to not have health Ins. It can only take 1 illness to destroy your financial status. 1 trip to a hospital could cost you more then the yearly premium. Think of the future when those twins have a health issue.
Big mistake to not have health Ins. It can only take 1 illness to destroy your financial status. 1 trip to a hospital could cost you more then the yearly premium. Think of the future when those twins have a health issue.
I understand that. But with the implementation of the new health care law, I would still be able to buy insurance practically at the hospital if we ever had to go! That was one of the provisions that made it into the law. So, with that logic and a measly $600 fine next year, why would I ever buy health insurance?
Trust me, I know that seems to fly in the face of logic and common sense, which is primarily why I'm coming to this board to test it!
Well, you said she works for the "district" - so I'm assuming she's a teacher. As such, I'm sure she makes more that what you claim you do (40K). Plus it also seems that if she continues working your family will have health care provided by her job - something you job seemingly does not provide.
Given that, I agree that it seems to make much more financial sense for her to return to work and you to stay at home.
Ah, my mistake! Yes, we are both teachers in the same district. I make around $40K + health insurance, she around $26K + health insurance. Hope that helps.
You both need to be working. At $40 K , you can't afford to not have both parents working to support twins. That is double the costs, double the medical bills and double the expenses.
I understand that. But with the implementation of the new health care law, I would still be able to buy insurance practically at the hospital if we ever had to go! That was one of the provisions that made it into the law. So, with that logic and a measly $600 fine next year, why would I ever buy health insurance?
Trust me, I know that seems to fly in the face of logic and common sense, which is primarily why I'm coming to this board to test it!
This is not true. Individual plans will have an open enrollment period each year much like employer plans do now. If you do not buy during the open enrollment period you will not be able to get insurance until the next open enrollment comes around. You could accrue as much as a year of medical expenses before being eligible.
In 2013, the year of the first open enrollment period, consumers can begin enrolling in new health plans on October 1, 2013. This enrollment period will extend through February 28, 2014 and applies to employer provided health insurance as well as individually purchased health coverage. Coverage for plans enrolled in before December 31, 2013 should begin on January 1, 2014. For those enrolling in January or February of 2014, expectations are that coverage will begin the month following enrollment.
After this initial open enrollment period expires, all subsequent open enrollment periods will begin on October 15th and end December 7th. Coverage for enrollments performed during this time will begin on January 1st of the following calendar year.
Last edited by Ponderosa; 05-20-2013 at 11:02 AM..
You both need to be working. At $40 K , you can't afford to not have both parents working to support twins. That is double the costs, double the medical bills and double the expenses.
With all due respect, I don't agree. There are plenty of non-monetary costs that must be borne if both of parents work; that additional $26K that she might have made working certainly doesn't come free or cheap. Our tax rates are also much lower if she stays home. Plus, my wife gets the privilege of being able to do many things with our children during the day. We are in a low-cost area where $40K can go a long way; it's all what one chooses to prioritize re. wants and needs.
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