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I am 62 next month, no insurance since 2012 with a job at that time . Only contract work since then. I am in a state with no expanded Medicaid and did not qualify for ACA due to low income. I just got let go from my health care contract job today because they have no clients for me. I filed for early SS and get it in March/April pay out. I have a 3 year wait for Medicare, if it still exists by then.
I do not have a chronic health condition nor do I take meds, but I use a nurse practitioner at Kroger, CVS, or Walgreens if I need antibiotics, etc. and I have used the ER and paid via a pament plan afterward. If I had a catastrophic condition I could get temporary Medicaid to help cover expenses. There is also the option for a public health clinic or a concierge private physician as well.
I probably haven't helped you much here but I am certainly empathetic to your situation.
Last edited by HappyDogToday; 01-24-2017 at 05:53 PM..
If you are concerned about the ACA going away without an equivalent replacement, call or email your representative and senators to express your concern. They respond to their constituents. They especially respond when the email and phone systems crash due to overload.
I can understand the worry but it is possible your costs won't change too drastically.
Most of GOP replacement proposals have tax credits to offset costs of premiums that are based on age or a combination of age/income (as opposed to just income with ACA), and at age 61 you'll surely be in the tier with the most advantageous tax credits. For example under Senator Hatch's plan back in 2014 an individual your age would receive tax credits of $4,690 annually. Another upside (financially) is mandate will likely change where insurance plans won't be required to have things like prenatal care that you don't need so there might be plans with lower premiums that suit your needs.
The biggest downside for you is that the proposals widen the band on how much more insurers can charge for age, it is currently 3x but GOP proposals are 5x or 6x. Whether that is offset by age based tax credits and cheaper plans remains to be seen since final numbers are still unknown.
Not change drastically? Think that one through a tad.
Let's see, the cheapest Bronze plan offered us this year was $1275. If that is 3x base, then base is $425. 6x that base would be $2520. A month. Per year that is $30240. Subtract a $4690 tax credit and that is $25,550 a year. Even a $10,000 tax credit would be $20,000 a year in insurance.
Not that it matters, because we would likely be forced back on to the state high risk pool as it is not possible to guarantee both inexpensive insurance AND preexisting coverage without coverage limits.
The subset of people on the ACA that I belong to - private individuals over 55 with preexisting conditions - is going to get completely steamrollered over this.
Your calculations are based on a plan that meets all the requirements of coverage for ACA, including maternity and pediatric. New plans that don't offer services people don't need might be cheaper. Also = base multiple changes, someone 55 years old is 2.23.
I can understand the worry but it is possible your costs won't change too drastically.
Most of GOP replacement proposals have tax credits to offset costs of premiums that are based on age or a combination of age/income (as opposed to just income with ACA), and at age 61 you'll surely be in the tier with the most advantageous tax credits. For example under Senator Hatch's plan back in 2014 an individual your age would receive tax credits of $4,690 annually. Another upside (financially) is mandate will likely change where insurance plans won't be required to have things like prenatal care that you don't need so there might be plans with lower premiums that suit your needs.
The biggest downside for you is that the proposals widen the band on how much more insurers can charge for age, it is currently 3x but GOP proposals are 5x or 6x. Whether that is offset by age based tax credits and cheaper plans remains to be seen since final numbers are still unknown.
$4,690 won't mean much with a premium of $15,000 or $20,000. My guess is a lot of people will be uninsured or doing what my friend did- she got a part time job at Starbuck's at 62 so she could get cheap health insurance, she said they pay 70% of the premium.
Apply for disability and medicaid. At least you will be protected and you won't have to take SS at 62. It is not your fault they changed the rules. Do what's best for you!
My ex pays $400 a month when he didn't have a good job because no one would give him a good job that being said, he still makes a HUGE (couldn't help it!) when he works. I pay from $120 back down to $57 a month. I make $17000 And that is a living wage for me. OK with me. I am still living with a roof, food, car, insurance and that's it. When Obamacare is gutted...well I will lose my leverage with the money I have saved.
Other than Oregon, what states have high risk pools?
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