Re: FruGal61 at your service
Posted: Fri May 04, 2018 3:48 am
I think I've just become more acculturated to it all. 'Working for the man' has never been part of my vocabulary. Since my first job in high school I was always acutely aware of 'what's in it for me' and I think I assess that pretty accurately.
All the larger companies out there that I have insight into have retooled their health insurance benefits to pretty much follow the ACA scheme because of the punitive treatment the old-fashioned "Cadillac" plans receive. The only benefit to continuing to work with my employer is that out on the market I'd have to pay 100% of the premiums (less subsidies if any) versus something like 30% while employed. Overall the cost is extremely similar to qualified exchange plans. To me the most important number in a health insurance plan is out-of-pocket max. I found that in the state I am looking at for retirement, the premium + deductible costs added together was extremely similar across the various levels of plans. I don't know if that was a coincidence for that time and state, or if that's how they work everywhere. But it implies that for an individual without subsidies with the higher level plans they are basically prepaying part of the deductible via increased premiums. So at least while my health holds out I'll probably go with the Bronze plans and have a contingency in my spending plan for spending up to the OOP max in the (hopefully unlikely) event it happens.
Working, the amount of my health insurance paid for by my employer is ~$6K iirc. Not enough to keep me working just for that bene. I tend to agree with your last paragraph, though I don't feel bad about it, it's just me being me. Consumption for the sake of consumption is what makes me feel bad. Luckily, most of my family is lower middle class so there isn't much extravagance to keep up with. My wealthiest relative is the biggest 'cheapskate' of us all. The longer I stick to modest-expense activities, the more I find myself in a circle friends (albeit a small one) content with the same.
All the larger companies out there that I have insight into have retooled their health insurance benefits to pretty much follow the ACA scheme because of the punitive treatment the old-fashioned "Cadillac" plans receive. The only benefit to continuing to work with my employer is that out on the market I'd have to pay 100% of the premiums (less subsidies if any) versus something like 30% while employed. Overall the cost is extremely similar to qualified exchange plans. To me the most important number in a health insurance plan is out-of-pocket max. I found that in the state I am looking at for retirement, the premium + deductible costs added together was extremely similar across the various levels of plans. I don't know if that was a coincidence for that time and state, or if that's how they work everywhere. But it implies that for an individual without subsidies with the higher level plans they are basically prepaying part of the deductible via increased premiums. So at least while my health holds out I'll probably go with the Bronze plans and have a contingency in my spending plan for spending up to the OOP max in the (hopefully unlikely) event it happens.
Working, the amount of my health insurance paid for by my employer is ~$6K iirc. Not enough to keep me working just for that bene. I tend to agree with your last paragraph, though I don't feel bad about it, it's just me being me. Consumption for the sake of consumption is what makes me feel bad. Luckily, most of my family is lower middle class so there isn't much extravagance to keep up with. My wealthiest relative is the biggest 'cheapskate' of us all. The longer I stick to modest-expense activities, the more I find myself in a circle friends (albeit a small one) content with the same.