Medical insurance payments

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Hello, I'm hourly worker and make around 75k per year. My wife has pre-existing medical condition and got insurance for her through ObamaCare (no other plan option for my wife) and I pay around $420 per month for her. I pay another 620 for myself and 2 kids. I'm getting miscellaneous medical bills for another 200 dollars per month average on prescriptions/copay/deductibles etc.  I stopped contributing money to 401 as there is no money left for me after paying medical and house payments. I'm paying around $1250 per month overall for medical. Any suggestions to save money? I've been trying for full time job and no luck so far.

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1000GB said:   Hello, I'm hourly worker and make around 75k per year. My wife has pre-existing medical condition and got insurance for her through ObamaCare (no other plan option for my wife) and I pay around $420 per month for her. I pay another 620 for myself and 2 kids. I'm getting miscellaneous medical bills for another 200 dollars per month average on prescriptions/copay/deductibles etc.  I stopped contributing money to 401 as there is no money left for me after paying medical and house payments. I'm paying around $1250 per month overall for medical. Any suggestions to save money? I've been trying for full time job and no luck so far.
The other side of the equation would be to slash your expenses.  I'm in a similar boat in terms of salary, wife is SAHM, 3 kids, insurance cost is outrageous and I can't get Obamacare subsidies because my plan at work is "affordable"--which means it's affordable if I'm the only person covered, for the whole family it's another $1,200/mo, which isn't even remotely affordable!!

What state do you live in?

Is an Flexible Spending Account or Health Savings Account available to you?

Might  there be co-pay assistance programs for your prescriptions?

Are you using in-network providers, including for blood work etc?

In similar boat, currently without coverage and paying penalty. Don't know what to do, but 20k a year for health care is ridiculous. how do they expect people to survive.

SpeedingLunatic said:   What state do you live in?
  Live in NC. I'm just trying to cut down medial expenses. My medical insurance premiums are more than my total mortgage payment. I think people will start living without medical insurance soon. No hope for middle class working people in this country. 

Your insurance premiums are much higher than typical. Your employer is not paying much. Look for another job?

Does /can your wife work?

Where is the rest of your money going? You should be taking home ~$5k a month. Your health insurance/costs are ~$1250 and your mortgage is less than that. That leaves ~$2500 unaccounted for.

$1250 for Obamacare? You sure? At 75k for a family of 4 you should be getting some rebates.

forbin4040 said:   $1250 for Obamacare? You sure? At 75k for a family of 4 you should be getting some rebates.
  

Hes' not paying $1250 for Obamacare.

His wife is the only one under an exchange plan and she's paying $420 a month.   Thats relatively high for an individual but we don't know if thats a bronze, gold or platinum plan.  If she has preexisting conditions it may make sense to pay more for a low deductible.

OP and his kids are insured under his employer.   Plus they have out of pocket costs on to pof that.

but yeah... actually $1250 for healthcare for 4 people is not really high.  It is pretty much the average.    Most of us don't see that bill because our employers pay 75% of it.

 

Is your wife employed? If not, (And I'm sure I'll get red for this) I would divorce. If the spouse is solo she would qualify for subsidies under the health care reform.

I wish I could tell you another option, but $75k/year doesn't sound like bad pay overall depending on which city/state you live in. Like someone else asked, does your employer have an HSA plan? Judging by your expenses you would easily reach the out of pocket max every year.

justignoredem said:   Is your wife employed? If not, (And I'm sure I'll get red for this) I would divorce. If the spouse is solo she would qualify for subsidies under the health care reform.

I wish I could tell you another option, but $75k/year doesn't sound like bad pay overall depending on which city/state you live in. Like someone else asked, does your employer have an HSA plan? Judging by your expenses you would easily reach the out of pocket max every year.


Agreed.  Divorce and put the wife & kids on medicaid.  

Or, move to New York. You'd qualify for child health plus for your kids @ $45/month each. You'd still be on the hook for yourself & wife.

Check to see if it's cheaper to insure the kids on an exchange plan.

jerosen said:   
forbin4040 said:   $1250 for Obamacare? You sure? At 75k for a family of 4 you should be getting some rebates.
  

Hes' not paying $1250 for Obamacare.

His wife is the only one under an exchange plan and she's paying $420 a month.   Thats relatively high for an individual but we don't know if thats a bronze, gold or platinum plan.  If she has preexisting conditions it may make sense to pay more for a low deductible.

OP and his kids are insured under his employer.   Plus they have out of pocket costs on to pof that.

but yeah... actually $1250 for healthcare for 4 people is not really high.  It is pretty much the average.    Most of us don't see that bill because our employers pay 75% of it.

 


Yeah.  I don't have employer coverage, so I pay about $1600 per month for health care (insurance and co-pays).  2 adults 2 kids.
I am on one of the better obamacare plans but am thinking of changing to cheaper plans this fall. 

(My costs for the same coverage were 30% less before Obamacare kicked me off of my previous plan)

forbin4040 said:   $1250 for Obamacare? You sure? At 75k for a family of 4 you should be getting some rebates.
If you have employer coverage available to your family that is "affordable" -- meaning "A job-based health plan covering only the employee that costs 9.66% or less of the employee's household income" then regardless of what family coverage would cost through the employer, the family is ineligible for Obamacare subsidies.  It's complete BS that middle class working people are the ones penalized so heavily by this "loophole."  Congress refuses to act because the right doesn't want to fix Obamacare, they want to scrap it and the left can't do it alone.  It is CRUSHING those of us who fall into this situation.

raringvt said:   
forbin4040 said:   $1250 for Obamacare? You sure? At 75k for a family of 4 you should be getting some rebates.
If you have employer coverage available to your family that is "affordable" -- meaning "A job-based health plan covering only the employee that costs 9.66% or less of the employee's household income" then regardless of what family coverage would cost through the employer, the family is ineligible for Obamacare subsidies.  It's complete BS that middle class working people are the ones penalized so heavily by this "loophole."  Congress refuses to act because the right doesn't want to fix Obamacare, they want to scrap it and the left can't do it alone.  It is CRUSHING those of us who fall into this situation.

Would it be too drastic for OP to divorce his wife?

BrianGa said:   
raringvt said:   
forbin4040 said:   $1250 for Obamacare? You sure? At 75k for a family of 4 you should be getting some rebates.
If you have employer coverage available to your family that is "affordable" -- meaning "A job-based health plan covering only the employee that costs 9.66% or less of the employee's household income" then regardless of what family coverage would cost through the employer, the family is ineligible for Obamacare subsidies.  It's complete BS that middle class working people are the ones penalized so heavily by this "loophole."  Congress refuses to act because the right doesn't want to fix Obamacare, they want to scrap it and the left can't do it alone.  It is CRUSHING those of us who fall into this situation.

Would it be too drastic for OP to divorce his wife?

I determined it too drastic for my wife & I to divorce (among other things, we didn't want our children to grow up seeing marriage as something to be take lightly).  OP will have to make his own judgment call.

$620 a month for you and 2 kids thru employer is very high. You are not spending unnecessary $ on premium PPO plan are you?
I recommend a non-taxed Flexible Spending Account to cover the $2400 related expenses each year. Continue search for that full time job even at lower income maybe more beneficial at the end.
Divorce should be considered. The kids don't need to know. Relocation.

raringvt said:   
Congress refuses to act because the right doesn't want to fix Obamacare, they want to scrap it and the left can't do it alone.  It is CRUSHING those of us who fall into this situation.

  

Well, the left could have done it alone in the first place instead of shoving a crap sandwich down our throats and calling it Affordable Health Care.
But that would have required them wanting to pass something workable.
I'm one of those who believe the whole point was to replace the prior flawed system with something even worse until the voters become desperate enough to get rid of Affordable Health Care that they will accept single payer as the replacement. That opinion is bolstered by the fact that the few Obamacare supporters I knew back in 2010 were all proponents of single payer, but liked ACA as a temporary measure.

taxmantoo said:   
raringvt said:   
Congress refuses to act because the right doesn't want to fix Obamacare, they want to scrap it and the left can't do it alone.  It is CRUSHING those of us who fall into this situation.

  

Well, the left could have done it alone in the first place instead of shoving a crap sandwich down our throats and calling it Affordable Health Care.
But that would have required them wanting to pass something workable.
I'm one of those who believe the whole point was to replace the prior flawed system with something even worse until the voters become desperate enough to get rid of Affordable Health Care that they will accept single payer as the replacement. That opinion is bolstered by the fact that the few Obamacare supporters I knew back in 2010 were all proponents of single payer, but liked ACA as a temporary measure.

  

The same thing was done in the 90s and ACA looks a great deal like what Bob Dole and friends proposed in 1993.

 



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