Non-Political Market/Economy/Finance/etc. Thread

[wetwillie]

How much does a High Deductible plan run you on the open market right now?

[DaBigTrain]

I'm working again. Quit my old job in 2020 but had an opportunity to work part time with potential high upside. Plus I needed some money lol.

I’m kind of liking the idea of in about 5 years starting to jump to different harebrained schemes that friends of mine will occasionally do, just for some excitement and disposable income.

Sadly, navigating our ridiculous health insurance system (with dependents) would be by far the biggest hurdle with all that.

mrs. dave and I both have very high stress but great gigs. hers has a shitload of opportunity to basically work 1/4 of the time in much less stressful roles with incredible benefits at some point. I've told her I'm retiring at 55 and she just needs to roll into one of those coast positions so we can get those bennys and we will be fine.

This is what I would like to do, but don't really have the benefits figured out yet. We did a buyout recently and it wasn't as good as ones in the past but still decent. It still didn't get much traction because people don't want to lose their health insurance. Its such a rough ridin' scam to have to keep working your whole life just to keep insurance.

I literally can't lose my health insurance. The only way I can pay for my extremely expensive meds is with insurance. I got a statement last month showing all the charges for my meds last year, just over $250,000 before insurance. My meds are indefinite so that's every single year if they keep working. It's just insane, but I need them to live a normal life.

[catastrophe]

How much does a High Deductible plan run you on the open market right now?

The problem is that even some of the pricier plans on the exchange do not cover basic things you would expect. Dental and vision being the biggest, but even then there are all kinds of weird carve outs for even the most expensive plans. Every once in a while when I dream about early retirement I look this up and decide all over again that I'll probably just be a Starbucks barista or Amazon delivery driver for the absolute minimum hours to get decent healthcare.

[CNS]

How much does a High Deductible plan run you on the open market right now?

A guy I know looked into this in October.  He is 60yo and he said his was going to be $990/mo. 

[steve dave]

How much does a High Deductible plan run you on the open market right now?

A guy I know looked into this in October.  He is 60yo and he said his was going to be $990/mo.

I realize that's a lot of money but seems pretty reasonable for a male that age. Obviously don't know the deductible or program info or anything.

[CNS]

How much does a High Deductible plan run you on the open market right now?

A guy I know looked into this in October.  He is 60yo and he said his was going to be $990/mo.

I realize that's a lot of money but seems pretty reasonable for a male that age. Obviously don't know the deductible or program info or anything.

It was a catastrophe plan.  I think he said the deductable was $7k, didn't include vision or dental.

[Spracne]

IMO, vision and dental are overrated. The benefits are capped so low that I don't see the point, although I do have dental insurance.

[star seed 7]

My mom was like $1500/month on the exchange for her and her husband (early 60's).

[wetwillie]

Seems attainable financially for someone already wealthy enough to retire early.  Even working full time your healthcare coverage costs aren't 0.

[KITNfury]

When I was not working, I had a high deductible plan for me and fam for about $500/mo. That had dental and I think maybe vision.

[Justwin]

How much does a High Deductible plan run you on the open market right now?

A guy I know looked into this in October.  He is 60yo and he said his was going to be $990/mo.

I realize that's a lot of money but seems pretty reasonable for a male that age. Obviously don't know the deductible or program info or anything.

It was a catastrophe plan.  I think he said the deductable was $7k, didn't include vision or dental.

A $7000 deductible is not a catastrophic plan. A catastrophic plan would be a minimum of a $25,000 deductible and more like a $50,000 deductible.

[Justwin]

I think I need double the money right now, adjusted for inflation.

So, if I earn 0.03 over inflation for 12 years then (1.03)^12 = 2.022469067498369 times my present value.

1.03^12 = 1.425760886846178945447841 times your PV. If you want need to double your money in 12 years (assuming no further contributions), you need to have a real return of roughly 6% (72/6 = 12).

[CNS]

How much does a High Deductible plan run you on the open market right now?

A guy I know looked into this in October.  He is 60yo and he said his was going to be $990/mo.

I realize that's a lot of money but seems pretty reasonable for a male that age. Obviously don't know the deductible or program info or anything.

It was a catastrophe plan.  I think he said the deductable was $7k, didn't include vision or dental.

A $7000 deductible is not a catastrophic plan. A catastrophic plan would be a minimum of a $25,000 deductible and more like a $50,000 deductible.

To most Americans $7000 is a catastrophe.  I get what you are saying, but it's situational, and probably semantics.   

[catastrophe]

I'm currently paying like $880/month for family health insurance and the family deductible is $4k ($8k out of pocket limit). We hit it every year.

[KITNfury]

If you have a little money, I think high deductible is definitely the way to go. The plans I reviewed would cap my out of pocket at $5-7.5k (or whatever) but pay 100% after that. So cancer or whatever shouldn't bankrupt a mfer, but you'll pay for maintenance you're not used to.

Just don't get screened for cancer 1 month before your insurance needs renewed.

[Stupid Fitz]

If you have a little money, I think high deductible is definitely the way to go. The plans I reviewed would cap my out of pocket at $5-7.5k (or whatever) but pay 100% after that. So cancer or whatever shouldn't bankrupt a mfer, but you'll pay for maintenance you're not used to.

Just don't get screened for cancer 1 month before your insurance needs renewed.

Def something to consider. I used to go to a doctor out in Leawood that was one of those "Doctors for men!!!!" places. It was actually a pretty great place and I could call or chat pretty much whenever and get in right away. I mainly used them for an annual physical. Anyhoo, several years ago, they stopped taking insurance and went to a monthly tiered offering. It depended on your age and other factors, but you basically just paid a monthly fee and could come in whenever you wanted and get basic doctor stuff. They also help you figure out what kind of catastrophic plan you should get to go along with your monthly to them in case you had something bad happen to you. I wouldn't want this type of situation with kids or anything, but would def look into it without.

[CNS]

If you have a little money, I think high deductible is definitely the way to go. The plans I reviewed would cap my out of pocket at $5-7.5k (or whatever) but pay 100% after that. So cancer or whatever shouldn't bankrupt a mfer, but you'll pay for maintenance you're not used to.

Just don't get screened for cancer 1 month before your insurance needs renewed.

Def something to consider. I used to go to a doctor out in Leawood that was one of those "Doctors for men!!!!" places. It was actually a pretty great place and I could call or chat pretty much whenever and get in right away. I mainly used them for an annual physical. Anyhoo, several years ago, they stopped taking insurance and went to a monthly tiered offering. It depended on your age and other factors, but you basically just paid a monthly fee and could come in whenever you wanted and get basic doctor stuff. They also help you figure out what kind of catastrophic plan you should get to go along with your monthly to them in case you had something bad happen to you. I wouldn't want this type of situation with kids or anything, but would def look into it without.

What do those plans run?

[Stupid Fitz]

If you have a little money, I think high deductible is definitely the way to go. The plans I reviewed would cap my out of pocket at $5-7.5k (or whatever) but pay 100% after that. So cancer or whatever shouldn't bankrupt a mfer, but you'll pay for maintenance you're not used to.

Just don't get screened for cancer 1 month before your insurance needs renewed.

Def something to consider. I used to go to a doctor out in Leawood that was one of those "Doctors for men!!!!" places. It was actually a pretty great place and I could call or chat pretty much whenever and get in right away. I mainly used them for an annual physical. Anyhoo, several years ago, they stopped taking insurance and went to a monthly tiered offering. It depended on your age and other factors, but you basically just paid a monthly fee and could come in whenever you wanted and get basic doctor stuff. They also help you figure out what kind of catastrophic plan you should get to go along with your monthly to them in case you had something bad happen to you. I wouldn't want this type of situation with kids or anything, but would def look into it without.

What do those plans run?

Just looked at the place I went and the monthly for age 40-49 is $80. 50-59 is $90. Haven't looked at them in forever, but I think it covers quite a bit. Not positive, but i'm pretty sure they have an X-ray so pretty much any non emergency type thing can be handled there.

[CNS]

If you have a little money, I think high deductible is definitely the way to go. The plans I reviewed would cap my out of pocket at $5-7.5k (or whatever) but pay 100% after that. So cancer or whatever shouldn't bankrupt a mfer, but you'll pay for maintenance you're not used to.

Just don't get screened for cancer 1 month before your insurance needs renewed.

Def something to consider. I used to go to a doctor out in Leawood that was one of those "Doctors for men!!!!" places. It was actually a pretty great place and I could call or chat pretty much whenever and get in right away. I mainly used them for an annual physical. Anyhoo, several years ago, they stopped taking insurance and went to a monthly tiered offering. It depended on your age and other factors, but you basically just paid a monthly fee and could come in whenever you wanted and get basic doctor stuff. They also help you figure out what kind of catastrophic plan you should get to go along with your monthly to them in case you had something bad happen to you. I wouldn't want this type of situation with kids or anything, but would def look into it without.

What do those plans run?

Just looked at the place I went and the monthly for age 40-49 is $80. 50-59 is $90. Haven't looked at them in forever, but I think it covers quite a bit. Not positive, but i'm pretty sure they have an X-ray so pretty much any non emergency type thing can be handled there.

That's a rough ridin' steal!

[Dugout DickStone]

How much does a High Deductible plan run you on the open market right now?

$1683

[Spracne]

If you have a little money, I think high deductible is definitely the way to go. The plans I reviewed would cap my out of pocket at $5-7.5k (or whatever) but pay 100% after that. So cancer or whatever shouldn't bankrupt a mfer, but you'll pay for maintenance you're not used to.

Just don't get screened for cancer 1 month before your insurance needs renewed.

Def something to consider. I used to go to a doctor out in Leawood that was one of those "Doctors for men!!!!" places. It was actually a pretty great place and I could call or chat pretty much whenever and get in right away. I mainly used them for an annual physical. Anyhoo, several years ago, they stopped taking insurance and went to a monthly tiered offering. It depended on your age and other factors, but you basically just paid a monthly fee and could come in whenever you wanted and get basic doctor stuff. They also help you figure out what kind of catastrophic plan you should get to go along with your monthly to them in case you had something bad happen to you. I wouldn't want this type of situation with kids or anything, but would def look into it without.

What do those plans run?

Just looked at the place I went and the monthly for age 40-49 is $80. 50-59 is $90. Haven't looked at them in forever, but I think it covers quite a bit. Not positive, but i'm pretty sure they have an X-ray so pretty much any non emergency type thing can be handled there.

I think you're talking about "concierge medicine." In my experience, you still have to pay for labs and imaging (and the like).

[wetwillie]

How much does a High Deductible plan run you on the open market right now?

$1683

Tell them to increase your premium to 1738

[Stupid Fitz]

If you have a little money, I think high deductible is definitely the way to go. The plans I reviewed would cap my out of pocket at $5-7.5k (or whatever) but pay 100% after that. So cancer or whatever shouldn't bankrupt a mfer, but you'll pay for maintenance you're not used to.

Just don't get screened for cancer 1 month before your insurance needs renewed.

Def something to consider. I used to go to a doctor out in Leawood that was one of those "Doctors for men!!!!" places. It was actually a pretty great place and I could call or chat pretty much whenever and get in right away. I mainly used them for an annual physical. Anyhoo, several years ago, they stopped taking insurance and went to a monthly tiered offering. It depended on your age and other factors, but you basically just paid a monthly fee and could come in whenever you wanted and get basic doctor stuff. They also help you figure out what kind of catastrophic plan you should get to go along with your monthly to them in case you had something bad happen to you. I wouldn't want this type of situation with kids or anything, but would def look into it without.

What do those plans run?

Just looked at the place I went and the monthly for age 40-49 is $80. 50-59 is $90. Haven't looked at them in forever, but I think it covers quite a bit. Not positive, but i'm pretty sure they have an X-ray so pretty much any non emergency type thing can be handled there.

I think you're talking about "concierge medicine." In my experience, you still have to pay for labs and imaging (and the like).

Yep, still might be a decent deal for a healthy person that just needs a minor thing every once in a while. This is what the membership covers apparently.

24/7 access to physician via phone/text and email

Same-day/next day in-office and “virtual” visits during regular office hours

Appointment length determined by patient (up to 60 minutes)

Office surgeries — lacerations, cysts, moles, skin tags, warts, etc.

Diagnostic/Screening Tests — Vision, hearing, spirometry, EKG

Annual Basic Health Assessment

"At Cost" pricing on all blood tests

Member discounts on diagnostic imaging (X-ray, CT scan, ultrasound, MRI)

Full-function online patient portal — a secure direct link to your information

[wetwillie]

Can we get a little political in here and not tell SD about it before he gets back online at 6am Monday morning?

[Dugout DickStone]

If you can be treated over zoom you dont need a doctor