Arianrhod
Gold Member
- Jul 24, 2015
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Being self employed for about 20 years, I was pretty sure there would be some issues with the Affordable Care Act plans right from the start. The plans offered to the self employed over the years have often had very high deductibles. I remember looking at some family plans with $1500 per month premiums with $5000-$10000 deductibles. They were basically very expensive catastrophic insurance plans. It looked to me like they basically offered many of the plans typically found in the self employed market on the exchange, but adding in the premium subsidies to help on that end. My wife ended up taking a job that offered great health insurance, so we were thankfully able to get out of the individual market.
I don't believe the Obamacare system will last as it is currently put together. The deductibles need to be down under $1000 per year to make people want to buy in. In other words, I believe the cost and deductible set up has to be similar to what an employee at a good company or a state/federal job would be offered, not what the self employed have traditionally been offered.
If I may ask, were you looking at policies on the insurers' sites? Because they'll just quote you their regular rates based on age, number of family members, smoking status, etc. without calculating the subsidy under the PPACA.
Try running your info through the Kaiser widget:
Subsidy Calculator Widget
Then go to your state exchange (if there is one) or healthcare.gov
You may be pleasantly surprised by the difference.