Might retire soon and am curious about the ACA

[Boston1]

I haven't signed up yet, been holding off till I sell off my business. Might start another, a coffee shop, but while I'm in that transitional phase I thought I'd take the unemployment opportunity to sign up as indigent ;--)

I have no idea of how the plans work.

Anyone care to explain it ?

 

[Martin Eden Mercury]

Give away most everything you own and maybe then you'll qualify for the glory of public assistance.

 

[Boston1]

Give away most everything you own and maybe then you'll qualify for the glory of public assistance.

Do they make you list assets ?

 

[Grandma]

If you're retiring, you'll go on Medicare.

 

[Boston1]

If you're retiring, you'll go on Medicare.

Yeah, I'm throwing in the towel a bit early for Medicare.

Miles early actually. I just did well in business and I'm not sure I really want to work much longer. Thought I'd try something simple like a coffee shop and go play

Use the interim period opportunity to sign up. Since I can honestly tell them I'm unemployed ;--)

 

[DarkFury]

If you're retiring, you'll go on Medicare.

Yeah, I'm throwing in the towel a bit early for Medicare.

Miles early actually. I just did well in business and I'm not sure I really want to work much longer. Thought I'd try something simple like a coffee shop and go play

Use the interim period opportunity to sign up. Since I can honestly tell them I'm unemployed ;--)

Arizona does not have an age for medicare retirement. You retire here and the STATE auto enrolls you six months later. But you CANNOT work, you can OWN anything. But you can't work.

 

[Boston1]

If you're retiring, you'll go on Medicare.

Yeah, I'm throwing in the towel a bit early for Medicare.

Miles early actually. I just did well in business and I'm not sure I really want to work much longer. Thought I'd try something simple like a coffee shop and go play

Use the interim period opportunity to sign up. Since I can honestly tell them I'm unemployed ;--)

Arizona does not have an age for medicare retirement. You retire here and the STATE auto enrolls you six months later. But you CANNOT work, you can OWN anything. But you can't work.

Interesting. I won't be working, but I will have a business ;--) although I'm not going to be technically "working" there. Just keeping a close eye on the manager. Be interesting to look up what they consider working to be. Thanks

 

[Arianrhod]

I haven't signed up yet, been holding off till I sell off my business. Might start another, a coffee shop, but while I'm in that transitional phase I thought I'd take the unemployment opportunity to sign up as indigent ;--)

I have no idea of how the plans work.

Anyone care to explain it ?

Start here:

Subsidy Calculator Widget

Then go here:

Connect for Health Colorado - Colorado's Health Insurance Marketplace

 

[Sun Devil 92]

If you're retiring, you'll go on Medicare.

Yeah, I'm throwing in the towel a bit early for Medicare.

Miles early actually. I just did well in business and I'm not sure I really want to work much longer. Thought I'd try something simple like a coffee shop and go play

Use the interim period opportunity to sign up. Since I can honestly tell them I'm unemployed ;--)

Arizona does not have an age for medicare retirement. You retire here and the STATE auto enrolls you six months later. But you CANNOT work, you can OWN anything. But you can't work.

Interesting. I won't be working, but I will have a business ;--) although I'm not going to be technically "working" there. Just keeping a close eye on the manager. Be interesting to look up what they consider working to be. Thanks

Well, it's time to collect on that all that money you paid for others.

Best of luck.

 

[C4HCO]

I haven't signed up yet, been holding off till I sell off my business. Might start another, a coffee shop, but while I'm in that transitional phase I thought I'd take the unemployment opportunity to sign up as indigent ;--)

I have no idea of how the plans work.

Anyone care to explain it ?

Boston1, here's a link to the home page for Connect for Health Colorado. There is information there on income guidelines and also how to find someone in your community to assist you. Brokers and Health Coverage Guides do not charge for their services. Connect for Health Colorado - Colorado's Health Insurance Marketplace

 

[RubberGloveSeduction]

Anyone care to explain it ?

We retired early and signed up for health insurance on fed exchange. I found it relatively painless, the area I lived had plenty of plans to choose from. Picked a plan, provider mailed me some stuff, and on 1st of following month my wife and I were insured.

They use your income (MAGI) to determine subsidies and cost sharing, not assets. This is important, if you have 2 million dollars sitting in the bank, sell 80k of stocks which throw of capital gains of 30k then congrats you're poor on paper (income 30k) and get help. If you're within 400% of poverty level (that is about 64k for a couple) you'll be in range. Subsidies are available on all plans but silver plans you can also qualify for cost sharing which can greatly reduce your max out of pocket and deductible.

Our health insurance premiums are affordable and the plan is reasonable. We're in our 40s so mileage may vary as you approach 60+ years but in theory if you are on subsidies it should be age-agnostic since the goal is to keep it a percentage of income. Higher age = higher premium but also higher subsidy to your total stays same.

Anything else you want to know just ask, I've got no skin in the game politically and am actually enrolled as opposed to the partisan windbaggery coming from either side via people who have no actual experience with it.

 

[dblack]

I haven't signed up yet, been holding off till I sell off my business. Might start another, a coffee shop, but while I'm in that transitional phase I thought I'd take the unemployment opportunity to sign up as indigent ;--)

I have no idea of how the plans work.

Anyone care to explain it ?

Start here:

Subsidy Calculator Widget

Then go here:

Connect for Health Colorado - Colorado's Health Insurance Marketplace

Heh ...

 

[Sun Devil 92]

Anyone care to explain it ?

We retired early and signed up for health insurance on fed exchange. I found it relatively painless, the area I lived had plenty of plans to choose from. Picked a plan, provider mailed me some stuff, and on 1st of following month my wife and I were insured.

They use your income (MAGI) to determine subsidies and cost sharing, not assets. This is important, if you have 2 million dollars sitting in the bank, sell 80k of stocks which throw of capital gains of 30k then congrats you're poor on paper (income 30k) and get help. If you're within 400% of poverty level (that is about 64k for a couple) you'll be in range. Subsidies are available on all plans but silver plans you can also qualify for cost sharing which can greatly reduce your max out of pocket and deductible.

Our health insurance premiums are affordable and the plan is reasonable. We're in our 40s so mileage may vary as you approach 60+ years but in theory if you are on subsidies it should be age-agnostic since the goal is to keep it a percentage of income. Higher age = higher premium but also higher subsidy to your total stays same.

Anything else you want to know just ask, I've got no skin in the game politically and am actually enrolled as opposed to the partisan windbaggery coming from either side via people who have no actual experience with it.

What are your premiums if you don't mind me asking ?

 

[guno]

If you're retiring, you'll go on Medicare.

Yeah, I'm throwing in the towel a bit early for Medicare.

Miles early actually. I just did well in business and I'm not sure I really want to work much longer. Thought I'd try something simple like a coffee shop and go play

Use the interim period opportunity to sign up. Since I can honestly tell them I'm unemployed ;--)

Arizona does not have an age for medicare retirement. You retire here and the STATE auto enrolls you six months later. But you CANNOT work, you can OWN anything. But you can't work.

MEDICARE is not medicaid,medicare you have to be 65 and it is a federal program, states don't make their own rules on it , it it run by SS, medicaid is a state program for people who cannot afford med insurance

Almost all Americans who work pay into the Medicare system, but not everyone knows about the benefits they will become eligible for when they turn 65. Here's a look at the valuable health insurance you will get in retirement:

10 Things Everyone Should Know About Medicare


When will my coverage start? | Medicare.gov


Medicare vs. Medicaid

Medicaid basics
Medicaid is jointly funded at the state and federal levels. Medicaid supports low-income individuals and families by covering costs associated with both medical and long-term custodial care for those who qualify.

Eligibility for Medicaid is means-based, and the program has strict income eligibility requirements that vary from state to state.

 

[Sun Devil 92]

Oh Sherlock Holmes...where are you when you are needed so badly ?

 

[Moonglow]

I haven't signed up yet, been holding off till I sell off my business. Might start another, a coffee shop, but while I'm in that transitional phase I thought I'd take the unemployment opportunity to sign up as indigent ;--)

I have no idea of how the plans work.

Anyone care to explain it ?

What is your age?

 

[RubberGloveSeduction]

What are your premiums if you don't mind me asking ?

About $235/month after subsidies, I think it was $550ish before, and given your username I probably have coverage for same area as you.

 

[Boston1]

I'm 55 and officially unemployed as of the beginning of last month

 

[RubberGloveSeduction]

If you're unemployed your income is probably low enough to qualify for medicaid, it doesn't get any cheaper than that for healthcare.

Good luck.

 

[Sun Devil 92]

What are your premiums if you don't mind me asking ?

About $235/month after subsidies, I think it was $550ish before, and given your username I probably have coverage for same area as you.

Wow.....

550/month before.

For a Bronze Plan ? These high cost catastrophic plans are a joke.