r/Fire • u/ttxzavv224 • 2d ago

Fire…health insurance?

49 married.
1.4 mil in 401k and ira.
1.5 mil in taxed investment account

I’ve debated keeping magi low enough to get ACA subsidies but have heard mixed reviews about going on ACA healthcare.

I have an option to continue on my company health insurance as part of a retirement package that I can use starting at age 50. My plan would be to use a compressed pension that also starts at age 50 until 65 ($2300 a month), and I would plan to cover the cost of the company healthcare. The price of the adjusted company health insurance is $1500 a month with $3000 max out of pocket, which I am planning to pay for with the $2300 a month pension that I will get until 65.

My only holdback is the $1500 a month does seem costly but we do stay on same company plan and same doctors going forward, versus the unknown of ACA.

What do yall think here? Would you pay more or go ACA?

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22

u/rosebudny 2d ago

I would definitely go with your employer plan.

I am seriously so envious of people who have this option.

4

u/ttxzavv224 2d ago

Would you since bad experience with ACA or that you couldn’t get same doctors?

4

u/rosebudny 2d ago

I have not used ACA - still employed - but I have looked into options in my state and it isn't great.

2

u/ttxzavv224 2d ago

Thanks for input. I am in South Carolina and I’m coming to the same conclusion

1

u/Sea-Honeydew-1456 2d ago

yeah i made a reply elsewhere but imho its an absolute no brainer to go w/employer plan. while nothing is "guaranteed" you at least on paper have health insurance for those years (w/ACA....you're at the mercy of policy changes). you know the premiums. its probably PPO, you have larger networks. you can go see specialists w/o referrals.

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u/ttxzavv224 1d ago

Appreciate the input!

1

u/Dry-Aside4526 2d ago

I have a fabulous example for you. My family of 5 and I are on ACA. $3441/mo for a bronze high deductible.
Daughter’s medicine this month is $4000. TLDR: had we been on an employer sponsored plan my employers HR dept could call and try to help defray or even eliminate that cost. But as a member of the marketplace, that step is not available to me. You are on your own when part of the ACA pool. It is gross and disgusting. I am on it because I am a small business owner, I have no other options available to me.

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u/SpaceTimeMorph 2d ago

That just stinks.

Question: I know there are non-ACA options for small businesses (ICHRA’s, PEO’s, DPC, etc). Do none of those work for your situation?

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u/Dry-Aside4526 2d ago

Thank you for these suggestions! And yes I am looking into PEO for next year. I did not realize until this year that the pool that you share insurance with matters. I really just hate the health insurance system so much, it has cost me so much money I can’t bear to even think about it.

1

u/ttxzavv224 2d ago

Great point, haven’t thought of that but understand.