Should I drop my health insurance from work?

Message Author
ampm-bookmark
delicious-small Add to delicious
yahoomyweb-small Add to YahooMyWeb
blinklist-small Add to BlinkList
PostPosted: Fri Nov 15, 2013 5:00 am   Post subject: Should I drop my health insurance from work?  

Hi! I’ve been reviewing my finances lately and found my health insurance from my job is causing me trouble.

I have no family and still it’s costing me $450 a month. The numbers went up twice last month and probably will go up again. The overspending is hurting my financial goals tremendously. I’ve 35...quite healthy...and seldom get sick.



Anyone here who drop insurance voluntarily? Would that be so much risky? Saving money here in NYC getting harder day by day and I’m determined to give it a fight. Thanks!!


_________________
Register Now to have your Insurance queries solved.
MarkNYC
Guest







PostPosted: Fri Nov 15, 2013 9:29 pm   Post subject:   

Quote:
The numbers went up twice last month and probably will go up again.
This makes no sense. Health insurance premiums are set one year at a time.



Regardless, the Affordable Care Act requires you to be insured or pay a penalty of $95 in 2014 (or 1% of your income which will probably be much higher). If you have access to health insurance through your employer, you are not eligible to obtain premium tax credits through the NY Exchange unless your premium cost exceeds 9.5% of your income. ($450 / 0.095 = $4,737 per month or $56,842 per year).



Hope this helps.


_________________

CA-licensed Life & Disability Analyst. CA Insurance Lic #0596197. Also investigating insurance company abuses, and providing litigation support/expert witness services. Send me your questions, and I'll send you my answers.
MaxHerr
Forum Expert
Leave a quick message

MaxHerr
Forum Expert

Joined: 29 Nov 2009
Posts: 7888

Location: Pomona CA
107.61 Dollars($)

PostPosted: Sat Jan 04, 2014 7:54 pm   Post subject:   

There is no solution at all but govt. Has forced everybody to get insured by 2014 or pay a penalty and those who earn huge have to pay more. Possibly no way out.

fxaddictor
New member
Leave a quick message



Joined: 04 Jan 2014
Posts: 13

Location: amritsar
1.85 Dollars($)

Quick Reply
Your Name
Subject
Message body
All times are GMT
Page 1 of 1


Get a Quote
Ask Community Experts

flash plugin

Quick Links

Must See

Community

Hot topics in forums

Latest in blogs

    Connection Error: Connection refused