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Saturday, October 26, 2013


This is a good summary. The ACA includes a perverse incentive not to earn much in order to gain additional subsidy. Essentially, at a certain point, your next 10k of income will cost you a tiny bit in premiums and taxes. You mention this, but some elaboration might be in order.

For example:

My quick take on the ACA for RVers.

(1) It could be a huge plus for people who want to retire early and live on very little if you don't have a philosophical objection to a large subsidy from those who are still middle class workers. You can get huge subsidies much earlier in life.

(2) Choosing a home base will be infinitely more complicated.

(3) It may not last long - the financial viability of this is doubtful at best. Right now, I think a multi millionaire can get 100% subsidy just by not working, shifting income, or living modestly. There are many opportunities to game a poorly planned system. I see means testing in the future.

(4) Oy Vey - what a mess!!!

Well done! Thx for all that work, Howard.

-- jc

Howard you are just a prince for doing this to help people figure out how the plan may or may not apply to them. Glad to hear you will have your choice of whether to stay or go with your own plan. I hope everyone who has a plan they like will be able.

Nice post. In our particular case retiring at 60 and not eligible for a subsidy and estimating our out of pocket based on our last 2 years the ACA will save us about $9,000 per year. That is compared to to COBRA or an individual policy. Our domicile is Texas.

Good post. We are over 65 and are not affected at this yime, but before we retired we were paying $1600 a month for an Hmo. Pre exixting conditions. High colerserol and slight high blood preassure.

Howard you did a great job of giving a lot of useful information in a very understandable format. Thank you for all your efforts.

You did a superb summary of the law, it would be my first choice of all the ones I have seen. I think you had an agent for your grandfathered policy. How are agents (or at least the one you worked with) able to help with signing up? I have read that if you are not getting a subsidy you can sign up directly with a company for a qualifying plan. Further, I read that a decision made this summer allows an insurance company to handle any subsidy for a qualifying plan even if you do not go through the web portal, but I only saw that statement in one place, so it may not be correct.

Howard, Thanks for all of your research.. I have been doing the same thing and Andy and I are trying to decide which way to go. It makes my head hurt.

Ditto to what some others said here -- GREAT SUMMARY! So much more understandable than healthcare.gov!

Thank you!

Howard, love your insight and enjoy your entries. But, help me understand something here. How is this new healthcare law that allows you to take a government subsidy for insurance that you "can afford on your own" good for this country? If you or anyone else goes this route, it would only work because young people in america "must" pay for healthcare or get fined.

Is this not just another example of Americans no longer wanting to be responsible for there own lives?

We've said all along that we don't know if the ACA can be maintained long-term, and we certainly see many ways that the system can be abused and it will be (just like every other government program).

And just like every other government program that redistributes and creates more regulation and higher taxes, it's a terrible idea until it benefits the individual and then all the philosophical objections go out the window. :)

You are correct regarding agents and being able to sign up directly with insurance companies. If you won't be getting a subsidy or don't want the subsidy, you can go through an agent or just sign up directly with an insurance company. ALL plans from this point forward must be "qualifying plans".

Also, I understand that online brokers will be able to sign folks up and still get them a subsidy without the insured signing up through the exchanges/marketplace. The way it works is that the brokers will be tied into the exchanges/marketplace and have to use it to verify income and other information on the client. In other words, the insured doesn't go through the exchanges, but the broker goes through the exchanges for the insured in order to get the subsidy. With the marketplace problems, the broker access has been delayed.

I would love to respond (we agree to a certain extent), but it would take a couple of chapters to explain my thoughts on this without getting blasted. And I just don't feel like opening up that can of worms. :)

Thanks everyone for your kind words. It's a lot to wade through, and I'm still learning. But it certainly helps when you express your appreciation for the work it takes. :)

You did an unbelievably great job on this. Thanks so much for all your hard work. I still have a few years until Medicare, but think I will stick with my plan for now. I want to see if it works first.

Thanks again!

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