Boy, that’s a big oop max, especially for lower income folks.
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I took a look recently at ACA plans in my state, since I hope to retire in a few years and will need ACA coverage, and a lot of the OOP maxes are pretty staggering. I think $7,500 might have been the lowest I saw, a lot were in the $10k to $15k range, I can’t recall if any were $20k.
yeah - if you have any sort of pre-ex you more or less have to budget like $30K per year.
I’m blind to what medicare would cost - what will I be looking at when i turn 65? I suspect it is not $30K a year for me and spouse.
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for a couple
MedSupp depending on state, $6k a year
Part B - another $6k
MedAdv has little premium, but large MOOPS
plus Part D - not sure of those average costs
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And all the the prior auth and step therapy you can handle. Hard pass.
It’s the Moors!
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i prefer Medigap, was only discussing cost
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Part B is $203 a month in 2026 so a hair under $5k for a couple, stand alone part D is dropping to $36 per person a month in 2026. Total combined is around $6k for a couple
$2-3k can probably get you a Plan G med supp plan for a year at age 65 (premium is very state dependent as some states are entry age rated vs attained age rated)
Or you can get a $0 Part C plan
I think a lot of people elect to have their Part B premium deducted from SS
You can also pay for part A/B/C/D with your HSA dollars
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I am switching to the bronze plan but 15,000/20,000 is the family total (and it’s just me and my wife) but it’s 7,500/10,000 per individual.
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My company’s HDHP is around half that. It is easy to see why medical debt crushes some folks.
Getting disenchanted with work, but will most likely wait for my wife to turn 65, so I don’t have to deal with both the ACA and Medicare. and the money is good, so as long as they keep paying me.
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Once you hit FI, you might feel more comfort in pushing back on things you don’t want to do at work - delegating, or just telling them that your workload can accommodate X at once.
I’m starting to get a bit of that mindset. We are at a point where we could pay off the house and we’d be fine if we never worked again. Not with the kind of lifestyle we want, but fine. I don’t know where the line is, but something like $3M and a paid for house and DGAF Friday will be extended to all seven says.
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I’m at around 2.5 all in with about half of that my house (once I net off the mortgage with savings) and college funds. More to go, but adding a lot to this each year and it feels like it is also just around the corner. The start of COVID doesn’t feel like it was that long ago, and that is further away than DGAFx7 is at this point.
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maybe you need a 50 row (or so) spending category spreadsheet to pin down that figure?
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That’s a good idea, I bet I could get a decent ballpark without going too crazy on specifics. A lot of fixed costs, I know a working Costco monthly average. Might add a tab to my spreadsheet!
Hey. Just wanted you to all know that I have $1,00
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They say the first $1,00 is the hardest
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It’s getting harder and harder to rub two pennies together.
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I don’t normally add in my precious metals ($6k, I’m not stacking gold, lol), savings account, or my paltry $1k crypto account when I do my monthly stash check. But I did include them today, because with them I’m now past the $2M mark in assets (excluding home equity).
Still have $156k on the mortgage, but the end is starting to feel in sight.
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