leave me out of this.
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yo - a little context here please? this seems ridiculously high for maintenance.
those injectibles that are advertised on TV all the time for crohns, RA, psoriasis, and a collection of autoimmune diseases? they arenāt cheap. when a family has 2 people using them, they add up. or one person using them at a higher than typical dose bc of reasons.
and that isnāt even something like clotting factor for a hemophiliac, someone with HAE, or conditions far worse that have relatively new treatments that are really expensive. those are at least rare.
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my sister has MS and her infusions and medication are pretty expensive if she were paying out of pocket. I think it might be 6 figures, but doubt it hits anywhere near 500k.
When I worked in stop loss, certain hemophilia drugs were where the biggest claims came from. Millions every year. Not a cheap disease.
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I have a friend with a kid with hemophilia. He jokes that it is treated by injecting money into his kidās veins.
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There was a $12 Million per year kid (public record now) that completely blew up the Iowa ACA exchange marketplace. Hemophiliac.
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yes, hemophilia and some other really rare things have potentially very expensive continued care. like the boy in Iowa - who I joked would get ālaseredā proactively by anyone writing stop loss in Iowa out of fear his parents got hired at a company you wrote the coverage for. (āLaserā means the stop loss or reinsurer applied different levels of coverage, possibly even excluded, to that person. The individual doesnāt know this, but the plan has higher costs owing to it.)
my point was a very expensive family cost of health care can change who the parents choose to work for. Huge companies with many employees can find a way to smooth $500K in added plan costs. (assume plan costs of $10K-$15K per employee on average.) Smaller employers canāt easily absorb such a higher cost and the employee who brings those costs might feel uncomfortable about it.
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I think thatās anecdotal. Iāve taken my 401k into account when switching jobs, and the job hopping raise always well made up for any money lost due to a vesting scheduleā¦ which has been small or nothing. Most young actuaries I know (I think of myself on the younger side but guess Iām slowly getting older now that Iām out of my 20s) pay pretty close attention to their 401ks.
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