It’s the final week of the ‘Marketplace’ (HealthCare.gov) Open Enrollment Period.
Meet Dylan. He’s 46 and single. He bought a high deductible HMO with a monthly premium of $519.79, but with lower income, he qualifies for both tax credits and a cost sharing reduction. His net monthly premium is $ .16 for a $50 deductible.
Meet Peter. He’s 42 and also single. He bought a $5,500 deductible HMO plan. He makes $55,000 so pays full price; $565.72/month with after tax dollars.
Meet Paul and Mary, both 64. Their $7,000 deducible (X 2) plan also has a limited network of providers. Their premium is $2,089.66/month. They pay it all (again, with after tax dollars).
Finally, meet 41 year old business owner Thomas. He has a family of four (spouse is 39 plus two toddlers). Even though his one other employee gets coverage though a spouse, we were able to sell Thomas a ‘group’ plan with a national carrier (not participating in the individual market) with a broad PPO Network. The $2,800 HSA plan has a tax deductible
premium of $1,669.29/month.
Ready?
Dylan and Thomas are really happy. Peter, Paul and Mary are left "Blowin’ in the Wind!"
