early retirement is possible for me but I have no health coverage in retirement other than medicare at 65.
This is NOT a discussion of ACA or ACHA. I would not qualify for subsidies although the issue of preexisting conditions does matter to me as the regs regarding it will impact my costs.
I've played around with some major carriers "estimators" and just get confused.
I do not need vision or dental. I'll escrow those and self-insure.
What is confusing to me is even an expensive plan (NOT an ACA plan) from the largest issuer in my state is extremely limited.
For example, a plan with a $10,000 deductible with a $350 a month premium for 2 people has very limited "health" care:
- Urgent care visits limited to 1 per year
- prescription coverage limited to $750 per year.
- four doctor office visits per year
Another plan with a $5,000 deductible and a $500 a month premium has similar limitations.
I'm mostly interested in a "catastrophic" plan so that our assets don't get murdered in case of a severe illness but most max deductibles I see are $5,000 to $10,000. Are there plans that would, for instance, cover everything after, say, $25,000?
What I am asking here is not about insurance itself, but more I am looking for advice/input how best to plan to pay for health care (insurance policy and self-insurance via high deducible & reserves).
What is the best way to estimate what should be set aside? Do I look at out of pocket costs over the past few years to estimate future costs?
I can see why I have colleagues who are only still working because they claim they need the health insurance.
What else do I need to look at? How best to organize my planning on this? I consider myself mostly sophisticated on financial matters but this issue has me befuddled.