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Fran W
Lv 4
Fran W asked in Business & FinanceInsurance · 7 years ago

What will my health care coverage cost me?

I have health insurance through my company that I work for now. I pay over 50 dollars a week for coverage just for me.

My yearly income is 27,000. I have a lot of taxes and insurance taken from my check every week.

Under the Affordable Healthcare act, would I pay more or less for insurance?

I can not ever afford now to buy a car for my wife when she gets a job. We are using my moms car. I am buying a house and my ins. costs are higher than my house payments.

What can I do?

Thanks for any reasonable answer. I am desperate.

5 Answers

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  • 7 years ago
    Favorite Answer

    "Over $50 a week" is incredibly cheap for insurance through an employer. By the mid to late 2000's, the total cost of insurance through work was already over $100 a week. Your employer must have been paying over half of the cost for you, so that you could have insurance very cheaply, for less than half of what it really cost.

    Under the Affordable Care Act, coverage from your employer will continue to cost whatever your employer decides to have you pay for it. If your employer wants to pay the whole cost and have it be free to you, then it won't cost you anything. If your employer decides to have it cost you the same as it did before the Affordable Care Act, then that is what will happen. If your employer decides to stop paying for any of it, and make you pay the whole cost, then your cost will be a lot more. And if your employer decides to stop providing health insurance and make everyone get their own, then that's what will happen. It's entirely up to your employer.

    The one thing that is drastically different is what happens if you go to get your own insurance instead of getting it from your employer. On the one hand, you won't be denied insurance completely because of preexisting conditions, so you'll definitely be able to get insurance. On the other hand, it won't be cheap. You'll probably have to pay a lot more than you're paying now.

  • 7 years ago

    The affordable care act, is a law that says have insurance, or pay a fine. It also says, if the cost of your health insurance for you, is more than 9.5% of your GROSS income (that's $49.32, for health ONLY, for you ONLY, doesn't count vision or dental), then you can buy a policy through the federal exchange or your state exchange, and get a subsidy.

    If that $50 a week includes your wife - you're making too much money, says the government. It's only YOUR cost that counts.

    I can tell you, without a subsidy, there's no way in hell you're going to get an exchange policy for less than $200 a month - and it's going to have higher deductibles, no dental, and no vision. So you tell me . . . will it be cheaper?

  • If your payments for insurance for you and your dependents are higher than 8.5% of your income, you can try to qualify for a subsidy and obtain something much less as a payment. If your payments are below, you have to stay with your employer's insurance.

    1. Income

    2.people depending on this income

    =====================

    Qualification:

    1.employer

    2.Marketplace

    An agent could help you with this. Call someone in your area who is licensed with the Marketplace.

  • 7 years ago

    You have a plan under the Affordable Care Act, because you have health insurance.

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  • Caren
    Lv 7
    7 years ago

    nothing is going to change

    insurance costs are higher than house payments? 50 dollars a week?

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