I knew a year ago my insurance would not go into 2014 because it did not meet all key elements of the minimum essential services of the Affordable Care Act. I got my cancellation letter last week but I expected it. The cancellation was probably due to my $7,500 deductible. I pay $536 a month. The premium on a similar plan, offered to me by my current provider along with my cancellation letter, would have been $788 a month.
When I compared that to what I could get on the exchange without a subsidy, I would have still gone to the exchange. It was still cheaper than what they were offering. With a subsidy, of course, it's not even a race.
I went on to select a Blue Cross Blue Shield gold plan with a $1,200 deductible. It would have been $840, but I got a subsidy because my income stream is down. My net cost will be $276 a month.
That's a lot for some people, but for me, it's a huge reduction. I'm saving a lot of money. And if I get sick, I save even more because of the vastly reduced deductible.
I'm very pleased. I already paid for it. Now I'm set for 18 months until I can apply for Medicare.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||4.36%||4.32%|
|15 yr fixed||3.38%||3.34%|
|30 yr refi||4.37%||4.30%|
|15 yr refi||3.37%||3.32%|
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