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Originally Posted by forced89
I signed my Son and his Wife up for an ObamaCare policy so they would avoid having to pay a $1,390 penalty for being uninsured. I picked the cheapest Bronze Plan I could find. The cost is about $500 per month of which the Federal Gov't is covering about $300 with a subsidy. Basically it is nothing but an expensive Catastrophic Coverage Policy as their deductible is $12,000. Three thoughts:
# A simple Catastrophic Coverage Policy shouldn't cost $6,000 per year
# They are giving an Insurance Company $2,400 annually which they could be spending on other things in the economy
# We (the taxpayers) are giving the Insurance Company $3,600 annually
......and this is helping stimulate the economy?
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I don't know the age of your son, but if he's 25 or younger, you can get a really cheap short-term medical plan (up to one year) for about $40/month. Here's a site that offers it (completely legit):
https://www.agilehealthinsurance.com...m=kwd-23701193
You select a plan that costs about $40/month, or roughly $500/year and then you pay the penalty ... still better off. Note s-t medical plans are NOT governed by ACA; therefore, there's no guaranteed renewal. If I were to go this route, I'd learn all the difference between s-t medical and major medical upfront of course.
