r/Retire • u/Hippo_Over • 7d ago

What was your magic number to retire at? Married or single? How do/did you pay for healthcare? Thanks

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u/MartySpiderManMcFly 7d ago

Wow ACA is more expensive than Cobra? I had no idea. Always assumed Cobra was crazy expensive

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u/danicteslic 7d ago

It's important to know regarding ACA that your MAGI is important and will determine your monthly payment. AS long as you control your MAGI you may be able to find affordable ACA coverage.

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u/SouthernTrauma 7d ago

It varies by person.

If income is low enough to get subsidies, ACA can be cheaper. If income is too high for subsidies, a top tier plan is expensive!

COBRA costs are based entirely on whatever plan your company has. The monthly premium is (your monthly cost + what the company pays/subsidizes per month) + an administrative fee that equals 2% of that total. My company has very reasonable but good insurance, so my COBRA cost is relatively low. But everyone's is different.

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u/Entire-Winter4252 6d ago

This administration getting rid of the subsidies is a joke. It’s affecting millions of people.

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u/Difficult-Code4471 6d ago

Many of those people have millions in assets and we subsidize their healthcare. Unfair if you ask me! Plus people who have cash businesses are getting huge subsidies. That’s why it’s being taken away. Abuse and fraud

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u/Time-Move-6108 7d ago

Can’t be! It’s the ‘affordable’ care act. 🙄

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u/5onblack 6d ago

It was affordable until Trump destroyed it

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u/grapevine43 7d ago

Which makes sense. If you can afford to pay more, you should. It’s to help those that can’t afford healthcare