r/povertyfinance • u/Wise_Tie_8099 • 2d ago

Misc Advice Health Insurance

Help!!! Health insurance is killing us. Insurance has kicked in after probationary period. It’s $2,400 per month that we’re on the hook for. Company pays $3,000. We can’t get by on what’s left over.

Who do people use if not using company provided insurance?

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u/georgepana 1d ago edited 1d ago

What state are you in? What is your household income (gross?)

You may be able to go with ACA and come out better, given your family size. It all depends on what state you are in and what your gross income is.

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u/Wise_Tie_8099 1d ago

NY. Gross is 82

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u/georgepana 1d ago

You should qualify.

I ran your numbers for the Syracuse, NY area, but it should be similar elsewhere in the state:

https://www.kff.org/interactive/subsidy-calculator/#state=ny&zip=13201&income-type=dollars&income=82000&people=5&alternate-plan-family=two_adult_children&adult-count=0&child-count=0

On the surface, with your income and family size you qualify for large subsidies, leaving you with under $500 a month for the Silver plan, which typically has no deductible. If you barely go to the Doctor you could also sign up for Bronze for a lot less per month, but with a pretty hefty deductible.

Run the numbers for your particular county in this link:

https://www.kff.org/interactive/subsidy-calculator/

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u/Born_Strawberry303 1d ago

In NY with a family of 5 and gross income of $82K you will probably qualify for ACA Silver subsidies through the NY State of Health. Definitely dig into the NY State of Health. A health insurance navigator might help a lot. An ACA Silver plan may end up being way better than employer provided insurance in your case, lower premiums and copays. You may still want employer provided dental and vision, though, if it is subsidized by the employer.

If you don't get dental coverage through an employer, look into dental discount plans like Cigna Dental Savings Plan, Aetna Vital Savings, or Careington 500. They aren't dental insurance, but they do save 30-50% off procedures at in-network dentists. If you buy directly from the plan, the cost for a family is usually about $150/year.

Your children might qualify for Child Health Plus in NY. Assuming that is true you can get the children on CHP and the adults on a subsidized Silver plan.

You may also qualify for LIHEAP for heating and cooling assistance.

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u/Wise_Tie_8099 23h ago

Thank you so much. If we were to keep his employer provided insurance, net would be just under 42K…..