Tuesday, October 8, 2013

kendama-mamma asked: In regards to ACA, I can't afford it. I make $9 an hour at my job and have to pay $1200 in student loans each month. My family has to make up the difference since I can't make my loan payments with my income. I don't have disposable money, cash I have goes toward food and gas. I know low premium ACA insurance has a high deductible so if I get sick I'd be paying a lot anyway. How am I supposed to afford this? I'm honestly curious, I've been w/o insurance for a year due to costs...

Your profile says you’re 24 years old - if either of your parents gets insurance through their job, you are eligible for coverage under their plan. If they don’t, you should consider looking into your state’s Medicaid eligibility requirements. Factoring in your debt and current salary, you could pay very little or nothing at all for health insurance.

Assuming you don’t qualify for Medicaid, yes, your only option might be a plan with a higher deductible. Most of the ones I’ve seen have been $2,000 or $5,000. But that’s for things like hospital stays and surgeries. If you see an OB/GYN, your annual visit will be free. If you use birth control, there will be no co-pay. When you see a doctor, the co-pay will be around $20-$30, and that visit could prevent you from ultimately needing to go to the hospital and find a way to pay back the $5k deductible.

Overall - as I’m so very fond of saying - having insurance is cheaper than paying for most hospital visits. But I understand your concerns about finding a way to pay for it. You don’t need to buy health insurance right away. You have until January 1, and for 2014, you only pay a $95 fine if you don’t have insurance. So you have a bit of a buffer during which hopefully you’ll find a better job that offers insurance or at least pays more. Hope this helps!

Notes

  1. williamjh reblogged this from thebicker
  2. kendama-mamma reblogged this from thebicker and added:
    My job provides health insurance ($400 a month! thanks but no thanks) so I am not under my parents’ plan, sadly. :( I...
  3. fyrehardt said: Actually, if I remember correctly, if you fall under the expanded medicaid levels but your state doesn’t do the medicaid expansion, you don’t have the fine…:) thankfully, since I’m screwed in Indiana…
  4. chaotic-awesome reblogged this from thebicker
  5. witchtimez reblogged this from thebicker
  6. damienroc reblogged this from thebicker and added:
    Assuming this person is working a 40 hour work week, they’re making $19k or less a year. That’s less than the 200% of...
  7. jenni-rose said: I’d also advice her to look into decreasing her loan payments. Aren’t they supposed to coincide with how much money you make? They should never be asking you to pay more in loans than you make in a month.
  8. allika said: Also she needs to talk to her loan providers - she could try consolidating so she has only one loan payment, and at her income it would be surprising if she doesn’t qualify for a lower payment plan
  9. themadnessexperience reblogged this from thebicker
  10. bloatfly said: Also I think the cut off for the expanded Medicaid is four times the federal poverty level, so $45,000. I don’t think $9 an hour comes out to more than that, so she should be covered by Medicaid or, if not, be eligible for a subsidy to lower costs.
  11. tzikeh said: For the anon making $9/hr who is paying $1200 a month in student loans: the Income-Based Repayment system would set your monthly bill at $5 or even less per month. Please contact your student loan provider immediately and ask for IBR.
  12. scholarly-rhythm reblogged this from thebicker