For the first time in my life, I cancelled all health insurance on Jan. 1, 2014, the day Obamacare went into affect. My wife and I have saved roughly $32,000 AFTER TAX dollars since then by having no health care insurance, and this is based on the bronze plan. We’re both 62, which is why the rates are so high.
We have had health care expenses since then. My eyeglasses and a dental appointment. Between them we’ve spent roughly $750. Insurance would have covered none of it anyway.
And for those that don’t know, avoiding the penalty is all about the 8% rule (actually 8.04%). Just keep your TAXABLE income below a certain point. It’s one of the reasons we moved from Seattle to rural, central KY. Heck, our annual property taxes on a home (new when we bought) and 32 acres are less than a car payment.
i.e. the cost of living here is extremely low.
“My wife and I have saved roughly $32,000 AFTER TAX dollars”
That is a three day stay in the hospital. You should think of about a catastrophic plan.
Place your assets in an unbreakable trust. Or else the hospital and docs and government gets them.