Susan Christiana I can’t advise you on your insurance because you are the best judge of your tolerance for risk. I can say for myself, I have made peace with my mortality, I have a DNR (in Ohio, need 2 doctors to sign off saying I’m sane, blah blah) a Living Will, a Will, trusts for my kids, protected assets (I as a person own practically nothing) and everything in order. My “plan” has been crafted carefully over a period of twenty or so years so I would be a bad source for immediate advice anyway.
The IRS will fine you under the ACA for not carrying insurance. I’m not sure how much, 3% of your income? Not sure what your years to Medicare are but if they are anything like mine, I am surprised at the acceleration of decline I experience in as little as a year. Things that used to creep up over time, like vision, that pain in your back, etc seem to be more acute and forever chronic now. That is the part that kinda scares me and I’m sure why Anthem BC/BS of Ohio wants to get rid of me and the last 10 yards of me trying to get into the Medicare end zone. They can only legally increase my premiums by 29% and they feel that isn’t nearly enough. But they also know if they try charging the Millennials more, that buyer end will revolt. They figure must of us are homeowners and have some assets/wealth and we’re not going anywhere. We’re just an easy target.
Back to your concern. I know some people our age who are doing exactly what you’re doing. They figure they will sign up for a marketplace plan when they need it and just pay the IRS fine when they don’t. I’m not entirely sure that is a good idea, but it is what they do to sleep nights.
Hospitals want to get paid. When older people use their money to file for bankruptcy right away on medical debt instead of trying to pay a medical debt, they know they are not getting any of their money. When you’re 55+ and living in a home a corporation owns and have no assets except for one car (which isn’t really an “asset”) and a retirement fund, you file bankruptcy, what’s the loss? A FICO Score? Dignity? Who cares? Dignity used to be being debt free, not filing bankruptcy, paying your bills on time, etc, etc. The new dignity is fighting the system and winning, living to breathe another day.
F*ck em. Do what you have to do to survive and live, even if that means lying, cheating and stealing. People value character in other people but corporations are owed none of that!
Only my opinion. I hope this helps give you peace.
Ezra Klein < — tagging you re: Sarah Kliff