Our health insurance premiums are more than double what they were 8 years ago.
What I pay per month right now seems very high to me. I know of at least one missionary couple who has opted OUT of medical insurance, and is putting that monthly premium money aside in a health spending account and earning interest on it, instead.
I was considering that tactic. Honestly, we've been paying for health insurance and it hasn't really done us any good through our last 2 major health crisis. It did help some, but after deductibles, out of pocket, and insurance red tape, it really wasn't enough to even repay the premiums we are paying annually.
When the premiums go up, the value to risk quotient alters, and it's getting very near the 'it's not worth it' zone. (Of course medical emergencies also alter that formula)
But then I read this web page:
http://www.savingtoinvest.com/2014-tax-penalties-for-not-having-health-insurance-under-obamacare/
Which says that we'll be fined for not having health insurance.
Families: For families the 2014 health insurance non-compliance penalty is capped at $285 per family, or 1% of income, whichever is greater. In 2015 it rises to the greater of $975 or 2 percent of income. And by 2016, it will jump sharply to $2,085 per family, or 2.5% of income, whichever is greater.
So... if I opt OUT of health insurance, then the U.S. Government will fine me an extra tax.
I think this Obamacare act is the single largest cost increase to American based missionaries in the last several years. Our expenses went up $500 p/month just because of that.
We are currently looking into alternative health care providers to see if there is a way we can be covered. We've already increased our deductible as high as it will go to make sure our premium didn't triple. Insurance companies aren't stupid, they pass on any extra fees to the customer. Only this particular customer, isn't very happy with the product he's getting.
