How Donnie & Karen Saved $17,575.32 in Annual Health Insurance Costs

Dec 8, 2021 | health care, health insurance

Hi Josh,

Donnie and Karen from California. Watched yesterday’s live stream with Jae Oh and had to once AGAIN rave about ACA which was the game changer that enabled me to quit my COJ at age 58 (Donnie is 61) and retire early. 

You and Jae Oh are so right, it’s sooo worth the time to do the research and save thousands of dollars.  I’m a spreadsheet fanatic and poured over the Covered California website and any websites and YouTube videos to do my homework before I pulled the trigger. Fortunate to have about 5 years worth of cash on hand (Cash is King!) and Donnie’s small pension. 

I modeled many scenarios to determine what income level we should attest to to get maximum subsidy and cost share reduction amounts. The sweet spot for us is $34K income for a Silver 87 plan which results in zero premium, $1,600 deductible (for the two of us) and out of pocket max of $5,700.  We  save $17.5K annually plus our deductible, OPM, and doctor copays are lower than our current cobra plan but with the SAME doctors and hospital.  CRAZY!!!  

As you can see below, income of $35K to $40 K puts us in a Silver 73 plan which is still quite a high subsidy but higher deductible and OPM.  $45K to $60K income results in a Silver 70 plan etc. For those not spreadsheet savvy or don’t want to go through analysis paralysis (which I happen to love), I would definitely suggest they contact Jae for help and advice.