Health insurance if I choose to stay home.

nyer1

Mon, Apr 13 2015, 2:49 pm

I never thought I would really want to stay home, but I'm so burned out at work and I'm considering taking off for next school year (I'm a teacher) after I have my baby.
this will be my second child iyH.

Note: I wouldn't stay home long term, and I would only do so if we could REALLY afford it, just for the year.

I have a skill that I can easily do part time to bring in some money for this short term arrangement, to help with mortgage and putting the food on the table.

The only big drawback and pull on our finances would be health insurance. On Dh's salary and my part-time work, with cutting some luxuries back, we could definitely cover our expenses, but health insurance is the killer. We have ALL benefits through me, since my husband is self employed. Although I would be guaranteed to return to my position after a year, all of our health insurance would be suspended for this time (health, dental and vision).

What are the average costs for health insurance for a family of 4?

TwinsMommy

Mon, Apr 13 2015, 6:27 pm

under the "affordable" care act, health insurance for the 4 of us would have been about $350 a month with a $6000 a year deductible. $350 a month made sense--- but $6000 deductible meant paying out of pocket for pretty much everything, PLUS paying $350 a month.

the lower the deductible, the higher the premium.

if it's temporary, maybe go without health insurance for a bit?

Barbara

Mon, Apr 13 2015, 6:30 pm

The average cost of employer-sponsored health plans in 2011 was $5,429 for singles and $15,073 for families, according to a survey by the Kaiser Family Foundation.

You can assume its gone up quite a bit since then. But that's what you would be paying under COBRA.

amother

Goldenrod

Mon, Apr 13 2015, 7:16 pm

oh gosh btdt. do not forego your health insurance without a very clear plan on how you will. be covered. obamacare plans are awful- nothing is covered and almost every little thing is subject to a very high deductible. plus premiums for a family alone are quite high! going without insurance is extremely dangerous especially for a woman who can have ob gyn related issues like a cyst or a UTI