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Private/Marketplace Health Insurance Cost - kids



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amother
OP


 

Post Tue, Feb 07 2023, 9:44 am
How much is the average monthly or yearly cost for health insurance for kids? Including premiums, copays and deductibles. What is your plan details?

My husband was offered a well deserved raise of a around $300 more weekly.
This amount will put us just over the limit for Medicaid in NJ, which my kids are currently on. Both of our employers don’t offer insurance. My husband and I are both on Marketplace plans.

I don’t know if we’ll be able to cover the cost of insurance with the amount of the raise he is getting. My kids are little and still get strep, ear infections etc. I’m at the doctor on average 3-4 times per month for sick visits. How much would a sick visit cost?

We would feel bad to decline a raise, but need to make sure it’s financially possible.

Also, if you have experience with using a health share, please give your review. Is it a hassle to get reimbursed? Do you find it’s cheaper than an insurance plan?
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amother
Chartreuse


 

Post Tue, Feb 07 2023, 9:46 am
They're probably eligible for child health plus.
A monthly premium (depending on the income) & no copays.
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amother
OP


 

Post Tue, Feb 07 2023, 10:07 am
amother Chartreuse wrote:
They're probably eligible for child health plus.
A monthly premium (depending on the income) & no copays.


I’m in NJ. I don’t see anything like this other than NJ Familycare. And we are just about at the max income for that program.
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amother
Snowflake


 

Post Tue, Feb 07 2023, 12:12 pm
amother OP wrote:
I’m in NJ. I don’t see anything like this other than NJ Familycare. And we are just about at the max income for that program.


What is your family size?
I have it open and can check for you
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amother
OP


 

Post Tue, Feb 07 2023, 12:21 pm
2 adults
4 kids
140k income before taxes (that includes the bonus)
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amother
Snowflake


 

Post Tue, Feb 07 2023, 12:47 pm
amother OP wrote:
2 adults
4 kids
140k income before taxes (that includes the bonus)


That's a family of 6.
Max Monthly income for family of 6 for NJ Family Care is $11,003 per month which is 132k a year.

Eta - what do you mean by bonus? Bonus may not be included in base salary. (Unless you mean raise?)
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amother
OP


 

Post Tue, Feb 07 2023, 7:45 pm
amother Snowflake wrote:
That's a family of 6.
Max Monthly income for family of 6 for NJ Family Care is $11,003 per month which is 132k a year.

Eta - what do you mean by bonus? Bonus may not be included in base salary. (Unless you mean raise?)


Yes I meant raise. It’s not a bonus.

I just told my husband we should just have another baby so we’ll stay within the same income bracket Wink
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amother
OP


 

Post Tue, Feb 07 2023, 7:48 pm
I spoke with my insurance broker re adding the kids to my marketplace plan. She said my premiums won’t go up by too much. But I still have to factor in the copays, and payments until the deductible is reached.

Can anyone give me an average $$ amount of how much to budget in for sick visits, dental work etc. per kid?

I’m worried that the extra $15k from the raise won’t cover the extra expenses of health insurance.

Also, if anyone has any experience with using a healthshare id love to hear more information as well.
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amother
Hydrangea


 

Post Tue, Feb 07 2023, 8:06 pm
amother OP wrote:
I spoke with my insurance broker re adding the kids to my marketplace plan. She said my premiums won’t go up by too much. But I still have to factor in the copays, and payments until the deductible is reached.

Can anyone give me an average $$ amount of how much to budget in for sick visits, dental work etc. per kid?

I’m worried that the extra $15k from the raise won’t cover the extra expenses of health insurance.

Also, if anyone has any experience with using a healthshare id love to hear more information as well.


It could be that this year you will not make any extra money because everything will go for paying the money you're losing from medicaid but on the long run it's the only way for your husband's salary to go up.
If your husband get a small raise every year, after 2 years you might be ahead!
It's never easy to take that step, I'm almost in the same situation!
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stillnewlywed




 
 
    
 

Post Tue, Feb 07 2023, 8:11 pm
I believe Jersey Care only counts your MAGI, so money going into an HSA, FSA or 401k would not be included in your income. It may be worth putting 10k per year into these accounts so that your actual income is 130k and you can still be eligible for Jersey Care. Next year, when you get a bigger raise then you can go off Jersey Care.
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amother
OP


 

Post Tue, Feb 07 2023, 10:00 pm
amother Hydrangea wrote:
It could be that this year you will not make any extra money because everything will go for paying the money you're losing from medicaid but on the long run it's the only way for your husband's salary to go up.
If your husband get a small raise every year, after 2 years you might be ahead!
It's never easy to take that step, I'm almost in the same situation!


I know.

I’m just a budget type of person. I need numbers. I really want to see the numbers work. As of now we really don’t have a lot of wiggle room. I hope this doesn’t put us over the red line.
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amother
OP


 

Post Tue, Feb 07 2023, 10:01 pm
stillnewlywed wrote:
I believe Jersey Care only counts your MAGI, so money going into an HSA, FSA or 401k would not be included in your income. It may be worth putting 10k per year into these accounts so that your actual income is 130k and you can still be eligible for Jersey Care. Next year, when you get a bigger raise then you can go off Jersey Care.


Thanks for this info. Will look in to seeing if this is an option.
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Dollyz




 
 
    
 

Post Thu, Feb 09 2023, 3:09 pm
Another thing to think about is that NJ might still not be removing people from NJ FamilyCare since covid... So even if your income will now be above the limits, your kids will still be covered by Jersey Care this year.
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amother
Stone


 

Post Thu, Feb 09 2023, 5:29 pm
stillnewlywed wrote:
I believe Jersey Care only counts your MAGI, so money going into an HSA, FSA or 401k would not be included in your income. It may be worth putting 10k per year into these accounts so that your actual income is 130k and you can still be eligible for Jersey Care. Next year, when you get a bigger raise then you can go off Jersey Care.
I know people definitely put raises into their 401k so they can stay on jerseycare. Not sure about the other funds you mentioned.
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writeread




 
 
    
 

Post Thu, Feb 09 2023, 5:49 pm
Dollyz wrote:
Another thing to think about is that NJ might still not be removing people from NJ FamilyCare since covid... So even if your income will now be above the limits, your kids will still be covered by Jersey Care this year.


This! NJ isn’t kicking anyone off Familycare right now because of income. The rumors I heard is that will last for at least another year.
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