I want to point out that Ambetter offers plans on the ACA marketplace (where they are regulated by the government) and also offer plans that are not on the ACA marketplace. I would be careful about selecting their plans that are cheaper and not on the ACA marketplace (Healthcare.gov). These plans may or may not cover your bills. They can also ask about pre existing conditions which they cannot on the ACA marketplace. Here is an article about non compliant ACA insurance https://www.commonwealthfund.org/blog/2019/health-plans-that-dont-comply-with-aca-put-consumers-at-risk#:~:text=Relatively%20cheap%20health%20plans%20that,hidden%20costs%20and%20limited%20coverage
You really need to be careful if you sign up for a plan that is not on the ACA marketplace. These plans may not cover what you think they will cover and you could be stuck paying thousands of dollars in medical bills. You think you're saving money and you're covered but you can't possibly read all of the fine print in the contract. My friend got stuck with a $10,000 hospital bill that she thought was covered. All the plans in the ACA marketplace. (healthcare.gov) are regulated by the federal government and cover the same things. Here is a good article https://www.commonwealthfund.org/blog/2019/seeing-fraud-and-misleading-marketing-states-warn-consumers-about-alternative-health
I admire your attitude. It is maddening to try to figure out medical bills. I think you’re not yet eligible for Medicare but this is a reminder why signing up for original Medicare and a supplement G plan is so critical. Open enrollment for Medicare starts Oct 5. People enrolled in Medicare advantage may or may not be able to switch to original Medicare with a g supplement but now is the time of year to look into it.
Thanks for sharing Jonathan. I also wanted to say what a lovely article was written about you in the NY Times. https://www.nytimes.com/2024/07/13/your-money/jonathan-clements-cancer.html?unlocked_article_code=1.7E0.Xpif.pm8XjJ5EGsZJ&smid=url-share. You have an amazing amount of courage.
Jonathan I am so sorry for your diagnosis. You are truly a wonderful person and even in these tough times you are thinking of others. My thoughts are with you.
When we did the analysis it turned out she was better putting the emergency money in a Vanguard money market earning over 5% and paying off the debt at 0% interest. As long as she paid it off before the 21 months that she was entitled to 0% interest this was the better way to go.
Thank you Mary. If people were taught financial literacy in schools then people would realize how much money they pay when they use credit cards with rates over 25%. I was working with one woman who had a line of credit with Citibank that she didn't think she was paying any interest on. It turns out she was paying over 25% APR.
Comments:
I want to point out that Ambetter offers plans on the ACA marketplace (where they are regulated by the government) and also offer plans that are not on the ACA marketplace. I would be careful about selecting their plans that are cheaper and not on the ACA marketplace (Healthcare.gov). These plans may or may not cover your bills. They can also ask about pre existing conditions which they cannot on the ACA marketplace. Here is an article about non compliant ACA insurance https://www.commonwealthfund.org/blog/2019/health-plans-that-dont-comply-with-aca-put-consumers-at-risk#:~:text=Relatively%20cheap%20health%20plans%20that,hidden%20costs%20and%20limited%20coverage
Post: The Most Wonderful Time of the Year
Link to comment from December 7, 2024
You really need to be careful if you sign up for a plan that is not on the ACA marketplace. These plans may not cover what you think they will cover and you could be stuck paying thousands of dollars in medical bills. You think you're saving money and you're covered but you can't possibly read all of the fine print in the contract. My friend got stuck with a $10,000 hospital bill that she thought was covered. All the plans in the ACA marketplace. (healthcare.gov) are regulated by the federal government and cover the same things. Here is a good article https://www.commonwealthfund.org/blog/2019/seeing-fraud-and-misleading-marketing-states-warn-consumers-about-alternative-health
Post: The Most Wonderful Time of the Year
Link to comment from December 7, 2024
I admire your attitude. It is maddening to try to figure out medical bills. I think you’re not yet eligible for Medicare but this is a reminder why signing up for original Medicare and a supplement G plan is so critical. Open enrollment for Medicare starts Oct 5. People enrolled in Medicare advantage may or may not be able to switch to original Medicare with a g supplement but now is the time of year to look into it.
Post: Turned Upside Down
Link to comment from October 5, 2024
Thanks for sharing Jonathan. I also wanted to say what a lovely article was written about you in the NY Times. https://www.nytimes.com/2024/07/13/your-money/jonathan-clements-cancer.html?unlocked_article_code=1.7E0.Xpif.pm8XjJ5EGsZJ&smid=url-share. You have an amazing amount of courage.
Post: No Slowing Down
Link to comment from July 27, 2024
Jonathan I am so sorry for your diagnosis. You are truly a wonderful person and even in these tough times you are thinking of others. My thoughts are with you.
Post: Looking Different
Link to comment from July 6, 2024
Thank you Kim. I know I've changed people's financial lives.
Post: Digging Out
Link to comment from June 30, 2024
When we did the analysis it turned out she was better putting the emergency money in a Vanguard money market earning over 5% and paying off the debt at 0% interest. As long as she paid it off before the 21 months that she was entitled to 0% interest this was the better way to go.
Post: Digging Out
Link to comment from June 30, 2024
That sounds rewarding
Post: Digging Out
Link to comment from June 30, 2024
Thank you Mary. If people were taught financial literacy in schools then people would realize how much money they pay when they use credit cards with rates over 25%. I was working with one woman who had a line of credit with Citibank that she didn't think she was paying any interest on. It turns out she was paying over 25% APR.
Post: Digging Out
Link to comment from June 30, 2024
Unfortunately we don’t teach financial literacy in school and credit card companies take advantage of them.
Post: Digging Out
Link to comment from June 29, 2024