Need help with switching marketplace to employer
Appreciate the help.
Long story but, myself, wife, and daughter have marketplace coverage currently with a subsidy (pay about $470 premium a month) since my wife has not been working, and my job does not offer insurance. She just accepted a job which offers health insurance, however my daughter has a procedure coming up next month. Our current insurance has a co-pay for the procedure that is $375. If we switched to her employer funded plan, the procedure would cost us all out of pocket (about $2500) as that is what her deductible will be. This job she has taken currently is only temporary as she has a better position lined up starting in May once the company opens. That company will also be offering health insurance but her pay will be much higher than it is with her current job.
I guess my question is, what would be the most reasonable decision financially for us? Do we change insurances now, and then change them again in May. We'd have to take an immediate $2500 hit though for the procedure. Do we keep marketplace insurance, and deal with paying back a few months of the subsidy next year at tax time so we can keep our current plan? Subsidy is around $440 a month. We would change to her new company plan in May. I also fear, if something were to happen to her future job, we'd be stuck with our Marketplace plan without a subsidy. Apologies I'm sorta new to all of this stuff.
Some numbers below (both plans have similar OOPMAX)
Market place plan: Premium $470 a month w/subsidy; without subsidy $910
Current Employer plan: Premium $650 a month
May Employer Plan: unsure as of yet
submitted by /u/Commercial-Age-2268
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