A Friday Chat About the Rising Cost of Health Insurance

NICOLE: Hey, who are we chatting with today?

NICOLE: I guess it’s just us—or just me—this week. We’ll have the usual two-person Billfold chat next week, though!

NICOLE: Cool. We can do this. Happy Friday!

NICOLE: Happy Friday!

NICOLE: What do you want to chat about this week?

NICOLE: THE RISING COST OF HEALTH INSURANCE.

NICOLE: Ugh. Do we have to?

NICOLE: I cannot believe my premium will be $395.94 next year. For a BRONZE PLAN. It’s like, I can afford to pay that extra hundred bucks every month, it won’t be a huge deal, but that’s still $1,200 worth of stuff (or savings) that I don’t get to keep.

NICOLE: Technically $1,234.32.

NICOLE: Right. Always do the math.

NICOLE: I am seriously asking myself whether it would be better to forego health insurance and pay the fine, even though I know all of the reasons why that is a terrible idea, INCLUDING THE REASON that it would make Trump happy.

NICOLE: If you want everyone to have affordable health insurance, you have to buy health insurance. That’s how it works.

NICOLE: But it’s not faaaaaaaair! I’m going to have to earn an extra $2,050 just to cover the cost of my insurance premium increase, since I only spend 60 percent of what I earn after putting 25 percent towards taxes and 15 percent towards savings!

NICOLE: You say that stuff about putting percentages of your income towards taxes and savings a lot.

NICOLE: I have to explain it to the new readers.

NICOLE: Well, you should also explain that you get the self-employed health insurance deduction.

NICOLE: I’d rather explain that $1,234.32 is, like, as much as I spend on six months’ worth of food!

NICOLE: Then you’re lucky you don’t eat a lot of expensive stuff. You’re also lucky that you don’t have a lot of actual healthcare costs. You could be spending a lot more on doctor’s visits and prescriptions, and you know it.

NICOLE: So are you saying I should feel okay about this?

NICOLE: I’m kind of saying there’s nothing you can do about it, so you might as well look at it from a positive angle.

NICOLE: I wish I was talking to someone else right now.

NICOLE: Me too. Billfolders, if you’d like to be part of a future Friday Chat, email us at nicole@thebillfold.com.

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