One of the biggest concerns early retirees have is the cost of healthcare. It is estimated that the average annual healthcare premium is roughly $19,600, largely subsidized by the employer.
We currently pay about $1,750 a month, or $21,000 a year in healthcare premiums for a family of three for a no-deductible platinum plan despite both of us being healthy with no pre-existing conditions.
Before the birth of our son in 2017, our healthcare premiums weren’t much cheaper at roughly $1,625 a month. In a way, we feel slightly better paying a higher premium because we feel we are getting more of our money’s worth with all his pediatrician and ophthalmology visits.
But just like how paying $23,000 a year in property tax for an old rental property made me want to sell, paying $21,000 a year in healthcare premiums makes me want to eat a lot of jelly donuts, sleep in more, and stop working so much.
Let’s see if there’s a better way for all of us to get healthcare subsidies, even if we have millions of dollars in assets.