Question: In 2014 I can retire at $33K per year for my wife and I. Me 57yrs and her 55yrs. Do you have an approximate monthly premium cost chart for a family of 2? I saw one for a family of 4 but even the Kaiser calculator does not have one for a family of 2.
Answer: An annual taxable income of $33,000 for a 2-person family is equivalent to about 200% of the Federal Poverty Level (FPL) in 2014. Assume that your monthly unsubsidized premium is estimated at $700 for a Silver Level Coinsurance Plan ($1000 deductible, 70% coinsurance, and $5,500 maximum out of pocket). Applying the same subsidized percentage as the 4-person family, your subsidy will cover 80% of your premium, leaving you with a net monthly cost of $140. (I’m estimating but I’m not too far off.)
In addition to the premium subsidy, you will qualify for cost-sharing reductions. What that means to you is lower out-of-pocket maximums - $2750 rather than $5500 - giving your plan an actuarial value of 79% rather that 71%.