Let's suppose for a moment that you actually could buy health insurance through Obamacare's state and federal government-run exchanges. How high would your health care expenses have to be to really justify buying that kind of insurance?
Previously, when we asked if you even need health insurance, we identified a number of situations where having health insurance would be most beneficial to you (Sean Parnell adds to that discussion here). All the scenarios came down to one basic reality: buying health insurance is most worth doing when you can reasonably expect to have high health care expenses in the next year.
So today, we're going to identify the level of health expenses you would have to have before you could obtain the maximum benefit of having health insurance - when you reach your annual limit for out-of-pocket expenses! This is the level at which all your major health care expenses beyond that point would be paid for through your insurance coverage.
Just enter or select the appropriate data in our tool below, and we'll give you better information than you could ever hope to get from the dysfunctional Healthcare.gov web site! Please click here to access a working version of this tool!
Note: Per President Obama's choice to deny consumers the protection of an out-of-pocket limit for insured health care expenses in 2014, you may want to enter a very large number like $1 million for this figure. The other figures may apply in 2015, unless President Obama once again chooses to favor the interests of his crony insurance corporations over consumers.
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