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private health insurance - family of 5

private health insurance - family of 5

Old Sep 19th 2012, 9:36 am
  #31  
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Default Re: private health insurance - family of 5

If you can wait until 2014 and Obama is re-elected, the health care exchanges for people without employer provided health insurance will be in operation which guarantees health care coverage (pre-existing conditions are not considered so everybody pays the same price depending on age) at a reasonable price. The plans in the program are supposed to be very good with low deductibles and low co-pays when the program starts.

The following link provides the expected cost in 2014. There are only options for single or a family of 4 so use the family of 4 and add a little for the 3rd child. Use 401% of poverty level (no government subsidy for people making over 400% of poverty level).

http://healthreform.kff.org/SubsidyC...spx#calcParams
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Old Sep 19th 2012, 10:29 am
  #32  
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Default Re: private health insurance - family of 5

It all depends where you will live would help folks assist with possible costs, salaries, etc. One idea is to consult with a S Florida based CPA who works with self-employed folks...they'd be able to run some numbers for you based on what community you plan to live. Also depends where in Miami you wish to live. Star Island...Coral Gables... Big difference to north areas of Miami!

Plus we can't know your lifestyle....private schools? Whole Foods shopper or Walmart shopper?

So it's difficult to give a suggested ball park salary to support a family of five. Also try city-data.com for the area you are looking at.

Last edited by Bomjeito; Sep 19th 2012 at 10:34 am.
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Old Sep 19th 2012, 10:37 am
  #33  
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Default Re: private health insurance - family of 5

In Miami. Job is on Key Biscayne, but we'd rent somewhere on mainland. No schools, no child care.
We like comfort, but also know how to get a deal and what's worth paying more for and what is absolutely fine at the cheaper price! Just looking for a ballpark figure really. Thanks!
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Old Sep 19th 2012, 11:13 am
  #34  
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Default Re: private health insurance - family of 5

Originally Posted by pipm1979
In Miami. Job is on Key Biscayne, but we'd rent somewhere on mainland. No schools, no child care.
We like comfort, but also know how to get a deal and what's worth paying more for and what is absolutely fine at the cheaper price! Just looking for a ballpark figure really. Thanks!
Median household income in FL is around $50k, with 3 kids I'd want to be on at least $100k/years as $20k should be set aside for health care. Obviously that number will vary depending on your lifestyle and where you live, but a bare min would be $100k. You will have to figure out the details of your wife's contract as if she is responsible for all of payroll taxes like FICA it will make a big difference. Also you have to consider things like state and local taxes, rent or property taxes etc.

Last edited by nun; Sep 19th 2012 at 11:27 am.
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Old Sep 19th 2012, 11:15 am
  #35  
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Default Re: private health insurance - family of 5

Whew, Key Biscayne is pricey for home rentals - so mainland it is! My friend is a lawyer and makes about $250k. He rents a place in Coral Gables for $3700 a month; 3 bed, 2 bath - about 3000 sq feet. He's single, however.

Here in the US, we are drilled from childhood to pay about 25% of net salary for housing (which isn't easy to do in many US metropolitan areas). Miami single family home rents are not cheap; but then again, we don't know what salary is being batted about for your wife.

I'd get onto the Miami forum for city-data.com. People are pretty honest about their thoughts and opinions.

I've not stayed longer term in Miami for years, but when I looked at jobs and relocation there about 5 years ago, as a single person, I knew I'd not be comfortable at anything less than $80k. (I'd be wanting a mortgage, not a rental payment.) If I had a family of 5 - just ballparking - I'd say $175k? That is take home of about $135k after federal taxes. (Then deduct healthcare, self-employment taxes, property taxes, car insurance, etc.) - so say you have $110k to live...or about $9500 a month disposable...hmm..maybe that is a bit low for comfortable living (it would work fine in Houston...Miami is more expensive than Houston, where we live.) But you get the idea. I don't think you'll find a house to rent for 25% of this scenario's monthly disposable in nicer areas of Miami. Plus don't forget your one-time arrival costs - deposits on utilities and rentals, buying cars, house furnishing. Its a chunk of change right there, right off the bat.

JMHO, but I think the folks on city-data could be of huge assistance to you!
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Old Sep 19th 2012, 3:24 pm
  #36  
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Default Re: private health insurance - family of 5

Originally Posted by justice4trayvon
sadly the NHS is not a sustainable model long term and I already see rationing by stealth.

Some form of direct user contribution is inevitable I feel in the long term
Strangely enough we have another member who keeps coming on here under different guises posing as a doctor and saying the same thing.
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Old Sep 19th 2012, 4:05 pm
  #37  
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Default Re: private health insurance - family of 5

Thanks bomjeito. That website is really helpful! I think we'll be ok on wife's wage. Especially as we never go out and tend to do family outings that don't require spending a lot of money. It's just the healthcare expense which is an unknown, but well try and work that out.
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Old Sep 19th 2012, 4:06 pm
  #38  
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Default Re: private health insurance - family of 5

Ps - the NHS is sustainable, but only if the gov supports it rather than try to destroy it.
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Old Sep 19th 2012, 5:02 pm
  #39  
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Default Re: private health insurance - family of 5

Originally Posted by justice4trayvon
sadly the NHS is not a sustainable model long term and I already see rationing by stealth.

Some form of direct user contribution is inevitable I feel in the long term
And the US model is sustainable?

All health systems ration in case you haven't noticed. Well, for those who aren't in the 1%.
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Old Sep 19th 2012, 10:57 pm
  #40  
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Default Re: private health insurance - family of 5

And BTW - if you are going the private insurance route, when you get car insurance I strongly suggest you opt for lots of uninsured motorist protection (which covers any of your medical injuries that your main medical insurance might exclude - depending on policy and deductibles - if you are in an accident with an uninsured motorist). Some 20% of Florida drivers are uninsured - in Miami, even higher. And a tip - how do you tell an illegal immigrant in Miami? They stick to the speed limit so they don't attract the attention of the cops. Everyone else just tears around without regard to the speed limit.

Miami gets a bad rap, but don't tell anyone, there are actually some rather nice neighborhoods. My daughter lives in Coral Gables which is rather pricey but very nice.
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Old Oct 4th 2012, 3:31 am
  #41  
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Red face Re: private health insurance - family of 5

Hi!

Im just looking to move to Miami from Sydney ( Brits but been in Australia for 10 years) with husband and 2 kids under 6 as well!
Would be for about 2-3 years I think for my husbands job - oldest boy is about to start school so would have to start out there
Just returned from my first trip out there for a look - looks crazy! so feeling rather reluctant ..
Are you still going - and if so - what area are you looking to live?
cant seem to see theres much of a expat population out there...!
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