COBRA vs ACA Decision Guide
Losing coverage, for whatever reason, is tough. Worrisome. You could be laid off, you could hate your job, you could be kicked off Medicaid.
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You need to know how the numbers work, this is complicated stuff. I have written research notes on it, I travelled to enemy ground (Columbus OH) to speak at a national conference on it. It is still very unclear whether or not Acme Wealth Management understands it (actually, it is clear to me that AWM does not, I’m trying to play nice, you can call me Mr. Nice). This fact is crazy to me, since asset location (qualified or non qualified funds) will swing around these numbers by many times more than your broker’s choice of GM vs Ford stock. That will be trivial compared to the financial differences revealed. It is truly the wildest thing of all, how much more time is devoted to stock A vs stock B and the actual financial difference, compared to not understanding the monetary difference that I have stated 6.3 trillion times here on this newsletter. Stunning, comical, sad: we live in a world where many things can simultaneously be true.
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You need to know the timing of when you must decide. The rules are in your favor, no doubt. The windows don’t stay open forever.
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This is a wake up call to see the numbers in front of you. This is not the same as the actual process of policy selection and execution of applications. Leave that with us, it costs nothing.1
Looks Like a Fold, Barks Like a Fold…
Guess what? It’s a fold. I didn’t say it was wrong to fold. I stated here on this newsletter that it was correct to fold. Sometimes, enormous errors are made, like overconfidence bias, you can get a PhD on the topic alone.
You could be Ryan Day, and stick to the same bad plan (running up the middle at 2 NFL first-round draft picks) and not change.
At least that did not happen here. That doesn’t mean it’s over: financially-stretched people do not have the money or time, while interest on credit cards is 25%.
ACA and SNAP cards? You’re next on the block, and in the absence of crystal ball, TikTok and social media will start telling the tale to y’all. I don’t need a crystal ball to foretell that.
The exception can be that we may charge a one-time fee to resolve the asset location and timing matters of your savings and investment strategy. It is $400, and for the first 10 people that take our offer, it is 25% off.
#COBRA #ACA #Aid