$3000/mo cruising budget - Page 51 - SailNet Community
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post #501 of 628 Old 11-18-2015
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Re: $3000/mo cruising budget

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Originally Posted by cthoops
We have no intention of paying for U.S. health insurance once we leave the U.S. We're either going to self-pay or get a global plan which is quite reasonable because it doesn't cover care in the U.S. As long as you're out of the country for 330 days out of each calendar year, you won't get hit with the ACA penalty.

If something major happens to one of us, we'll deal with it in the country we happen to be in at the time. Paying for U.S. health insurance when we aren't in the U.S. would take quite a bite out of our budget.
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Originally Posted by Don0190 View Post
Do you have a budgeting number for that?
We're a few years away from heading out, so I haven't done any nitty-gritty research, but I've found quotes for global coverage excluding U.S. for $150/month for the two of us. The devil will be in the details, of course, but at least it gives us a rough idea for now.

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post #502 of 628 Old 11-19-2015
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Re: $3000/mo cruising budget

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Originally Posted by cthoops View Post
We're a few years away from heading out, so I haven't done any nitty-gritty research, but I've found quotes for global coverage excluding U.S. for $150/month for the two of us. The devil will be in the details, of course, but at least it gives us a rough idea for now.
As I think about it, does anyone have experience using global insurance in multiple countries? I've only had US insurance, but it can sometimes be a hassle to find the right covered doc/hospital in the same country. Secondly, how do you deal with a denied claim? I just pick up the phone, but I'm thinking you could have an international phone call on one's hands.


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post #503 of 628 Old 11-19-2015 Thread Starter
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Re: $3000/mo cruising budget

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I

We have developed three budgets:
Good detail and cost break down. This is what I find missing from most low budgets, details.

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post #504 of 628 Old 11-19-2015
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Re: $3000/mo cruising budget

hpeer

I am in Philadelphia. I keep trying to retire but get sucked back in again.

If you have rental income in Philadelphia then I assume you will be filing a BPT/NPT tax form with the city each year and also PA tax, so it is not possible to completely escape.

My income producing assets are also in Philadelphia so I am all to familiar with the tax structure, including dividend and interest tax.

Home state for boat and taxes needs a tax professional to figure out.

My boat is so cheap it does not really matter if I keep it in PA or DE, but Delaware as a home state would be a huge advantage.

Leaving the US or Philadelphia permanently, is not something I am interested in. US citizens outside the US are still required to file taxes on both US and global income, and are not required to have a home state, but pay taxes to the state or states where the income producing asset is located.

So my budget for summer cruising includes cost of managing assets, healthcare, good wifi or 4G and return to Philadelphia when needed about $3,000 to $5,000 per month. I also teach design part time in the winter and that is just to much fun to give up.
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post #505 of 628 Old 11-19-2015
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We've been researching offshore health insurance and have found very good policies for around $400 per month for a couple. The only kicker is you cannot be in the USA for more then 35 days per year but you can be treated in the USA. Ideally we had planned on only buying catastrophic coverage and paying regular medical expenses out of pocket, Obamacare killed that. So, well spend less time in the USA, oh we'll.
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post #506 of 628 Old 11-19-2015
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Re: $3000/mo cruising budget

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Originally Posted by Minnewaska View Post
A chest x-ray with a physical. Hope you don't have a specific need for it, that's a lot of radiation.
Don't you spend all day up in the air sucking up cosmic rays?? :-) Chest x-rays these days are digitally sensed and processed and use much less radiation. Cat scans on the other hand.....

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post #507 of 628 Old 11-19-2015 Thread Starter
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Re: $3000/mo cruising budget

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We've been researching offshore health insurance and have found very good policies for around $400 per month for a couple. The only kicker is you cannot be in the USA for more then 35 days per year but you can be treated in the USA. Ideally we had planned on only buying catastrophic coverage and paying regular medical expenses out of pocket, Obamacare killed that. So, well spend less time in the USA, oh we'll.
As long as you can come up with the minimum income in order to qualify for a subsidy (like withdrawing from a 401K) you can ACA Silver plan for $31/mo, or a Bronze plan (major medical with BIG deductibles and co-pays) for $0/mo.

I'm think it may be possible to have health insurance CHEAPER in the USA than not. This is 180 degree shift in my thinking from when I put myself on this cruising dream path.

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post #508 of 628 Old 11-19-2015
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Re: $3000/mo cruising budget

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Originally Posted by Shockwave View Post
We've been researching offshore health insurance and have found very good policies for around $400 per month for a couple. The only kicker is you cannot be in the USA for more then 35 days per year but you can be treated in the USA. Ideally we had planned on only buying catastrophic coverage and paying regular medical expenses out of pocket, Obamacare killed that. So, well spend less time in the USA, oh we'll.
You can pay for an awful lot of healthcare for almost $5000 a year. In our travels we spent about $7000 for care after my major hand injury in South Africa. Dare in the public hospital would have been free but nearly as good. This included four nights in a very posh private hospital, surgery, daily therapy on the hand. Other than that, and it certainly might not have happened, we spent about $200 in total including a fair bit of care of an infected boil in French Polynesia and Fiji. A visit to the private hospital doctor in Fiji cost $6. Did not find out how much the public hospital was.

I think most Americans have gotten so used to how much things cost in the US that they don't realize how cheap it can be elsewhere. Remember that the company offering $400 a month coverage is making money. If someone is healthy, self insurance is the way to go - so long as you have money in an emergency kitty - the $400 could help build this up for any emergency (or semi-emergency) like a major repair to something.

After the refit we have decided to sell Ainia. We want something smaller that would be could for the light summer winds of Lake Ontario, although we plan to spend at least a couple of winters in the Caribbean before heading north.
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post #509 of 628 Old 11-19-2015
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Re: $3000/mo cruising budget

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Originally Posted by killarney_sailor View Post
I think most Americans have gotten so used to how much things cost in the US that they don't realize how cheap it can be elsewhere. Remember that the company offering $400 a month coverage is making money. If someone is healthy, self insurance is the way to go - so long as you have money in an emergency kitty - the $400 could help build this up for any emergency (or semi-emergency) like a major repair to something.
This is our approach ... except when we're travelling in the USA. This is the only country where health costs scare me. I honestly don't know how my American friends manage it, even with Obama's apparent improvements.

KS's approach is one we take for most insurances. Take the money you were going to spend on insurance and tuck it away in the emergency kitty. Makes living, and cruising, to whatever budget you set a lot more achievable.

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post #510 of 628 Old 11-19-2015 Thread Starter
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Re: $3000/mo cruising budget

As someone who has already seen a $50k hospital bill; if you feel you can do without go ahead and do so. But it will be too late when (not if) that bill comes due.

BUT, the thread isn't about health care costs other than it being part of the cruising budget. It that it may be less expensive to stay in the USA with an ACA plan than go somewhere else. It would be helpful if some on the many many many USAers cruising would post their health insurance costs. But I've kind of given up on getting that info.

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