My accountant told me to just pick the cheapest bronze plan and it cost me $2,300

My CPA Dave said last December to just go with the cheapest bronze plan on the marketplace since I'm healthy. Well I broke my ankle in March skateboarding and the deductible was $7,200 before they cover anything. Had to pay for the entire urgent care visit and X-rays out of pocket. Anyone else get burned by going with bare minimum coverage?

3 comments

3 Comments

lee.cora8d ago

Did your CPA also tell you to buy the cheapest tires for your work truck? I learned that lesson the hard way when I went with the bargain bin option and ended up sliding through an intersection in the rain. Sometimes a few extra bucks upfront saves you a world of hurt later on.

the_lucas9d ago

Man, that CPA gave you terrible advice. The bronze plans are basically a scam for anyone who might actually need to use their insurance even once. I did the math on mine and the deductible plus the monthly premiums actually came out higher than just paying cash for a silver plan with a lower deductible. People forget those silver plans also have cost-sharing reductions if your income is under a certain threshold, which knocks down the deductible even more. Your CPA was probably just looking at the monthly number without checking how it actually works in practice. Hope you're healed up now though.

park.aaron9d ago

The CPA's advice sounds like it came from someone who's never actually had to use their own health insurance. Reminds me of those folks who say you should buy a car based on gas mileage alone and forget about everything else. Hope the OP learned that the cheapest option up front isn't always the cheapest in the long run.