Opt Out Option

I got the official okay that I can opt out of my healthcare for the remainder of the healthcare year. For my union, our healthcare year runs from October 1 to September 30.

Starting in January and with my January 30 paycheck, I will not have to pay for health insurance for the rest of the year. Until I actually receive that paycheck, I have no idea what that will do to my monthly take-home pay. I’m hoping that it will increase it by a good chunk!

I am still paying for my dental, vision, and life insurance to the tune of $229 a month, but I am no longer paying for health insurance. We are insured through The Husband’s work for our health benefits.

As everyone knows, health insurance is so confusing. If I’m reading everything correctly, I think I will only save about $100 a month, which doesn’t seem right, but that’s how the numbers look. Just like with my retro check, it’s a waiting game to see what my check will really look like. No matter what the outcome is, the extra difference will be sent towards our credit card debt. Our goal is to be out of credit card debt by the end of next year, so December 2019, and this is one more step to help us get there.

Our union has never been able to opt out of healthcare before which I have always hated. Between The Husband and me, we are double covered and his is way cheaper for the same coverage. I’m super excited that I get to opt out; even if only for a year. I will have to reapply next September and hope that I am one of the lucky 20% that is able to opt out of coverage.

Because we are covered by The Husband’s employer, I have always felt like having to pay for healthcare through my district is extortion! At least I have a small reprieve in having to pay for it! And hopefully the difference in my paycheck will be noticeable and help speed up our debt free date!!!