Opt Out

For the first time this year, my district is offering the possibility of opting-out for our insurance plan.

Currently, I buy the lowest insurance through my district (as we use The Husband’s insurance, but have no option to opt-out) and I pay a little over $500 per month. This insurance cost includes vision and dental. We do use my vision and dental plan as we opted to not buy that through The Husband’s work.

Only 20% of our union is going to be allowed to opt-out. If more than 20% apply, we will hold a lottery to determine eligibility.

I’m going to apply to be able to opt-out. If I am able to do so I will use all the extra money to accelerate our debt pay-off.

I would still buy our vision and dental plan through my district. Those run about $200. That would allow me an additional $300 a month to send to our credit card. By increasing our debt payment by $300 per month, we would be able to get out of credit card debt 6 weeks earlier.

In the grand scheme of things 6 weeks doesn’t sound like much, but 6 weeks is 6 weeks. It’s 6 weeks less of debt payment. It’s 6 weeks less of interest paid on debt. It’s 6 weeks less of worry. It’s 6 weeks!

Hopefully I get selected in the lottery and I can opt out!

Wish us luck!