Quote:
Originally Posted by RickFLM4
$500/year is much, much less expensive than you will pay for a private policy. I’d shop around and see if there is a product you like without regard to mandates. If there is, great - get it. If not, pay the $500 / year and think of it as an extra tax that may or may not provide a benefit down the road. It’s not much to throw away if you decide to leave the state.
Not sure what benefits the state plans on paying but $500 / year sounds like they are about to dig a crater in the long-term state budget.
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Our CFO passed on a 3rd party option to me that he investigated for himself. He's my age and demographic and was quoted $800 a year. But it was a weird "off-brand" company Ive never heard of.
I've got till November to decide so I'll do some shopping around and talk to our portfolio manager. My folks (who just retired) have an estate/retirement planner so I think I'll sync up with her as well to get another data point/opinion. But it's really sounding like I'll probably just suck up the $500 a year for a while as an added tax, then drop the state plan and pick up an independent one when I'm closer to retirement.
Thanks again all for the great input!