After examining my situation, I’ll be passing on purchasing health insurance for 2014. As a single male under 26, none of the options available to me are tenable. 

Dependent on parent’s insurance

My mother’s insurance is provided through her employer. Though we have attempted to apply, the insurance provider cannot verify which plan she has and what the definite cost per month would be to add me as a dependent. Further, her employer is not yet certain whether he will continue to provide health insurance to his employees.

Insurance through my employer

My employer offers health insurance to part-time employees like me. The cost is adjusted (upward) based on what FTE the employee works. For me, the monthly premium becomes nearly an entire two weeks’ pay each month.

Individual insurance through the exchange

Well, I’d have more to say about this if I could have actually used the exchange, but based on a quick estimate from Blue Cross Blue Shield, I’d be paying a minimum of $175 per month. Based on my household income, I’m not eligible for tax credits or assistance.

So what it comes down to is that none of my options are capable of squeezing into my budget, and all of them are significantly more expensive than paying the annual penalty.