gloopy

If so, they can always impliment a progressive dues rate due to mathmatical actuarials, just like some other benefits.

m3113n1a1

The thing I'm starting to think for myself (and probably anyone else who has been here for 5-10 years), at that point most guys should have enough savings to basically self insure that 1 year that would be paid by DPMA benefits. Maybe making it beneficial to opt out at that point? I haven't ran the numbers or anything, but just a thought.

FangsF15

I paid just over $3k to DPMA this year, and had a pretty respectable year as a NB Capt. My current FAE is over $38k, So DMPA would pay me nearly $10,000/month (tax free). Trading $250/mo for a $10,000/mo benefit (tax free) should I lose my medical again is a phenomenal deal. Granted, not every DMPA claim goes for 365 days, but I don't think "self insuring" that amount is feasible, even now as a Capt. it would take you 20 years to bank even half of 1 of your 2 years of usage.

Maybe I am biased, having 2 separate usages of DMPA, but I'm sure glad I had it. I aslo do ALPA's supplemental insurances, which have already paid for themselves for my career already.

captkdobbs

Same here. When it goes away, a yellow 'auto saved' pops up in the lower-right corner. What's up with that?

Also, the emojis button in the editing bar just pops up an empty box. Where's my emojis? :-(

Gone Flying

Is there an easy way to see what your FAE is? Or did you just do some math?

Scoop

We are aware - working on it. Very annoying- it affects us also.


Scoop

ancman

When you multiply that $3k / year (soon to increase) over the course of a 30-40 year career, and consider compounding, the amount saved rapidly approaches the benefit amount.

If you self-insure and never have a DPMA-qualifying event, you come out ahead. Even if you do, you come out even or possibly ahead if the money is well-invested. The only way to come out behind is by having a major medical issue early in your career that results in a long-term or permanent grounding. That’s where individual savings and risk tolerance comes into play.

Whoopsmybad

But your basis of 30-40 year career is flawed, there are many being hired, yes even still today, that have nowhere near that amount of time.

ancman

I’m not suggesting that self-insuring is best for everyone. I’m simply saying that for a certain group it makes sense. The size of that group will increase with any increase in premiums, which could mean trouble for DPMA in conjunction with age 67.

FangsF15

Not that I know of. Just did the (quick/easy) math.

Well, my career here will be just under 23 (25?) years, at most, so... Keep in mind, you get up to 730 days of coverage, so roughly double your numbers to fully cover the gamut.

If, if, if…. Assuming a lifetime of unencumbered accumulation is unwise. If anyone knew they would go through (even the majority of) their career without needing DPMA, they wouldn’t need it in the first place. Same with home/auto insurance. Or life insurance. Or health insurance, for that matter. They are all vehicles to protect. Opting out of any of them is pretty enormous risk, IMO. Think of all the money you could save by ditching all insurances, and just creating a fund!! Unless you get ‘hit’ before 30 years, then you’re screwed.

Bottom line, DPMA is cheap insurance, with a potentially critical payoff if you need it. But to each their own.