Health Care Prior to Medicare?

[stumblinhorse]

I am being sent into retirement here in a couple of weeks. Insurance options around me for a high deductible plan for me and my wife start at $1800 a month. I am just gonna go without. At the end of the day a plan like that is about $26k single or $33k married, out of pocket before they pay for really anything. That math doesn’t add up for me.

 

[airbiscuit]

Interesting post. I have to decide this very thing by Friday as I retired last week at 57.

I think I've narrowed down to Christian Health Ministry (CHM) or Philadelphia American.

A lot of the smaller stuff we'll just pay for which works out to be about what my deductibles were costing me anyway with insurance through work, such as prescriptions, eye exams, and dental cleanings.

These plans are really just to cover major illness or hospitalization.

Cobra for us was way too expensive and the Insurance with the school system my wife works for is as well.

Watch the fine print on Christian Health Ministry, speed of payment or lack of payment.

 

[dmccarty]

I am being sent into retirement here in a couple of weeks. Insurance options around me for a high deductible plan for me and my wife start at $1800 a month. I am just gonna go without. At the end of the day a plan like that is about $26k single or $33k married, out of pocket before they pay for really anything. That math doesn’t add up for me.

The wifey and I have been talking about going without as well.

Unfortunately, our family had quite a few hospitalizations and surgeries a couple of decades ago. This lasted for say 10-15 years, but thankfully, this has eased up quite a bit in the last decade or so. I don't know what my company was paying for healthcare that far back in time, but I think a good, low guess would be $15K for their contribution and our premiums. Adding our out of pocket would certainly have been another $5K per year. Easy.

I know the company contribution and our contribution are now around $30K.

So a minimum, low number of how much we have spent on health care of the last 25 years is between $375,000 to $500,000! I think the number is closer to $500K than $375.

Even with all of surgeries and hospitalizations, I don't think we spent anywhere near that amount of money.

To pull that back to today, your numbers are similar to what we are seeing though a high deductible plan is not as expensive. Which then begs the question, does one roll the dice and go without?

We have negotiated prices down with health care providers so maybe that is what one should do. We have shopped around for services, like MRIs and found HUGE price differences.

 

[stumblinhorse]

Most people will tell you that most clinics will negotiate their fee with you if you are paying cash. That is my plan. I won’t sign up to pay $26k in premiums and then $10k out of pocket just in case. And then get really nothing in return. I am 57yo this year…. I have been to the doctor 1 time in the last 24 months…

 

[dmccarty]

Most people will tell you that most clinics will negotiate their fee with you if you are paying cash. That is my plan. I won’t sign up to pay $26k in premiums and then $10k out of pocket just in case. And then get really nothing in return. I am 57yo this year…. I have been to the doctor 1 time in the last 24 months…

I would suggest getting blood work done including having your vitamin D level checked. It is not expensive and provides a clue as to future health problems. Adequate levels of vitamin D will lower one's risk for respiratory illnesses. I was exposed to the pandemic virus multiple times and never got sick. Getting the second vaccination kicked my a.....s.

Visit to the dermatologist are every 12-18 months to make sure there aren't any problems, and if so, to catch them early. Way too much sun exposure, especially when I was a kid and younger so getting things check is cheap, well, insurance.

I wish I had gotten a cardiac calcium scan years ago to establish a base line. Mine is ok but I wish I had the scan years ago. I had to pay out of pocket since insurance would not cover it......

 

[stumblinhorse]

I would suggest getting blood work done including having your vitamin D level checked. It is not expensive and provides a clue as to future health problems. Adequate levels of vitamin D will lower one's risk for respiratory illnesses. I was exposed to the pandemic virus multiple times and never got sick. Getting the second vaccination kicked my a.....s.

Visit to the dermatologist are every 12-18 months to make sure there aren't any problems, and if so, to catch them early. Way too much sun exposure, especially when I was a kid and younger so getting things check is cheap, well, insurance.

I wish I had gotten a cardiac calcium scan years ago to establish a base line. Mine is ok but I wish I had the scan years ago. I had to pay out of pocket since insurance would not cover it......

Did all that as soon as I found out I was getting laid off. That was my one visit. Still with health coverage the bill was almost $1k. So should be good till 2026.

 

[CloverKnollFarms]

Depending on your income, you may be put on Medicaid.

 

[Bearsixty7]

Watch the fine print on Christian Health Ministry, speed of payment or lack of payment.

I have a classmate that uses them and they have been really happy with them.

 

[bigtiller]

Be thoughtful when deciding to go without health insurance. Below is a December and yearend report from our insurer for just Mrs.tiller. Note the dollar difference between columns titled billed and plan paid.

She had a dislocated shoulder this year but everything else was mostly for maintenance and Chronis treatment. Ageing brings medical surprises, stay prepared.

 

[ning]

and don't be surprised if some future changes bring back denial of coverage due to preexisting conditions (prohibited with the ACA, but some people hate that), so assuming you can always get insurance later isn't necessary a truth because that "later" insurance may not cover the big ticket issues plaguing you then.