Wife said what?!?!

[MoKelly]

It is a problem for sure. I retired at 62 and got on Christian healthcare. $300 a month. It is not exactly insurance, but it meets the Government requirements. It is a "cost sharing" of Christians helping Christians. It does work. The wife had several claims against it. You have to do some of your own work on claim filing. Not as easy as having someone doin it for you. In any case 65 comes pretty quick. Quicker than you might think

For me like in 5 months!

The wife still has a way to go but that’s OK.

MoKelly

 

[Steppenwolfe]

I think this is the biggest internal problem the US faces as a country. Yet, I never hear one peep about it in the media.

If you don’t have employer sponsored health care and you are middle class, you are in a real jam - either pay lots of money to get coverage or go without.

I do believe it’s a huge factor (has to be #1) why people cannot retire before Medicare eligibility. Who can retire at 62 and pay $30,000/year for health care? Not unless you have lots of extra money.

MoKelly

It's a huge problem... even with politics aside. God forbid something happens and you don't have insurance. I believe it is the number 1 reason for bankruptcy's...

 

[MoKelly]

It's a huge problem... even with politics aside. God forbid something happens and you don't have insurance. I believe it is the number 1 reason for bankruptcy's...

I would agree.

MoKelly

 

[bironacad]

Wifey and I are 62; no immediate plans to retire, as I love my job. But... Our Blue Cross / Blue Shield is almost 2500 bucks a month. Yep... 2500. And we are healthy. Thank God I can write it off 100% through my business.

Just had three hernias taken care of on Ohip! Last Tuesday, ugh. Sometimes good to be a pinko, lol. Wait 2009 triple bypass and last year a knee replacement. We do pay taxes but am grateful for government insurance.

 

[lpakiz]

As far as health care costs in retirement:

pre-65 it is costly to buy your own insurance.

Once you turn 65 (Medicare) you are home free.
Medicare will deduct $130? from your monthly SS check.
My supplement at age 71 is an additional $130 (more or less) and my drug plan (Part D) is $16-20 per month.
We have NO deductibles or co-pays (in network) and our normal prescriptions (chlorestoral, blood pressure, etc.) also have NO deductibles or co-pay. If you have more prescriptions or more costly prescriptions, the Part D will probably be more, or there may be more or higher deductibles or co-pays. Our agent reviews our meds every year and enrolls us in the most advantageous plan. There was only one change since I turned 65, so even this is not a huge concern.

The supplement premium will rise slowly as I get older.
The prescription (Part D) may also change if you develop cancer, diabetes, heart issues, or some other extraordinary issue.

So, I do not see medical costs to be a problem at this time.
Long-Term Care costs (nursing home) is a concern, tho.

 

[Frankenkubota]

Just had three hernias taken care of on Ohip! Last Tuesday, ugh. Sometimes good to be a pinko, lol. Wait 2009 triple bypass and last year a knee replacement. We do pay taxes but am grateful for government insurance.

I would agree.

 

[3Ts]

And the primary reason to have health insurance is to get the negotiated rate for services. For example, I had a procedure done where the facility charged $1000+ and the negotiated amount with the insurance company was $106.

But, yes, the $30k is a bit much for insurance.

 

[Frankenkubota]

Seems to me, if you get real sick you are better off with either great insurance or no insurance?

2 buddies I play bluegrass with have just had major operations, cancer and heart work. Both in their early 60s.

Neither had insurance but both got new F150s, leased.

I couldn't believe it but they came right out and said it....if you pay about $10 a month there's nothing they can do to you.

There are a lot of folks in that boat with the same philosophy.

Socialized medicine? While training in Italy in the imaging business I learned, if your condition is not an emergency, you wait 6 months for a mri scan.

That is, Unless you can afford to go to one of the many private, all cash clinics. Rich folks always seem to come up with a work around?

 

[KennyG]

Wifey and I are 62; no immediate plans to retire, as I love my job. But... Our Blue Cross / Blue Shield is almost 2500 bucks a month. Yep... 2500. And we are healthy. Thank God I can write it off 100% through my business.

If you are in reasonable health you should review your options. A high deductible policy under the ACA with BC/BS should be much cheaper. My wife's Bronze Saver policy has an $8500 out of pocket limit and costs about $850 per month (1 person).

 

[MoKelly]

And the primary reason to have health insurance is to get the negotiated rate for services. For example, I had a procedure done where the facility charged $1000+ and the negotiated amount with the insurance company was $106.

But, yes, the $30k is a bit much for insurance.

Yes. Isn’t that interesting.

Here, if you are uninsured, hospitals charge you 25% of the “list”. So, in your case the patient who is uninsured would pay $250.

Not as good as you but then again the uninsured pays no premiums.

I am still unsure where those “list” prices come from - or what they really mean?

MoKelly