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Old 02-20-2006, 01:15 AM   #1
dannyl
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Health Insurance

I am trying to get my affairs in order so that I can retire and travel.
I am only 63 (64 in September)so I would be taking early retirement and not eligible for Medicare.

What are those in my situation doing for health insurance until Eligible for Medicare?

I work in a hospital laboratory and know the costs of care and don't want to take any chances even though I am healthy.

Happy camping for those who are able to be out in this weather.

Danny
 
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Old 02-20-2006, 02:08 AM   #2
Montana_4944
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We went to E health insurance .com and found the one that would be good for us. My husband is only 55 in April so we have awhile till Medicare but we are healthy too. We are still looking at some extra coverage to get us back to Washington in case we need it. We love fulltiming and are so glad we are able to do it at this time in our lives. Good luck with your search and retirement. Yuma is the warmest place in the states so we are loving it.
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Old 02-20-2006, 02:43 AM   #3
Glenn and Lorraine
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As a veteran of the US Army I use the VA Health Care system for 100% of my health care.
All US military veterans discharged under other than dishonorable conditions are potentially eligible.

For more info go to... VA Health Care Eligibility
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Old 02-20-2006, 03:07 AM   #4
richfaa
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You did not mention if your employer offers any kind of health insurance and if so what kind of coverage does it offer.
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Old 02-20-2006, 06:12 AM   #5
dannyl
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I have full coverage while at work but the insurance is out of sight if you continue the coverage after quitting.

My wife had personal coverage for a couple of years until she reached 65. Her coverage costs about $400 a month.
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Old 02-20-2006, 06:37 AM   #6
richfaa
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From what you are saying I assume that after retirement you can take your employer Plan with you BUT must bear the FULL cost of the premium.Just for a comparison..Wife and I are both Federal Employees.. me retired she retires in Nov 1st 06. We are able to carry over our BC/BS Health plan however the Government pays about 80% of the monthly premium. Our total monthly cost of Health Insurance and Medicare for the both of us is 428.00 per month. If we had to pay the FULL cost of our BC/BS coverage it would be 428.00 per month per person + Medicare=1032 per month for the both of us. Our BC/BS plan is a pretty good one and with Medicare I have few out of pocket expenses. If your wife was paying @ 400.00 per month for a GOOD private plan that may be about average...pitiful isn't it.
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Old 02-20-2006, 08:04 AM   #7
dannyl
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Insurance is going up-up-up.
Seems like every month I hear about premiums going up, yet the payments to hospitals keeps going down. How do you figure that?

There is a proposed bill now being discussed that would take away many millions from rural hospitals and give it to the urban centers. There has been a movement for many years to close the small rural (close-to-home) hospitals and have all go to urban health centers.

I may have to buy my own personal insurance from a vendor in order to be able to retire. The insurance premium will be about 1/3 the social security benefit. Doesn't leave much for anything.
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Old 02-21-2006, 02:57 AM   #8
genecurp
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Insurance is very expensive and more so the closer to 65 we get. I have shopped for private insurance, investigated COBRA and Hippa regulations. You have insurance now. Do not let it lapse while you shop.

I woud encourage you to shop for private but at 64 don't get your hopes up. You are likely eligible for COBRA for 18 months coverage that will get you to age 65 and Medicare. Check with your personnel dept if COBRA applies to your employer. It does not apply for small business.

I am in Tennessee. Our state has a law that requires a carrier to offer you coverage when say your cobra expires, but you have to prove you were rejected for private policy. THere is no limit in the law as to what they can charge you. The going rate is around $1,000 per person per month. My point is, insurance is expensive. Your cost doesn't sound so high to me.

Remember, don't let your current coverage lapse before you have new coverage in effect.

Hope your luck is better than mine has been.

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Old 02-21-2006, 04:01 AM   #9
toolmanroy
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This is a sore subject for us as we are self-employed. We are paying nearly $900 per month between the cost of insurance and the union dues we have to pay to get decent enough insurance. Private plans are not as good as group plans. We have 5+ years to go before Medicare, and if this goes up much more we may have to sell our house to afford it. We cannot change plans even if we could afford it due to preexisting conditions. Unless you are in perfect health you don't get a decent rate. We live in an area of at least 50% retired, which means the doctors have to make up the losses from Medicare (we are in a low reimbursement area) - and guess who pays for that?
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Old 02-22-2006, 05:46 AM   #10
dannyl
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I had an idea "I don't know if my employeer will go for it", but I might go on salary,(reduced rate) with insurance continued, and only work a week or two a month, or take a month off now and then until I reach 65 which will be September 2007.

As a supervisor I have enough staff to get the "WORK" done. Federal "Medicare" regulations require supervision that only I can do with the staff we have so it might work.

Has anyone retired early and continued to work?
How much are you able to earn while drawing social security?
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Old 03-06-2006, 11:51 AM   #11
Driftwoodgal
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Insurance is something that will keep us from retiring full time. We are self employed and have watched our premiums increase each and every year. At the beginning of this year BCBS increased our rates by $250. I chose to raise the deductible in order to be able to afford coverages with a monthly rate of $864. Hubby is a veteran, I am trying to get him to apply for medical coverage through them. If we didn't have to worry about the rising cost of health insurance we would be retired now.
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Old 03-07-2006, 08:24 AM   #12
dannyl
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I have wanted to retire for a couple of years bur the price of health care insurance has broken that dream. I only have 1 1/2 years to wait for medicare. I will not let my insurance lapse until I find other coverage. A medical emergency can bankrupt you.

With the weather turning warm here I'm wanting to get back to camping.
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Old 03-07-2006, 09:15 AM   #13
toolmanroy
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Roy is also a veteran, but where does that leave me? The plan he is in now is the same amount for one, two, or family. Let me know how it turns out for you. Looks like you are in the same boat as we are.
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Old 03-07-2006, 10:21 AM   #14
TheCoachPotatoes
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For those who are 65 and on medicare, don't you still need a suplemental policy? I know medicare doesn't pay for everything. If you get suplemental coverage what does that cost?
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Old 03-07-2006, 03:26 PM   #15
kdeiss
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I have no personal knowledge about this but one of my patients told me that BC/BS has a insurance that only pays for hospital bill and the doctor while you are in the hospital, and if you need a test or x ray that MUST be done at the hospital( like a CT scan or MRI).No preventitive care(like mammograms) or Rx, or doctors office etc.Anyway, it is just like my old insurance used to be many years ago before it got so ridiculously expensive. It is supposed to be very reasonably priced. This could help bridge a gap til medicare kicks in. If you find out about it please post as we are also interested in retiring before medicare if we can get insurance.
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Old 03-07-2006, 10:49 PM   #16
bobgay
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Al and Nita, I have supplemental coverage through AARP. As I recall, they have various plans that cost from around $125 to $200 per month (for one person). The one I chose covers most everything not covered by Medicare and costs about $140/month. Cost can vary significantly depending on where you live. Don't know how they deal with fulltimers. Hope this helps.
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Old 03-08-2006, 01:19 AM   #17
genecurp
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I am 55 and can't retire next year as planned because I can't get a private health policy, so I have to hang onto my job. I was, thankfully, able to arrange more vacation time and less money with my employer

I friend here in TN, also 55 bought a BC/BS plan at age 53 with a $10,000 deductible. Cost for one person began at $100 per month and still under $200. He figures with a $10,000 credit limit on a credit card and his policy, he can get best local care available should the need arrise.
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Old 03-08-2006, 05:57 AM   #18
Parrothead
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This is a big factor on what you do with your life. We have always planned on going full time and leaving Calif. However, the Health Insurance I have through my Public Employees retirement is only good in certain states and your zip code has to be in a service area. We pay about $600 per month for both of us (I'm on Medicare, Ed is not) and it basically covers everything. Even eye examines and hearing aids. We pay $10 for Dr visits and about $5-$10 for each Rx. Until my heart attack we were thinking we would not need this good of insurance. But my RX alone would run over $700 per month if we had to pay full price. Ambulance was $2400. You could get wiped out real fast with these type of bills.
Happy trails........................
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Old 03-08-2006, 12:39 PM   #19
kdeiss
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genecurp- that doesn't sound bad to me. You can arrange to pay the hospital off in payments with no interest usually. They are just happy that you are going to actually pay them as many don't. This may be the insurance my patient was telling me about.
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Old 03-08-2006, 12:44 PM   #20
TheCoachPotatoes
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Sue, I'm glad you are feeling better. I agree with you. If you have a good plan, I would do what I could to keep it. We also have the problem, of a health plan that is really an HMO. They will cover you for an emergency while you are traveling, but they expect you to have a local address in order to even be in their plan. Most doctors in the Capital District in NY State are in the plan. My employer allows us to have a sick time bank when you retire to put toward the cost of health insurance. I will probably have a considerable amount in there when I retire in 2-3 years. We plan to sell our house, buy a condo and travel during winter months. Having a condo instead of a house will make it easier to leave the Northeast in the Winter and not have to worry about snow removal.

Nita
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