Armed Polite Society
Main Forums => The Roundtable => Topic started by: MillCreek on November 21, 2021, 04:14:53 PM
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In preparation for my wife retiring at the end of the school year, we went to a retirement seminar put on by the school district.
I was left with two primary conclusions:
1. I am worth more dead than alive right now
2. The cost of medical coverage in retirement, especially if you are not eligible for Medicare yet, will make your eyes water.
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1. I am worth more dead than alive right now
Well, it's been nice knowing you.
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. . . 2. The cost of medical coverage in retirement, especially if you are not eligible for Medicare yet, will make your eyes water.
Nearly a grand a month for 1 person to get a crappy, high-deductible bronze plan, right?
Becoming eligible for Medicare and getting some sort of additional insurance (medicare advantage or medigap) to supplement it means BIG savings for most people.
O'Biden care really put the screws to a lot of folks.
Let's Go Brandon.
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Nearly a grand a month for 1 person to get a crappy, high-deductible bronze plan, right?
Yup. Mine's at $800/mo right now for the crappy cheapest Bronze that is HSA acceptable. Strangely, the non-HSA plans are slightly cheaper. You would think that would be the opposite given that people with HSAs would likely be using less insurance.
I know some here may hate me for it, but $800/mo, or $9600 for an annual physical was getting to be too much for me, so I signed up for Your Health Idaho, which with my current MAGI, knocked $500 off the cost for me. If I didn't have all the farm deductions to help the MAGI, I'd still be paying $800/mo. As it is, I have to be careful with my dividends and capitol gains so they don't knock me out, since MAGI is higher than AGI.
In Idaho at least, you can make up to $140K/yr income and get some tax credit.
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Private medical costs in retirement are an effective means of recycling individual wealth back into the corporations that paid it out as salary during an individuals working life.
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Nearly a grand a month for 1 person to get a crappy, high-deductible bronze plan, right?
Becoming eligible for Medicare and getting some sort of additional insurance (medicare advantage or medigap) to supplement it means BIG savings for most people.
No s***. Bills are coming in for my wife's psych/etc. adventures this past August. Multiple multi day hospital stays, I don't remember how many ER visits. And, we can actually pay them.
O'Biden care really put the screws to a lot of folks.
Let's Go Brandon.
He's only the latest.
I'm thinking, maybe the innumerate shouldn't vote.
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Amazingly they called it “the affordable care act”
Since it is NOT affordable and they obviously don’t care.
Yeah I’m looking at $928 per month for a high deductible HSA qualified plan. Zip code is a factor. And age.
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Here in this area, a typical bronze plan will run me just about $ 1100/month.
ETA: the underwriting questions asked of me: zip code, age, sex, and past or current use of tobacco products. So this is the information they use to generate a quote.
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Just remember, you're not just paying for yourself, you're paying for others as well . . . so THEY can get affordable health care. (Everything is affordable when SOMEONE ELSE pays.)
For various reasons I had to switch insurance carriers several times since I was forced to retire, and I had one of my health insurance companies fold a while back - they managed THEIR finances OK, but it turns out that some OTHER health insurers didn't. Citing some sort of "group share" rules in the O'Biden care law, the Feds hit them with an unexpected tax to help bail out their poorly-run competitors - an additional tax in the amount of 51% of the total premiums they'd collected, over an above what they'd already paid.