BMWSportTouring BMWST DB
Page 1 of 23 1 2 3 ... 22 23 >
Topic Options
#780489 - 05/30/12 06:25 AM "OK"..you retire. But what about Health Care if your under 65???
BMWRich58 Offline
Member

Registered: 11/05/01
Posts: 1915
"OK"..you retire....GREAT !!!!
But,....what about Health Care if your under 65/66?
I,myself can go next April (35 yrs of service).

What are "early retirees" doing till they reach Medi Care age??

Top
#780499 - 05/30/12 07:08 AM Re: "OK"..you retire. But what about Health Care if your under 65??? [Re: BMWRich58]
upflying Online
Member

Registered: 11/10/02
Posts: 6506
Loc: Reno, NV
My retirement pension includes heath care until age 65 when i have to apply for Medicare.


Edited by upflying (05/30/12 07:08 AM)
_________________________
Bob
Reno,NV

2014 HD FXDC
2001 HD FLHPi (former work bike)
2009 HD FLHPi 103" (former work bike)
1972 Honda CT-90 garage queen

Logical politics is the Holy Grail of oxymorons.

Top
#780501 - 05/30/12 07:10 AM Re: "OK"..you retire. But what about Health Care if your under 65??? [Re: BMWRich58]
Patallaire Offline
Member

Registered: 11/20/00
Posts: 1292
Loc: Buffalo,NY, USA
They either pay out of pocket or they choose not to retire. If they are "Downsized" they are picking it up through Cobra. Health care is a major expense to be calculated into the retirement decision. IT is estimated that a retiree will consume upwards of $250,000 in retirement for medical expense and care. That does not include Long Term care costs which can easily double that number, unless people become impoverished and go on Medicaid. The three biggest enemies of retirement planning are Longevity, Inflation and Medical Expense. So, when you are going to make the choice to retire if you don't have Long Term Care insurance or good medical insurance, set aside between $250,000 and $350,000 for future delivery of health expense. Think it through, as the river of de-nile is deep, cold and unforgiving as you can't go back, so it usually ends in unpleasant surprises.
_________________________
Pat Allaire
99RT Tundra Green
www.AllaireFinancial.Com
Allaire Financial Strategies
Buffalo, NY

Top
#780505 - 05/30/12 07:25 AM Re: "OK"..you retire. But what about Health Care if your under 65??? [Re: BMWRich58]
John Ranalletta Offline
Member

Registered: 07/29/00
Posts: 7345
Quote:
What are "early retirees" doing till they reach Medi Care age??

Pray the Supremes uphold the health care legislation. Not stating for or agin....just saying.

Also, don't count on Medicare in the long run. My proctologist billed Medicare $2,800 for exam and facilities. Medicare paid $500. How long until physicians say "no thanks" to Medicare patients? Not long.

Doesn't help that Medicare is broke(n) and unsustainable. That which is unsustainable (Medicare, SS, et al) will cease to exist in their present form for more than 5 years.

Prepare for long waiting times with a limited number of docs who are low bidders and who are willing to work for everyday wages.


Edited by Estinto (05/30/12 07:26 AM)

Top
#780515 - 05/30/12 08:02 AM Re: "OK"..you retire. But what about Health Care if your under 65??? [Re: Patallaire]
Paul Mihalka Offline
Old Fart
Member

Registered: 07/20/00
Posts: 12058
Loc: Sykesville, MD
"The three biggest enemies of retirement planning are Longevity"......
I found this funny, but so true.
_________________________
Age is a issue of mind over matter. If you don't mind, it doesn't matter... (Mark Twain)
Many years and 1 million (s)miles.

'05 R1200GS lotsa miles (sold)
'09 Yamaha Majesty - yes, a scooter

Top
#780518 - 05/30/12 08:12 AM Re: "OK"..you retire. But what about Health Care if your under 65??? [Re: BMWRich58]
Killer Offline
Member

Registered: 07/15/02
Posts: 9646
Loc: Wayne County, Utah, USA
Originally Posted By: BMWRich58
"OK"..you retire....GREAT !!!!
But,....what about Health Care if your under 65/66??


You pay through the nose for less care than you ever got through the company. This applies to self employed people too (I'm not retired yet unfortunately) Health care insurance is by far my biggest expense, and I'm paying all of my Medicare & SS contributions myself instead of 50% at the corporation. I need to raise my rates...
_________________________
Bob Palin

Facebook
Flickr
Blog

Top
#780521 - 05/30/12 08:25 AM Re: "OK"..you retire. But what about Health Care if your under 65??? [Re: BMWRich58]
Ken H. Offline
Turtle Whacks
Member

Registered: 04/13/03
Posts: 16404
Loc: Edmonton, AB Canada
Don't even get me started...
_________________________
Ken & Donna H.
Doctor I need to learn how to relax faster.

If you want to ride tomorrow, ride quietly today.
Quiet is cool, silent is sexy.

Top
#780524 - 05/30/12 08:40 AM Re: "OK"..you retire. But what about Health Care if your under 65??? [Re: BMWRich58]
Mike Offline

Administrator
Member

Registered: 07/19/00
Posts: 9646
Loc: Chicago area, IL, USA
A few options discussed here.

I'm a mere youth ( tongue ), looking to retire in the next three to five years (or more), and I'm personally in pretty good shape with regard to health care, as I am a military retiree. But, it's a real concern for many.

Am I correct in guessing that you don't have any retirement health coverage options through your employer? I know those benefits are few and far between anymore, but if that's an option, it seems that it almost always makes the most financial sense.
_________________________
Mike the Moderator
R1200ST

Top
#780530 - 05/30/12 09:03 AM Re: "OK"..you retire. But what about Health Care if your under 65??? [Re: BMWRich58]
CoarsegoldKid Offline
Member

Registered: 10/23/06
Posts: 3111
Loc: Coarsegold, Ca, USA
Originally Posted By: BMWRich58
"OK"..you retire....GREAT !!!!
But,....what about Health Care if your under 65/66?
I,myself can go next April (35 yrs of service).

What are "early retirees" doing till they reach Medi Care age??

Pay it yourself is all I can add. We have been for the last 7 years. Each year the premium climbs about 10% for a high deductible 30 bucks a visit plan with Kaiser. At $1016 per month provides discounts on health services like x-rays, tests and such that presumably the uninsured person would actually pays. No eye or dental coverage. So for a bit over 12K per year plus whatever else happens it's basically a catastrophic insurance plan, a choice, so we don't lose it all in one hospital stay and go on welfare.
_________________________
Joe
NorCal Meets SoCal in the Middle 2015 is April 24-26.

'05 R1200RT 107K miles, takes me down the highway.
'13 KTM 690 Enduro R takes me through the woods.

Top
#780535 - 05/30/12 09:18 AM Re: "OK"..you retire. But what about Health Care if your under 65??? [Re: Mike]
tallman Offline
Picture Perfect Humorist
Member

Registered: 12/21/02
Posts: 17807
Loc: Tallahassee, Florida
Originally Posted By: Mike
A few options discussed here.

I'm a mere youth ( tongue ), looking to retire in the next three to five years (or more), and I'm personally in pretty good shape with regard to health care, as I am a military retiree. But, it's a real concern for many.

Am I correct in guessing that you don't have any retirement health coverage options through your employer? I know those benefits are few and far between anymore, but if that's an option, it seems that it almost always makes the most financial sense.


You are correct.
And, for many state workers in Florida, classified as OPS, they have no health or retirement benefits.
Fortunately that is offset by the low pay.
_________________________
If my mind wanders, should I follow it?
Tim
Conch Town Krewe
2003 K 1200 GT Mearas Luhn



Top
Page 1 of 23 1 2 3 ... 22 23 >