BMWSportTouring BMWST DB
Previous Thread
Next Thread
Print Thread
Page 1 of 23 1 2 3 22 23
#780489 - 05/30/12 11:25 AM "OK"..you retire. But what about Health Care if your under 65???  
Joined: Nov 2001
Posts: 1,915
BMWRich58 Offline
Member
BMWRich58  Offline
Member

Joined: Nov 2001
Posts: 1,915
"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??

#780499 - 05/30/12 12:08 PM Re: "OK"..you retire. But what about Health Care if your under 65??? [Re: BMWRich58]  
Joined: Nov 2002
Posts: 6,686
upflying Offline
Member
upflying  Offline
Member

Joined: Nov 2002
Posts: 6,686
Reno, NV
My retirement pension includes heath care until age 65 when i have to apply for Medicare.

Last edited by upflying; 05/30/12 12:08 PM.

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.
#780501 - 05/30/12 12:10 PM Re: "OK"..you retire. But what about Health Care if your under 65??? [Re: BMWRich58]  
Joined: Nov 2000
Posts: 1,365
Patallaire Offline
Member
Patallaire  Offline
Member

Joined: Nov 2000
Posts: 1,365
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
#780505 - 05/30/12 12:25 PM Re: "OK"..you retire. But what about Health Care if your under 65??? [Re: BMWRich58]  
Joined: Jul 2000
Posts: 7,825
John Ranalletta Offline
Member
John Ranalletta  Offline
Member

Joined: Jul 2000
Posts: 7,825
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.

Last edited by Estinto; 05/30/12 12:26 PM.

I was in Switzerland recently and I didn't see one person with a knife!
#780515 - 05/30/12 01:02 PM Re: "OK"..you retire. But what about Health Care if your under 65??? [Re: Patallaire]  
Joined: Jul 2000
Posts: 12,058
Paul Mihalka Offline
Old Fart
Paul Mihalka  Offline
Old Fart
Member

Joined: Jul 2000
Posts: 12,058
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
#780518 - 05/30/12 01:12 PM Re: "OK"..you retire. But what about Health Care if your under 65??? [Re: BMWRich58]  
Joined: Jul 2002
Posts: 9,692
Killer Offline
Member
Killer  Offline
Member

Joined: Jul 2002
Posts: 9,692
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...

#780521 - 05/30/12 01:25 PM Re: "OK"..you retire. But what about Health Care if your under 65??? [Re: BMWRich58]  
Joined: Apr 2003
Posts: 16,404
Ken H. Offline
Turtle Whacks
Ken H.  Offline
Turtle Whacks
Member

Joined: Apr 2003
Posts: 16,404
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.
#780524 - 05/30/12 01:40 PM Re: "OK"..you retire. But what about Health Care if your under 65??? [Re: BMWRich58]  
Joined: Jul 2000
Posts: 10,325
Mike Offline
Administrator
Mike  Offline

Administrator
Member

Joined: Jul 2000
Posts: 10,325
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
Born to be Mild
#780530 - 05/30/12 02:03 PM Re: "OK"..you retire. But what about Health Care if your under 65??? [Re: BMWRich58]  
Joined: Oct 2006
Posts: 3,324
CoarsegoldKid Offline
Member
CoarsegoldKid  Offline
Member

Joined: Oct 2006
Posts: 3,324
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

'05 R1200RT 109K miles, takes me down the highway.
'13 KTM 690 Enduro R 16K miles takes me through the woods.
#780535 - 05/30/12 02:18 PM Re: "OK"..you retire. But what about Health Care if your under 65??? [Re: Mike]  
Joined: Dec 2002
Posts: 19,674
tallman Offline
Picture Perfect Humorist
tallman  Offline
Picture Perfect Humorist
Member

Joined: Dec 2002
Posts: 19,674
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
1996 R 100 RSL
1980 R 100 RT
1972 R 75
1968 R 50
All now gone...

Page 1 of 23 1 2 3 22 23

Powered by UBB.threads™ PHP Forum Software 7.6.0
Page Time: 0.010s Queries: 15 (0.003s) Memory: 2.8113 MB (Peak: 3.0003 MB) Zlib enabled. Server Time: 2017-12-16 13:12:12 UTC