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Honored Contributor
Posts: 9,189
Registered: ‎12-22-2013

Re: CAN'T RETIRE BECAUSE OF COST OF HEALTH INSURANCE


@bathina wrote:

@staciesmom wrote:

Why don't we demand our elected representatives do something about this situation? It seems like the United States has plenty of money to give away to foreign countries, why not demand change? We allow the NFL to not pay taxes, but working people are taxed to the hilt. 


Seriously?


We have to be careful who we put into office.  Only politicians can change things and we can change things by how we vote.  I was shocked when I first heard NFL did not pay taxes.  How ridiculous is that?

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Esteemed Contributor
Posts: 6,641
Registered: ‎03-11-2010

Re: CAN'T RETIRE BECAUSE OF COST OF HEALTH INSURANCE

I guess I am lucky.  I have Medicare as primary and then my health insurance kicks in from the State where I was a teacher for over 30 years.  I do pay but it comes directly out of my pension and it covers just about everything between the two.  

Trusted Contributor
Posts: 1,799
Registered: ‎05-02-2017

Re: CAN'T RETIRE BECAUSE OF COST OF HEALTH INSURANCE

Blessings to you and many years of healthy and happy living.

Respected Contributor
Posts: 2,916
Registered: ‎03-14-2010

Re: CAN'T RETIRE BECAUSE OF COST OF HEALTH INSURANCE


@sunshine 919 wrote:

@Nightowlz wrote:

That's the only reason DH is still working. It's ashamed people have to work until they are dead.

Our government needs to provide decent health care for all the people not just for them.


I totally agree.  Our country is too big to keep having insurance issues.  If the good insurance is good for the government it should be good for the rest.  I bet they have great dental as well.  Probably no co pays.  And they could afford it.  


Congress gets their insurance from the ACA exchange.

Honored Contributor
Posts: 33,429
Registered: ‎08-23-2010

Re: CAN'T RETIRE BECAUSE OF COST OF HEALTH INSURANCE

@Spinach30

 

Many people aren't ready to retire at age 60, because they aren't ready financially.   My neighbor is 72 and still working ...   she did a lousy job of planning ahead.  At 65 you can get Medicare,  but don't expect it to be free.  

Honored Contributor
Posts: 10,618
Registered: ‎09-22-2010

Re: CAN'T RETIRE BECAUSE OF COST OF HEALTH INSURANCE

I couldn't imagine retiring at 60 because I loved my job and most of my fellow employees.  I was ready at 68 because of some restructuring of department so it was nice to have the option.  I had originally planned to work until I was 72.  

 

If people keep opting out and paying the penalty the prices are never going to come down.  They need healthy people paying in and not using the system to make it work. I thought I heard that they got rid of the penalty.

Esteemed Contributor
Posts: 7,822
Registered: ‎03-09-2010

Re: CAN'T RETIRE BECAUSE OF COST OF HEALTH INSURANCE

[ Edited ]

@Spinach30 wrote:

Are any of you in the same boat?  I'm 60 years old and I'm tired of working.  I started working after school at age 13 and haven't stopped since. Been in the financial industry for the last 20.   I've got a nice nest egg and invesments and thought I could do it.  Well,  I've called a number of insurance exchanges and the cheapest insurance I found is aorund $1,000 a month with a very high deductlbe.  Is this CRAZINESS????!!!!!!!!  By the way, I live in California (SF Bay Area).  I hope something can be done and very soon about the mess our medical insurance is right now.  I guess I'll continue to work a while longer - DARN IT!


 

Yes!  I agree with you.  

 

I retired at 62.  My huge, international Fortune 500 employer cut a lot of benefits for employees and retirees, including no longer subsidizing health insurance premiums.  I work parttme at a midwest grocery store chain to help cover the cost of medical insurance.  I turn 65 in couple of months and have been pricing Medicare and supplemental policies.  I can hardly wait!  I'll save a ton of money per month.  And I'm not working at all once I go on them.

Esteemed Contributor
Posts: 7,822
Registered: ‎03-09-2010

Re: CAN'T RETIRE BECAUSE OF COST OF HEALTH INSURANCE


@bathina wrote:

@sunshine 919 wrote:

@Nightowlz wrote:

That's the only reason DH is still working. It's ashamed people have to work until they are dead.

Our government needs to provide decent health care for all the people not just for them.


I totally agree.  Our country is too big to keep having insurance issues.  If the good insurance is good for the government it should be good for the rest.  I bet they have great dental as well.  Probably no co pays.  And they could afford it.  


Congress gets their insurance from the ACA exchange.


 

Yes, congress gets ACA coverage....the best taxpayers' money can buy.  They don't pay a dime for it and have the king of kings coverage.   It makes me angry that ACA is good enough for them but they destroyed it for everyone else.

Honored Contributor
Posts: 13,416
Registered: ‎03-13-2010

Re: CAN'T RETIRE BECAUSE OF COST OF HEALTH INSURANCE

I feel your pain!  That is why I waited to retire until I turned 66!  I was the same as you -- worked my entire life --- no break.  And for a great deal of my life worked multiple jobs. Health care prices are horrendous.  I don't know why nothing is done about this in this country either.  And the cost of prescription drugs is just disgusting as well.  I wanted to quit working way before I did and I had to keep at it for the same reason.  I know how you feel and I really hope if you keep checking around that you can find something a bit less expensive.   

"A day without sunshine is like, you know, night." - Steve Martin
Contributor
Posts: 30
Registered: ‎11-08-2015

Re: CAN'T RETIRE BECAUSE OF COST OF HEALTH INSURANCE

Am I missing something because this formula does not make sense?

It is based on your age which calculates to the older you are, the more money you need to have saved for retirement.