CAN'T RETIRE BECAUSE OF COST OF HEALTH INSURANCE - Page 8

bathina · ‎03-14-2010

@CalminHeart you are quite wrong. Members of Congress and their staff must pay for insurance coverage like everyone else. Like most employers, the federal government pays a portion of the premium for employees. Congressional members buy their insurance from the DC ACA exchange and they pay for it.

silkyk · ‎03-03-2011

@GingerPeach wrote:
If you don't mind Kaiser, it might have lower rates. They are all over the SF Bay Area, @Spinach30, as you probably know.

I used them for a couple of years until I was old enough for Medicare. Not my favorite, but the cost was the lowest.

ETA: You can get a quote online.

Kaiser is GREAT! (Don't mind?) Fantastic Drs. AND staff and I'm a complainer. Nothing to complain about Kaiser.

Hayfield · ‎03-10-2010

@bathina wrote:
@CalminHeartyou are quite wrong. Members of Congress and their staff must pay for insurance coverage like everyone else. Like most employers, the federal government pays a portion of the premium for employees. Congressional members buy their insurance from the DC ACA exchange and they pay for it.

Bathina is right, Congress does indeed pay health care premiums the portion that the Federal Governments pays is about 75%, so it's a very big portion of the premium, making it truly afforable, for them!

LexaMom · ‎03-10-2010

@Nightowlz wrote:
Ok we can go on Medicare when we turn 65.
How much does Supplemental Ins cost???
I have no clue. Is it going to be less then the $1000 the OP is talking about?
DH takes no scripts & I take NP Thyroid which I pay out of pocket now because our Ins will not pay for this natural medication.

Medicare is less $$ than $1000/mo but it is not inexpensive. I have Plan F Supplemental (they are discontinuing this for new retirees but they will have a similar plan with a deductible) - I pay $250/month for Plan F + $134/month for Part B + Prescription Plan - Part D is $31/month. I have no copays and no deductible on my Supplemental. But I have 3 tier 3 medications and I pay a LOT for my meds. I have no idea why they kept saying the Donut Hole was going away this year since it didn't. FYI - I am single with no dependents I suspect many pay a lot more than me.

bathina · ‎03-14-2010

@Hayfield, in order to receive the 75% employer contribution, Congress must buy a Gold level policy. My employer contributes nearly 75% to my premium also. And reimburses us 80% of the deductible. Most employers do this to attract and retain talent. Bottom line, it is a myth that Congress receives free healthcare fit for a king while the rest of us suffer.

RetRN · ‎10-01-2013

@chrystaltree wrote:
I don't see that as a "mess" at all. Sure it's expensive but I know a gentleman who pays more for his non group insurance plan, he pays around $1400 now and he's just happy he's in a position to pay for his own insurance until he turns 65 and becomes eligible for Medicare. It was, after all, his choice to retire before the age of 65. That's the problem, individual health insurance is very expensive and being 60 years old, that puts you in the demographic that uses their health insurance benefits. Hence the high premiums and co-pays. We don't have a national health care plan so no, it is not "crazy". It's why we don't see as many people retiring at 62 now. At one time, many people opted to retire before the age of 65 but that just isn't possible for most people now. People have to wait until they are eligible for their Medicare. Cars are expensive, homes are expensive, car insurance is expensive and health insurance is expensive even for those of us who have our insurance through employers because employers are passing along more of the cost to their workers. This year my employer stared a "tiered" scheme when it comes to our health insurance coverage. Basically, it's a reduction in benefits and the premiums are based on how much we make. The more money you make, the higher your premium.

Unrealistic, your health may not allow you to work until 72 or your employers may downsize and eliminate your positions. If you truly saved and planned for retirement you would enjoy retiring at 62 or 65 to really enjoy retirement. You've already had one knee replaced and need the other one replaced. Since your life sounds pretty sedentary you are probably one of those people who wouldn't know how to enjoy or have fun in retirement anyways. Do you not enjoy spending time with your grandchildren? Working until 72 is very sad for people who have worked all of their lives and knew that retirement was in their futures.

Nannerbelles · ‎03-10-2010

Husband and I are in the same boat. We both have health insurance through our employers. I am 62 and he will be 63 next month. He wants to retire and have me put him on my insurance and I will work until 65 when we hopefully can get medicare. Everyone but me t hinks that is a great idea. We have both worked our entire life so why should he get to retire and I don't. I can't get past that and would probably make his life a living H*LL if that happened. All of our friends and famil are like why don't you both just retire. Well we don't have cushy insurance that they have from city, county and federal jobs. I think we will both have to buck up and hang on until 65. I sure would like some extra time to be able to spend with our grand kids both of whom live elsewhere before they are in school and we are too old to travel and keep up with them. I guess I feel like it's always been my lot in life to not be able to do what others have done even though we have worked hard all of our lives.

It is what it is!!!

haddon9 · ‎03-09-2010

@Spinach30 I can't wait to turn 65 this year and finally get Medicare! For the last 5 years (I was on DH's insurance and he retired early which is another story) I've been paying a high premium.

Each year except for this one it has gone up. It was close to 1K a month but for some reason in January it went down to closer to $900.00.

Yes if you're over 60 but not yet 65 health insurance is usually very expensive in the US if you have to pay out of pocket. I'm in southeastern PA.

Mindy D · ‎05-23-2010

@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’ve been in this boat. It’s been awful. I can’t wait for Medicare.

haddon9 · ‎03-09-2010

@judy0330 wrote:
So many people are in the same boat. I just paid my last health insurance premium. I go on Medicare on 3/1 and never thought I would be this happy about turning 65. Last year my premiums totaled more than $11,000 and then I had to pay my deductible because I had hand surgery. Another $6,500. SO -- $17,500 for health insurance. Ridiculous. (And worse before my husband went on Medicare.) Our mortgage has been paid off for a long time but this was tantamount to still having one. I am really looking forward to the additional disposable income we will have starting in March.

@judy0330 For the first time in my adult life I'm looking forward to getting older...I'll be 65 in a few months & can't wait to get Medicare!