U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Health and Wellness > Health Insurance
 [Register]
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
 
 
Old 07-22-2012, 06:48 PM
 
Location: Fort Payne Alabama
739 posts, read 607,867 times
Reputation: 1160
Quote:
Originally Posted by brrrinmass View Post
How do people who retire before 65 afford health insurance. I was talking with a friend of mine who is about to retire (60 yrs old) and he said to maintain the same plan he has at work currently will cost him $2500.00 a month for him and his wife. That is $30,000 a year. Who the heck can afford that. I am only 50 so I can only imagine how much it will go up by the time I am 60. Guess my plan of going out at 62 is only a dream.
What's worse your chances of even getting any kind of health care insurance after you turn 55 is like winning the lottery, no one wants to insure an "old person".
Quick reply to this message

 
Old 07-22-2012, 07:05 PM
 
Location: San Francisco
11,194 posts, read 1,482,362 times
Reputation: 20720
I was forced to retire early (at 58) because my company downsized and automated my job out of existence. The company offers no retiree health insurance, so I was suddenly on my own. Luckily because I belonged to a union, I was able to keep my old insurance, but I have to pay 100% of the premium instead of the company picking up most of the cost as they did when I was working.

To make a long story short, my monthly premium has skyrocketed in the nearly five years since I retired. It was $600-something then; now it's over $1300 a month, more than twice the amount of my modest pension. I feel very fortunate that I have other assets to draw from so I will be able to keep my insurance until Medicare kicks in at 65.

A friend of mine hasn't been so fortunate; she has no employer-provided insurance through her own job so she and her husband had to go without when he lost his. Then she slipped fell while getting off a boat while on vacation and broke her arm. Luckily this happened in the Virgin Islands where health care is cheap, and she was able to get the emergency treatment she needed without going broke.

Why is insurance so costly for people our age? The union health and welfare rep told me that insurance companies assume that, if you are over 50 and retire early, that you must have something wrong with your health or you'd still be working. Therefore they charge the highest possible rates. That's just crazy, especially now when a lot of companies won't hire older employees who are willing and able to work.
Quick reply to this message
 
Old 07-22-2012, 09:20 PM
 
4,749 posts, read 8,343,631 times
Reputation: 5915
Quote:
Originally Posted by Bayarea4 View Post
I was forced to retire early (at 58) because my company downsized and automated my job out of existence. The company offers no retiree health insurance, so I was suddenly on my own. Luckily because I belonged to a union, I was able to keep my old insurance, but I have to pay 100% of the premium instead of the company picking up most of the cost as they did when I was working.

To make a long story short, my monthly premium has skyrocketed in the nearly five years since I retired. It was $600-something then; now it's over $1300 a month, more than twice the amount of my modest pension. I feel very fortunate that I have other assets to draw from so I will be able to keep my insurance until Medicare kicks in at 65.

A friend of mine hasn't been so fortunate; she has no employer-provided insurance through her own job so she and her husband had to go without when he lost his. Then she slipped fell while getting off a boat while on vacation and broke her arm. Luckily this happened in the Virgin Islands where health care is cheap, and she was able to get the emergency treatment she needed without going broke.

Why is insurance so costly for people our age? The union health and welfare rep told me that insurance companies assume that, if you are over 50 and retire early, that you must have something wrong with your health or you'd still be working. Therefore they charge the highest possible rates. That's just crazy, especially now when a lot of companies won't hire older employees who are willing and able to work.
You will not have to wait until age 65, if 2014 comes before you reach that year. The Affordable Care Act will then have Healthcare exchanges in your State where you can choose affordable healthcare.

The reason the insurance is so costly now is because it is now; and it was impossible to give affordable Healthcare to all Americans. In the Past President Clinton tried with Hillary Clinton leading a proposal but was blocked by the Republican Party. Now the President Obama has succeeded with The Affordable Care Act. If you think that I will have Medicare, I will not be effected, you will be wrong as the Act adds more provisions for coverage in Medicare.

Livecontent
Quick reply to this message
 
Old 07-23-2012, 09:26 AM
 
144 posts, read 183,373 times
Reputation: 153
Quote:
Originally Posted by cdelena View Post
Not my experience. I have been paying for my own coverage (without company or government help) for many years and have knowledge of what it costs and where it is headed.

The government mandated plans cost more than the plans before the law started being phased in. I have been cornered into staying with my existing high deductible plan (grandfathered for now since I have had it for a couple of years) as all the new offerings have much higher costs (some of it hidden in co-payment provisions).

We will all pay for this legislation with higher costs, higher taxes, and less comprehensive care. You simply cannot expand a service and add a huge bureaucracy without paying for it.
I would like to see some links with actual number showing that we will pay more for the same coverage.
Quick reply to this message
 
Old 07-23-2012, 10:00 AM
 
144 posts, read 183,373 times
Reputation: 153
Quote:
Originally Posted by livecontent View Post
You will not have to wait until age 65, if 2014 comes before you reach that year. The Affordable Care Act will then have Healthcare exchanges in your State where you can choose affordable healthcare.

The reason the insurance is so costly now is because it is now; and it was impossible to give affordable Healthcare to all Americans. In the Past President Clinton tried with Hillary Clinton leading a proposal but was blocked by the Republican Party. Now the President Obama has succeeded with The Affordable Care Act. If you think that I will have Medicare, I will not be effected, you will be wrong as the Act adds more provisions for coverage in Medicare.

Livecontent
I agree with everything you said. Too many uninformed posts about the ACA. The reform is far from perfect but it's a very good start. If nothing changes, I should be able to afford health care if I decided to retire next year at 58.
Quick reply to this message
 
Old 07-23-2012, 12:06 PM
 
82 posts, read 68,031 times
Reputation: 117
Quote:
Originally Posted by stockproipi View Post
I agree with everything you said. Too many uninformed posts about the ACA. The reform is far from perfect but it's a very good start. If nothing changes, I should be able to afford health care if I decided to retire next year at 58.
Better do it next year because if you wait until 2014 you'll have a six-month waiting period...meaning you have to be without insurance for six months before being able to enroll. Better hope you don't have anything major happen to you during those six months...
Quick reply to this message
 
Old 07-23-2012, 01:08 PM
 
4,749 posts, read 8,343,631 times
Reputation: 5915
Quote:
Originally Posted by gbpakrfan View Post
Better do it next year because if you wait until 2014 you'll have a six-month waiting period...meaning you have to be without insurance for six months before being able to enroll. Better hope you don't have anything major happen to you during those six months...
This is a statement that shows ignorance of the facts. There is no six mouth waiting period when the Health Care Exchanges go into effect in the States in 2014 as there will be no refusal because of pre-existing conditions. The Pre-existing Insurance Plan (PCIP) which has that 6 month period, goes away and cease to exist in 2014. It is only a temporary fix until the Health Care Exchanges of The Affordable Health Care Act (HCA) come into full force.

Read and Learn before you post nonsense. Following me around and counteracting my posts does not make you look good if you do not know what you are talking about. Perhaps you are so smart; so prove me wrong with a citation in the Act or the implementing Statutes that specifically defines a waiting period of 6 months and/or refusal because of pre-existence in the healthcare exchanges. I really would like to see what you are referencing.

Livecontent

Last edited by livecontent; 07-23-2012 at 01:40 PM..
Quick reply to this message
 
Old 07-23-2012, 06:39 PM
 
Location: Fort Payne Alabama
739 posts, read 607,867 times
Reputation: 1160
Quote:
Originally Posted by livecontent View Post
This is a statement that shows ignorance of the facts. There is no six mouth waiting period when the Health Care Exchanges go into effect in the States in 2014 as there will be no refusal because of pre-existing conditions. The Pre-existing Insurance Plan (PCIP) which has that 6 month period, goes away and cease to exist in 2014. It is only a temporary fix until the Health Care Exchanges of The Affordable Health Care Act (HCA) come into full force.
You are 100% correct Livecontent, that is one of the main thrusts of the AHCA
Quick reply to this message
 
Old 07-24-2012, 09:42 AM
 
Location: Salisbury,NC
1,841 posts, read 635,563 times
Reputation: 724
I retired at 55 and my old com. has retiree Med. coverage.Since the ACA was passed my premium for my wife and I has stayed the same. The Com. still pays in but it is locked in at 2011 level.
I expect to be looking for coverage in 2014 as with my new income I will fall into a lower bracket. I believe BCBS is coming out with lower cost plans.
Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


 
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:
Over $84,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Health and Wellness > Health Insurance
Similar Threads

All times are GMT -6.

2005-2014, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top