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Old 09-09-2014, 03:34 PM
 
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How much do you pay total for health insurance? I am turning 65 this year and our total cost is going up. i am curious if this is the case for most people after retirement.
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Old 09-09-2014, 03:47 PM
 
Location: The Triad (NC)
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Quote:
Originally Posted by cb2008 View Post
I am turning 65 this year and our total cost is going up.
Are you saying that Medicare will cost you MORE than your previous private policy?
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Old 09-09-2014, 04:25 PM
 
Location: Los Angeles area
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A lot depends on how you choose to received your Medicare benefits. We will all pay slightly over $100 per month for the Medicare Part B premium (substantially over $100 if our income is high - it steps up in four or five tiers).

But then the differences begin. I have a Medicare Advantage Plan (Kaiser in Los Angeles County) which does not have any monthly premium, and the co-pays are quite low ($5 for doctor visits, including specialists). Lab work is $20. Hospitalization costs about $125 per day for the first 10 days, thereafter free. Drugs are negligible unless you have some rare weird ones.

So I am paying essentially zero for medical costs, but not everyone is fortunate in living where the Medicare Advantage Plans compete against each other so fiercely for business. In some areas these plans have a hefty monthly premium.

If your total cost is going up at age 65, it means you currently have wonderful gold-plated employer-paid health insurance which either ends or gets reduced when you turn 65. Like Mr. Rational, I don't see any other way your costs could be going up.
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Old 09-09-2014, 04:40 PM
 
Location: SoCal desert
8,093 posts, read 13,245,924 times
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Quote:
Originally Posted by Escort Rider View Post
If your total cost is going up at age 65, it means you currently have wonderful gold-plated employer-paid health insurance which either ends or gets reduced when you turn 65.
This will be me.
My retiree insurance ($10 a month, Anthem Blue Cross) will become my secondary when I am eligible for medicare.

So mine will jump like a rocket ship.
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Old 09-09-2014, 05:30 PM
 
Location: SW MO
23,605 posts, read 31,519,632 times
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Neither our Medicare nor our top of the line supplement, including a Part D without donut hole, cost us any premiums. They're provided by our pension plan (we each have the same one) and they reimburse our Medicare Part B premiums. We have minor copays for prescriptions but that's it.
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Old 09-09-2014, 06:11 PM
 
Location: Grove City, Ohio
10,139 posts, read 12,402,575 times
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Before medicare I was paying around $600 for an employer plan that had a deductible and out of pocket expenses with out of pocket being $2,500 or so I remember.

Doctor co-pays were $25, drugs were minimal and all in all a good plan.

Medicare Part B costs $104.90
Plan F (supplement) costs $141
Plan D (Drugs) costs 30
Dental $30

Total of $306.90 so I am saving a lot.

My Plan F is more expensive than most plans but I have yet to pay a dime out of pocket for any doctor, lab or hospital procedure and I have had a few. Emergency room I pay $0 as I would with any hospital stay and it carries with it $50,000 foreign country insurance so if I got sick visiting France I should have at least enough to get me home.

Fore me the Plan F is a good fit.

Drugs aren't bad except for January when there is a deductible and that sets me back about $600 for the year.
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Old 09-09-2014, 06:52 PM
 
10,819 posts, read 8,077,208 times
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Quote:
Originally Posted by Gandalara View Post
This will be me.
My retiree insurance ($10 a month, Anthem Blue Cross) will become my secondary when I am eligible for medicare.

So mine will jump like a rocket ship.
That's what happened to us since we have healthy pensions that put us in one of the higher income brackets for Part B coverage. We're ok with it, we knew it was coming.
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Old 09-10-2014, 02:58 AM
 
71,811 posts, read 71,919,037 times
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Quote:
Originally Posted by nicet4 View Post
Before medicare I was paying around $600 for an employer plan that had a deductible and out of pocket expenses with out of pocket being $2,500 or so I remember.

Doctor co-pays were $25, drugs were minimal and all in all a good plan.

Medicare Part B costs $104.90
Plan F (supplement) costs $141
Plan D (Drugs) costs 30
Dental $30

Total of $306.90 so I am saving a lot.

My Plan F is more expensive than most plans but I have yet to pay a dime out of pocket for any doctor, lab or hospital procedure and I have had a few. Emergency room I pay $0 as I would with any hospital stay and it carries with it $50,000 foreign country insurance so if I got sick visiting France I should have at least enough to get me home.

Fore me the Plan F is a good fit.

Drugs aren't bad except for January when there is a deductible and that sets me back about $600 for the year.
i am looking in to plans for marilyn now and since we intend to travel alot we are looking in to a plan f and medicare. i am also looking at a high deductable plan f
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Old 09-10-2014, 08:01 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,658 posts, read 40,039,994 times
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What are retirees paying for HC insurance ?... It depends...

I was paying $325 / month when I retired at age 49 (catastrophic policy).

3 yrs into retirement the Gov disbanded my affordable options. Today I am 8 yrs away from SS and paying $1700/mo for a $20,000 annual deductible policy (essentially catastrophic).

I fully support medi-vacations, and the countries / staff that make them possible. The 'HC covered' Europeans have been doing this for 4 decades. (Go to Asia to get 'tuned up' 1/ yr).

Book early! The airport reception area looks like a hospital Job Fair! Many places with recliners and couches. Get off the plane, stumble through immigration and take a seat... They will fetch you to the hospital in an ambulance if you want to pay $10 extra.

I get all my 'procedures' quoted overseas.
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Old 09-10-2014, 09:20 AM
 
3,145 posts, read 1,734,316 times
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while i take care of our finances and investments, my husband deals with health insurance and medicare. the whole thing confuses me and i hate thinking about it.
after his retirement i was on a company plan that covers spouses until i am eligible for medicare which i will be in a few months. now both our medicare plan will be based on our income of 2 years ago when he retired and we got hit with all the pension roll overs and RMW for 401K.
maybe our problem has more to do with poor tax planning rather than health care costs.
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