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Old 01-17-2015, 10:42 AM
 
Location: SoCal
6,077 posts, read 9,547,187 times
Reputation: 5839

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Quote:
Originally Posted by Ariadne22 View Post
This is correct. Clearly, the better response to this:

is purchase of COBRA for that reason was unnecessary. Under the SEP, hubby had eight months after losing creditable coverage to enroll in Parts B & D.

Per CMS:

Special Enrollment Period (SEP) for the Working Aged and Working Disabled.

Individuals who do not enroll in Part B or Premium-Part A when first eligible because they were covered under a group health plan based on their own or a spouse's current employment (or the current employment of a family member, if disabled) may enroll during the SEP.

The individual can enroll at anytime while covered under the group health plan based on current employment, or during the 8-month period that begins the month the employment ends or the group health plan coverage ends, whichever comes first. Individuals with ESRD are not eligible to enroll during this.
Hmmm... and we worked with an insurance broker, and apparently he also didn't know about this. We'll have to bring it to his attention!

DH says SSA's documentation states very clearly that he has 30 days if your coverage via your spouse stops. Apparently that's over-ridden by what you provided.
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Old 01-20-2015, 08:06 PM
 
440 posts, read 500,974 times
Reputation: 653
Hubby took a buyout at 48 (I was 41) and we keep the medical until we reach medicare age. It was a big part of the decision for him to take the buyout. Best part is we don't pay a dime.
He did wind up working again, but at a job he enjoys. But it is nice not to have to worry about medical.
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Old 01-21-2015, 09:54 AM
Status: "0-0-2 Game On!" (set 11 days ago)
 
Location: The beautiful Rogue Valley, Oregon
7,325 posts, read 15,377,978 times
Reputation: 9537
Quote:
Originally Posted by Jim Mac View Post
If retiring before Medicare kicks in, how do you afford health insurance?

How have you done it? Thanks.
It was (and is) our single largest expense. We aren't eligible for subsidies and the ACA plan we have is $$$ but it beats having no insurance. DH's company had only one plan available to us as early retirees - for 2014 that plan would have been $1375 a month for the 2 of us, compared the the ACA Silver plan of $874. So we had a reference point that made the ACA look pretty good, particularly since it covers a lot more with MUCH lower deductibles.
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Old 01-21-2015, 01:36 PM
 
Location: Dover, DE
1,803 posts, read 3,840,802 times
Reputation: 2499
Here is the best site that I have found for what is included in the MAGI. It lists what to add back into the AGI to get the MAGI from where the subsidies are calculated.

Modified Adjusted Gross Income under the Affordable Care Act | Center for Labor Research and Education

Here is a great subsidy calculator site: Health Insurance Marketplace Calculator | The Henry J. Kaiser Family Foundation


Both DH and I are currently on ACA as due to pre-existing conditions we were refused individual coverage after my COBRA ran out. We went a year without and finally was able to get coverage last year. Thank goodness because I had hip replacement surgery in November that went bad.....still dealing with the fallout almost 3 months later.....and it would have cost us probably well over $100K for everything including all the follow-up visits, meds, extra testing, and home health therapy. And more is to come. I thank God everyday that I was able to get it.

We do get some subsidy but this year, although we received about the same subsidy (my income going up due to SS, DH going down due to less work) our premium part that we pay took quite a jump. But still doable and will hold us until we reach 65. Our BC/BS has different levels of silver plans depending on what percentage of poverty level you are. Each one has a different deductible and max out of pocket, which is nice. It was nice to know that once we hit the max last year everything else was paid for 100%.
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Old 01-22-2015, 05:58 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,687 posts, read 40,050,764 times
Reputation: 23831
Quote:
Originally Posted by rothbear View Post
Here is the best site that I have found for what is included in the MAGI. It lists what to add back into the AGI to get the MAGI from where the subsidies are calculated.

Modified Adjusted Gross Income under the Affordable Care Act | Center for Labor Research and Education

Here is a great subsidy calculator site: Health Insurance Marketplace Calculator | The Henry J. Kaiser Family Foundation


Both DH and I are currently on ACA as due to pre-existing conditions we were refused individual coverage after my COBRA ran out. ///

We do get some subsidy but this year, although we received about the same subsidy...our premium part that we pay took quite a jump. But still doable and will hold us until we reach 65. ....
thanks for the concise info from the 'real world!'.

HC is truly a 'gotcha' in USA (Availability and cost).

ACA is a 'first step', but not sustainable. I trust the magnitude of the problem will keep some form of HC available for the next many yrs to age 65.

I will continue to use Medi-vacations and try to keep a minimal cost plan, tho the GOV is pulling out my options. (Due to GOV intervention, I have lost 3 affordable options since retirement / retrenchment at age 49 (with 32 yrs service). )

I have been forced to add 4 investment props this yr to cover increased 'fixed costs' (Insur / taxes). I use investment props, as they are somewhat inflation protected (Rental income goes up (I hope..) but never the same rate as medical expense as we age).

* Medi-vacations... what Europe has done for decades.
http://www.meditravels.org/
http://www.medivacation.com/
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