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Old 03-25-2015, 01:17 AM
 
2,429 posts, read 3,227,010 times
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Picking up on other thread that have touched on related topics....

1) Anybody else decided their just going to keep working to 65 just for the health care and to get to Medicare age?
2) How have retirees here found Obamacare? The coverage? The cost? The process?

1a) My retirement, hopefully is 8-10 years away but I think Iíve already decided that if I canít afford health insurance at age 62 retirement Ė Iím just going to keep working just to get to 65. Unless I retire and can get a part time job just to cover paying for the health insurance. (I HOPE Iíll have those options)

My financial planner says I should be able to swing retiring at 62. (I donít think he was thinking about including health care costs which most people DO NOT think about when you have work subsidized health care) And as some have pointed out -- who can imagine now what the health care and health insurance landscape will be 8-10 years from now? (and do we WANT to imagine itL)

2a) Your experiences with Obamacare?
When I was a kid the go-to insurance in our area was good old ďBlue Cross and Blue Shield.Ē I think Iíd sacrifice to get my own individual policy before I touch Obama care with a 50-foot pole. So how has Obamacare worked for you?
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Old 03-25-2015, 06:09 AM
 
Location: Idaho
4,629 posts, read 4,475,135 times
Reputation: 9061
Quote:
1) Anybody else decided their just going to keep working to 65 just for the health care and to get to Medicare age?
I have decided to retire at 65, for the specific reason you cite. A retiree benefit from my employer will pay for a medigap or medicare advantage plan. A year and a couple months to go.

Quote:
2) How have retirees here found Obamacare? The coverage? The cost? The process?
Not applicable. Not having to be concerned with the ACA is my main reason for retiring at 65.
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Old 03-25-2015, 06:24 AM
 
Location: NC
6,571 posts, read 7,996,310 times
Reputation: 13471
Work at least one more year than you 'want' to. It will make a real difference in your retirement security. That last year is an easy one, knowing you are just about ready to leave the 'rat race'. Unless you have health issues, or course. That being said, if you have $1M in savings you might be okay at 62.
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Old 03-25-2015, 06:32 AM
 
Location: Eastern UP of Michigan
1,202 posts, read 683,237 times
Reputation: 1271
Quote:
Originally Posted by rdflk View Post
Picking up on other thread that have touched on related topics....

1) Anybody else decided their just going to keep working to 65 just for the health care and to get to Medicare age?
2) How have retirees here found Obamacare? The coverage? The cost? The process?

1a) My retirement, hopefully is 8-10 years away but I think Iíve already decided that if I canít afford health insurance at age 62 retirement Ė Iím just going to keep working just to get to 65. Unless I retire and can get a part time job just to cover paying for the health insurance. (I HOPE Iíll have those options)

My financial planner says I should be able to swing retiring at 62. (I donít think he was thinking about including health care costs which most people DO NOT think about when you have work subsidized health care) And as some have pointed out -- who can imagine now what the health care and health insurance landscape will be 8-10 years from now? (and do we WANT to imagine itL)

2a) Your experiences with Obamacare?
When I was a kid the go-to insurance in our area was good old ďBlue Cross and Blue Shield.Ē I think Iíd sacrifice to get my own individual policy before I touch Obama care with a 50-foot pole. So how has Obamacare worked for you?



You can get a good ol fashion BC/BS on Obamacare for the same price you pay if you went to a broker. Old fashioned BCBS is Obamacare and the reverse is also true.
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Old 03-25-2015, 08:35 AM
 
13,322 posts, read 25,578,684 times
Reputation: 20520
In my state, we have the original Romneycare. It offers me no financial advantage at the retirement income I would have, although both the Mass. version and the federal ACA versions do offer the great advantage of not being able to turn one down for pre-existing conditions.

I am troubled by the poster who thinks the "Obamacare" is something other than tiered healthcare plans with subsidies for lower incomes. No wonder people are against it, with that lack of understanding. Is that like "Keep your government hands off my Medicare?!"

I have the fortune of being able to work part-time with pro-rated benefits and pay for about 50 percent of a very good HMO plan. Unless I was unable to work, I'd be a fool to retire before 65 and pay twice that for the same plan. (Has nothing to do with prices under Romneycare, just that I can't be turned down for pre-existing- a point that every person should be thrilled about).
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Old 03-25-2015, 09:40 AM
 
8,860 posts, read 5,143,460 times
Reputation: 10144
Quote:
Originally Posted by JIMANDTHOM View Post
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You can get a good ol fashion BC/BS on Obamacare for the same price you pay if you went to a broker. Old fashioned BCBS is Obamacare and the reverse is also true.
Yes, but check with your doctor(s) first. Many will not accept the BC plan sold on the healthcare exchange. Nice, huh?
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Old 03-25-2015, 10:03 AM
mlb
 
Location: North Monterey County
3,190 posts, read 2,860,347 times
Reputation: 4887
I plan on working at least until 65 - not just for the health insurance but so that the state retirement pension fund doesn't ding me for "leaving early". They deduct 3% per year for each year you leave early between 60 and 65. 7% per year if you leave before 60.


I will have 26.5 years of service at that time. I may hangout until I reach the golden 27 years.

HOWEVER, my spouse will be 2.5 years younger than I so we'll have to figure out something for him health insurance-wise.

I am NOT staying in the workforce to pay for his health insurance.
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Old 03-25-2015, 02:53 PM
 
2,429 posts, read 3,227,010 times
Reputation: 3330
Quote:
I am troubled by the poster who thinks the "Obamacare" is something other than tiered healthcare plans with subsidies for lower incomes.
Yes you're correct. of course. Obamacare is NOT the insurance coverage itself.
It's the subsidy/premium "marketplace" for getting coverage that you pay for subsidized based on income.

So can I call up BC/BS and say I'd like this policy with x coverage, and if I have the money to pay for it...that's between BC/BS and me, right? I can get my own individual policy (premium based on various factors of course) that I pay for no gov't involvement...just like years ago? THAT I might do at 62, if I can afford it. And I can still get a better policy than the minimum BC says must be offered, correct?

Quote:
They deduct 3% per year for each year you leave early between 60 and 65. 7% per year if you leave before 60.
You're dinged if you start COLLECTING early. Right? You can leave as early as you want, as long as you don't start collecting until then? Of course you wouldn't have been putting anything INTO the system those last years either? SO either way it's less than staying until 65, but for different reasons? No?


Quote:
Yes, but check with your doctor(s) first. Many will not accept the BC plan sold on the healthcare exchange. Nice, huh?
Oooh so THAT"S why when I made an appointment with a specialist today, and asked if they took xxxx health insurance...she asked me if it was through my job? I said it was and she said, "OK, yes we do."

Last edited by rdflk; 03-25-2015 at 03:05 PM..
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Old 03-25-2015, 03:04 PM
 
Location: OH>IL>CO>CT
5,238 posts, read 8,417,308 times
Reputation: 7191
Quote:
Originally Posted by rdflk View Post
Yes you're correct. of course. Obamacare is NOT the insurance coverage itself.
It's the subsidy/premium "marketplace" for getting coverage that you pay for subsidized based on income.

So can I call up BC/BS and say I'd like this policy with x coverage, and if I have the money to pay for it...that's between BC/BS and me, right? I can get my own individual policy (premium based on various factors of course) that I pay for no gov't involvement...just like years ago? THAT I might do at 62, if I can afford it.

You're dinged if you start COLLECTING early. Right? You can leave as early as you want, as long as you don't start collecting until then? Of course you wouldn't have been putting anything INTO the system those last years either? SO either way it's less than staying until 65, but for different reasons? No?


Oooh so THAT"S why when I made an appointment with a specialist today, and asked if they took xxxx health insurance...she asked me if it was through my job? I said it was and she said, "OK, yes we do."
Some details re "private plans" here:

https://www.healthcare.gov/coverage-...private-plans/

Note the "Note" at bottom of page.
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Old 03-25-2015, 03:04 PM
 
48,516 posts, read 83,978,960 times
Reputation: 18050
Quote:
Originally Posted by brightdoglover View Post
In my state, we have the original Romneycare. It offers me no financial advantage at the retirement income I would have, although both the Mass. version and the federal ACA versions do offer the great advantage of not being able to turn one down for pre-existing conditions.

I am troubled by the poster who thinks the "Obamacare" is something other than tiered healthcare plans with subsidies for lower incomes. No wonder people are against it, with that lack of understanding. Is that like "Keep your government hands off my Medicare?!"

I have the fortune of being able to work part-time with pro-rated benefits and pay for about 50 percent of a very good HMO plan. Unless I was unable to work, I'd be a fool to retire before 65 and pay twice that for the same plan. (Has nothing to do with prices under Romneycare, just that I can't be turned down for pre-existing- a point that every person should be thrilled about).
ACA is in fact wealth transfer plan and simple; not a same cost for all.
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