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I checked it for a 52 year old friend whose income was 120K
I logged in to healthcare.gov for him and chose the 3 rd least expensive and it was $700/ month for him.
The thread title says you're talking about people retiring.
Is this person considering retiring, and will his income - and therefore his premium - remain the same when he does so?
Or did you start this thread in this forum just to complain about the ACA?
Quote:
Originally Posted by jane_sm1th73
With due respect, $700/mo ($8400/yr) is a lot of dough if your income has stopped.
The 700 is the premium for a man who makes $120k (and presumably doesn't have group coverage).
If he is considering voluntary retirement, he needs to factor health care costs into that decision. If he can't afford it, he will need to postpone retirement until he can or until Medicare kicks in.
If retirement is voluntary and his income stops (your term), his premium won't be $700.
I checked it for a 52 year old friend whose income was 120K
I logged in to healthcare.gov for him and chose the 3 rd least expensive and it was $700/ month for him.
The thread title says you're talking about people retiring.
Is this person considering retiring, and will his income - and therefore his premium - remain the same when he does so? What would his premium had been pre-ACA?
Or did you start this thread in this forum just to complain about the ACA?
Quote:
Originally Posted by jane_sm1th73
With due respect, $700/mo ($8400/yr) is a lot of dough if your income has stopped.
The 700 is the premium for a man who makes $120k (and presumably doesn't have group coverage).
If he is considering voluntary retirement, he needs to factor health care costs into that decision. If he can't afford it, he will need to postpone retirement until he can afford it or until Medicare kicks in. That was as true pre-ACA as it is now.
If retirement is involuntary and his income stops (your term), his premium won't be $700.
Last edited by biscuitmom; 11-03-2015 at 10:56 PM..
I have a friend who has a modest income and works 30 to 40 hours a week on the job, seasonally...until
the winter kicks in. He is thankful for ObamaCare because he could not afford medical insurance without it. He pays a small portion of the normal cost. I know other people who have to pay much more than him are quite happy because they were unable to get coverage anywhere else before! Those are positives for sure. As to some people not wanting to pay for full price because they feel they still cannot afford it, that is another reason for evolving into Universal Health Care, or medicare for all U S citizens.
Other countries...France, England, Canada, and on and on...are just so used to it they cannot imagine going without it. There is some insurance available in England to get more of a Cadillac plan, I heard...but most people will tell you they are glad they have it! I had to pay a bunch of money to the overpriced emergency room service even though I was insured! I just needed a sling and a prescription...a break in the shoulder, but it still came out to be about $6500!! Included xrays of course, but still! To all the right wing banter against universal health care because there are supposed holes in the system elsewhere...I say there is nothing worse than the stupid insurance profit making system we have! For alot of people who otherwise could not afford health insurance the Obama care is good as for people who cannot get insurance otherwise. Beyond that there are problems because it is still dealing with the stupid for profit insurance system. Frustrating that as long as so many people can get fairly good insurance through their company or organization...they will not go for universal healthcare. Make them each have to pay the true cost of the insurance instead of the company/organization and we would have universal health care almost instantly!
The typical early retiree either has a public sector job or a union/corporate job with a grandfathered defined-benefit pension and health care benefits for early retirees. If you're private sector with nothing but what you have in an IRA/401(k) portfolio, it's challenging unless you've been maxing out your contribution your entire work life, had an employer with a generous match, and invested the money somewhere that it grew.
Or they're like me, no pension but substantial savings and a part-time professional job plus consulting lined up when I quit at 55.
You could retire in your 50s overseas and pay a very small amount for great health care insurance that is comprehensive. Health insurance in Mexico for Americans is about $300 a month with very few out of pocket costs.
The premiums for anybody over 55 is extremely high
Except for the rich, how do these people for health insurance?
We are in our 50's and I plan to retire in a few months and wife is on a LOA and doesn't plan on going back to work.
1. Have a paid off house and 2 paid off new cars.
2. Have substantial savings
3. Have investment and pension income of about $55K/yr (thus qualifying for a substantially subsidized policy)
4. Have some income that isn't taxed
At an income of $55K/yr our policy under would be $400/mo.
We are not rich (in our minds) and started life with nothing but student loan debts but both worked long and hard, disciplined to spend less than we made so there was money to invest, and worked at making investments to pay off.
You could retire in your 50s overseas and pay a very small amount for great health care insurance that is comprehensive. Health insurance in Mexico for Americans is about $300 a month with very few out of pocket costs.
I'm working right now in Peru and we definitely could have retired a few years ago and lived on our pension and investment income quite easily as the COL is about half or less compared to where we live in the USA. But we have 2 grandsons and can now afford to retire where we live in USA so there is no need to do this.
It's not just health care where you will see significant savings, it's on any services performed locally will be much cheaper than comparable services in the USA.
No, in this country it's best to be poor where you freedom is subsidized by other people or rich where you can pay for your freedom.
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