A Cautionary Tale of How Medical Expenses Can Hit One in Retirement (2015, state)

[earthlyfather]

Now in truth, we are nearly retired - end of 2013 - not retired. But, still this could have just as easily happened in 2014. The irony is that I am the one in "excellent" health. This is a tale of the wildcard that healthcare expenses can be in retirement.


Unanticipated expense - Replacement of ~ 20 year old crown, discovered in regular semi-annual check. Out of pocket expense, ~$600. The crown has been so trouble free, just forgot about it.

One tooth completely broken off, at the gum line, a second tooth dislocated with nerve and ligament damage, in a freak accident, involving new grand dog and grand children. Result will be a four tooth bridge to properly repair. Out of pocket expense, ~$5000. No way to anticipate.

Underestimated Expense - Been 'consulting' with a gastroenterologist for the past 16 years dues to family history of colo-rectal cancer and my own history of benign polyps. I didn't think to check to see if the anesthetist was in network. She been putting me under all these years, so it never occurred to me to check. Bad mistake! The new insurance company considered her out of network. A ~$900 bill, instead of ~$200. That plus the co-pay to the gastro... meant a total of ~$1,400, instead of ~$500.

Planned expense, but, still... - Replacement of aged - almost 6 years - hearing aids. Out of pocket expense, $2,500, for latest technology. Purchasing at Costco. This is my third set since 2001 and by far, the least expensive. Worth it though. They have kept me in the world.

Delayed expense; coming in 2014 - These old glasses are badly scratched, frames a bit wobbly, and the Rx prolly needs boosting. Definitely tired of seeing everything as if through Halloween cobwebs. What? Couple or three hundred buckaroos by the time that is all said and done.

Laugh, but be informed. All on my dime(sssssssssssssss).

[ABQ2015]

On another retirement forum that I read, members were asked about expenses in retirement that were a big surprise. The most common response was dental expenses, especially tooth implants.

[in_newengland]

Well, that's no surprise really. Medicare doesn't cover hearing aids or glasses or dental.

I just had a crown put on and where I live they cost at least $1000. My glasses were over $600 because I didn't want "the line" and I have a high prescription.

I have two friends who had to get hearing aids and they each paid over $4000.00. They don't know each other but each one said that you have to pay that much to get ones that work.

These expenses can be put on a credit card called Care Credit (well, I think they changed their name to something else) and you get a year, maybe two years to pay it off. As long as you don't miss a payment you pay ZERO interest.

What really worries me are hospital and ambulance charges and who knows what else if one of us had to be in a hospital and a place to recuperate. I've heard horror stories of people losing out due to serious illness requiring hospitalization or ongoing care.

[Sgoldie]

I've been buying my glasses thru an online outlet with good results at about a third the cost. You do need an RX to order though and it should include the distance between your pupils which they normally don't give unless you ask it be put on there. (Easier than measuring yourself which you can do too)

[old_cold]

Originally Posted by in_newengland

Well, that's no surprise really. Medicare doesn't cover hearing aids or glasses or dental.

I just had a crown put on and where I live they cost at least $1000. My glasses were over $600 because I didn't want "the line" and I have a high prescription.

I have two friends who had to get hearing aids and they each paid over $4000.00. They don't know each other but each one said that you have to pay that much to get ones that work.

These expenses can be put on a credit card called Care Credit (well, I think they changed their name to something else) and you get a year, maybe two years to pay it off. As long as you don't miss a payment you pay ZERO interest.

What really worries me are hospital and ambulance charges and who knows what else if one of us had to be in a hospital and a place to recuperate. I've heard horror stories of people losing out due to serious illness requiring hospitalization or ongoing care.

May I ask what the circumstances of these horror stories are about hospitalizations if one was on Medicare?
Side question in_newengland.....are you retired on SS and 65 or over ?

[earthlyfather]

We have the heat and humidity in the South, but eye glasses are cheap. Dental too for the most part. Considered implant, for longevity reasons, but the nature of the injury - the possibility of the dislocated tooth roots dying and ligament damage not healing - ruled that out, as just one implant equals the cost of a four tooth bridge.

As to hearing aids; four thousand is not the best technology, especially in New England. The Costco Lirkland brand is state of the art technology at one third the cost. Tell your friends, who wear hearing aids, to consider that or Sam's Club as an option, when they have to replace their aids. If they take extra good care of them, then they will squeeze six or seven years out of them, like I did. If not, then two or three years max.

Originally Posted by in_newengland

Well, that's no surprise really. Medicare doesn't cover hearing aids or glasses or dental.

I just had a crown put on and where I live they cost at least $1000. My glasses were over $600 because I didn't want "the line" and I have a high prescription.

I have two friends who had to get hearing aids and they each paid over $4000.00. They don't know each other but each one said that you have to pay that much to get ones that work.

These expenses can be put on a credit card called Care Credit (well, I think they changed their name to something else) and you get a year, maybe two years to pay it off. As long as you don't miss a payment you pay ZERO interest.

What really worries me are hospital and ambulance charges and who knows what else if one of us had to be in a hospital and a place to recuperate. I've heard horror stories of people losing out due to serious illness requiring hospitalization or ongoing care.

[saralvr]

These are just medical expenses that are surprises...what about everyday life surprise expenses? I am not retired yet, but last month had to replace all 4 tires in my 2.5 y/o car. On Monday I had to buy a new furnace, ($6000). And I also do not have eye coverage and need new glasses almost yearly now for the past several years as my eyes are constantly changing. Several hundred at least for them. So, yes, we have to be prepared for these budget busters. But, that is whether or not we are in retirement. Just hurts more when we are on a fixed budget.

[claudhopper]

Originally Posted by earthlyfather

Now in truth, we are nearly retired - end of 2013 - not retired. But, still this could have just as easily happened in 2014. The irony is that I am the one in "excellent" health. This is a tale of the wildcard that healthcare expenses can be in retirement.


Unanticipated expense - Replacement of ~ 20 year old crown, discovered in regular semi-annual check. Out of pocket expense, ~$600. The crown has been so trouble free, just forgot about it.

One tooth completely broken off, at the gum line, a second tooth dislocated with nerve and ligament damage, in a freak accident, involving new grand dog and grand children. Result will be a four tooth bridge to properly repair. Out of pocket expense, ~$5000. No way to anticipate.

Underestimated Expense - Been 'consulting' with a gastroenterologist for the past 16 years dues to family history of colo-rectal cancer and my own history of benign polyps. I didn't think to check to see if the anesthetist was in network. She been putting me under all these years, so it never occurred to me to check. Bad mistake! The new insurance company considered her out of network. A ~$900 bill, instead of ~$200. That plus the co-pay to the gastro... meant a total of ~$1,400, instead of ~$500.

Planned expense, but, still... - Replacement of aged - almost 6 years - hearing aids. Out of pocket expense, $2,500, for latest technology. Purchasing at Costco. This is my third set since 2001 and by far, the least expensive. Worth it though. They have kept me in the world.

Delayed expense; coming in 2014 - These old glasses are badly scratched, frames a bit wobbly, and the Rx prolly needs boosting. Definitely tired of seeing everything as if through Halloween cobwebs. What? Couple or three hundred buckaroos by the time that is all said and done.

Laugh, but be informed. All on my dime(sssssssssssssss).

My new glasses cost over $600., I couldn't believe it! So when they ask, do you want this n that, ask how much before you say yes to the extras. I like them now, but it will be a few years before this eye doctor sees me again.

[Caladium]

Costco is a great deal for eyeglasses, in fact I think it's the best price in town. My husband has severe nystagmus and we were afraid to try Costco for years because his prescription is tricky. Instead we used a pricey place that our ophthalmalogist liked. Unfortunately they messed up his prescription a few times and we had to keep returning his glasses to get it right. Tried Costco on the advice of a friend, and to our surprise they got it right the first time. We've now gotten glasses from them twice, and have been happy both times. Don't know if we just got lucky, but I can say we're really happy with Costco's eyeglasses right now.

[brainwashed_in_church]

Originally Posted by ABQ2015

On another retirement forum that I read, members were asked about expenses in retirement that were a big surprise. The most common response was dental expenses, especially tooth implants.

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