U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 03-15-2017, 07:11 PM
 
29,779 posts, read 34,867,277 times
Reputation: 11705

Advertisements

Quote:
Originally Posted by loves2read View Post
Just do the math--
Most people complain that LTCI rates are too expensive now--for people who have had policies and get older and see increases from their carriers...
Many people might pay for 10+ yrs and then large increases because carriers didn't run their numbers correctly and price higher initially...
Frankly I think they do that deliberately because most people who start with LTCI policy in their 50s rarely need it until they get into later 70s maybe--so they pay and pay and get priced out and drop the policy before the clients can't actually USE the policy...

What do you think will happen once these new insurance costs/coverages are factored into LTCI coverage???
People will see even higher rates for LTCI because insurance is going to be covering less and people will get basic care policies and are likely to have more serious issues develop that are not treated correctly...so likely to NEED LTCI sooner rather than later...

We have had LTCI for about 10 yrs--John Hancock--which stopped selling new coverage this year...mainly to get it while we were healthier, and in case of so something unexpected/catastrophic--like car accident or stroke
We have had small increases a couple of times because we chose a moderate--not Cadillac--type of coverage--
More to offset the costs than totally cover any nursing home costs

People won't have the money to pay the 4K a year for two people to carry LTCI if they are paying heavier premiums for health care coverage....
Buy at ayounger age ( thirties) and I said those who could afford and don't buy. Otherwise if Medicaid is reduced their options are? However what ever works for them . Hopefully things won't change. Long Term care cost could go down as right now facilities that take Medicaid in addition to full pay are charging full pay customers more to help compensate the fact that Medicaid can pay less than their costs. Not sure if you had looked at where five star nursing homes in your area are. In many areas that are part of CCRC's that don't have to take Medicaid. In the newly emerging pay as you go CCRC models the monthly cost for high end CCRC's can be below the area average as they are all full pay and don't take Medicaid. That is true of the CCRC we have become future residents of .

Last edited by TuborgP; 03-15-2017 at 07:19 PM..
Reply With Quote Quick reply to this message

 
Old 03-15-2017, 07:48 PM
 
13,902 posts, read 7,400,560 times
Reputation: 25389
Quote:
Originally Posted by TuborgP View Post
Don't argue with me argue with the link. Which is CNBC and Pew Research. Did you actually read the link and their methodology? If so you and Pew Research are on different pages and that happens. Readers will just have to read the link and your post and decide for themselves.

Here's how much you have to earn to be considered middle class
What does a link to an article about someone's opinion about "what income is middle class" have to do with retirees, who are not working, affording health care?

Obviously, none at all.

I'm talking about household net worth, not income. If you're 60, with no defined benefit pension, and 70th percentile household net worth of $400K, there is no way in the world you can early retire once Paul Ryan "fixes" ACA. You'd be looking at $10K+ in health insurance costs and $20K+ if you're married. You have assets so you can't qualify for Medicaid.
Reply With Quote Quick reply to this message
 
Old 03-15-2017, 08:18 PM
 
29,779 posts, read 34,867,277 times
Reputation: 11705
Quote:
Originally Posted by GeoffD View Post
What does a link to an article about someone's opinion about "what income is middle class" have to do with retirees, who are not working, affording health care?

Obviously, none at all.

I'm talking about household net worth, not income. If you're 60, with no defined benefit pension, and 70th percentile household net worth of $400K, there is no way in the world you can early retire once Paul Ryan "fixes" ACA. You'd be looking at $10K+ in health insurance costs and $20K+ if you're married. You have assets so you can't qualify for Medicaid.
Sure. Did you bother to read the post I was responding to. You do realize you are admitting to changing what I said completely to argue a point. Have a go at it and leave me out

Last edited by TuborgP; 03-15-2017 at 08:42 PM..
Reply With Quote Quick reply to this message
 
Old 03-15-2017, 08:22 PM
 
Location: Washington State
18,522 posts, read 9,574,204 times
Reputation: 15782
Obamacare cost for wife and I was $1700/mo and we opted for Medi Share for $319/mo.
Reply With Quote Quick reply to this message
 
Old 03-15-2017, 09:36 PM
 
4,194 posts, read 2,489,371 times
Reputation: 1935
Quote:
Originally Posted by markg91359 View Post
One reform I advocate is taking all veterans out of "Tricare for Life" and putting them on medicare when they hit age 65. It would save the taxpayers a considerable amount of money. My understanding is that Tricare pays for medicare part B premiums and does some other things that the rest of us don't get.
I think when a veteran retiree reaches 65, and starts SS he is automatically enrolled in Part A, and is sent a bill for monthly payments of part B.
Reply With Quote Quick reply to this message
 
Old 03-16-2017, 01:39 AM
 
656 posts, read 309,979 times
Reputation: 1225
I have totally no idea where this thread went but as a person who got LTC in their 30s I definitely recommend looking into it. It was cheap and there was a paid up element built in even if you cancelled it. I would have to dig out the policy for specifics - it has been a long time since I read it.

And thanks to those of you who think we can just "try harder" for those of us who can't shovel out gravel all day at 64 or whatever. My blind cousin can just become an OTR trucker, and my friend with epilepsy can probably do roofing. . . Not sure why they never thought of that!

Last edited by ihatetodust; 03-16-2017 at 01:54 AM..
Reply With Quote Quick reply to this message
 
Old 03-16-2017, 03:45 AM
 
Location: R.I.
977 posts, read 605,084 times
Reputation: 4232
Quote:
Originally Posted by markg91359 View Post
One reform I advocate is taking all veterans out of "Tricare for Life" and putting them on medicare when they hit age 65. It would save the taxpayers a considerable amount of money. My understanding is that Tricare pays for medicare part B premiums and does some other things that the rest of us don't get.
Tricare for Life does not pay Medicare Part B premiums it pays Medicare deductibles. When a military retiree has Medicare A & B and Tricare for Life, Tricare become the 2nd payer source and basically acts as a Medicare supplement. All veterans are not eligible for Tricare for Life only retired military veterans and their spouses are eligible. Those vets that are not eligible for Tricare for Life have the option to receive care at the VA, but if their income is a penny above the income threshold which is very low, or they do not have service connected disabilities that would exempt them from copays, they will be required to pay them for physician visits, other services, and prescriptions which can be a considerable expense for those vets that take multiple medications and see various physicians on a frequent basis.
Reply With Quote Quick reply to this message
 
Old 03-16-2017, 07:31 AM
 
Location: Tennessee
23,579 posts, read 17,561,360 times
Reputation: 27660
Quote:
Originally Posted by TuborgP View Post
Buy at ayounger age ( thirties) and I said those who could afford and don't buy. Otherwise if Medicaid is reduced their options are? However what ever works for them . Hopefully things won't change. Long Term care cost could go down as right now facilities that take Medicaid in addition to full pay are charging full pay customers more to help compensate the fact that Medicaid can pay less than their costs. Not sure if you had looked at where five star nursing homes in your area are. In many areas that are part of CCRC's that don't have to take Medicaid. In the newly emerging pay as you go CCRC models the monthly cost for high end CCRC's can be below the area average as they are all full pay and don't take Medicaid. That is true of the CCRC we have become future residents of .
A big part of the problem is that younger, healthy people like myself are simply opting out of the ACA policies and, frankly, any sort of medical insurance programs altogether if it's not provided by their employers - and paying the penalties and playing Russian roulette with their financial futures.

Working people in professional level jobs are almost always going to be covered (at least as it stands now with the 50+ employee mandate) by employer provided medical insurance. The affluent are likely paying less for coverage because their employers chip in for the bulk of it, and also have better coverage, compared to those stuck on the exchanges. Unless their employer yanks their coverage, and many will with the mandate being removed, these people probably have things as good as it can get under the current system. My coverage is so-so - it is affordable on my portion of the monthly premium, but would be an inconvenience to meet the deductible. Still, it won't financially ruin me if something serious did occur.

The ACA silver plan I was on back in 2013 was the worst coverage I recall having before or since, and that was before things really hit the fan. Many of the people on the exchanges are low income earners, but make too much to qualify for Medicaid, especially in states that didn't expand Medicaid coverage. When you're making under $21,000/year like I did in 2013, you can barely afford to make ends meet in the most basic of ways - layering on another several hundred a month in health care premiums plus thousands in deductibles just to get to your first dollar of coverage is not viable. That's why people forewent coverage and just paid the penalty. Yes, technically they had access to insurance, but it was unaffordable for most of the folks on the exchanges.

What you're left with on the exchanges are those making too much for Medicaid (the very poor are taken care of that way), but not enough to afford the premiums and deductibles comfortably. They're likely in crappy jobs with little to nothing in the way of benefits or stability. The people wanting coverage are those who are sick, can't do without, and have no other options, causing premiums to skyrocket and insurers to face heavy losses from this high risk, high cost candidate pool. Fewer people will have any insurance at all as insurers pull back due to unsustainable losses, this cost is then going to be shifted back onto the hospital systems, medical care providers, and patients, resulting in all of them ending up in a bath of red ink.

This is a good microcosm of what's happening in my area, which is chock full of the uninsured and unhealthy.

Humana exit may leave thousands without insurance in Tennessee - CNN.com
Reply With Quote Quick reply to this message
 
Old 03-16-2017, 08:45 AM
 
154 posts, read 401,101 times
Reputation: 301
In addition to looking at the annual health insurance premiums, one also has to consider the amount of the deductible. Otherwise, you are not getting the full and accurate picture.
Reply With Quote Quick reply to this message
 
Old 03-16-2017, 10:21 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,569 posts, read 39,952,759 times
Reputation: 23699
Quote:
Originally Posted by Tall Traveler View Post
Obamacare cost for wife and I was $1700/mo and we opted for Medi Share for $319/mo.
Medishare will not take 'pre-existing conditions', so if that is you.... try CHN
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top