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Old 08-03-2017, 01:18 PM
 
519 posts, read 432,117 times
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Quote:
Originally Posted by mathjak107 View Post
in the tristate area
well if you are a retired couple 1 million can safely generate 40k before taxes pretax . after taxes 40-50k barely covers the basic cost of living here for anything but a low end life style . our health insurance right now would take 12k in after tax dollars of that 40-50k and we have a 4000 deductible too .

1 million is really no better than a 40 or 45k pension pretax when it comes to cash flow ..
Got nothing to do with my point.
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Old 08-03-2017, 02:07 PM
 
12,825 posts, read 20,180,279 times
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Quote:
Originally Posted by NewbieHere View Post
Strawman arguments. Why no insurance? The most expensive health insurance is less than $50k a year.
Right, however, in order to get a realistic assessment of total cost for an insured person, you need to start out with the street price then work back from there.

How many insurance plans have no deductible, and cover 100%, prior to reaching annual out of pocket max?
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Old 08-03-2017, 02:27 PM
 
71,991 posts, read 72,020,102 times
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Quote:
Originally Posted by larsm View Post
Got nothing to do with my point.
it has everything to do with your point . having a million bucks and needing it to generate a life time of income does not leave much to live on if you are in a high cost of living area and pay 12k a year as a couple for health insurance on a 40k income from your portfolio before taxes.
i can tell you our rent and health insurance /long term care insurance exceed that amount by themselves .

so the answer is there are a lot of reasons someone with a million in assets can't afford health insurance . it is the same reason someone with a 40k pension in a high cost of living area would struggle to pay it .the cash flow would be the same .
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Old 08-03-2017, 02:35 PM
 
519 posts, read 432,117 times
Reputation: 981
Quote:
Originally Posted by mathjak107 View Post
it has everything to do with your point . having a million bucks and needing it to generate a life time of income does not leave much to live on if you are in a high cost of living area and pay 12k a year as a couple for health insurance on a 40k income from your portfolio before taxes.
i can tell you our rent and health insurance /long term care insurance exceed that amount by themselves .

so the answer is there are a lot of reasons someone with a million in assets can't afford health insurance . it is the same reason someone with a 40k pension in a high cost of living area would struggle to pay it .the cash flow would be the same .
Go read my original comment. Your point has zero to do with point. She can afford to bridge 6 years to Medicare. Full stop. Could it be expensive? Yes. Will it send her to the bread line... NO.
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Old 08-03-2017, 02:39 PM
 
71,991 posts, read 72,020,102 times
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i am referring to your comment not hers . a 40k income stream off a million pretax does not leave much to live on if insurance for a couple is 12k a year .

Quote:
Originally Posted by larsm View Post
There is zero reason why someone with $1-2 million does not have the resources to pay for health insurance. As I said, even with crappy insurance (expensive with high deductible) what's the bill? $50,000 a year will certainly cover it unless there are some very unusual circumstances...
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Old 08-03-2017, 02:46 PM
 
660 posts, read 326,612 times
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Quote:
Originally Posted by NewbieHere View Post
People like to exaggerate online.
I've noticed your communication style is very confrontational. There is no need to be mean spirited on C-D.
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Old 08-03-2017, 02:51 PM
 
12,825 posts, read 20,180,279 times
Reputation: 10910
Quote:
Originally Posted by larsm View Post
Go read my original comment. Your point has zero to do with point. She can afford to bridge 6 years to Medicare. Full stop. Could it be expensive? Yes. Will it send her to the bread line... NO.
Are you assuming burning off assets as opposed to living off of the income of assets?
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Old 08-03-2017, 02:53 PM
 
71,991 posts, read 72,020,102 times
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he would have to be , but that means you would have other income to live on so it is a different story than just having the assets referred to .
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Old 08-03-2017, 02:54 PM
 
660 posts, read 326,612 times
Reputation: 1974
Quote:
Originally Posted by larsm View Post
Go read my original comment. Your point has zero to do with point. She can afford to bridge 6 years to Medicare. Full stop. Could it be expensive? Yes. Will it send her to the bread line... NO.
Mathjack has made a valid point, it just doesn't set well with you. You don't know my health history and what I am facing in the future. Maybe I won't be on the breadline but I know I will only be able to afford a much reduced lifestyle than what I am used to. I am only in the beginning year of retirement so like the OP I am still exploring options. Can you bear with us people who don't have all the answers yet?
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Old 08-03-2017, 03:21 PM
 
519 posts, read 432,117 times
Reputation: 981
One more time with feeling. BabyJuly said she was scared to death (I am paraphrasing), and others should be as well, about the prospects of bridging healthcare for 6 years to Medicare with $1-2 million stash. That is totally ridiculous.

Feel free to spin out of control with your collective analysis (that includes mathjak), but it is nonsense.

I'm out...
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