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Do you think your geographic location has anything to do with the quotes you were receiving? I have considered relocation to the Bay Area but the cost of living is so darn high that it scares me to death. While I have “disposable” income now because I have no medical expenses due to perfect health, I worry that I would not be prepared if I were to get seriously ill.
I’ve been considering going the complete opposite direction and heading to Maine!
I had a COBRA plan for the gap~retired at 57 and counting the months until Medicare. $600 month for single coverage, but thankful to have it and the resources to pay for it.
When I was between jobs my COBRA cost was $1,000 a month for medical and dental coverage.
Like others I had the resources to pay for it -- but da mn if I didn't hate paying it.
I would have ....for a year or so. But I was only 57......and 57 to 65 was just too long to give up $1K or more a month.
The main reason I'm working today is to get healthcare. But isn't that true of many people -- say 55 and older who would retire in a heartbeat if not for the cost of health insurance. Many of us have financial resources. And more than most. But not so much we want to take out or use up more than a certain comfort level for health care just to get us to 65. I could afford my lifestyle -- but not that lifestyle AND health insurance for the 8 years until 65. So...I'm still a working stiff. Dreaming of retiring at 65.
I retired in 2004. Took out an Anthem policy that was very reasonable, under $200 a month. I was 42 at the time. Eventually changed to Kaiser when a couple of my doctors moved there.
By 2013, I was paying about $350 a month. Then came the ACA. My premiums nearly doubled, and the deductible went up to about 6k. I fought back. California is an expanded Medicaid state and I was in a position with my investments to drive my magi down. That’s what I did. Luckily, staying with my exact same Kaiser plan was a Medicaid option, and that’s what I elected.
I have the same doctors, same everything for zero cost since 2014. I probably have saved at least 50k over the last 4 years. I doubt the ACA will be around another nine years though.
I was in the public sector and I am able to stay on the employee plan at the employee rate until Medicare. They have changed the plan for this to be much less generous, but I was grandfathered in because of my years in the system.
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