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.
I am completely happy with Medicare in the U.S. and a supplement that is about $130/month. There's an annual deductible of a couple of hundred dollars on the Medicare. While I haven't had anything big, like a serious illness or surgery or anything, I haven't spent beyond those deductibles and supplement payment.
My dental insurance, separate, is pretty skimpy. Vision and hearing aids not covered, either, except for a wellness eye exam every two years.
I feel the same...
Hernia, gall bladder, kidney stone and recently, even a heart bypass - it's all been covered. I would not want surgery in one of the popular retirement destinations. I have done enough international travel to be certain that the best care and facilities are right here in America.
Retirees should keep supplemental insurance. And be sure to get overseas coverage! It costs almost nothing extra and when my gall bladder sent me to the hospital in Bermuda, my supplemental insurance picked up the tab. Medicare would not.
Re: LTCi, I was thinking we put the money in HSA (for myself and my husband), so there's no danger of using it for anything else but future end of life costs, and invest the money in high yield bonds, which is relatively safer than stocks.
But you definitely gave us a lot to think about (and calculate). Thank you.
I have lots of crowns and my corporate dental insurance has never paid for more than 50% of the *approved* cost of each crown. Same is true now too. Anything beyond 2 cleanings and dentist checks/year has always had a copay, going back decades that I can remember. To me it's worth it to carry dental insurance and the cost isn't too high.
That was the case with my dental insurance when working, too. I started dental insurance in my 30s and was ever grateful for it thereafter. Just not on my radar screen when I was younger.
Re: LTCi, I was thinking we put the money in HSA (for myself and my husband), so there's no danger of using it for anything else but future end of life costs, and invest the money in high yield bonds, which is relatively safer than stocks.
But you definitely gave us a lot to think about (and calculate). Thank you.
Do you have enough in it for care tomorrow for years or life if need be ? How about if both need it at some point ? Bad crap does not wait for your timetable .so you need coverage day one many times .
In these parts they run 120-130k a year for one
High yield bonds have been beaten up bad in downturns..mine at one point fell 18%.
Plus if individual bonds , even if high yield , if inflation rises those rate have you loosing ground.
How do you know the hsa won’t have to be used for regular medical expenses ?
I exhausted mine when I needed dental implants.
You can see why self insuring has lots of baggage , problems and issues ...plus if nothing happens you have a huge pile of money sitting unused because it is powder that always has to be kept dry.
That in itself is a big reason why I won’t self insure.. way to much has to sit unused forever
Last edited by mathjak107; 03-08-2021 at 08:01 AM..
Do you have enough in it for care tomorrow for years or life if need be ? How about if both need it at some point ? Bad crap does not wait for your timetable .so you need coverage day one many times .
In these parts they run 120-130k a year for one
High yield bonds have been beaten up bad in downturns..mine at one point fell 18%.
Plus if individual bonds , even if high yield , if inflation rises those rate have you loosing ground.
How do you know the hsa won’t have to be used for regular medical expenses ?
I exhausted mine when I needed dental implants.
You can see why self insuring has lots of baggage , problems and issues ...plus if nothing happens you have a huge pile of money sitting unused because it is powder that always has to be kept dry.
That in itself is a big reason why I won’t self insure.. way to much has to sit unused forever
I don’t really care what others do but after giving a lot of thought to self insuring and speaking to some of the most knowledgeable people on the subject I realized it really wasn’t wise for us to pretend we are an insurance company .
There are so many aspects to self insuring that few actually consider the right angles and basically just are looking at one big pile of money invested as business as usual with nothing done to make them in to an insurer ....estate and elder law attorneys love them
That was the case with my dental insurance when working, too. I started dental insurance in my 30s and was ever grateful for it thereafter. Just not on my radar screen when I was younger.
I can't remember a time when I didn't have dental insurance once I started working full time (early 20's). Ditto health insurance either. Health & dental insurance is just one of those never skip items for me.
I don't know why you were holding your breath for those 3 months -- you were fully covered under that plan, everything you'd need would be available for you, including low-cost prescriptions, all kinds of free preventative testing, and coverage limits for serious or life-threatening illnesses, without having to buy multiple policies to cover gaps.
We went from paying $273 a month to $22. It was Open Enrollment. From End of the year to Medicare in April we needed coverage.
There were high deductibles. We prefer to stay out of doctor’s offices if we can.
I don’t know where “They” get that $295,000 figure...
It is always wise to look at the source, as you point out. In this case, "they" is Fidelity, and they have an incentive to get people to get people to save. They do not have an incentive to publish "Truth" with a capital T; they have an incentive to market their services.
For two people they certainly are in the ball park at 295k ...the source is quite right.
People are not actually reading it .. they think it is for one person and that is wrong
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.
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.
