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Unfortunately things change (even in civil service, but not as radically)
I did that 35 yrs ago with a great (private) employer (in Col Springs too!) probably one of the best... then... the founders died, profiteering became king, the most powerful woman in business took over as CEO... I got axed 6 wks prior to retirement...but I out lived her tenure she's now living on her yacht in Monte Carlo spending my retirement she loves to 'Double Down',
You can catch her speaking engagements at such venues as "Businesses for Social Responsibility" (and CBS Money )
Ah, a former fellow HP employee (or Agilent?).
You can sign on to a company with a good health care or retirement plan, but nothing (short of a union contract, and really not even then) can keep them from altering the deal. Look at what happened when Haliburton (helmed by Dick Cheney) bought Dresser and stripped $25 million out of the pension fund. All perfectly legal of course.
Howdy, coartist! I agree with you that a medical plan is paramont--or is that paramount--lol. But you do seem to assume a pension income along with the 457/401K. Would that it were so--but most people do not have defined benefit monthly pensions. Even bigger corporations have done away with them. My brother retired as a government worker--public employees do still get the defined benefit pension.
There is such a thing as a medical 401K arrangement that allows you to save tax free for medical expenses. People should look into that.
Most states offer group plans for individuals. Blue Cross and Blue Shield are pretty good for medigap with a rather high deductible. Go with a quality company. Yes, you should expect to shell out $500 or more per month and dental and eye will not be covered. But it will save you from catastrophic expense. If you have preconditions it complicates things. That is one thing the government will have to address--although I do not support socialized medicine I believe it is coming--would be nice to run some sort of hybrid program both government and private. Truth is medical care is so expensive and people live long enough to need the complicated procedures. The new technology is wonderful but it simply costs and costs. It will eventually have to be rationed more I fear--and the government will step in there.
End of story as you said, you definitely need health insurance as you can be easily wiped out. Get a high deductible and pray for the best. Also, keep as healthy as you can. And may I add, don't expose yourself to unnecessary hazzards. Take up recreation that is less demanding. I cringe when I see arthritic folks on the ski slopes or rappelling up mountain slopes. But it is my right, they say! Ok, but please be able to pay for it and not end up on medicaide and have the tax payer bail you out. God Bless.
I was not famillar with 401k health Insurance,that is very good Info and something for people planning to retire to look into
Your ability to get Medicare coverage varies with your birthday...for some younger folks, it is now 67 1/2. If you retire before then, you may have to get a supplemental plan a.k.a. Medigap coverage to bridge the time until you qualify. Most insurance companies offer this in various shapes and forms; some may or may not cover Rx.
This is incorrect. Medicare coverage starts at 65 or under 65 for some people who are disabled under Social Security. Social Security Retirement is what varies with your Birthday.
Medigap plans are only available to supplement Original Medicare which has gaps in coverage--that is why it is called medigap. It is not a plan for coverage until medicare takes effect. In addition, there are multiple other plans available to supplement medicare and medigap is not always the best choice.
The issue of Doctors not accepting Medicare has more to do with the original medicare plan. However, there are many other supplemental plans, such as Medicare Advantage Plans, HMOs, PPOs, where that is not an issue because the doctor reimbursement is not the from the original plan and the plans maintain a large network of contracted providers. Many areas of the country have good choices for these plans; some areas do not, generally rural and sparsely populated areas. That is where there is more of the issue of Patients who only have a choice of the Original Medicare Plan. However, in these areas supplemental plans such as medigap plans are available.
This brings up the issue of where to retire when you get old. Many areas of the country are not well served by hospitals, trauma centers, doctors or as I said additional medicare plans. You may enjoy living in a rural or rustic area but in old age, the distance to health care may be burdensome and your choices are limited, as well as prompt access for emergency care. Many people on retirement relocate from these areas to better served areas.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,705 posts, read 58,031,425 times
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Originally Posted by PNW-type-gal
.... Look at what happened when Haliburton (helmed by Dick Cheney) bought Dresser and stripped $25 million out of the pension fund. All perfectly legal of course.
Or Enron grabbing all those previously 'solid' energy companies... I have an 80 yr old uncle who went from being a millionaire to living on 'state aid' over that deal (and after 42 yrs of faithful 'night shift' service... ...social suicide). Ken Lay got the ez way out, and his wife... the luxurious way. I haven't heard her crying on TV anymore over having to loose another of her many 'vacation' homes Hope these folks sleep well at night. I had some elderly co-workers who were so distressed over losing their wealth, they got sick and died within 6 months of the great "Compaq" bail-out. Just a precursor of the 'subprime' event to come. Seems we (USA, via slime-bag lenders) really stuck it to some conservative foreign investors (such as pension funds and relief agencies...). I wouldn't expect their funds (what's left of them) to be invested back on this side of the pond for a few generations.
RE: 401k insurance... just the standard HSA program, definitely not a 401k, but only a little similar in management, been around for a few years, and a decent & somewhat affordable) stopgap, but not to be confused with a 'health benefit...' Some folks previously under benevolent care would not take too kindly to a $5000 annual deductible and measly $1m cap (depending on program). I'm headed to Thailand when I need to pay for 'procedures'... if I can survive the flight / row boat trip.
I don't know of any good answers to health care before age 65. Certainly it's a huge consideration in "retirement" before 65.
I know people who work part-time in hospitals (pro-rated health insurance, down to 16 hours a week) just for the health insurance.
This system of health insurance linked to employment is totally corrupt. Everyone is one layoff, one divorce, or one hurricane away from not having coverage.
I just moved to TN and I am having problems finding a doctor. I have Medicare and BCBS and I am still being declined by doctors who will not provide a reason. The only reason I can see is Medicare as I am a senior with normal senior problems. I pay my medical bills as I receive them. I have lived in DE, PA, NC, and SC also and never had a problem getting a doctor.
Just be alert to that if you plan to retire to TN.
Don
The reason you are declined is because they can charge non-medicare patients more. It's all about the money. They don't care about us. They really don't care.
I just moved to TN and I am having problems finding a doctor. I have Medicare and BCBS and I am still being declined by doctors who will not provide a reason. The only reason I can see is Medicare as I am a senior with normal senior problems. I pay my medical bills as I receive them. I have lived in DE, PA, NC, and SC also and never had a problem getting a doctor.
Just be alert to that if you plan to retire to TN.
Don
Where are you in Tennessee? I'm in Knoxville and have Medicare and a Medicare Advantage program and have no trouble at all finding doctors that take it.
If you're in East Tennessee, Baptist has a whole network of Senior Medical Centers (now adult medical centers) that take Medicare and most Advantage plans.
Blue Cross of Tennessee has a list of providers on their website: BCBST - Medicare Products
You may need to get a primary care doctor to refer you to a specialist, if that's what you're trying to see.
If you're in East Tennessee, I'd highly recommend switching to Windsor Medicare Advantage program. I've been very happy with them. Low cost and excellent doctors. Plan is headquartered here in Tennessee. Windsor Extra > Member
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she's now living on her yacht in Monte Carlo spending my retirement
she loves to 'Double Down', 
(and CBS Money 
Hope these folks sleep well at night. I had some elderly co-workers who were so distressed over losing their wealth, they got sick and died within 6 months of the great "Compaq" bail-out. Just a precursor of the 'subprime' event to come. Seems we (USA, via slime-bag lenders) really stuck it to some conservative foreign investors (such as pension funds and relief agencies...). I wouldn't expect their funds (what's left of them) to be invested back on this side of the pond for a few generations.
