55, "early" retirement, and health insurance

[SHRED]

I wonder how many others are in my shoes.

I am 49, married, kids grown, and have a little nest egg in my home's equity built up plus retirement accounts.
I have 16 years in where I work and at 20 years of service and 55 years old is when the CalPers retirement agreement really starts getting beneficial.

So me and my wife are looking at living frugally, traveling, and wanting to enjoy a "job free" retirement.
We have worked hard, invested, and would love to enjoy the last years of our lives BUT NO!!
The cost of health insurance is prohibitive. We cannot afford to lose everything by risking going without until Medicare.

How many more are like us?
I have talked with others who give me a blank stare back or say, "Go get a little part-time job"...WTF? Like that will cover health insurance. Besides...WE DON"T WANT TO WORK ANYMORE!

We are so frustrated with our governments lack of health payment protection for our citizens.
A trillion dollars for war and our own citizens get the shaft.

Grrrr...


:mad:

Sidenote:
I'd gladly move aside, at my job, so others could have a chance to "move up the chain".
Multiply this by thousands and there would benefits for a lot of people I believe.

I'd gladly pay a reasonable fee but insurance premiums, at 55 and up, are outrageous.

[lostnfound]

1. I totally agree. And care providers are another group in the same boat.

I know a disabled veteran who could go to a nursing home at government expense for like $5000 per month. But after 2 weeks there, his family saw how the nursing home was going to kill him quickly through neglect and incompetence. The family decided to keep him at home and his daughter quit her job to take care of both her dad and her child. Now this seems to me to be a pretty useful and noble enterprise. But is there anyway for her to get healthcare in that situation? No. Healthcare is the one deciding factor for many, many people who choose between work and family priorities -- staying home with young children, for example. You can scrimp for a while on expenses, move in with the relatives who need care, but what do you do when you or your kid gets sick?

The only family situation that allows for reasonable healthcare options is the married couple where one works and one stays home.

It's especially bad when you consider how many are cases where the family member being cared for is very sick or dying, and his or her loved ones have no choice but to keep working only because of the insurmountable costs of health care.

[SEEME2]

18. HEALTHCARE

I agree...the next best thing when the health care is to expensive is health care discounts. A lot of people don't know about the discounts instead of paying full prices for doctors, dentist etc.


http://deliveringonthepromise.com/jfinn

[acmejack]

2. I was there, but

At your age I had a major illness and poof lost it all, home, land all gone, cashed in retirement, everything, finally got out from under medical bills. INsurance does not cover a lot of things that 10% they won't cover, or the 5%, or even the co pays, the things they want to fight about, the the things you end up having to go to court over (disability insurance-time consuming, draining. You're sick!), costs so much.

But I will never get hired again, the insurance company gleefully provides negative information to anyone who runs a background on me. I get a letter anytime I apply somewhere from them telling me they are sharing certain information. Corporations just hate being fucked with.

Anyway, do it, work to live, man. See you in Austin!

[goclark]

3. I agree and GW's Medicare Plan is not helping

anyone that I know of ~

According to him it is WONDERFUL!

I just can't believe anything that comes out of his mouth.

My mom's plan, she has Blue Cross and Medicare. said if she went with George's Plan she would not have their benefits from Blue Cross.

It is so confusing -- but she stuck with the Medicare/Blue Cross that she has now.

It is so hard for Seniors, or anybody ,to figure this stuff out.

[Nimrod2005]

4. I am with you, I am a little younger than you are, but I can retire

If it weren't for healthcare costs...Frankly, I don't even know what to do, for the 3 of us, decent policy is $1000.00 per month!

I always say if we lived in a country where Universal Healthcare is provided to all, I would not work anymore. Therefore, I am pulling for Hillary!!!


Curious, what kind of prices are you finding out there?

[napi21]

5. My husband is in the same spot as you are!

He wanted to retire last year, at 62, but alas, monthly ins. costs are prohiitive!

I have one friend who retired at 62, and is depending on COBRA for the 18 months, which will them put her very close to eligibility for a plan the Company se retired from provides to retirees beginning a age 64 1/2.

I too have checked all the options I could find, but short of being extremely poor, or fairly wealthy, I sure haven't found any answers to the problem.

[adriennui]

6. same situation

....house equity, 401Ks, etc. my husband has a pre-existing condition so there's no chance of getting health insurance much less affordable. COBRA tides you over for 18 months but what happens after that? an illness or operation can easily bankrupt any middle class family (and we're probably upper). i'm not crying, we're very secure and i'm very thankful but something is wrong with a society that places the health of its citizens as a low priority.

[acmejack]

7. After cobra, it is tough.

I was lucky, I had the VA with a service connected so I could go there. Since i was destitute I met their criteria for all the other stuff & I applied for SSD and finally got it. Until they eliminate it when they get rid of it, well, we'll cross that bridge...

It's funny, I used to plan for my future. I used to believe in America, too.

[adriennui]

15. you are entitled

you aren't "lucky". anything less would be criminal after your service to this country. we owe this to you!

[China_cat]

8. I know what you mean

My husband is 57. His health insurance THROUGH HIS WORK is costing about $400/mo. (I can't get coverage because of my health) It covers nothing that you'd ever really need it for but if you can't say you have insurance, doctors here don't even want to see you.

[Divernan]

9. You can't count on SSecurity or Medicare for 10 yrs. from now either.

Just as the SS retirement age for full benefits has been extended into what? the early 70's now instead of 65, the eligibility age for Medicare could also be extended. I didn't want to work as long as I did either, but kept at it until the health insurance benefits kicked in (at age 62) along with my pension. And I was very fortunate to have that option - most people don't. As one of my adult children commented to me, for people of her generation, the US is like a third world country where people work until they die. She doesn't expect to ever be able to fully retire.

[FloridaPat]

10. I've been without health ins for 4 years now. Out of work too much.

I was paying $800 a month for a single person. The scary things is the article about how Middle Age Americans are much sicker than British middle aged people. We have been had by our own gov't. My opinion is our health is bad because our food is crap. Big Business in the food and health industries get to make fortunes at our expense. Think about it - no sick people would really mess up the incomes of the health industries. I wonder what a gov't "for the people" would be like.


Middle-Aged Americans Sicker Than British
By CARLA K. JOHNSON and MIKE STOBBE, Associated Press Writers
12 minutes ago

CHICAGO - Middle-aged, white Americans are much sicker than their counterparts in England, startling new research shows, despite U.S. health care spending per person that is more than double what Britain spends.

A higher rate of Americans tested positive for diabetes and heart disease than the British. Americans also self-reported more diabetes, heart attacks, strokes, lung disease and cancer.

The gap between countries holds true for educated and uneducated, rich and poor.

"At every point in the social hierarchy there is more illness in the United States than in England and the differences are really dramatic," said study co-author Dr. Michael Marmot, an epidemiologist at University College London in England.

http://news.yahoo.com/s/ap/20060502/ap_on_he_me/sick_america

[Dr.Phool]

11. In the last 2 weeks

I've gotten totally fucked.

I'll be 54 next week. I've been on disability for 5 years. My company was run into the ground by it's executives. Last week I got a letter from the PBGC that my pension was being cut in half, from $1100 to $500. Saturday, I got a letter saying the trust fund that was covering our health insurance was broke, and coverage is terminated June 30th.

I'm going over to the VA tomorrow to see if I can get a health card. I doubt that I'll get it. I applied 5 years ago, and never heard another word.

[pnwmom]

22. I am so sorry, Dr. Phool. How can they treat retirees like that?

I know it happens, though, and it just makes me sick.

[MercutioATC]

12. There are other countries with great (and inexpensive) medical care...

Retire and move...that's what I'm doing in 10 years.

[SHRED]

13. some suggestions?

[MercutioATC]

16. Look into Costa Rica.

First-rate medical and dental care (very inexpensive), lower overall cost of living, great climate, stable democracy, higher literacy rate than the U.S. and the friendliest people I've ever met.

[BrklynLiberal]

14. I can empathize.

I am 61, out of work, with no health insurance.
Lived on what I had in my 401K for the last 5 years that I have been unemployed. That is gone now. I have to consider Medicaid and food stamps at this point. :(

See if you can get any help at the Frugal and Energy Efficient Living Group
http://www.democraticunderground.com/discuss/duboard.php?az=show_topics&forum=353

Career Help and Advice Group might also have someone who can help.
http://www.democraticunderground.com/discuss/duboard.php?az=show_topics&forum=362

[Warpy]

17. welcome to the club

but if you want to travel, have you considered 10 years in Central America? The insurance industry isn't any kinder there, but at least their health care is still affordable.

The US system combines the utmost in cost, inefficiency, and cruelty. It has to change, but don't look to the Feds to do it.

[kineneb]

19. we so understand

Hubby is on dialysis; but before that, he was ill for some time. To get health care for him, we spent down all of our cash assets, including my small life insurance policy. Then we were able to get assistance from CA's rural medical program (CMSP). Now we live on his SSDI, and he has Medicare. If I work and earn more than $238/mo., he would loose Medi-Cal(Medicaid) coverage for his medicines. I am 47 and he is 59. Mom pays for my minimal private insurance, and I have to rely on CMSP for the rest.

There will be no "retirement" for us- this is it. He is tied to a machine three days per week so travel is now out. I know we could arrange to have dialysis elsewhere, but we have no extra money.

I have no idea what I will do when he dies. All I will have is his SS, if that is still around. At least we own the house here.

[sarcasmo]

20. My wife will be retired at 55. We are both worried about this as well.

Will we have to work until Medicare kicks in? Six years will come quick and it would be nice to find out some info.

[tanyev]

21. Would you consider a little part-time job at Starbucks?

They allow even part-time employees to sign up for health insurance. Don't know what kind of premiums you would have to pay, though.