# Retirement Healthcare savings



## Piney Woods (Jul 5, 2006)

Please tell me this is ridiculously untrue for most people - 

"According to Fidelity Investments, a couple, both age 65 and retiring last year, could expect to spend $245,000 on healthcare over the course of their retirement. That&#8217;s up from $220,000 in 2014 and doesn&#8217;t take into account the cost of nursing or long-term care..."

http://www.msn.com/en-us/money/reti...er-you-retire/ar-BBqRGMy?li=BBnbfcL&ocid=iehp

Even as a solo person - that's $123,000. Assuming (generously) that I have 20 years to go, that's $6,000 a year. Breaking it down like that doesn't sound AS bad, but still... That's almost half of my projected income from Social Security.

I hope to retire next year btw. I may end up living in my van down by the river but that's why I bought it big.

TnAndy - I had some lab work done a couple of weeks ago and received my EOB - explanation of benefits. The total billed was over $1,500. Total paid by insurance was $120. My share might be $17. I'm holding my breath, hoping I don't get billed for the difference.


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## Jokarva (Jan 17, 2010)

My 45 year old sister in law has a $1400 per month copay for her MS medications, there are cancer drugs that are $45,000 and up per dose, so it's certainly possible. Or you could live all your life never needing any expensive healthcare. Just depends on how well you take care of yourself, and if you're lucky or not.


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## TnAndy (Sep 15, 2005)

Figures in health care are widely subject to variables.

For example, my open heart surgery a few years ago was $138,000. WITH insurance, I paid a few thousand of it out of pocket....and insurance negotiated the rest down to about 40k.

So, would the Fidelity figure be what the billed cost was (138k), what the insurance paid (40k), what I paid (2k), or what the total the medical folks actually got (42k) ?

As we've grown older, and use more medical care, I've been amazed at how hard it is to get pricing on almost anything medical related. 

You go to buy virtually anything else...be it an actual item, or a contract for services.... and you get the price up front, allowing somewhat informed decision on the purchase. 

But in the medical field, you only get to find out what the cost was AFTER you get the service. They keep you completely in the dark until it's time to pay.

Another thing....outrageous billing. Example above....hospital/doctors billed $138k for my heart episode.....but apparently were quite willing to settle for 30 cents on the dollar billed. That begs the question: WHO pays retail ?

I mean, if I didn't have insurance, would they have done it at all ? Or if they did do it and tried to get 138k out of me, and I simply did what most folks with huge medical debt do....bankrupt out of it.....they would have gotten little or nothing....

So why the huge billing, knowing full well they will take 30% as actual payment ? Whats the point ?


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## mnn2501 (Apr 2, 2008)

Were it not for the high cost of health care, I could retire at 60 (in a few months) however health ins for dw and myself would be around $2K a month, $24K a year


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