# Health insurance in retirement



## Bentley (Jul 10, 2008)

Is the availability or cost of health ins keeping you from retirement? I retired a couple of years ago (after 32 years) with employer subsidized Health ins. I pay 50% of the premium cost at just under $800 each month. $1600 a month for HI.....who wudda thought?

I have taken a part time job JUST to pay the premium. 

How have you handled this huge cost? If you are not yet retired, how WILL you handle it?

Had I not paid off my home, there is no way I could afford to retire.

B

Every day is a bonus.


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## where I want to (Oct 28, 2008)

I have the premiums deducted from my pension check. And never ever think about it. I just cope with the remainder as my spendable income.
I agree that the key for those of us non-wealthy types is to go into retirement debt free. If the house wasn't paid off, I couldn't have retired period.
I do use my extra "retirement" time to grow a lot of my own food. That helps. But in truth, I simply don't spend any money that I can avoid.


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## SageLady (Jun 10, 2008)

Our health care premiums are deducted from DH's pension check as well. We don't have alot to live on after that is taken out, but we went into retirement debt free, mortgage paid off, and that is the only way we could have done it.... We do live on a very tight budget these days, but it is so worth it! Retirement is the good life in my opinion.


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## HermitJohn (May 10, 2002)

Dang if I am going to be some perpetual indentured servant to doctors, hospitals, and insurance companies. If they cant price to realistic market conditions, then I will maybe die a bit sooner without them, but they are going to have to live without my buisiness. Too bad, too sad, but way things are.


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## MoonRiver (Sep 2, 2007)

I have a high deductible that costs me about $600/month. My doctor bills, prescriptions, labs probably run about $2400/year so my total cost works out to about $800/month. I have a little over 2 years before I am eligible for Medicare.


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## Nevada (Sep 9, 2004)

Bentley said:


> Health insurance in retirement


Health insurance "IN" retirement is not normally a problem. Most will have Medicare when they reach 65 and that will take care of it. I fully intend to join a Medicare Advantage HMO, so even supplementary insurance won't be necessary.

Before 65 depends on your situation. If you have no assets besides a house and car to protect then it doesn't really matter if you have medical insurance. If homestead protection in your state doesn't cover your home adequately then I suggest you move to a state where it does. Otherwise you will have to depend on bankruptcy to protect your home.

If you have assets beyond your home and car then you need health care insurance. That would be things like stock, investment & vacation homes, and any other assets that a debt collector might want to attach. If you need to protect those assets but can't afford medical insurance, then I suggest that you can't afford to retire yet.


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## whiterock (Mar 26, 2003)

My ins is deducted from my monthly pay. I couldn't pay for my meds for the cost of the insurance. One of my meds runs $5000 a month over the counter private pay.


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## Nevada (Sep 9, 2004)

whiterock said:


> My ins is deducted from my monthly pay. I couldn't pay for my meds for the cost of the insurance. One of my meds runs $5000 a month over the counter private pay.


If you don't mind me asking, what do you take? (PM if you prefer)


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## whiterock (Mar 26, 2003)

It is called Gleevec, it works against the chronic lekumeia that was diagnosed in April. There are 5 other prescription meds i take daily as well. I couldn't have meds without the insurance, or i would have to pick and choose which ones i would take today or this week or......

Also, I broke both legs in April, without ins I would have been in a world of hurt. Two surgeries, a month in hospital and rehab, HUGE bills.


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## Nevada (Sep 9, 2004)

whiterock said:


> It is called Gleevec, it works against the chronic lekumeia that was diagnosed in April. There are 5 other prescription meds i take daily as well. I couldn't have meds without the insurance, or i would have to pick and choose which ones i would take today or this week or......
> 
> Also, I broke both legs in April, without ins I would have been in a world of hurt. Two surgeries, a month in hospital and rehab, HUGE bills.


Yes, I'm familiar with Gleevec. I looked it up for someone before. It's available overseas but still about $1200/month for the 400 mg. You'll either need insurance or be able to qualify for a public program to afford Gleevec.

As I said though, the huge bills from your fractures are a moot point if you have no assets.


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## Nevada (Sep 9, 2004)

whiterock said:


> It is called Gleevec


Taking a second look at Gleevec, the Medicare Advantage we have here in Las Vegas puts it as a Tier 5 drug. Tier 5 is a straight 33% copay on that plan. Thirty of the 400 mg pills (typically a 1 month supply) are about $5700 without insurance (CVS & Wallgreens price in Dallas). That means that the copay would be on the order of $1,900/month. If you're paying anywhere near that amount you need to look overseas.

I was also mistaken about the price. Cipla now makes a generic for Gleevec, which is available for $264 for thirty 400 mg pills.

https://www.alldaychemist.com/615__Imatinib

Depending on the particulars of your health insurance policy, you might be A LOT better off getting it from overseas than using insurance.


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## whiterock (Mar 26, 2003)

Thanks, Nevada, I can't beat the deal I have now.
Ed


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## Nevada (Sep 9, 2004)

whiterock said:


> Thanks, Nevada, I can't beat the deal I have now.
> Ed


What kind of a deal does your insurance company give you?


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## whiterock (Mar 26, 2003)

sent a pm, already said more that i prefer to on forum.
Ed


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## jwal10 (Jun 5, 2010)

I am only 55 so insurance is/was a concern for sure. Sweetie can't get any at any price, Fibromyalgia. I have a paid up $2,000 deductable catastophic health insurance that only pays for Dr, hospital and urgent care from illness or surgery. Sweetie and I have a paid up cancer policy (her Dad died from brain cancer) We paid into for 25 years. I take no meds and Sweetie's are over the counter pain meds, a prescription for restless leg syndrome, 1 for high blood pressure and an inexpensive med for depression (for fibromyalgia). less than $100/month. We have kept our teeth and eye care up with the former employers health insurance. So....we will see while waiting for SS and Medicare to kick in....James


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## Ramblin Wreck (Jun 10, 2005)

I was able to keep insurance where I worked and pay what an active employee pays. I'm not sure if that program will last forever, but then again, what does? It was either work until you die or take a chance that promised benefits would continue. So far, they have continued.


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## Nevada (Sep 9, 2004)

Ramblin Wreck said:


> I was able to keep insurance where I worked and pay what an active employee pays.


I've tried to take advantage of COBRA a few times but it was always cost-prohibitive. Of course, I could keep my same insurance policy but without the employer contribution it was not affordable. You are very fortunate that your former employer continues the same contribution. That's not required under COBRA.


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## Ramblin Wreck (Jun 10, 2005)

Nevada said:


> You are very fortunate that your former employer continues the same contribution.


It is a blessing and an even bigger blessing that the only time I tend to use it is for an annual physical.


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## Jokarva (Jan 17, 2010)

Retiree ins is a benefit of DH's job, about $800 per month for the two of us. Comes out of DH's retirement check before it's deposited - less painful than writing out that big check each month.


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## Helena (May 10, 2002)

Anyone using the AARP insurance supplement ?? Currently husband works 2 days a weeks..receives his union pension and SS and I also receive SS. He pays $84.00 a week for BC/BS coverage for me through his union since he is now considered part time. His insurance is paid totally by union. As was ours for a family for many years through the union. Never paid a premium as a family for many years. But..husband wants to totally retire in the next year so.. need to begin looking into another supplemental for us. I will not be able to get medicare for another 2 years but he is now. So, after being totally spoiled all these years with our insurance of dental, prescription plan, eye glasses and health care...I hope to get this at a reasonable price. So what is good and bad about AARP and anyone here in PA use the Gessinger plan through Gessinger Hospital as a supplement..hear this is reasonable also. ???


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## danielsumner (Jul 18, 2009)

Will be retiring next March at 56 years old. We will keep my employer coverage. The cost is $850 a month. I will receive a $150 a month from my pension coverage to offset cost. Total cost is only about $125 a month more than I pay now.

Daniel


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## Bentley (Jul 10, 2008)

Daniel, be sure and budget for premium increases each year of 8 to 10%. Even though inflation is about 3%, medical inflation runs much higher. 

So, a premium of $800 in 2011 will be well over $1100 a month in 5 years.

Take care.

B


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