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Retirement goes on hold

phathead69

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I hate that but while it dont help, your not alone.
I will be first in line to say things needed to change in regards to insurance and cost towards people with health issues that was beyond their control, genetics,accidents etc. and costs gouging by the insurace/health care. Also changes where needed in regards to lower paying jobs with sketchy coverage or no coverage.
Fast forward to Obama care and my self insured employer raises their premiums for some reason, don't make sense other than price gouging. Had a plan between wife IRA and pension, my 401K and company retirement we would quit the full time rat race around 55 or so and work part time, paying for reasonable cost health insurance, bills, and little bit spending money. We were on track until they implemented the "Hussain Obama screw over the responsible people with a goal they worked toward" and at 51 my wife and I see no real chance of that. looks like work till death and the the gov takes what's left.
Rant mostly over!!!!
 

phathead69

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Rant questions?
Al mentioned it and no qualms with him but why would his X procedure be discounted without health insurance and insured person cost more for same procedure? in my previoud post I mentioned my employer is self insured with no exposure to the public sector but Obama care caused significant primimium increases. How does that work?
 

sandyut

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IMO - for the provider they would rather get paid something rather than nothing. the insurance business is funny...its like the $100 band aid. they initially charge a seemingly HUGE amount, but the ins. companies are given huge discounts. No person or ins company pays "retail" for healthcare. I am in the healthcare world and have been my entire career. pretty sure this is the process. an example; check out an EOB. there is usually a discounted amount or agreed charge amount that is well below the "list price". its like that.
 

Bearcarver

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As for what they charge, compared to what they accept, We told them we wanted a complete itemized list of my Charges for what I mentioned above (post #12).
Of the charges adding to about $680,000, the Hospital accepted about $200,000, if I remember correctly. I know one thing that sticks in my mind was among all my meds was a single Aspirin each day for 28 days, at a charge of over $33 per Aspirin. (over $900)

Bear
 

phathead69

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As for what they charge, compared to what they accept, We told them we wanted a complete itemized list of my Charges for what I mentioned above (post #12).
Of the charges adding to about $680,000, the Hospital accepted about $200,000, if I remember correctly. I know one thing that sticks in my mind was among all my meds was a single Aspirin each day for 28 days, at a charge of over $33 per Aspirin. (over $900)

Bear
dang thems some good aspirin.
 

MJB05615

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For that much per Aspirin, I'm surprised they didn't call them "hits" lol. Wow that's the problem. The ridiculous overcharging. Been going on as long as I can remember, not just recently.
 

sandyut

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All charges are inflated so they can be discounted. its a totally hosed system, but that's how its set up. I am sure there is big business in negotiating the discounts to try to maximize profit on both sides.
 

Brian Trommater

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After a completely sleepless night I going to try to take retirement. Been trying to get hold of doctor to confirm he takes insurance and new patients. Work has mandatory overtime Sat and Sun then Sun next week. I not going in. They can kiss my butt. Will have to wait until first part of Feb to make sure get my 401K match.
 

sandyut

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Brian, I totally get it. I am on the final countdown. right before I gave notice I didnt sleep at all. jsut restless mind demons. But now, i am ready for what ever happens so long as work is not part of it :)

you got this man!
 

Brian Trommater

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Brian, I totally get it. I am on the final countdown. right before I gave notice I didnt sleep at all. jsut restless mind demons. But now, i am ready for what ever happens so long as work is not part of it :)

you got this man!
The nurse of the doctor just sent me message. She the daughter of old friend that passed. He not excepting new patients but she going to talk to him. Must be a sign. I need get this done before open enrollment done next week.
 
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lemans

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I retired at 66 not because I wanted to but because of Covid . My job of 37 yrs disappeared.. being home with nothing to do sucks! Stay at work as long as you cam
 

Kai Yaker

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If you are worried about medical insurance you may want to wait until after the new administration takes over to see what they do. I retired with a set budget for medical insurance. When Obama Care came out my monthly medical insurance rose by $500 a month. I about had a heart attack. At the time I was paying about $850 a month. Went up to just under $1400. Really pissed me off when the commercials were on telling people about free health care. Its not free. Saps like me pay for them.

Okay, off the soap box...make sure you have a retirement plan for the first couple of years. I originally had a part time job that I did from home. Kind of kept me grounded. Now, I am just happy to do what ever I want, when I want, weather permitting.
 

thirdeye

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The nurse of the doctor just sent me message. She the daughter of old friend that passed. He not excepting new patients but she going to talk to him. Must be a sign. I need get this done before open enrollment done next week.
Open enrollment is for people that currently do not have insurance, whether employed or not. Persons that are currently employed and have insurance.... but either get laid off, or retire and loose their insurance can sign up for ACA anytime during the year. So for example, if you retire February 10th your current company insurance will cover you until February 28th. You would apply for ACA and give them the last date of company insurance, and they pick-up at midnight. Here is a potential trouble area.... let's say you retire in October. There is a chance that your year-to-date income will exceed the maximum allowable amount and you may not be eligible until the following year.
 

Brian Trommater

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Open enrollment is for people that currently do not have insurance,
Good info. I appreciate all your comments. I was just thinking that cheap plan might disappear after open. I hope everyone does not go through this stress when thinking of retire. Good luck to others thinking doing it. I have several old friends have not seen in a while. Looking forward to having the time!
 

thirdeye

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Good info. I appreciate all your comments. I was just thinking that cheap plan might disappear after open. I hope everyone does not go through this stress when thinking of retire. Good luck to others thinking doing it. I have several old friends have not seen in a while. Looking forward to having the time!
You can go to healthcare.gov and create an account now, you are not obligated to sign-up for coverage, the account allows access so you can shop and compare. There are a series of questions you click through and when you are finished you can cruise all of the plans and unless something has changed, you can save information on plans you are interested in, then print the details or compare online. There is also a physician section where you enter your various doctor's names (or any doctor's name in town) and it tells you if they accept ACA. Also, since you have an account you can call and speak to to a representative, which have always been overly helpful.
 

daspyknows

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Not sure if I am on a different planet but my Blue Cross ACA coverage is $350/month with reasonable out of pocket costs. I am 58 and basically retired due to Covid. Before the ACA as a self employed person I was pay $1,400/month for same coverage. Things had gotten worse over the last 4 years but when I was making 6 figures I was paying much more. I do owe a bunch from 2020 since my rate was based on the subsidy which I did not qualify for after cashing out of some real estate with a nearly 7 figure capital gain. Moving forward that will not be the case. Seems to be more state specific than Obamacare in general based on my experience and what I am reading.
 

thirdeye

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Not sure if I am on a different planet but my Blue Cross ACA coverage is $350/month with reasonable out of pocket costs. I am 58 and basically retired due to Covid. Before the ACA as a self employed person I was pay $1,400/month for same coverage. Things had gotten worse over the last 4 years but when I was making 6 figures I was paying much more. I do owe a bunch from 2020 since my rate was based on the subsidy which I did not qualify for after cashing out of some real estate with a nearly 7 figure capital gain. Moving forward that will not be the case. Seems to be more state specific than Obamacare in general based on my experience and what I am reading.
I'm with Blue Cross too, but the price varies state to state and I think has something to do with your age. As long as I don't top the maximum income this year.... my subsidy will have covered my full premium for the last 3 years. I'm on the Gold Classic plan, but have riders for vision and dental.
 

sandyut

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I've been a nurse for almost 30 yrs now. I am only mid 50's, but I am so ready to be able to retire.
Jim
Thats he ship I am on. but I gave three months notice to help with the transition and leave with a clear conscience.

We are quite confident we will have more than enough to do and not be bored at all.

I have never loved working. it was a means to an end. I gave it my all for long enough. Now it my time to do as I want not what eh corporation wants!
 

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