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Old 08-23-2016, 04:07 PM   #21
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I am 68 and my wifr is almost 65 and I have been planning on waiting until 70 to max out my SS for the extra 32% benefits.
As I get closer and tireder of putting up with disrespectful youngsters I am not so sure.
The wait until the wife is 65 takes care of the Medicare and waiting til 70 would go a ways towards the medical costs.
We have bought a smaller house in North Florida near (but not too near) the kids and grand kids.
We have sold the bigger house we have been in for a while and until I finally retire we are full timing in a nice Travel Supreme 5th wheel. The Scamp is ready to travel and just needs the outside sanded, smoothed and painted.
After working for so long I worry about retirement, but I am getting readier all the time.
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Old 08-24-2016, 06:44 AM   #22
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I suggested you contact the Escapee insurance providers because beyond brokering Obamacare and private policies, they are familiar with policies that are multi-state in nature, Escapees rarely stay in one state.

Our first 18 months we did get Cobra, at the time it was good coverage for the cost.

Lastly under Medicare part A and part B we have never had to pay a deductible for anything except prescriptions which is usually $10 or less.

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Old 08-24-2016, 06:58 PM   #23
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Thank you everyone for your thoughts and experiences! You have opened my eyes to a few possibilities, confirmed some of my fears, and given some very sage advice.
I met with our financial planner today and found that God willing and the creek don't rise I am financially good to retire at 60, even better at 62. Now more than ever is the time for careful planning and realistic expectations.
See you on the road soon!
Thanks again
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Old 08-24-2016, 07:45 PM   #24
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When I retired at 62, the company for whom I worked paid my insurance premium until I became Medicare eligible. It was indeed a nice perk, and a great early retirement incentive.
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Old 08-24-2016, 08:27 PM   #25
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About working past retirement age, etc.

My DH, whose family owned auto dealerships (and who did sportscar racing in his spare time), looked for a *retirement* gig after the family sold the business. As a result, he discovered that driving a log truck, was a hellofalotta fun. So much fun that he did so until he was 79 years old (last December).

So, for him, Medicare was secondary, but dear Wifey had medical coverage that would otherwise have cost us a fortune. During this time he was diagnosed with lymphoma (stage 4, into bone marrow due to faulty diagnosis), but CONTINUED to drive through chemotherapy.

He's now in remission and let his company, Sierra Pacific Industries, know that he was not planning to return.

Being a *family* kind of company, and with its own group plan, SPI has generously kept him on their employee roster. They placed him on Family Medical Leave, and then just recently placed him on COBRA *with premium reduction*, so he continues with their plan primary, AS DO I.

They can only do this for another nine months, but I consider this an incredible blessing. When we speak to their benefits department about any issues, it's like speaking to dear friends. In another nine months I'll be 64, so very close to Medicare.

When his previous employer sold the company and the drivers were all *let go,* I had just been downsized from my 11 year community college teaching gig. Ironically, my 20 y/o son, working at Best Buy, was the only one in the house still employed!

Ron considered calling SPI, but heard they were laying drivers off.

I was stunned, then, to hear this fellow on the phone, looking for *veteran* drivers. It seems they had too many applicants who could not pass a drug test, and too many who could not safely drive on mountain roads. Ron was 73 at the time, and they wanted him, and we needed them. They have taken wonderful care of us, and I appreciate them deeply.

Just a little bit of sharing about working past retirement age, and the shocking generosity of a capitalist corporation.
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Old 08-24-2016, 09:22 PM   #26
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Might as well hold off making any decisions now; in four years the health-insurance landscape could look completely different. Republicans generally want to repeal Obamacare and institute free-market reforms, HSAs, etc., that should materially rationalize and reduce the cost of health insurance. The Democrats are looking at the (predictable) disintegration of the insurance industry under Obamacare, and hoping to move to 'Medicare for all', i.e. socialized medicine, paid out of taxes, which many think was the intention all along.

Might as well just invest as wisely as you can (get good advice) and see what the situation is four years from now. The more you have socked away, the better off you'll be.

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Old 08-24-2016, 10:28 PM   #27
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Watched Michael Moore's latest documentary last night, "Who do we invade next". Part of it addressed medical care and taxes in countries other than the US. Apparently 59 per cent of US taxes go to military.
I doubt anything will change no matter who you elect.
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Old 08-24-2016, 11:08 PM   #28
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Originally Posted by Dennis mn View Post
When I retired at 62, the company for whom I worked paid my insurance premium until I became Medicare eligible. It was indeed a nice perk, and a great early retirement incentive.
Same here. An excellent perk that I am so glad that I have. In my case, it is the municipality where I worked.

Not only do they pay the premium, but when they decided to change the plan to one that had a larger deductible, they opened a health savings account for each employee and they deposit the deductible amount each year into the account. I now have close to $8000 in my account. They claim it is still cheaper for them than the old, low deductible policies were.
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Old 08-24-2016, 11:26 PM   #29
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If you are in relatively good health ask your accountant about the benefits of an HSA (Health Savings Account) Insurance Plan. Advantages: The premiums are about 1/2 of normal Medical insurance. You get a deduction for your contributions up to around $3300 to your savings account. You can use the savings account for medical, dental and vision expenses. If you don't spend the money in your savings account you can withdraw it without penalty at age 65 and use it for whatever you want. Disadvantage: High deductible, I think around $6500, but then everything is 100% covered. The savings on insurance and tax advantages can outweigh the high deductible in many cases. We are happy with ours (well, as happy as you can be with insurance I suppose : ). Note: the above is to the best of my recollection. Consult a tax professional. We have ours through Blue Cross (Anthem) in California. I retired at 62 and I am anxiously the warm embrace of Medicare next year!

https://en.wikipedia.org/wiki/Health_savings_account

And yes, as someone mentioned above, I also think Health Insurance will be unrecognizable four years from now from what we know it as today, for better or worse, so planning that far out is difficult.

.
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Old 08-25-2016, 12:50 PM   #30
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There have been many proposals to raise the age for Medicare eligibility to 67 or 68 or 70. Trying to plan for retirement when the rules keep changing may become a more daunting task.
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Old 08-25-2016, 01:07 PM   #31
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There have been many proposals to raise the age for Medicare eligibility to 67 or 68 or 70. Trying to plan for retirement when the rules keep changing may become a more daunting task.
Hi: steve dunham... Sure makes it hard to play the game when the rules keep changing.
I lost all my benefits when I left the Co. @ 65. Now I have to pay for my own if I want more than the basic "Goober mint" ones. I didn't take the dental as it cost $1500/ yr. I did keep the extra medical as I was "Grandfathered" in... no questions asked. I have enough pre existing conditions to kill a horse. $258. per/month, with 30 days/ per trip, out of country coverage. If I want long stay ie: 60-90 days out... boy do I pay EXTRA per month. Seems the Ins. Co's. are liability Co's. that don't want to take any "Liability"!!!
There's still people that think Health Care in Canada is "Free".
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Old 08-25-2016, 01:25 PM   #32
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William McGuire , past CEO of Health Partner , a not for profit health care provider last reported salary was $124,000,000 per anum or $58,000 per hour . It's not hard to see why health care is so expensive in the USA
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Old 08-25-2016, 03:58 PM   #33
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Originally Posted by steve dunham View Post
William McGuire , past CEO of Health Partner , a not for profit health care provider last reported salary was $124,000,000 per anum or $58,000 per hour . It's not hard to see why health care is so expensive in the USA
Hi: steve dunham... Study's have shown the most expensive style of Health Services provided are Emergency room visits. The least costly are Preventative Medicine!!! Eat right, Drink light, and Exercise tight!!! Now where did I last see my runners?
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Old 08-25-2016, 04:11 PM   #34
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With the whole epi pen thing going on right now one has to wonder, what do they cost in Canada? Is the company losing money on drugs sold in Canada because I seem to recall them being a whole lot cheaper than here in the states.

Insurance is required by law to charge enough to remain profitable and able to honor commitments. Hospitals charge prices based on the their "big book" but no one can demonstrate a rational reason for product or service prices in those books. The individual hospitals just make a price up, it is how you end up with $20 aspirin plus a $30 nursing fee to give them to you. Or $3000 bills that hospital will accept $250 as payment in full from insurance company.

There are even services that will go over detailed itemized bill from hospital and routinely save patients 10% or more. Common example, being billed for nursing services as a daily part of room rate plus getting billed for actual services performed by that same nurse. Double billing for the same nurse, insurance company doesn't care, they just raise the rates but if you get stuck paying your own hospital bill look into those bill audit services.

I have a couple more years and then I will have my company insurance provided when I retire. Been here long enough that I'm grandfathered in for that benefit. Stopped offering it a couple years after I started.
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Old 08-25-2016, 04:25 PM   #35
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With the whole epi pen thing going on right now one has to wonder, what do they cost in Canada?
$100 each. If that's CDN, that would be $78 US.
How EpiPen's maker raised prices, and hackles, so much in U.S. - Health - CBC News
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Old 08-25-2016, 06:03 PM   #36
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Watched Michael Moore's latest documentary last night, "Who do we invade next". Part of it addressed medical care and taxes in countries other than the US. Apparently 59 per cent of US taxes go to military.
I doubt anything will change no matter who you elect.
Not exactly. Military spending comes a ways down on the list -- welfare, Social Security, and other entitlements come first. You can read details here: Where your tax dollars go, including how much your personal debt is increased each year by government over-spending.
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Old 08-25-2016, 07:54 PM   #37
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Early retirement and medical insurance

Military spending is 57% but that does not include veterans benefits. Social security/Medicare should not be considered as part of the budget since they are funded and run separately . They are more of a mandated savings deals. (yes it is still taxes, but ask the military how much benefit is in your account).
I have a chart somewhere. Food stamps and other social safety net programs altogether under %2
So when someone tells you they are going to balance the budget by cutting them question their math

Even if you don't like Michael Moore, that movie was an eye opener


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Old 08-26-2016, 05:19 PM   #38
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Remembering Mark Twain and statistics

Well there are statistics, and there are statistics. Remember what Mark Twain had to say about them. You can look at discretionary spending, you can look at mandated spending, or you can look at What We Spend.

Our total budget looks more like this:
Attached Thumbnails
government spending.jpg  
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Old 08-26-2016, 05:48 PM   #39
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Not sure, but I think when they widened some highways in the US so missiles could be transported, that came under military budget.
Over to you.
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Old 08-26-2016, 11:32 PM   #40
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Not sure, but I think when they widened some highways in the US so missiles could be transported, that came under military budget.
Over to you.
Oh, you have me there. No doubt that accounts for the 57%. (Explaining why Michael Moore makes sense... over to you!)
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