Individual Healthcare Needed...

[S10xGN]

Hi All,

I plan to retire in Feb, 2011 and will be switched over to a different (retiree) plan. For the wife and I, my current plan is $144 bi-weekly ($3744 yr) and has no deductible, $15 copay, pays 100%, and an excellent drug plan. The "retiree" plan is $775 mo ($9300 yr), $800 deductible, pays 90%, drug plan is unknown but likely the same. I'm gonna be in a world of hurt paying out $11k a year with no paycheck coming in!

I've done some basic googling, but there are so many options my head is spinning! Has anyone bought healthcare policies for a decent price?

 

[Grumpy]

HC is goin threw the roof.. Can't help ya BUT will be watching this thread. :redface:

 

[rmar]

Before this deductible scares you off look into a plan like this.

2500 to 5000 deductible, it is a co pay $30-35 for visits, prescription card.ect..

It is 100% pay out. after deductible is met. But it is copay of almost everything.

If you have a major medical. your 80/20 or 90/10 is going to be more than 2500-5000 anyway. So it is actually a better plan and a lot cheaper.

As you can tell self employed.

 

[JOHNDEEREGN]

Before this deductible scares you off look into a plan like this.

2500 to 5000 deductible, it is a co pay $30-35 for visits, prescription card.ect..

It is 100% pay out. after deductible is met. But it is copay of almost everything.

If you have a major medical. your 80/20 or 90/10 is going to be more than 2500-5000 anyway. So it is actually a better plan and a lot cheaper.

As you can tell self employed.

Thats what we did too Ronnie, higher deductables but major coverage is good. Good Luck Russ!

 

[rmar]

Thats what we did too Ronnie, higher deductables but major coverage is good. Good Luck Russ!

And there is still a co-pay so it is not a lot out of pocket.

 

[GNBRETT]

signs of the times i guess. i take for granted i have heathcare for life. i feel 4 u guys. thats some steep chit there. no wonder why no one retires these days

 

[JOHNDEEREGN]

signs of the times i guess. i take for granted i have heathcare for life. i feel 4 u guys. thats some steep chit there. no wonder why no one retires these days

Your a lucky man, dont take it for granted :wink:

 

[aminga]

Russ,

How far are you from Medicare?

The biggest thing is get your Major medical covered. The doctor's visits are a minor concern.

 

[S10xGN]

So these plans are copay regardless of the deductible? I guess I'm confused, go figure! I was thinking that DR visits counted against the deductible... The wife goes almost monthly (diabetes) and has 7 scrips she'll take for life. All I take is an OTC vitamin/aspirin/glucosamine mix. She's 60 but I'm just a pup at 57 (don't tell her I said that). There's a one month stretch where she's 4 yrs older and I give her h#ll then! :biggrin:

 

[TurboTnZ06]

Find an insurance broker in your area. Each state is different. The broker is paid commission by the insurance companies, they don't charge you.

 

[Ms. FastNasty]

You might look into the Anthem BCBS Lumenos plan. I don't believe it's offered in every state, so check the website. It's an HSA plan design and pays 100% coverage for preventive care (unlimited). Medical care comes out of the HSA account first, and then it pulls from deductible, then coinsurance (usually 80/20). I believe you can add RX coverage to it, but am not 100% sure. AND, it's one of the cheapest plans they offer. Not sure on what the deductible amounts are. I have this policy through Anthem, and my deductible is $500...not sure if that is an employee only deductible amount, or if it's one offered at the individual level as well.
Good luck in the search.

 

[rmar]

So these plans are copay regardless of the deductible? I guess I'm confused, go figure! I was thinking that DR visits counted against the deductible... The wife goes almost monthly (diabetes) and has 7 scrips she'll take for life. All I take is an OTC vitamin/aspirin/glucosamine mix. She's 60 but I'm just a pup at 57 (don't tell her I said that). There's a one month stretch where she's 4 yrs older and I give her h#ll then! :biggrin:

Yep..........:biggrin:

And with the high deductible the rate is much better.

 

[ijames]

If the deductible is over $1200 you qualify to set up an HSA, health spending account. This is an account you put pretax money into that you can spend on health care, so you effectively get a discount of whatever your tax rate is. The amount you can put in each year is limited to about $3000 (it changes each year just like 401k and IRA contribution limits), and you don't have to spend it the year you put it in. It just stays there getting interest until you spend it, and the interest is also tax free. I shopped around when our company went to a big deductible plan a few years ago and most banks offer the accounts and pay 0.5-1% interest, usually if you keep a $1000 minimum balance. You can either get a VISA debit card or write checks. My contributions are automatically deducted from my paycheck so tax is never withheld. I can also add money myself and file a form when I do my taxes to deduct it from my gross income. Not sure how it would be done for a retiree but definitely look into it.

As for the doctor's office visit copay not counting towards the deductible, every company and plan has little differences like this and you just have to read all the fine print.

 

[novaderrik]

change your name to something that sounds somewhat foreign, pretend you don't know english, and go to the ER when you get sick.
you will get all the free healthcare you will ever need.

 

[GNBRETT]

change your name to something that sounds somewhat foreign, pretend you don't know english, and go to the ER when you get sick.
you will get all the free healthcare you will ever need.

lol...... aint that the truth

 

[deezdad]

signs of the times i guess. i take for granted i have heathcare for life. i feel 4 u guys. thats some steep chit there. no wonder why no one retires these days

Your guaranteed health care is dependent on there being enough working people's paychecks to rape and pilfer the money from to fund it. Public workes can't just whistle past the graveyard while everyone else takes the brunt, might work now but not forever.

 

[Turbo6inKY]

Health insurance is going to move back towards what it was in the 60s and 70s: high deductibles for major events, but it's out of your pocket until you hit the deductible (excepting preventative care that insurance has to cover at 100% by law).

Employer sponsored group plans are also going to go away. Employers are simply going to give you cash to use in the public exchanges.

So pay attention to this thread. Everybody is going to be making these same choices soon.

 

[TR Custom Parts]

My plan at work is now requiring us to participate in what they call "Living Well". Have to follow all their suggestions and take part in tests and stuff. If you fail to participate they hit you with an extra $60 a week towards your insurance.

 

[GNBRETT]

Your guaranteed health care is dependent on there being enough working people's paychecks to rape and pilfer the money from to fund it. Public workes can't just whistle past the graveyard while everyone else takes the brunt, might work now but not forever.

ummm wrong! what do u think everyone is gonna just stop working all of a sudden? some people just really have no earth clue what they are talkn about.....

 

[deezdad]

You can ummmmmmmm yourself till your dizzy, won't change the fact that when more people are in the cart than those pushing it, it stops moving. Hope it works out for you but this earthling has seen enough to know there are no guarantees.