Home Forums Hunting & Shooting Hunter's Campfire Health Insurance

I plan on retiring this summer at 63. Because of this, I will not be able to collect Medicare. My wife does not work but is 66 so she can collect Medicare. If you have to purchase your own health insurance what do you do for coverage? Who do you use? I did a bit of checking and health insurance costs are through the roof. $1,500 a month or more.

If you’re strong and healthy, do without it for a couple of years.

How is your health?

Whatever you do, DON'T DO THIS.

One bad stint in the hospital and you could be sucked dry, financially. Don't gamble your life savings on a few years of good health at your age. Chit, my 25 year old son has health insurance.

Did you do ANY financial planning? Yes, health insurance is costly, especially when paying out of pocket with no employer plan pitching in. You should have had that in the big plan all along.

I'd hire some help and go over options.

With all due respect, that you are retiring and are only now considering healthcare and asking those questions HERE, means you really need some help.

Good luck in retirement!

Perfect from my last examination. Great sugar, BP, Pulse levels, weight and shape but still do not want to take a chance as you never know.

Just get a part time job behind a gun counter somewhere {Or something else you'll enjoy} to help pay for insurance till medicare kicks in.

63 1/2 you can get Cobra for 18 months to take you thru to medicare, otherwise policy with high deductible will save money and protect against any big bills.

Change your name to Jose Sanchez-Dominguez and go to the ER for all medical needs

Do not go without insurance. I pay for mine and it's about $800 per month. Don't need a low deductible so I can get a better rate. Shop around or better yet get an insurance guy to help you with the ins and outs of insurance. I have one and he's worth his weight in gold.

Great info. Thanks guys.

I believe your employer has to let you pay to stay in their group insurance program for up to 18 months. They are allowed to add 10% to the cost of coverage. Look up info on cobra.

Get to Mexico and cross back over the border illegally.

Your monthly COBRA premiums will equal the total cost of the premium under your former employer-sponsored health insurance, plus up to a 2% administration charge. If you’ve had insurance through your employer, the price to continue that coverage on your own is gonna sting. COBRA requires you to pay 100% of the health insurance costs plus up to a 2% adminstrative fee. With COBRA insurance, you’re on the hook for the whole thing (you gotta pay what you used to pay when you were employed with them plus what your employer used to pay when you were employed with them.

https://www.insurance.com/health-in...s/what-you-need-to-know-about-cobra.html

My wife and I pay $2852.00 a month. This is just plain crazy, this way, other people only pay $1.00 to $100.00 or so. We were good until BHO became President. At that time we were paying around $700.00 a month.
We will be 65 next year...

You might consider one of those health-sharing plans such as Liberty:

Liberty HealthShare

Anyone with experience with a Health-share company?

Lots of church friends use a share plan. I wanted to try one, but my wife wanted to keep it as it was. We both are turning 65 next year. Then it will change. Then I'll need to get a Plan A and B ?? For extra coverage..

Thanks for the help.

A great thread.

I’m not 65 yet but I’m hoping to work well past that age.

If I’m able to do that, do I keep my present employer-contributed insurance or save money by getting on Medicare?

You need to run some quick numbers, check the out of pocket costs for general medical care and a hospital surgery stay. My father -in-law had several heart events, my father a hip replacement, prostatectomy, and a heart event........ The out-of-pocket or patient responsibility would have completely, and then some, out done whatever savings might have been by going cheap on Med Ins.

90% of ALL your medical costs will likely be made in the last 10% of your life...............

Get on Medicare. Get A,B,D, and G. Go through a certified medicare advisor. They charge nothing, help you find the cheapest rates. Mine is 300.00 a month, only 150.00 a year out of pocket. I went through United Medicare Advisors. Call them, they will explain it all to you.

The only bad thing for me is the Medicare penalty I have to pay cause Wifey and I make too much. It’s 300.00 a month. It should go away when I retire, certainly will when We both do.