How to figure out health care expenses in retirement?

[b2bailey]

I would never go with Kaiser. My daughter was with them at one point through the company she was working for and couldn't wait to get off them.

I am probably turned off as a friend of mine had a horrible experience with them when treating her scoliosis and she ended up worse than before.

Both of those experiences were in the San Francisco Bay Area where the Healthcare is very good.

Luanne, I'm with you. I had a bad experience with Kaiser in NORCAL as well.

 

[b2bailey]

We stayed with the Denver Fire health plan and have Medicare. We were told by our good friend who was a Denver cop that we are overpaying for our plan because we are tied to the fire department's plan, and we could save a few hundred $$$ a month, if we go with Kaiser on our own. He did it, and he is much happier.

I am sort of stuck with this idea that things will change (for us), if we go that route, and so I am not really sure if this is a good idea or not. Next month we will meet with a Kaiser rep and ask that question.

Cindy, your mention of Kaiser makes me wonder if you had any difficulty receiving /paying when you injured your foot -- on Maui?

 

[heathpack]

Thinking back, I don't know anyone who wishes they would have worked longer. (Well, one comes to mind -- but she has no resources other than social security.

If I stay 10 years (ie until I am 68), I get a ridiculously good pension. I will probably try to see if I could go to some very minimal job that is still full time (a 9 month faculty appointment is still full time, and then for my specific job if I am not on hospital duty, I can be anywhere), and then maybe 2 more years of very part time work to make the pension. But the truth is they would have to really give me exactly what I wanted for me to consider it.

First, I don't really need the pension. I would be in IMRAA territory with just that and SS. (However my niece has a disabled child and it would be nice to throw money at them freely)

Second, I am just done with being an employee. My lifetime tolerance for dumb stuff has been completely exhausted. Every job has dumb stuff and I used to just see that something was dumb and maybe every now and then speak up about it. But now I just cannot tolerate it at all.

My cousin is a year ahead of me and also feels "done". So maybe its something about being 60ish. I've worked continuously since 16 yr of age. Maybe the "lifespan" of work is 40-45 years...

 

[b2bailey]

If I stay 10 years (ie until I am 68), I get a ridiculously good pension. I will probably try to see if I could go to some very minimal job that is still full time (a 9 month faculty appointment is still full time, and then for my specific job if I am not on hospital duty, I can be anywhere), and then maybe 2 more years of very part time work to make the pension. But the truth is they would have to really give me exactly what I wanted for me to consider it.

First, I don't really need the pension. I would be in IMRAA territory with just that and SS. (However my niece has a disabled child and it would be nice to throw money at them freely)

Second, I am just done with being an employee. My lifetime tolerance for dumb stuff has been completely exhausted. Every job has dumb stuff and I used to just see that something was dumb and maybe every now and then speak up about it. But now I just cannot tolerate it at all.

My cousin is a year ahead of me and also feels "done". So maybe its something about being 60ish. I've worked continuously since 16 yr of age. Maybe the "lifespan" of work is 40-45 years...

I think we all have experiences from our pasts that influence our decisions about the future. For me, it was a story about my husband's mother. (I never met her.) She had breast cancer 50 years ago -- when it was more of a death sentence than it is today. She went back to work as soon as she was able. Not sure of her motivation. She died 2 years later.

 

[Greg G]

I'm responding specifically to the part about healthcare costs during retirement, specifically after you are covered by Medicare. I've always carried a Supplement Plan, at a cost of less than $150 / month. I'm willing to pay that for 3 reasons:
1. If I'm traveling anywhere in US, I can walk into any Urgent Care or ER knowing I'll be covered.
2. At home I can see any doctor -- no need for referral to a Specialist.
3. After minimal Annual Deductible -- less than $300 -- everything else is covered.

One thing to note is that on item 2 you can see any doctor in the US (that accepts Medicare and for which Medicare covers your condition) without preauthorization and Medicare will pay for it, and your Medicare supplement will pay the remaining amount (depending on if it is a Plan G/F, and N if it is not an excess charge service, and if not then you will have more of a payment to meet a higher deductible with the other Medicare supplement plan types ). Thus you choose who is best for the medical condition you have, and not an insurance company. That is the key advantage of Medicare with a Supplement over a Medicare Advantage plan (I , as other posters, have already mentioned the pros and cons of these two insurance types)

 

[heathpack]

Congrats on living a frugal lifestyle!

I honestly don’t feel that frugal. We pretty much do what we want. We’re just lucky I guess that we don’t like too many expensive things. But also we live in the country. Other than Amazon Prime, I have to drive 30 min to spend money. So that helps.

We just had some good luck- cashed out of our California house before it got wrecked in an earthquake, bought a house for cash when we weren’t even trying to (we bought the house we liked best and it just so happened to be the cheapest one), Mom gave us her low mileage car when she couldn’t drive any longer, have a good financial planner, got lucky on the timing of my departure from previous job (there’s trouble in paradise), etc.

There are some frugal aspects to me I guess. I think spending tons of money on clothes is dumb, I want a good but non fancy car, I would never in a million years spend $50,000 on a Disney Cruise like I saw someone post on FB today, I think cooking at home is no biggie.

But I will spend crazy money on certain things. Like I special ordered this one specific grapefruit variety from a California grower last winter to the tune of $70 per 25 pound box. I think I actually ordered 4 total times in season. Yes I spent almost $300 to buy 100 pounds of grapefruit. But they are really good grapefruit. For my birthday I splurged and bought myself a $500 espresso machine. It was on sale! I’ll get the wine pairings from time to time. And so on.

So I’m not really that frugal but not really wasteful or habitually extravagant.

 

[rickandcindy23]

I would never go with Kaiser. My daughter was with them at one point through the company she was working for and couldn't wait to get off them.

I am probably turned off as a friend of mine had a horrible experience with them when treating her scoliosis and she ended up worse than before.

Both of those experiences were in the San Francisco Bay Area where the Healthcare is very good.

I have had Kaiser for 50 years. I absolutely love Kaiser.

If you don't like your doctor, you just request a new doctor. It's NOT Kaiser (the insurance company) that does the treating.

I was treated in So Cal for gallbladder issues. They were very good at the clinic by Newport Coast. They put me on an antibiotic via IV and I was able to go back to the parks the next day.

 

[Luanne]

I have had Kaiser for 50 years. I absolutely love Kaiser.

If you don't like your doctor, you just request a new doctor. It's NOT Kaiser (the insurance company) that does the treating.

I was treated in So Cal for gallbladder issues. They were very good at the clinic by Newport Coast. They put me on an antibiotic via IV and I was able to go back to the parks the next day.

I do know some people like them. I just don't choose to use them.

 

[rickandcindy23]

Cindy, your mention of Kaiser makes me wonder if you had any difficulty receiving /paying when you injured your foot -- on Maui?

None. I love my doctor, such a sympathetic man, and he is our age. I had no problems getting Kaiser to pay for my ER visit on Maui. We did pay $75 for a co-pay on the ambulance.

It was also my arm. I would break a foot and an arm to make it extra difficult to get around.

Most people in Denver rave about Kaiser, but there are always people who have terrible experiences with any doctor.

All three kids are Kaiser babies. Their pediatrician was amazing. He looked like Christopher Reeve. I was annoyed when he asked the kids what they had for breakfast. Every time they said cereal, I got a lecture and a list of better breakfast options with directions on how to scramble eggs to make whole wheat breakfast sandwiches with cheese that apparently the doctor thought was a much better choice. They didn't agree. I tried it, and it was a fail.

 

[Luanne]

None. I love my doctor, such a sympathetic man, and he is our age. I had no problems getting Kaiser to pay for my ER visit on Maui. We did pay $75 for a co-pay on the ambulance.

It was also my arm. I would break a foot and an arm to make it extra difficult to get around.

Most people in Denver rave about Kaiser, but there are always people who have terrible experiences with any doctor.

All three kids are Kaiser babies. Their pediatrician was amazing. He looked like Christopher Reeve. I was annoyed when he asked the kids what they had for breakfast. Every time they said cereal, I got a lecture and a list of better breakfast options with directions on how to scramble eggs to make whole wheat breakfast sandwiches with cheese that apparently the doctor thought was a much better choice. They didn't agree. I tried it, and it was a fail.

Cindy, have you ever traveled anywhere that didn't have a Kaiser facility?

With Medicare and a Medicare supplement I really like the ability to choose my doctors from any that take Medicare. I can also go into any Urgent Care facility (we use one on Maui) and have everything covered.

 

[FunnyFarm]

One thing to note is that on item 2 you can see any doctor in the US (that accepts Medicare and for which Medicare covers your condition) without preauthorization and Medicare will pay for it, and your Medicare supplement will pay the remaining amount (depending on if it is a Plan G/F, and N if it is not an excess charge service, and if not then you will have more of a payment to meet a higher deductible with the other Medicare supplement plan types ). Thus you choose who is best for the medical condition you have, and not an insurance company. That is the key advantage of Medicare with a Supplement over a Medicare Advantage plan (I , as other posters, have already mentioned the pros and cons of these two insurance types)

I didn't look back too carefully at this long thread so this is probably covered already but here I go.

Supplements do a very good job of covering the 20% co-insurance, deductables etc and limit the out of pocket risk so it gives a predictble expense for medical.
However they cost a fair bit more than a Med Adv/Part C.
They also don't cover drugs which is mandatory (additional expense $100/mo) or lifetime penaties apply.
Supplements also do not cover dental, vision or hearing meaning an additional policy.

I have chosen a Med Adv plan with 0 premium.
Had all six major joints replaced, glasses every 2 years, hearing aids every 2 years, almost no drug costs.
Never have I come close to the out of pocket maximum. Add to that a couple of ER visits with minimal cost.
I do however conform to their network of providers (out of state urgent or ER is covered) but that is a very wide set if you use the 2 largest insurers (UHC & Humana).
I also do not need specialist referrals.
Sometimes there is a preauthorization but it is quick and I have never been turned down.
Plus out of network can be covered but at an increased co-pay/co-insuranse.

Each person has to look at whats best for them.