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It's Official: I'm Retiring!

Sugarcubesea

TUG Review Crew
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So based on this, ACA is very expensive until 65: $15 - 20k / per person compared to the approx $6,500 / year we are paying per person with an employer plan. Once my DH hits 65 and is eligible for Medicare, and our kids age out of coverage at 26 then perhaps this could be considered to cover the gap to 65 but still very expensive!

We have friends who are already retired in their 50s, but they have retiree medical from their Fortune 500 company, or are government employee retirees and their kids are out of college and they are covered by an employer plan.

This is one of the many reasons I want to stay at the Japanese Automotive company I work for till age 65. I pay only $65 a month to insure myself and my family. We have 3 different insurance plans to pick from and the HSA High Deductible has worked out well for us. Plus each year my company puts $2,500 into our HSA account and I contribute the rest of the money allowed each year up to the max of $8,100 ($7,100 + $1,000 Catch up) I now have about $12K in that account and will use those funds for retirement.

Once my kids are off my plan, I will save about $20 a month in what I'm currently paying in insurance
 

WinniWoman

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This is one of the many reasons I want to stay at the Japanese Automotive company I work for till age 65. I pay only $65 a month to insure myself and my family. We have 3 different insurance plans to pick from and the HSA High Deductible has worked out well for us. Plus each year my company puts $2,500 into our HSA account and I contribute the rest of the money allowed each year up to the max of $8,100 ($7,100 + $1,000 Catch up) I now have about $12K in that account and will use those funds for retirement.

Once my kids are off my plan, I will save about $20 a month in what I'm currently paying in insurance

That is great! A rare find in employers today.

FYI- I am using our HSA money for my healthcare premiums ($545 per month) and my husbands’ Part D premium, which is only $14 per month. That, and any out of pocket medical expenses we have, will deplete it at some point in the next year or two, but that’s what we saved it for I guess.

Of course, if the ACA route works out for me, that will help to keep the funds in the HSA for other medical bills.

Hubby has an HRA now also with an employer contribution of $60 per month- just started. Hey- better than nothing. I will have the same with his employer when I go on Medicare.
 

Sugarcubesea

TUG Review Crew
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That is great! A rare find in employers today.

FYI- I am using our HSA money for my healthcare premiums ($545 per month) and my husbands’ Part D premium, which is only $14 per month. That, and any out of pocket medical expenses we have, will deplete it at some point in the next year or two, but that’s what we saved it for I guess.

Of course, if the ACA route works out for me, that will help to keep the funds in the HSA for other medical bills.

Hubby has an HRA now also with an employer contribution of $60 per month- just started. Hey- better than nothing. I will have the same with his employer when I go on Medicare.
Maryanne, your right my goal is to deplete my HSA fund first in retirement as those funds are to be used in retirement
 
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