When do you plan to retire and first trip

[maddog497]

Being Canadian, I have a hard time getting my head around the health care numbers, wow, just wow.

We retire in 2023, my wife 1 month before me. I could retire 1 year sooner but will not. I will be 60 and my wife 55.

We both will have good pensions, and feel very fortunate for that. I was the spender and she was the saver before marriage. She won the battle and I am so thankful for that now.

We plan on a 10-12 week trip the first winter retired. Starting down the east coast of the USA, then a month in Mexico, then a month around the Sedona area and then back up the west coast to British Columbia and then home to Ontario.

I'm sure this could all change, but that's been the conversation so far.

We both have jobs we love and 20 years ago I couldn't imagine day dreaming about retirement but now I know the years/months/days to that day, lol.

Sent from my SM-G975W using Tapatalk

 

[turkel]

Honestly no matter what happens with healthcare in the US I don’t ever see the preexisting cause or coverage until 26 going away.

We are very fortunate to have health coverage until Medicare kicks in, my DH complains bitterly that they switched to Medicare half way through his career. I guess it’s all about expectations. He specifically chose his career looking for a pension and early retirement. He is a lucky man that he loves his job so much so that he will do an extra 3.5 years with no further retirement accumulation while paying in an extra 20k/yr towards his pension.

I would prefer he retire yesterday but I am starting to get excited about making plans for our future travels.

 

[PcflEZFlng]

I was told by my husband's employer that Cobra is for 18 months. How did you manage 3 years?

California provides an 18-month extension, called Cal-COBRA. Other states have extensions as well.

 

[turkel]

California provides an 18-month extension, called Cal-COBRA. Other states have extensions as well.

Good to know. I wonder how long California has had this law. I seem to remember my mom got an extended Cobra coverage when my dad passed away 19 years ago. How she got coverage after Cobra I don’t know since she had a stroke 9 months after my dad passed. Certainly a preexisting condition back then. I do remember she paid 1.1 k a month after cobra. So her insurance was expensive back then too!

On Medicare she pays $2.00 a month for Kaiser and it annoys her that they won’t take the full years payment as one. Her Kaiser coverage includes Dental too which is interesting since I believe most Medicare does not cover Dental.

 

[geekette]

I am generally an oddball, I'm used to it, but probably will freak some people out: I'm going uninsured. It is better for me to keep insurance dollars in my pocket and pay as I go and 600/mo isn't reasonable. I have a great set of doctors all based in a hospital system attached to a university. I get a cash discount for visits (less than "my part" after insurance!) and for major stuff, 0% payment plans. I still have money in HSAs and will part with it as I go.

I expect many to think that I'm enormously foolish, but what I'm doing is minding the pennies so the dollars stay with me until actually needed to pay for health care. I don't need health insurance, I need health care. Massive difference, and I'm cutting out the middleman. If something catastrophic occurs, I'll deal with it, probably from the 600/mo I'm not pre-paying. I will not allow fear of Something Happening to coerce me into further bolstering insurance co profits.

 

[rapmarks]

I am generally an oddball, I'm used to it, but probably will freak some people out: I'm going uninsured. It is better for me to keep insurance dollars in my pocket and pay as I go and 600/mo isn't reasonable. I have a great set of doctors all based in a hospital system attached to a university. I get a cash discount for visits (less than "my part" after insurance!) and for major stuff, 0% payment plans. I still have money in HSAs and will part with it as I go.

I expect many to think that I'm enormously foolish, but what I'm doing is minding the pennies so the dollars stay with me until actually needed to pay for health care. I don't need health insurance, I need health care. Massive difference, and I'm cutting out the middleman. If something catastrophic occurs, I'll deal with it, probably from the 600/mo I'm not pre-paying. I will not allow fear of Something Happening to coerce me into further bolstering insurance co profits.

I could have done that at your age. Not after 64. My insurance is around six hundred a month, but pays out well over ten thousand a year.

 

[Big Matt]

I'm 56 and own a business so I may never really retire (don't tell my wife). She's already retired from teaching at 54. We've got good healthcare through her school system. If I do retire, I'm going to take a 30 day adventure driving across country and back stopping along the way for a couple days at a time. My son is in Oakland, so that's a logical end point. I think I will do the northerly track on the way and hit places like Chicago, the Dakotas, and Seattle, down to Portland, and down the coast. Come back through Arizona, New Mexico, Texas, Louisiana, South Carolina, Asheville and back to the DC metro area. I've got 1.5 million Marriott points that need to get spent at some point.

 

[Passepartout]

I'm 56 and own a business so I may never really retire (don't tell my wife). She's already retired from teaching at 54. We've got good healthcare through her school system. If I do retire, I'm going to take a 30 day adventure driving across country and back stopping along the way for a couple days at a time. My son is in Oakland, so that's a logical end point. I think I will do the northerly track on the way and hit places like Chicago, the Dakotas, and Seattle, down to Portland, and down the coast. Come back through Arizona, New Mexico, Texas, Louisiana, South Carolina, Asheville and back to the DC metro area. I've got 1.5 million Marriott points that need to get spent at some point.

56 is pretty young, but road trips like you are envisioning are pretty stressful and tiring, and require some planning. Don't wait too long. My wife still maintains some office hours and we travel extensively, so being self-employed doesn't require you to be chained to a desk. You won't regret that you traveled when you were young enough to enjoy it.

Jim

 

[WinniWoman]

I am generally an oddball, I'm used to it, but probably will freak some people out: I'm going uninsured. It is better for me to keep insurance dollars in my pocket and pay as I go and 600/mo isn't reasonable. I have a great set of doctors all based in a hospital system attached to a university. I get a cash discount for visits (less than "my part" after insurance!) and for major stuff, 0% payment plans. I still have money in HSAs and will part with it as I go.

I expect many to think that I'm enormously foolish, but what I'm doing is minding the pennies so the dollars stay with me until actually needed to pay for health care. I don't need health insurance, I need health care. Massive difference, and I'm cutting out the middleman. If something catastrophic occurs, I'll deal with it, probably from the 600/mo I'm not pre-paying. I will not allow fear of Something Happening to coerce me into further bolstering insurance co profits.

I love this and I have said this for years. How about if NO ONE buys health insurance? We all keep our money? Invest it or put it in a savings account. (kind of like the HSA concept is for high deductible plans, except no rules or regulations for using your own money). That is a way to collapse the existing status quo and maybe some real positive change would happen! (of course, almost everyone would have to participate in the health insurance ban). One reason healthcare is so expensive is due to insurance! And to liability- attorneys and lawsuits. And government inefficiency. And high administrative costs. And the high cost of health care university education- due to government subsidies (Pell grants, etc.) resulting in high tuition. And.....well- you name it...

I wish I had the courage that you have! Kudos!

PS And considering what you went through health wise not too long ago- you really are brave! Joan of Arc!

 

[klpca]

Honestly no matter what happens with healthcare in the US I don’t ever see the preexisting cause or coverage until 26 going away.

They go away automatically if Obamacare goes away. There would have to be legislation to reinstate them, I believe.

 

[Big Matt]

Mary Ann, healthcare insurance is expensive for a number of reasons. 1) all of the medical R&D somehow needs to get paid for. That's why MRI machines are so expensive and why some drugs are $1000 per dose. 2) Hospitals charge a fortune and then break even (what?). 3) Insurance subsidizes those in poor health by those with good health. Same with Medicare/Medicaid. 4) Then there is my favorite......having people pay for things that they don't really need and charging them a fortune. Like when I HAD to get custom orthotics that cost $150.

If everything was a Chinese menu, people would go to doctors and hospitals a lot, lot less. Maybe people would try to be more healthy too if they new that they had to pay for everything out of pocket like it was 100 years ago.

 

[Big Matt]

I am generally an oddball, I'm used to it, but probably will freak some people out: I'm going uninsured. It is better for me to keep insurance dollars in my pocket and pay as I go and 600/mo isn't reasonable. I have a great set of doctors all based in a hospital system attached to a university. I get a cash discount for visits (less than "my part" after insurance!) and for major stuff, 0% payment plans. I still have money in HSAs and will part with it as I go.

I expect many to think that I'm enormously foolish, but what I'm doing is minding the pennies so the dollars stay with me until actually needed to pay for health care. I don't need health insurance, I need health care. Massive difference, and I'm cutting out the middleman. If something catastrophic occurs, I'll deal with it, probably from the 600/mo I'm not pre-paying. I will not allow fear of Something Happening to coerce me into further bolstering insurance co profits.

....And furthermore, if you have a catastrophic event, the hospital will work out a reasonable payment option or write most of it off. They really don't like it when patients declare bankruptcy and they get nothing.

 

[klpca]

I love this and I have said this for years. How about if NO ONE buys health insurance? We all keep our money? Invest it or put it in a savings account. (kind of like the HSA concept is for high deductible plans, except no rules or regulations for using your own money). That is a way to collapse the existing status quo and maybe some real positive change would happen! (of course, almost everyone would have to participate in the health insurance ban). One reason healthcare is so expensive is due to insurance! And to liability- attorneys and lawsuits. And government inefficiency. And high administrative costs. And the high cost of health care university education- due to government subsidies (Pell grants, etc.) resulting in high tuition. And.....well- you name it...

I wish I had the courage that you have! Kudos!

PS And considering what you went through health wise not too long ago- you really are brave! Joan of Arc!

I can't begin to imagine what out total cost has been for the past few years. Surgeries (2), eight weeks of radiation, an ambulance ride (that was something like $1k), an emergency stent placement. Numerous labs, numerous drug therapies. No matter how much money we had saved over the past 37 years of working, I think that it wouldn't have been enough. When you are only minimally accessing health care, the cost of the premiums seems high. When you need it, you are glad that you have it.

We have been paying $1k +/- for homeowners insurance for 32 years, just one small claim about 20 years ago. Same with our auto insurance. I am still happy to have it to protect our assets. I feel the same way about health insurance.

 

[klpca]

....And furthermore, if you have a catastrophic event, the hospital will work out a reasonable payment option or write most of it off. They really don't like it when patients declare bankruptcy and they get nothing.

Then those written off costs get spread out among those who are paying with health insurance. The expenses don't go poof. They have to be paid by someone.

 

[Big Matt]

Then those written off costs get spread out among those who are paying with health insurance. The expenses don't go poof. They have to be paid by someone.

Not true. I'm close friends with someone who runs two hospitals in a big hospital group. It happens all the time. Many of the expenses are "phantom". If the hospital isn't full, the marginal cost of the room is near nothing. Labor is cheap. It's the huge charges by the doctors, and use of medical equipment. How much does it cost to do an MRI. Not much. The equipment is expensive up front, but marginally cheap unless the hospital leases it.

 

[amycurl]

The number one reason why folks declare bankruptcy in this country is medical debt. And 100 years ago, a lot of people died because they couldn't afford to pay straight out of pocket (if they could even access care.)

 

[PcflEZFlng]

The obscenely high cost of medical procedures (and don't forget prescription drug costs!) seems to be unique to this country among the developed nations. There are specific reasons why our politicians aren't aggressively tackling this, and those reasons are uniformly green.

A book I read last year (Tailspin: The People and Forces Behind America's Fifty-Year Fall - and Those Fighting to Reverse It, by Steven Brill) gives a pretty credible explanation of the causes.

 

[clifffaith]

I agree with this plan. We spent 5 nights in Venice on SPG points (5th night free) and spent 80% of the time wandering around, eating and browsing the shops. I could have done another week of the same easily. Many people I talk to are aghast - "you can see the sites in 2 days easily!" I always say that is true but not relevant - if my goal was to compile a bunch of pictures of famous sites, I could do that online from my house and save the cost of travelling...

We discovered when we got a "we are enjoying Montreal" email from my cousin that, guess what, "we're here too!" They were on the last of three days when we met for a dinner cruise. We'd been there two days and they couldn't figure out how we were going to spend five more! Some how we managed to fill the time!

 

[klpca]

After the day I had at work today, retirement is looking better and better.

 

[Luanne]

After the day I had at work today, retirement is looking better and better.

After I retired I wondered why I hadn't done it years earlier.

 

[geekette]

The number one reason why folks declare bankruptcy in this country is medical debt. And 100 years ago, a lot of people died because they couldn't afford to pay straight out of pocket (if they could even access care.)

Medical debt itself is not the bankruptcy cause. It is trying everything to erase it that harms people. I might not have my radiation paid off for another 2 years, or, I could sell stock and settle it right now, but harm my future. I can co-exist with the payments for years better than I can co-exist with my sister if I sold my house to settle all costs I have and will incur.

I am fully willing to pay a fair price for care I need, I just might not always be able to pay the whole thing immediately. Finding a hospital system that cares about the people more than prompt in full payment has been beneficial to me in being able to continue treatment, and payments. My most important doctor writes all of my appointments off. there are no supplies used, and she is salary. No real cost to hospital, just not a profit. At some point after I have everything paid off, I know exactly where donation dollars are going: that hospital. Cutting me a break when I needed it is massive reason to return the favor later. Way better use of my funds than continuing insurance payments.

Not sure about 100 years ago, but certainly large quantities of women died needlessly since we were not economically necessary and not seen as physically different from men (where all the research was). We still lose far too many to childbirth.

Seems to me that if your town had a doctor, he might accept a chicken in payment. Insurance companies weren't in the health market so there was no middleman between person and doctor. Not sure that doctors were wealthy back then, they wanted to heal people and weren't under threat of lawsuit. Costs have piled in from areas not related to direct treatment of patients.

 

[geekette]

After the day I had at work today, retirement is looking better and better.

From the other side, it stresses me out to think about returning to my career, so I'm not doing it. Sending you sweet evening Peace.

 

[geekette]

They go away automatically if Obamacare goes away. There would have to be legislation to reinstate them, I believe.

I think you are correct, it's there now by law, not by generosity of insurers. However, public pressure could do it without legislation, and would be my plan if law reverses. We have a lot of insurance companies here with massive beautiful campuses. They would look great with sign carriers.

Lifetime caps need to stay out, too, as infants born sick were royally screwed forever after. There should never ever be a cap on getting the care a body needs. We are all a bag of pre-existing conditions on the basis of being Human. I would like the phrase "pre-existing condition" to disappear. It came in with insurers wanting to protect their dollars from people that might cause them to pay out and can go out with them, too.

 

[geekette]

Not true. I'm close friends with someone who runs two hospitals in a big hospital group. It happens all the time. Many of the expenses are "phantom". If the hospital isn't full, the marginal cost of the room is near nothing. Labor is cheap. It's the huge charges by the doctors, and use of medical equipment. How much does it cost to do an MRI. Not much. The equipment is expensive up front, but marginally cheap unless the hospital leases it.

Yes, this is my understanding, too. each hospital has a carefully guarded "Chargemaster" that dictates what is charged for each procedure. It will always be to the patient's benefit to shop around because an xray here doesn't cost the same as an xray there.

Just like a retail store, they charge what the market will bear. "Reasonable and customary" costs in your area dictate what insurance pays and it does not at all sync up with Chargemasters.

 

[Passepartout]

I've said it before and I'll say it again. The USA would be a far better place to live when universal health care becomes a right and is not treated as a privelege. And again- No nation that provides universal health care's people have EVER petitioned or voted to go back to 'fee for service'.

Just look at the number of TUGgers who have delayed retirement or travel so that they can afford to provide for their own- or a family's health care.

So see, it IS about timeshareing. (I DO know the rules)

Jim