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Feb 12th, 2024
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 Health insurance retiring at 63?
#9011062
02/25/24 05:31 PM
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Joined: Apr 2005
Posts: 19,825
TurkeyHunter
OP
THF Celebrity
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OP
THF Celebrity
Joined: Apr 2005
Posts: 19,825 |
Wonder what to budget for 2 people 2 years until Medicare at 65? Where are people getting health insurance these days not working? Obamacare marketplace?
To be determined
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Re: Health insurance retiring at 63?
[Re: TurkeyHunter]
#9011079
02/25/24 06:26 PM
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Joined: Sep 2004
Posts: 12,426
RedRanger
THF Celebrity
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THF Celebrity
Joined: Sep 2004
Posts: 12,426 |
Affordable Care Act is great, It all HMO but they only offer HMO. I would stick with like a Blue Cross and Blue Shield Policy, it seems like most doctors take that. https://www.healthcare.gov/
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Re: Health insurance retiring at 63?
[Re: TurkeyHunter]
#9011098
02/25/24 07:07 PM
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Joined: Jun 2015
Posts: 18,771
Roll-Tide
THF Celebrity
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THF Celebrity
Joined: Jun 2015
Posts: 18,771 |
I think Obamacare would be a good starting point. Especially if you could defer some income for a year.
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Re: Health insurance retiring at 63?
[Re: TurkeyHunter]
#9011132
02/25/24 08:33 PM
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Joined: Jan 2012
Posts: 29,167
TXHOGSLAYER
THF Celebrity
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THF Celebrity
Joined: Jan 2012
Posts: 29,167 |
Wonder what to budget for 2 people 2 years until Medicare at 65? Where are people getting health insurance these days not working? Obamacare marketplace? You could always keep your current plan under COBRA couldn’t you?
LETS GO BRANDON
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Re: Health insurance retiring at 63?
[Re: TXHOGSLAYER]
#9011198
02/25/24 10:38 PM
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Joined: Jul 2013
Posts: 6,057
tlk
THF Trophy Hunter
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THF Trophy Hunter
Joined: Jul 2013
Posts: 6,057 |
Wonder what to budget for 2 people 2 years until Medicare at 65? Where are people getting health insurance these days not working? Obamacare marketplace? You could always keep your current plan under COBRA couldn’t you? Cobra only applies if your employer has 20 or more employees. If it is available I would compare the Cobra plan to the marketplace plans. No matter where you get it the premiums will be significant. Once age 65 Medicare and a supplement are golden. I sold health insurance for over 40 years - I am not retired but PM me if I can help
You can't fix stupid
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Re: Health insurance retiring at 63?
[Re: TurkeyHunter]
#9011201
02/25/24 10:44 PM
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Joined: Jan 2013
Posts: 19,657
Pitchfork Predator
THF Celebrity
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THF Celebrity
Joined: Jan 2013
Posts: 19,657 |
Wonder what to budget for 2 people 2 years until Medicare at 65? Where are people getting health insurance these days not working? Obamacare marketplace? We have been very pleased with Medishare. We are both 63 and pay 1376.00 a month. 1500 deductible.
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Re: Health insurance retiring at 63?
[Re: TXHOGSLAYER]
#9011202
02/25/24 10:47 PM
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Joined: Apr 2005
Posts: 19,825
TurkeyHunter
OP
THF Celebrity
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OP
THF Celebrity
Joined: Apr 2005
Posts: 19,825 |
Wonder what to budget for 2 people 2 years until Medicare at 65? Where are people getting health insurance these days not working? Obamacare marketplace? You could always keep your current plan under COBRA couldn’t you? COBRA is generally good for only 18 months right?
To be determined
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Re: Health insurance retiring at 63?
[Re: TurkeyHunter]
#9011204
02/25/24 10:52 PM
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Joined: Jan 2014
Posts: 12,768
Paluxy
THF Celebrity
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THF Celebrity
Joined: Jan 2014
Posts: 12,768 |
As far as individual plans go check this out. https://tfbhp.com/
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Re: Health insurance retiring at 63?
[Re: TurkeyHunter]
#9011206
02/25/24 10:52 PM
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Joined: Mar 2010
Posts: 12,280
ntxtrapper
THF Celebrity
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THF Celebrity
Joined: Mar 2010
Posts: 12,280 |
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Re: Health insurance retiring at 63?
[Re: TurkeyHunter]
#9011207
02/25/24 10:57 PM
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Joined: Nov 2008
Posts: 8,375
LoneStarSon
THF Trophy Hunter
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THF Trophy Hunter
Joined: Nov 2008
Posts: 8,375 |
Obamacare has its place. You can get PPO and EPO on there, but they are expensive. I helped my best friend set his up and I think it's around $450/mo for him at 32 years old and living in Tarrant County. His job gives him $300/mo to help offset the cost since they don't have their own plan.
Texas Farm Bureau is another good option.
But I'd figure no less than $600/mo per person unless your income is less than the max on Obamacare. You can get some premium help if you make less than their income levels (I don't remember them, but I think it's right at $60,000 for a single person). Since you travel a lot, it's probably going to have to be a BCBS plan to get any type of coverage if you are out of network. I did have to get that for my best friend since he travels a lot for work and the other companies didn't have anything close to feasible for him. You definitely need to read the fine print on those plans as they are not accepted by all providers and even that varies per plan.
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Re: Health insurance retiring at 63?
[Re: TurkeyHunter]
#9011218
02/25/24 11:36 PM
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Joined: Aug 2005
Posts: 20,955
Sniper John
gumshoe
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gumshoe
Joined: Aug 2005
Posts: 20,955 |
If you don't qualify for obamacare subsidies but your yearly income is close enough to it and you still have some earned income from part time or a small business, you may be able to reduce your taxable income to reduce your MAGA score enough to qualify by contributing pretax dollars to things like Traditional IRAs, Solo 401K, HSAs. Many people who fall into that window of income do it and are able to get healthcare almost for free, but it can be a dangerous game in that any windfall of income during the year can cause one to have to pay back the subsidies.
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Re: Health insurance retiring at 63?
[Re: TurkeyHunter]
#9011219
02/25/24 11:36 PM
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Joined: Jul 2013
Posts: 6,057
tlk
THF Trophy Hunter
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THF Trophy Hunter
Joined: Jul 2013
Posts: 6,057 |
Wonder what to budget for 2 people 2 years until Medicare at 65? Where are people getting health insurance these days not working? Obamacare marketplace? You could always keep your current plan under COBRA couldn’t you? COBRA is generally good for only 18 months right? yes good for 18 months -
You can't fix stupid
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Re: Health insurance retiring at 63?
[Re: Pitchfork Predator]
#9011223
02/25/24 11:42 PM
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Joined: Jul 2013
Posts: 6,057
tlk
THF Trophy Hunter
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THF Trophy Hunter
Joined: Jul 2013
Posts: 6,057 |
Wonder what to budget for 2 people 2 years until Medicare at 65? Where are people getting health insurance these days not working? Obamacare marketplace? We have been very pleased with Medishare. We are both 63 and pay 1376.00 a month. 1500 deductible. Medishare is poplular because it is cheaper than insurance companies. My only advice is to make sure you read the fine print and know what the maximums are - I have seen claims into the millions . If you have a cancer, heart, etc. issue that goes on for years what is the lifetime maximum Medishare will pay???
You can't fix stupid
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Re: Health insurance retiring at 63?
[Re: TurkeyHunter]
#9011380
02/26/24 11:04 AM
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Joined: Oct 2017
Posts: 5,969
angus1956
THF Trophy Hunter
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THF Trophy Hunter
Joined: Oct 2017
Posts: 5,969 |
If your healthy and not taking a lot of medication get a catastrophic policy where your responsible for the first $10-15k if you had an accident or something major.
We did this for my wife till she turned 65. Prices are around $200.00 per month. Reach out to pokerj on here he helped us.
Good luck,
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Re: Health insurance retiring at 63?
[Re: TurkeyHunter]
#9011447
02/26/24 01:52 PM
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Joined: Nov 2004
Posts: 11,423
Choctaw
THF Celebrity
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THF Celebrity
Joined: Nov 2004
Posts: 11,423 |
Okay, just so I'm clear on this. You can retire before the age of 65, but you will not be eligible for Medicare until 65, correct?
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Re: Health insurance retiring at 63?
[Re: Choctaw]
#9011448
02/26/24 01:54 PM
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Joined: Oct 2008
Posts: 16,824
68rustbucket
THF Celebrity
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THF Celebrity
Joined: Oct 2008
Posts: 16,824 |
Okay, just so I'm clear on this. You can retire before the age of 65, but you will not be eligible for Medicare until 65, correct? Correct
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Re: Health insurance retiring at 63?
[Re: 68rustbucket]
#9011457
02/26/24 02:07 PM
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Joined: Nov 2004
Posts: 11,423
Choctaw
THF Celebrity
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THF Celebrity
Joined: Nov 2004
Posts: 11,423 |
Okay, just so I'm clear on this. You can retire before the age of 65, but you will not be eligible for Medicare until 65, correct? Correct Thank you, sir.
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Re: Health insurance retiring at 63?
[Re: 68rustbucket]
#9011462
02/26/24 02:16 PM
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Joined: Oct 2010
Posts: 2,892
topwater13
Veteran Tracker
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Veteran Tracker
Joined: Oct 2010
Posts: 2,892 |
Okay, just so I'm clear on this. You can retire before the age of 65, but you will not be eligible for Medicare until 65, correct? Correct You can retire anytime you want. Next question; to all the "affordable" care act proponents......does anyone remember what health insurance was like BEFORE that load of excrement? I always get a kick out of the left's play on words. Affordable to them must mean low premiums and outrageous deductibles. The low income earners may be able to afford $50 a month, but would have to declare bankruptcy to get their $8k deductible off the books. If you can't afford the deductible then chances are it isn't affordable.
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Re: Health insurance retiring at 63?
[Re: LoneStarSon]
#9011486
02/26/24 02:44 PM
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Joined: Sep 2004
Posts: 12,426
RedRanger
THF Celebrity
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THF Celebrity
Joined: Sep 2004
Posts: 12,426 |
Obamacare has its place. You can get PPO and EPO on there, but they are expensive. I helped my best friend set his up and I think it's around $450/mo for him at 32 years old and living in Tarrant County. His job gives him $300/mo to help offset the cost since they don't have their own plan.
Texas Farm Bureau is another good option.
But I'd figure no less than $600/mo per person unless your income is less than the max on Obamacare. You can get some premium help if you make less than their income levels (I don't remember them, but I think it's right at $60,000 for a single person). Since you travel a lot, it's probably going to have to be a BCBS plan to get any type of coverage if you are out of network. I did have to get that for my best friend since he travels a lot for work and the other companies didn't have anything close to feasible for him. You definitely need to read the fine print on those plans as they are not accepted by all providers and even that varies per plan. I was told by health insurance broker you can only get HMO in Texas, and when I sign up I have never seen a PPO option
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Re: Health insurance retiring at 63?
[Re: topwater13]
#9011488
02/26/24 02:47 PM
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Joined: Sep 2004
Posts: 12,426
RedRanger
THF Celebrity
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THF Celebrity
Joined: Sep 2004
Posts: 12,426 |
Okay, just so I'm clear on this. You can retire before the age of 65, but you will not be eligible for Medicare until 65, correct? Correct You can retire anytime you want. Next question; to all the "affordable" care act proponents......does anyone remember what health insurance was like BEFORE that load of excrement? I always get a kick out of the left's play on words. Affordable to them must mean low premiums and outrageous deductibles. The low income earners may be able to afford $50 a month, but would have to declare bankruptcy to get their $8k deductible off the books. If you can't afford the deductible then chances are it isn't affordable. The best thing about the Affordable Care Act is they can't deny you for pre existing conditions. I have been with ACA for a while now, it's has been great for me.
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Re: Health insurance retiring at 63?
[Re: TurkeyHunter]
#9011502
02/26/24 03:03 PM
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Joined: Apr 2007
Posts: 60,531
BOBO the Clown
kind of a big deal
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kind of a big deal
Joined: Apr 2007
Posts: 60,531 |
Wonder what to budget for 2 people 2 years until Medicare at 65? Where are people getting health insurance these days not working? Obamacare marketplace? just remember Obamacare is income based. It may behove you to lover your income history before signing up
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Re: Health insurance retiring at 63?
[Re: TurkeyHunter]
#9011511
02/26/24 03:24 PM
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Joined: Jun 2007
Posts: 1,886
blanked
Pro Tracker
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Pro Tracker
Joined: Jun 2007
Posts: 1,886 |
Every business owner i know said obama care is a disaster compared to there old policies
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Re: Health insurance retiring at 63?
[Re: BOBO the Clown]
#9011518
02/26/24 03:34 PM
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Joined: Sep 2004
Posts: 12,426
RedRanger
THF Celebrity
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THF Celebrity
Joined: Sep 2004
Posts: 12,426 |
Wonder what to budget for 2 people 2 years until Medicare at 65? Where are people getting health insurance these days not working? Obamacare marketplace? just remember Obamacare is income based. It may behove you to lover your income history before signing up It wil be based upon your current year projected income.
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Re: Health insurance retiring at 63?
[Re: blanked]
#9011521
02/26/24 03:40 PM
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Joined: Oct 2010
Posts: 2,892
topwater13
Veteran Tracker
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Veteran Tracker
Joined: Oct 2010
Posts: 2,892 |
Every business owner i know said obama care is a disaster compared to there old policies X1000000 Forced us to join a third party HR company to be able to afford to cover our employees with something that was worth more than the plastic insurance card.
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Re: Health insurance retiring at 63?
[Re: TurkeyHunter]
#9011543
02/26/24 04:15 PM
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Joined: Jun 2015
Posts: 18,771
Roll-Tide
THF Celebrity
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THF Celebrity
Joined: Jun 2015
Posts: 18,771 |
Im no health care expert.
But Obamacare prices are pretty similar to what I have seen in the market. It all pretty much sucks, there is nothing good. Cobra is for 18 months and it’s usually expensive too. Everyone should be prepared and have at least 5k available for a deductible.
I priced it for me, wife and 2 kids (18-20). It was cheaper that way than a buddy who just covers himself.
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