Paying for health insurance

[Paul127]

Going Fulltime and paying for health insurance because of young age, who else pays for health insurance? We plan to domicile in FL. What are the providers being used?

[Skid_Row_Joe]

pawatt wrote:
Medicare is the best insurance we have ever had. We were paying $1650.00 a month before we were old enough to qualify.

Exactly. It costs you nothing, zero, zilch, nada while in the hospital. What costs in varying amounts are the costs when out of the hospital - depending on the coverage(s) you buy.

[Skid_Row_Joe]

ipeltier wrote:
As a Canadian, I am lucky to receive good medical care without any direct cost to my family. Yes, we pay higher taxes, but our nation's philosophy is that access to good education and health care should be a basic right for all citizens. The cost of your medical insurance premiums and deductibles astounds me. But unless the middleman of high profit insurance companies is eliminated, your system will not be fixed. Are you aware that the USA is the only western nation without universal health care coverage? Your "Medicare" for seniors is basically the system we have for all residents in Canada--with no deductibles. I know "socialism" is a nasty word in your country, but how is unbridled capitalism in the health care system serving the best interests of your citizens. We watch the ongoing debate on fixing Anerican health care in your political arena, with all the permutations, combinations, eliminations presented by all the special interest groups, but nothing ever gets fixed. Your citizens deserve better.

We have Medicaid for the aged without assets. Everyone in the United States receives free healthcare, provided they have no assets - regardless their age. No one goes without healthcare here. Contrary to your misled beliefs.

[2oldman]

vjstangelo wrote:
Go for it, don’t wait to full time until 65. You will not be able to get those 10 years back. I plan for on leaving my job at 56 while I still have my health and hit the road.

Good plan. Once you hit 65 the health problems start, and it just gets worse, depending on how you took care of yourself the last 40 years.

Unfortunately I think too many don't have sufficient money to retire at 55.

[wildtoad]

Like some here my premiums and deductibles for the past few years totaled in the mid $20k per year. Each of the last several years I have spent the full amount. They’re a little less now that the DW is on Medicare.The good news is a) I’m still here to write this, and b) I’ve saved a few coin on my taxes. The proposed tax plan if enacted as is eliminates the tax write off for medical expenses. So not only will those of us who don’t get a subsidy have to pay the full cost of insurance, we now will pay more in taxes. Yeah!

[FunnyCamper]

vjstangelo wrote:
Go for it, don’t wait to full time until 65. You will not be able to get those 10 years back. I plan for on leaving my job at 56 while I still have my health and hit the road.

The stress I am under at my current job will surely do me in if I keep at it till 65, and most others agree. So many in their 50’s say WTF and hit the road.

I like your thinking cause honestly we are hitting this right now in our time of life 🙂 Scary thing is those 10 yrs go so darn fast and find a darn way to make it work in your favor.

[vjstangelo]

Go for it, don’t wait to full time until 65. You will not be able to get those 10 years back. I plan for on leaving my job at 56 while I still have my health and hit the road.

The stress I am under at my current job will surely do me in if I keep at it till 65, and most others agree. So many in their 50’s say WTF and hit the road.

[2oldman]

ipeltier wrote:
As a Canadian, I am lucky to receive good medical care without any direct cost to my family. Yes, we pay higher taxes, but our nation's philosophy is that access to good education and health care should be a basic right for all citizens.

Our nation's philosophy is 'something for nothing.' And with these proposed tax cuts, it's ' let them eat cake.'

[time2roll]

Big Katuna wrote:
Single payer (think Medicare) can work as it mostly eliminates greedy costly insurance companies and it controls costs as now you have a large group that can dictate what the greedy medical industry will be paid.

And providers will line up like they do for Medicare.

The present system is broken.

My gripe is Medicare pays about 15 cents on the dollar for the rack rate billing.

Hospital stay $15,000
Medicare pays agreed rate of $1,800
Co-pay maybe $400

I have seen this frequently over several years taking care of DM.

The rest is overcharges getting written off. Who can afford the rack rate? Only an insurance company can because of negotiated prices. Individuals are doomed with this system.

Regulation is the answer IMO. ALL prices should be no more than 20 percent higher than lowest negotiated price such as Medicare agreed value.

Good luck to the OP with insurance. I will be out of the rat race before 65 and contemplating the same thing.

[FunnyCamper]

Western I get ya.
It is no smoking but if you do they charge ya like $80 more per month on your $450 total family cost...and alcohol is allowed in 'non abusive' form etc.
I am researching hard on it 🙂

I hear ya but sometimes faith comes into play and of course 'review after review' of what I might be walking into on this path LOL

From what I am seeing a community of like minded individuals who want to do for ourselves is something that is appealing to me and cost wise it is stellar and community wise it is gratifying.

but I hear ya tho--do your homework before diving in!

[westernrvparkow]

FunnyCamper wrote:
One thing I am researching right now is the Christian Healthcare ministries that are out there. They are approved as insurance and one incurs no penalty from the govt. Just kinda that radical change in how one pays for their bills and I just need more research etc but I see prems are way more affordable in this scenario. Another avenue to explore for us right now.

Be aware of the pitfalls. First, they require you to adhere to their self defined Christian Standards. I know one requirement is no tobacco or alcohol consumption. I don't know how they enforce such rules. But it sure would be a kick in the crotch if you had a serious, expensive condition and they decided not to cover you because they searched your Facebook page and found a photo of you at a backyard barbeque holding a Bud Light. They also have a somewhat nebulous requirement you always adhere to "Christian Values" Again, probably not an issue you if need broken arm set, but might be a big issue if you need a heart/lung transplant. If you were overweight, could they deny coverage because you obviously committed the sin of "Gluttony"? No one would ever buy a real insurance policy that had such fuzzy restrictions, just saying.
Oh, and if your income changes (and as a retired or self employed individual, you have many options to actually control the income value used to calculate eligibility for ACA subsidies) and you are eligible for those subsidies, you can only get them if you purchase your insurance through the ACA exchange for your state. The Christian Healthcare Ministries and similar programs are not eligible.
Finally, these plans are not vetted for financial strength, not backed by reinsurance from either the private sector or government entities. You are basically taking their word that they will pay. If they don't, you really don't have any recourse.
It will probably work out. But the exact reason we buy insurance is because things don't always work out as we plan. Something to keep in mind.

[Big_Katuna]

Well said. Pretty much sums it up. Our greedy politicians (who have golden single payer health care) have been bought off by big business.

[ipeltier]

As a Canadian, I am lucky to receive good medical care without any direct cost to my family. Yes, we pay higher taxes, but our nation's philosophy is that access to good education and health care should be a basic right for all citizens. The cost of your medical insurance premiums and deductibles astounds me. But unless the middleman of high profit insurance companies is eliminated, your system will not be fixed. Are you aware that the USA is the only western nation without universal health care coverage? Your "Medicare" for seniors is basically the system we have for all residents in Canada--with no deductibles. I know "socialism" is a nasty word in your country, but how is unbridled capitalism in the health care system serving the best interests of your citizens. We watch the ongoing debate on fixing Anerican health care in your political arena, with all the permutations, combinations, eliminations presented by all the special interest groups, but nothing ever gets fixed. Your citizens deserve better.

[Expyinflight]

winnietrey wrote:
There is a small minority( relatively speaking) Like Big Kanuna, us and some others that have posted. To be part of this special group you must be.

1) old, but not old enough for Medicare.
2) Not have insurance through an employer
3) make to much for any government help
4) but not enough to be "rich"

As a part of this lucky group, our premiums for lousy coverage are now about 20% plus of our household income.

Because we are a small minority, no one cares much. But if the average American,
was paying those kinds of rates, for what is basically catastrophic coverage, and not some Cadillac plan. I would bet things would change pretty quick in my opinion.

We are part of that minority category also. We are 60 and 62. Our "affordable" health insurance is anything but, and pays for very little. Monthly premiums this year were $800 and $1,100. Of course we all know 2018 will bring another increase.

[FunnyCamper]

One thing I am researching right now is the Christian Healthcare ministries that are out there. They are approved as insurance and one incurs no penalty from the govt. Just kinda that radical change in how one pays for their bills and I just need more research etc but I see prems are way more affordable in this scenario. Another avenue to explore for us right now.