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Old 12-09-2011, 02:13 PM   #81
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We are among the top spenders around here, but I knew that without seeing any numbers. I don’t keep a detailed record of our spending but I do monitor it. We have a second home (budget death trap) which is a major draw, and we contribute substantially. Still, our single largest category of spending is health care. Insurance premiums this year will be $23K. This HSA policy allows us the opportunity to pay the first $5K, which we are doing, and it does not cover certain types of services or supplements, which we consume. So, in healthcare alone, our budget this year is over $30K and I do not see that falling.
OMG- You spend more on healthcare than some spend on their entire years budget. I assume when you get to medicare your costs will go down by a substantial margin?
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Old 12-09-2011, 02:34 PM   #82
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OMG- You spend more on healthcare than some spend on their entire years budget. I assume when you get to medicare your costs will go down by a substantial margin?
Yes, that would make a big difference for us. Aside from employer provided and subsidized, I can't see how most can afford this.
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Old 12-09-2011, 02:40 PM   #83
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... Still, our single largest category of spending is health care. Insurance premiums this year will be $23K. This HSA policy...
We also have an HSA with a $10K/yr deductible. However, our premium is a bit more than 1/3 of yours. We are a few years younger. It scares me that my premium may go up that much in a few years. Yet, you are still some years from Medicare eligibility too.
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Old 12-09-2011, 03:49 PM   #84
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We also have an HSA with a $10K/yr deductible. However, our premium is a bit more than 1/3 of yours. We are a few years younger. It scares me that my premium may go up that much in a few years. Yet, you are still some years from Medicare eligibility too.
I'm M-7, just recently. I looked thru my files for the past couple of years because I had a table that showed the cost per age bracket for the same but can't find it. I do know that between inflation and age creep our premium doubled in 3 years ('08-'10).
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Old 12-09-2011, 04:08 PM   #85
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I don't know what M-7 means.

But premium doubling every 3 years? And I still have 10 years till Medicare? That works out to my premium increasing 10X before the pain stops. I am doomed!

Though we have no claims so far because of the $10K deductible, our premium has gone up quite a bit since I had the policy a few years go, though I do not remember off-hand what it was (still below the true pain threshold).

I AM DOOMED!
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Old 12-09-2011, 04:12 PM   #86
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Aside from employer provided and subsidized, I can't see how most can afford this.
I don't either. That's awful. I'm so glad now that I decided to work 2 years beyond FI to qualify for retiree health insurance (thanks, Rich and others who helped me to make that decision).

In a year and a half I will qualify for Medicare and my insurance will become secondary. I just hope that doctors continue to take Medicare patients for the forseeable future.
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Old 12-09-2011, 04:22 PM   #87
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I don't know what M-7 means.

But premium doubling every 3 years? And I still have 10 years till Medicare? That works out to my premium increasing 10X before the pain stops. I am doomed!

Though we have no claims so far because of the $10K deductible, our premium has gone up quite a bit since I had the policy a few years go, though I do not remember off-hand what it was (still below the true pain threshold).

I AM DOOMED!
Breath deeply.

M-7 is the way I view and describe my age. Medicare in 7 years. Just came down 1 and feels like a real achievement. My premium doubled in the '08-'10 period, but this year the increase is much lower (only 2X CPI) and before that I lived in NY (with a real crappy policy) so no additional history with which to compare.

Don't worry. It'll only make you sick and force you to spend your deductible. Relax, and have some wine with dinner.
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Old 12-09-2011, 04:38 PM   #88
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Yeah, I can not imagine trying to acquire health insurance without either employer or retiree subsidy (and group rates). The 30K which MichaelB is paying per year probably would not cover us, based on our health issues. Even with decent insurance, our total is over 10K this year as mentioned earlier. Next year, if we stay reasonably well, our total should go down, but not because we will be on Medicare - only because of fewer claims which is just a hope at this point. DW is running out of parts to replace, I hope!

Those who show monthly expenses of just over $1000 to just under $3000 (the majority of those responding thus far) How do you keep your health care expenses so low? Do you have fantastic insurance covered by former (or current) employer? Do you simply go naked? Even with insurance, I spend (counting LTC insurance) more on health care than some of you spend in total. How do you do that?
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Old 12-09-2011, 04:55 PM   #89
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Reading all these budgets explains why the economy is in such dire straights.
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Old 12-09-2011, 05:24 PM   #90
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Yeah, I can not imagine trying to acquire health insurance without either employer or retiree subsidy (and group rates). The 30K which MichaelB is paying per year probably would not cover us, based on our health issues. Even with decent insurance, our total is over 10K this year as mentioned earlier. Next year, if we stay reasonably well, our total should go down, but not because we will be on Medicare - only because of fewer claims which is just a hope at this point. DW is running out of parts to replace, I hope!

Those who show monthly expenses of just over $1000 to just under $3000 (the majority of those responding thus far) How do you keep your health care expenses so low? Do you have fantastic insurance covered by former (or current) employer? Do you simply go naked? Even with insurance, I spend (counting LTC insurance) more on health care than some of you spend in total. How do you do that?
Fortunately, I'm still covered under an employer's plan. Also, fortunately, I am in good health so that when I retire in 17 months, I'll be able to continue with the employer's plan by contributing $3,000 annually towards it.
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Old 12-09-2011, 05:45 PM   #91
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Breath deeply.

M-7 is the way I view and describe my age. Medicare in 7 years. Just came down 1 and feels like a real achievement...
Ah! And I thought "M dash 7" was some classification used by the insurers to decide how to charge their customer, and some label that I definitely do not want to be applied to myself. Sorry!

It is sad when one wants to age quickly to get to the eligibility age for medical coverage.

PS. I meant no offense, because I was talking about myself too!

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Don't worry. It'll only make you sick and force you to spend your deductible. Relax, and have some wine with dinner.
So, you mean I can resume looking forward to eating gourmet food next year with the money I have been spending on my children, instead of gorging myself on "rabbit food" like my friends have teased me?

Nah! If my blood pressure goes up and I need medication, the insurer would know, because of their discount medicine card that I would use to get medicine. My doctor would not tell, but the insurer's computer would know, right? All the more reasons they have to raise my premium even more.

PS. This is only a half-joke. I worry both about the state of my health as well as the increasing insurance premium. I never spent the time to understand how they determined the premium, but saw it being raised regularly like clockwork while we had no claims.
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Old 12-09-2011, 06:05 PM   #92
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My health insurance will actually go up with medicare since I will have to keep my federal blue cross/blue shield and pay for medicare part B . So the cost of my health insurance will increase by $115 monthly . The blue cross blue shield will pay all the deductibles so if it's a bad year I do well . If it's a healthy year I thank God and pay the extra money .
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Old 12-09-2011, 06:09 PM   #93
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My health insurance will actually go up with medicare since I will have to keep my federal blue cross/blue shield and pay for medicare part B . So the cost of my health insurance will increase by $115 monthly.
That will decrease to $99.xx in 2012.

Ha
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Old 12-09-2011, 07:17 PM   #94
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Ive been very fortunate. Im paying a dollar less than I was when I started my individual plan 15 months ago. Im hoping to avoid a " January surprise".
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Old 12-09-2011, 10:05 PM   #95
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Those who show monthly expenses of just over $1000 to just under $3000 (the majority of those responding thus far) How do you keep your health care expenses so low? Do you have fantastic insurance covered by former (or current) employer? Do you simply go naked? Even with insurance, I spend (counting LTC insurance) more on health care than some of you spend in total. How do you do that?
Speaking as one who posted a budget here, yes, I'm still w*rking, and have good health benefits from my employer (public sector).

Right now I'm budgeting about $1k/mo for self-insured after retirement, which will be about 20-25% of my retirement budget. But I hope it may be less, as we'll be young (30s) with no prior issues. I'll know more as I get closer.
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Old 12-09-2011, 10:48 PM   #96
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Yeah, I can not imagine trying to acquire health insurance without either employer or retiree subsidy (and group rates). The 30K which MichaelB is paying per year probably would not cover us, based on our health issues. Even with decent insurance, our total is over 10K this year as mentioned earlier. Next year, if we stay reasonably well, our total should go down, but not because we will be on Medicare - only because of fewer claims which is just a hope at this point. DW is running out of parts to replace, I hope!

Those who show monthly expenses of just over $1000 to just under $3000 (the majority of those responding thus far) How do you keep your health care expenses so low? Do you have fantastic insurance covered by former (or current) employer? Do you simply go naked? Even with insurance, I spend (counting LTC insurance) more on health care than some of you spend in total. How do you do that?
Living in a state that underwrites and getting accepted and healthy are the keys obviously if you dont have it paid for. I pay $860 a year for a 5k deductible (I am 47). Never have any expenses, so counting my 3k HSA tax deduction, I actually make over a hundred bucks a year profit buying health insurance. I have a friend who him and his wife are in their mid 50's pay $425 a month for a family of four with a $7500 total deductible, that seems real reasonable. Just got him to understand the need to open up his HSA with it. I am always stunned and shocked at the premiums some of our forum members have to pay.
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Old 12-10-2011, 02:27 AM   #97
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Monthly I have spent about $3k in 2011. Living on my own, expensive area. I have also traveled abroad for medical mission. Saved about $150-180k in the same year.
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So, monthly, I spent

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Old 12-10-2011, 12:55 PM   #98
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Those who show monthly expenses of just over $1000 to just under $3000 (the majority of those responding thus far) How do you keep your health care expenses so low? Do you have fantastic insurance covered by former (or current) employer? Do you simply go naked? Even with insurance, I spend (counting LTC insurance) more on health care than some of you spend in total. How do you do that?
After my HI premium rose 50% in 2 years following my ER in late 2008 (3 years ago), I switched to a far cheaper hospital-only HI plan earlier this year. It costs me about $6,000 less per year than my previous plan so as long as I, a healthy person at age 48, do not run up $6,000 per year in out-of-pocket charges which would have been previously covered, I will be no worse than breaking even.

Furthermore, once Obama's ACA becomes fully effective (assuming it survives the SCOTUS and repeal efforts by the GOP) and those exchanges begin, I can switch back to a broader coverage whose premiums are not sky-high like my former plan's ones were. [I live in New York where the individual HI market is very tough and costly for people like me.]
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Old 12-10-2011, 02:09 PM   #99
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Old 12-10-2011, 02:36 PM   #100
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Single, 2700/month, health 745, pet 242, food 511, auto 245, utilities 200, home repair and other issues 320, entertainment 220, the rest "other". It's not the cheapest but still LYBM good enough, that's from June 2010 to May 2011. My fiscal year begins in June because that's when I started keeping track oh those many years ago.
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