walkinwood
Thinks s/he gets paid by the post
.. continuing my thoughts as I come close to ER.
If you are interested, you can see my earlier post here
http://www.early-retirement.org/forums/f28/29-days-go-34517.html
Days to go: 25
State of Mind today: Relaxed.
Healthcare
For ERs, healthcare expenses are probably the biggest concern. I have 17 years to go till I qualify for Medicare and wife has 20, so health care costs are a HUGE concern. We have no employer sponsored retirement healthcare waiting for us.
New Jersey is a "community rating" state, so while we are assured of getting insurance with no discrimination due to age, sex or health, the rates are high.
A high deductible HMO plan with unlimited lifetime benefits costs $319/mo per person. For some reason, it is less expensive to get two individual plans! The plan is an HMO with a deductible ($2500) and co-insurance (50%). Maximum annual out of pocket of $5000 and copay for primary physician is $40. In essence this is a "catastrophic" plan to keep us from going broke if we get seriously ill.
There is a new initiative in NJ sponsored by State Senator Vitale to make coverage universal. According to their 'white paper', they believe premiums could drop 75%. I'm not holding my breath.
We are eligible for continuing coverage throught COBRA for the next 18 months, and are waiting to see what it will cost us before we make a decision.
Luckily, we are healthy today, so hope to keep our out of pocket expenses manageable in the near future. Fingers crossed, knock on wood.
If you are interested, you can see my earlier post here
http://www.early-retirement.org/forums/f28/29-days-go-34517.html
Days to go: 25
State of Mind today: Relaxed.
Healthcare
For ERs, healthcare expenses are probably the biggest concern. I have 17 years to go till I qualify for Medicare and wife has 20, so health care costs are a HUGE concern. We have no employer sponsored retirement healthcare waiting for us.
New Jersey is a "community rating" state, so while we are assured of getting insurance with no discrimination due to age, sex or health, the rates are high.
A high deductible HMO plan with unlimited lifetime benefits costs $319/mo per person. For some reason, it is less expensive to get two individual plans! The plan is an HMO with a deductible ($2500) and co-insurance (50%). Maximum annual out of pocket of $5000 and copay for primary physician is $40. In essence this is a "catastrophic" plan to keep us from going broke if we get seriously ill.
There is a new initiative in NJ sponsored by State Senator Vitale to make coverage universal. According to their 'white paper', they believe premiums could drop 75%. I'm not holding my breath.
We are eligible for continuing coverage throught COBRA for the next 18 months, and are waiting to see what it will cost us before we make a decision.
Luckily, we are healthy today, so hope to keep our out of pocket expenses manageable in the near future. Fingers crossed, knock on wood.
