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Old 11-26-2012, 05:58 AM   #21
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Not retired yet, but I'm using $1500/mo or $18k/yr in my planning spreadsheet. My company retirement medical is ~$1000/mo now. We probably haven't lost it because the retirees pay nearly the entire premium. Hopefully, Medicare will still be around and the $1500 will drop WAY off at 65.
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Old 11-26-2012, 05:47 PM   #22
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Does Medicare in the US cover everything after 65?

My friends over 65 tell me that Medicare covers 80% but at US healthcare costs the 20% can bankrupt you. But then they tell me that in practice they're never paid anything out-of-pocket. I'm trying to decide if I can afford healthcare the US or just go back home to Canada.
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Old 11-26-2012, 05:56 PM   #23
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I'm guardian for my great aunt and take care of her finances. She has a Medicare supplement insurance policy that costs her about $200 a month. Between that and Medicare, she doesn't pay a thing.

She might have to in certain situations, be even with a couple hospital visits earlier this year she hasn't had to pay a thing.
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Old 11-27-2012, 09:57 AM   #24
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Originally Posted by Free_at_49 View Post
Does Medicare in the US cover everything after 65?

My friends over 65 tell me that Medicare covers 80% but at US healthcare costs the 20% can bankrupt you. But then they tell me that in practice they're never paid anything out-of-pocket. I'm trying to decide if I can afford healthcare the US or just go back home to Canada.
My own personal experience is that Medicare never pays the full amount the dr charges. But most of the time, my dr accepts the Medicare payment and does not send the balance to my supplementary ins.

My supplementary ins has a high deductible so I have yet to ever reach it. I have it because it is very cheap, covers drugs, and is there should I ever incur really expensive bills.
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Old 11-27-2012, 10:45 AM   #25
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I'm guardian for my great aunt and take care of her finances. She has a Medicare supplement insurance policy that costs her about $200 a month. Between that and Medicare, she doesn't pay a thing.

She might have to in certain situations, be even with a couple hospital visits earlier this year she hasn't had to pay a thing.
So that would be about $300 in premiums including Medicare Part B. Most people will have some extra out of pocket expenses as well. For most retirees in other countries those costs seem outrageously high. I also have an issue with the ridiculous complexity of US retiree health insurance. There are so many bits and pieces and options that I'm sure very few people undestand what's covered.
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Old 12-04-2012, 06:57 AM   #26
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Interesting update this morning from USA Today :

Health insurers learn how to woo customers: http://www.usatoday.com/story/money/...elves/1744147/
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Old 12-08-2012, 07:51 AM   #27
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Interesting update this morning from USA Today :

Health insurers learn how to woo customers: Health care overhaul means insurers will pitch wares to individuals

It’s very sad to read that, Americans still see healthcare as a business. Why should insurance brokers be taking a share of your health care dollars? Insurance companies are just unnecessary middlemen.
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Old 12-08-2012, 08:10 AM   #28
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From what you guys are saying, for people over 65, Medicare does NOT cover everything as it does in Canada and the EU. So the threat of huge unexpected expenses scares retirees into buying additional insurance? $300/mo.

A few days ago I got my annual renewal from BlueCross, a 30% increase to ~$320/month and it pays for NOTHING! It only kicks-in after I’ve paid the first $5,000. And in a few years when I’m 65 I will still be paying the same or more for supplemental insurance?
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Old 12-08-2012, 08:20 AM   #29
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I pay $45/mo for a Medicare supplement policy which has a $2,000 deductible before it kicks in.
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Old 12-08-2012, 09:45 AM   #30
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From what you guys are saying, for people over 65, Medicare does NOT cover everything as it does in Canada and the EU. So the threat of huge unexpected expenses scares retirees into buying additional insurance? $300/mo.
In the US Medicare Part A is free, Part B costs $99 per month and then you have to buy a supplemental policy to cover drugs and stuff that parts A and B don't cover. You'll be looking at around $200/month min and there will be deductibles and co-pays too. The worst aspect of the system is it's complexity and "patch work quilt" of numerous coverages.

So the answer to your question is that US retirees have to pay on going health care premiums in retirement even after a lifetime of paying for medicare through payroll taxes and on top of that there's out of pocket costs. It's not like the UK where there's no out of pocket costs for the NHS and no premiums to pay.
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Old 12-08-2012, 10:11 AM   #31
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In the US Medicare Part A is free, Part B costs $99 per month and then you have to buy a supplemental policy to cover drugs and stuff that parts A and B don't cover. You'll be looking at around $200/month min and there will be deductibles and co-pays too. The worst aspect of the system is it's complexity and "patch work quilt" of numerous coverages.

So the answer to your question is that US retirees have to pay on going health care premiums in retirement even after a lifetime of paying for medicare through payroll taxes and on top of that there's out of pocket costs. It's not like the UK where there's no out of pocket costs for the NHS and no premiums to pay.
Gee I wonder (not really) where the money comes from that does pay for all that UK care.
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Old 12-08-2012, 10:48 AM   #32
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Obviously general taxation revenue so the UK retiree contributes through that. But the UK taxation levels are similar to those in the US. The US retiree also gets a raw deal because of the inflated cost of US healthcare and the ridiculous complexity of the system.
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Old 12-08-2012, 11:02 AM   #33
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Gee I wonder (not really) where the money comes from that does pay for all that UK care.
The beauty of their system is that the money doesn't have to come from anywhere. Everything is free because it costs nothing! Docs, clinics, hosptitals, drugs...... all exist at zero cost due to superior management of the system by gov't.
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Old 12-08-2012, 11:09 AM   #34
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The beauty of their system is that the money doesn't have to come from anywhere. Everything is free because it costs nothing! Docs, clinics, hosptitals, drugs...... all exist at zero cost due to superior management of the system by gov't.
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Old 12-08-2012, 11:30 AM   #35
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The beauty of their system is that the money doesn't have to come from anywhere. Everything is free because it costs nothing! Docs, clinics, hosptitals, drugs...... all exist at zero cost due to superior management of the system by gov't.
The UK system has many issues and is only free at the point of service. ie there's no billing to the patient form the hospital or doctor. The NHS costs a lot, but half as much per capital as US healthcare, and people fund it through taxation. Americans should be addressing the outrageous costs and complexity of their system as they are far greater than in any other country. There are many more efficient health systems around the world so the US has examples that could save money and reduce complexity. It's the US consumer of health care that looses out in the current system.
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Old 12-08-2012, 11:46 AM   #36
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The UK system has many issues and is only free at the point of service. ie there's no billing to the patient form the hospital or doctor. The NHS costs a lot


Gee..... From the tone of many comments here, I was led to believe that the UK system (and several other national health systems) were free. Thanks for clearing that up.
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Old 12-08-2012, 11:48 AM   #37
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The UK system has many issues and is only free at the point of service. ie there's no billing to the patient form the hospital or doctor. The NHS costs a lot, but half as much per capital as US healthcare, and people fund it through taxation. Americans should be addressing the outrageous costs and complexity of their system as they are far greater than in any other country. There are many more efficient health systems around the world so the US has examples that could save money and reduce complexity. It's the US consumer of health care that looses out in the current system.
True, but in the US the practitioner also loses. What most demotivates doctors is the administrative burden imposed by the different payers Medicare, Medicaid and private insurers. The shame of the US system is there are so many put off by it.
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Old 12-08-2012, 11:49 AM   #38
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Gee..... From the tone of many comments here, I was led to believe that the UK system (and several other national health systems) were free. Thanks for clearing that up.
Well, at half the cost of the US health care with better coverage, "almost free" "almost" describes it.
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Old 12-08-2012, 11:52 AM   #39
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The UK system has many issues and is only free at the point of service. ie there's no billing to the patient form the hospital or doctor. The NHS costs a lot, but half as much per capital as US healthcare, and people fund it through taxation. Americans should be addressing the outrageous costs and complexity of their system as they are far greater than in any other country. There are many more efficient health systems around the world so the US has examples that could save money and reduce complexity. It's the US consumer of health care that looses out in the current system.

Same thing in Canada, the per capita cost of health care is about 1/2 of the US and healthcare is better, and doctors there are not businessmen or drug salesmen.
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Old 12-08-2012, 12:01 PM   #40
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OK so next year “Health Insurance Exchanges” will go into effect. I keep googling but I can’t get any details. Will I be able to buy a plan that covers ALL my healthcare without additional expenses?
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