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Old 01-23-2014, 08:58 AM   #21
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Location: West of the Mississippi
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Originally Posted by racy View Post
+1 When I retired from megacorp & lost their dental insurance, my dentist advised me that self-insuring would likely be less expensive than purchasing my own plan.
Perhaps. I had a lot of cavities as a youth and the fillings seem to be slowly degrading and causing new problems, so I kept my dental insurance. So far it is has paid off.

The worst decisions are usually made in times of anger and impatience.
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Old 01-23-2014, 09:07 AM   #22
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Join Date: Nov 2009
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Originally Posted by SteveL View Post
You can save a few bucks on your car insurance by dropping the medical coverage. As long as you have your own health insurance, your auto medical is duplicate coverage. You won't be allowed to collect from both. This also applies to PIP coverage if you are no longer working. Some states don't allow PIP, so check your policy.
Most states which allow PIP it is mandatory. Medical Payments, the coverage allowed in non-PIP states, is always optional. It is also offered in some PIP states and is optional there, too. Depending on the state, PIP may include non-medical coverages, mainly wage income loss (which won't matter if you are retired). But sometimes PIP includes other lesser coverages such as essential services and death benefits.

PIP and Med Pay will likely have lower deductibles than personal health insurance, if any at all, something else to be aware of.

Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.

"I want my money working for me instead of me working for my money!"
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