Join Early Retirement Today
Closed Thread
 
Thread Tools Search this Thread Display Modes
Is anyone here still working only for health insurance benefits?
Old 10-09-2018, 11:03 AM   #1
Dryer sheet wannabe
 
Join Date: Mar 2013
Posts: 19
Is anyone here still working only for health insurance benefits?

I think it used to be common for people to work just for health benefits. Folks might have had enough saved to cover their expenses in retirement but had no way to obtain health coverage. With the ACA in place some people felt comfortable enough with it to retire believing reliable health care would be available as long as they needed it.

We didnt have enough NW for retirement when the ACA first came out. Now we do, IF we could count on it being available for 8 years. That feels like too big of a risk right now.

So, is anyone else still working ONLY for health insurance? Would you retire and go on ACA if the US House of Representatives turned over to a Democratic majority next month?
__________________

ImaCheesehead is offline  
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 10-09-2018, 11:12 AM   #2
Full time employment: Posting here.
dtbach's Avatar
 
Join Date: Apr 2011
Location: Madison
Posts: 891
Sure
__________________

__________________
Wild Bill shoulda taken more out of his IRA when he could have. . . .
dtbach is offline  
Old 10-09-2018, 11:14 AM   #3
Full time employment: Posting here.
GTFan's Avatar
 
Join Date: Apr 2013
Location: Atlanta
Posts: 732
I'm not following why Dems controlling House has anything to do with future of ACA. They couldn't get it replaced with R's in control and have no intent on revisting it.
GTFan is offline  
Old 10-09-2018, 11:15 AM   #4
Dryer sheet aficionado
COZICAN's Avatar
 
Join Date: Aug 2018
Posts: 41
"IF we could count on it being available for 8 years"
This is why i'm still working. One heart attack or stroke without insurance can break a person. I'm hoping for some nice mid-term promises.
COZICAN is online now  
Old 10-09-2018, 11:23 AM   #5
Full time employment: Posting here.
hesperus's Avatar
 
Join Date: Aug 2013
Location: san juan mountains, co
Posts: 729
Or working at a specific job they hate just for the health insurance. They might choose a different job (or company) if not for that.
That may be more common.
hesperus is offline  
Old 10-09-2018, 11:41 AM   #6
Recycles dryer sheets
 
Join Date: Dec 2013
Location: Houston
Posts: 89
Me! I've downshifted to a part time job so I have more free time, but still get heavily-subsidized health insurance.

I check out the ACA offerings every year & in my zip code there have been no PPOs available for several years. I've heard too many horror stories of HMO restrictions & limited providers to take that risk at this point.
HtownRose is online now  
Old 10-09-2018, 11:46 AM   #7
Thinks s/he gets paid by the post
 
Join Date: Mar 2015
Posts: 1,594
Quote:
Originally Posted by GTFan View Post
I'm not following why Dems controlling House has anything to do with future of ACA. They couldn't get it replaced with R's in control and have no intent on revisting it.
That's pure conjecture on your part. Some have expressed an intent.
__________________
Old enough to know better.
joeea is online now  
Old 10-09-2018, 11:46 AM   #8
Thinks s/he gets paid by the post
38Chevy454's Avatar
 
Join Date: Sep 2013
Location: Cincinnati, OH
Posts: 1,808
I worked about a year longer in order to keep health insurance. I was fortunate that I was able to keep all my benefits and switch to part-time.
__________________
After Monday & Tuesday even the calendar says, W-T-F...

Semi-Retired 7/1/16: working part-time (60%) for now [4/24/17 changed to 80%]
Retired Aug 2, 2017; age 53
38Chevy454 is offline  
Old 10-09-2018, 11:53 AM   #9
Thinks s/he gets paid by the post
Fedup's Avatar
 
Join Date: Mar 2014
Location: Southern Cal
Posts: 3,788
My sister still works for health insurance. Come to think about it, one of my brothers is in this boat, he’s already qualified for Medicare but his wife isn’t, she is only 61.
Fedup is offline  
Old 10-09-2018, 12:43 PM   #10
Thinks s/he gets paid by the post
 
Join Date: May 2014
Location: Utrecht
Posts: 2,484
Blissful, health insurance is covered here not matter what I do. So it doesn't factor in.
Totoro is offline  
Old 10-09-2018, 01:18 PM   #11
Recycles dryer sheets
Beldar's Avatar
 
Join Date: Oct 2014
Posts: 415
We RE'd and are managing our income for the ACA. So far so good. My PCP of over 20 yrs is not in network so I am a cash payer for him; I view the "insurance" as a cushion for any major expense, to be honest. Medicare is a ways out for us.

If something changed and Health Insurance was no longer available via ACA I certainly would consider part time work in order to obtain an employer's coverage.

But I'm not worrying about it.

_B
Beldar is offline  
Old 10-09-2018, 01:29 PM   #12
Thinks s/he gets paid by the post
 
Join Date: Jun 2003
Location: Historic Florida
Posts: 2,305
So sad this is even being discussed. You would think America could sort this out once and for all. It is the most important issue for the most amount of people. Good Comprehensive, affordable healthcare coverage, but it is constantly on the back burner and hardly ever mentioned when people discuss quality of life.
__________________
"Arguing with an Engineer is like rolling in the mud with a pig. Just remember that the pig likes it."
ShokWaveRider is online now  
Old 10-09-2018, 01:40 PM   #13
Thinks s/he gets paid by the post
 
Join Date: Aug 2013
Location: North
Posts: 1,326
My DF did. They denied him an early retirement package, so he stuck around two years getting joints replaced. The day he came back from his second knee replacement, he quit.
__________________
AA (Stock/Bond/Cash ): 99/0/1% MIX (Small/Mid/Large): 50/25/25% BLEND(US/Foreign): 100/0%, REIT (Real Estate Equity): 50% of Assets

FIRE in 2031 @ 50yrs old (+/- 2yrs) w/ a hypothetical $2.5mil portfolio, 3 appreciated homes worth $1.0mil and rental income to fund my gap years until RMD. Assets will go to an inherited IRA where I plan on watching the investments grow until I die or the trust gets executed.
kgtest is online now  
Old 10-09-2018, 01:57 PM   #14
Thinks s/he gets paid by the post
 
Join Date: Mar 2015
Posts: 1,594
Quote:
Originally Posted by kgtest View Post
My DF did. They denied him an early retirement package
Are you saying they wouldn't give him an early retirement package he was entitled to?

Or are you just saying that he wanted to retire early and they wouldn't create a package specifically for him?
__________________
Old enough to know better.
joeea is online now  
Old 10-09-2018, 02:13 PM   #15
Thinks s/he gets paid by the post
 
Join Date: Aug 2013
Location: North
Posts: 1,326
Quote:
Originally Posted by joeea View Post
Are you saying they wouldn't give him an early retirement package he was entitled to?

Or are you just saying that he wanted to retire early and they wouldn't create a package specifically for him?
My understanding was it was socialized that anyone interested let it be known. So he did. Then when the time came those that were selected received one. He was not selected and manager said he was too valuable. It all seemed fishy to me...but like I said DF just stayed on the payroll and had some joints replaced until he was medicare eligable. He kept gis customers happy but after that dissapointment he was no longer friendly with managment.
kgtest is online now  
Old 10-09-2018, 02:18 PM   #16
Full time employment: Posting here.
USGrant1962's Avatar
 
Join Date: Dec 2016
Location: DC area
Posts: 632
Quote:
Originally Posted by ShokWaveRider View Post
So sad this is even being discussed. You would think America could sort this out once and for all. It is the most important issue for the most amount of people. Good Comprehensive, affordable healthcare coverage, but it is constantly on the back burner and hardly ever mentioned when people discuss quality of life.
Well, it is not the most important issue for the most amount of people. 90% or so of Americans have coverage through employers, Medicare, and Medicaid. About 3% are on ACA exchanges, and the rest uninsured, though many of those are eligible for Medicaid/subsidized ACA/CHIP insurance.

A pie chart from 2016 here: SHOW YOUR WORK: Healthcare Coverage Breakout for the Entire U.S. Population in 1 Chart | ACA Signups
__________________
Semi-ER March 24, 2017
USGrant1962
USGrant1962 is online now  
Old 10-09-2018, 02:21 PM   #17
Thinks s/he gets paid by the post
 
Join Date: Jan 2018
Location: Tampa
Posts: 1,789
I am willing to take the chance, so retired last year with the management of ACA income being a decent part of the decision. I could afford more medical expenses if necessary, but it would come as a cost to our travel plans.
Nevertheless, I refuse to work again, so will live with whatever it takes.
__________________
TGIM
Dtail is offline  
Is anyone here still working only for health insurance benefits?
Old 10-09-2018, 02:21 PM   #18
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
HFWR's Avatar
 
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 13,325
Is anyone here still working only for health insurance benefits?

Quote:
Originally Posted by ShokWaveRider View Post
You would think America could sort this out once and for all.
No, well just keep swerving from the left ditch to the right ditch to the left ditch, ad nauseum...

I was lucky enough to inherit heavily subsidized insurance for my 25 years at Megaconglomocorp, or Id still be w*rking...
__________________
Have Funds, Will Retire

...not doing anything of true substance...
HFWR is offline  
Old 10-09-2018, 02:36 PM   #19
Dryer sheet wannabe
 
Join Date: Mar 2013
Posts: 19
So, even in this (relatively) small community, there are still quite a few people who are working for health insurance when they have the financial assets to otherwise retire.

My DH doesn’t have the option to go PT. He works remotely but is in a very specialized field. Since we are also full time travelers neither of us could pick up a PT job just for the health care. At 61.5 he has already outlived his parents and sibling and I think he will have fewer years of retirement than most.

This is just so maddening. [mod edit] . . . [W]ithout guaranteed insurability we would be seriously SOL. [mod edit]
ImaCheesehead is offline  
Old 10-09-2018, 02:37 PM   #20
Thinks s/he gets paid by the post
Fedup's Avatar
 
Join Date: Mar 2014
Location: Southern Cal
Posts: 3,788
My sister has been using ACA on and off for years. The reason she’s still working is because she can use the money she earns to pay for health care, so she wouldn’t be a nest egg user. Next year, if she decides to retire, she will be on Medicare.
__________________

Fedup is offline  
Closed Thread


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Anyone here still own Intel? Anyone considering selling now? Mulligan Stock Picking and Market Strategy 42 03-30-2015 05:39 AM
Hi! Threatened w/loss of health ins benefits; wants more info on H/W only coverage The Wifa Hi, I am... 9 08-18-2009 11:52 AM
FIRE Now vs. Working to Obtain Health Insurance Benefits GMueller FIRE and Money 23 12-07-2006 02:30 PM

» Quick Links

 
All times are GMT -6. The time now is 09:48 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.