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03-27-2017, 12:52 AM
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#1
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Recycles dryer sheets
Join Date: Jan 2014
Posts: 456
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No Medicare Coverage
Has anyone reached the age of 65 and retired without Medicare coverage? I know someone will be in that situation and never paid into the SS/Medicare system and; therefore, will not qualify for either. They won't be covered by work related healthcare either. If you're in that situation, how have you managed?
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03-27-2017, 01:41 AM
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#2
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Full time employment: Posting here.
Join Date: Dec 2013
Location: San Diego
Posts: 880
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Yes I know of two people in this situation. One was a 50-ish lady, single mother and self employed artist. She never filed a tax return in her life, but kept up her looks. She married herself out of the situation.
Another guy and his wife immigrated to the U.S. not long enough to get SS and no retirement from their home country. Also apparently preferred to live large rather than save. Recently told me he and his wife will have to work until they die.... but that they "like" their work.
Life is certainly a crazy balancing act, enjoying the present while saving for the unknown future. Makes me realize how lucky I am.
__________________
Merrily, merrily, merrily, merrily,
Life is but a dream.
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03-27-2017, 01:58 AM
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#3
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Thinks s/he gets paid by the post
Join Date: Jul 2005
Posts: 2,223
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IIRC, if 65 + but did not qualify , you can buy into medicare, but it's quite expensive. ACA policy should cost less.
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03-27-2017, 09:06 AM
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#4
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Full time employment: Posting here.
Join Date: Oct 2006
Posts: 780
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Quote:
Originally Posted by PERSonalTime
Has anyone reached the age of 65 and retired without Medicare coverage? I know someone will be in that situation and never paid into the SS/Medicare system and; therefore, will not qualify for either. They won't be covered by work related healthcare either. If you're in that situation, how have you managed?
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My FIL never had Medicare coverage even though for many years he paid into SS/Medicare system. As I understand it when he turned 65 he never signed up for Medicare, hence, never started paying the monthly premiums. I assume he never signed up for it as he is a veteran and felt he could always get his health care for free thru the VA. Yes, he has always been really cheap, sometimes to his detriment.
When he finally figured out that Medicare would have been the smart way to go, he would have been required to pay huge monthly premiums to make up for the number of years he did not pay premiums. Of course by then it was no longer an option because he could not afford the cost. Over the years he neglected his health because it is a long distance to the nearest VA clinic and even further to the nearest VA hospital. My opinion is the care/service he received from the VA was inferior to what he would have received locally using Medicare.
__________________
***********
My motto is.... "a dollar saved is better than a dollar earned. I don't pay tax on the dollar I saved."
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03-27-2017, 10:32 AM
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#5
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Thinks s/he gets paid by the post
Join Date: Jul 2009
Location: Miraflores,Peru
Posts: 1,992
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While I will qualify for medicare in 2 years, I do not plan to use it. I live overseas and can buy a policy here that will give me far better care then I could recieve in the US with the exception of about 100 or so hospitals scattered around the USA.
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03-27-2017, 10:49 AM
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#6
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Thinks s/he gets paid by the post
Join Date: Oct 2009
Posts: 1,190
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Quote:
Originally Posted by NYEXPAT
While I will qualify for medicare in 2 years, I do not plan to use it. I live overseas and can buy a policy here that will give me far better care then I could recieve in the US with the exception of about 100 or so hospitals scattered around the USA.
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Unless I was 1000% I was never, ever coming back to US, I think I'd look for the cheapest Medicare solution to preserve the option to return to US.
But that's me: a belt and suspenders kind of guy...
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03-27-2017, 11:08 AM
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#7
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gone traveling
Join Date: Apr 2011
Posts: 3,375
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Quote:
Originally Posted by LARS
But that's me: a belt and suspenders kind of guy...
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Why would one need both?
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03-27-2017, 11:17 AM
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#8
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Moderator
Join Date: Apr 2012
Location: San Diego
Posts: 14,140
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Quote:
Originally Posted by NYEXPAT
While I will qualify for medicare in 2 years, I do not plan to use it. I live overseas and can buy a policy here that will give me far better care then I could recieve in the US with the exception of about 100 or so hospitals scattered around the USA.
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I think it's still pay for Medicare B. Just in case. It's not that expensive.
__________________
Retired June 2014. No longer an enginerd - now I'm just a nerd.
micro pensions 6%, rental income 20%
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03-27-2017, 11:25 AM
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#9
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Thinks s/he gets paid by the post
Join Date: Oct 2009
Posts: 1,190
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Quote:
Originally Posted by gerntz
Why would one need both?
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Take you pick for an answer:
A. God laughs while man makes plans
or
B. Life is what happens while you're busy making other plans.
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03-27-2017, 11:57 AM
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#10
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Thinks s/he gets paid by the post
Join Date: Jul 2009
Location: Miraflores,Peru
Posts: 1,992
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I should have been more clear, I will keep medicare A and B (pay for B), but I doubt I will use it. Likewise, I will keep my private policy in force down here, even if I move to the USA for a few years (as is our plan). If you do not keep it in force after age 65 (you lose it forever) and the premiums are capped at age 70 until you die.
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03-27-2017, 12:53 PM
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#11
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2014
Location: Huntsville, AL/Helen, GA
Posts: 6,002
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I once did business with a gentleman that operated his business as SubCHapter S. And he was unprofitable for many, many years--not paying any income taxes.
When he turned retirement age, he closed the business and applied for Social Security. Needless to say he didn't pay into the system and he didn't get much of anything out of it. Might be the say way for Medicare.
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03-27-2017, 03:45 PM
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#12
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 37,931
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Quote:
Originally Posted by Tom52
My FIL never had Medicare coverage even though for many years he paid into SS/Medicare system. As I understand it when he turned 65 he never signed up for Medicare, hence, never started paying the monthly premiums. I assume he never signed up for it as he is a veteran and felt he could always get his health care for free thru the VA. Yes, he has always been really cheap, sometimes to his detriment.
When he finally figured out that Medicare would have been the smart way to go, he would have been required to pay huge monthly premiums to make up for the number of years he did not pay premiums. Of course by then it was no longer an option because he could not afford the cost. Over the years he neglected his health because it is a long distance to the nearest VA clinic and even further to the nearest VA hospital. My opinion is the care/service he received from the VA was inferior to what he would have received locally using Medicare.
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Wow!
__________________
Retired since summer 1999.
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03-27-2017, 04:04 PM
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#13
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Thinks s/he gets paid by the post
Join Date: Oct 2015
Posts: 2,301
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Quote:
Originally Posted by rodi
I think it's still pay for Medicare B. Just in case. It's not that expensive.
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Very much agree!! Cheap insurance
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03-27-2017, 04:10 PM
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#14
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,204
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Quote:
Originally Posted by Bamaman
I once did business with a gentleman that operated his business as SubCHapter S. And he was unprofitable for many, many years--not paying any income taxes.
When he turned retirement age, he closed the business and applied for Social Security. Needless to say he didn't pay into the system and he didn't get much of anything out of it. Might be the say way for Medicare.
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DW has a friend who is in a similar position... she has continually worked in numerous low wage jobs... often under the table and paid little in income taxes or SS tax (she has paid some since some of her jobs have been W-2 above the table).
I don't think she has any clue how screwed she will be when she is in her 60s and beyond. Sad.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
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03-27-2017, 04:18 PM
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#15
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 37,931
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40 quarters (10 years) paying FICA and you're eligible for Medicare. Or you're eligible through your spouse or ex-spouse (10 years married) if they meet that work requirement.
I don't think it matters how little you earned as long as you paid some in Medicare during each of 40 quarters.
__________________
Retired since summer 1999.
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