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Old 04-26-2008, 06:54 PM   #61
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Premium 175/month $2100 annual
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Location Honolulu, HI.

The blue cross equivalent offered a HSA for $1100/year with a 3K deductible but I didn't qualify
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Old 04-27-2008, 12:42 PM   #62
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These numbers blow me away.

I am stunned that people are paying 10k per year in premiums and still have huge deductibles.

I was recently told by an older retiree, that the single greatest reason he is thankful that he stayed in and retired from the military is Tricare.

That seems a bit of a sad commentary on our current system. The problem with the politicians that say they want to increase choice for health care consumers is that we don't get to neccasarily choose our insurance providers, they choose us.
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Old 04-27-2008, 01:44 PM   #63
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Quote:
Originally Posted by Johnphx View Post
These numbers blow me away.

I am stunned that people are paying 10k per year in premiums and still have huge deductibles.

I was recently told by an older retiree, that the single greatest reason he is thankful that he stayed in and retired from the military is Tricare.

That seems a bit of a sad commentary on our current system. The problem with the politicians that say they want to increase choice for health care consumers is that we don't get to neccasarily choose our insurance providers, they choose us.
It isn't appropriate to compare federal benefit costs to private insurer costs. The federal government doesn't have to file their premium schedules with the local state insurance commissioner, maintain reserves with local state government, pay premium taxes, or business taxes. They also don't pay the claims -- but the do pay private industry to do that for them and hold them to the lowest cost arrangement they can negotiate.

You are correct that it is a sad commentary on how different private insurance is from group insurance. That's the power of bulk purchasing, and favorable/unfavorable legislation for group v. individual insurance.

-- Rita
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Old 04-27-2008, 02:30 PM   #64
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51, 46, 17, 14
$5035 yearly
$5000 deductable
One Dr visit covered per year - mammo.& pap. covered bi-annually.
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Old 04-27-2008, 03:03 PM   #65
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I changed my insurance in January and moved up a year.

Number of people: 1
Ages: 55
Annual premium: $3,108
Deductible: $2700 (HSA) Kaiser HMO
Location: California
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Old 04-27-2008, 03:13 PM   #66
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I have noticed alot of people on this board have HSA accounts.

I find that interesting. I switched to a high deductible plan w/HSA in Jan '07 and talked about it with alot of co-workers.

I was a little taken aback at how many people are pretty much deadset against giving up their $20 copays regardless of the fact they are paying significant premiums and in alot of cases rarely if ever go to the doctor.

The one drawback I suppose is that since having my HSA plan, I have not gone to the doctor once, because I don't want to pay for it. Does anyone else find themselves not going in order to avoid tapping their HSA funds?
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Old 04-27-2008, 03:15 PM   #67
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Number of people: 2
Ages: 62 and 64
Annual premium: $3955
Deductible: None. 20% copay and annual limit per person (e.g. $700) for each of dental, drugs, eyeglasses, etc.
Location: Vancouver, Canada

Includes travel insurance for multiple trips to US.

Estimated annual sin taxes paid to subsidize universal healthcare: $9980
(granted these are all discretionary but we are pretty sinful)

All USD at 5% exchange.
? I thought you all had FREE healthcare in Canada. What am I missing?
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Old 04-27-2008, 03:33 PM   #68
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I've had to go to the doctor and ER once each and got a few Rxs too. When I have a medical expense I just pay for it and let that dollar amount apply to my deductible. If I have something catastrophic where I meet my deductible, I'll consider tapping the HSA account. But for now, I'm not planning on tapping into it.
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Old 04-27-2008, 03:35 PM   #69
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Number of people: 2
Ages: 57/57
Deductible: 1500
Annual premium: $8000
Deductible - $1500
Location: IL
COBRA policy. Company retiree policy would be $11,000 (same policy), which will be one of the options at the end of this year.

I think I need to look at higher deductibles.
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Old 04-27-2008, 03:42 PM   #70
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Originally Posted by Johnphx View Post

That seems a bit of a sad commentary on our current system. The problem with the politicians that say they want to increase choice for health care consumers is that we don't get to neccasarily choose our insurance providers, they choose us.
I caught the tail end of a story on CNN where a guy had cancerous neck tumors and no health insurance. He made $30K as a photographer - so too much for medicaid.

So to get his tumor operated he married a friend of his who had health insurance - to get on her coverage.

We talk a lot about financial and inflation risk in the future. Mabe the bigger risk on ER is one's health and ability to hold insurance.
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Old 04-27-2008, 04:39 PM   #71
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Quote:

We talk a lot about financial and inflation risk in the future. Mabe the bigger risk on ER is one's health and ability to hold insurance.
Yeah, health and divorce are the FIRE killers. Yet we run spread sheets to nausea.
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Old 05-03-2008, 10:03 AM   #72
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That's why I asked. So it's your ballpark estimate contribution to the Canadian health system, but not your cost. If you were making 2x as much money your contribution would be higher, but the cost is the same.

As far as "saint" is concerned, I have only two words "yeah, right"


Sorry for the late reply. I have a life!
Here are the actual per capita costs. My own are certainly less than average (and long may it remain so!)

"Total health expenditure per capita in Canada was estimated at $4,373 in 2005 and is forecast to be $4,606 in 2006 and $4,867 in 2007. Total health expenditure per capita varies among the provinces. In 2007, Alberta and Manitoba are forecast to spend more per person on health care than any other province, at $5,390 and $5,250, respectively. Quebec and Prince Edward Island are forecast to have the lowest expenditure per capita at $4,371 and $4,686, respectively."


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Old 05-03-2008, 10:16 AM   #73
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It should be noted that Meadb's quoted numbers have no deductible and no copayments.

However, they do not include drugs, eyes or teeth (except reconstructive surgery and cataracts). These are often provided through an employer's plan or directly with Blue Cross type plans, and most often require a contribution.
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Old 05-03-2008, 10:40 AM   #74
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Family HSA

$412.84 per month
Ages 44, 43, and two kids
Family deductible $5000 pays 100% after that
Typical Wellness care for all four is covered 100% in the premium

Premium increase this year 11% with no claims
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Old 05-03-2008, 11:11 AM   #75
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2 people, both retired. Both 63. Live in Minnesota. Was self employed as a consultant from 2001 to 2006.
$397/month. $10k deductable each. 100% coverage after that, to $5MM lifetime. Has increased about 30% in 8 years.
Non smoking and non substance abuse coverage, whatever that means. Don't smoke and don't eat at McD's much
Luckily, we're healthy.

Has been a good deal compared to the premiums low deductables would have cost. Their (BCBS) HSA's were also not such a good deal.

We do as many common sense things as possible to stay healthy. Excercise, walk at least 15 mi/wk, preventive care - physicals, colonoscopy (yukkk), vitamins, etc.
Plan to stay away from hospitals! They're full of sick people and germs!!!
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Old 05-03-2008, 06:26 PM   #76
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What happens if a person with no assets retires before 65 in the USA without health insurance? Assuming he doesn't get cancer or anything costing more than 10K a year it seems he might be better off than paying 10K in premiums and deductables.
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Old 05-03-2008, 06:36 PM   #77
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What happens if a person with no assets retires before 65 in the USA .
They probably starve to death before disease or injury takes them. Down here, it really pays to have some assets if you're going to RE.
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Old 05-03-2008, 07:25 PM   #78
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This is a great thread for me because I'm a few years away from full retirement, now have health insurance through my employer, have very little knowledge about health insurance because I very seldom use it, and I'm projecting health insurance costs in RE.

I assume the posters route all medical bills through their insurance, the insurance co pays the bills, and the insureds reimburse the insurance co for all medical bills until the deductible is met?

My employer's insurance co negotiates doctor and hospital bills with the health provider. Do the insurance co's selling individual / family policies negotiate on behalf of the individual / family (even if the insured hasnt yet met the deductible) ?

Do individual / family plan providers have a "list" of doctors and hospitals that the insureds must go to in order to be covered by insurance?
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Old 05-03-2008, 07:27 PM   #79
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Another aspect of individual health insurance for ERs: the exclusions. In my case, all dermatology check ups and care as well as several other exclusions that don't require treatment or care at the moment.

Accounting for premiums and deductibles doesn't always reveal the total cost when there is treatment for exclusions that must be paid for out of pocket.
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Old 05-03-2008, 08:06 PM   #80
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However, they do not include drugs, eyes or teeth (except reconstructive surgery and cataracts). These are often provided through an employer's plan or directly with Blue Cross type plans, and most often require a contribution.
I've never had a health insurance plan that included eyes or teeth. They were optional plans that required a paycheck deduction.

Lacking drug coverage is huge. Maybe more so in the US where drugs are more expensive.
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