Join Early Retirement Today
Thread Tools Search this Thread Display Modes
wisconsin's high risk health ins. pool
Old 03-06-2006, 08:00 PM   #1
Thinks s/he gets paid by the post
maddythebeagle's Avatar
Join Date: Jun 2005
Posts: 2,450
wisconsin's high risk health ins. pool

interesting article:

- In the 5 years since 2000, the number in the pool has nearly doubled.

- "There's not a private insurer out there who will take you if you have diabetes or cancer or a history of heart disease," said Kitzman of AIS Group.

- There is not good data on the number of people denied coverage in the individual market. The General Accounting Office reportedly estimated that people with severe chronic health problems were rejected about 30% of the time.

- People with a history of mental health problems faced the greatest obstacles: They were rejected 52% of the time.

Even with the subsidies, the insurance can be costly. The premiums vary by age, sex and location. A boy or girl under the age of 18 who lives in Milwaukee, for instance, would pay $1,776 a year. But a man between the ages of 60 and 64 would pay $12,084 a year for insurance with the lowest deductible .


- Hurry! to the cliffs of insanity!
maddythebeagle is offline   Reply With Quote
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 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!

Re: wisconsin's high risk health ins. pool
Old 03-06-2006, 10:58 PM   #2
Recycles dryer sheets
Join Date: Apr 2005
Posts: 58
Re: wisconsin's high risk health ins. pool

My wife and I are 51 and could be enjoying retirement except for one thing, the need for health insurance. She was diagnosed with occult breast cancer a little over a year ago -- the cancer had spread to 4 of her axillary lymph nodes and 1 supraclavicular node. She's had chemo, radiation therapy, multiple surgeries and her last PET scan was clean.

I'm curious if there are any members of this forum that are enrolled in their State's high risk health insurance pool. If so, what type of premium do you pay and what is your deductible? And if you don't mind me asking what is the condition preventing you from obtaining health insurance.

I'm struggling with the need to stay with my current employer for 5 more years to be able to take some heath care benies with me. Given my wife illness, I want to do the things we planned to do in retirement now -- I don't want to wait until it's too late. But I realize being without health coverage would be a major mistake.

We could retire tomorrow and generate $50,000.00 annually off our investments and sell our primary home and move to the condo. But the prospect of paying up to 40% of our annual income for health iunsurance is scary.

Looking for some words of wisdom from folks who might of been there, done that.



dwk is offline   Reply With Quote
Re: wisconsin's high risk health ins. pool
Old 03-07-2006, 09:08 AM   #3
Moderator Emeritus
Martha's Avatar
Join Date: Feb 2004
Location: minnesota
Posts: 13,211
Re: wisconsin's high risk health ins. pool

Maddy, we like Wisconsin and have lived both in Wisconsin and Minnesota. I won't retire in Wisconsin because the risk pool is too expensive there. Minnesota's charges are much cheaper. Plus, Wisconsin makes it harder to get coverage when you are out of the state. Minnesota doesn't.

Also, the GAO's figures are misleading. There are insurance companies that will cover people even if they have health problems but will have exclusions for that specific problem.

kwk, health insurance is so state specific that it is hard to provide you helpful information. You have the most rights when going off of a group plan. If a state has a risk pool, this is the time you can get into that pool with no preexisting condition waiting period. Other states don't have risk pools but give you certain rights to move into an individual plan. Sometimes the states don't regulate the rates the insurers can charge, so the plan may not be affordable. Other states regulate rates or don't allow insurance companies to consider your preexisiting conditions.

A good guide we mention here frequently is Georgetown University's guide at It doens't talk prices though. If you have questions about a specific state ask away.

No more lawyer stuff, no more political stuff, so no more CYA

Martha is offline   Reply With Quote

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
The book, The New Health Insurance Solution Martha FIRE and Money 20 05-15-2006 10:16 AM
What's Your Risk of Death in the Next 4 Years? REWahoo Other topics 18 02-16-2006 01:52 PM
Health Insurance in FIRE maddythebeagle Life after FIRE 47 08-07-2005 06:10 PM
ways of dealing with ER health care costs wanderer69 FIRE and Money 34 05-09-2005 07:38 PM
The Scoop on High Yield Bonds Ted FIRE and Money 9 12-04-2003 12:03 PM


All times are GMT -6. The time now is 08:26 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.