The best laid plans for health insurance

[Mr._johngalt]

A brief chronology of how we got where we are health insurance-wise:

1993 - semiretired and went on COBRA while I shopped around
1994 - went back to work on a contract, covered by a deluxe policy
1998 - retired completely and bought a policy with 10K deductible
1999 - found a better "deal" and switched companies (same coverage)
2000 - insurance company went broke

By this time I had developed a whole collection of problems, so no one would touch me, at least at a price I could pay. After I was turned down
about 4-5 times,went on DW's insurance from work. However, she
switched employers and the new insurance was pretty worthless.
So, I went shopping again and ended up with what is basically
a Medicare supplement even though I have 4 years to go until Medicare
actually kicks in. Got a couple of options left, but I was truly blindsided
by this. Back in 1993 I never gave it a second thought.

JG

 

[Patrick]

So what do you recommend for those of us who still have a choice? Stick with the company plan? Buy from 2 companies so if one goes broke we still have one left?

 

[Mr._johngalt]

So what do you recommend for those of us who still have a choice?  Stick with the company plan?  Buy from 2 companies so if one goes broke we still have one left? 

You don't need to "stick with the company plan". I couldn't afford it.
But, if you find affordable coverage with a solid company, don't move
around unless absolutely necessary. All the time I was moving and switching I was running out of options, but I didn't see it until the
choices were pretty limited.

JG

 

[Ginger]

Biggest concern for our retirement is health insurance. I will leave my company plan that is currently 100% premium paid for and go on my husband's government health insurance policy. It will cost $370 per month for the two of us (not a problem) and that is with an offset of $255. If we move out of State, the cost goes up to about $1,000 per month. Just can't be without health insurance (or carry a high deductible plan) because of a major illness I had 8 years ago.

 

[uncledrz]

JG
I'm certainly no expert on health insurance, but we're in a position where we are shopping around now and just would like to throw a thought or two your way.
Some states, don't know if Texas does, have high risk pools, so the Commissioner of Insurance may be able to direct you to full coverage.
Also, BC/BS is an insurer which will cover all applicants, based on age only, in some other states. That also may be worth a look.
Policies may be expensive, very expensive, (1,000+ a month) but at least would provide some full coverage if available.
Uncledrz