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Old 10-28-2012, 01:50 AM   #21
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I have to agree with this statement.
Originally Posted by meierlde View Post
I would suggest waiting till Nov 7 and then re-think the decision. [Political Language Mod Edited]

Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
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Old 10-28-2012, 11:57 AM   #22
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Originally Posted by Throwdownmyaceinthehole
This may not be the right place to post, but I am late to the Obamacare policys - so when I went in and did the two calculators, it comes out that we will be on Medicaid! I will be ER probably in January at 58 and plan to live off savings... and have minimal dividends as retirement funds are tax shielded 401k, Roth and flat out cash. So first few years will be drawing down cash, then minimal distributions from 401k. So is that right? That no matter how much I have in assets, we will be on Medicaid as we will have no earned income?? How can that be? Never even considered it and have budgeted $15,000 a year for HI. Just seems wrong, wrong, wrong
If you want to increase your income do some Roth conversions to get to the 15000 level.

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Old 10-28-2012, 01:15 PM   #23
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Man, this is making me nervous, first I do have preexisting condition that will most likely prevent me from being able to obtain i surance on my own.

My company is providing coverage for me and my wife at the cost of $2,740/mo. I think the reason for such high cost is because our policy is with Kaiser, since our policy is a PPO type, Kaiser charges us so much more, the HMO part is very reasonable, about $400/mo per couple.

Since my company is being sold next year I will be facing a situation of not knowing if Cobra is going to be available or not, and at what cost. Don't know if downgrading to HMO is an option or not, though I really don't want to right now as I have just recently been diagnosed with prostate cancer. I want to be able to see specialists outside of Kaiser without worrying about being denied by Kaiser.
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Old 10-28-2012, 01:32 PM   #24
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There are a couple of points that you may want to check on that are specific to California coverage and COBRA.

The PPACA, if in force, will get you guaranteed coverage after COBRA as currently written. It is worth considering what happens should that guarantee be removed, for planning purposes.

COBRA coverage lasts 18 months in California, and then you MAY be able to switch to Cal-COBRA after 18 months for a total of 36 months. The switch requires that you be on an actual in-state insurance plan, including HMO plans like Kaiser. Most of my last employers plans, although labeled as United Healthcare, were actually self-insured by the company and administered by the insurer. These self-insured plans were not eligible for the Cal-COBRA extension.

This led me to switch to the HMO plan, so I could make use of Cal-COBRA if needed. It turns out that I did need it, to get past underwriting that wouldn't issue a policy for folks who had undergone some medical procedures within a certain period of the application. An extra year on Cal-COBRA got us to the point where we could buy insurance. Without this, on exhausting Cal-COBRA I would have been eligible for a conversion policy, which would have been expensive, but not as much as the state high risk pool.

I wound up drawing out a decision tree for health care coverage before retiring, to determine which paths available to me gave me the best change at having some coverage for the longest period of time.
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Old 10-28-2012, 01:49 PM   #25
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Thanks M, I will need to do some more digging. Didn't pay much attention to HI until this year. Now I am hoping for Obama to win the election. I really was hoping to retire when the company is sold.

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